SEC 13F Intelligence

Managers / Q4 2023 · view latest →

M28 Capital Management LP

CIK 0001807489 · 700 CANAL STREET, 1ST FLOOR, STAMFORD, CT, 06902 · 203-516-3730

Reported Value
$121M
Q4 2023
Positions
10
Filings on Record
18
2019–present window
Filed
Feb 12, 2024
original filing

Summary

M28 Capital Management LP reported $121M in U.S.-listed holdings across 10 positions for Q4 2023.

The portfolio is heavily concentrated: WVE alone accounts for 30.8% of reported value.

Compared with Q3 2023, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+3.2%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+30.8%
Wave Life Sciences

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $128MQ4 ’21Q1 ’22: $109MQ2 ’22: $89MQ3 ’22: $96MQ3 ’22Q4 ’22: $105MQ1 ’23: $88MQ2 ’23: $76MQ2 ’23Q3 ’23: $87MQ4 ’23: $121MQ1 ’24: $135MQ1 ’24Q2 ’24: $77MQ3 ’24: $91MQ4 ’24: $102MQ4 ’24Q1 ’25: $73MQ2 ’25: $59MQ3 ’25: $68MQ3 ’25Q4 ’25: $138MQ1 ’26: $54Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 91.6%ADR: 5.2%Other: 3.1%
  • Common Stock · 91.6% · $111M
  • ADR · 5.2% · $6M
  • Other · 3.1% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NEXIMMUNE INCSOLD OUT−133.4K0−$28,009$0
SPRINGWORKS THERAPEUTICS INCTRIMMED−54.9K142.8K+$641,376$5M
WVEWAVE LIFE SCIENCES LTDHELD+328.9K7.37M−$3M$37M
IVVDINVIVYD INCHELD+09.25M+$21M$36M
RCKTROCKET PHARMACEUTICALS INCHELD+0523.3K+$5M$16M
SLNSILENCE THERAPEUTICS PLCHELD+0363.8K+$3M$6M
CURIS INCHELD+0422.0K+$3M$5M
TGTXTG THERAPEUTICS INCHELD+0216.6K+$2M$4M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

10 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1WVEWAVE LIFE SCIENCES LTDhistory →SHS30.85%$37M7.37M
2IVVDINVIVYD INChistory →COM30.19%$36M9.25M
3RCKTROCKET PHARMACEUTICALS INChistory →COM12.99%$16M523.3K
4SLNSILENCE THERAPEUTICS PLChistory →ADS5.24%$6M363.8K
5CURIS INCCOM4.46%$5M422.0K
6SPRINGWORKS THERAPEUTICS INCCOM4.32%$5M142.8K
7BBIOBRIDGEBIO PHARMA INChistory →COM4.05%$5M121.2K
8PROQR THRAPEUTICS N VSHS EURO3.13%$4M1.91M
9TGTXTG THERAPEUTICS INChistory →COM3.06%$4M216.6K
10ARWRARROWHEAD PHARMACEUTICALS INhistory →COM1.71%$2M67.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$54M9May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$138M9Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$68M9Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$59M9Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$73M11May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$102M11Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$91M11Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$77M11Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$135M11May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$121M10Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$87M11Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$76M12Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$88M14May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$105M14Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$96M12Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$89M13Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$109M13May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$128M12Feb 11, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.