Managers / Q1 2024 · view latest →
M28 Capital Management LP
CIK 0001807489 · 700 CANAL STREET, 1ST FLOOR, STAMFORD, CT, 06902 · 203-516-3730
Summary
M28 Capital Management LP reported $135M in U.S.-listed holdings across 11 positions for Q1 2024.
The portfolio is heavily concentrated: Wave Life Sciences alone accounts for 31.9% of reported value.
Compared with Q4 2023, the fund opened 1 new position and exited 0.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 61.6% · $83M
- Other · 33.6% · $46M
- ADR · 4.8% · $6M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| GUTSFRACTYL HEALTH INC | NEW | +1.86M | 1.86M | +$14M | $14M |
| PROQR THRAPEUTICS N V | TRIMMED | −891.1K | 1.02M | −$1M | $2M |
| RCKTROCKET PHARMACEUTICALS INC | TRIMMED | −137.6K | 385.7K | −$5M | $10M |
| TGTXTG THERAPEUTICS INC | TRIMMED | −55.0K | 161.6K | −$1M | $2M |
| SWTXUSDSPRINGWORKS THERAPEUTICS INC | TRIMMED | −32.4K | 110.4K | +$221,688 | $5M |
| SLNSILENCE THERAPEUTICS PLC | TRIMMED | −64.4K | 299.4K | +$147,834 | $6M |
| WAVE LIFE SCIENCES LTD | TRIMMED | −373.4K | 7.00M | +$6M | $43M |
| IVVDINVIVYD INC | HELD | +0 | 9.25M | +$5M | $41M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | WAVE LIFE SCIENCES LTD | SHS | 31.91% | $43M | 7.00M |
| 2 | IVVDINVIVYD INChistory → | COM | 30.34% | $41M | 9.25M |
| 3 | GUTSFRACTYL HEALTH INChistory → | COM | 10.15% | $14M | 1.86M |
| 4 | RCKTROCKET PHARMACEUTICALS INChistory → | COM | 7.68% | $10M | 385.7K |
| 5 | SLNSILENCE THERAPEUTICS PLChistory → | ADS | 4.78% | $6M | 299.4K |
| 6 | SWTXUSDSPRINGWORKS THERAPEUTICS INChistory → | COM | 4.02% | $5M | 110.4K |
| 7 | CRISEURCURIS INChistory → | COM | 3.39% | $5M | 422.0K |
| 8 | BBIOBRIDGEBIO PHARMA INChistory → | COM | 2.77% | $4M | 121.2K |
| 9 | TGTXTG THERAPEUTICS INChistory → | COM | 1.82% | $2M | 161.6K |
| 10 | PROQR THRAPEUTICS N V | SHS EURO | 1.73% | $2M | 1.02M |
| 11 | ARWRARROWHEAD PHARMACEUTICALS INhistory → | COM | 1.42% | $2M | 67.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $54M | 9 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $138M | 9 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $68M | 9 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $59M | 9 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $73M | 11 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $102M | 11 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $91M | 11 | Nov 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $77M | 11 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $135M | 11 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $121M | 10 | Feb 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $87M | 11 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $76M | 12 | Aug 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $88M | 14 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $105M | 14 | Feb 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $96M | 12 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $89M | 13 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $109M | 13 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $128M | 12 | Feb 11, 2022 | 13F-HR | changes · 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 ↗.