M28 Capital Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), M28 Capital Management LP reported 9 stock positions worth $137.6 million. Its top holding was Wave Life Sciences (WVE) at 70.0% of the portfolio, followed by Invivyd (IVVD, 16.6%) and TG Therapeutics (TGTX, 3.5%). Its holdings were unchanged from Q3 2025.
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001807489
- Portfolio Value
- $137.6M (Q4 2025)
- SEC Filing
- 0000902664-26-000993 ↗ filed Feb 13, 2026
Holdings Value
Holdings 9 stocks · $137.6M
| WVE Wave Life Sciences Ltd. | 70.00% | 5,664,548 | $96.3M | No change |
| IVVD Invivyd Inc. | 16.60% | 9,248,250 | $22.8M | No change |
| TGTX TG Therapeutics Inc. | 3.50% | 161,600 | $4.8M | No change |
| ARWR Arrowhead Pharmaceuticals Inc. | 3.25% | 67,400 | $4.5M | No change |
| GUTS Fractyl Health Inc. | 2.97% | 1,856,117 | $4.1M | No change |
| PRQR Proqr Therapeutics NV | 1.50% | 1,019,498 | $2.1M | No change |
| RCKT Rocket Pharmaceuticals Inc. | 0.98% | 385,680 | $1.4M | No change |
| SLN Silence Therapeutics PLC-ADR | 0.82% | 185,100 | $1.1M | No change |
| CRIS Curis Inc. | 0.37% | 521,059 | $514K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| None this quarter. | |||
Portfolio Buys Q3 2025 → Q4 2025
| None this quarter. | |||
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 9 | $47.2M | WVE, IVVD, TGTX, ARWR, GUTS |
| Q1 2026 | 9 | $53.8M | WVE, IVVD, TGTX, ARWR, PRQR |
| Q4 2025 | 9 | $137.6M | WVE, IVVD, TGTX, ARWR, GUTS |
| Q3 2025 | 9 | $68.0M | WVE, IVVD, TGTX, GUTS, ARWR |
| Q2 2025 | 9 | $58.6M | WVE, IVVD, TGTX, GUTS, PRQR |
| Q1 2025 | 11 | $73.0M | WVE, TGTX, IVVD, BBIO, RCKT |
| Q4 2024 | 11 | $101.9M | WVE, TGTX, RCKT, IVVD, SWTX |
| Q3 2024 | 11 | $91.0M | WVE, IVVD, RCKT, GUTS, TGTX |
| Q2 2024 | 11 | $77.1M | WVE, IVVD, RCKT, GUTS, SWTX |
| Q1 2024 | 11 | $135.3M | WVE, IVVD, GUTS, RCKT, SLN |