Crestline Management, L.P.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Crestline Management, L.P. reported 155 stock positions worth $1.1 billion. Its top holding was Denali Therapeutics (DNLI) at 10.1% of the portfolio, followed by Sana Biotechnology (SANA, 3.2%) and SS SPDR S&P 500 ETF Trust-US (SPY, 2.5%). Compared with Q4 2023, it opened 82 new positions, sold out of 79, added to 35 and reduced 35. The biggest buy was a new position in ASML Holding NV-NY Reg SHS (ASML) and the biggest sale an exit from Macy's (M).
- Most Recent 13F
- Q2 2026
- Location
- FORT WORTH, TX
- CIK
- 0001536054
- Portfolio Value
- $1.1B (Q1 2024)
- SEC Filing
- 0001315863-24-000461 ↗ filed May 14, 2024
Holdings Value
Holdings 155 stocks · $1.1B
| DNLI Denali Therapeutics Inc. | 10.12% | 5,210,732 | $106.9M | Reduce -8.0% |
| SANA Sana Biotechnology Inc. | 3.19% | 3,365,624 | $33.7M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.48% | 50,000 | $26.2M | No change |
| ASML ASML Holding NV-NY Reg SHS | 2.38% | 25,886 | $25.1M | New |
| NI Nisource Inc. | 1.95% | 744,270 | $20.6M | Add +15.9% |
| TSM Taiwan Semiconductor-SP ADR | 1.88% | 146,251 | $19.9M | Add +103.4% |
| KMB Kimberly-Clark Corp. | 1.79% | 146,023 | $18.9M | New |
| CSTM Constellium SE | 1.74% | 830,446 | $18.4M | New |
| PCG P G & E Corp. | 1.63% | 1,029,610 | $17.3M | Add +78.1% |
| ETR Entergy Corp. | 1.53% | 153,267 | $16.2M | Add +30.0% |
| PPL PPL Corp. | 1.48% | 565,882 | $15.6M | Reduce -2.3% |
| NVDA Nvidia Corp. | 1.37% | 16,000 | $14.5M | Add +39.1% |
| K Kellanova | 1.32% | 243,437 | $13.9M | New |
| ACA Arcosa Inc. | 1.27% | 156,707 | $13.5M | Reduce -28.7% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 1.27% | 106,649 | $13.4M | New |
| AVGO Broadcom Inc. | 1.18% | 9,373 | $12.4M | Add +48.8% |
| CMC Commercial Metals Co. | 1.11% | 199,329 | $11.7M | New |
| HSY The Hershey Co. | 1.09% | 59,126 | $11.5M | New |
| FCX Freeport-McMoran Inc. | 1.05% | 236,300 | $11.1M | Add +12.1% |
| WDAY Workday Inc. Class A | 1.05% | 40,582 | $11.1M | Add +289.8% |
| AVY Avery Dennison Corp. | 1.05% | 49,580 | $11.1M | New |
| AQN Algonquin Power & Utilities | 1.03% | 1,729,336 | $10.9M | Reduce -24.0% |
| GLNG Golar LNG Ltd. | 1.03% | 450,000 | $10.8M | New |
| RMBS Rambus Inc. | 0.97% | 165,704 | $10.2M | Add +75.6% |
| STNG Scorpio Tankers Inc. | 0.94% | 138,106 | $9.9M | New |
| NOW ServiceNow Inc. | 0.92% | 12,682 | $9.7M | Add +56.4% |
| NDAQ Nasdaq Inc. | 0.90% | 150,562 | $9.5M | Reduce -22.0% |
| MIR Mirion Technologies Inc. | 0.87% | 810,000 | $9.2M | Reduce -10.0% |
| MSFT Microsoft Corp. | 0.86% | 21,528 | $9.1M | Reduce -21.4% |
| GDX Vaneck Gold Miners ETF | 0.85% | 285,078 | $9.0M | Add +19.9% |
| SSNC Ss&c Technologies Holdings | 0.84% | 137,969 | $8.9M | New |
| AER Aercap Holdings NV | 0.82% | 100,000 | $8.7M | New |
| GT Goodyear Tire & Rubber Co. | 0.82% | 630,000 | $8.6M | Add +39.1% |
| PRGO Perrigo Co. PLC | 0.79% | 260,000 | $8.4M | New |
| DK Delek US Holdings Inc. | 0.79% | 270,000 | $8.3M | Reduce -18.0% |
| AXTA Axalta Coating Systems Ltd. | 0.77% | 236,500 | $8.1M | New |
| MRCY Mercury Systems Inc. | 0.76% | 272,314 | $8.0M | Add +1.8% |
| LW Lamb Weston Holdings Inc. | 0.73% | 72,500 | $7.7M | New |
| PEGA Pegasystems Inc. | 0.72% | 117,043 | $7.6M | Add +154.4% |
| TRU Transunion | 0.71% | 93,979 | $7.5M | New |
| CMS CMS Energy Corp. | 0.71% | 124,253 | $7.5M | Add +360.2% |
| BALL Ball Corp. | 0.71% | 111,001 | $7.5M | New |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.70% | 121,529 | $7.4M | New |
| EVRG Evergy Inc. | 0.70% | 138,138 | $7.4M | New |
| CNP Centerpoint Energy Inc. | 0.68% | 253,758 | $7.2M | Add +11.1% |
| CRH CRH PLC | 0.68% | 82,972 | $7.2M | New |
| LNT Alliant Energy Corp. | 0.67% | 140,903 | $7.1M | Add +21.4% |
| ARMK Aramark | 0.67% | 216,000 | $7.0M | Reduce -27.6% |
| CRM Salesforce Inc. | 0.66% | 23,225 | $7.0M | Reduce -35.5% |
| VSTS Vestis Corp. | 0.66% | 360,000 | $6.9M | Reduce -10.3% |
| NATL NCR Atleos Corp. | 0.65% | 350,128 | $6.9M | Add +25.6% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.65% | 44,597 | $6.9M | New |
| MLM Martin Marietta Materials | 0.64% | 11,000 | $6.8M | New |
| WCC Wesco International Inc. | 0.63% | 38,574 | $6.6M | New |
| KEX Kirby Corp. | 0.62% | 68,200 | $6.5M | New |
| AEM Agnico Eagle Mines Ltd. | 0.60% | 106,900 | $6.4M | Reduce -40.9% |
| VECO Veeco Instruments Inc. | 0.60% | 180,738 | $6.4M | Add +65.4% |
| TYL Tyler Technologies Inc. | 0.60% | 14,857 | $6.3M | New |
| DT Dynatrace Inc. | 0.59% | 133,449 | $6.2M | Reduce -35.9% |
| SIMO Silicon Motion Technol-ADR | 0.58% | 80,000 | $6.2M | Reduce -11.4% |
| NTRA Natera Inc. | 0.58% | 67,049 | $6.1M | Add +3.0% |
| SNOW Snowflake Inc. | 0.58% | 37,907 | $6.1M | Add +82.9% |
| SPLV Invesco S&P 500 Low Volatili | 0.58% | 92,782 | $6.1M | Reduce -22.7% |
| SPGI S&P Global Inc. | 0.57% | 14,223 | $6.1M | Add +8.2% |
| MNST Monster Beverage Corp. | 0.57% | 101,601 | $6.0M | New |
| SMAR Smartsheet Inc. Class A | 0.57% | 155,310 | $6.0M | Add +26.6% |
| CRS Carpenter Technology | 0.56% | 82,971 | $5.9M | Add +231.9% |
| AMBP Ardagh Metal Packaging SA | 0.56% | 1,710,001 | $5.9M | New |
| VYX NCR Voyix Corp. | 0.54% | 454,258 | $5.7M | Reduce -20.1% |
| HRL Hormel Foods Corp. | 0.53% | 160,900 | $5.6M | New |
| VLTO Veralto Corp. | 0.53% | 63,000 | $5.6M | Reduce -21.4% |
| AMZN Amazon.com Inc. | 0.53% | 30,909 | $5.6M | Add +125.2% |
| AEE Ameren Corporation | 0.52% | 74,200 | $5.5M | New |
| CDNS Cadence Design SYS Inc. | 0.51% | 17,396 | $5.4M | New |
| CYBR Cyberark Software Ltd./Israel | 0.50% | 19,760 | $5.2M | New |
| BUR Burford Capital Ltd. | 0.48% | 320,000 | $5.1M | New |
| SMTC Semtech Corp. | 0.48% | 184,792 | $5.1M | Add +266.2% |
| ES Eversource Energy | 0.47% | 82,400 | $4.9M | New |
| MATW Matthews Intl Corp. Class A | 0.46% | 157,500 | $4.9M | New |
| VMI Valmont Industries | 0.45% | 20,901 | $4.8M | Reduce -38.5% |
| GOOGL Alphabet Inc. Class A | 0.44% | 31,000 | $4.7M | New |
| INSW International Seaways Inc. | 0.44% | 87,170 | $4.6M | New |
| S Sentinelone Inc. Class A | 0.43% | 193,322 | $4.5M | New |
| MO Altria Group Inc. | 0.42% | 102,321 | $4.5M | New |
| NUE Nucor Corp. | 0.41% | 21,700 | $4.3M | Reduce -47.1% |
| VRSK Verisk Analytics Inc. | 0.41% | 18,163 | $4.3M | New |
| TTWO Take-Two Interactive Softwre | 0.39% | 28,000 | $4.2M | New |
| GPRE Green Plains Inc. | 0.39% | 179,460 | $4.1M | Reduce -31.9% |
| META Meta Platforms Inc. Class A | 0.39% | 8,500 | $4.1M | New |
| CME Cme Group Inc. | 0.38% | 18,794 | $4.0M | New |
| DAY Dayforce Inc. | 0.38% | 60,731 | $4.0M | Add +115.7% |
| MTSI Macom Technology Solutions H | 0.37% | 41,124 | $3.9M | Reduce -23.8% |
| AGI Alamos Gold Inc. Class A | 0.37% | 266,000 | $3.9M | New |
| FNV Franco-Nevada Corp. | 0.37% | 32,920 | $3.9M | New |
| NEE Nextera Energy Inc. | 0.36% | 59,500 | $3.8M | New |
| AMD Advanced Micro Devices | 0.36% | 21,000 | $3.8M | Reduce -48.8% |
| SHW The Sherwin-Williams Co. | 0.34% | 10,457 | $3.6M | New |
| FIVN FIVE9 Inc. | 0.34% | 57,955 | $3.6M | New |
| KBR KBR Inc. | 0.34% | 56,173 | $3.6M | Add +3.0% |
| AMAT Applied Materials Inc. | 0.34% | 17,200 | $3.5M | New |
Options reported separately and not counted above: SPY puts ($67.0M), QQQ puts ($8.9M).
Portfolio Sells Q4 2023 → Q1 2024
| M Macy's Inc. | Sold out | 0.00% | −2.98 |
| ET Energy Transfer LP | Sold out | 0.00% | −2.56 |
| FR First Industrial Realty TR | Sold out | 0.00% | −2.44 |
| BHC Bausch Health Cos Inc. | Sold out | 0.00% | −1.49 |
| AIG American International Group | Sold out | 0.00% | −1.42 |
| ALL Allstate Corp. | Sold out | 0.00% | −1.40 |
| DNLI Denali Therapeutics Inc. | Reduce -8.0% | 10.12% | −1.13 |
| WTW Willis Towers Watson PLC | Sold out | 0.00% | −1.12 |
| TFC Truist Financial Corp. | Sold out | 0.00% | −1.01 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.91 |
| RIO Rio Tinto PLC-Spon ADR | Sold out | 0.00% | −0.90 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.89 |
| CCK Crown Holdings Inc. | Reduce -82.5% | 0.16% | −0.88 |
| CBOE Cboe Global Markets Inc. | Reduce -76.5% | 0.27% | −0.83 |
| SRE Sempra | Sold out | 0.00% | −0.82 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.81 |
| BZ Kanzhun Ltd. - ADR | Sold out | 0.00% | −0.77 |
| RXO Rxo Inc. | Sold out | 0.00% | −0.77 |
| GXO Gxo Logistics Inc. | Sold out | 0.00% | −0.76 |
| ATI Ati Inc. | Sold out | 0.00% | −0.72 |
| CRBG Corebridge Financial Inc. | Sold out | 0.00% | −0.72 |
| SAVEQ Spirit Airlines Inc. | Sold out | 0.00% | −0.72 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.71 |
| GPK Graphic Packaging Holding Co. | Sold out | 0.00% | −0.71 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.69 |
| ARCH Arch Resources Inc. | Sold out | 0.00% | −0.68 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.68 |
| ACLS Axcelis Technologies Inc. | Sold out | 0.00% | −0.65 |
| KEY Keycorp | Sold out | 0.00% | −0.62 |
| PRU Prudential Financial Inc. | Sold out | 0.00% | −0.58 |
| RGLD Royal Gold Inc. | Reduce -66.0% | 0.31% | −0.57 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.56 |
| ICE Intercontinental Exchange Inc. | Sold out | 0.00% | −0.55 |
| TXNM TXNM Energy Inc. | Reduce -67.3% | 0.23% | −0.54 |
| MDB Mongodb Inc. | Sold out | 0.00% | −0.53 |
| FHN First Horizon Corp. | Sold out | 0.00% | −0.52 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.52 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.47 |
| MRSH Marsh & McLennan Cos | Sold out | 0.00% | −0.47 |
| DT Dynatrace Inc. | Reduce -35.9% | 0.59% | −0.47 |
| SO The Southern Co. | Sold out | 0.00% | −0.46 |
| PCTY Paylocity Holding Corp. | Sold out | 0.00% | −0.46 |
| FCNCA First Citizens Bcshs Class A | Sold out | 0.00% | −0.43 |
| BHP BHP Group Ltd.-Spon ADR | Sold out | 0.00% | −0.42 |
| ACA Arcosa Inc. | Reduce -28.7% | 1.27% | −0.41 |
| WAL Western Alliance Bancorp | Sold out | 0.00% | −0.39 |
| TRV The Travelers Cos Inc. | Sold out | 0.00% | −0.39 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.39 |
| UNP Union Pacific Corp. | Reduce -54.7% | 0.32% | −0.37 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.37 |
Portfolio Buys Q4 2023 → Q1 2024
| ASML ASML Holding NV-NY Reg SHS | New | 2.38% | +2.38 |
| KMB Kimberly-Clark Corp. | New | 1.79% | +1.79 |
| CSTM Constellium SE | New | 1.74% | +1.74 |
| K Kellanova | New | 1.32% | +1.32 |
| SJM The JM Smucker Co. | New | 1.27% | +1.27 |
| TSM Taiwan Semiconductor-SP ADR | Add +103.4% | 1.88% | +1.19 |
| CMC Commercial Metals Co. | New | 1.11% | +1.11 |
| HSY The Hershey Co. | New | 1.09% | +1.09 |
| AVY Avery Dennison Corp. | New | 1.05% | +1.05 |
| GLNG Golar LNG Ltd. | New | 1.03% | +1.03 |
| STNG Scorpio Tankers Inc. | New | 0.94% | +0.94 |
| NVDA Nvidia Corp. | Add +39.1% | 1.37% | +0.84 |
| SSNC Ss&c Technologies Holdings | New | 0.84% | +0.84 |
| AER Aercap Holdings NV | New | 0.82% | +0.82 |
| PRGO Perrigo Co. PLC | New | 0.79% | +0.79 |
| WDAY Workday Inc. Class A | Add +289.8% | 1.05% | +0.78 |
| AXTA Axalta Coating Systems Ltd. | New | 0.77% | +0.77 |
| LW Lamb Weston Holdings Inc. | New | 0.73% | +0.73 |
| TRU Transunion | New | 0.71% | +0.71 |
| BALL Ball Corp. | New | 0.71% | +0.71 |
| BUD Anheuser-Busch Inbev-SPN ADR | New | 0.70% | +0.70 |
| EVRG Evergy Inc. | New | 0.70% | +0.70 |
| CRH CRH PLC | New | 0.68% | +0.68 |
| PCG P G & E Corp. | Add +78.1% | 1.63% | +0.67 |
| EL Estee Lauder Companies Class A | New | 0.65% | +0.65 |
| MLM Martin Marietta Materials | New | 0.64% | +0.64 |
| WCC Wesco International Inc. | New | 0.63% | +0.63 |
| KEX Kirby Corp. | New | 0.62% | +0.62 |
| TYL Tyler Technologies Inc. | New | 0.60% | +0.60 |
| MNST Monster Beverage Corp. | New | 0.57% | +0.57 |
| CMS CMS Energy Corp. | Add +360.2% | 0.71% | +0.56 |
| AMBP Ardagh Metal Packaging SA | New | 0.56% | +0.56 |
| HRL Hormel Foods Corp. | New | 0.53% | +0.53 |
| AVGO Broadcom Inc. | Add +48.8% | 1.18% | +0.53 |
| AEE Ameren Corporation | New | 0.52% | +0.52 |
| CDNS Cadence Design SYS Inc. | New | 0.51% | +0.51 |
| PEGA Pegasystems Inc. | Add +154.4% | 0.72% | +0.51 |
| CYBR Cyberark Software Ltd./Israel | New | 0.50% | +0.50 |
| BUR Burford Capital Ltd. | New | 0.48% | +0.48 |
| ES Eversource Energy | New | 0.47% | +0.47 |
| MATW Matthews Intl Corp. Class A | New | 0.46% | +0.46 |
| GOOGL Alphabet Inc. Class A | New | 0.44% | +0.44 |
| INSW International Seaways Inc. | New | 0.44% | +0.44 |
| ETR Entergy Corp. | Add +30.0% | 1.53% | +0.43 |
| S Sentinelone Inc. Class A | New | 0.43% | +0.43 |
| MO Altria Group Inc. | New | 0.42% | +0.42 |
| VRSK Verisk Analytics Inc. | New | 0.41% | +0.41 |
| CRS Carpenter Technology | Add +231.9% | 0.56% | +0.40 |
| TTWO Take-Two Interactive Softwre | New | 0.39% | +0.39 |
| META Meta Platforms Inc. Class A | New | 0.39% | +0.39 |
Options Activity Q4 2023 → Q1 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +814.3% | 128,000 | $67.0M |
| IWM iShares Russell 2000 ETF | put | Sold out | 296,500 | $59.5Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -65.8% | 20,000 | $8.9M |
| SAVEQ Spirit Airlines Inc. | put | Sold out | 200,000 | $3.3Mbefore exit |
| JBLU Jetblue Airways Corp. | call | Sold out | 100,000 | $555Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 3 | $53.5M | DNLI, SANA, EGHT |
| Q1 2026Amended | 3 | $46.3M | DNLI, SANA, EGHT |
| Q4 2025 | 3 | $53.3M | DNLI, SANA, EGHT |
| Q3 2025 | 3 | $58.1M | DNLI, SANA, EGHT |
| Q2 2025 | 3 | $62.6M | DNLI, SANA, EGHT |
| Q1 2025 | 3 | $63.2M | DNLI, SANA, EGHT |
| Q4 2024 | 703 | $2.9B | IVV, NVDA, DNLI, QQQ, AMZN |
| Q3 2024 | 508 | $1.8B | SPY, DNLI, NVDA, CRM, AA |
| Q2 2024 | 158 | $1.3B | IVV, DNLI, NVDA, IWM, AAPL |
| Q1 2024 | 155 | $1.1B | DNLI, SANA, SPY, ASML, NI |