Crestline Management, L.P.

Name: Crestline Management, L.P. 13F holdings, Q1 2024
Creator: Crestline Management, L.P.
Published: 2024-05-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024

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
STM Stmicroelectronics NV-NY SHS	0.33%	79,788	$3.5M	Reduce -1.2%
UNP Union Pacific Corp.	0.32%	13,727	$3.4M	Reduce -54.7%
CONSOL ENERGY INC	0.32%	40,000	$3.4M	New
KDP Keurig Dr Pepper Inc.	0.31%	106,800	$3.3M	New
RGLD Royal Gold Inc.	0.31%	26,520	$3.2M	Reduce -66.0%
AES AES Corp.	0.30%	175,268	$3.1M	New
ACN Accenture PLC Class A	0.29%	8,976	$3.1M	New
POR Portland General Electric Co.	0.29%	71,952	$3.0M	Add +124.8%
HPE Hewlett Packard Enterprise	0.29%	170,000	$3.0M	New
AAPL Apple Inc.	0.28%	17,000	$2.9M	New
CLDX Celldex Therapeutics Inc.	0.28%	69,289	$2.9M	Add +3.0%
DDOG Datadog Inc. Class A	0.28%	23,524	$2.9M	Reduce -34.0%
CBOE Cboe Global Markets Inc.	0.27%	15,720	$2.9M	Reduce -76.5%
PEG Public Service Enterprise GP	0.27%	42,900	$2.9M	New
FRSH Freshworks Inc. Class A	0.27%	153,960	$2.8M	New
EGHT 8X8 Inc.	0.26%	998,380	$2.7M	No change
WY Weyerhaeuser Co.	0.25%	73,000	$2.6M	Reduce -18.9%
TEAM Atlassian Corp. Class A	0.25%	13,397	$2.6M	New
AWK American Water Works Co. Inc.	0.24%	20,900	$2.6M	Add +6.8%
SNDX Syndax Pharmaceuticals Inc.	0.23%	103,710	$2.5M	Add +3.0%
TXNM TXNM Energy Inc. filed as PNM RES INC	0.23%	65,421	$2.5M	Reduce -67.3%
FE Firstenergy Corp.	0.23%	63,131	$2.4M	New
DOCU Docusign Inc.	0.21%	37,775	$2.2M	New
VERA Vera Therapeutics Inc.	0.21%	51,592	$2.2M	Reduce -14.1%
FDS Factset Research Systems Inc.	0.21%	4,865	$2.2M	New
NXE Nexgen Energy Ltd.	0.21%	280,468	$2.2M	New
RS Reliance Inc.	0.21%	6,500	$2.2M	New
DYN Dyne Therapeutics Inc.	0.20%	75,000	$2.1M	New
COHR Coherent Corp.	0.20%	35,000	$2.1M	Reduce -41.4%
COGT Cogent Biosciences Inc.	0.20%	315,000	$2.1M	New
ENR Energizer Holdings Inc.	0.20%	71,820	$2.1M	New
PNW Pinnacle West Capital	0.19%	27,500	$2.1M	New
HLIT Harmonic Inc.	0.19%	149,930	$2.0M	New
SIL Global X Silver Miners ETF	0.19%	73,001	$2.0M	Add +265.0%
SMPL The Simply Good Foods Co.	0.18%	55,749	$1.9M	New
TER Teradyne Inc.	0.17%	15,851	$1.8M	Reduce -67.2%
MSCI MSCI Inc.	0.16%	3,016	$1.7M	New
CCK Crown Holdings Inc.	0.16%	21,177	$1.7M	Reduce -82.5%
X United States Steel Corp.	0.16%	40,500	$1.7M	New
OKTA Okta Inc.	0.16%	15,671	$1.6M	New
CABA Cabaletta Bio Inc.	0.14%	85,000	$1.5M	New
IMTX Immatics NV	0.12%	122,036	$1.3M	New
ADI Analog Devices Inc.	0.11%	5,772	$1.1M	Reduce -55.6%
FROG Jfrog Ltd.	0.10%	23,031	$1.0M	New
GTM Zoominfo Technologies Inc.	0.10%	62,913	$1.0M	New
BRZE Braze Inc. Class A	0.10%	22,727	$1.0M	New
BILL Bill Holdings Inc.	0.09%	14,478	$995K	New
CEG Constellation Energy	0.09%	4,900	$906K	New
DNN Denison Mines Corp.	0.08%	457,712	$893K	Reduce -59.3%
BRBR Bellring Brands Inc.	0.08%	14,164	$836K	New
FRPT Freshpet Inc.	0.06%	5,873	$680K	New
TVTX Travere Therapeutics Inc.	0.06%	83,899	$647K	Add +3.0%
UTZ Utz Brands Inc.	0.05%	28,000	$516K	New
PEPG Pepgen Inc.	0.05%	35,000	$515K	New
PBYI Puma Biotechnology Inc.	0.02%	35,832	$190K	Add +3.0%

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