Crestline Management, L.P. In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Crestline Management, L.P. reported 3 stock positions worth $63.2 million . Its top holding was Denali Therapeutics (DNLI) at 89.5% of the portfolio, followed by Sana Biotechnology (SANA, 7.4% ) and 8X8 (EGHT, 3.1% ). Compared with Q4 2024, it sold out of 700 and reduced 3. The biggest sale was an exit from iShares Core S&P 500 ETF (IVV).
Location FORT WORTH, TX
CIK 0001536054
Portfolio Value $63.2M (Q1 2025) Holdings 3 stocks · $63.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 DNLI Denali Therapeutics Inc. 4,160,732 $56.6M Reduce -3.5% SANA Sana Biotechnology Inc. 2,790,937 $4.7M Reduce -2.5% EGHT 8X8 Inc. 990,580 $2.0M Reduce -0.8%
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ IVV iShares Core S&P 500 ETF Sold out 0.00% −13.11 NVDA Nvidia Corp. Sold out 0.00% −3.29 QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −2.67 AMZN Amazon.com Inc. Sold out 0.00% −1.89 GOOGL Alphabet Inc. Class A Sold out 0.00% −1.54 JNJ Johnson & Johnson Sold out 0.00% −1.20 CSCO Cisco Systems Inc. Sold out 0.00% −1.07 MSFT Microsoft Corp. Sold out 0.00% −1.03 IWM iShares Russell 2000 ETF Sold out 0.00% −0.92 TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.87 ADBE Adobe Inc. Sold out 0.00% −0.83 SMTC Semtech Corp. Sold out 0.00% −0.77 RMBS Rambus Inc. Sold out 0.00% −0.75 KLAC KLA Corp. Sold out 0.00% −0.73 COHR Coherent Corp. Sold out 0.00% −0.71 TXN Texas Instruments Inc. Sold out 0.00% −0.71 META Meta Platforms Inc. Class A Sold out 0.00% −0.68 INTC Intel Corp. Sold out 0.00% −0.68 TER Teradyne Inc. Sold out 0.00% −0.67 ETN Eaton Corp. PLC Sold out 0.00% −0.66 AMD Advanced Micro Devices Sold out 0.00% −0.66 CRM Salesforce Inc. Sold out 0.00% −0.66 RIO Rio Tinto PLC-Spon ADR Sold out 0.00% −0.63 MMM 3M Co. Sold out 0.00% −0.60 UNP Union Pacific Corp. Sold out 0.00% −0.60 TTWO Take-Two Interactive Softwre Sold out 0.00% −0.60 ADSK Autodesk Inc. Sold out 0.00% −0.60 NTRA Natera Inc. Sold out 0.00% −0.56 EVRG Evergy Inc. Sold out 0.00% −0.47 AJG Arthur J Gallagher & Co. Sold out 0.00% −0.46 LLY Eli Lilly & Co. Sold out 0.00% −0.44 CYBR Cyberark Software Ltd./Israel Sold out 0.00% −0.43 PH Parker Hannifin Corp. Sold out 0.00% −0.42 MEOH Methanex Corp. Sold out 0.00% −0.42 PEP Pepsico Inc. Sold out 0.00% −0.42 KO The Coca-Cola Co. Sold out 0.00% −0.42 HRL Hormel Foods Corp. Sold out 0.00% −0.40 EXTR Extreme Networks Inc. Sold out 0.00% −0.39 NFLX Netflix Inc. Sold out 0.00% −0.38 APH Amphenol Corp. Class A Sold out 0.00% −0.38 KRC Kilroy Realty Corp. Sold out 0.00% −0.38 KMB Kimberly-Clark Corp. Sold out 0.00% −0.37 STLD Steel Dynamics Inc. Sold out 0.00% −0.37 NI Nisource Inc. Sold out 0.00% −0.36 WPM Wheaton Precious Metals Corp. Sold out 0.00% −0.34 PKG Packaging Corp. of America Sold out 0.00% −0.34 KNX Knight-Swift Transportation Sold out 0.00% −0.34 LW Lamb Weston Holdings Inc. Sold out 0.00% −0.33 V Visa Inc. Class A Sold out 0.00% −0.33 PPL PPL Corp. Sold out 0.00% −0.33
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ None this quarter.
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US call Sold out 125,000 $73.3Mbefore exit SPY SS SPDR S&P 500 ETF Trust-US put Sold out 104,000 $61.0Mbefore 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 2026 Amended 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