Crestline Management, L.P.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Crestline Management, L.P. reported 3 stock positions worth $58.1 million. Its top holding was Denali Therapeutics (DNLI) at 85.3% of the portfolio, followed by Sana Biotechnology (SANA, 11.1%) and 8X8 (EGHT, 3.6%). Compared with Q2 2025, it reduced 2. The biggest sale was Denali Therapeutics (DNLI, shares −12%).

Most Recent 13F
Q2 2026
Location
FORT WORTH, TX
CIK
0001536054
Portfolio Value
$58.1M (Q3 2025)
SEC Filing
0001315863-25-000800 ↗ filed Nov 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $1.1B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.8B Q3 2024 Q4 2024: $2.9B Q4 2024 Q1 2025: $63.2M Q1 2025 Q2 2025: $62.6M Q2 2025 Q3 2025: $58.1M $58.1M Q3 2025 Q4 2025: $53.3M Q4 2025 Q1 2026: $46.3M Q1 2026 Q2 2026: $53.5M Q2 2026

Holdings 3 stocks · $58.1M
DNLI Denali Therapeutics Inc. 85.26% 3,410,732 $49.5M Reduce -11.7%
SANA Sana Biotechnology Inc. 11.13% 1,820,937 $6.5M Reduce -24.8%
EGHT 8X8 Inc. 3.62% 990,580 $2.1M No change

Portfolio Sells Q2 2025 → Q3 2025
DNLI Denali Therapeutics Inc. Reduce -11.7% 85.26% −1.08
SANA Sana Biotechnology Inc. Reduce -24.8% 11.13% +0.56

Portfolio Buys Q2 2025 → Q3 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 3$53.5MDNLI, SANA, EGHT
Q1 2026Amended 3$46.3MDNLI, SANA, EGHT
Q4 2025 3$53.3MDNLI, SANA, EGHT
Q3 2025 3$58.1MDNLI, SANA, EGHT
Q2 2025 3$62.6MDNLI, SANA, EGHT
Q1 2025 3$63.2MDNLI, SANA, EGHT
Q4 2024 703$2.9BIVV, NVDA, DNLI, QQQ, AMZN
Q3 2024 508$1.8BSPY, DNLI, NVDA, CRM, AA
Q2 2024 158$1.3BIVV, DNLI, NVDA, IWM, AAPL
Q1 2024 155$1.1BDNLI, SANA, SPY, ASML, NI