SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Crestline Management, L.P.

CIK 0001536054 · 201 MAIN STREET, SUITE 2100, FORT WORTH, TX, 76102 · 817.339.7483

Reported Value
$772M
Q4 2019
Positions
41
Filings on Record
31
2019–present window
Filed
Feb 12, 2020
original filing

Summary

Crestline Management, L.P. reported $772M in U.S.-listed holdings across 41 positions for Q4 2019.

The portfolio is heavily concentrated: DNLI alone accounts for 43.9% of reported value.

Compared with Q3 2019, the fund opened 25 new positions and exited 63.

Portfolio Metrics

Turnover
+32.3%
vs prior filed quarter
Top-10 Concentration
+75.1%
share of reported value
Largest Position
+43.9%
Denali Therapeutics
New / Exited
25 / 63
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $461MQ1 ’19Q2 ’19: $743MQ3 ’19: $621MQ4 ’19: $772MQ1 ’20: $347MQ1 ’20Q2 ’20: $546MQ3 ’20: $678MQ4 ’20: $943MQ1 ’21: $788MQ1 ’21Q2 ’21: $1.2BQ3 ’21: $1.1BQ4 ’21: $1.3BQ1 ’22: $834MQ1 ’22Q2 ’22: $766MQ3 ’22: $740MQ4 ’22: $682MQ1 ’23: $842MQ1 ’23Q2 ’23: $958MQ3 ’23: $858MQ4 ’23: $1.2BQ1 ’24: $1.1BQ1 ’24Q2 ’24: $1.3BQ3 ’24: $1.9BQ4 ’24: $3.0BQ1 ’25: $63MQ1 ’25Q2 ’25: $63MQ3 ’25: $58MQ4 ’25: $53MQ1 ’26: $46MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 82.2%REIT: 12.3%Other: 4.5%ETP: 0.8%ADR: 0.2%
  • Common Stock · 82.2% · $635M
  • REIT · 12.3% · $95M
  • Other · 4.5% · $35M
  • ETP · 0.8% · $6M
  • ADR · 0.2% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BRK/BBERKSHIRE HATHAWAY INC DELNEW+247.0K247.0K+$56M$56M
ADBEADOBE INCNEW+99.0K99.0K+$33M$33M
AMDADVANCED MICRO DEVICES INCNEW+693.0K693.0K+$32M$32M
CRMSALESFORCE COM INCNEW+176.0K176.0K+$29M$29M
GENERAL ELECTRIC CONEW+1.74M1.74M+$19M$19M
COSTCOSTCO WHSL CORP NEWNEW+58.0K58.0K+$17M$17M
AMGNAMGEN INCNEW+60.0K60.0K+$14M$14M
CVXCHEVRON CORP NEWNEW+120.0K120.0K+$14M$14M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1DNLIDENALI THERAPEUTICS INChistory →COM43.90%$339M19.46M
2BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW7.24%$56M247.0K
3ADBEADOBE INChistory →COM4.23%$33M99.0K
4AMDADVANCED MICRO DEVICES INChistory →COM4.12%$32M693.0K
5CRMSALESFORCE COM INChistory →COM3.71%$29M176.0K
6METAFACEBOOK INChistory →CL A2.66%$21M100.0K
7UNHUNITEDHEALTH GROUP INChistory →COM2.59%$20M68.0K
8GENERAL ELECTRIC COCOM2.51%$19M1.74M
9COSTCOSTCO WHSL CORP NEWhistory →COM2.21%$17M58.0K
10AMHAMERICAN HOMES 4 RENThistory →CL A1.92%$15M566.2K
11AMGNAMGEN INChistory →COM1.87%$14M60.0K
12CVXCHEVRON CORP NEWhistory →COM1.87%$14M120.0K
13PARAMOUNT GROUP INCCOM1.83%$14M1.02M
14FEDERAL REALTY INVT TRSH BEN INT NEW1.80%$14M107.8K
15NVDANVIDIA CORPhistory →COM1.77%$14M58.0K
16AREALEXANDRIA REAL ESTATE EQ INhistory →COM1.65%$13M79.1K
17HUDSON PAC PPTYS INCCOM1.46%$11M300.4K
18ELVANTHEM INChistory →COM1.45%$11M37.0K
19AKRACADIA RLTY TRhistory →COM SH BEN INT1.27%$10M379.5K
20LEXINGTON REALTY TRUSTCOM1.24%$10M901.0K
21MUMICRON TECHNOLOGY INChistory →COM1.14%$9M163.0K
22WFCWELLS FARGO CO NEWhistory →COM1.09%$8M156.0K
23TRTXTPG RE FIN TR INCCOM0.98%$8M374.3K
24SPYSPDR S&P 500 ETF TRTR UNIT0.82%$6M19.7K
25HEALTHCARE TR AMER INCCL A NEW0.64%$5M162.1K
26DOCHEALTHPEAK PPTYS INCCOM0.60%$5M135.0K
27METMETLIFE INCCOM0.47%$4M70.6K
28AON PLCSHS CL A0.35%$3M13.0K
29PLYMPLYMOUTH INDL REIT INCCOM0.33%$3M138.9K
30AXA EQUITABLE HLDGS INCCOM0.28%$2M86.8K
31ACGLARCH CAP GROUP LTDORD0.25%$2M45.0K
32ALLALLSTATE CORPCOM0.25%$2M16.9K
33CBCHUBB LIMITEDCOM0.22%$2M10.9K
34ATHENE HLDG LTDCL A0.22%$2M36.0K
35KMPRKEMPER CORP DELCOM0.20%$2M20.1K
36XPXP INCCL A0.20%$2M40.0K
37HCMHUTCHISON CHINA MEDITECH LTDSPONSORED ADR0.19%$1M57.2K
38CNOCNO FINL GROUP INCCOM0.16%$1M67.8K
39UALUNITED AIRLINES HLDGS INCCOM0.15%$1M12.7K
40BILLBILL COM HLDGS INCCOM0.10%$761,00020.0K
41PIIMPINJ INCCOM0.08%$647,00025.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$46M3May 15, 2026RESTATEMENTchanges · EDGAR ↗
Q4 2025$53M3Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$58M3Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$63M3Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$63M3May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.0B705Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.9B514Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.3B159Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.1B157May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.2B157Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$858M143Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$958M148Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$842M157May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$682M165Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$740M201Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$766M221Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$834M256May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.3B227Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.1B236Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.2B177Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$788M98May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$943M141Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$678M91Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$546M160Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$347M32May 13, 2020RESTATEMENTchanges · EDGAR ↗
Q4 2019$772M41Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$621M79Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$743M82Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$461M3May 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.