Managers / Q1 2025 · view latest →
Crestline Management, L.P.
CIK 0001536054 · 201 MAIN STREET, SUITE 2100, FORT WORTH, TX, 76102 · 817.339.7483
Summary
Crestline Management, L.P. reported $63M in U.S.-listed holdings across 3 positions for Q1 2025.
The portfolio is heavily concentrated: DNLI alone accounts for 89.5% of reported value.
Compared with Q4 2024, the fund opened 0 new positions and exited 701.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 100.0% · $63M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| IVVISHARES TR | SOLD OUT | −640.0K | 0 | −$377M | $0 |
| SPYSPDR S&P 500 ETF TR | SOLD OUT | −229.0K | 0 | −$134M | $0 |
| NVDANVIDIA CORPORATION | SOLD OUT | −703.1K | 0 | −$94M | $0 |
| QQQINVESCO QQQ TR | SOLD OUT | −150.0K | 0 | −$77M | $0 |
| AMZNAMAZON COM INC | SOLD OUT | −247.3K | 0 | −$54M | $0 |
| GOOGLALPHABET INC | SOLD OUT | −233.1K | 0 | −$44M | $0 |
| JNJJOHNSON & JOHNSON | SOLD OUT | −238.6K | 0 | −$35M | $0 |
| CSCOCISCO SYS INC | SOLD OUT | −519.4K | 0 | −$31M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | DNLIDENALI THERAPEUTICS INChistory → | COM | 89.45% | $57M | 4.16M |
| 2 | SANASANA BIOTECHNOLOGY INChistory → | COM | 7.41% | $5M | 2.79M |
| 3 | EGHT8X8 INC NEWhistory → | COM | 3.13% | $2M | 990.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $46M | 3 | May 15, 2026 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2025 | $53M | 3 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $58M | 3 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $63M | 3 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $63M | 3 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $3.0B | 705 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $1.9B | 514 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $1.3B | 159 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $1.1B | 157 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $1.2B | 157 | Feb 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $858M | 143 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $958M | 148 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $842M | 157 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $682M | 165 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $740M | 201 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $766M | 221 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $834M | 256 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $1.3B | 227 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $1.1B | 236 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $1.2B | 177 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $788M | 98 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $943M | 141 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $678M | 91 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $546M | 160 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $347M | 32 | May 13, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2019 | $772M | 41 | Feb 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $621M | 79 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $743M | 82 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $461M | 3 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 1 additional manager.
- SummitTX Capital, L.P.
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 ↗.