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Thomas Steyer Farallon Capital Management
AUM
$21.7B
Turnover
63.92%
1-Year Est. Return
79.24%
Thomas Steyer founded Farallon Capital Management, a pioneering multi-strategy firm spanning credit, equities, real estate, and event-driven investing. Farallon became known for rigorous research and opportunistic capital allocation across cycles. Although Steyer later focused on public advocacy, the Farallon name remains important in hedge fund history and ongoing 13F tracking.
This Fund
S&P 500
This Quarter Est. Return
+33.18%
1 Year Est. Return
+79.24%
3 Year Est. Return
+204.51%
5 Year Est. Return
+270.91%
10 Year Est. Return
+1,884.18%
AUM
$21.7B
AUM Growth
+$2.61B
(+14%)
Cap. Flow
-$3.46B
Cap. Flow % of AUM
Cap. Flow %
-15.95%
Top 10 Holdings %
Top 10 Hldgs %
62.14%
Holding
194
New
19
Increased
30
Reduced
23
Closed
105
Avg Time Held
Equity + Options
1.9
years
Top 10 Avg Time Held
Equity + Options
0.5
years
Top 20 Avg Time Held
Equity + Options
1
year
Avg Time Held Equity only
2
years
Top 10 Avg Time Held Equity only
0.8
years
Top 20 Avg Time Held Equity only
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boston Scientific
BSX
|
+$166M |
| 2 |
Roivant Sciences
ROIV
|
+$137M |
| 3 |
Immunovant
IMVT
|
+$130M |
| 4 |
BridgeBio Pharma
BBIO
|
+$96.5M |
| 5 |
Baidu
BIDU
|
+$94.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$498M |
| 2 |
Amazon
AMZN
|
+$398M |
| 3 |
Charles Schwab
SCHW
|
+$372M |
| 4 |
Aon
AON
|
+$365M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$286M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 54.84% |
| 2 | Miscellaneous | 21.83% |
| 3 | Communication Services | 8.41% |
| 4 | Technology | 5.7% |
| 5 | Financials | 3.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $4.48B | 20.67% |
6,000,000
+3,700,000
| +161% | +$2.68B |
2025 Q3
3 quarters
|
|
2
Revolution Medicines
RVMD
$38.1B
| $2.54B | 11.71% |
13,550,796
-54,000
| -0.4% | -$7.89M |
2021 Q1
21 quarters
|
|
3
DELISTED
Electronic Arts
EA
| $1.62B | 7.49% |
7,919,500
+449,500
| +6% | +$91M |
2025 Q4
2 quarters
|
|
|
4
BridgeBio Pharma
BBIO
$13B
| $800M | 3.69% |
10,743,063
+1,377,600
| +15% | +$96.5M |
2024 Q3
7 quarters
|
|
5
Protagonist Therapeutics
PTGX
$8.33B
| $778M | 3.59% |
6,348,906
| – | – |
2017 Q4
34 quarters
|
|
6
Exelixis
EXEL
$15.4B
| $733M | 3.38% |
13,468,010
+357,000
| +3% | +$17.4M |
2018 Q3
31 quarters
|
|
7
Liquidia Corp
LQDA
$3.07B
| $667M | 3.08% |
8,365,038
-291,000
| -3% | -$15.6M |
2024 Q1
9 quarters
|
|
|
8
Amazon
AMZN
$2.7T
| $628M | 2.9% |
2,632,994
-1,585,400
| -38% | -$398M |
2025 Q2
4 quarters
|
|
9
Lantheus
LNTH
$6.51B
| $619M | 2.86% |
5,583,479
| – | – |
2023 Q1
13 quarters
|
|
10
Natera
NTRA
$56.7B
| $602M | 2.78% |
2,218,366
-989,000
| -31% | -$211M |
2021 Q2
20 quarters
|
|
11
UnitedHealth
UNH
$360B
| $528M | 2.44% |
1,270,532
-551,174
| -30% | -$204M |
2023 Q1
13 quarters
|
|
12
Thermo Fisher Scientific
TMO
$255B
| $526M | 2.43% |
1,049,185
+167,700
| +19% | +$80.5M |
2019 Q4
26 quarters
|
|
|
13
Roivant Sciences
ROIV
$24.2B
| $506M | 2.34% |
14,309,000
+4,634,000
| +48% | +$137M |
2023 Q2
12 quarters
|
|
|
14
Aon
AON
$62.1B
| $459M | 2.12% |
1,382,562
-1,130,076
| -45% | -$365M |
2024 Q1
9 quarters
|
|
|
15
Boston Scientific
BSX
$64.3B
| $449M | 2.07% |
10,521,184
+3,050,500
| +41% | +$166M |
2020 Q3
23 quarters
|
|
16
Broadcom
AVGO
$1.57T
| $435M | 2.01% |
1,151,800
-627,700
| -35% | -$252M |
2025 Q4
2 quarters
|
|
|
17
Microsoft
MSFT
$3.93T
| $415M | 1.92% |
1,112,863
-1,231,916
| -53% | -$498M |
2013 Q3
51 quarters
|
|
18
Tango Therapeutics
TNGX
$3.72B
| $384M | 1.77% |
12,277,000
+3,179,589
| +35% | +$78.6M |
2024 Q4
6 quarters
|
|
19
KKR & Co
KKR
$77.4B
| $378M | 1.74% |
4,118,300
-553,500
| -12% | -$53.7M |
2025 Q4
2 quarters
|
|
20
Synopsys
SNPS
$87.1B
| $370M | 1.71% |
829,600
-383,700
| -32% | -$180M |
2025 Q4
2 quarters
|
|
21
Beam Therapeutics
BEAM
$2.42B
| $351M | 1.62% |
10,236,396
+101,700
| +1% | +$3.07M |
2021 Q1
21 quarters
|
|
22
DELISTED
Crinetics Pharmaceuticals
CRNX
| $336M | 1.55% |
8,989,098
+651,000
| +8% | +$24.2M |
2023 Q3
11 quarters
|
|
23
GRAIL Inc
GRAL
$5.26B
| $284M | 1.31% |
4,161,584
+907,900
| +28% | +$53.5M |
2025 Q2
4 quarters
|
|
24
Wabtec
WAB
$48.4B
| $241M | 1.11% |
894,503
-714,900
| -44% | -$189M |
2017 Q1
37 quarters
|
|
|
25
Immunovant
IMVT
$5.52B
| $224M | 1.03% |
5,805,000
+4,259,000
| +275% | +$130M |
2024 Q2
8 quarters
|
|
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Thomas Steyer's Q2 2026 Portfolio in Review
As of Q2 2026, Thomas Steyer held 194 positions worth $21.7B, up 14% from $19.1B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Thomas Steyer withdrew a net $3.46B in Q2 2026, closing 105 positions and reducing 23 holdings. Its most notable exit was Charles Schwab, an estimated $372M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 55% of assets, up from 47% a quarter earlier, followed by Miscellaneous and Communication Services.
Against the trend, Thomas Steyer opened a new position in Parabilis Medicines Inc worth $64.8M.
- Thomas Steyer's largest Q2 2026 buy was Parabilis Medicines Inc: 2,368,200 shares worth $64.8M.
- Thomas Steyer added most to Boston Scientific in Q2 2026, an estimated $166M increase.
- Thomas Steyer's biggest Q2 2026 reduction was Microsoft, cutting an estimated $498M.
- Thomas Steyer fully exited Charles Schwab in Q2 2026, selling an estimated $372M.
- Thomas Steyer's ten largest holdings make up 62% of its $21.7B portfolio in Q2 2026.
- Thomas Steyer opened 19 new positions and closed 105 in Q2 2026.
- Thomas Steyer's portfolio value rose 14% quarter-over-quarter to $21.7B.
Based on Farallon Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.