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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 | |
|---|---|---|---|---|---|---|---|
26
Twist Bioscience
TWST
$9.26B
| $220M | 1.01% |
2,136,400
+708,750
| +50% | +$46.1M |
2024 Q2
8 quarters
|
|
27
Agios Pharmaceuticals
AGIO
$2.01B
| $220M | 1.01% |
5,917,400
+233,400
| +4% | +$7.08M |
2019 Q4
26 quarters
|
|
28
Aramark
ARMK
$14.5B
| $206M | 0.95% |
3,625,731
-2,509,700
| -41% | -$124M |
2020 Q4
22 quarters
|
|
|
29
Baidu
BIDU
$27.3B
| $138M | 0.63% |
1,203,785
+760,000
| +171% | +$94.1M |
2025 Q3
3 quarters
|
|
30
Novo Nordisk
NVO
$170B
| $126M | 0.58% |
2,619,000
+1,837,000
| +235% | +$78.9M |
2026 Q1
1 quarter
|
|
31
Acadia Healthcare
ACHC
$2.78B
| $125M | 0.58% |
4,220,800
+2,484,000
| +143% | +$63.8M |
2026 Q1
1 quarter
|
|
32
BrightSpring Health Services
BTSG
$12B
| $121M | 0.56% |
1,732,800
+115,800
| +7% | +$6.43M |
2024 Q1
9 quarters
|
|
33
AstraZeneca
AZN
$256B
| $109M | 0.5% |
574,000
+347,501
| +153% | +$65.4M |
2026 Q1
1 quarter
|
|
34
Johnson & Johnson
JNJ
$611B
| $104M | 0.48% |
408,000
+260,000
| +176% | +$60.6M |
2026 Q1
1 quarter
|
|
35
PUT
iShares Semiconductor ETF
SOXX
$42.1B
| $83.3M | 0.38% |
+130,000
| New | +$66M |
2026 Q2
0 quarters
|
|
|
PBLS
36
Parabilis Medicines Inc
PBLS
$3.16B
| $64.8M | 0.3% |
+2,368,200
| New | +$65.4M |
2026 Q2
0 quarters
|
|
37
Novartis
NVS
$286B
| $56.9M | 0.26% |
+363,000
| New | +$54.4M |
2026 Q2
0 quarters
|
|
38
Guardant Health
GH
$21.4B
| $48.3M | 0.22% |
322,200
+314,200
| +3,928% | +$34.2M |
2025 Q2
4 quarters
|
|
39
Avalo Therapeutics
AVTX
$620M
| $46.2M | 0.21% |
2,498,000
+1,582,000
| +173% | +$25M |
2026 Q1
1 quarter
|
|
40
JOYY Inc
JOYY
$4.06B
| $46.1M | 0.21% |
699,200
+121,000
| +21% | +$7.53M |
2025 Q1
5 quarters
|
|
41
Assembly Biosciences
ASMB
$407M
| $44.1M | 0.2% |
1,604,590
+377,000
| +31% | +$10.3M |
2025 Q3
3 quarters
|
|
42
Enanta Pharmaceuticals
ENTA
$339M
| $35.3M | 0.16% |
2,418,202
-453,660
| -16% | -$6.1M |
2017 Q3
35 quarters
|
|
43
Maze Therapeutics
MAZE
$1.65B
| $33.1M | 0.15% |
1,107,814
+734,814
| +197% | +$19.3M |
2026 Q1
1 quarter
|
|
44
CALL
CG Oncology
CGON
$5.35B
| $28.4M | 0.13% |
400,000
+200,000
| +100% | +$13.1M |
2026 Q1
1 quarter
|
|
45
Merck
MRK
$357B
| $25.6M | 0.12% |
199,000
-162,000
| -45% | -$19M |
2026 Q1
1 quarter
|
|
46
Warby Parker
WRBY
$3.06B
| $25.1M | 0.12% |
+828,000
| New | +$20.5M |
2026 Q2
0 quarters
|
|
|
PCSC
47
DELISTED
Perceptive Capital Solutions
PCSC
| $24.5M | 0.11% |
2,250,000
| – | – |
2025 Q4
2 quarters
|
|
48
Kailera Therapeutics
KLRA
$1.51B
| $24.2M | 0.11% |
+1,100,000
| New | +$24.2M |
2026 Q2
0 quarters
|
|
49
Rio Tinto
RIO
$145B
| $17.4M | 0.08% |
183,475
+129,675
| +241% | +$13.1M |
2026 Q1
1 quarter
|
|
50
Axalta
AXTA
$7.12B
| $16.4M | 0.08% |
+478,000
| New | +$14.4M |
2026 Q2
0 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.