Thomas Steyer Farallon Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boston Scientific
BSX
|
+$319M |
| 2 |
IMMU
Immunomedics Inc
IMMU
|
+$296M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$216M |
| 4 |
New York Times
NYT
|
+$130M |
| 5 |
Hilton Worldwide
HLT
|
+$129M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PPLI
People Inc
PPLI
|
+$456M |
| 2 |
WUBA
58.com Inc
WUBA
|
+$268M |
| 3 |
Salesforce
CRM
|
+$181M |
| 4 |
Qiagen
QGEN
|
+$123M |
| 5 |
CZR
Caesars Entertainment Corporation
CZR
|
+$97.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 44.6% |
| 2 | Communication Services | 17.58% |
| 3 | Technology | 8.94% |
| 4 | Financials | 7.39% |
| 5 | Industrials | 5.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
New Oriental
EDU
$8.88B
| $205M | 1.42% |
1,368,778
+737,778
| +117% | +$107M |
|
27
Blackstone
BX
$108B
| $200M | 1.38% |
3,829,336
+1,061,017
| +38% | +$56.8M |
|
28
Iovance Biotherapeutics
IOVA
$3.76B
| $196M | 1.36% |
5,955,000
-582,500
| -9% | -$17.9M |
|
29
Ascendis Pharma A/S
ASND
$16.6B
| $193M | 1.33% |
1,250,000
+110,000
| +10% | +$15.8M |
|
30
Alibaba
BABA
$286B
| $180M | 1.25% |
612,585
-314,115
| -34% | -$82.8M |
|
31
General Dynamics
GD
$104B
| $177M | 1.22% |
1,277,107
+125,626
| +11% | +$18.6M |
|
|
32
Salesforce
CRM
$171B
| $176M | 1.21% |
698,315
-827,333
| -54% | -$181M |
|
33
Alnylam Pharmaceuticals
ALNY
$31.6B
| $175M | 1.21% |
1,200,000
+150,000
| +14% | +$21.3M |
|
|
MYOK
34
DELISTED
MyoKardia, Inc. Common Stock
MYOK
| $167M | 1.16% |
1,225,000
+350,000
| +40% | +$37.2M |
|
|
WMGI
35
DELISTED
Wright Medical Group Inc
WMGI
| $156M | 1.08% |
5,097,546
+997,546
| +24% | +$30.1M |
|
36
TransUnion
TRU
$16.2B
| $153M | 1.06% |
1,814,132
+621,385
| +52% | +$53.7M |
|
37
Equinix
EQIX
$105B
| $152M | 1.05% |
200,164
-67,433
| -25% | -$51M |
|
|
MRTX
38
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $145M | 1.01% |
875,000
+225,000
| +35% | +$30.8M |
|
|
39
Hilton Worldwide
HLT
$73.5B
| $132M | 0.91% |
+1,545,877
| New | +$129M |
|
|
PLYA
40
DELISTED
Playa Hotels & Resorts
PLYA
| $128M | 0.89% |
30,606,930
| – | – |
|
41
Fate Therapeutics
FATE
$279M
| $125M | 0.86% |
3,125,000
-375,000
| -11% | -$13.1M |
|
42
Howmet Aerospace
HWM
$108B
| $121M | 0.83% |
7,210,388
+6,011,202
| +501% | +$100M |
|
|
LVGO
43
DELISTED
Livongo Health, Inc. Common Stock
LVGO
| $116M | 0.8% |
+830,000
| New | +$101M |
|
|
BMY.RT
44
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| $99.2M | 0.69% |
44,073,000
-127,000
| -0.3% | -$363K |
|
45
Cigna
CI
$73.3B
| $85.1M | 0.59% |
502,231
+2,231
| +0.4% | +$393K |
|
46
Sarepta Therapeutics
SRPT
$1.98B
| $84.3M | 0.58% |
600,000
+75,000
| +14% | +$11.4M |
|
|
MXIM
47
DELISTED
Maxim Integrated Products
MXIM
| $83.2M | 0.58% |
+1,230,000
| New | +$83.2M |
|
48
Enanta Pharmaceuticals
ENTA
$392M
| $81.3M | 0.56% |
1,775,000
+25,000
| +1% | +$1.21M |
|
49
NovoCure
NVCR
$1.99B
| $80.7M | 0.56% |
+725,000
| New | +$58M |
|
|
KYNB
50
Kyntra Bio
KYNB
$30.4M
| $76.1M | 0.53% |
74,000
+9,000
| +14% | +$9.68M |
|
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Thomas Steyer's Q3 2020 Portfolio in Review
As of Q3 2020, Thomas Steyer held 146 positions worth $14.5B, up 16% from $12.5B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Thomas Steyer deployed $582M of net new capital in Q3 2020, opening 31 new positions and adding to 52 existing holdings. Its largest new stake was Boston Scientific: 8,275,919 shares worth $316M.
By sector, the portfolio is most concentrated in Healthcare at 45% of assets, up from 43% a quarter earlier, followed by Communication Services and Technology.
On the sell side, the largest reduction was Salesforce, an estimated $181M trimmed.
- Thomas Steyer's largest Q3 2020 buy was Boston Scientific: 8,275,919 shares worth $316M.
- Thomas Steyer added most to Alphabet (Google) Class C in Q3 2020, an estimated $216M increase.
- Thomas Steyer's biggest Q3 2020 reduction was Salesforce, cutting an estimated $181M.
- Thomas Steyer fully exited People Inc in Q3 2020, selling an estimated $456M.
- Thomas Steyer's ten largest holdings make up 32% of its $14.5B portfolio in Q3 2020.
- Thomas Steyer opened 31 new positions and closed 24 in Q3 2020.
- Thomas Steyer's portfolio value rose 16% quarter-over-quarter to $14.5B.
Based on Farallon Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.