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 |
Adobe
ADBE
|
+$235M |
| 2 |
Howmet Aerospace
HWM
|
+$189M |
| 3 |
Full Truck Alliance
YMM
|
+$174M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$140M |
| 5 |
AbbVie
ABBV
|
+$133M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T-Mobile US
TMUS
|
+$588M |
| 2 |
XLRN
Acceleron Pharma
XLRN
|
+$373M |
| 3 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$327M |
| 4 |
Willis Towers Watson
WTW
|
+$319M |
| 5 |
KSU
Kansas City Southern
KSU
|
+$319M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 32.06% |
| 2 | Industrials | 13.15% |
| 3 | Technology | 13.06% |
| 4 | Financials | 12.22% |
| 5 | Communication Services | 10.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Equifax
EFX
$22.6B
| $294M | 1.47% |
1,005,183
+113,600
| +13% | +$31.6M |
|
27
Salesforce
CRM
$171B
| $283M | 1.41% |
1,113,638
-464,277
| -29% | -$130M |
|
|
SJR
28
DELISTED
Shaw Communications Inc.
SJR
| $227M | 1.13% |
7,467,800
+1,197,800
| +19% | +$35M |
|
|
29
AbbVie
ABBV
$468B
| $218M | 1.09% |
1,608,451
+1,126,603
| +234% | +$133M |
|
|
30
Adobe
ADBE
$109B
| $213M | 1.06% |
+376,000
| New | +$235M |
|
31
Charter Communications
CHTR
$17.9B
| $206M | 1.03% |
315,701
-65,300
| -17% | -$44.5M |
|
32
Alnylam Pharmaceuticals
ALNY
$31.6B
| $202M | 1.01% |
1,190,028
+375,727
| +46% | +$69.8M |
|
|
NUAN
33
DELISTED
Nuance Communications, Inc.
NUAN
| $190M | 0.95% |
3,430,681
-5,929,319
| -63% | -$327M |
|
34
Beam Therapeutics
BEAM
$3.07B
| $181M | 0.9% |
2,265,045
+547,455
| +32% | +$46.9M |
|
35
Exelixis
EXEL
$13.4B
| $162M | 0.81% |
8,859,157
-800,555
| -8% | -$15.3M |
|
36
Avantor
AVTR
$9.78B
| $154M | 0.77% |
3,642,858
+377,707
| +12% | +$14.9M |
|
|
HZNP
37
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $150M | 0.75% |
1,396,217
+224,043
| +19% | +$24.4M |
|
38
Natera
NTRA
$47.9B
| $138M | 0.69% |
1,472,715
+172,581
| +13% | +$17.9M |
|
39
CVS Health
CVS
$119B
| $132M | 0.66% |
1,281,456
+1,047,456
| +448% | +$96.8M |
|
40
Labcorp
LH
$27.3B
| $130M | 0.65% |
482,093
+67,859
| +16% | +$16.8M |
|
41
Enanta Pharmaceuticals
ENTA
$392M
| $118M | 0.59% |
1,573,829
-421,171
| -21% | -$33.1M |
|
|
42
Full Truck Alliance
YMM
$9.1B
| $117M | 0.59% |
14,007,743
+13,192,743
| +1,619% | +$174M |
|
43
Iovance Biotherapeutics
IOVA
$3.76B
| $116M | 0.58% |
6,061,973
+721,979
| +14% | +$15.9M |
|
|
COHR
44
DELISTED
Coherent Inc
COHR
| $115M | 0.57% |
430,000
+10,000
| +2% | +$2.58M |
|
45
AstraZeneca
AZN
$257B
| $111M | 0.55% |
953,078
+786,078
| +471% | +$92.5M |
|
46
Lufax Holding
LU
$1.2B
| $107M | 0.53% |
4,754,850
+1,165,625
| +32% | +$30.5M |
|
47
Cytokinetics
CYTK
$10.7B
| $98.9M | 0.49% |
2,170,342
-562,433
| -21% | -$21.7M |
|
|
CTLT
48
DELISTED
CATALENT, INC.
CTLT
| $97.8M | 0.49% |
763,561
-166,638
| -18% | -$21.4M |
|
|
BPMC
49
DELISTED
Blueprint Medicines
BPMC
| $86.9M | 0.43% |
811,747
-132,656
| -14% | -$13.9M |
|
50
PG&E
PCG
$38.8B
| $76.5M | 0.38% |
6,305,142
-986,900
| -14% | -$11.6M |
|
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Thomas Steyer's Q4 2021 Portfolio in Review
As of Q4 2021, Thomas Steyer held 342 positions worth $20B, down 6.6% from $21.4B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Thomas Steyer withdrew a net $2.71B in Q4 2021, closing 42 positions and reducing 43 holdings. Its most notable exit was T-Mobile US, an estimated $588M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 32% of assets, up from 29% a quarter earlier, followed by Industrials and Technology.
Against the trend, Thomas Steyer opened a new position in Adobe worth $213M.
- Thomas Steyer's largest Q4 2021 buy was Adobe: 376,000 shares worth $213M.
- Thomas Steyer added most to Howmet Aerospace in Q4 2021, an estimated $189M increase.
- Thomas Steyer's biggest Q4 2021 reduction was Nuance Communications, Inc., cutting an estimated $327M.
- Thomas Steyer fully exited T-Mobile US in Q4 2021, selling an estimated $588M.
- Thomas Steyer's ten largest holdings make up 37% of its $20B portfolio in Q4 2021.
- Thomas Steyer opened 43 new positions and closed 42 in Q4 2021.
- Thomas Steyer's portfolio value fell 6.6% quarter-over-quarter to $20B.
Based on Farallon Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.