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Thomas Steyer Farallon Capital Management

AUM $21.7B
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
+0.2%
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
$20.9B
AUM Growth
-$1.94B
Cap. Flow
-$1.04B
Cap. Flow %
-4.99%
Top 10 Hldgs %
40.27%
Holding
168
New
18
Increased
43
Reduced
28
Closed
22

Top Buys

Rank Stock Value
1
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$381M
2
MSFT icon
Microsoft
MSFT
+$266M
3
CRM icon
Salesforce
CRM
+$235M
4
K
Kellanova
K
+$186M
5
ARMK icon
Aramark
ARMK
+$178M

Top Sells

Rank Stock Value
1
ABNB icon
Airbnb
ABNB
+$319M
2
HCP
HashiCorp, Inc. Class A Common Stock
HCP
+$221M
3
AON icon
Aon
AON
+$181M
4
BMY icon
Bristol-Myers Squibb
BMY
+$180M
5
HES
Hess
HES
+$150M

Sector Composition

Rank Sector Weight
1 Healthcare 37.95%
2 Technology 14.96%
3 Financials 12.32%
4 Communication Services 7.9%
5 Industrials 5.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBRE icon
26
CBRE Group
CBRE
$44B
$326M 1.57%
2,495,700
+315,900
+14% +$42.9M
ANSS
27
DELISTED
Ansys
ANSS
$300M 1.44%
948,000
– –
SCHW
28
Charles Schwab
SCHW
$194B
$300M 1.44%
3,832,857
+663,857
+21% +$52.1M
PTGX icon
29
Protagonist Therapeutics
PTGX
$9.99B
$295M 1.42%
6,107,006
+177,000
+3% +$7.42M
WAB icon
30
Wabtec
WAB
$50.3B
$292M 1.4%
1,608,098
+177,900
+12% +$34.1M
K
31
DELISTED
Kellanova
K
$274M 1.31%
3,320,000
+2,271,182
+217% +$186M
IBIT icon
32
iShares Bitcoin Trust
IBIT
$57.7B
$271M 1.3%
5,793,800
-1,465,300
-20% -$77.6M
ADI icon
33
Analog Devices
ADI
$182B
$268M 1.28%
1,327,000
+169,800
+15% +$36.7M
GOOG icon
34
Alphabet (Google) Class C
GOOG
$4.18T
$260M 1.25%
1,666,040
-414,500
-20% -$75.9M
WWD icon
35
Woodward
WWD
$20.3B
$259M 1.24%
1,419,700
-101,600
-7% -$18.8M
HIMS icon
36
Hims & Hers Health
HIMS
$7.88B
$235M 1.13%
7,953,705
-423,295
-5% -$15.7M
BBIO icon
37
BridgeBio Pharma
BBIO
$15.9B
$198M 0.95%
5,731,000
+1,536,000
+37% +$51.8M
BEAM icon
38
Beam Therapeutics
BEAM
$3.07B
$194M 0.93%
9,928,111
+1,688,988
+20% +$44.2M
AGIO icon
39
Agios Pharmaceuticals
AGIO
$1.98B
$167M 0.8%
5,700,466
+26,000
+0.5% +$862K
V icon
40
Visa
V
$693B
$166M 0.8%
474,210
-75,300
-14% -$25.5M
CRNX icon
41
Crinetics Pharmaceuticals
CRNX
$8.99B
$154M 0.74%
4,605,098
+530,000
+13% +$19.8M
SRPT icon
42
Sarepta Therapeutics
SRPT
$1.98B
$149M 0.72%
2,341,424
-523,676
-18% -$55.1M
BHVN icon
43
Biohaven
BHVN
$2.09B
$116M 0.55%
4,813,167
+385,000
+9% +$13.6M
MA icon
44
Mastercard
MA
$509B
$110M 0.53%
201,371
-94,300
-32% -$51.3M
YMM icon
45
Full Truck Alliance
YMM
$9.1B
$94M 0.45%
7,357,207
-9,227,888
-56% -$111M
X
46
DELISTED
US Steel
X
$90.2M 0.43%
2,135,000
-1,641,000
-43% -$62.1M
CHX
47
DELISTED
ChampionX
CHX
$86.6M 0.42%
2,905,000
-930,000
-24% -$27.2M
SGI
48
Somnigroup International
SGI
$13.6B
$79.4M 0.38%
+1,326,242
New +$80.3M
WAY
49
Waystar Holding Corp
WAY
$4.8B
$75.5M 0.36%
2,020,000
+678,000
+51% +$26.8M
VRNA
50
DELISTED
Verona Pharma
VRNA
$68.9M 0.33%
+1,084,989
New +$64.9M
1
2
3 4 5

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Thomas Steyer's Q1 2025 Portfolio in Review

As of Q1 2025, Thomas Steyer held 168 positions worth $20.9B, down 8.5% from $22.8B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Thomas Steyer withdrew a net $1.04B in Q1 2025, closing 22 positions and reducing 28 holdings. Its most notable exit was Airbnb, an estimated $319M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 38% of assets, up from 34% a quarter earlier, followed by Technology and Financials.

Against the trend, Thomas Steyer opened a new position in Intra-Cellular Therapies Inc. worth $403M.

  • Thomas Steyer's largest Q1 2025 buy was Intra-Cellular Therapies Inc.: 3,055,000 shares worth $403M.
  • Thomas Steyer added most to Microsoft in Q1 2025, an estimated $266M increase.
  • Thomas Steyer's biggest Q1 2025 reduction was Aon, cutting an estimated $181M.
  • Thomas Steyer fully exited Airbnb in Q1 2025, selling an estimated $319M.
  • Thomas Steyer's ten largest holdings make up 40% of its $20.9B portfolio in Q1 2025.
  • Thomas Steyer opened 18 new positions and closed 22 in Q1 2025.
  • Thomas Steyer's portfolio value fell 8.5% quarter-over-quarter to $20.9B.

Based on Farallon Capital Management's 13F filing for Q1 2025, filed 15 May 2025.