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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
+18.01%
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
$23.1B
AUM Growth
-$1.32B
Cap. Flow
-$3.13B
Cap. Flow %
-13.54%
Top 10 Hldgs %
44.45%
Holding
175
New
31
Increased
22
Reduced
37
Closed
21

Top Buys

Rank Stock Value
1
EA
Electronic Arts
EA
+$1.02B
2
EXAS
Exact Sciences
EXAS
+$514M
3
CYBR
CyberArk
CYBR
+$507M
4
SNPS icon
Synopsys
SNPS
+$444M
5
AVGO icon
Broadcom
AVGO
+$319M

Top Sells

Rank Stock Value
1
ADSK icon
Autodesk
ADSK
+$528M
2
TMO icon
Thermo Fisher Scientific
TMO
+$352M
3
TRU icon
TransUnion
TRU
+$333M
4
INTU icon
Intuit
INTU
+$333M
5
K
Kellanova
K
+$323M

Sector Composition

Rank Sector Weight
1 Healthcare 41.06%
2 Technology 12.67%
3 Financials 9.75%
4 Communication Services 8.88%
5 Consumer Discretionary 4.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRNX icon
26
Crinetics Pharmaceuticals
CRNX
$8.99B
$323M 1.4%
6,933,098
+1,163,000
+20% +$51.8M
AVGO icon
27
Broadcom
AVGO
$1.75T
$309M 1.34%
+892,400
New +$319M
LQDA icon
28
Liquidia Corp
LQDA
$6.14B
$299M 1.29%
8,656,038
+90,400
+1% +$2.57M
NDAQ icon
29
Nasdaq
NDAQ
$54.9B
$290M 1.26%
2,989,213
-633,830
-17% -$57M
BEAM icon
30
Beam Therapeutics
BEAM
$3.07B
$279M 1.21%
10,063,111
– –
KKR icon
31
KKR & Co
KKR
$97.4B
$257M 1.11%
+2,017,700
New +$251M
GOOG icon
32
Alphabet (Google) Class C
GOOG
$4.18T
$247M 1.07%
787,040
-333,900
-30% -$95.7M
MCK icon
33
McKesson
MCK
$100B
$245M 1.06%
298,900
-28,200
-9% -$23M
V icon
34
Visa
V
$693B
$244M 1.06%
695,910
+96,100
+16% +$32.7M
RNAM
35
DELISTED
Avidity Biosciences
RNAM
$233M 1.01%
+3,233,000
New +$209M
NYT icon
36
New York Times
NYT
$10.6B
$228M 0.99%
3,280,678
-1,705,067
-34% -$106M
DAY
37
DELISTED
Dayforce
DAY
$202M 0.88%
+2,925,000
New +$201M
GRAL
38
GRAIL Inc
GRAL
$3.55B
$201M 0.87%
2,342,684
+993,684
+74% +$85.9M
BITW
39
Bitwise 10 Crypto Index ETF
BITW
$748M
$199M 0.86%
+3,385,500
New +$202M
CBRE icon
40
CBRE Group
CBRE
$44B
$158M 0.68%
983,771
-632,267
-39% -$99.4M
AGIO icon
41
Agios Pharmaceuticals
AGIO
$1.98B
$140M 0.61%
5,159,505
-621,561
-11% -$21.8M
CNTA
42
DELISTED
Centessa Pharmaceuticals
CNTA
$134M 0.58%
5,377,068
+1,045,750
+24% +$26.5M
BBNX
43
Beta Bionics
BBNX
$857M
$131M 0.57%
4,313,920
– –
CAH icon
44
Cardinal Health
CAH
$53.4B
$118M 0.51%
576,000
+323,000
+128% +$60.8M
TNGX icon
45
Tango Therapeutics
TNGX
$4.03B
$116M 0.5%
13,061,411
+2,304,411
+21% +$19.9M
HIMS icon
46
Hims & Hers Health
HIMS
$7.88B
$110M 0.48%
3,386,986
-7,359,866
-68% -$315M
IBIT icon
47
iShares Bitcoin Trust
IBIT
$57.7B
$106M 0.46%
2,137,100
-4,855,600
-69% -$276M
MA icon
48
Mastercard
MA
$509B
$98.6M 0.43%
172,671
-41,100
-19% -$23M
CDTX
49
DELISTED
Cidara Therapeutics
CDTX
$84.6M 0.37%
382,800
-125,200
-25% -$20.2M
THC icon
50
Tenet Healthcare
THC
$22.6B
$74M 0.32%
372,153
-41,847
-10% -$8.46M
1
2
3 4 5

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Thomas Steyer's Q4 2025 Portfolio in Review

As of Q4 2025, Thomas Steyer held 175 positions worth $23.1B, down 5.4% from $24.4B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Thomas Steyer withdrew a net $3.13B in Q4 2025, closing 21 positions and reducing 37 holdings. Its most notable exit was Autodesk, an estimated $528M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 41% of assets, up from 33% a quarter earlier, followed by Technology and Financials.

Against the trend, Thomas Steyer opened a new position in Electronic Arts worth $1.03B.

  • Thomas Steyer's largest Q4 2025 buy was Electronic Arts: 5,035,000 shares worth $1.03B.
  • Thomas Steyer added most to Boston Scientific in Q4 2025, an estimated $264M increase.
  • Thomas Steyer's biggest Q4 2025 reduction was Thermo Fisher Scientific, cutting an estimated $352M.
  • Thomas Steyer fully exited Autodesk in Q4 2025, selling an estimated $528M.
  • Thomas Steyer's ten largest holdings make up 44% of its $23.1B portfolio in Q4 2025.
  • Thomas Steyer opened 31 new positions and closed 21 in Q4 2025.
  • Thomas Steyer's portfolio value fell 5.4% quarter-over-quarter to $23.1B.

Based on Farallon Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.