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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
EHC icon
51
Encompass Health
EHC
$11.9B
$62.7M 0.3%
619,000
+158,000
+34% +$15.4M
EDU icon
52
New Oriental
EDU
$8.88B
$62.4M 0.3%
1,305,150
-1,054,000
-45% -$54.2M
CNTA
53
DELISTED
Centessa Pharmaceuticals
CNTA
$62.3M 0.3%
4,334,318
+835,609
+24% +$13.7M
LQDA icon
54
Liquidia Corp
LQDA
$6.14B
$58.9M 0.28%
3,990,956
+700,000
+21% +$10.2M
AZEK
55
DELISTED
The AZEK Co
AZEK
$55.7M 0.27%
+1,140,000
New +$54M
FLUT icon
56
Flutter Entertainment
FLUT
$17.8B
$53.5M 0.26%
241,467
+151,167
+167% +$39.2M
AMED
57
DELISTED
Amedisys
AMED
$48.6M 0.23%
525,000
-275,000
-34% -$25.4M
ALKS icon
58
Alkermes
ALKS
$8.11B
$45.9M 0.22%
+1,389,800
New +$45.3M
ABT icon
59
Abbott
ABT
$202B
$44.2M 0.21%
+333,000
New +$42.4M
GEHC icon
60
GE HealthCare
GEHC
$33.8B
$43.3M 0.21%
537,000
+413,000
+333% +$35.5M
BBNX
61
Beta Bionics
BBNX
$857M
$40.8M 0.2%
+3,332,220
New +$62.1M
CAH icon
62
Cardinal Health
CAH
$53.4B
$37.6M 0.18%
+273,000
New +$34.8M
HQY icon
63
HealthEquity
HQY
$8.81B
$37.3M 0.18%
421,800
+419,000
+14,964% +$43M
JOYY
64
JOYY Inc
JOYY
$3.71B
$32.7M 0.16%
+780,000
New +$35.1M
WGS icon
65
GeneDx Holdings
WGS
$2.6B
$26.8M 0.13%
303,000
+108,000
+55% +$9.37M
CAPR icon
66
Capricor Therapeutics
CAPR
$366M
$21.4M 0.1%
2,250,400
– –
VNET
67
VNET Group
VNET
$1.91B
$20M 0.1%
2,439,120
+1,789,120
+275% +$16.4M
SVRA icon
68
Savara
SVRA
$1.15B
$18.9M 0.09%
6,835,000
– –
LTM
69
LATAM Airlines Group S.A.
LTM
$14.8B
$17.6M 0.08%
562,010
-56,459
-9% -$1.72M
TECX
70
Tectonic Therapeutic
TECX
$736M
$15.1M 0.07%
853,050
+140,000
+20% +$4.56M
ENTA icon
71
Enanta Pharmaceuticals
ENTA
$392M
$11.7M 0.06%
2,122,262
+14,000
+0.7% +$86.5K
JNPR
72
DELISTED
Juniper Networks
JNPR
$10.7M 0.05%
295,000
-3,930,000
-93% -$144M
NUVL
73
DELISTED
Nuvalent
NUVL
$10.6M 0.05%
150,000
– –
TYRA icon
74
Tyra Biosciences
TYRA
$1.55B
$10.6M 0.05%
1,143,818
+142,837
+14% +$1.85M
MARA icon
75
Marathon Digital Holdings
MARA
$4.35B
$9.6M 0.05%
835,000
+280,000
+50% +$4.45M
1 2
3
4 5

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OSAM
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BPA
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CHP
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PAG
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ETC
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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.