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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
WELL icon
51
Welltower
WELL
$172B
$63.7M 0.28%
+343,000
New +$64.1M
TRU icon
52
TransUnion
TRU
$16.2B
$57.9M 0.25%
675,000
-4,057,075
-86% -$333M
TYRA icon
53
Tyra Biosciences
TYRA
$1.55B
$54.3M 0.24%
2,066,818
+923,000
+81% +$17M
VNET
54
VNET Group
VNET
$1.91B
$53.2M 0.23%
6,285,386
+796,266
+15% +$7.38M
ABVX
55
Abivax
ABVX
$10B
$52.2M 0.23%
387,000
-418,000
-52% -$45.6M
ENTA icon
56
Enanta Pharmaceuticals
ENTA
$392M
$43.7M 0.19%
2,772,262
+650,000
+31% +$8.26M
INSM icon
57
CALL
Insmed
INSM
$27.5B
$43.5M 0.19%
+250,000
New +$45.6M
ASMB icon
58
Assembly Biosciences
ASMB
$700M
$41.8M 0.18%
1,227,590
– –
BIDU icon
59
Baidu
BIDU
$31.6B
$41.2M 0.18%
315,300
+107,304
+52% +$13.3M
ALNY icon
60
PUT
Alnylam Pharmaceuticals
ALNY
$31.6B
$39.8M 0.17%
100,000
– –
JOYY
61
JOYY Inc
JOYY
$3.71B
$37.4M 0.16%
578,200
-46,800
-7% -$2.86M
ETHA
62
iShares Ethereum Trust ETF
ETHA
$7.26B
$33.2M 0.14%
1,481,001
-5,969,729
-80% -$156M
GPCR icon
63
Structure Therapeutics
GPCR
$3.5B
$31.6M 0.14%
+454,000
New +$18.5M
MLYS icon
64
Mineralys Therapeutics
MLYS
$2.27B
$29.9M 0.13%
823,296
-849,757
-51% -$34.1M
SUNC
65
SunocoCorp LLC
SUNC
$3.98B
$29.9M 0.13%
+606,277
New +$30.5M
PCSC
66
DELISTED
Perceptive Capital Solutions
PCSC
$29.3M 0.13%
+2,250,000
New +$26.2M
TERN
67
DELISTED
Terns Pharmaceuticals
TERN
$25.9M 0.11%
+642,000
New +$14.8M
EHC icon
68
Encompass Health
EHC
$11.9B
$24.9M 0.11%
234,500
-336,500
-59% -$39M
AMKR icon
69
Amkor Technology
AMKR
$12.5B
$18.3M 0.08%
+464,000
New +$16.5M
VSTM icon
70
Verastem
VSTM
$624M
$15.4M 0.07%
+2,000,000
New +$17.8M
DOCS icon
71
Doximity
DOCS
$4.51B
$13.8M 0.06%
311,000
-63,000
-17% -$3.54M
GH icon
72
Guardant Health
GH
$22.9B
$11.1M 0.05%
109,000
+101,000
+1,263% +$9.04M
MDLN
73
Medline Inc
MDLN
$30.1B
$10.9M 0.05%
+260,000
New +$11M
EDU icon
74
New Oriental
EDU
$8.88B
$10.8M 0.05%
196,000
-369,150
-65% -$20.2M
NERV icon
75
Minerva Neurosciences
NERV
$231M
$9.51M 0.04%
+2,365,000
New +$8.78M
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.