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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
-0.07%
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
$19.1B
AUM Growth
-$4.04B
Cap. Flow
-$3.24B
Cap. Flow %
-16.98%
Top 10 Hldgs %
50.33%
Holding
204
New
48
Increased
30
Reduced
30
Closed
31

Top Buys

Rank Stock Value
1
EA
Electronic Arts
EA
+$492M
2
AVGO icon
Broadcom
AVGO
+$292M
3
KKR icon
KKR & Co
KKR
+$280M
4
ROIV icon
Roivant Sciences
ROIV
+$248M
5
MA icon
Mastercard
MA
+$138M

Top Sells

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$650M
2
CYBR
CyberArk
CYBR
+$470M
3
CRM icon
Salesforce
CRM
+$334M
4
NDAQ icon
Nasdaq
NDAQ
+$290M
5
RNAM
Avidity Biosciences
RNAM
+$233M

Sector Composition

Rank Sector Weight
1 Healthcare 46.53%
2 Communication Services 11.31%
3 Financials 11.23%
4 Technology 10.28%
5 Consumer Discretionary 4.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBNX
51
Beta Bionics
BBNX
$857M
$36.2M 0.19%
3,607,920
-706,000
-16% -$10.4M
ASMB icon
52
Assembly Biosciences
ASMB
$700M
$34.1M 0.18%
1,227,590
– –
JOYY
53
JOYY Inc
JOYY
$3.71B
$33.8M 0.18%
578,200
– –
NTES icon
54
NetEase
NTES
$82.1B
$32.6M 0.17%
+291,219
New +$36.1M
NVO
55
Novo Nordisk
NVO
$207B
$28.7M 0.15%
+782,000
New +$37.1M
BITW
56
Bitwise 10 Crypto Index ETF
BITW
$748M
$26.9M 0.14%
603,000
-2,782,500
-82% -$141M
PCSC
57
DELISTED
Perceptive Capital Solutions
PCSC
$24.7M 0.13%
2,250,000
– –
RPRX icon
58
Royalty Pharma
RPRX
$27.3B
$23.6M 0.12%
+493,000
New +$21.6M
NERV icon
59
Minerva Neurosciences
NERV
$231M
$14.2M 0.07%
2,365,000
– –
CECO icon
60
Ceco Environmental
CECO
$4.19B
$13.9M 0.07%
+234,000
New +$15.1M
AVTX icon
61
Avalo Therapeutics
AVTX
$1.06B
$13.7M 0.07%
+916,000
New +$14.3M
CGON icon
62
CALL
CG Oncology
CGON
$7.07B
$13.5M 0.07%
+200,000
New +$11.3M
GDS icon
63
GDS Holdings
GDS
$6.58B
$11.8M 0.06%
+292,000
New +$12.5M
MAZE
64
Maze Therapeutics
MAZE
$1.63B
$11.1M 0.06%
+373,000
New +$16.5M
TEVA icon
65
Teva Pharmaceuticals
TEVA
$43.5B
$10.7M 0.06%
354,000
+314,000
+785% +$10.1M
FORM icon
66
FormFactor
FORM
$8.92B
$5.48M 0.03%
+56,500
New +$4.86M
MTZ icon
67
MasTec
MTZ
$21.4B
$5.47M 0.03%
+17,000
New +$4.6M
ENTG icon
68
Entegris
ENTG
$22B
$5.33M 0.03%
+45,500
New +$5.38M
C icon
69
Citigroup
C
$221B
$5.33M 0.03%
+47,000
New +$5.35M
VNET
70
VNET Group
VNET
$1.91B
$5.23M 0.03%
623,347
-5,662,039
-90% -$60M
H icon
71
Hyatt Hotels
H
$17B
$5.18M 0.03%
+36,000
New +$5.71M
WAL icon
72
Western Alliance Bancorporation
WAL
$8.69B
$5.17M 0.03%
+73,000
New +$6.08M
TKR icon
73
Timken Company
TKR
$8.67B
$5.13M 0.03%
+51,000
New +$5.07M
FLEX icon
74
Flex
FLEX
$40.8B
$5.11M 0.03%
+78,000
New +$4.99M
SPGI icon
75
S&P Global
SPGI
$127B
$5.1M 0.03%
+12,000
New +$5.57M
1 2
3
4 5

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BPA
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PAG
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ETC
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Thomas Steyer's Q1 2026 Portfolio in Review

As of Q1 2026, Thomas Steyer held 204 positions worth $19.1B, down 17% from $23.1B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Thomas Steyer withdrew a net $3.24B in Q1 2026, closing 31 positions and reducing 30 holdings. Its most notable exit was Exact Sciences, an estimated $650M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 47% of assets, up from 41% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Thomas Steyer opened a new position in Dianthus Therapeutics worth $70.2M.

  • Thomas Steyer's largest Q1 2026 buy was Dianthus Therapeutics: 836,000 shares worth $70.2M.
  • Thomas Steyer added most to Electronic Arts in Q1 2026, an estimated $492M increase.
  • Thomas Steyer's biggest Q1 2026 reduction was Wabtec, cutting an estimated $210M.
  • Thomas Steyer fully exited Exact Sciences in Q1 2026, selling an estimated $650M.
  • Thomas Steyer's ten largest holdings make up 50% of its $19.1B portfolio in Q1 2026.
  • Thomas Steyer opened 48 new positions and closed 31 in Q1 2026.
  • Thomas Steyer's portfolio value fell 17% quarter-over-quarter to $19.1B.

Based on Farallon Capital Management's 13F filing for Q1 2026, filed 15 May 2026.