Thomas Steyer Farallon Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
EA
Electronic Arts
EA
|
+$1.02B |
| 2 |
EXAS
Exact Sciences
EXAS
|
+$514M |
| 3 |
CYBR
CyberArk
CYBR
|
+$507M |
| 4 |
Synopsys
SNPS
|
+$444M |
| 5 |
Broadcom
AVGO
|
+$319M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Autodesk
ADSK
|
+$528M |
| 2 |
Thermo Fisher Scientific
TMO
|
+$352M |
| 3 |
TransUnion
TRU
|
+$333M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
76
GeneDx Holdings
WGS
$2.6B
| $9.1M | 0.04% |
70,000
+65,000
| +1,300% | +$8.92M |
|
|
ETH
77
Grayscale Ethereum Staking Mini ETF Shares
ETH
$2.03B
| $6.41M | 0.03% |
+228,340
| New | +$7.44M |
|
78
Prime Medicine
PRME
$615M
| $4.31M | 0.02% |
1,240,843
-3,509,157
| -74% | -$15.6M |
|
79
Oscar Health
OSCR
$9.89B
| $3.79M | 0.02% |
264,000
-3,375,000
| -93% | -$58.4M |
|
80
Madrigal Pharmaceuticals
MDGL
$11.9B
| $1.93M | 0.01% |
3,319
| – | – |
|
|
SMC
81
Summit Midstream
SMC
$470M
| $1.55M | 0.01% |
58,214
| – | – |
|
82
Novavax
NVAX
$1.47B
| $1.31M | 0.01% |
195,000
-585,000
| -75% | -$4.41M |
|
83
Schrodinger
SDGR
$1.47B
| $1.27M | 0.01% |
71,000
-213,000
| -75% | -$4.04M |
|
84
Teva Pharmaceuticals
TEVA
$43.5B
| $1.25M | 0.01% |
40,000
-4,957,000
| -99% | -$122M |
|
85
Capricor Therapeutics
CAPR
$366M
| $1.18M | 0.01% |
41,000
| – | – |
|
86
Arrowhead Research
ARWR
$12.3B
| $1.05M | ﹤0.01% |
15,800
| – | – |
|
87
Alvotech
ALVO
$1.5B
| $1.02M | ﹤0.01% |
199,675
| – | – |
|
88
BrightSpring Health Services
BTSG
$11.6B
| $824K | ﹤0.01% |
22,000
| – | – |
|
89
Roivant Sciences
ROIV
$26.2B
| $803K | ﹤0.01% |
37,000
| – | – |
|
90
Arcutis Biotherapeutics
ARQT
$3.15B
| $755K | ﹤0.01% |
26,000
| – | – |
|
91
Axsome Therapeutics
AXSM
$10.9B
| $731K | ﹤0.01% |
4,000
| – | – |
|
92
Cogent Biosciences
COGT
$6.37B
| $604K | ﹤0.01% |
17,000
| – | – |
|
93
Alkermes
ALKS
$8.11B
| $582K | ﹤0.01% |
20,800
| – | – |
|
94
Insmed
INSM
$27.5B
| $522K | ﹤0.01% |
3,000
| – | – |
|
95
Krystal Biotech
KRYS
$10.3B
| $493K | ﹤0.01% |
2,000
| – | – |
|
96
Progyny
PGNY
$1.97B
| $462K | ﹤0.01% |
18,000
| – | – |
|
97
Travere Therapeutics
TVTX
$6.19B
| $459K | ﹤0.01% |
12,000
| – | – |
|
98
HealthEquity
HQY
$8.81B
| $458K | ﹤0.01% |
5,000
| – | – |
|
99
Celcuity
CELC
$4.58B
| $399K | ﹤0.01% |
+4,000
| New | +$329K |
|
100
Omeros
OMER
$1.39B
| $395K | ﹤0.01% |
+23,000
| New | +$198K |
|
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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.