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 |
PXD
Pioneer Natural Resource Co.
PXD
|
+$731M |
| 2 |
HES
Hess
HES
|
+$436M |
| 3 |
Nasdaq
NDAQ
|
+$341M |
| 4 |
SPLK
Splunk Inc
SPLK
|
+$157M |
| 5 |
United Therapeutics
UTHR
|
+$110M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATVI
Activision Blizzard
ATVI
|
+$1.9B |
| 2 |
VMW
VMware, Inc
VMW
|
+$915M |
| 3 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$770M |
| 4 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$482M |
| 5 |
Aon
AON
|
+$216M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.49% |
| 2 | Technology | 11.1% |
| 3 | Financials | 9.67% |
| 4 | Industrials | 6.16% |
| 5 | Communication Services | 5.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Charles River Laboratories
CRL
$14.1B
| $473K | ﹤0.01% |
2,000
-144,000
| -99% | -$28.3M |
|
102
Lufax Holding
LU
$1.2B
| $460K | ﹤0.01% |
149,999
-1
| -0% | -$4 |
|
103
BioNTech
BNTX
$29.3B
| $406K | ﹤0.01% |
3,844
| – | – |
|
104
Alnylam Pharmaceuticals
ALNY
$31.6B
| $383K | ﹤0.01% |
2,000
| – | – |
|
105
Altimmune
ALT
$605M
| $383K | ﹤0.01% |
+34,000
| New | +$142K |
|
106
Hims & Hers Health
HIMS
$7.88B
| $374K | ﹤0.01% |
42,000
| – | – |
|
|
BPMC
107
DELISTED
Blueprint Medicines
BPMC
| $369K | ﹤0.01% |
4,000
| – | – |
|
|
APLS
108
DELISTED
Apellis Pharmaceuticals
APLS
| $359K | ﹤0.01% |
6,000
-188,053
| -97% | -$9.54M |
|
109
Axsome Therapeutics
AXSM
$10.9B
| $318K | ﹤0.01% |
4,000
-121,653
| -97% | -$8.13M |
|
110
Krystal Biotech
KRYS
$10.3B
| $248K | ﹤0.01% |
2,000
| – | – |
|
111
BridgeBio Pharma
BBIO
$15.9B
| $242K | ﹤0.01% |
+6,000
| New | +$180K |
|
112
Chemed
CHE
$7.07B
| $234K | ﹤0.01% |
400
| – | – |
|
|
FOLD
113
DELISTED
Amicus Therapeutics
FOLD
| $227K | ﹤0.01% |
16,000
| – | – |
|
|
ACLX
114
DELISTED
Arcellx
ACLX
| $222K | ﹤0.01% |
+4,000
| New | +$180K |
|
115
Bruker
BRKR
$9.07B
| $220K | ﹤0.01% |
+3,000
| New | +$192K |
|
116
Acadia Healthcare
ACHC
$2.59B
| $218K | ﹤0.01% |
+2,800
| New | +$207K |
|
117
Syndax Pharmaceuticals
SNDX
$1.75B
| $216K | ﹤0.01% |
+10,000
| New | +$154K |
|
118
Vaxcyte
PCVX
$9.32B
| $214K | ﹤0.01% |
+3,400
| New | +$177K |
|
119
Glaukos
GKOS
$10.9B
| $207K | ﹤0.01% |
+2,600
| New | +$177K |
|
120
MoonLake Immunotherapeutics
MLTX
$1.34B
| $205K | ﹤0.01% |
+3,400
| New | +$175K |
|
121
Integra LifeSciences
IART
$1.3B
| $200K | ﹤0.01% |
+4,600
| New | +$181K |
|
122
Encompass Health
EHC
$11.9B
| $200K | ﹤0.01% |
3,000
| – | – |
|
123
Sabra Healthcare REIT
SBRA
$5.21B
| $200K | ﹤0.01% |
+14,000
| New | +$199K |
|
|
LUNRW
124
DELISTED
Intuitive Machines, Inc. Warrants
LUNRW
| $181K | ﹤0.01% |
950,000
| – | – |
|
|
RCM
125
DELISTED
R1 RCM Inc. Common Stock
RCM
| $169K | ﹤0.01% |
16,000
+4,000
| +33% | +$45.4K |
|
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Thomas Steyer's Q4 2023 Portfolio in Review
As of Q4 2023, Thomas Steyer held 190 positions worth $21.9B, up 2% from $21.4B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Thomas Steyer withdrew a net $2.03B in Q4 2023, closing 32 positions and reducing 39 holdings. Its most notable exit was Activision Blizzard, an estimated $1.9B position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, down from 31% a quarter earlier, followed by Technology and Financials.
Against the trend, Thomas Steyer opened a new position in Pioneer Natural Resource Co. worth $702M.
- Thomas Steyer's largest Q4 2023 buy was Pioneer Natural Resource Co.: 3,120,000 shares worth $702M.
- Thomas Steyer added most to Nasdaq in Q4 2023, an estimated $341M increase.
- Thomas Steyer's biggest Q4 2023 reduction was AstraZeneca, cutting an estimated $145M.
- Thomas Steyer fully exited Activision Blizzard in Q4 2023, selling an estimated $1.9B.
- Thomas Steyer's ten largest holdings make up 52% of its $21.9B portfolio in Q4 2023.
- Thomas Steyer opened 27 new positions and closed 32 in Q4 2023.
- Thomas Steyer's portfolio value rose 2% quarter-over-quarter to $21.9B.
Based on Farallon Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.