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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
IONS icon
101
Ionis Pharmaceuticals
IONS
$9.93B
$380K ﹤0.01%
4,800
– –
LIVN icon
102
LivaNova
LIVN
$4.34B
$369K ﹤0.01%
6,000
– –
GMED icon
103
Globus Medical
GMED
$11.7B
$349K ﹤0.01%
4,000
– –
COR icon
104
Cencora
COR
$60.7B
$338K ﹤0.01%
1,000
– –
QURE icon
105
uniQure
QURE
$3.36B
$335K ﹤0.01%
14,000
-551,000
-98% -$21.3M
ONC
106
BeOne Medicines Ltd
ONC
$42.4B
$334K ﹤0.01%
1,100
– –
CGON icon
107
CG Oncology
CGON
$7.07B
$332K ﹤0.01%
8,000
– –
SRRK icon
108
Scholar Rock
SRRK
$6.88B
$308K ﹤0.01%
7,000
– –
IMVT icon
109
Immunovant
IMVT
$9.16B
$305K ﹤0.01%
12,000
– –
NUVL
110
DELISTED
Nuvalent
NUVL
$302K ﹤0.01%
3,000
– –
ASND icon
111
Ascendis Pharma A/S
ASND
$16.6B
$299K ﹤0.01%
1,400
– –
VCYT icon
112
Veracyte
VCYT
$3.4B
$295K ﹤0.01%
7,000
– –
GKOS icon
113
Glaukos
GKOS
$10.9B
$294K ﹤0.01%
2,600
– –
SLDPW icon
114
Solid Power Inc Warrant
SLDPW
$6.93M
$287K ﹤0.01%
405,316
– –
STOK icon
115
Stoke Therapeutics
STOK
$2.08B
$286K ﹤0.01%
+9,000
New +$271K
SBRA icon
116
Sabra Healthcare REIT
SBRA
$5.21B
$265K ﹤0.01%
14,000
– –
MMSI icon
117
Merit Medical Systems
MMSI
$5.42B
$264K ﹤0.01%
3,000
– –
GRFS
118
Grifois
GRFS
$5.44B
$262K ﹤0.01%
28,000
– –
ACLX
119
DELISTED
Arcellx
ACLX
$261K ﹤0.01%
4,000
– –
NUVB icon
120
Nuvation Bio
NUVB
$2.43B
$260K ﹤0.01%
+29,000
New +$180K
URGN icon
121
UroGen Pharma
URGN
$2.29B
$258K ﹤0.01%
11,000
– –
PACB icon
122
Pacific Biosciences
PACB
$420M
$252K ﹤0.01%
135,000
– –
GEHC icon
123
GE HealthCare
GEHC
$33.8B
$246K ﹤0.01%
3,000
– –
TWST icon
124
Twist Bioscience
TWST
$9.13B
$243K ﹤0.01%
7,650
– –
MIRM icon
125
Mirum Pharmaceuticals
MIRM
$5.87B
$237K ﹤0.01%
3,000
– –
3 4
5
6 7

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PAG
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ETC
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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.