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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
ALKS icon
101
Alkermes
ALKS
$8.11B
$735K ﹤0.01%
20,800
– –
ALVO icon
102
Alvotech
ALVO
$1.5B
$685K ﹤0.01%
199,675
– –
AXSM icon
103
Axsome Therapeutics
AXSM
$10.9B
$676K ﹤0.01%
4,000
– –
COGT icon
104
Cogent Biosciences
COGT
$6.37B
$654K ﹤0.01%
17,000
– –
ANNA
105
AleAnna Inc
ANNA
$116M
$650K ﹤0.01%
78,400
– –
ARQT icon
106
Arcutis Biotherapeutics
ARQT
$3.15B
$613K ﹤0.01%
26,000
– –
CELC icon
107
Celcuity
CELC
$4.58B
$457K ﹤0.01%
4,000
– –
LIVN icon
108
LivaNova
LIVN
$4.34B
$381K ﹤0.01%
6,000
– –
TERN
109
DELISTED
Terns Pharmaceuticals
TERN
$369K ﹤0.01%
7,000
-635,000
-99% -$26.1M
IONS icon
110
Ionis Pharmaceuticals
IONS
$9.93B
$360K ﹤0.01%
4,800
– –
TVTX icon
111
Travere Therapeutics
TVTX
$6.19B
$357K ﹤0.01%
12,000
– –
GMED icon
112
Globus Medical
GMED
$11.7B
$345K ﹤0.01%
4,000
– –
SRRK icon
113
Scholar Rock
SRRK
$6.88B
$344K ﹤0.01%
7,000
– –
ONC
114
BeOne Medicines Ltd
ONC
$42.4B
$327K ﹤0.01%
1,100
– –
WGS icon
115
GeneDx Holdings
WGS
$2.6B
$321K ﹤0.01%
5,000
-65,000
-93% -$5.93M
COR icon
116
Cencora
COR
$60.7B
$314K ﹤0.01%
1,000
– –
NUVL
117
DELISTED
Nuvalent
NUVL
$307K ﹤0.01%
3,000
– –
PGNY icon
118
Progyny
PGNY
$1.97B
$306K ﹤0.01%
18,000
– –
STOK icon
119
Stoke Therapeutics
STOK
$2.08B
$293K ﹤0.01%
9,000
– –
ERAS icon
120
Erasca
ERAS
$6.17B
$291K ﹤0.01%
+18,000
New +$213K
EHC icon
121
Encompass Health
EHC
$11.9B
$290K ﹤0.01%
3,000
-231,500
-99% -$23.7M
NKTR icon
122
Nektar Therapeutics
NKTR
$2.53B
$288K ﹤0.01%
+4,000
New +$228K
GKOS icon
123
Glaukos
GKOS
$10.9B
$280K ﹤0.01%
2,600
– –
MIRM icon
124
Mirum Pharmaceuticals
MIRM
$5.87B
$277K ﹤0.01%
3,000
– –
SBRA icon
125
Sabra Healthcare REIT
SBRA
$5.21B
$269K ﹤0.01%
14,000
– –
3 4
5
6 7

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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.