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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
+0.2%
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
$20.9B
AUM Growth
-$1.94B
Cap. Flow
-$1.04B
Cap. Flow %
-4.99%
Top 10 Hldgs %
40.27%
Holding
168
New
18
Increased
43
Reduced
28
Closed
22

Top Buys

Rank Stock Value
1
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$381M
2
MSFT icon
Microsoft
MSFT
+$266M
3
CRM icon
Salesforce
CRM
+$235M
4
K
Kellanova
K
+$186M
5
ARMK icon
Aramark
ARMK
+$178M

Top Sells

Rank Stock Value
1
ABNB icon
Airbnb
ABNB
+$319M
2
HCP
HashiCorp, Inc. Class A Common Stock
HCP
+$221M
3
AON icon
Aon
AON
+$181M
4
BMY icon
Bristol-Myers Squibb
BMY
+$180M
5
HES
Hess
HES
+$150M

Sector Composition

Rank Sector Weight
1 Healthcare 37.95%
2 Technology 14.96%
3 Financials 12.32%
4 Communication Services 7.9%
5 Industrials 5.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EW icon
151
Edwards Lifesciences
EW
$51.8B
– –
-3,000
Closed -$222K
GDS icon
152
GDS Holdings
GDS
$6.58B
– –
-1,531,133
Closed -$36.4M
GXO icon
153
GXO Logistics
GXO
$5.24B
– –
-513,400
Closed -$22.3M
HCA icon
154
HCA Healthcare
HCA
$92.9B
– –
-1,000
Closed -$300K
ICLR icon
155
Icon
ICLR
$13.3B
– –
-1,000
Closed -$210K
ICUI icon
156
ICU Medical
ICUI
$4.57B
– –
-1,400
Closed -$217K
MASI
157
DELISTED
Masimo
MASI
– –
-397,000
Closed -$65.6M
MRNA icon
158
PUT
Moderna
MRNA
$57.9B
– –
-2,620,800
Closed -$109M
MTAL
159
DELISTED
Metals Acquisition
MTAL
– –
-330,901
Closed -$3.51M
RSP icon
160
PUT
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
– –
-4,400,000
Closed -$771M
SPY icon
161
State Street SPDR S&P 500 ETF Trust
SPY
$809B
– –
-82,000
Closed -$48.2M
ALTR
162
DELISTED
Altair Engineering Inc
ALTR
– –
-282,000
Closed -$30.8M
EDR
163
DELISTED
Endeavor Group Holdings, Inc.
EDR
– –
-1,835,185
Closed -$57.4M
MTTR
164
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
– –
-5,069,100
Closed -$24M
HCP
165
DELISTED
HashiCorp, Inc. Class A Common Stock
HCP
– –
-6,453,000
Closed -$221M
GRND.WS
166
DELISTED
Grindr Inc. Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
GRND.WS
– –
-540,000
Closed -$3.65M
CITEW
167
DELISTED
Cartica Acquisition Corp Warrant
CITEW
– –
-175,000
Closed -$47.3K
3 4 5 6
7

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Thomas Steyer's Q1 2025 Portfolio in Review

As of Q1 2025, Thomas Steyer held 168 positions worth $20.9B, down 8.5% from $22.8B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Thomas Steyer withdrew a net $1.04B in Q1 2025, closing 22 positions and reducing 28 holdings. Its most notable exit was Airbnb, an estimated $319M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 38% of assets, up from 34% a quarter earlier, followed by Technology and Financials.

Against the trend, Thomas Steyer opened a new position in Intra-Cellular Therapies Inc. worth $403M.

  • Thomas Steyer's largest Q1 2025 buy was Intra-Cellular Therapies Inc.: 3,055,000 shares worth $403M.
  • Thomas Steyer added most to Microsoft in Q1 2025, an estimated $266M increase.
  • Thomas Steyer's biggest Q1 2025 reduction was Aon, cutting an estimated $181M.
  • Thomas Steyer fully exited Airbnb in Q1 2025, selling an estimated $319M.
  • Thomas Steyer's ten largest holdings make up 40% of its $20.9B portfolio in Q1 2025.
  • Thomas Steyer opened 18 new positions and closed 22 in Q1 2025.
  • Thomas Steyer's portfolio value fell 8.5% quarter-over-quarter to $20.9B.

Based on Farallon Capital Management's 13F filing for Q1 2025, filed 15 May 2025.