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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
PACB icon
151
Pacific Biosciences
PACB
$420M
$178K ﹤0.01%
135,000
– –
SLS icon
152
SELLAS Life Sciences
SLS
$3.12B
$169K ﹤0.01%
+40,000
New +$179K
ADPT icon
153
Adaptive Biotechnologies
ADPT
$4.15B
$153K ﹤0.01%
11,000
– –
OCUL icon
154
Ocular Therapeutix
OCUL
$2.43B
$152K ﹤0.01%
18,000
– –
NEO icon
155
NeoGenomics
NEO
$2.18B
$141K ﹤0.01%
19,000
– –
ARDX icon
156
Ardelyx
ARDX
$1B
$138K ﹤0.01%
23,000
– –
OSCR icon
157
Oscar Health
OSCR
$9.89B
$126K ﹤0.01%
11,000
-253,000
-96% -$3.56M
NUVB icon
158
Nuvation Bio
NUVB
$2.43B
$124K ﹤0.01%
29,000
– –
IOVA icon
159
Iovance Biotherapeutics
IOVA
$3.76B
$91.3K ﹤0.01%
26,000
– –
SLDPW icon
160
Solid Power Inc Warrant
SLDPW
$6.93M
$88.4K ﹤0.01%
405,316
– –
ALT icon
161
Altimmune
ALT
$605M
$85K ﹤0.01%
27,600
– –
CCCC icon
162
C4 Therapeutics
CCCC
$492M
$73.6K ﹤0.01%
28,000
– –
TVRD
163
Tvardi Therapeutics
TVRD
$24.8M
$68.2K ﹤0.01%
21,438
-21,787
-50% -$85.4K
GERN icon
164
Geron
GERN
$977M
$64.1K ﹤0.01%
43,000
– –
BGLWW
165
Blue Gold Ltd Warrant
BGLWW
$345K
$60K ﹤0.01%
300,000
– –
RANI icon
166
Rani Therapeutics
RANI
$102M
$57.3K ﹤0.01%
78,000
– –
IRWD icon
167
Ironwood Pharmaceuticals
IRWD
$709M
$45.6K ﹤0.01%
13,000
– –
EVH icon
168
Evolent Health
EVH
$536M
$31.9K ﹤0.01%
14,000
– –
CGC
169
Canopy Growth
CGC
$472M
$28.5K ﹤0.01%
30,000
– –
NVNIW
170
Nvni Group Limited Warrants
NVNIW
$17.8K ﹤0.01%
375,000
– –
BYND icon
171
Beyond Meat
BYND
$254M
$13.3K ﹤0.01%
633
– –
ACLX
172
DELISTED
Arcellx
ACLX
– –
-4,000
Closed -$261K
ALNY icon
173
PUT
Alnylam Pharmaceuticals
ALNY
$31.6B
– –
-100,000
Closed -$39.8M
ASND icon
174
Ascendis Pharma A/S
ASND
$16.6B
– –
-1,400
Closed -$299K
CBRE icon
175
CBRE Group
CBRE
$44B
– –
-983,771
Closed -$158M
5 6
7
8 9

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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.