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 |
UnitedHealth
UNH
|
+$418M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$235M |
| 3 |
Exelixis
EXEL
|
+$219M |
| 4 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$191M |
| 5 |
SJR
Shaw Communications Inc.
SJR
|
+$183M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AbbVie
ABBV
|
+$152M |
| 2 |
Clarivate
CLVT
|
+$127M |
| 3 |
SGFY
Signify Health, Inc.
SGFY
|
+$113M |
| 4 |
LHCG
LHC Group LLC
LHCG
|
+$111M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$87M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 33.33% |
| 2 | Technology | 18.46% |
| 3 | Financials | 12.48% |
| 4 | Industrials | 7.09% |
| 5 | Communication Services | 7.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $1.82B | 9.95% |
4,450,000
+650,000
| +17% | +$259M |
|
2
Salesforce
CRM
$171B
| $700M | 3.82% |
3,501,838
-279,000
| -7% | -$47.1M |
|
3
IQVIA
IQV
$42.8B
| $638M | 3.48% |
3,208,112
-50,000
| -2% | -$10.7M |
|
4
Thermo Fisher Scientific
TMO
$233B
| $605M | 3.3% |
1,049,059
-112,900
| -10% | -$63.6M |
|
|
HZNP
5
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $592M | 3.23% |
5,419,823
+1,724,900
| +47% | +$191M |
|
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $567M | 3.1% |
5,456,140
+2,430,000
| +80% | +$235M |
|
7
TransUnion
TRU
$16.2B
| $535M | 2.92% |
8,611,593
-252,302
| -3% | -$16.5M |
|
8
Microsoft
MSFT
$3.59T
| $481M | 2.63% |
1,667,478
-21,000
| -1% | -$5.36M |
|
|
SJR
9
DELISTED
Shaw Communications Inc.
SJR
| $473M | 2.58% |
15,800,000
+6,315,000
| +67% | +$183M |
|
|
10
Exelixis
EXEL
$13.4B
| $455M | 2.49% |
23,466,000
+12,597,851
| +116% | +$219M |
|
|
11
UnitedHealth
UNH
$350B
| $409M | 2.24% |
+866,000
| New | +$418M |
|
12
AstraZeneca
AZN
$257B
| $407M | 2.22% |
2,933,777
-4,454
| -0.2% | -$599K |
|
13
Intuit
INTU
$100B
| $406M | 2.22% |
911,000
+8,900
| +1% | +$3.65M |
|
14
Aramark
ARMK
$15.8B
| $402M | 2.2% |
15,564,469
+566,465
| +4% | +$16.1M |
|
15
S&P Global
SPGI
$127B
| $397M | 2.17% |
1,151,900
+74,800
| +7% | +$26.3M |
|
16
Boston Scientific
BSX
$73B
| $385M | 2.11% |
7,705,257
-1,555,000
| -17% | -$73.3M |
|
17
Full Truck Alliance
YMM
$9.1B
| $333M | 1.82% |
43,805,238
+365,495
| +0.8% | +$2.9M |
|
18
Dynatrace
DT
$14.2B
| $329M | 1.8% |
7,788,269
-130,000
| -2% | -$5.26M |
|
19
ServiceNow
NOW
$133B
| $325M | 1.78% |
3,498,250
+155,000
| +5% | +$13.5M |
|
20
Elevance Health
ELV
$86.9B
| $310M | 1.69% |
673,630
+39,330
| +6% | +$18.7M |
|
21
Centene
CNC
$32.1B
| $302M | 1.65% |
4,774,775
+183,234
| +4% | +$13M |
|
|
ATVI
22
DELISTED
Activision Blizzard
ATVI
| $301M | 1.65% |
3,520,000
-1,120,000
| -24% | -$87M |
|
23
Howmet Aerospace
HWM
$108B
| $294M | 1.61% |
6,941,527
-1,165,826
| -14% | -$47.8M |
|
24
Sherwin-Williams
SHW
$84.1B
| $294M | 1.6% |
1,306,792
-79,000
| -6% | -$18.1M |
|
25
Wabtec
WAB
$50.3B
| $289M | 1.58% |
2,857,930
+120,000
| +4% | +$12.3M |
|
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Thomas Steyer's Q1 2023 Portfolio in Review
As of Q1 2023, Thomas Steyer held 256 positions worth $18.3B, up 8.2% from $16.9B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Thomas Steyer withdrew a net $639M in Q1 2023, closing 63 positions and reducing 47 holdings. Its most notable exit was AbbVie, an estimated $152M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 33% of assets, up from 32% a quarter earlier, followed by Technology and Financials.
Against the trend, Thomas Steyer opened a new position in UnitedHealth worth $409M.
- Thomas Steyer's largest Q1 2023 buy was UnitedHealth: 866,000 shares worth $409M.
- Thomas Steyer added most to Alphabet (Google) Class C in Q1 2023, an estimated $235M increase.
- Thomas Steyer's biggest Q1 2023 reduction was Activision Blizzard, cutting an estimated $87M.
- Thomas Steyer fully exited AbbVie in Q1 2023, selling an estimated $152M.
- Thomas Steyer's ten largest holdings make up 38% of its $18.3B portfolio in Q1 2023.
- Thomas Steyer opened 14 new positions and closed 63 in Q1 2023.
- Thomas Steyer's portfolio value rose 8.2% quarter-over-quarter to $18.3B.
Based on Farallon Capital Management's 13F filing for Q1 2023, filed 15 May 2023.