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 |
PXD
Pioneer Natural Resource Co.
PXD
|
+$731M |
| 2 |
HES
Hess
HES
|
+$436M |
| 3 |
Nasdaq
NDAQ
|
+$341M |
| 4 |
SPLK
Splunk Inc
SPLK
|
+$157M |
| 5 |
United Therapeutics
UTHR
|
+$110M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATVI
Activision Blizzard
ATVI
|
+$1.9B |
| 2 |
VMW
VMware, Inc
VMW
|
+$915M |
| 3 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$770M |
| 4 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$482M |
| 5 |
Aon
AON
|
+$216M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.49% |
| 2 | Technology | 11.1% |
| 3 | Financials | 9.67% |
| 4 | Industrials | 6.16% |
| 5 | Communication Services | 5.57% |
| 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
| $5.87B | 26.83% |
12,340,000
+3,640,000
| +42% | +$1.62B |
|
|
PXD
2
DELISTED
Pioneer Natural Resource Co.
PXD
| $702M | 3.21% |
+3,120,000
| New | +$731M |
|
3
IQVIA
IQV
$42.8B
| $685M | 3.13% |
2,961,032
+194,700
| +7% | +$40M |
|
4
Exelixis
EXEL
$13.4B
| $639M | 2.92% |
26,634,500
+774,500
| +3% | +$16.8M |
|
5
Thermo Fisher Scientific
TMO
$233B
| $639M | 2.92% |
1,203,131
+155,600
| +15% | +$75.3M |
|
6
UnitedHealth
UNH
$350B
| $633M | 2.9% |
1,202,600
-144,100
| -11% | -$76.9M |
|
7
TransUnion
TRU
$16.2B
| $627M | 2.87% |
9,122,956
-110,300
| -1% | -$6.72M |
|
8
Salesforce
CRM
$171B
| $507M | 2.32% |
1,925,738
-599,900
| -24% | -$136M |
|
9
Microsoft
MSFT
$3.59T
| $503M | 2.3% |
1,338,578
-10,600
| -0.8% | -$3.77M |
|
10
Wabtec
WAB
$50.3B
| $500M | 2.29% |
3,938,308
+682,261
| +21% | +$77M |
|
11
Aramark
ARMK
$15.8B
| $475M | 2.17% |
16,899,254
+90,617
| +0.5% | +$2.46M |
|
12
New York Times
NYT
$10.6B
| $464M | 2.12% |
9,476,791
+1,512,000
| +19% | +$66.7M |
|
13
Alphabet (Google) Class C
GOOG
$4.18T
| $442M | 2.02% |
3,138,540
-418,600
| -12% | -$56.8M |
|
|
HES
14
DELISTED
Hess
HES
| $429M | 1.96% |
+2,975,000
| New | +$436M |
|
15
CBRE Group
CBRE
$44B
| $395M | 1.81% |
4,246,000
-274,388
| -6% | -$21.3M |
|
16
S&P Global
SPGI
$127B
| $389M | 1.78% |
882,595
-116,800
| -12% | -$46.1M |
|
|
17
Nasdaq
NDAQ
$54.9B
| $382M | 1.75% |
6,570,500
+6,468,000
| +6,310% | +$341M |
|
18
Boston Scientific
BSX
$73B
| $336M | 1.54% |
5,820,257
+781,000
| +15% | +$41.7M |
|
19
Intuit
INTU
$100B
| $333M | 1.52% |
533,000
-23,100
| -4% | -$12.7M |
|
20
Charter Communications
CHTR
$17.9B
| $311M | 1.42% |
799,141
-312,200
| -28% | -$127M |
|
21
Centene
CNC
$32.1B
| $307M | 1.4% |
4,132,075
-313,000
| -7% | -$22.6M |
|
22
ServiceNow
NOW
$133B
| $298M | 1.36% |
2,106,250
-281,500
| -12% | -$35.5M |
|
23
Analog Devices
ADI
$182B
| $296M | 1.35% |
1,489,100
-452,900
| -23% | -$80.9M |
|
24
CoStar Group
CSGP
$13.1B
| $273M | 1.25% |
3,121,356
+334,500
| +12% | +$27.1M |
|
25
Full Truck Alliance
YMM
$9.1B
| $268M | 1.22% |
38,190,495
| – | – |
|
Similar funds
Thomas Steyer's Q4 2023 Portfolio in Review
As of Q4 2023, Thomas Steyer held 190 positions worth $21.9B, up 2% from $21.4B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Thomas Steyer withdrew a net $2.03B in Q4 2023, closing 32 positions and reducing 39 holdings. Its most notable exit was Activision Blizzard, an estimated $1.9B position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, down from 31% a quarter earlier, followed by Technology and Financials.
Against the trend, Thomas Steyer opened a new position in Pioneer Natural Resource Co. worth $702M.
- Thomas Steyer's largest Q4 2023 buy was Pioneer Natural Resource Co.: 3,120,000 shares worth $702M.
- Thomas Steyer added most to Nasdaq in Q4 2023, an estimated $341M increase.
- Thomas Steyer's biggest Q4 2023 reduction was AstraZeneca, cutting an estimated $145M.
- Thomas Steyer fully exited Activision Blizzard in Q4 2023, selling an estimated $1.9B.
- Thomas Steyer's ten largest holdings make up 52% of its $21.9B portfolio in Q4 2023.
- Thomas Steyer opened 27 new positions and closed 32 in Q4 2023.
- Thomas Steyer's portfolio value rose 2% quarter-over-quarter to $21.9B.
Based on Farallon Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.