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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
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$1.85B 8.85%
3,300,000
-850,000
-20% -$500M
HES
2
DELISTED
Hess
HES
$867M 4.16%
5,425,000
-1,020,000
-16% -$150M
MSFT icon
3
Microsoft
MSFT
$3.59T
$858M 4.12%
2,285,835
+652,688
+40% +$266M
EXEL icon
4
Exelixis
EXEL
$13.4B
$832M 3.99%
22,533,500
-906,000
-4% -$32.3M
DFS
5
DELISTED
Discover Financial Services
DFS
$816M 3.91%
4,780,000
+520,000
+12% +$95.1M
UNH icon
6
UnitedHealth
UNH
$350B
$785M 3.76%
1,497,900
+35,400
+2% +$18.1M
NTRA icon
7
Natera
NTRA
$47.9B
$643M 3.08%
4,547,809
+116,200
+3% +$18.7M
IQV icon
8
IQVIA
IQV
$42.8B
$602M 2.88%
3,411,851
+288,700
+9% +$56M
LNTH icon
9
Lantheus
LNTH
$6.53B
$588M 2.82%
6,023,227
+707,000
+13% +$66.1M
ARMK icon
10
Aramark
ARMK
$15.8B
$561M 2.69%
16,241,996
+4,831,656
+42% +$178M
DIS icon
11
Walt Disney
DIS
$186B
$542M 2.6%
5,496,223
+1,068,155
+24% +$115M
CRM icon
12
Salesforce
CRM
$171B
$528M 2.53%
1,967,110
+756,972
+63% +$235M
ADSK icon
13
Autodesk
ADSK
$53.6B
$523M 2.51%
1,997,400
+155,600
+8% +$44.3M
INTU icon
14
Intuit
INTU
$100B
$516M 2.47%
840,258
+86,500
+11% +$51.9M
TMO icon
15
Thermo Fisher Scientific
TMO
$233B
$515M 2.47%
1,035,856
-197,400
-16% -$107M
RVMD icon
16
Revolution Medicines
RVMD
$44.9B
$479M 2.3%
13,534,692
+286,000
+2% +$11.6M
IBB icon
17
PUT
iShares Biotechnology ETF
IBB
$10.7B
$460M 2.21%
3,600,000
– –
TRU icon
18
TransUnion
TRU
$16.2B
$449M 2.15%
5,413,206
+86,887
+2% +$7.94M
NYT icon
19
New York Times
NYT
$10.6B
$443M 2.12%
8,932,113
+1,556,000
+21% +$78.2M
ITCI
20
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$403M 1.93%
+3,055,000
New +$381M
BSX icon
21
Boston Scientific
BSX
$73B
$380M 1.82%
3,762,757
-1,260,200
-25% -$127M
AON icon
22
Aon
AON
$75.3B
$378M 1.81%
1,361,744
-470,989
-26% -$181M
MCK icon
23
McKesson
MCK
$100B
$372M 1.78%
552,500
-58,200
-10% -$36M
LBRDK
24
DELISTED
Liberty Broadband Class C
LBRDK
$364M 1.74%
4,274,445
+574,445
+16% +$46.2M
NDAQ icon
25
Nasdaq
NDAQ
$54.9B
$338M 1.62%
4,460,288
+462,269
+12% +$36.4M
1
2 3 4 5

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OSAM
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SA
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BPA
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CHP
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PAG
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ETC
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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.