Farallon Capital Management
Andrew Spokes · CIK 0000909661 · latest 13F for 2026-06-30 filed 2026-08-14
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Farallon Capital Management is an American multi-strategy investment firm headquartered in San Francisco. The firm manages capital for institutional and private investors, investing in public and private assets globally across a variety of strategies.
Strategy
Multi-strategy, including credit, long/short equity, merger arbitrage, risk arbitrage, and real estate.
Investment approach
Farallon employs a bottom-up fundamental research and analysis approach, seeking global investment opportunities across public and private assets. The firm maintains flexible investment parameters, allowing capital to shift among strategies and asset classes based on prevailing opportunities and risk-adjusted returns. Risk is managed through rigorous analysis, portfolio-level analytics, and hedging techniques.
History
Founded by Thomas Steyer in 1986, the firm initially focused on merger arbitrage. Over the decades, it expanded its strategies to include credit, real estate, and direct investments, and established a global presence with offices in cities including London, Singapore, Hong Kong, Tokyo, São Paulo, and New York. The firm underwent a leadership transition with the retirement of Thomas Steyer and the promotion of Andrew Spokes, followed by the appointment of Nicolas Giauque as Managing Partner in 2025.
Notable positions & campaigns
- Bank Central Asia2002 — Farallon bought control of the Indonesian financial institution for $531 million and sold its stake for a profit in 2006.
- Mills Corp2007 — Farallon purchased the real estate investment trust in partnership with Simon Property Group and other hedge funds.
- Toshiba — Farallon was one of the largest shareholders in the Japanese electronics company.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Thomas Steyer
- Founded
- 1986
- HQ
- San Francisco, U.S.
- Reported AUM
- $43.6bn (as of December 31, 2025)
- Website
- faralloncapital.com
Management
- Nicolas GiauqueManaging Partner
- Andrew J.M. SpokesPrincipal owner
Holdings heatmap
Latest 13F (2026-06-30): top 50 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | RVMD | $2.5B | 15.0% |
| 2 | — | $1.6B | 9.6% |
| 3 | BBIO | $800M | 4.7% |
| 4 | PTGX | $778M | 4.6% |
| 5 | EXEL | $733M | 4.3% |
| 6 | LQDA | $667M | 3.9% |
| 7 | AMZN | $628M | 3.7% |
| 8 | LNTH | $619M | 3.7% |
| 9 | NTRA | $602M | 3.6% |
| 10 | UNH | $528M | 3.1% |
| 11 | TMO | $526M | 3.1% |
| 12 | — | $506M | 3.0% |
| 13 | — | $459M | 2.7% |
| 14 | BSX | $449M | 2.7% |
| 15 | AVGO | $435M | 2.6% |
| 16 | MSFT | $415M | 2.4% |
| 17 | TNGX | $384M | 2.3% |
| 18 | KKR | $378M | 2.2% |
| 19 | SNPS | $370M | 2.2% |
| 20 | BEAM | $351M | 2.1% |
| 21 | — | $336M | 2.0% |
| 22 | GRAL | $284M | 1.7% |
| 23 | WAB | $241M | 1.4% |
| 24 | IMVT | $224M | 1.3% |
| 25 | TWST | $220M | 1.3% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| trimmed | MSFT | 5.2% | 2.4% |
| exited | SCHW | 2.2% | 0.0% |
| trimmed | — | 4.8% | 2.7% |
| exited | GOOG | 1.7% | 0.0% |
| trimmed | AMZN | 5.2% | 3.7% |
| exited | V | 1.5% | 0.0% |
| added | — | 1.6% | 3.0% |
| exited | DIS | 1.4% | 0.0% |
| exited | MA | 1.3% | 0.0% |
| exited | MCK | 1.2% | 0.0% |
| exited | — | 1.1% | 0.0% |
| added | TNGX | 1.1% | 2.3% |
| added | IMVT | 0.2% | 1.3% |
| trimmed | WAB | 2.4% | 1.4% |
| added | TWST | 0.4% | 1.3% |
| exited | TYRA | 0.8% | 0.0% |
| trimmed | AVGO | 3.3% | 2.6% |
| trimmed | SNPS | 2.9% | 2.2% |
| added | GRAL | 1.0% | 1.7% |
| added | BBIO | 4.1% | 4.7% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -6.4% | +0.4% | -6.8% | 75% |
| 2026-03-31 | +18.2% | +4.9% | +13.4% | 82% |
| 2025-12-31 | +10.2% | +7.9% | +2.3% | 82% |
| 2025-09-30 | -0.3% | +3.4% | -3.7% | 81% |
| 2025-06-30 | +7.2% | +3.7% | +3.5% | 81% |
| 2025-03-31 | +2.1% | +8.6% | -6.5% | 81% |
| 2024-12-31 | -0.9% | -2.5% | +1.6% | 81% |
| 2024-09-30 | +1.8% | +4.7% | -2.9% | 78% |
| 2024-06-30 | +7.8% | +6.2% | +1.6% | 80% |
| 2024-03-31 | +5.7% | +4.9% | +0.7% | 77% |
| 2023-12-31 | +6.0% | +5.6% | +0.3% | 83% |
| 2023-09-30 | +12.9% | +12.1% | +0.8% | 66% |
| 2023-06-30 | -1.7% | +1.9% | -3.6% | 77% |
| 2023-03-31 | +5.6% | +8.4% | -2.8% | 71% |
| 2022-12-31 | -1.2% | -0.5% | -0.6% | 78% |
| 2022-09-30 | +6.5% | +4.4% | +2.1% | 66% |
Filing dates
- 2026-08-1413F-HR for 2026-06-30 · $21.7B · 89 rows
- 2026-08-1413F-HR/A for 2026-03-31 · $1.5B · 1 rows
- 2026-08-1413F-HR/A for 2025-12-31 · $1.0B · 1 rows
- 2026-05-1513F-HR/A for 2025-12-31 · $884M · 2 rows
- 2026-05-1513F-HR for 2026-03-31 · $17.5B · 172 rows
- 2026-02-1713F-HR/A for 2025-09-30 · $24.4B · 144 rows
- 2026-02-1713F-HR/A for 2025-06-30 · $140M · 1 rows
- 2026-02-1713F-HR/A for 2025-03-31 · $274M · 1 rows
- 2026-02-1713F-HR/A for 2024-12-31 · $85M · 1 rows
- 2026-02-1713F-HR for 2025-12-31 · $21.2B · 151 rows
- 2025-11-1413F-HR/A for 2023-09-30 · $40M · 1 rows
- 2025-11-1413F-HR for 2025-09-30 · $24.4B · 144 rows
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