WhaleCreep

Farallon Capital Management, L.L.C. 13F holdings, Q3 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-09-30, filed 2026-02-17

Farallon Capital Management, L.L.C. disclosed 139 US equity positions worth $17.7bn in its Q3 2025 13F filing. Its largest position is MSFT at 5.6% of the reported book, followed by AON and EXEL. Versus Q2 2025 it opened 21 new positions, added to 32, reduced 32 and exited 25.

$17.7bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
139
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.6%
Largest position
The largest single position as a share of the reported equity book.
40.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
37
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
113
Quarters on file since Q1 1998
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2025: 21 new, 32 added, 32 reduced, 25 exited

50 of 139
MSFT MICROSOFT CORPTechnology5.6%$991m1.91m+9.5%added
AON AON PLCFinancial Services4.6%$812m2.28m+15%added
EXEL EXELIXIS INCHealthcare4.6%$805m19.50m+22%added
AMZN AMAZON COM INCConsumer Cyclical4.3%$770m3.51m+16%added
NTRA NATERA INCHealthcare3.9%$685m4.25m−12%reduced
RVMD REVOLUTION MEDICINES INCHealthcare3.9%$683m14.63m+2.1%added
UNH UNITEDHEALTH GROUP INCHealthcare3.7%$651m1.89m+17%added
TMO THERMO FISHER SCIENTIFIC INCHealthcare3.4%$610m1.26m−9.0%reduced
HIMS HIMS & HERS HEALTH INCHealthcare3.4%$610m10.75m+31%added
DIS DISNEY WALT COCommunication Services3.4%$595m5.20m+6.7%added
CRM SALESFORCE INCTechnology3.3%$584m2.46m+17%added
ADSK AUTODESK INCTechnology3.0%$528m1.66m−4.7%reduced
BSX BOSTON SCIENTIFIC CORPHealthcare2.6%$463m4.75m+19%added
IBIT ISHARES BITCOIN TRUST ETF–2.6%$455m6.99m−0.4%held
WAB WABTECIndustrials2.5%$442m2.21m+69%added
BBIO BRIDGEBIO PHARMA INCHealthcare2.4%$425m8.19m+3.7%added
PTGX PROTAGONIST THERAPEUTICS INCHealthcare2.3%$412m6.20m+0.4%held
TRU TRANSUNIONFinancial Services2.2%$396m4.73m−12%reduced
ARMK ARAMARKIndustrials2.0%$345m9.00m−30%reduced
INTU INTUITTechnology1.9%$333m488,088−9.1%reduced
KEL KELLANOVA–1.8%$323m3.94m+124%added
NDAQ NASDAQ INCFinancial Services1.8%$320m3.62m−11%reduced
ADI ANALOG DEVICES INCTechnology1.8%$319m1.30m+2.1%added
SCHW SCHWAB CHARLES CORPFinancial Services1.8%$310m3.25m−18%reduced
NYT NEW YORK TIMES COCommunication Services1.6%$286m4.99m−11%reduced
GOOG ALPHABET INCCommunication Services1.5%$273m1.12m−36%reduced
CBRE CBRE GROUP INCReal Estate1.4%$255m1.62m−24%reduced
MCK MCKESSON CORPHealthcare1.4%$253m327,100+4.0%added
BEAM BEAM THERAPEUTICS INCHealthcare1.4%$244m10.06m+0.5%held
CRNXGBP CRINETICS PHARMACEUTICALS IN–1.4%$240m5.77m+24%added
ETHA ISHARES ETHEREUM TR–1.3%$235m7.45m–new
AGIO AGIOS PHARMACEUTICALS INCHealthcare1.3%$232m5.78m+0.2%held
V VISA INCFinancial Services1.2%$205m599,810+94%added
LQDA LIQUIDIA CORPORATIONHealthcare1.1%$195m8.57m+102%added
NSC NORFOLK SOUTHERN CORPIndustrials1.0%$185m615,000–new
LNTH LANTHEUS HLDGS INCHealthcare1.0%$178m3.48m−48%reduced
IQV IQVIA HLDGS INCHealthcare1.0%$178m938,551−76%reduced
WWD WOODWARD INCIndustrials0.9%$157m621,973−32%reduced
MA MASTERCARD INCFinancial Services0.7%$122m213,771+41%added
CNTA CENTESSA PHARMACEUTICALS PLC–0.6%$105m4.33m−4.4%reduced
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare0.6%$101m5.00m–new
TNGX TANGO THERAPEUTICS INCHealthcare0.5%$90.4m10.76m+17%added
BBNX BETA BIONICS INCHealthcare0.5%$85.7m4.31m+2.6%added
THC TENET HEALTHCARE CORPHealthcare0.5%$84.1m414,000−22%reduced
GRAL GRAIL INCHealthcare0.5%$79.8m1.35m+169%added
EHC ENCOMPASS HEALTH CORPHealthcare0.4%$72.5m571,000−19%reduced
OSCR OSCAR HEALTH INCHealthcare0.4%$68.9m3.64m+147%added
ABVX ABIVAX SAHealthcare0.4%$68.3m805,000–new
MARA MARA HOLDINGS INCFinancial Services0.4%$66.8m3.66m+338%added
MLYS MINERALYS THERAPEUTICS INCHealthcare0.4%$63.4m1.67m–new

Exited since Q2 2025

25 rows
SPY SPDR S&P 500 ETF Trust15.5%$3.4bn
HES HESS CORP3.7%$804m
8L8C LIBERTY BROADBAND CORP1.9%$421m
AKX ANSYS INC1.6%$350m
VRNA VERONA PHARMA PLC0.8%$171m
AZEK AZEK CO INC0.8%$171m
APY1EUR CHAMPIONX CORPORATION0.5%$105m
AMED AMEDISYS INC0.3%$56.6m
JD.COM INC no ticker0.2%$41.8m
VERVE THERAPEUTICS INC no ticker0.2%$40.6m
ABT ABBOTT LABORATORIES0.08%$18.5m
YMM FULL TRUCK ALLIANCE CO LTD0.08%$18.3m
0VVB PARAMOUNT GLOBAL0.08%$17.4m
LTM LATAM AIRLINES GROUP SA0.06%$12.9m
HELIX ACQUISITION CORP II no ticker0.03%$6.4m
LBRDAEUR LIBERTY BROADBAND CORP0.03%$5.7m
VYGR VOYAGER THERAPEUTICS INC0.01%$2.2m
JANX JANUX THERAPEUTICS INC0.01%$1.1m
SG7 SAGE THERAPEUTICS INC0.0%$390k
UTHR UNITED THERAPEUTICS CORP DEL0.0%$287k
SWTXUSD SPRINGWORKS THERAPEUTICS INC0.0%$235k
AKROEUR AKERO THERAPEUTICS INC0.0%$213k
BRKR BRUKER CORP0.0%$206k
THIRD HARMONIC BIO INC no ticker0.0%$83.4k
BDSX BIODESIX INC0.0%$36.1k

Sector mix

  • Healthcare43.1%
  • Technology15.9%
  • Financial Services12.6%
  • Unclassified9.2%
  • Communication Services6.9%
  • Industrials6.4%
  • Consumer Cyclical4.3%
  • Real Estate1.4%
  • Consumer Defensive0.2%

Book over time

Every quarter on file (113)
QuarterPositionsEquity book
Q2 202686$17.1bn
Q1 2026170$16.9bn
Q4 2025148$19.2bn
Q3 2025139$17.7bn
Q2 2025143$21.9bn
Q1 2025144$18.5bn
Q4 2024146$19.0bn
Q3 2024160$18.2bn
Q2 2024162$16.9bn
Q1 2024172$17.0bn
Q4 2023157$16.0bn
Q3 2023163$17.7bn
Q2 2023171$16.7bn
Q1 2023192$16.5bn
Q4 2022242$15.5bn
Q3 2022309$16.3bn
Q2 2022313$17.0bn
Q1 2022319$18.1bn
Q4 2021298$17.7bn
Q3 2021298$18.6bn
Q2 2021295$20.7bn
Q1 2021235$19.2bn
Q4 2020134$16.1bn
Q3 2020120$14.1bn
Q2 2020117$12.4bn
Q1 2020100$10.9bn
Q4 2019112$13.0bn
Q3 201997$12.2bn
Q2 2019103$14.3bn
Q1 201993$12.1bn
Q4 201894$11.4bn
Q3 2018101$14.2bn
Q2 201894$13.6bn
Q1 201884$12.0bn
Q4 201779$10.0bn
Q3 201783$9.6bn
Q2 201779$8.8bn
Q1 201769$8.1bn
Q4 201668$6.6bn
Q3 201666$5.8bn
Q2 201661$5.3bn
Q1 201670$7.5bn
Q4 201562$8.2bn
Q3 201579$6.3bn
Q2 201594$7.4bn
Q1 201592$6.8bn
Q4 201482$6.9bn
Q3 201481$6.0bn
Q2 201493$6.6bn
Q1 201486$5.0bn
Q4 201377$4.7bn
Q3 201376$4.8bn
Q2 201380$5.1bn
Q1 201352$3.5bn
Q4 201258$3.2bn
Q3 201246$2.6bn
Q2 201249$2.9bn
Q1 201250$3.6bn
Q4 201148$3.4bn
Q3 201153$3.0bn
Q2 201149$2.7bn
Q1 201151$2.7bn
Q4 201044$2.0bn
Q3 201044$1.9bn
Q2 201042$1.6bn
Q1 201026$1.1bn
Q4 200936$1.7bn
Q3 200935$1.2bn
Q2 200928$858m
Q1 200917$413m
Q4 200818$805m
Q3 200872$3.2bn
Q2 200873$5.0bn
Q1 2008125$5.7bn
Q4 2007138$7.6bn
Q3 2007136$7.1bn
Q2 2007226$9.9bn
Q1 2007120$9.1bn
Q4 2006108$7.7bn
Q3 2006110$6.6bn
Q2 200693$5.7bn
Q1 200683$5.4bn
Q4 200577$3.5bn
Q3 200570$2.8bn
Q2 200574$2.9bn
Q1 200584$2.8bn
Q4 2004129$4.5bn
Q3 2004114$4.9bn
Q2 2004117$4.3bn
Q1 2004121$4.1bn
Q4 2003129$3.9bn
Q3 2003115$3.0bn
Q2 2003105$2.2bn
Q1 2003105$2.5bn
Q4 2002120$2.4bn
Q3 2002131$2.3bn
Q2 2002140$2.1bn
Q1 2002148$2.2bn
Q4 2001117$1.9bn
Q3 2001112$2.3bn
Q2 2001119$2.3bn
Q1 2001124$2.7bn
Q4 2000117$2.8bn
Q3 2000151$3.8bn
Q2 2000150$3.5bn
Q1 2000146$2.9bn
Q4 1999129$2.7bn
Q3 1999141$2.8bn
Q2 1999125$2.2bn
Q1 1999102$2.0bn
Q3 199815$563m
Q2 199831$842m
Q1 199837$892m

Where Farallon Capital Management, L.L.C. was early

122 rows
KFY Korn/Ferry InternationalQ1 19991 of 890.07%1.4%21Exited by Q2 2004+22%
MCK MCKESSON CORPQ2 19991 of 1701.2%2.0%10Exited by Q2 2026+2589%
NWL Newell Rubbermaid IncQ2 19991 of 1561.1%1.1%3Exited by Q1 2000−37%
L LOEWS CORPQ2 19992 of 930.4%2.7%13Exited by Q3 2007+287%
INTC Intel CorpQ3 19991 of 2801.5%1.5%7Exited by Q2 2001−29%
MSFT MICROSOFT CORPQ3 199912 of 3740.1%5.6%54Held at last filing, Q2 2026+724%
JNJ JOHNSON & JOHNSONQ4 19991 of 1690.5%3.7%10Held at last filing, Q2 2026+445%
WM WASTE MGMT INC DELQ4 19993 of 1400.3%1.7%27Exited by Q3 2006+109%
VRSN VERISIGN INCQ1 20007 of 1420.5%1.1%5Exited by Q4 2008−83%
TEO Telecom Argentina STET-FRAN SPONQ2 20001 of 491.1%1.1%10Exited by Q4 2002−97%
PFE PFIZER INCQ3 20004 of 2080.6%6.8%8Exited by Q3 2014−34%
MLM Martin Marietta MaterialsQ4 20001 of 1840.4%1.6%8Exited by Q4 2002−23%
AVGO BROADCOM INCQ4 200021 of 3230.1%9.2%13Held at last filing, Q2 2026–
FITB Fifth Third BancorpQ1 20011 of 1172.4%2.4%5Exited by Q2 2002+26%
PCG PG&E CORPQ1 20011 of 2090.3%3.3%29Exited by Q3 2024+47%
SRE Sempra EnergyQ1 20011 of 1190.5%1.2%9Exited by Q2 2003+7.2%
USB U S BancorpQ1 20012 of 1623.3%3.3%4Exited by Q1 2002−9.8%
CNA CNA Financial CorpQ2 20011 of 780.4%1.8%6Exited by Q4 2002−37%
CVX CHEVRON CORP NEWQ3 20011 of 19714.4%14.4%11Exited by Q1 2012+151%
JLL JONES LANG LASALLE INCQ1 20022 of 1330.5%6.7%14Exited by Q1 2011+279%
WAT WATERS CORPQ2 20021 of 1371.6%1.8%9Exited by Q4 2006+70%
ORCL ORACLE CORPQ2 20027 of 2560.4%7.9%33Exited by Q3 2014+328%
DRI DARDEN RESTAURANTS INCQ4 20021 of 1410.4%1.2%7Exited by Q3 2007+115%
WMB WILLIAMS COS INC DELQ2 20033 of 2071.0%4.9%24Exited by Q3 2015+791%
AMXN AMERICA MOVIL SAB DE CV SPONQ4 20035 of 600.2%6.6%16Exited by Q4 2009+381%
DIS DISNEY WALT COQ1 20042 of 2531.8%3.7%18Exited by Q2 2026+291%
FCX FREEPORT-MCMORAN COPPER & GOQ1 20042 of 2230.5%1.4%13Exited by Q3 2013+41%
ABR ARBOR RLTY TR INCQ2 20041 of 800.2%1.2%11Exited by Q1 2007+51%
BAC Bank of AmericaQ2 20047 of 2328.7%8.7%3Exited by Q1 2005+11%
SNDK SANDISK CORPQ2 200416 of 2330.3%6.1%3Exited by Q2 2016–
TV GRUPO TELEVISA SA DE CV SPQ3 20041 of 790.5%3.6%17Exited by Q4 2008+66%
AZO AUTOZONE INCQ3 20044 of 1650.1%2.8%5Exited by Q3 2013+448%
EXEL EXELIXIS INCQ4 20042 of 1360.2%4.6%39Held at last filing, Q2 2026+473%
STT STATE STR CORPQ4 20045 of 1390.8%5.2%28Exited by Q4 2015+37%
BBY BEST BUY INCQ1 20056 of 1331.0%1.5%3Exited by Q4 2005+21%
RCI ROGERS COMMUNICATIONS INCQ3 20053 of 851.5%1.7%8Exited by Q1 2008+129%
IWM ISHARES TR RUSSELL 2000Q3 20054 of 23318.4%21.7%14Exited by Q4 2009−9.3%
CRL CHARLES RIV LABS INTL INCQ4 20052 of 1580.3%1.3%9Exited by Q1 2024+458%
IBB ISHARES TR NASDQ BIO INDXQ1 20061 of 1201.4%1.7%9Exited by Q3 2008−6.7%
FIS FIDELITY NATL INFORMATION SVQ1 20062 of 2250.7%12.8%47Exited by Q4 2021+200%
IYR ISHARES TR DJ US REAL ESTQ1 20062 of 980.4%1.8%5Exited by Q2 2007+16%
BSX BOSTON SCIENTIFIC CORPQ1 20063 of 1930.6%4.0%32Held at last filing, Q2 2026+85%
EEM ISHARES TR MSCI EMERG MKTQ2 20062 of 1340.2%3.5%10Exited by Q4 2008+9.2%
TGT TARGET CORPQ2 20065 of 1912.7%6.5%13Exited by Q3 2012+19%
QCOM QUALCOMM INCQ2 20068 of 2460.5%4.6%19Exited by Q2 2018+38%
MA MASTERCARD INCORPORATEDQ3 20062 of 2631.6%23.1%32Exited by Q2 2026+7002%
SHW SHERWIN WILLIAMS COQ3 20062 of 1920.7%7.4%36Exited by Q4 2024+1953%
AMG AFFILIATED MANAGERS GROUPQ3 20063 of 1080.0%1.6%4Exited by Q4 2015+71%
SCHW SCHWAB CHARLES CORPQ1 20072 of 2213.0%6.3%27Exited by Q2 2026+414%
CMCSA COMCAST CORP NEWQ1 20073 of 2191.4%4.8%15Exited by Q4 2017+197%

Concentration and tenure

10.3%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
47.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters