SEC 13F Intelligence

Managers / Q3 2025 · view latest →

FARALLON CAPITAL MANAGEMENT, L.L.C.

CIK 0000909661 · ONE MARITIME PLAZA, SUITE 2100, SAN FRANCISCO, CA, 94111 · (415)421-2132

Reported Value
$24.4B
Q3 2025
Positions
144
Filings on Record
130
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Farallon Capital Management, L.L.C. reported $24.4B in U.S.-listed holdings across 144 positions for Q3 2025.

Its largest position, MSFT, represents 4.1% of the portfolio.

Compared with Q2 2025, the fund opened 25 new positions and exited 23.

Portfolio Metrics

Turnover
+22.6%
vs prior filed quarter
Top-10 Concentration
+29.5%
share of reported value
Largest Position
+4.1%
Microsoft
New / Exited
25 / 23
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $12.2BQ4 ’18Q1 ’19: $12.4BQ2 ’19: $12.1BQ3 ’19: $12.0BQ4 ’19: $12.5BQ4 ’19Q1 ’20: $16.2BQ2 ’20: $12.3BQ3 ’20: $14.3BQ4 ’20: $15.6BQ4 ’20Q1 ’21: $18.0BQ2 ’21: $24.3BQ3 ’21: $20.8BQ4 ’21: $19.3BQ4 ’21Q1 ’22: $22.7BQ2 ’22: $17.7BQ3 ’22: $18.2BQ4 ’22: $15.3BQ4 ’22Q1 ’23: $20.3BQ2 ’23: $17.9BQ3 ’23: $23.3BQ4 ’23: $22.9BQ4 ’23Q1 ’24: $22.1BQ2 ’24: $21.2BQ3 ’24: $20.6BQ4 ’24: $19.7BQ4 ’24Q1 ’25: $18.7BQ2 ’25: $23.7BQ3 ’25: $24.4BQ4 ’25: $21.2BQ4 ’25Q1 ’26: $18.4Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 67.7%ETP: 27.1%Other: 3.6%ADR: 1.6%REIT: 0.0%Other: 0.0%
  • Common Stock · 67.7% · $17.7B
  • ETP · 27.1% · $7.1B
  • Other · 3.6% · $932M
  • ADR · 1.6% · $426M
  • REIT · 0.0% · $477,320
  • Other · 0.0% · $466,065

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
KELKELLANOVANEW+3.94M3.94M+$323M$323M
LLYELI LILLY & CONEW+375.0K375.0K+$286M$286M
ETHAISHARES ETHEREUM TRNEW+7.45M7.45M+$235M$235M
NSCNORFOLK SOUTHN CORPNEW+615.0K615.0K+$185M$185M
TEVATEVA PHARMACEUTICAL INDS LTDNEW+5.00M5.00M+$101M$101M
ABVXABIVAX SANEW+805.0K805.0K+$68M$68M
MLYSMINERALYS THERAPEUTICS INCNEW+1.67M1.67M+$63M$63M
GRAYSCALE COINDESK CRYPTONEW+851.2K851.2K+$48M$48M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

43 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1LBRDKLIBERTY BROADBAND CORPREVEALEDhistory →COM SER C4.34%$1.1B12.25M
2MSFTMICROSOFT CORPhistory →COM4.06%$991M1.91M
3AON PLCSHS CL A3.33%$812M2.28M
4EX9EXELIXIS INChistory →COM3.30%$805M19.50M
5AMZNAMAZON COM INChistory →COM3.15%$770M3.51M
6NTRANATERA INChistory →COM2.80%$685M4.25M
7RVMDREVOLUTION MEDICINES INChistory →COM2.80%$683M14.63M
8UNHUNITEDHEALTH GROUP INChistory →COM2.67%$651M1.89M
9TMOTHERMO FISHER SCIENTIFIC INChistory →COM2.50%$610M1.26M
10HIMSHIMS & HERS HEALTH INChistory →COM CL A2.50%$610M10.75M
11DISDISNEY WALT COhistory →COM2.44%$595M5.20M
12CRMSALESFORCE INChistory →COM2.39%$584M2.46M
13ADSKAUTODESK INChistory →COM2.16%$528M1.66M
14BSXBOSTON SCIENTIFIC CORPhistory →COM1.90%$463M4.75M
15IBITISHARES BITCOIN TRUST ETFhistory →SHS BEN INT1.86%$455M6.99M
16WABWABTEChistory →COM1.81%$442M2.21M
17BBIOBRIDGEBIO PHARMA INChistory →COM1.74%$425M8.19M
18PTGXPROTAGONIST THERAPEUTICS INChistory →COM1.68%$412M6.20M
19TRUTRANSUNIONhistory →COM1.62%$396M4.73M
20ARMKARAMARKhistory →COM1.41%$345M9.00M
21INTUINTUIThistory →COM1.36%$333M488.1K
22KELKELLANOVAhistory →COM1.32%$323M3.94M
23NDAQNASDAQ INChistory →COM1.31%$320M3.62M
24ADIANALOG DEVICES INChistory →COM1.31%$319M1.30M
25SCHWSCHWAB CHARLES CORPhistory →COM1.27%$310M3.25M
26NYTNEW YORK TIMES COhistory →CL A1.17%$286M4.99M
27GOOGALPHABET INChistory →CAP STK CL C1.12%$273M1.12M
28AMEDAMEDISYS INCREVEALEDhistory →COM1.08%$265M2.81M
29CBRECBRE GROUP INChistory →CL A1.04%$255M1.62M
30MCKMCKESSON CORPhistory →COM1.03%$253M327.1K
31BEAMBEAM THERAPEUTICS INChistory →COM1.00%$244M10.06M
32CRNXCRINETICS PHARMACEUTICALS INhistory →COM0.98%$240M5.77M
33ETHAISHARES ETHEREUM TRhistory →SHS0.96%$235M7.45M
34AGIOAGIOS PHARMACEUTICALS INChistory →COM0.95%$232M5.78M
35VVISA INChistory →COM CL A0.84%$205M599.8K
36LQDALIQUIDIA CORPORATIONhistory →COM NEW0.80%$195M8.57M
37NSCNORFOLK SOUTHN CORPhistory →COM0.76%$185M615.0K
38LNTHLANTHEUS HLDGS INChistory →COM0.73%$178M3.48M
39IQVIQVIA HLDGS INChistory →COM0.73%$178M938.6K
40WWDWOODWARD INChistory →COM0.64%$157M622.0K
41MAMASTERCARD INCORPORATEDhistory →CL A0.50%$122M213.8K
42260CENTESSA PHARMACEUTICALS PLChistory →SPONSORED ADS0.43%$105M4.33M
43TEVATEVA PHARMACEUTICAL INDS LTDhistory →SPONSORED ADS0.41%$101M5.00M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026REVEALED$18.4B174May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$21.2B151Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$24.4B144Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025REVEALED$23.7B143Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025REVEALED$18.7B143May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$19.7B138Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024REVEALED$20.6B154Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024REVEALED$21.2B158Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$22.1B167May 24, 2024RESTATEMENTchanges · EDGAR ↗
Q4 2023REVEALED$22.9B159Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023REVEALED$23.3B177Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023REVEALED$17.9B166Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023REVEALED$20.3B205May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$15.3B232Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022REVEALED$18.2B311Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022REVEALED$17.7B309Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022REVEALED$22.7B326May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021REVEALED$19.3B294Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021REVEALED$20.8B298Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021REVEALED$24.3B294Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$18.0B229May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020REVEALED$15.6B133Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020REVEALED$14.3B121Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020REVEALED$12.3B120Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020REVEALED$16.2B106May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$12.5B113Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019REVEALED$12.0B93Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$12.1B98Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$12.4B92May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018REVEALED$12.2B95Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.