Farallon Capital Management LLC
The positions Farallon Capital Management LLC reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 14 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.
Reported book is the quarter-end market value of the securities on the 13F, mostly US-listed long equity. It is not the manager’s assets under management: shorts, cash, leverage and most non-US or private holdings sit outside it.
Opened this quarter
A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.
- State Street SPDR S&P 500 ETF (SPY)puts$4.5bn · 21%
- iShares Semiconductor (SOXX)puts$83m · 0.4%
- Parabilis Medicines Inc (PBLS)$65m · 0.3%
- Novartis AG (NVS)Sponsored ADR$57m · 0.3%
- CG Oncology Inc (CGON)calls$28m · 0.1%
- Warby Parker Inc (WRBY)Class A Common$25m · 0.1%
- Kailera Therapeutics Inc (KLRA)$24m · 0.1%
- Axalta Coating Sys LTD (AXTA)$16m · 0.1%
- Biogen Inc (BIIB)$15m · 0.1%
- Taysha Gene Therapies Inc (TSHA)$15m · 0.1%
- Mobia Med Inc (MOBI)$15m · 0.1%
- Strategy IncNote 2.250% 6/1$14m · 0.1%
- and 11 more, in the table below.
Sold out of this quarter
Exits are valued at what the position was worth in the previous filing, because by this one it is gone.
- State Street SPDR S&P 500 ETF$1.5bn held before
- Invesco Exchange Traded FD T$691m held before
- Schwab Charles Corp (SCHW)$372m held before
- Alphabet Inc (GOOG)$286m held before
- Visa Inc (V)$254m held before
- Disney Walt Co (DIS)$232m held before
- Mastercard Incorporated (MA)$217m held before
- Mckesson Corp (MCK)$203m held before
- Centessa Pharmaceuticals PLC (CNTA)$191m held before
- Tyra Biosciences Inc (TYRA)$137m held before
- Tenet Healthcare Corp (THC)$85m held before
- Cardinal Health Inc (CAH)$78m held before
- and 94 more.
Every reported position, Q2 2026
89 positions, sorted by weight
| Position | Weight ↓ | Value | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF (SPY) puts · CUSIP 78462F103 | 21% | $4.5bn | 6,000,000 | No earlier filing | New |
| Revolution Medicines Inc (RVMD) CUSIP 76155X100 | 12% | $2.5bn | 13,550,796 | +$1.2bn -54,000 shares | Trimmed |
| Electronic Arts Inc (EA) CUSIP 285512109 | 7.5% | $1.6bn | 7,919,500 | +$101m +449,500 shares | Added |
| Bridgebio Pharma Inc (BBIO) CUSIP 10806X102 | 3.7% | $800m | 10,743,063 | +$105m +1,377,600 shares | Added |
| Protagonist Therapeutics Inc (PTGX) CUSIP 74366E102 | 3.6% | $778m | 6,348,906 | +$109m 0 shares | Held |
| Exelixis Inc (EXEL) CUSIP 30161Q104 | 3.4% | $733m | 13,468,010 | +$171m +357,000 shares | Added |
| Liquidia Corporation (LQDA) CUSIP 53635D202 | 3.1% | $667m | 8,365,038 | +$340m -291,000 shares | Trimmed |
| Amazon Com Inc (AMZN) CUSIP 023135106 | 2.9% | $628m | 2,632,994 | -$251m -1,585,400 shares | Trimmed |
| Lantheus HLDGS Inc (LNTH) CUSIP 516544103 | 2.9% | $619m | 5,583,479 | +$196m 0 shares | Held |
| Natera Inc (NTRA) CUSIP 632307104 | 2.8% | $602m | 2,218,366 | -$39m -989,000 shares | Trimmed |
| Unitedhealth Group Inc (UNH) CUSIP 91324P102 | 2.4% | $528m | 1,270,532 | +$35m -551,174 shares | Trimmed |
| Thermo Fisher Scientific Inc (TMO) CUSIP 883556102 | 2.4% | $526m | 1,049,185 | +$93m +167,700 shares | Added |
| Roivant Sciences LTD (ROIV) CUSIP G76279101 | 2.3% | $506m | 14,309,000 | +$238m +4,634,000 shares | Added |
| Aon PLC (AON) Shares Class A · CUSIP G0403H108 | 2.1% | $459m | 1,382,562 | -$352m -1,130,076 shares | Trimmed |
| Boston Scientific Corp (BSX) CUSIP 101137107 | 2.1% | $449m | 10,521,184 | -$20m +3,050,500 shares | Added |
| Broadcom Inc (AVGO) CUSIP 11135F101 | 2.0% | $435m | 1,151,800 | -$116m -627,700 shares | Trimmed |
| Microsoft Corp (MSFT) CUSIP 594918104 | 1.9% | $415m | 1,112,863 | -$453m -1,231,916 shares | Trimmed |
| Tango Therapeutics Inc (TNGX) CUSIP 87583X109 | 1.8% | $384m | 12,277,000 | +$194m +3,179,589 shares | Added |
| KKR & Co Inc (KKR) CUSIP 48251W104 | 1.7% | $378m | 4,118,300 | -$54m -553,500 shares | Trimmed |
| Synopsys Inc (SNPS) CUSIP 871607107 | 1.7% | $370m | 829,600 | -$111m -383,700 shares | Trimmed |
| Beam Therapeutics Inc (BEAM) CUSIP 07373V105 | 1.6% | $351m | 10,236,396 | +$110m +101,700 shares | Added |
| Crinetics Pharmaceuticals In (CRNX) CUSIP 22663K107 | 1.6% | $336m | 8,989,098 | +$34m +651,000 shares | Added |
| Grail Inc (GRAL) CUSIP 384747101 | 1.3% | $284m | 4,161,584 | +$116m +907,900 shares | Added |
| Wabtec (WAB) CUSIP 929740108 | 1.1% | $241m | 894,503 | -$161m -714,900 shares | Trimmed |
| Immunovant Inc (IMVT) CUSIP 45258J102 | 1.0% | $224m | 5,805,000 | +$185m +4,259,000 shares | Added |
| Twist Bioscience Corp (TWST) CUSIP 90184D100 | 1.0% | $220m | 2,136,400 | +$152m +708,750 shares | Added |
| Agios Pharmaceuticals Inc (AGIO) CUSIP 00847X104 | 1.0% | $220m | 5,917,400 | +$27m +233,400 shares | Added |
| Aramark (ARMK) CUSIP 03852U106 | 1.0% | $206m | 3,625,731 | -$42m -2,509,700 shares | Trimmed |
| Baidu Inc (BIDU) Sponsored ADR REP A · CUSIP 056752108 | 0.6% | $138m | 1,203,785 | +$88m +760,000 shares | Added |
| Novo-nordisk A S (NVO) ADR · CUSIP 670100205 | 0.6% | $126m | 2,619,000 | +$97m +1,837,000 shares | Added |
| Acadia Healthcare Company In (ACHC) CUSIP 00404A109 | 0.6% | $125m | 4,220,800 | +$84m +2,484,000 shares | Added |
| Brightspring Health SVCS Inc (BTSG) CUSIP 10950A106 | 0.6% | $121m | 1,732,800 | +$52m +115,800 shares | Added |
| Astrazeneca PLC (AZN) CUSIP G0593M107 | 0.5% | $109m | 574,000 | +$64m +347,501 shares | Added |
| Johnson & Johnson (JNJ) CUSIP 478160104 | 0.5% | $104m | 408,000 | +$67m +260,000 shares | Added |
| iShares Semiconductor (SOXX) puts · CUSIP 464287523 | 0.4% | $83m | 130,000 | No earlier filing | New |
| Strategy Inc Note 12/0 · CUSIP 594972AS0 | 0.3% | $75m | 87,858,000 | +$43m +48,358,000 shares | Added |
| Parabilis Medicines Inc (PBLS) CUSIP 698955101 | 0.3% | $65m | 2,368,200 | No earlier filing | New |
| Novartis AG (NVS) Sponsored ADR · CUSIP 66987V109 | 0.3% | $57m | 363,000 | No earlier filing | New |
| Guardant Health Inc (GH) CUSIP 40131M109 | 0.2% | $48m | 322,200 | +$48m +314,200 shares | Added |
| Vnet Group Inc (VNET) Note 2.000%10/0 · CUSIP 90138AAE3 | 0.2% | $47m | 45,000,000 | +$2.3m 0 shares | Held |
| Avalo Therapeutics Inc (AVTX) CUSIP 05338F306 | 0.2% | $46m | 2,498,000 | +$33m +1,582,000 shares | Added |
| Joyy Inc (JOYY) ADS Repstg Common A · CUSIP 46591M109 | 0.2% | $46m | 699,200 | +$12m +121,000 shares | Added |
| Assembly Biosciences Inc (ASMB) CUSIP 045396207 | 0.2% | $44m | 1,604,590 | +$10m +377,000 shares | Added |
| Enanta Pharmaceuticals Inc (ENTA) CUSIP 29251M106 | 0.2% | $35m | 2,418,202 | -$1.0m -453,660 shares | Trimmed |
| Maze Therapeutics Inc (MAZE) CUSIP 578784100 | 0.2% | $33m | 1,107,814 | +$22m +734,814 shares | Added |
| CG Oncology Inc (CGON) calls · CUSIP 156944100 | 0.1% | $28m | 400,000 | No earlier filing | New |
| Merck & Co Inc (MRK) CUSIP 58933Y105 | 0.1% | $26m | 199,000 | -$18m -162,000 shares | Trimmed |
| Warby Parker Inc (WRBY) Class A Common · CUSIP 93403J106 | 0.1% | $25m | 828,000 | No earlier filing | New |
| Perceptive Cap Solutions Cor (PCSC) Class A Ordinary Shares · CUSIP G70077105 | 0.1% | $25m | 2,250,000 | -$200k 0 shares | Held |
| Kailera Therapeutics Inc (KLRA) CUSIP 482931102 | 0.1% | $24m | 1,100,000 | No earlier filing | New |
| Rio Tinto PLC (RIO) Sponsored ADR · CUSIP 767204100 | 0.1% | $17m | 183,475 | +$12m +129,675 shares | Added |
| Axalta Coating Sys LTD (AXTA) CUSIP G0750C108 | 0.1% | $16m | 478,000 | No earlier filing | New |
| Abivax SA (ABVX) Sponsored ADS · CUSIP 00370M103 | 0.1% | $16m | 122,000 | +$16m +120,000 shares | Added |
| Vnet Group Inc (VNET) Sponsored ADS A · CUSIP 90138A103 | 0.1% | $16m | 1,992,000 | +$11m +1,368,653 shares | Added |
| Netease Com Inc (NTES) Sponsored ADS · CUSIP 64110W102 | 0.1% | $16m | 123,500 | -$17m -167,719 shares | Trimmed |
| Biogen Inc (BIIB) CUSIP 09062X103 | 0.1% | $15m | 71,000 | No earlier filing | New |
| Taysha Gene Therapies Inc (TSHA) CUSIP 877619106 | 0.1% | $15m | 2,250,000 | No earlier filing | New |
| Mobia Med Inc (MOBI) CUSIP 60705V103 | 0.1% | $15m | 1,128,557 | No earlier filing | New |
| Strategy Inc Note 2.250% 6/1 · CUSIP 594972AN1 | 0.1% | $14m | 15,000,000 | No earlier filing | New |
| Minerva Neurosciences Inc (NERV) CUSIP 603380205 | 0.1% | $13m | 2,365,000 | -$1.1m 0 shares | Held |
| Alamar Biosciences Inc (ALMR) CUSIP 010911105 | 0.1% | $13m | 462,900 | No earlier filing | New |
| Alvotech (ALVO) CUSIP L01800108 | 0.0% | $11m | 2,859,675 | +$9.9m +2,660,000 shares | Added |
| Beta Bionics Inc (BBNX) CUSIP 08659B102 | 0.0% | $9.3m | 595,000 | -$27m -3,012,920 shares | Trimmed |
| Inflarx NV (IFRX) CUSIP N44821101 | 0.0% | $7.4m | 3,325,000 | No earlier filing | New |
| Scotts Miracle-gro Co (SMG) Class A · CUSIP 810186106 | 0.0% | $6.0m | 88,000 | No earlier filing | New |
| Waystar HLDG Corp (WAY) CUSIP 946784105 | 0.0% | $5.4m | 264,900 | No earlier filing | New |
| Brunswick Corp (BC) CUSIP 117043109 | 0.0% | $5.1m | 61,000 | No earlier filing | New |
| Gentex Corp (GNTX) CUSIP 371901109 | 0.0% | $5.0m | 199,000 | No earlier filing | New |
| Idexx Labs Inc (IDXX) CUSIP 45168D104 | 0.0% | $4.7m | 9,000 | No earlier filing | New |
| Prime Medicine Inc (PRME) CUSIP 74168J101 | 0.0% | $4.6m | 1,240,843 | +$300k 0 shares | Held |
| Commercial Metals Co (CMC) CUSIP 201723103 | 0.0% | $4.2m | 67,000 | No earlier filing | New |
| Jatt II Acquisition Corp (JATT) CUSIP G50765109 | 0.0% | $3.4m | 300,000 | No earlier filing | New |
| Sagimet Biosciences Inc (SGMT) Common Series A · CUSIP 786700104 | 0.0% | $3.2m | 415,000 | No earlier filing | New |
| Strategy Inc Note 3/0 · CUSIP 594972AU5 | 0.0% | $2.3m | 2,632,000 | No earlier filing | New |
| Summit Midstream Corporation (SMC) CUSIP 86614G101 | 0.0% | $1.7m | 58,214 | -$100k 0 shares | Held |
| Teva Pharmaceutical Inds LTD (TEVA) Sponsored ADS · CUSIP 881624209 | 0.0% | $1.4m | 40,000 | -$9.3m -314,000 shares | Trimmed |
| Revolution Medicines Inc (RVMDW) *w EXP 12/17/202 · CUSIP 76155X118 | 0.0% | $1.1m | 120,085 | +$900k 0 shares | Held |
| Cogent Biosciences Inc (COGT) CUSIP 19240Q201 | 0.0% | $700k | 17,000 | unchanged 0 shares | Held |
| Aleanna Inc (ANNAW) *w EXP 12/13/202 · CUSIP 01444V111 | 0.0% | $300k | 990,000 | -$500k 0 shares | Held |
| Aleanna Inc (ANNA) Common Class A · CUSIP 01444V103 | 0.0% | $200k | 78,400 | -$400k 0 shares | Held |
| Welltower Inc (WELL) CUSIP 95040Q104 | 0.0% | $200k | 1,000 | -$39m -199,000 shares | Trimmed |
| Solid Power Inc (SLDPW) *w EXP 12/08/202 · CUSIP 83422N113 | 0.0% | $0 | 405,316 | unchanged 0 shares | Held |
| Blue Gold LTD (BGLWW) *w EXP 04/01/203 · CUSIP G1331C112 | 0.0% | $0 | 255,800 | unchanged -44,200 shares | Trimmed |
| Pacific Biosciences Calif In (PACB) CUSIP 69404D108 | 0.0% | $0 | 14,200 | -$200k -120,800 shares | Trimmed |
| Geron Corp (GERN) CUSIP 374163103 | 0.0% | $0 | 14,400 | unchanged -28,600 shares | Trimmed |
| Nvni Group Limited (NVNIW) *w EXP 11/01/202 · CUSIP G50716110 | 0.0% | $0 | 375,000 | unchanged 0 shares | Held |
| Canopy Growth Corporation (CGC) CUSIP 138035704 | 0.0% | $0 | 18,000 | unchanged -12,000 shares | Trimmed |
| Rani Therapeutics HLDGS Inc (RANI) Common Class A · CUSIP 753018100 | 0.0% | $0 | 20,700 | unchanged -57,300 shares | Trimmed |
| Beyond Meat Inc (BYND) CUSIP 08862E109 | 0.0% | $0 | 19,000 | unchanged 0 shares | Held |
Every filing on file
| Quarter | Period end | Filed | Book | Positions | Top 10 | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | 30 Jun 2026 | 14 Aug 2026 | $21.7bn | 89 | 62% | 13F-HR |
| Q1 2026 | 31 Mar 2026 | 15 May 2026 | $19.1bn | 173 | 50% | 13F-HR |
| Q4 2025 | 31 Dec 2025 | 17 Feb 2026 | $23.1bn | 154 | 44% | 13F-HR |
| Q3 2025 | 30 Sept 2025 | 17 Feb 2026 | $24.4bn | 144 | 48% | 13F-HR |
| Q2 2025 | 30 Jun 2025 | 14 Aug 2025 | $23.8bn | 145 | 45% | 13F-HR |
| Q1 2025 | 31 Mar 2025 | 15 May 2025 | $20.9bn | 146 | 40% | 13F-HR |
| Q4 2024 | 31 Dec 2024 | 14 Feb 2025 | $22.8bn | 151 | 40% | 13F-HR |
| Q3 2024 | 30 Sept 2024 | 14 Nov 2024 | $22.8bn | 165 | 40% | 13F-HR |
Taking this into the room
Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.
A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.
What this filing leaves out
A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.
The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.
You have read the book. Now have a view on one name
Pick a position, work out what it is worth, and be ready to defend it. That is the difference between a candidate who read the filing and one who did something with it.
Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More
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