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Funds (13F)

Farallon Capital Management, L.L.C.

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+7.0%
S&P 500 +14.1%
Last 12 months
+23.5%
S&P 500 +12.1%
Sharpe ratio
0.49
S&P 500 0.78
Biggest drop
−22.4%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$24.3k
StrategyS&P 500 $10,000 in Farallon Capital Management, L.L.C. from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Farallon Capital Management, L.L.C.'s quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Farallon Capital Management, L.L.C.'s 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+7.0%+14.1%
Total return+143%+470%
Last 12 months+23.5%+12.1%
Last 3 months+2.2%—
Last month+0.4%—
This year so far+23.5%—
Volatility a year10.8%16.0%
Sharpe ratio0.490.78
Biggest drop−22.4%−31.8%
Beta to the S&P 5000.311.00
Alpha a year (t-statistic)+1.5% (0.58)—
Share of weeks up27%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
RVMD17.1%——
BBIO5.4%——
PTGX5.2%——
EXEL4.9%——
LQDA4.5%——
AMZN4.2%——
LNTH4.2%——
NTRA4.0%——
UNH3.5%——
TMO3.5%——
ROIV3.4%——
AON3.1%——
BSX3.0%——
AVGO2.9%——
MSFT2.8%——
TNGX2.6%——
KKR2.5%——
SNPS2.5%——
BEAM2.4%——
GRAL1.9%——
WAB1.6%——
IMVT1.5%——
TWST1.5%——
AGIO1.5%——
ARMK1.4%——
BIDU0.9%——
NVO0.8%——
ACHC0.8%——
BTSG0.8%——
AZN0.7%——
JNJ0.7%——
PBLS0.4%——
GH0.3%——
AVTX0.3%——
JOYY0.3%——
ASMB0.3%——
ENTA0.2%——
MAZE0.2%——
MRK0.2%——
WRBY0.2%——
KLRA0.2%——
AXTA0.1%——
ABVX0.1%——
VNET0.1%——
NTES0.1%——
BIIB0.1%——
TSHA0.1%——
MOBI0.1%——
NERV0.1%——
ALMR0.1%——
ALVO0.1%——
BBNX0.1%——
IFRX0.1%——
SMG0.0%——
WAY0.0%——
BC0.0%——
GNTX0.0%——
IDXX0.0%——
PRME0.0%——
CMC0.0%——
SGMT0.0%——
SMC0.0%——
TEVA0.0%——
COGT0.0%——
ANNA0.0%——
WELL0.0%——
PACB0.0%——
GERN0.0%——
CGC0.0%——
RANI0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+7.0%+14.1%0.490.78−22.4%0.31+1.5% (0.58)
2018 onwards5 Jan 2018 to 2 Nov 2026+2.6%+13.9%0.030.66−22.4%0.17−1.7% (−0.58)
Last three years3 Nov 2023 to 2 Nov 2026+7.3%+21.8%0.301.16−8.0%0.18+0.1% (0.02)
Last year7 Nov 2025 to 2 Nov 2026+23.9%+14.2%1.100.84−8.0%0.76+11.2% (0.76)
DateCompanyAction
21 Aug 2026WRBYBought
21 Aug 2026WELLBought
21 Aug 2026TSHABought
21 Aug 2026SNPSBought
21 Aug 2026SMGBought
21 Aug 2026SGMTBought
21 Aug 2026RANIBought
21 Aug 2026PBLSBought
21 Aug 2026NVOBought
21 Aug 2026NTESBought
21 Aug 2026NERVBought
21 Aug 2026MRKBought
21 Aug 2026MOBIBought
21 Aug 2026MAZEBought
21 Aug 2026KLRABought
21 Aug 2026KKRBought
21 Aug 2026JNJBought
21 Aug 2026IFRXBought
21 Aug 2026IDXXBought
21 Aug 2026GNTXBought
21 Aug 2026CMCBought
21 Aug 2026BIIBBought
21 Aug 2026BCBought
21 Aug 2026AZNBought
21 Aug 2026AXTABought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026WWDSold
21 Aug 2026WGSSold
21 Aug 2026VCYTSold
21 Aug 2026VSold
21 Aug 2026URGNSold
21 Aug 2026TYRASold
21 Aug 2026TVTXSold
21 Aug 2026TVRDSold
21 Aug 2026TRUSold
21 Aug 2026THCSold
21 Aug 2026TECXSold
21 Aug 2026SVRASold
21 Aug 2026SRRKSold
21 Aug 2026SNDXSold
21 Aug 2026SGRYSold
21 Aug 2026SDGRSold
21 Aug 2026SCHWSold
21 Aug 2026SBRASold
21 Aug 2026RARESold
21 Aug 2026QURESold
21 Aug 2026PGNYSold
21 Aug 2026OSCRSold
21 Aug 2026ONCSold
21 Aug 2026NYTSold
21 Aug 2026NVAXSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest