Farallon Capital Management significantly increased its stake in Johnson & Johnson by over 175%, bringing its total holdings to 408,000 shares. According to its quarterly 13F disclosure, the value of the investment rose to $103.62 million by the end of June 2026. It is important to note that these filings reflect positions held on June 30 and were made public on August 14, so the transactions occurred in the second quarter.
The increased investment coincided with a period of positive developments for Johnson & Johnson, which acquired oncology-focused Firefly Bio for $1 billion in June. Shortly after the reporting period, Johnson & Johnson announced quarterly revenues surpassing $25 billion and increased its financial outlook for 2026. Farallon has not made any public statements regarding its motive for the increased investment.