13F-HR 1 farallon13fhr2004q2.txt -------------------------- OMB Approval -------------------------- OMB Number: 3235-0006 Expires: December 31, 2006 Estimated average burden hours per response....22.8 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year of Quarter Ended: June 30, 2004 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Farallon Capital Management, L.L.C. One Maritime Plaza Suite 1325 San Francisco, California 94111 Form 13F File Number: 28-3896 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Mark C. Wehrly Managing Member (415) 421-2132 /s/ Mark C. Wehrly ------------------------ San Francisco, California August 13, 2004 Report Type: 13F Holdings Report Form 13 F Summary Page Report Summary Number of Other Included Managers 1 Form 13 F Information Table Entry Total: 117 Form 13 F Information Table Value Total: $ 4,327,089 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. 1 Form 13F File Number: 28-6372 Name: Farallon Partners, L.L.C. Farallon Capital Management FORM 13F 30-Jun-04 Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Voting Authority ---------------------- Value Shares/ Sh/ Put/ Invstmt Other Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ------------------------------ --------------- --------- -------- ---------- --- ---- ------- -------- ---------- ------ ---- CapitalSource Inc COM 14055X102 562,268 22,996,646 SH Other 1 22,996,646 Allied Waste PFD SR C CONV 019589605 64,002 897,900 SH Other 1 897,900 Aclara Biosciences Inc. COM 00461P106 2,650 591,541 SH Other 1 591,541 Advanced Fibre Communication COM 00754A105 60,917 3,015,690 SH Other 1 3,015,690 Agere Systems Inc CL A 00845V100 270 117,600 SH Other 1 117,600 Agere Systems Inc CL B 00845V209 43,333 20,154,800 SH Other 1 20,154,800 Agilent Tech Inc DBCV 3% 12/0 00846UAB7 528 500,000 PRN Other 1 500,000 Alaska Comm Systems Group COM 01167P101 1,120 183,673 SH Other 1 183,673 AMC Entertainment Inc. COM 001669100 4,995 325,000 SH Other 1 325,000 Amdocs Ltd ORD G02602103 269 11,500 SH Other 1 11,500 American Home Mortgage Inv. COM 02660R107 10,102 389,600 SH Other 1 389,600 Amylin Pharmaceuticals Inc COM 032346108 102,055 4,476,100 SH Other 1 4,476,100 Anchor Glass Container Corp COM NEW 03304B300 1,184 87,543 SH Other 1 87,543 Anthem Inc. COM 03674B104 92,919 1,037,500 SH Other 1 1,037,500 Apogent Technologies Inc. COM 03760A101 19,498 609,300 SH Other 1 609,300 Arbor Realty Trust Inc COM 038923108 6,883 345,000 SH Other 1 345,000 Arch Capital Group ORD G0450A105 31,418 787,824 SH Other 1 787,824 AT&T Wireless Grp. COM 00209A106 500,899 34,979,000 SH Other 1 34,979,000 Atherogenics Inc. COM 047439104 27,165 1,427,508 SH Other 1 1,427,508 Autonation In COM 05329W102 10,036 586,900 SH Other 1 586,900 Aventis ADR SPONS ADR 053561106 2,891 38,000 SH Other 1 38,000 Banco Latinoamericano Exp CL E P16994132 48,161 3,071,512 SH Other 1 3,071,512 Bank of America COM 060505104 376,075 4,444,285 SH Other 1 4,444,285 Bay View Capital Corporation COM 07262L101 2,492 1,209,900 SH Other 1 1,209,900 Beasley Broadcast Group CL A 074014101 3,246 214,830 SH Other 1 214,830 Blyth Inc. COM 09643P108 15,048 436,300 SH Other 1 436,300 Boise Cascade COM 097383103 68,104 1,809,364 SH Other 1 1,809,364 Bruker Biosciences Corp COM 116794108 15,933 3,271,600 SH Other 1 3,271,600 Caesars Entertainment Inc. COM 127687101 8,884 592,300 SH Other 1 592,300 Capital Lease Funding Inc. COM 140288101 2,508 241,200 SH Other 1 241,200 Catalytica Energy Systems COM 148884109 6,476 2,280,338 SH Other 1 2,280,338 Cemex SA ADR SPONS ADR 5 ORD 151290889 23,426 805,000 SH Other 1 805,000 Centurytel Inc. COM 156700106 1,781 59,300 SH Other 1 59,300 Charter Communications NOTE 5.75% 10/1 16117MAB3 30,185 31,525,000 PRN Other 1 31,525,000 Charter One Financial Inc. COM 160903100 301,190 6,815,800 SH Other 1 6,815,800 CIA Vale Do Rio Doce SPONS ADR 204412209 9,263 194,802 SH Other 1 194,802 Citigroup Inc W EXP 99/99/999 172967127 6,914 7,947,558 SH Other 1 7,947,558 Citizens Communications COM 17453B101 44,521 3,679,400 SH Other 1 3,679,400 City Investing Co Liq. Tr UNIT BEN INT 177900107 24,382 12,376,846 SH Other 1 12,376,846 Community First Bankshares COM 203902101 9,682 300,763 SH Other 1 300,763 Compania Anonima Nat. Tele. de SPONS ADR D 204421101 7,852 389,700 SH Other 1 389,700 Corgentech Inc. COM 21872P105 32,480 2,014,883 SH Other 1 2,014,883 Corrections Corp of America COM NEW 22025Y407 21,854 553,400 SH Other 1 553,400 Countrywide Financial Corp COM 222372104 53,028 754,844 SH Other 1 754,844 Columbia Laboratories Inc. COM 197779101 7,584 2,192,000 SH Other 1 2,192,000 CSG Systems Intl Inc COM 126349109 21,001 1,014,540 SH Other 1 1,014,540 D&E Communications COM 232860106 3,671 273,541 SH Other 1 273,541 Disney Co. COM DISNEY 254687106 80,291 3,149,900 SH Other 1 3,149,900 DPL Inc. COM 233293109 115,295 5,936,900 SH Other 1 5,936,900 DST Systems Inc. COM 233326107 32,600 677,900 SH Other 1 677,900 Eagle Materials Inc. CL B 26969P207 1,806 26,075 SH Other 1 26,075 Emmis Communications CL A 291525103 3,531 168,300 SH Other 1 168,300 Entravision Comm. CL A 29382R107 351 45,683 SH Other 1 45,683 Freeport-McMoran Copper CL B 35671D857 19,608 591,500 SH Other 1 591,500 Gartner Group CL B 366651206 15,918 1,234,880 SH Other 1 1,234,880 Golf Trust of America COM 38168B103 266 112,200 SH Other 1 112,200 Hayes Lemmerz International COM 420781304 11,526 763,300 SH Other 1 763,300 Insurance Auto Auctions COM 457875102 15,697 923,380 SH Other 1 923,380 Invision Tenchnologies Inc. COM 461851107 8,925 178,861 SH Other 1 178,861 Invitrogen NOTE 2.25% 12/1 46185RAD2 13,569 13,000,000 PRN Other 1 13,000,000 Juniper Networks Inc COM 48203R104 20,807 846,840 SH Other 1 846,840 KT Corp SPONS ADR 48268K101 12,024 666,500 SH Other 1 666,500 Laboratory Crp of Amer Hldgs COM NEW 50540R409 82,636 2,081,500 SH Other 1 2,081,500 LECG Corp COM 523234102 1,721 99,400 SH Other 1 99,400 Libbey Inc. COM 529898108 22,125 797,000 SH Other 1 797,000 Liberty Media Corp COM SER A 530718105 43,949 4,888,700 SH Other 1 4,888,700 Liberty Media Intl Inc COM SER A 530719103 8,280 223,182 SH Other 1 223,182 LSI Logic NOTE 4% 11/0 502161AG7 12,242 12,500,000 PRN Other 1 12,500,000 Mandalay Resort Group COM 562567107 170,159 2,479,000 SH Other 1 2,479,000 Maxwell Shoe Co CL A 577766108 16,733 720,000 SH Other 1 720,000 Medtronic Inc. DBCV 1.25% 9/1 585055AB2 55,203 54,320,000 PRN Other 1 54,320,000 Methanex Corp COM 59151K108 22,427 1,691,301 SH Other 1 1,691,301 MI Developments Inc CL A SUB VTG 55304X104 27,788 1,029,200 SH Other 1 1,029,200 Midas Inc COM 595626102 11,717 673,400 SH Other 1 673,400 Monolithic System Tech. COM 609842109 753 100,000 SH Other 1 100,000 Montpelier Re Holdings SHS G62185106 31,993 915,400 SH Other 1 915,400 MTR Gaming Group Inc. COM 553769100 11,122 1,015,710 SH Other 1 1,015,710 Nat'l Commerce Financial Corp COM 63545P104 67,938 2,090,400 SH Other 1 2,090,400 NewAlliance BancShares COM 650203102 4,618 330,800 SH Other 1 330,800 Newcastle Investment Corp COM 65105M108 9,311 310,900 SH Other 1 310,900 NPS Pharmaceuticals Inc. COM 62936P103 7,736 368,400 SH Other 1 368,400 Oxford Health Plans Inc. COM 691471106 2,174 39,500 SH Other 1 39,500 Peoplesoft Inc COM 712713106 565 30,525 SH Other 1 30,525 PG&E Corporation COM 69331C108 128,328 4,592,997 SH Other 1 4,592,997 Pharmacyclics Inc. COM 716933106 11,458 1,130,000 SH Other 1 1,130,000 Phelps Dodge Corp COM 717265102 38,073 491,200 SH Other 1 491,200 Platinum Underwriters Holdings COM G7127P100 42,273 1,389,200 SH Other 1 1,389,200 Potash Corp of Saskatchewan COM 73755L107 41,279 426,000 SH Other 1 426,000 Prime Hospitality Corp COM 741917108 2,996 282,100 SH Other 1 282,100 QLT Inc. COM 746927102 1,038 51,800 SH Other 1 51,800 Quantum Corp COM DSSG 747906204 4,333 1,397,800 SH Other 1 1,397,800 RAE Systems Inc. COM 75061P102 2,700 500,000 SH Other 1 500,000 Regal Entertainment Group CL A 758766109 2,545 140,600 SH Other 1 140,600 Register Com Inc COM 75914G101 13,738 2,301,154 SH Other 1 2,301,154 Sandisk Corp COM 80004C101 11,431 527,000 SH Other 1 527,000 Sappi Ltd. SPONS ADR NEW 803069202 24,729 1,611,000 SH Other 1 1,611,000 Scitex Corp Ltd ORD 809090103 725 116,700 SH Other 1 116,700 Seagate Technology Holdings SHS G7945J104 1,626 112,700 SH Other 1 112,700 Sealed Air Corp COM 81211K100 63,924 1,200,000 SH Other 1 1,200,000 Shanda Interactive Ent. SPONS ADR 81941Q203 3,855 250,000 SH Other 1 250,000 Southtrust Corp COM 844730101 9,897 255,000 SH Other 1 255,000 Telefonos De Mexico SPONS ADR ORD L 879403780 11,066 332,600 SH Other 1 332,600 Telik Inc. COM 87959M109 26,023 1,090,200 SH Other 1 1,090,200 Trimeris Inc. COM 896263100 3,594 249,032 SH Other 1 249,032 TV Azteca S.A. SPONS ADR 901145102 26,317 3,046,000 SH Other 1 3,046,000 United Stationers Inc COM 913004107 81,883 2,061,497 SH Other 1 2,061,497 Univision Communications CL A 914906102 2,619 82,025 SH Other 1 82,025 US Airways Group CL A 911905503 1,951 830,350 SH Other 1 830,350 US Oncology Inc. COM 90338W103 9,805 666,100 SH Other 1 666,100 Valassis Communications Inc. COM 918866104 3,504 115,000 SH Other 1 115,000 Waste Management Inc COM 94106L109 7,120 232,300 SH Other 1 232,300 WebMD Corp COM 94769M105 25,325 2,717,300 SH Other 1 2,717,300 WebMD Corp '07 NOTE 3.25% 4/0 94769MAC9 7,989 7,000,000 PRN Other 1 7,000,000 West Pharmaceutical Svcs COM 955306105 15,693 371,000 SH Other 1 371,000 Western Digital Corp COM 958102105 12,342 1,425,200 SH Other 1 1,425,200 Williams Cos. Inc. COM 969457100 23,018 1,934,300 SH Other 1 1,934,300 Yankee Candle COM 984757104 9,345 319,500 SH Other 1 319,500