13F-HR 1 faralloncm-13f_hrq12005.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: March 31, 2005 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 May 16, 2005 Report Type: 13F Combination Report List of Other Managers Reporting for this Manager: Noonday Asset Management, L.P. Form 13F File Number: 28- Form 13 F Summary Page Report Summary Number of Other Included Managers 1 Form 13 F Information Table Entry Total: 107 Form 13 F Information Table Value Total: $ 3,500,024 (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. FORM 13F INFORMATION TABLE Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 VALUE SHRS OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ----------------------------------------------------------------------------------------------------------------------------------- AFFORDABLE RESIDENTIAL CMTYS COM 008273104 8,971 709,200 SH OTHER 01 709,200 AGERE SYS INC CL B 00845V209 2,915 2,052,800 SH OTHER 01 2,052,800 AMYLIN PHARMACEUTICALS INC COM 032346108 98,136 5,611,000 SH OTHER 01 5,611,000 ANCHOR GLASS CONTAINER CP NE COM NEW 03304B300 1,146 511,756 SH OTHER 01 511,756 ARAMARK CORP CL B 038521100 12,743 484,900 SH OTHER 01 484,900 ARBOR RLTY TR INC COM 038923108 29,522 1,192,800 SH OTHER 01 1,192,800 ARCH CAP GROUP LTD ORD G0450A105 44,672 1,115,688 SH OTHER 01 1,115,688 ATHEROGENICS INC COM 047439104 43,629 3,333,000 SH OTHER 01 3,333,000 AUTOZONE INC COM 053332102 28,710 335,000 SH OTHER 01 335,000 B & G FOODS INC NEW UNIT 99/99/9999 05508R205 2,478 166,300 SH OTHER 01 166,300 BARNES & NOBLE INC COM 067774109 45,699 1,325,000 SH OTHER 01 1,325,000 BEDFORD PPTY INVS INC COM PAR $0.02 076446301 2,334 106,900 SH OTHER 01 106,900 BEST BUY INC COM 086516101 24,845 460,000 SH OTHER 01 460,000 BEST BUY INC COM 086516101 4,050 75,000 CALL OTHER 01 75,000 BURLINGTON NORTHN SANTA FE C COM 12189T104 8,090 150,000 SH OTHER 01 150,000 CAESARS ENTMT INC COM 127687101 140,754 7,112,400 SH OTHER 01 7,112,400 CAPITAL LEASE FDG INC COM 140288101 9,268 838,700 SH OTHER 01 838,700 CAPITAL TRUST INC MD CL A NEW 14052H506 557 16,800 SH OTHER 01 16,800 CAPITALSOURCE INC COM 14055X102 528,923 22,996,646 SH OTHER 01 22,996,646 CASCADE MICROTECH INC COM 147322101 3,362 350,200 SH OTHER 01 350,200 CASELLA WASTE SYS INC CL A 147448104 1,938 146,521 SH OTHER 01 146,521 CENTURYTEL INC COM 156700106 1,123 34,200 SH OTHER 01 34,200 CHARTER COMMUNICATIONS INC D CL A 16117M107 5,600 3,500,000 SH OTHER 01 3,500,000 CHIRON CORP DBCV 1.625% 8/0 170040ag4 9,607 10,400,000 PRN OTHER 01 10,400,000 CIRCUIT CITY STORE INC COM 172737108 106,010 6,605,000 SH OTHER 01 6,605,000 CITADEL BROADCASTING CORP NOTE 1.875% 2/1 17285TAB2 10,328 12,500,000 PRN OTHER 01 12,500,000 CITIGROUP INC COM 172967101 52,805 1,175,000 SH OTHER 01 1,175,000 CITIGROUP INC *W EXP 99/99/999 172967127 13,807 7,934,796 SH OTHER 01 7,934,796 CITIZENS COMMUNICATIONS CO COM 17453B101 8,969 693,100 SH OTHER 01 693,100 CITY INVESTING CO LIQ TR UNIT BEN INT 177900107 23,970 12,615,545 SH OTHER 01 12,615,545 COINMACH SVC CORP UNIT 99/99/9999 19259W107 2,630 200,000 SH OTHER 01 200,000 COLUMBIA LABS INC COM 197779101 4,187 2,192,000 SH OTHER 01 2,192,000 COMPANIA ANONIMA NACIONL TEL SPON ADR D 204421101 7,373 389,700 SH OTHER 01 389,700 CORRECTIONS CORP AMER NEW COM NEW 22025Y407 70,958 1,838,300 SH OTHER 01 1,838,300 COUNTRYWIDE FINANCIAL CORP COM 222372104 91,303 2,812,800 SH OTHER 01 2,812,800 CSG SYS INTL INC COM 126349109 5,827 357,700 SH OTHER 01 357,700 CUBIST PHARMACEUTICALS INC COM 229678107 10,357 975,255 SH OTHER 01 975,255 CYPRESS SEMICONDUCTOR CORP NOTE 1.250% 6/1 232806AH2 14,838 13,900,000 PRN OTHER 01 13,900,000 D & E COMMUNICATIONS INC COM 232860106 2,498 273,567 SH OTHER 01 273,567 DOLLAR FINL CORP COM 256664103 5,940 500,000 SH OTHER 01 500,000 DOUBLECLICK INC COM 258609304 25,025 3,250,000 SH OTHER 01 3,250,000 DST SYS INC DEL COM 233326107 5,195 112,500 SH OTHER 01 112,500 EDUCATION RLTY TR INC COM 28140H104 1,615 97,100 SH OTHER 01 97,100 FAIRPOINT COMMUNICATIONS INC COM 305560104 19,461 1,300,000 SH OTHER 01 1,300,000 FEDERAL HOME LN MTG CORP COM 313400301 39,595 626,500 SH OTHER 01 626,500 FREEPORT-MCMORAN COPPER & CL B 35671D857 40,264 1,016,500 SH OTHER 01 1,016,500 FTD GROUP INC COM 30267U108 12,101 998,400 SH OTHER 01 998,400 GARTNER INC CL B 366651206 1,980 211,712 SH OTHER 01 211,712 GMH CMNTYS TR COM 36188G102 18,624 1,590,400 SH OTHER 01 1,590,400 GOLF TR AMER INC COM 38168B103 213 112,200 SH OTHER 01 112,200 GRAMERCY CAP CORP COM 384871109 7,925 406,400 SH OTHER 01 406,400 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 60,876 1,035,300 SH OTHER 01 1,035,300 GUIDANT CORP COM 401698105 329,986 4,465,300 SH OTHER 01 4,465,300 HAYES LEMMERZ INTL INC COM NEW 420781304 4,116 791,500 SH OTHER 01 791,500 HOMEBANC CORP GA COM 43738R109 7,877 891,100 SH OTHER 01 891,100 ITT EDUCATIONAL SERVICES INC COM 45068B109 22,237 458,500 SH OTHER 01 458,500 JUNIPER NETWORKS INC. COM 48203R104 8,763 397,224 SH OTHER 01 397,224 KNOLOGY INC COM 499183804 194 81,680 SH OTHER 01 81,680 LECG CORP COM 523234102 2,278 116,203 SH OTHER 01 116,203 LIBERTY MEDIA CORP NEW COM SER A 530718105 40,326 3,888,700 SH OTHER 01 3,888,700 LSI LOGIC CORP NOTE 4.000%11/0 502161AG7 9,584 9,900,000 PRN OTHER 01 9,900,000 MACQUARIE INFRASTRUCTURE CO SH BEN INT 55607X108 5,600 200,000 SH OTHER 01 200,000 MAGNA ENTMT CORP CL A 559211107 14,273 2,324,602 SH OTHER 01 2,324,602 MANDALAY RESORT GROUP COM 562567107 114,053 1,618,000 SH OTHER 01 1,618,000 MENTOR GRAPHICS CORP NOTE 6.875% 6/1 587200AB2 1,025 1,000,000 PRN OTHER 01 1,000,000 MI DEVS INC CL A SUB VTG 55304X104 21,390 673,700 SH OTHER 01 673,700 MICROSOFT CORP COM 594918104 13,637 564,200 SH OTHER 01 564,200 MTR GAMING GROUP INC COM 553769100 17,097 1,378,780 SH OTHER 01 1,378,780 NEWS CORP CL A 65248E104 105,165 6,215,400 SH OTHER 01 6,215,400 NEXTEL COMMUNICATIONS INC CL A 65332V103 24,455 860,500 SH OTHER 01 860,500 NEXTEL PARTNERS INC CL A 65333F107 3,477 158,600 SH OTHER 01 158,600 NGP CAP RES CO COM 62912R107 1,608 100,000 SH OTHER 01 100,000 NINETOWNS DIGI WRLD TRADE HL SPONSORED ADR 654407105 4,082 450,000 SH OTHER 01 450,000 NRG ENERGY INC COM NEW 629377508 973 28,500 SH OTHER 01 28,500 NTL INC DEL COM 62940M104 7,131 112,000 SH OTHER 01 112,000 OLD REP INTL CORP COM 680223104 9,684 415,800 SH OTHER 01 415,800 PG & E CORP COM 69331c108 97,560 2,860,997 SH OTHER 01 2,860,997 PHARMACYCLICS INC COM 716933106 14,378 1,790,500 SH OTHER 01 1,790,500 PHH CORP COM NEW 693320202 46,570 2,129,400 SH OTHER 01 2,129,400 PLATINUM UNDERWRITER HLDGS L COM G7127P100 47,321 1,593,300 SH OTHER 01 1,593,300 PT INDOSAT TBK SPONSORED ADR 744383100 10,676 413,000 SH OTHER 01 413,000 QUANTUM CORP COM DSSG 747906204 637 218,800 SH OTHER 01 218,800 RETEK INC COM 76128Q109 37,363 3,330,000 SH OTHER 01 3,330,000 SAPPI LTD SPON ADR NEW 803069202 17,528 1,425,000 SH OTHER 01 1,425,000 SAXON CAP INC NEW COM 80556T106 415 24,100 SH OTHER 01 24,100 SEALED AIR CORP NEW COM 81211K100 62,328 1,200,000 SH OTHER 01 1,200,000 SINA CORP NOTE 7/1 82922RAB9 94,177 67,000,000 PRN OTHER 01 67,000,000 SOHU COM INC COM 83408W103 9,809 557,952 SH OTHER 01 557,952 SPIRIT FIN CORP COM 848568309 22,806 2,100,000 SH OTHER 01 2,100,000 SPRINT CORP COM FON 852061100 20,134 885,000 SH OTHER 01 885,000 STATE STR CORP COM 857477103 12,613 288,500 SH OTHER 01 288,500 SUNGARD DATA SYS INC COM 867363103 118,356 3,430,600 SH OTHER 01 3,430,600 SYMANTEC CORP COM 871503108 10,665 500,000 SH OTHER 01 500,000 SYNOPSYS INC COM 871607107 1,810 100,000 SH OTHER 01 100,000 TELE CENTRO OESTE CELULAR S SPON ADR PFD 87923P105 4,716 475,900 SH OTHER 01 475,900 TELEMIG CELULAR PART S A SPON ADR PFD 87944E105 4,429 153,000 SH OTHER 01 153,000 TELEWEST GLOBAL INC COM 87956T107 5,337 300,000 SH OTHER 01 300,000 TELIK INC COM 87959M109 25,036 1,660,200 SH OTHER 01 1,660,200 TV AZTECA S A DE C V SPONSORED ADR 901145102 25,344 2,929,900 SH OTHER 01 2,929,900 VALOR COMMUNICATIONS GROUP I COM 920255106 8,983 620,800 SH OTHER 01 620,800 VERITAS SOFTWARE CO COM 923436109 8,127 350,000 SH OTHER 01 350,000 VIROLOGIC INC COM 92823R201 4,807 2,011,165 SH OTHER 01 2,011,165 VISX INC DEL COM 92844S105 29,127 1,242,600 SH OTHER 01 1,242,600 WAL MART STORES INC COM 931142103 72,660 1,450,000 SH OTHER 01 1,450,000 WASTE MGMT INC DEL COM 94106L109 6,702 232,300 SH OTHER 01 232,300 WELLPOINT INC COM 94973V107 153,855 1,227,400 SH OTHER 01 1,227,400 WILLIAMS COS INC DEL COM 969457100 32,998 1,754,300 SH OTHER 01 1,754,300