ExodusPoint Capital Management Portfolio holdings
ExodusPoint Capital Management is a multi-manager investment firm: it hands money to teams of portfolio managers who each run their own strategy, and it moves capital between them. Michael Gelband, its chief executive and chief investment officer, started the firm in 2017 with Hyung Soon Lee after serving as global head of fixed income at Millennium Management. Those managers trade fixed income, credit, event-driven, fundamental long/short equity, global macro and computer-model strategies. Its investors include high net worth individuals, family offices, endowments and foundations.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$614M |
| 2 |
Apple
AAPL
|
+$443M |
| 3 |
TopBuild
BLD
|
+$391M |
| 4 |
SpaceX
SPCX
|
+$329M |
| 5 |
Penumbra
PEN
|
+$203M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$1.96B |
| 2 |
NVIDIA
NVDA
|
+$425M |
| 3 |
Sandisk
SNDK
|
+$88M |
| 4 |
Southern Company
SO
|
+$80.6M |
| 5 |
PPL Corp
PPL
|
+$74.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 31.55% |
| 2 | Technology | 16.38% |
| 3 | Industrials | 13.68% |
| 4 | Consumer Discretionary | 9.42% |
| 5 | Healthcare | 7.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$455B
| $711M | 4.58% |
964,900
+787,500
| +444% | +$542M |
2020 Q3
23 quarters
|
|
|
2
Amazon
AMZN
$2.92T
| $655M | 4.22% |
2,747,253
+2,447,812
| +817% | +$614M |
2025 Q1
5 quarters
|
|
3
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$48.4B
| $623M | 4.01% |
7,215,000
+7,065,000
| +4,710% | +$607M |
2026 Q1
1 quarter
|
|
|
4
PUT
Amazon
AMZN
$2.92T
| $548M | 3.53% |
2,300,000
+2,282,500
| +13,043% | +$573M |
2025 Q3
3 quarters
|
|
|
5
Apple
AAPL
$5.06T
| $493M | 3.18% |
1,705,273
+1,547,851
| +983% | +$443M |
2025 Q3
3 quarters
|
|
|
6
PUT
Apple
AAPL
$5.06T
| $434M | 2.79% |
+1,500,000
| New | +$429M |
2026 Q2
0 quarters
|
|
|
7
Penumbra
PEN
$12.6B
| $344M | 2.22% |
1,090,430
+625,215
| +134% | +$203M |
2025 Q4
2 quarters
|
|
|
8
DELISTED
TopBuild
BLD
| $342M | 2.2% |
965,007
+948,329
| +5,686% | +$391M |
2026 Q1
1 quarter
|
|
|
9
SpaceX
SPCX
$1.91T
| $331M | 2.13% |
+1,938,935
| New | +$329M |
2026 Q2
0 quarters
|
|
|
10
NVIDIA
NVDA
$4.07T
| $275M | 1.77% |
1,376,535
-2,065,103
| -60% | -$425M |
2025 Q3
3 quarters
|
|
|
11
CALL
Invesco QQQ Trust
QQQ
$455B
| $258M | 1.66% |
+350,000
| New | +$241M |
2026 Q2
0 quarters
|
|
12
CALL
VanEck Semiconductor ETF
SMH
$62.1B
| $223M | 1.44% |
340,000
+338,500
| +22,567% | +$185M |
2026 Q1
1 quarter
|
|
|
13
PUT
NVIDIA
NVDA
$4.07T
| $180M | 1.16% |
900,000
-2,300,000
| -72% | -$473M |
2025 Q4
2 quarters
|
|
|
14
CALL
NVIDIA
NVDA
$4.07T
| $125M | 0.81% |
625,500
+318,500
| +104% | +$65.5M |
2025 Q2
4 quarters
|
|
15
CALL
Advanced Micro Devices
AMD
$841B
| $125M | 0.8% |
215,000
+175,400
| +443% | +$71.9M |
2025 Q2
4 quarters
|
|
16
PUT
Shopify
SHOP
$185B
| $114M | 0.74% |
+1,000,000
| New | +$114M |
2026 Q2
0 quarters
|
|
|
17
Shopify
SHOP
$185B
| $112M | 0.72% |
+976,571
| New | +$111M |
2026 Q2
0 quarters
|
|
18
CALL
iShares MSCI Emerging Markets ETF
EEM
$28B
| $103M | 0.66% |
1,500,000
-7,510,000
| -83% | -$491M |
2026 Q1
1 quarter
|
|
19
Ameren
AEE
$31.5B
| $86.4M | 0.56% |
764,637
-66,947
| -8% | -$7.4M |
2025 Q1
5 quarters
|
|
20
Microsoft
MSFT
$3.96T
| $86.3M | 0.56% |
231,231
+158,050
| +216% | +$63.9M |
2025 Q3
3 quarters
|
|
21
O'Reilly Automotive
ORLY
$72.1B
| $78M | 0.5% |
846,758
+797,100
| +1,605% | +$72.7M |
2024 Q4
6 quarters
|
|
22
Norfolk Southern
NSC
$73.5B
| $76.9M | 0.5% |
244,499
+84,542
| +53% | +$26.1M |
2025 Q3
3 quarters
|
|
23
Xcel Energy
XEL
$51.5B
| $76.3M | 0.49% |
949,886
-44,224
| -4% | -$3.53M |
2023 Q4
10 quarters
|
|
24
Otis Worldwide
OTIS
$29.9B
| $75.6M | 0.49% |
1,055,862
+289,183
| +38% | +$21.6M |
2025 Q2
4 quarters
|
|
25
PUT
Intel
INTC
$306B
| $72.6M | 0.47% |
+520,000
| New | +$52.6M |
2026 Q2
0 quarters
|
|
Similar funds
ExodusPoint Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, ExodusPoint Capital Management held 2,230 positions worth $15.5B, up 23% from $12.6B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
ExodusPoint Capital Management's Q2 2026 filing shows 735 new, 384 increased, 378 reduced and 720 closed positions. Its largest new stake was SpaceX: 1,938,935 shares worth $331M. The largest sale was Tesla, an estimated $1.96B.
By sector, the portfolio is most concentrated in Miscellaneous at 32% of assets, up from 21% a quarter earlier, followed by Technology and Industrials.
- ExodusPoint Capital Management's largest Q2 2026 buy was SpaceX: 1,938,935 shares worth $331M.
- ExodusPoint Capital Management added most to Amazon in Q2 2026, an estimated $614M increase.
- ExodusPoint Capital Management's biggest Q2 2026 reduction was Tesla, cutting an estimated $1.96B.
- ExodusPoint Capital Management fully exited Southern Company in Q2 2026, selling an estimated $80.6M.
- ExodusPoint Capital Management's ten largest holdings make up 31% of its $15.5B portfolio in Q2 2026.
- ExodusPoint Capital Management opened 735 new positions and closed 720 in Q2 2026.
- ExodusPoint Capital Management's portfolio value rose 23% quarter-over-quarter to $15.5B.
Based on ExodusPoint Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.