Michael Gelband ExodusPoint Capital Management
Michael Gelband is a co-founder of ExodusPoint Capital Management, a multi-strategy hedge fund launched by veterans of larger alternative platforms. The firm pursues diversified strategies across asset classes with a focus on risk-managed absolute returns. Gelband’s firm is followed as part of the newer generation of multi-strategy complexes.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 1000 Value ETF
IWD
|
+$48M |
| 2 |
American Electric Power
AEP
|
+$40.9M |
| 3 |
Comcast
CMCSA
|
+$38.2M |
| 4 |
Entergy
ETR
|
+$30.6M |
| 5 |
State Street Technology Select Sector SPDR ETF
XLK
|
+$27.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$378M |
| 2 |
Amazon
AMZN
|
+$336M |
| 3 |
Apple
AAPL
|
+$294M |
| 4 |
Alibaba
BABA
|
+$258M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$136M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 12.92% |
| 2 | Consumer Discretionary | 8.02% |
| 3 | Utilities | 7.46% |
| 4 | Healthcare | 7.42% |
| 5 | Financials | 7.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2476
Pacific Biosciences
PACB
$420M
| – | – |
-106,454
| Closed | -$2.76M |
|
2477
Penske Automotive Group
PAG
$14.2B
| – | – |
-13,978
| Closed | -$830K |
|
2478
Patrick Industries
PATK
$2.68B
| – | – |
-8,666
| Closed | -$395K |
|
2479
Paychex
PAYX
$44.3B
| – | – |
-26,582
| Closed | -$2.48M |
|
2480
Petrobras Class A
PBR.A
$111B
| – | – |
-17,135
| Closed | -$190K |
|
2481
Pinduoduo
PDD
$126B
| – | – |
-21,477
| Closed | -$3.82M |
|
2482
CALL
Penumbra
PEN
$12.8B
| – | – |
-14,400
| Closed | -$2.52M |
|
|
2483
Penumbra
PEN
$12.8B
| – | – |
-477
| Closed | -$83K |
|
|
2484
PUT
Penumbra
PEN
$12.8B
| – | – |
-10,000
| Closed | -$1.75M |
|
2485
Pfizer
PFE
$160B
| – | – |
-222,039
| Closed | -$8.17M |
|
2486
Procter & Gamble
PG
$336B
| – | – |
-37,196
| Closed | -$5.17M |
|
2487
Progressive
PGR
$127B
| – | – |
-5,510
| Closed | -$545K |
|
|
PGRE
2488
DELISTED
Paramount Group
PGRE
| – | – |
-24,699
| Closed | -$223K |
|
2489
Parker-Hannifin
PH
$126B
| – | – |
-4,377
| Closed | -$1.19M |
|
2490
Pultegroup
PHM
$24.6B
| – | – |
-67,985
| Closed | -$2.93M |
|
2491
Impinj
PI
$5.06B
| – | – |
-10,870
| Closed | -$455K |
|
2492
Polaris
PII
$3.66B
| – | – |
-65,734
| Closed | -$6.26M |
|
2493
Prologis
PLD
$135B
| – | – |
-30,874
| Closed | -$3.08M |
|
|
PLYA
2494
DELISTED
Playa Hotels & Resorts
PLYA
| – | – |
-24,375
| Closed | -$145K |
|
2495
Plexus
PLXS
$6.4B
| – | – |
-11,126
| Closed | -$870K |
|
2496
Pinnacle West Capital
PNW
$11.8B
| – | – |
-10,500
| Closed | -$839K |
|
2497
Powell Industries
POWL
$7.2B
| – | – |
-29,355
| Closed | -$289K |
|
2498
Pilgrim's Pride
PPC
$7.68B
| – | – |
-55,789
| Closed | -$1.09M |
|
2499
Primerica
PRI
$9.1B
| – | – |
-11,792
| Closed | -$1.58M |
|
2500
Purple Innovation
PRPL
$24.1M
| – | – |
-1,217
| Closed | -$1M |
|
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Michael Gelband's Q1 2021 Portfolio in Review
As of Q1 2021, Michael Gelband held 2,871 positions worth $6.86B, down 33% from $10.3B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Michael Gelband withdrew a net $3.78B in Q1 2021, closing 811 positions and reducing 524 holdings. Its most notable exit was Alibaba, an estimated $258M position sold in full.
By sector, the portfolio is most concentrated in Technology at 13% of assets, down from 14% a quarter earlier, followed by Consumer Discretionary and Utilities.
Against the trend, Michael Gelband opened a new position in Comcast worth $39.1M.
- Michael Gelband's largest Q1 2021 buy was Comcast: 722,523 shares worth $39.1M.
- Michael Gelband added most to iShares Russell 1000 Value ETF in Q1 2021, an estimated $48M increase.
- Michael Gelband's biggest Q1 2021 reduction was Microsoft, cutting an estimated $378M.
- Michael Gelband fully exited Alibaba in Q1 2021, selling an estimated $258M.
- Michael Gelband's ten largest holdings make up 26% of its $6.86B portfolio in Q1 2021.
- Michael Gelband opened 973 new positions and closed 811 in Q1 2021.
- Michael Gelband's portfolio value fell 33% quarter-over-quarter to $6.86B.
Based on ExodusPoint Capital Management's 13F filing for Q1 2021, filed 17 May 2021.