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Michael Gelband ExodusPoint Capital Management

AUM $15.5B
1-Year Est. Return 38.81%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-0.13%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$7.41B
AUM Growth
-$1.63B
Cap. Flow
-$1.27B
Cap. Flow %
-17.2%
Top 10 Hldgs %
9.76%
Holding
2,951
New
679
Increased
670
Reduced
594
Closed
919

Top Buys

Rank Stock Value
1
AMD icon
Advanced Micro Devices
AMD
+$60.6M
2
CSGP icon
CoStar Group
CSGP
+$57.8M
3
ED icon
Consolidated Edison
ED
+$52.3M
4
DE icon
Deere & Co
DE
+$44.5M
5
EXC icon
Exelon
EXC
+$42.1M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$483M
2
AMZN icon
Amazon
AMZN
+$366M
3
MRNA icon
Moderna
MRNA
+$123M
4
ETR icon
Entergy
ETR
+$44.9M
5
LIN icon
Linde
LIN
+$43.7M

Sector Composition

Rank Sector Weight
1 Technology 16.98%
2 Industrials 10.54%
3 Consumer Discretionary 9.76%
4 Financials 9.11%
5 Healthcare 7.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PAYC icon
2501
Paycom
PAYC
$10.3B
– –
-2,564
Closed -$932K
PAYO icon
2502
Payoneer
PAYO
$2.41B
– –
-286,286
Closed -$2.97M
PAYS icon
2503
Paysign
PAYS
$796M
– –
-14,283
Closed -$45K
PBF icon
2504
PBF Energy
PBF
$8.72B
– –
-420,992
Closed -$6.44M
PBW icon
2505
Invesco WilderHill Clean Energy ETF
PBW
$405M
– –
-2,799
Closed -$261K
PCB icon
2506
PCB Bancorp
PCB
$390M
– –
-32,246
Closed -$519K
PDD icon
2507
Pinduoduo
PDD
$126B
– –
-2,841
Closed -$361K
PETS icon
2508
PetMed Express
PETS
$38.2M
– –
-7,517
Closed -$239K
PGC icon
2509
Peapack-Gladstone Financial
PGC
$808M
– –
-7,101
Closed -$221K
PGNY icon
2510
Progyny
PGNY
$1.97B
– –
-33,437
Closed -$1.97M
PINE
2511
Alpine Income Property Trust
PINE
$344M
– –
-10,678
Closed -$203K
PJT icon
2512
PJT Partners
PJT
$4.47B
– –
-17,446
Closed -$1.25M
PKX icon
2513
POSCO
PKX
$17.3B
– –
-6,360
Closed -$488K
PLOW icon
2514
Douglas Dynamics
PLOW
$973M
– –
-6,069
Closed -$247K
PLRX icon
2515
Pliant Therapeutics
PLRX
$71.5M
– –
-14,499
Closed -$422K
PODD icon
2516
Insulet
PODD
$10.3B
– –
-20,614
Closed -$5.66M
POLA icon
2517
Polar Power
POLA
$5.78M
– –
-3,961
Closed -$260K
POWL icon
2518
Powell Industries
POWL
$7.2B
– –
-47,910
Closed -$494K
PPBI
2519
DELISTED
Pacific Premier Bancorp
PPBI
– –
-11,225
Closed -$475K
PPL
2520
PPL Corp
PPL
$25.9B
– –
-125,675
Closed -$3.52M
PRFZ icon
2521
Invesco FTSE RAFI US 1500 Small-Mid ETF
PRFZ
$2.87B
– –
-2,940
Closed -$110K
PRGS icon
2522
Progress Software
PRGS
$1.82B
– –
-20,520
Closed -$949K
PRI icon
2523
Primerica
PRI
$9.1B
– –
-1,424
Closed -$218K
PTCT icon
2524
PTC Therapeutics
PTCT
$5.83B
– –
-9,524
Closed -$403K
PTON icon
2525
Peloton Interactive
PTON
$2.37B
– –
-3,148
Closed -$390K
99 100
101
102 103

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Michael Gelband's Q3 2021 Portfolio in Review

As of Q3 2021, Michael Gelband held 2,951 positions worth $7.41B, down 18% from $9.04B the previous quarter. Its ten largest holdings account for 9.8% of the portfolio.

Michael Gelband withdrew a net $1.27B in Q3 2021, closing 919 positions and reducing 594 holdings. Its most notable exit was Amazon, an estimated $366M position sold in full.

By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 15% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Michael Gelband opened a new position in Advanced Micro Devices worth $61M.

  • Michael Gelband's largest Q3 2021 buy was Advanced Micro Devices: 592,990 shares worth $61M.
  • Michael Gelband added most to CoStar Group in Q3 2021, an estimated $57.8M increase.
  • Michael Gelband's biggest Q3 2021 reduction was Microsoft, cutting an estimated $483M.
  • Michael Gelband fully exited Amazon in Q3 2021, selling an estimated $366M.
  • Michael Gelband's ten largest holdings make up 9.8% of its $7.41B portfolio in Q3 2021.
  • Michael Gelband opened 679 new positions and closed 919 in Q3 2021.
  • Michael Gelband's portfolio value fell 18% quarter-over-quarter to $7.41B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.