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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
+11.78%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$9.79B
AUM Growth
-$1.62B
Cap. Flow
-$2.29B
Cap. Flow %
-23.44%
Top 10 Hldgs %
25.19%
Holding
2,139
New
733
Increased
336
Reduced
386
Closed
673

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$272M
2
META icon
Meta Platforms (Facebook)
META
+$79.7M
3
NVDA icon
NVIDIA
NVDA
+$74.6M
4
PG icon
Procter & Gamble
PG
+$60.5M
5
MSFT icon
Microsoft
MSFT
+$58.1M

Top Sells

Rank Stock Value
1
PARA
Paramount Global Class B
PARA
+$158M
2
PPL
PPL Corp
PPL
+$113M
3
SO icon
Southern Company
SO
+$111M
4
DHR icon
Danaher
DHR
+$106M
5
ETR icon
Entergy
ETR
+$84.5M

Sector Composition

Rank Sector Weight
1 Technology 14.92%
2 Industrials 9.39%
3 Financials 9.29%
4 Consumer Discretionary 7.56%
5 Utilities 6.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PCG icon
276
CALL
PG&E
PCG
$38.8B
$7.54M 0.08%
+500,000
New +$7.29M
RY icon
277
Royal Bank of Canada
RY
$285B
$7.5M 0.08%
+50,909
New +$7.02M
ALKS icon
278
Alkermes
ALKS
$8.11B
$7.49M 0.08%
249,727
+88,341
+55% +$2.49M
TROW icon
279
T. Rowe Price
TROW
$23.8B
$7.49M 0.08%
+72,926
New +$7.66M
IQV icon
280
IQVIA
IQV
$42.8B
$7.45M 0.08%
+39,235
New +$7.13M
LSTR icon
281
Landstar System
LSTR
$6.33B
$7.44M 0.08%
+60,714
New +$8.06M
AMRX icon
282
Amneal Pharmaceuticals
AMRX
$6.24B
$7.44M 0.08%
742,813
+211,032
+40% +$1.89M
KFY icon
283
Korn Ferry
KFY
$4.37B
$7.42M 0.08%
+105,961
New +$7.73M
EXTR icon
284
Extreme Networks
EXTR
$3B
$7.41M 0.08%
359,076
+99,466
+38% +$1.98M
ARMK icon
285
Aramark
ARMK
$15.8B
$7.28M 0.07%
+189,659
New +$7.68M
FLG
286
CALL
Flagstar Bank National Association
FLG
$5.59B
$7.28M 0.07%
630,000
-180,000
-22% -$2.14M
SPOT icon
287
Spotify
SPOT
$110B
$7.25M 0.07%
+10,385
New +$7.26M
BROS icon
288
Dutch Bros
BROS
$6.88B
$7.23M 0.07%
138,176
+43,570
+46% +$2.75M
SKT icon
289
Tanger
SKT
$4.39B
$7.23M 0.07%
213,561
+192,683
+923% +$6.28M
XYZ
290
Block Inc
XYZ
$49.4B
$7.23M 0.07%
99,980
-75,060
-43% -$5.62M
UNH icon
291
UnitedHealth
UNH
$350B
$7.18M 0.07%
20,796
+15,606
+301% +$4.72M
ESTC icon
292
Elastic
ESTC
$8.93B
$7.15M 0.07%
84,663
-8,542
-9% -$719K
DCI icon
293
Donaldson
DCI
$10.8B
$7.12M 0.07%
86,975
-72,770
-46% -$5.49M
HXL icon
294
Hexcel
HXL
$7.1B
$7.07M 0.07%
+112,812
New +$6.93M
HD icon
295
Home Depot
HD
$335B
$7.07M 0.07%
+17,444
New +$6.86M
DRS icon
296
Leonardo DRS
DRS
$10.9B
$7.06M 0.07%
155,579
+133,756
+613% +$5.83M
CAG icon
297
Conagra Brands
CAG
$7.89B
$7.01M 0.07%
+382,670
New +$7.34M
JD icon
298
CALL
JD.com
JD
$39.7B
$7M 0.07%
+200,000
New +$6.51M
FND icon
299
Floor & Decor
FND
$5.78B
$7M 0.07%
+94,921
New +$7.78M
BAX icon
300
Baxter International
BAX
$13.6B
$6.93M 0.07%
304,289
+160,273
+111% +$4.06M
10 11
12
13 14

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Michael Gelband's Q3 2025 Portfolio in Review

As of Q3 2025, Michael Gelband held 2,139 positions worth $9.79B, down 14% from $11.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Michael Gelband withdrew a net $2.29B in Q3 2025, closing 673 positions and reducing 386 holdings. Its most notable exit was Paramount Global Class B, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Technology at 15% of assets, up from 7.6% a quarter earlier, followed by Industrials and Financials.

Against the trend, Michael Gelband opened a new position in Apple worth $306M.

  • Michael Gelband's largest Q3 2025 buy was Apple: 1,202,327 shares worth $306M.
  • Michael Gelband added most to Procter & Gamble in Q3 2025, an estimated $60.5M increase.
  • Michael Gelband's biggest Q3 2025 reduction was PPL Corp, cutting an estimated $113M.
  • Michael Gelband fully exited Paramount Global Class B in Q3 2025, selling an estimated $158M.
  • Michael Gelband's ten largest holdings make up 25% of its $9.79B portfolio in Q3 2025.
  • Michael Gelband opened 733 new positions and closed 673 in Q3 2025.
  • Michael Gelband's portfolio value fell 14% quarter-over-quarter to $9.79B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.