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 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$20.8M |
| 2 |
Comcast
CMCSA
|
+$17.9M |
| 3 |
Mastercard
MA
|
+$17.9M |
| 4 |
McKesson
MCK
|
+$17.6M |
| 5 |
Reynolds Consumer Products
REYN
|
+$13.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$393M |
| 2 |
Entergy
ETR
|
+$96.9M |
| 3 |
CMS Energy
CMS
|
+$81.1M |
| 4 |
Consolidated Edison
ED
|
+$79.6M |
| 5 |
Ameren
AEE
|
+$72.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 11.65% |
| 2 | Financials | 7.8% |
| 3 | Healthcare | 7.73% |
| 4 | Consumer Discretionary | 6.21% |
| 5 | Consumer Staples | 6.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Maximus
MMS
$3.05B
| $724K | 0.04% |
+12,440
| New | +$845K |
|
377
Graphic Packaging
GPK
$3.54B
| $723K | 0.04% |
59,286
+25,219
| +74% | +$371K |
|
378
Bath & Body Works
BBWI
$3.92B
| $719K | 0.04% |
76,956
+45,725
| +146% | +$726K |
|
379
F5
FFIV
$21.8B
| $718K | 0.04% |
+6,730
| New | +$823K |
|
380
Stereotaxis
STXS
$142M
| $718K | 0.04% |
237,718
+157,101
| +195% | +$649K |
|
|
SYNH
381
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $716K | 0.04% |
18,157
+7,818
| +76% | +$457K |
|
382
IDEX
IEX
$17.3B
| $715K | 0.04% |
5,177
+2,529
| +96% | +$397K |
|
|
MPT
383
Medical Properties Trust
MPT
$2.46B
| $712K | 0.04% |
+41,191
| New | +$861K |
|
384
Stanley Black & Decker
SWK
$15.1B
| $708K | 0.04% |
7,077
+4,360
| +160% | +$623K |
|
385
JetBlue
JBLU
$1.85B
| $704K | 0.04% |
78,606
-166,527
| -68% | -$2.76M |
|
|
LTHM
386
DELISTED
Livent Corporation
LTHM
| $704K | 0.04% |
+134,002
| New | +$1.13M |
|
|
NEWR
387
DELISTED
New Relic, Inc.
NEWR
| $701K | 0.04% |
15,169
-82,733
| -85% | -$4.83M |
|
388
Alcon
ALC
$35.6B
| $697K | 0.04% |
13,710
+7,690
| +128% | +$442K |
|
389
United Airlines
UAL
$36.7B
| $695K | 0.04% |
22,018
-27,367
| -55% | -$1.81M |
|
390
Teleflex
TFX
$5.88B
| $691K | 0.04% |
+2,361
| New | +$824K |
|
391
Cardlytics
CDLX
$25.3M
| $687K | 0.04% |
+1,966
| New | +$1.39M |
|
392
Dynatrace
DT
$14.2B
| $685K | 0.04% |
+28,737
| New | +$828K |
|
|
GRUB
393
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $685K | 0.04% |
+8,414
| New | +$827K |
|
394
MarketAxess Holdings
MKTX
$5.71B
| $684K | 0.04% |
+2,057
| New | +$717K |
|
395
Mercury Insurance
MCY
$5.85B
| $681K | 0.04% |
16,725
+4,637
| +38% | +$212K |
|
396
Helen of Troy
HELE
$677M
| $680K | 0.04% |
4,723
+3,123
| +195% | +$529K |
|
397
Trade Desk
TTD
$6.19B
| $678K | 0.04% |
35,150
+4,790
| +16% | +$124K |
|
398
Wheaton Precious Metals
WPM
$71.7B
| $678K | 0.04% |
24,622
-54,821
| -69% | -$1.58M |
|
399
Helmerich & Payne
HP
$4.35B
| $674K | 0.04% |
43,070
-106,504
| -71% | -$3.75M |
|
400
PagerDuty
PD
$950M
| $672K | 0.04% |
38,878
-82,312
| -68% | -$1.75M |
|
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Michael Gelband's Q1 2020 Portfolio in Review
As of Q1 2020, Michael Gelband held 1,928 positions worth $1.82B, down 66% from $5.33B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Michael Gelband withdrew a net $2.93B in Q1 2020, closing 898 positions and reducing 384 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $393M position sold in full.
By sector, the portfolio is most concentrated in Technology at 12% of assets, up from 11% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Michael Gelband opened a new position in Mastercard worth $14.5M.
- Michael Gelband's largest Q1 2020 buy was Mastercard: 60,087 shares worth $14.5M.
- Michael Gelband added most to State Street Industrial Select Sector SPDR ETF in Q1 2020, an estimated $20.8M increase.
- Michael Gelband's biggest Q1 2020 reduction was Entergy, cutting an estimated $96.9M.
- Michael Gelband fully exited State Street SPDR S&P 500 ETF Trust in Q1 2020, selling an estimated $393M.
- Michael Gelband's ten largest holdings make up 32% of its $1.82B portfolio in Q1 2020.
- Michael Gelband opened 442 new positions and closed 898 in Q1 2020.
- Michael Gelband's portfolio value fell 66% quarter-over-quarter to $1.82B.
Based on ExodusPoint Capital Management's 13F filing for Q1 2020, filed 15 May 2020.