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 | |
|---|---|---|---|---|---|---|
|
ISEE
601
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
| $358K | 0.02% |
104,111
+64,037
| +160% | +$374K |
|
|
JRO
602
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
| $353K | 0.02% |
+47,496
| New | +$433K |
|
603
SITE Centers
SITC
$161M
| $352K | 0.02% |
+86,535
| New | +$750K |
|
604
Agilent Technologies
A
$44.9B
| $351K | 0.02% |
+4,896
| New | +$393K |
|
605
Knight Transportation
KNX
$11.7B
| $349K | 0.02% |
+10,640
| New | +$376K |
|
606
Acadia Pharmaceuticals
ACAD
$5.08B
| $348K | 0.02% |
8,228
-38,553
| -82% | -$1.59M |
|
607
ABM Industries
ABM
$2.74B
| $346K | 0.02% |
+14,205
| New | +$490K |
|
608
Chipotle Mexican Grill
CMG
$46.7B
| $346K | 0.02% |
26,450
-72,750
| -73% | -$1.15M |
|
609
Bank OZK
OZK
$5.39B
| $345K | 0.02% |
+20,642
| New | +$531K |
|
|
BECN
610
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $342K | 0.02% |
+20,651
| New | +$601K |
|
611
Autohome
ATHM
$2.56B
| $339K | 0.02% |
+4,774
| New | +$377K |
|
612
Acadia Healthcare
ACHC
$2.59B
| $338K | 0.02% |
18,437
+11,958
| +185% | +$342K |
|
613
DaVita
DVA
$11.1B
| $338K | 0.02% |
4,439
-29,813
| -87% | -$2.34M |
|
614
Moody's
MCO
$87.2B
| $338K | 0.02% |
1,600
-4,741
| -75% | -$1.15M |
|
615
TC Energy
TRP
$64.6B
| $336K | 0.02% |
+7,580
| New | +$384K |
|
616
FormFactor
FORM
$8.92B
| $335K | 0.02% |
16,674
-4,052
| -20% | -$96.7K |
|
617
Guardant Health
GH
$22.9B
| $335K | 0.02% |
4,818
+1,818
| +61% | +$140K |
|
618
XPO
XPO
$23.2B
| $333K | 0.02% |
19,760
+4,071
| +26% | +$109K |
|
619
MDU Resources
MDU
$4.2B
| $332K | 0.02% |
40,666
-1,157,323
| -97% | -$12.2M |
|
620
Mercado Libre
MELI
$97.5B
| $332K | 0.02% |
+679
| New | +$419K |
|
|
IVC
621
DELISTED
Invacare Corporation
IVC
| $331K | 0.02% |
+44,599
| New | +$346K |
|
622
OraSure Technologies
OSUR
$268M
| $329K | 0.02% |
+30,600
| New | +$219K |
|
623
UMB Financial
UMBF
$11B
| $329K | 0.02% |
7,100
-12,705
| -64% | -$773K |
|
624
Wintrust Financial
WTFC
$10.3B
| $329K | 0.02% |
10,021
+4,740
| +90% | +$263K |
|
|
X
625
DELISTED
US Steel
X
| $329K | 0.02% |
52,162
-259,161
| -83% | -$2.17M |
|
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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.