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 |
Aramark
ARMK
|
+$65.8M |
| 2 |
Las Vegas Sands
LVS
|
+$61.9M |
| 3 |
Consolidated Edison
ED
|
+$42.4M |
| 4 |
iShares MSCI USA Momentum Factor ETF
MTUM
|
+$39.1M |
| 5 |
CMS Energy
CMS
|
+$29.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$68.3M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$41.1M |
| 3 |
Pinnacle West Capital
PNW
|
+$25.6M |
| 4 |
Eversource Energy
ES
|
+$23.6M |
| 5 |
FirstEnergy
FE
|
+$15.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 15.61% |
| 2 | Technology | 12.98% |
| 3 | Industrials | 12.91% |
| 4 | Consumer Discretionary | 9.54% |
| 5 | Financials | 7.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
626
Snap-on
SNA
$20.4B
| $543K | 0.02% |
3,467
+869
| +33% | +$134K |
|
627
Diamondback Energy
FANG
$57.6B
| $542K | 0.02% |
6,029
+3,731
| +162% | +$371K |
|
|
AHT
628
Ashford Hospitality Trust
AHT
$21.5M
| $537K | 0.02% |
+164
| New | +$458K |
|
|
COWN
629
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $537K | 0.02% |
+34,900
| New | +$566K |
|
630
D.R. Horton
DHI
$41.7B
| $536K | 0.02% |
10,169
+4,269
| +72% | +$204K |
|
631
Stratasys
SSYS
$670M
| $536K | 0.02% |
+25,158
| New | +$635K |
|
632
MidCap Financial Investment
MFIC
$801M
| $534K | 0.02% |
+33,207
| New | +$543K |
|
633
Sunrun
RUN
$2.15B
| $533K | 0.02% |
+31,889
| New | +$557K |
|
|
NAV
634
DELISTED
Navistar International
NAV
| $533K | 0.02% |
18,966
+5,555
| +41% | +$158K |
|
635
MGM Resorts International
MGM
$11B
| $532K | 0.02% |
19,200
-13,258
| -41% | -$381K |
|
636
iShares Russell 2000 ETF
IWM
$81.4B
| $531K | 0.02% |
+3,509
| New | +$536K |
|
637
Fidelity National Information Services
FIS
$21.4B
| $529K | 0.02% |
+3,985
| New | +$529K |
|
638
Radware
RDWR
$1.16B
| $529K | 0.02% |
21,813
-6,872
| -24% | -$172K |
|
639
Western Alliance Bancorporation
WAL
$8.55B
| $529K | 0.02% |
11,485
+567
| +5% | +$25.6K |
|
640
Willis Towers Watson
WTW
$32.6B
| $529K | 0.02% |
+2,740
| New | +$535K |
|
641
The GEO Group
GEO
$4.24B
| $527K | 0.02% |
30,411
+17,858
| +142% | +$320K |
|
|
AEPPL
642
DELISTED
American Electric Power Company, Inc. Corporate Unit
AEPPL
| $527K | 0.02% |
+9,572
| New | +$531K |
|
643
Red Robin
RRGB
$191M
| $525K | 0.02% |
15,782
-13,118
| -45% | -$431K |
|
644
ICICI Bank
IBN
$106B
| $523K | 0.02% |
42,968
-15,481
| -26% | -$182K |
|
645
Magnachip Semiconductor
MX
$116M
| $521K | 0.02% |
51,368
-285
| -0.6% | -$3K |
|
|
ETFC
646
DELISTED
E*Trade Financial Corporation
ETFC
| $520K | 0.02% |
11,908
+2,108
| +22% | +$93.3K |
|
647
AZZ Inc
AZZ
$4.23B
| $513K | 0.02% |
+11,776
| New | +$515K |
|
648
TechTarget
TTGT
$276M
| $513K | 0.02% |
+22,780
| New | +$523K |
|
|
SNV
649
DELISTED
Synovus
SNV
| $511K | 0.02% |
+14,301
| New | +$513K |
|
|
SASR
650
DELISTED
Sandy Spring Bancorp Inc
SASR
| $510K | 0.02% |
+15,132
| New | +$525K |
|
Similar funds
Michael Gelband's Q3 2019 Portfolio in Review
As of Q3 2019, Michael Gelband held 1,809 positions worth $2.86B, up 14% from $2.51B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Michael Gelband deployed $315M of net new capital in Q3 2019, opening 745 new positions and adding to 318 existing holdings. Its largest new stake was iShares MSCI USA Momentum Factor ETF: 324,777 shares worth $38.7M.
By sector, the portfolio is most concentrated in Utilities at 16% of assets, up from 13% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $41.1M trimmed.
- Michael Gelband's largest Q3 2019 buy was iShares MSCI USA Momentum Factor ETF: 324,777 shares worth $38.7M.
- Michael Gelband added most to Aramark in Q3 2019, an estimated $65.8M increase.
- Michael Gelband's biggest Q3 2019 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $41.1M.
- Michael Gelband fully exited Altaba Inc in Q3 2019, selling an estimated $68.3M.
- Michael Gelband's ten largest holdings make up 24% of its $2.86B portfolio in Q3 2019.
- Michael Gelband opened 745 new positions and closed 516 in Q3 2019.
- Michael Gelband's portfolio value rose 14% quarter-over-quarter to $2.86B.
Based on ExodusPoint Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.