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 |
PARA
Paramount Global Class B
PARA
|
+$75M |
| 2 |
Chevron
CVX
|
+$59.9M |
| 3 |
GE HealthCare
GEHC
|
+$57.5M |
| 4 |
Applovin
APP
|
+$54.7M |
| 5 |
OKLO
Oklo
OKLO
|
+$52.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Xcel Energy
XEL
|
+$137M |
| 2 |
Meta Platforms (Facebook)
META
|
+$61.8M |
| 3 |
Becton Dickinson
BDX
|
+$59.9M |
| 4 |
CRWV
CoreWeave
CRWV
|
+$57.1M |
| 5 |
Apple
AAPL
|
+$50.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 11.73% |
| 2 | Financials | 9.81% |
| 3 | Utilities | 8.63% |
| 4 | Technology | 7.6% |
| 5 | Industrials | 7.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TACOU
651
Berto Acquisition Corp Unit
TACOU
| $2.58M | 0.02% |
+240,494
| New | +$2.52M |
|
652
Northern Trust
NTRS
$34.2B
| $2.57M | 0.02% |
+20,259
| New | +$2.07M |
|
653
Centuri Holdings
CTRI
$2.1B
| $2.57M | 0.02% |
+114,449
| New | +$2.24M |
|
|
654
Xcel Energy
XEL
$48.3B
| $2.56M | 0.02% |
37,651
-1,980,927
| -98% | -$137M |
|
|
MAG
655
DELISTED
MAG Silver
MAG
| $2.55M | 0.02% |
+120,596
| New | +$2.14M |
|
656
Sunstone Hotel Investors
SHO
$2.1B
| $2.5M | 0.02% |
+288,331
| New | +$2.49M |
|
657
NETGEAR
NTGR
$563M
| $2.5M | 0.02% |
+86,071
| New | +$2.31M |
|
|
GTY
658
Getty Realty Corp
GTY
$2.07B
| $2.49M | 0.02% |
90,091
-47,692
| -35% | -$1.37M |
|
|
JBS
659
JBS N.V.
JBS
$45.7B
| $2.48M | 0.02% |
+170,000
| New | +$2.39M |
|
660
Cenovus Energy
CVE
$59.3B
| $2.48M | 0.02% |
+182,440
| New | +$2.37M |
|
|
BPMC
661
DELISTED
Blueprint Medicines
BPMC
| $2.48M | 0.02% |
+19,351
| New | +$2.01M |
|
662
CDW
CDW
$16.6B
| $2.47M | 0.02% |
13,854
-51,376
| -79% | -$8.73M |
|
663
Winnebago Industries
WGO
$909M
| $2.47M | 0.02% |
85,311
+4,958
| +6% | +$163K |
|
664
Power Integrations
POWI
$2.97B
| $2.47M | 0.02% |
44,125
+21,542
| +95% | +$1.11M |
|
665
Blend Labs
BLND
$355M
| $2.45M | 0.02% |
743,206
+585,934
| +373% | +$1.99M |
|
666
Central Garden & Pet Co Class A
CENTA
$2.4B
| $2.42M | 0.02% |
77,427
-18,846
| -20% | -$588K |
|
667
First Interstate BancSystem
FIBK
$3.55B
| $2.41M | 0.02% |
83,625
-255,017
| -75% | -$6.87M |
|
|
ANSS
668
DELISTED
Ansys
ANSS
| $2.41M | 0.02% |
+6,855
| New | +$2.25M |
|
|
SGI
669
Somnigroup International
SGI
$13.5B
| $2.4M | 0.02% |
35,279
+6,147
| +21% | +$387K |
|
670
WD-40
WDFC
$2.9B
| $2.4M | 0.02% |
10,524
+7,787
| +285% | +$1.83M |
|
671
Riot Platforms
RIOT
$7.51B
| $2.4M | 0.02% |
+212,037
| New | +$1.8M |
|
672
Gray Television
GTN
$507M
| $2.39M | 0.02% |
+528,540
| New | +$2.05M |
|
673
Honeywell
HON
$68.1B
| $2.39M | 0.02% |
+10,891
| New | +$2.2M |
|
674
Host Hotels & Resorts
HST
$15.9B
| $2.39M | 0.02% |
+155,600
| New | +$2.3M |
|
675
Principal Financial Group
PFG
$24B
| $2.39M | 0.02% |
30,063
-36,042
| -55% | -$2.77M |
|
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Michael Gelband's Q2 2025 Portfolio in Review
As of Q2 2025, Michael Gelband held 2,093 positions worth $11.4B, up 13% from $10.1B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Michael Gelband deployed $528M of net new capital in Q2 2025, opening 704 new positions and adding to 330 existing holdings. Its largest new stake was Chevron: 424,949 shares worth $60.8M.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, down from 13% a quarter earlier, followed by Financials and Utilities.
On the sell side, the largest reduction was Xcel Energy, an estimated $137M trimmed.
- Michael Gelband's largest Q2 2025 buy was Chevron: 424,949 shares worth $60.8M.
- Michael Gelband added most to Paramount Global Class B in Q2 2025, an estimated $75M increase.
- Michael Gelband's biggest Q2 2025 reduction was Xcel Energy, cutting an estimated $137M.
- Michael Gelband fully exited Meta Platforms (Facebook) in Q2 2025, selling an estimated $61.8M.
- Michael Gelband's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2025.
- Michael Gelband opened 704 new positions and closed 687 in Q2 2025.
- Michael Gelband's portfolio value rose 13% quarter-over-quarter to $11.4B.
Based on ExodusPoint Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.