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 | |
|---|---|---|---|---|---|---|
|
SINA
676
DELISTED
Sina Corp
SINA
| $481K | 0.02% |
+12,263
| New | +$500K |
|
677
Keysight
KEYS
$52.9B
| $480K | 0.02% |
+4,932
| New | +$457K |
|
678
Trinity Industries
TRN
$2.37B
| $479K | 0.02% |
+24,343
| New | +$460K |
|
|
EVRI
679
DELISTED
Everi Holdings
EVRI
| $478K | 0.02% |
56,518
+42,039
| +290% | +$430K |
|
|
QTS
680
DELISTED
QTS REALTY TRUST, INC.
QTS
| $478K | 0.02% |
+9,300
| New | +$442K |
|
|
TGI
681
DELISTED
Triumph Group
TGI
| $477K | 0.02% |
+20,845
| New | +$477K |
|
682
Palomar
PLMR
$3.5B
| $476K | 0.02% |
+12,084
| New | +$377K |
|
683
Fox Class A
FOXA
$29B
| $472K | 0.02% |
+14,977
| New | +$518K |
|
684
Macerich
MAC
$6.91B
| $471K | 0.02% |
14,908
-5,264
| -26% | -$166K |
|
685
Boyd Gaming
BYD
$5.89B
| $470K | 0.02% |
19,641
+6,177
| +46% | +$156K |
|
686
Thermo Fisher Scientific
TMO
$232B
| $470K | 0.02% |
1,613
-31,329
| -95% | -$8.97M |
|
687
East-West Bancorp
EWBC
$17.7B
| $468K | 0.02% |
+10,559
| New | +$464K |
|
688
Quaker Houghton
KWR
$2.79B
| $468K | 0.02% |
+2,960
| New | +$507K |
|
689
Xylem
XYL
$26.7B
| $468K | 0.02% |
+5,875
| New | +$462K |
|
690
CNA Financial
CNA
$13.4B
| $467K | 0.02% |
+9,484
| New | +$454K |
|
691
AAR Corp
AIR
$5.42B
| $466K | 0.02% |
11,300
-1,600
| -12% | -$67.2K |
|
692
Carnival Corporation Ltd
CCL
$35.2B
| $466K | 0.02% |
10,663
+1,563
| +17% | +$72.1K |
|
693
Essex Property Trust
ESS
$18.9B
| $465K | 0.02% |
+1,425
| New | +$445K |
|
|
SHYF
694
DELISTED
The Shyft Group
SHYF
| $465K | 0.02% |
+33,896
| New | +$413K |
|
695
Tradeweb Markets
TW
$22.9B
| $465K | 0.02% |
12,579
-163,196
| -93% | -$7.21M |
|
|
CADE
696
DELISTED
Cadence Bank
CADE
| $464K | 0.02% |
+15,677
| New | +$447K |
|
697
Scholastic
SCHL
$760M
| $463K | 0.02% |
+12,267
| New | +$431K |
|
|
PS
698
DELISTED
Pluralsight, Inc. Class A Common Stock
PS
| $463K | 0.02% |
27,540
-70,234
| -72% | -$1.51M |
|
699
HEICO Corp
HEI
$49.3B
| $462K | 0.02% |
+3,700
| New | +$506K |
|
700
Evergy
EVRG
$18.8B
| $459K | 0.02% |
6,900
-86,636
| -93% | -$5.48M |
|
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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.