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 |
Ameren
AEE
|
+$161M |
| 2 |
Entergy
ETR
|
+$126M |
| 3 |
Danaher
DHR
|
+$124M |
| 4 |
Cooper Companies
COO
|
+$65.6M |
| 5 |
PPL
PPL Corp
PPL
|
+$61.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$419M |
| 2 |
CMS Energy
CMS
|
+$170M |
| 3 |
Duke Energy
DUK
|
+$164M |
| 4 |
Citigroup
C
|
+$124M |
| 5 |
Chevron
CVX
|
+$108M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.02% |
| 2 | Utilities | 9.78% |
| 3 | Financials | 9.29% |
| 4 | Technology | 8.37% |
| 5 | Consumer Discretionary | 8.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
Antero Resources
AR
$11.7B
| $2.15M | 0.02% |
+53,062
| New | +$2.04M |
|
677
Ardelyx
ARDX
$1B
| $2.14M | 0.02% |
+436,131
| New | +$2.34M |
|
678
First Majestic Silver
AG
$10.4B
| $2.14M | 0.02% |
+319,915
| New | +$1.91M |
|
679
Central Pacific Financial
CPF
$964M
| $2.14M | 0.02% |
79,017
-198,647
| -72% | -$5.6M |
|
680
Columbia Banking Systems
COLB
$8.72B
| $2.14M | 0.02% |
+85,654
| New | +$2.28M |
|
681
Corteva
CTVA
$54.6B
| $2.13M | 0.02% |
+33,864
| New | +$2.09M |
|
682
Timken Company
TKR
$8.67B
| $2.11M | 0.02% |
+29,380
| New | +$2.27M |
|
683
TransUnion
TRU
$16.2B
| $2.11M | 0.02% |
+25,380
| New | +$2.32M |
|
684
NewMarket
NEU
$8.62B
| $2.08M | 0.02% |
+3,672
| New | +$1.94M |
|
|
AGNT
685
AGNT Inc
AGNT
$764M
| $2.07M | 0.02% |
+211,690
| New | +$2.25M |
|
686
Scholastic
SCHL
$757M
| $2.05M | 0.02% |
+108,344
| New | +$2.17M |
|
687
iShares Russell 2000 ETF
IWM
$81.9B
| $2.04M | 0.02% |
+10,252
| New | +$2.22M |
|
|
CLBR
688
DELISTED
Colombier Acquisition Corp II
CLBR
| $2.04M | 0.02% |
191,075
-11,904
| -6% | -$129K |
|
689
SentinelOne
S
$7.26B
| $2.03M | 0.02% |
111,868
-101,324
| -48% | -$2.2M |
|
690
Lakeland Financial Corp
LKFN
$1.5B
| $2.03M | 0.02% |
+34,203
| New | +$2.24M |
|
691
First Commonwealth Financial
FCF
$2.13B
| $2.03M | 0.02% |
130,709
-38,485
| -23% | -$625K |
|
692
OR Royalties Inc
OR
$6.76B
| $2.03M | 0.02% |
96,000
+78,572
| +451% | +$1.51M |
|
693
Sunrun
RUN
$2.21B
| $2.01M | 0.02% |
343,156
+196,341
| +134% | +$1.62M |
|
694
Canadian Natural Resources
CNQ
$106B
| $2.01M | 0.02% |
65,200
+40,100
| +160% | +$1.22M |
|
|
IAS
695
DELISTED
Integral Ad Science
IAS
| $1.99M | 0.02% |
+246,590
| New | +$2.46M |
|
696
Trinity Capital Inc
TRIN
$1.74B
| $1.98M | 0.02% |
130,801
+38,363
| +42% | +$596K |
|
697
N-able
NABL
$686M
| $1.98M | 0.02% |
+279,437
| New | +$2.49M |
|
698
Rambus
RMBS
$9.9B
| $1.98M | 0.02% |
+38,249
| New | +$2.25M |
|
|
TWO
699
Two Harbors Investment
TWO
$1.27B
| $1.98M | 0.02% |
+147,930
| New | +$1.92M |
|
700
Patterson-UTI
PTEN
$4.71B
| $1.97M | 0.02% |
239,983
-271,748
| -53% | -$2.28M |
|
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Michael Gelband's Q1 2025 Portfolio in Review
As of Q1 2025, Michael Gelband held 2,114 positions worth $10.1B, down 31% from $14.6B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Michael Gelband withdrew a net $3.98B in Q1 2025, closing 725 positions and reducing 350 holdings. Its most notable exit was CMS Energy, an estimated $170M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 13% of assets, up from 8% a quarter earlier, followed by Utilities and Financials.
Against the trend, Michael Gelband opened a new position in Ameren worth $168M.
- Michael Gelband's largest Q1 2025 buy was Ameren: 1,668,398 shares worth $168M.
- Michael Gelband added most to Danaher in Q1 2025, an estimated $124M increase.
- Michael Gelband's biggest Q1 2025 reduction was NVIDIA, cutting an estimated $419M.
- Michael Gelband fully exited CMS Energy in Q1 2025, selling an estimated $170M.
- Michael Gelband's ten largest holdings make up 26% of its $10.1B portfolio in Q1 2025.
- Michael Gelband opened 677 new positions and closed 725 in Q1 2025.
- Michael Gelband's portfolio value fell 31% quarter-over-quarter to $10.1B.
Based on ExodusPoint Capital Management's 13F filing for Q1 2025, filed 14 May 2025.