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 SPDR S&P 500 ETF Trust
SPY
|
+$359M |
| 2 |
Ameren
AEE
|
+$68.9M |
| 3 |
CMS Energy
CMS
|
+$36.8M |
| 4 |
PayPal
PYPL
|
+$35.6M |
| 5 |
Entergy
ETR
|
+$31.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aramark
ARMK
|
+$150M |
| 2 |
Las Vegas Sands
LVS
|
+$62.2M |
| 3 |
American Electric Power
AEP
|
+$36.3M |
| 4 |
Oracle
ORCL
|
+$30.2M |
| 5 |
Apple
AAPL
|
+$27.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 13.47% |
| 2 | Technology | 10.64% |
| 3 | Financials | 6.44% |
| 4 | Consumer Discretionary | 5.14% |
| 5 | Consumer Staples | 4.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
751
UGI
UGI
$8.19B
| $625K | 0.01% |
+13,831
| New | +$634K |
|
752
Tencent Music
TME
$14.2B
| $624K | 0.01% |
+53,160
| New | +$683K |
|
|
IPHI
753
DELISTED
INPHI CORPORATION
IPHI
| $619K | 0.01% |
+8,356
| New | +$574K |
|
754
BorgWarner
BWA
$13.1B
| $618K | 0.01% |
+16,185
| New | +$593K |
|
755
Exicure
XCUR
$7.53M
| $618K | 0.01% |
1,440
+1,272
| +757% | +$520K |
|
756
Cousins Properties
CUZ
$4.94B
| $616K | 0.01% |
+14,951
| New | +$588K |
|
757
Banco de Chile
BCH
$21.7B
| $615K | 0.01% |
+29,300
| New | +$713K |
|
|
SYNH
758
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $615K | 0.01% |
+10,339
| New | +$556K |
|
759
Ovid Therapeutics
OVID
$551M
| $613K | 0.01% |
+147,740
| New | +$467K |
|
|
TPIC
760
DELISTED
TPI Composites
TPIC
| $609K | 0.01% |
+32,917
| New | +$604K |
|
761
Universal Technical Institute
UTI
$1.21B
| $608K | 0.01% |
78,802
+67,902
| +623% | +$409K |
|
|
TRST
762
Trustco Bank Corp NY
TRST
$974M
| $607K | 0.01% |
+14,014
| New | +$600K |
|
|
AMWD
763
DELISTED
American Woodmark
AMWD
| $605K | 0.01% |
+5,790
| New | +$582K |
|
764
Veru
VERU
$44.2M
| $605K | 0.01% |
18,060
+15,630
| +643% | +$349K |
|
765
AdaptHealth
AHCO
$751M
| $603K | 0.01% |
+54,942
| New | +$546K |
|
766
Encore Capital Group
ECPG
$2.19B
| $603K | 0.01% |
+17,042
| New | +$596K |
|
767
Kratos Defense & Security Solutions
KTOS
$9.96B
| $603K | 0.01% |
+33,503
| New | +$621K |
|
768
Federated Hermes
FHI
$4.83B
| $600K | 0.01% |
+18,412
| New | +$601K |
|
769
Toro Company
TTC
$9.47B
| $600K | 0.01% |
+7,525
| New | +$576K |
|
|
DO
770
DELISTED
Diamond Offshore Drilling
DO
| $600K | 0.01% |
83,459
-140,246
| -63% | -$815K |
|
771
Forward Air
FWRD
$594M
| $599K | 0.01% |
+8,569
| New | +$581K |
|
|
PRSP
772
DELISTED
Perspecta Inc. Common Stock
PRSP
| $597K | 0.01% |
22,582
+6,968
| +45% | +$186K |
|
773
Interactive Brokers
IBKR
$42.2B
| $596K | 0.01% |
+51,128
| New | +$600K |
|
774
Lazard
LAZ
$4.29B
| $596K | 0.01% |
+14,915
| New | +$563K |
|
775
ArcelorMittal
MT
$54.8B
| $596K | 0.01% |
33,989
-323,257
| -90% | -$5.24M |
|
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Michael Gelband's Q4 2019 Portfolio in Review
As of Q4 2019, Michael Gelband held 2,083 positions worth $5.33B, up 86% from $2.86B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Michael Gelband deployed $2.23B of net new capital in Q4 2019, opening 789 new positions and adding to 411 existing holdings. Its largest new stake was PayPal: 341,834 shares worth $37M.
By sector, the portfolio is most concentrated in Utilities at 13% of assets, down from 16% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was Aramark, an estimated $150M trimmed.
- Michael Gelband's largest Q4 2019 buy was PayPal: 341,834 shares worth $37M.
- Michael Gelband added most to State Street SPDR S&P 500 ETF Trust in Q4 2019, an estimated $359M increase.
- Michael Gelband's biggest Q4 2019 reduction was Aramark, cutting an estimated $150M.
- Michael Gelband fully exited Las Vegas Sands in Q4 2019, selling an estimated $62.2M.
- Michael Gelband's ten largest holdings make up 42% of its $5.33B portfolio in Q4 2019.
- Michael Gelband opened 789 new positions and closed 597 in Q4 2019.
- Michael Gelband's portfolio value rose 86% quarter-over-quarter to $5.33B.
Based on ExodusPoint Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.