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 | |
|---|---|---|---|---|---|---|
851
Gogo Inc
GOGO
$352M
| $1.45M | 0.01% |
+98,898
| New | +$1.01M |
|
852
Marriott Vacations Worldwide
VAC
$3.92B
| $1.44M | 0.01% |
19,973
+6,491
| +48% | +$410K |
|
853
iShares MSCI Brazil ETF
EWZ
$8.05B
| $1.44M | 0.01% |
+50,000
| New | +$1.35M |
|
854
Macerich
MAC
$6.9B
| $1.44M | 0.01% |
+88,720
| New | +$1.37M |
|
855
Old Republic International
ORI
$10B
| $1.44M | 0.01% |
37,333
-138,553
| -79% | -$5.21M |
|
856
Seacoast Banking Corp of Florida
SBCF
$3.31B
| $1.43M | 0.01% |
51,810
-187,804
| -78% | -$4.64M |
|
857
Verra Mobility
VRRM
$673M
| $1.42M | 0.01% |
+56,037
| New | +$1.31M |
|
858
Algonquin Power & Utilities
AQN
$4.37B
| $1.41M | 0.01% |
+246,400
| New | +$1.35M |
|
859
American Homes 4 Rent
AMH
$12.4B
| $1.41M | 0.01% |
+39,058
| New | +$1.45M |
|
860
Under Armour
UAA
$2.24B
| $1.4M | 0.01% |
205,370
-914,114
| -82% | -$5.69M |
|
861
Dianthus Therapeutics
DNTH
$6.29B
| $1.4M | 0.01% |
+75,079
| New | +$1.41M |
|
862
MYR Group
MYRG
$4.74B
| $1.39M | 0.01% |
+7,641
| New | +$1.12M |
|
863
Healthcare Services Group
HCSG
$1.55B
| $1.38M | 0.01% |
+91,914
| New | +$1.22M |
|
864
Warrior Met Coal
HCC
$5.52B
| $1.38M | 0.01% |
+30,120
| New | +$1.4M |
|
865
Sun Life Financial
SLF
$44.3B
| $1.38M | 0.01% |
+20,726
| New | +$1.27M |
|
866
Ceco Environmental
CECO
$4.24B
| $1.37M | 0.01% |
+48,396
| New | +$1.21M |
|
867
Fastly Inc
FSLY
$3.65B
| $1.36M | 0.01% |
+193,390
| New | +$1.3M |
|
868
Modine Manufacturing
MOD
$10.3B
| $1.36M | 0.01% |
13,826
-14,455
| -51% | -$1.29M |
|
|
CURB
869
Curbline Properties
CURB
$3.46B
| $1.35M | 0.01% |
+59,353
| New | +$1.37M |
|
|
CHYM
870
PUT
Chime Financial
CHYM
$12.5B
| $1.35M | 0.01% |
+39,000
| New | +$1.29M |
|
871
Nutrien
NTR
$34.4B
| $1.34M | 0.01% |
23,028
-16,230
| -41% | -$917K |
|
872
City Holding Co
CHCO
$2.04B
| $1.33M | 0.01% |
10,890
-10,232
| -48% | -$1.2M |
|
873
Janus International
JBI
$697M
| $1.33M | 0.01% |
+163,620
| New | +$1.25M |
|
874
Boeing
BA
$167B
| $1.33M | 0.01% |
6,354
-46,556
| -88% | -$8.79M |
|
875
National Healthcare
NHC
$3.55B
| $1.32M | 0.01% |
12,375
-6,450
| -34% | -$645K |
|
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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.