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Michael Gelband ExodusPoint Capital Management

AUM $15.5B
1-Year Est. Return 38.81%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+11.09%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$11.4B
AUM Growth
+$1.29B
Cap. Flow
+$528M
Cap. Flow %
4.63%
Top 10 Hldgs %
25.25%
Holding
2,093
New
704
Increased
330
Reduced
366
Closed
687

Top Buys

Rank Stock Value
1
PARA
Paramount Global Class B
PARA
+$75M
2
CVX icon
Chevron
CVX
+$59.9M
3
GEHC icon
GE HealthCare
GEHC
+$57.5M
4
APP icon
Applovin
APP
+$54.7M
5
OKLO
Oklo
OKLO
+$52.8M

Top Sells

Rank Stock Value
1
XEL icon
Xcel Energy
XEL
+$137M
2
META icon
Meta Platforms (Facebook)
META
+$61.8M
3
BDX icon
Becton Dickinson
BDX
+$59.9M
4
CRWV
CoreWeave
CRWV
+$57.1M
5
AAPL icon
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
PVBC
876
DELISTED
Provident Bancorp
PVBC
$1.32M 0.01%
+105,979
New +$1.2M
NXRT
877
NexPoint Residential Trust
NXRT
$623M
$1.32M 0.01%
39,552
+13,166
+50% +$466K
GPI icon
878
Group 1 Automotive
GPI
$3.07B
$1.31M 0.01%
+3,002
New +$1.26M
POWL icon
879
Powell Industries
POWL
$6.98B
$1.31M 0.01%
18,666
-8,964
-32% -$541K
FBRT
880
Franklin BSP Realty Trust
FBRT
$698M
$1.3M 0.01%
+121,819
New +$1.37M
AEO icon
881
American Eagle Outfitters
AEO
$2.8B
$1.3M 0.01%
135,284
-204,200
-60% -$2.19M
BKH icon
882
Black Hills Corp
BKH
$5.5B
$1.29M 0.01%
+23,042
New +$1.35M
DASH icon
883
DoorDash
DASH
$100B
$1.29M 0.01%
+5,239
New +$1.05M
DNN icon
884
Denison Mines
DNN
$3.31B
$1.28M 0.01%
+706,100
New +$1.07M
ANIP icon
885
ANI Pharmaceuticals
ANIP
$1.72B
$1.28M 0.01%
19,654
-34,345
-64% -$2.24M
PHR icon
886
Phreesia
PHR
$715M
$1.28M 0.01%
+45,001
New +$1.14M
EOLS icon
887
Evolus
EOLS
$583M
$1.28M 0.01%
138,927
+67,605
+95% +$692K
CTSH icon
888
Cognizant
CTSH
$27.8B
$1.28M 0.01%
+16,394
New +$1.26M
KOP icon
889
Koppers
KOP
$854M
$1.27M 0.01%
39,591
+20,127
+103% +$578K
CDE icon
890
Coeur Mining
CDE
$21.4B
$1.27M 0.01%
143,186
-234,721
-62% -$1.71M
SHEN icon
891
Shenandoah Telecom
SHEN
$683M
$1.27M 0.01%
92,874
+48,690
+110% +$618K
TILE icon
892
Interface
TILE
$2.23B
$1.27M 0.01%
+60,634
New +$1.2M
COGT icon
893
Cogent Biosciences
COGT
$6.36B
$1.27M 0.01%
+176,276
New +$977K
AMKR icon
894
Amkor Technology
AMKR
$12.2B
$1.26M 0.01%
+60,161
New +$1.11M
RRR icon
895
Red Rock Resorts
RRR
$3.56B
$1.26M 0.01%
+24,208
New +$1.11M
KCHVU
896
Kochav Defense Acquisition Corp Units
KCHVU
$243M
$1.25M 0.01%
+123,031
New +$1.24M
HONE
897
DELISTED
HarborOne Bancorp
HONE
$1.25M 0.01%
106,729
+65,680
+160% +$718K
TPB icon
898
Turning Point Brands
TPB
$1.69B
$1.24M 0.01%
16,412
+3,334
+25% +$227K
SYRE icon
899
Spyre Therapeutics
SYRE
$9.66B
$1.24M 0.01%
82,977
+67,922
+451% +$1.01M
CNXN icon
900
PC Connection
CNXN
$1.95B
$1.23M 0.01%
18,710
-24,706
-57% -$1.6M
34 35
36
37 38

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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.