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 |
Advanced Micro Devices
AMD
|
+$60.6M |
| 2 |
CoStar Group
CSGP
|
+$57.8M |
| 3 |
Consolidated Edison
ED
|
+$52.3M |
| 4 |
Deere & Co
DE
|
+$44.5M |
| 5 |
Exelon
EXC
|
+$42.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$483M |
| 2 |
Amazon
AMZN
|
+$366M |
| 3 |
Moderna
MRNA
|
+$123M |
| 4 |
Entergy
ETR
|
+$44.9M |
| 5 |
Linde
LIN
|
+$43.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.98% |
| 2 | Industrials | 10.54% |
| 3 | Consumer Discretionary | 9.76% |
| 4 | Financials | 9.11% |
| 5 | Healthcare | 7.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
901
Caterpillar
CAT
$373B
| $1.32M | 0.02% |
6,894
-46,507
| -87% | -$9.69M |
|
902
Haverty Furniture Companies
HVT
$430M
| $1.32M | 0.02% |
39,118
+17,096
| +78% | +$636K |
|
|
LBRDA
903
DELISTED
Liberty Broadband Class A
LBRDA
| $1.32M | 0.02% |
7,828
-212
| -3% | -$37K |
|
904
NVR
NVR
$17B
| $1.31M | 0.02% |
+274
| New | +$1.39M |
|
|
FMBI
905
DELISTED
First Midwest Bancorp Inc/IL
FMBI
| $1.31M | 0.02% |
69,064
+55,464
| +408% | +$1.02M |
|
|
SWAV
906
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
| $1.31M | 0.02% |
+6,354
| New | +$1.25M |
|
907
Franco-Nevada
FNV
$52.1B
| $1.3M | 0.02% |
+10,042
| New | +$1.47M |
|
908
Tower Semiconductor
TSEM
$23.9B
| $1.3M | 0.02% |
43,552
+8,750
| +25% | +$252K |
|
|
DENN
909
DELISTED
Denny's
DENN
| $1.3M | 0.02% |
79,486
-84,506
| -52% | -$1.33M |
|
|
XM
910
DELISTED
Qualtrics International Inc. Class A Common Stock
XM
| $1.3M | 0.02% |
30,399
-84,540
| -74% | -$3.58M |
|
911
Mitek Systems
MITK
$806M
| $1.29M | 0.02% |
+69,870
| New | +$1.42M |
|
|
TEN
912
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $1.29M | 0.02% |
+90,512
| New | +$1.46M |
|
913
MGIC Investment
MTG
$6.38B
| $1.29M | 0.02% |
86,325
+7,566
| +10% | +$110K |
|
914
Rekor Systems
REKR
$80.3M
| $1.29M | 0.02% |
111,982
-112,182
| -50% | -$1.02M |
|
915
iShares Core S&P Mid-Cap ETF
IJH
$125B
| $1.29M | 0.02% |
+24,440
| New | +$1.31M |
|
916
Datadog
DDOG
$81.1B
| $1.28M | 0.02% |
9,080
-24,719
| -73% | -$3.12M |
|
917
Zymeworks
ZYME
$2.06B
| $1.28M | 0.02% |
+44,125
| New | +$1.47M |
|
918
Morningstar
MORN
$8.16B
| $1.28M | 0.02% |
4,926
-622
| -11% | -$163K |
|
919
PennyMac Financial
PFSI
$3.91B
| $1.27M | 0.02% |
20,861
+15,533
| +292% | +$986K |
|
|
VPU
920
Vanguard Utilities ETF
VPU
$8.35B
| $1.27M | 0.02% |
9,159
+9,059
| +9,059% | +$1.32M |
|
921
AAR Corp
AIR
$5.42B
| $1.26M | 0.02% |
38,967
+15,052
| +63% | +$518K |
|
922
Pinnacle West Capital
PNW
$11.8B
| $1.26M | 0.02% |
+17,419
| New | +$1.38M |
|
|
VTNR
923
DELISTED
Vertex Energy, Inc
VTNR
| $1.26M | 0.02% |
240,381
+216,305
| +898% | +$1.72M |
|
|
IPG
924
DELISTED
Interpublic Group of Companies
IPG
| $1.26M | 0.02% |
34,334
+17,346
| +102% | +$621K |
|
925
Texas Capital Bancshares
TCBI
$4.26B
| $1.26M | 0.02% |
20,981
-16,386
| -44% | -$1.02M |
|
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Michael Gelband's Q3 2021 Portfolio in Review
As of Q3 2021, Michael Gelband held 2,951 positions worth $7.41B, down 18% from $9.04B the previous quarter. Its ten largest holdings account for 9.8% of the portfolio.
Michael Gelband withdrew a net $1.27B in Q3 2021, closing 919 positions and reducing 594 holdings. Its most notable exit was Amazon, an estimated $366M position sold in full.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 15% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Michael Gelband opened a new position in Advanced Micro Devices worth $61M.
- Michael Gelband's largest Q3 2021 buy was Advanced Micro Devices: 592,990 shares worth $61M.
- Michael Gelband added most to CoStar Group in Q3 2021, an estimated $57.8M increase.
- Michael Gelband's biggest Q3 2021 reduction was Microsoft, cutting an estimated $483M.
- Michael Gelband fully exited Amazon in Q3 2021, selling an estimated $366M.
- Michael Gelband's ten largest holdings make up 9.8% of its $7.41B portfolio in Q3 2021.
- Michael Gelband opened 679 new positions and closed 919 in Q3 2021.
- Michael Gelband's portfolio value fell 18% quarter-over-quarter to $7.41B.
Based on ExodusPoint Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.