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 | |
|---|---|---|---|---|---|---|
951
Capital Southwest
CSWC
$1.61B
| $873K | 0.01% |
+39,100
| New | +$883K |
|
952
CTS Corp
CTS
$1.6B
| $870K | 0.01% |
+20,930
| New | +$980K |
|
953
Marriott Vacations Worldwide
VAC
$3.92B
| $866K | 0.01% |
+13,482
| New | +$1.07M |
|
954
Paysafe
PSFE
$347M
| $859K | 0.01% |
54,724
-50,076
| -48% | -$909K |
|
955
Evolus
EOLS
$580M
| $858K | 0.01% |
71,322
+57,797
| +427% | +$756K |
|
956
Thryv Holdings
THRY
$87.5M
| $849K | 0.01% |
66,256
-18,871
| -22% | -$313K |
|
|
LAND
957
Gladstone Land Corp
LAND
$381M
| $843K | 0.01% |
80,132
+30,618
| +62% | +$335K |
|
958
Comfort Systems
FIX
$56.6B
| $841K | 0.01% |
+2,609
| New | +$1.05M |
|
|
TPC
959
Tutor Perini Cor
TPC
$4.64B
| $836K | 0.01% |
+36,071
| New | +$890K |
|
960
Unifirst Corp
UNF
$5.27B
| $832K | 0.01% |
4,780
-4,682
| -49% | -$977K |
|
961
PubMatic
PUBM
$745M
| $829K | 0.01% |
+90,699
| New | +$1.2M |
|
962
Tompkins Financial
TMP
$1.41B
| $829K | 0.01% |
13,161
+3,027
| +30% | +$203K |
|
963
Apogee Enterprises
APOG
$863M
| $824K | 0.01% |
+17,795
| New | +$909K |
|
964
Flowers Foods
FLO
$1.55B
| $821K | 0.01% |
43,172
-119,733
| -73% | -$2.29M |
|
965
Hyster-Yale Materials Handling
HY
$615M
| $818K | 0.01% |
19,696
+13,535
| +220% | +$673K |
|
966
SI-BONE Inc
SIBN
$872M
| $816K | 0.01% |
+58,135
| New | +$938K |
|
967
CareDx
CDNA
$2.46B
| $815K | 0.01% |
45,943
-29,804
| -39% | -$642K |
|
|
OSG
968
Octave Specialty Group
OSG
$205M
| $814K | 0.01% |
+93,039
| New | +$980K |
|
969
Harmony Gold Mining
HMY
$14.3B
| $810K | 0.01% |
+54,840
| New | +$611K |
|
970
SiriusPoint
SPNT
$2.79B
| $809K | 0.01% |
46,793
-159,813
| -77% | -$2.38M |
|
971
Astrana Health
ASTH
$1.89B
| $809K | 0.01% |
26,090
-10,060
| -28% | -$335K |
|
972
KraneShares CSI China Internet ETF
KWEB
$5.18B
| $808K | 0.01% |
+23,136
| New | +$767K |
|
973
Kymera Therapeutics
KYMR
$10.1B
| $807K | 0.01% |
29,501
+15,375
| +109% | +$560K |
|
|
CIVI
974
DELISTED
Civitas Resources
CIVI
| $806K | 0.01% |
23,101
-13,245
| -36% | -$587K |
|
975
Fox Factory Holding Corp
FOXF
$910M
| $805K | 0.01% |
34,481
-14,039
| -29% | -$376K |
|
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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.