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 | |
|---|---|---|---|---|---|---|
951
Independent Bank Corp
IBCP
$820M
| $1.04M | 0.01% |
32,089
-29,198
| -48% | -$905K |
|
952
Mattel
MAT
$4.23B
| $1.04M | 0.01% |
+52,743
| New | +$939K |
|
953
ArriVent BioPharma
AVBP
$1.39B
| $1.04M | 0.01% |
47,585
+25,317
| +114% | +$526K |
|
|
GOOD
954
Gladstone Commercial Corp
GOOD
$638M
| $1.03M | 0.01% |
72,233
+30,083
| +71% | +$427K |
|
955
AZZ Inc
AZZ
$4.23B
| $1.03M | 0.01% |
+10,945
| New | +$966K |
|
956
Viking Therapeutics
VKTX
$3.88B
| $1.03M | 0.01% |
38,716
-311,094
| -89% | -$8.19M |
|
957
AutoNation
AN
$6.45B
| $1.02M | 0.01% |
+5,131
| New | +$926K |
|
958
F5
FFIV
$21.5B
| $1.01M | 0.01% |
+3,449
| New | +$953K |
|
959
Leonardo DRS
DRS
$10.4B
| $1.01M | 0.01% |
21,823
-61,239
| -74% | -$2.46M |
|
960
Wendy's
WEN
$1.69B
| $1.01M | 0.01% |
+88,569
| New | +$1.08M |
|
961
Cable One
CABO
$130M
| $1M | 0.01% |
+7,403
| New | +$1.39M |
|
962
BJ's Restaurants
BJRI
$1.43B
| $1M | 0.01% |
+22,428
| New | +$885K |
|
|
SA
963
Seabridge Gold
SA
$3.56B
| $993K | 0.01% |
+68,418
| New | +$869K |
|
|
AMWD
964
DELISTED
American Woodmark
AMWD
| $990K | 0.01% |
+18,558
| New | +$1.05M |
|
|
CPRX
965
DELISTED
Catalyst Pharmaceutical
CPRX
| $986K | 0.01% |
+45,449
| New | +$1.07M |
|
966
Reinsurance Group of America
RGA
$16B
| $986K | 0.01% |
4,971
-43,750
| -90% | -$8.54M |
|
967
ESAB
ESAB
$4.93B
| $985K | 0.01% |
+8,168
| New | +$988K |
|
|
DVAX
968
DELISTED
Dynavax Technologies
DVAX
| $983K | 0.01% |
99,131
-11,039
| -10% | -$116K |
|
969
FormFactor
FORM
$8.43B
| $979K | 0.01% |
+28,450
| New | +$864K |
|
970
MDU Resources
MDU
$4.2B
| $978K | 0.01% |
+58,673
| New | +$987K |
|
971
Blackstone
BX
$108B
| $977K | 0.01% |
6,530
-33,625
| -84% | -$4.62M |
|
972
Planet Labs
PL
$7.69B
| $969K | 0.01% |
158,858
+42,350
| +36% | +$173K |
|
973
Benchmark Electronics
BHE
$2.58B
| $964K | 0.01% |
+24,818
| New | +$908K |
|
974
Deluxe
DLX
$1.1B
| $962K | 0.01% |
60,491
-21,535
| -26% | -$324K |
|
|
PMT
975
PennyMac Mortgage Investment
PMT
$810M
| $961K | 0.01% |
+74,742
| New | +$953K |
|
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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.