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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
+18.5%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$15.5B
AUM Growth
+$2.94B
Cap. Flow
+$1.45B
Cap. Flow %
9.35%
Top 10 Hldgs %
30.63%
Holding
2,230
New
735
Increased
384
Reduced
378
Closed
720

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$614M
2
AAPL icon
Apple
AAPL
+$443M
3
BLD
TopBuild
BLD
+$391M
4
SPCX
SpaceX
SPCX
+$329M
5
PEN icon
Penumbra
PEN
+$203M

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$1.96B
2
NVDA icon
NVIDIA
NVDA
+$425M
3
SNDK
Sandisk
SNDK
+$88M
4
SO icon
Southern Company
SO
+$80.6M
5
PPL
PPL Corp
PPL
+$74.1M

Sector Composition

Rank Sector Weight
1 Technology 16.4%
2 Industrials 13.64%
3 Consumer Discretionary 9.5%
4 Healthcare 7.9%
5 Financials 5.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXPE icon
976
Expedia Group
EXPE
$38.6B
$1.35M 0.01%
+5,274
New +$1.25M
GDS icon
977
GDS Holdings
GDS
$6.58B
$1.35M 0.01%
44,862
-16,044
-26% -$619K
BLDR icon
978
PUT
Builders FirstSource
BLDR
$7.55B
$1.34M 0.01%
+15,000
New +$1.2M
SLG icon
979
SL Green Realty
SLG
$4.07B
$1.34M 0.01%
25,862
-11,827
-31% -$528K
UBSI icon
980
United Bankshares
UBSI
$6.51B
$1.34M 0.01%
29,209
-15,965
-35% -$698K
MLKN icon
981
MillerKnoll
MLKN
$1.57B
$1.33M 0.01%
+64,856
New +$1.04M
NXT icon
982
Nextpower Inc
NXT
$13.1B
$1.32M 0.01%
+11,087
New +$1.37M
PK icon
983
Park Hotels & Resorts
PK
$3.18B
$1.32M 0.01%
+92,364
New +$1.13M
URNM icon
984
Sprott Uranium Miners ETF
URNM
$2.16B
$1.31M 0.01%
+25,000
New +$1.55M
ABEO icon
985
Abeona Therapeutics
ABEO
$348M
$1.31M 0.01%
212,325
+89,381
+73% +$491K
TYRA icon
986
Tyra Biosciences
TYRA
$1.55B
$1.31M 0.01%
41,026
+26,960
+192% +$892K
HGV icon
987
Hilton Grand Vacations
HGV
$3.51B
$1.31M 0.01%
25,017
-152,598
-86% -$7.36M
TFSL icon
988
TFS Financial
TFSL
$4.95B
$1.31M 0.01%
73,888
-203,099
-73% -$3.17M
REA
989
Rare Earths Americas Inc
REA
$290M
$1.3M 0.01%
+85,000
New +$1.68M
BELFB
990
Bel Fuse Inc Class B
BELFB
$3.69B
$1.3M 0.01%
+3,899
New +$1.05M
REAL icon
991
The RealReal
REAL
$1.35B
$1.3M 0.01%
109,908
-71,601
-39% -$763K
PNTG icon
992
Pennant Group
PNTG
$1.36B
$1.29M 0.01%
35,014
-23,106
-40% -$755K
SUJA
993
Suja Life Inc
SUJA
$183M
$1.29M 0.01%
+127,210
New +$1.71M
MBIN icon
994
Merchants Bancorp
MBIN
$2.51B
$1.28M 0.01%
+25,670
New +$1.22M
SOXX icon
995
PUT
iShares Semiconductor ETF
SOXX
$42.4B
$1.28M 0.01%
+2,000
New +$1.02M
TARS icon
996
Tarsus Pharmaceuticals
TARS
$3.19B
$1.27M 0.01%
20,250
-10,070
-33% -$643K
NEXT icon
997
NextDecade
NEXT
$1.9B
$1.27M 0.01%
168,921
+11,032
+7% +$87.3K
AIFC
998
AI Financial Corp
AIFC
$94.5M
$1.27M 0.01%
2,170,301
-84,609
-4% -$70.9K
TRUP icon
999
Trupanion
TRUP
$1.36B
$1.27M 0.01%
51,153
+30,910
+153% +$751K
BUD icon
1000
AB InBev
BUD
$155B
$1.26M 0.01%
15,272
-9,817
-39% -$772K
38 39
40
41 42

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Michael Gelband's Q2 2026 Portfolio in Review

As of Q2 2026, Michael Gelband held 2,230 positions worth $15.5B, up 23% from $12.6B the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Michael Gelband deployed $1.45B of net new capital in Q2 2026, opening 735 new positions and adding to 384 existing holdings. Its largest new stake was SpaceX: 1,938,935 shares worth $331M.

By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was Tesla, an estimated $1.96B trimmed.

  • Michael Gelband's largest Q2 2026 buy was SpaceX: 1,938,935 shares worth $331M.
  • Michael Gelband added most to Amazon in Q2 2026, an estimated $614M increase.
  • Michael Gelband's biggest Q2 2026 reduction was Tesla, cutting an estimated $1.96B.
  • Michael Gelband fully exited Southern Company in Q2 2026, selling an estimated $80.6M.
  • Michael Gelband's ten largest holdings make up 31% of its $15.5B portfolio in Q2 2026.
  • Michael Gelband opened 735 new positions and closed 720 in Q2 2026.
  • Michael Gelband's portfolio value rose 23% quarter-over-quarter to $15.5B.

Based on ExodusPoint Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.