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 |
Fidelity National Information Services
FIS
|
+$365M |
| 2 |
Global Payments
GPN
|
+$250M |
| 3 |
NiSource
NI
|
+$109M |
| 4 |
Constellation Brands
STZ
|
+$107M |
| 5 |
Xcel Energy
XEL
|
+$105M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VMW
VMware, Inc
VMW
|
+$95.7M |
| 2 |
Invesco QQQ Trust
QQQ
|
+$89.4M |
| 3 |
ExxonMobil
XOM
|
+$84.7M |
| 4 |
Southern Company
SO
|
+$79.2M |
| 5 |
Emerson Electric
EMR
|
+$61.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 9.26% |
| 2 | Industrials | 7.84% |
| 3 | Utilities | 7.6% |
| 4 | Healthcare | 5.4% |
| 5 | Real Estate | 4.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
976
PagerDuty
PD
$956M
| $617K | ﹤0.01% |
+26,638
| New | +$577K |
|
977
OraSure Technologies
OSUR
$264M
| $612K | ﹤0.01% |
74,678
+55,733
| +294% | +$365K |
|
978
Construction Partners
ROAD
$6.16B
| $609K | ﹤0.01% |
13,996
+5,591
| +67% | +$229K |
|
|
CRGX
979
DELISTED
CARGO Therapeutics
CRGX
| $607K | ﹤0.01% |
+26,200
| New | +$444K |
|
|
SAGE
980
DELISTED
Sage Therapeutics
SAGE
| $606K | ﹤0.01% |
27,964
-2,107
| -7% | -$41.8K |
|
981
Patria Investments
PAX
$1.85B
| $599K | ﹤0.01% |
38,603
+17,703
| +85% | +$251K |
|
982
RCI Hospitality Holdings
RICK
$235M
| $599K | ﹤0.01% |
+9,041
| New | +$527K |
|
|
DAWN
983
DELISTED
Day One Biopharmaceuticals
DAWN
| $597K | ﹤0.01% |
40,903
-183,706
| -82% | -$2.23M |
|
984
FLEX LNG
FLNG
$1.72B
| $597K | ﹤0.01% |
+20,543
| New | +$616K |
|
985
Lumentum
LITE
$74.4B
| $595K | ﹤0.01% |
11,351
-33,214
| -75% | -$1.45M |
|
986
O-I Glass
OI
$1.12B
| $595K | ﹤0.01% |
+36,342
| New | +$560K |
|
987
Cinemark Holdings
CNK
$4.45B
| $592K | ﹤0.01% |
42,022
+17,145
| +69% | +$267K |
|
988
Grocery Outlet
GO
$1.19B
| $587K | ﹤0.01% |
21,767
-111,393
| -84% | -$3.12M |
|
989
Zumiez
ZUMZ
$312M
| $585K | ﹤0.01% |
28,768
+17,779
| +162% | +$319K |
|
990
United Parks & Resorts
PRKS
$2.03B
| $584K | ﹤0.01% |
+11,063
| New | +$527K |
|
991
NCR Voyix
VYX
$1.1B
| $582K | ﹤0.01% |
34,415
-352,832
| -91% | -$5.63M |
|
992
Fulgent Genetics
FLGT
$535M
| $580K | ﹤0.01% |
20,079
-2,025
| -9% | -$54.2K |
|
993
Gogo Inc
GOGO
$347M
| $579K | ﹤0.01% |
+57,161
| New | +$606K |
|
994
Hancock Whitney
HWC
$6.01B
| $577K | ﹤0.01% |
11,869
-63,004
| -84% | -$2.52M |
|
995
Cognex
CGNX
$9.86B
| $576K | ﹤0.01% |
13,791
-46,905
| -77% | -$1.8M |
|
996
Shopify
SHOP
$193B
| $575K | ﹤0.01% |
7,386
-16,699
| -69% | -$1.07M |
|
997
PC Connection
CNXN
$1.94B
| $572K | ﹤0.01% |
+8,513
| New | +$506K |
|
|
TGNA
998
DELISTED
TEGNA Inc
TGNA
| $572K | ﹤0.01% |
+37,416
| New | +$561K |
|
999
Tootsie Roll Industries
TR
$3.11B
| $569K | ﹤0.01% |
18,697
+403
| +2% | +$11.8K |
|
1000
Accuray
ARAY
$32.9M
| $568K | ﹤0.01% |
200,634
+56,598
| +39% | +$154K |
|
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Michael Gelband's Q4 2023 Portfolio in Review
As of Q4 2023, Michael Gelband held 2,187 positions worth $15.2B, up 46% from $10.5B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Michael Gelband deployed $3.57B of net new capital in Q4 2023, opening 553 new positions and adding to 436 existing holdings. Its largest new stake was Fidelity National Information Services: 6,650,397 shares worth $399M.
By sector, the portfolio is most concentrated in Technology at 9.3% of assets, down from 10% a quarter earlier, followed by Industrials and Utilities.
On the sell side, the largest reduction was Merck, an estimated $48.2M trimmed.
- Michael Gelband's largest Q4 2023 buy was Fidelity National Information Services: 6,650,397 shares worth $399M.
- Michael Gelband added most to Global Payments in Q4 2023, an estimated $250M increase.
- Michael Gelband's biggest Q4 2023 reduction was Merck, cutting an estimated $48.2M.
- Michael Gelband fully exited VMware, Inc in Q4 2023, selling an estimated $95.7M.
- Michael Gelband's ten largest holdings make up 45% of its $15.2B portfolio in Q4 2023.
- Michael Gelband opened 553 new positions and closed 789 in Q4 2023.
- Michael Gelband's portfolio value rose 46% quarter-over-quarter to $15.2B.
Based on ExodusPoint Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.