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 | |
|---|---|---|---|---|---|---|
976
CALL
Cytokinetics
CYTK
$10.7B
| $804K | 0.01% |
+20,000
| New | +$919K |
|
977
PennantPark Floating Rate Capital
PFLT
$740M
| $803K | 0.01% |
+71,800
| New | +$801K |
|
978
Acadia Realty Trust
AKR
$2.93B
| $800K | 0.01% |
+38,165
| New | +$864K |
|
|
LUCK
979
Lucky Strike Entertainment
LUCK
$915M
| $797K | 0.01% |
81,641
-22,700
| -22% | -$238K |
|
|
ENFN
980
DELISTED
Enfusion, Inc.
ENFN
| $796K | 0.01% |
71,425
+40,037
| +128% | +$443K |
|
981
Aspen Aerogels
ASPN
$416M
| $795K | 0.01% |
+124,357
| New | +$1.2M |
|
982
Trinity Industries
TRN
$2.37B
| $793K | 0.01% |
+28,262
| New | +$947K |
|
983
Genworth Financial
GNW
$3.74B
| $792K | 0.01% |
111,748
-377,252
| -77% | -$2.62M |
|
984
Ionis Pharmaceuticals
IONS
$10.3B
| $792K | 0.01% |
+26,261
| New | +$860K |
|
|
SWTX
985
DELISTED
SpringWorks Therapeutics
SWTX
| $785K | 0.01% |
+17,785
| New | +$819K |
|
986
HealthEquity
HQY
$8.81B
| $780K | 0.01% |
+8,827
| New | +$905K |
|
987
3M
MMM
$92.3B
| $780K | 0.01% |
5,308
-36,320
| -87% | -$5.34M |
|
988
Wave Life Sciences
WVE
$1.01B
| $778K | 0.01% |
+96,268
| New | +$1.05M |
|
989
Turning Point Brands
TPB
$1.67B
| $777K | 0.01% |
13,078
-19,196
| -59% | -$1.19M |
|
|
SAFE
990
Safehold
SAFE
$1.1B
| $768K | 0.01% |
41,003
-105,283
| -72% | -$1.85M |
|
991
BlackLine
BL
$1.86B
| $764K | 0.01% |
15,785
-11,118
| -41% | -$609K |
|
992
ScottsMiracle-Gro
SMG
$3.53B
| $761K | 0.01% |
13,864
-74,396
| -84% | -$4.81M |
|
993
Calumet Specialty Products
CLMT
$4.16B
| $760K | 0.01% |
+59,941
| New | +$941K |
|
994
Gold Fields
GFI
$42.3B
| $760K | 0.01% |
34,397
-153,067
| -82% | -$2.8M |
|
995
Janux Therapeutics
JANX
$1.14B
| $755K | 0.01% |
+27,964
| New | +$1.05M |
|
|
MLNK
996
DELISTED
MeridianLink
MLNK
| $755K | 0.01% |
+40,728
| New | +$787K |
|
|
AHRT
997
AH Realty Trust
AHRT
$502M
| $754K | 0.01% |
100,453
+41,834
| +71% | +$380K |
|
998
Community Health Systems
CYH
$424M
| $754K | 0.01% |
+279,291
| New | +$870K |
|
999
Old Second Bancorp
OSBC
$1.29B
| $754K | 0.01% |
+45,323
| New | +$811K |
|
1000
Pricesmart
PSMT
$5.4B
| $752K | 0.01% |
8,560
-2,488
| -23% | -$222K |
|
Similar funds
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.