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 | |
|---|---|---|---|---|---|---|
976
Ardelyx
ARDX
$994M
| $957K | 0.01% |
244,191
-191,940
| -44% | -$792K |
|
977
MGE Energy Inc
MGEE
$2.98B
| $950K | 0.01% |
10,742
+2,828
| +36% | +$255K |
|
978
Bausch Health
BHC
$2.49B
| $946K | 0.01% |
+142,000
| New | +$730K |
|
|
CHCT
979
Community Healthcare Trust
CHCT
$430M
| $946K | 0.01% |
56,877
+4,782
| +9% | +$78.9K |
|
980
Public Storage
PSA
$60B
| $932K | 0.01% |
+3,175
| New | +$940K |
|
981
Johnson Controls International
JCI
$86.7B
| $927K | 0.01% |
+8,776
| New | +$808K |
|
982
Jack in the Box
JACK
$336M
| $920K | 0.01% |
+52,683
| New | +$1.19M |
|
983
Adecoagro
AGRO
$1.58B
| $919K | 0.01% |
+100,498
| New | +$979K |
|
984
SEI Investments
SEIC
$13.2B
| $917K | 0.01% |
10,202
-93,402
| -90% | -$7.53M |
|
985
Archer Aviation
ACHR
$4.66B
| $916K | 0.01% |
84,405
-254,677
| -75% | -$2.38M |
|
986
Boston Properties
BXP
$11.2B
| $913K | 0.01% |
+13,526
| New | +$901K |
|
987
Kelly Services Class A
KELYA
$582M
| $913K | 0.01% |
77,964
-38,616
| -33% | -$455K |
|
988
PUT
Getty Images
GETY
$108M
| $912K | 0.01% |
549,300
| – | – |
|
989
Benitec Biopharma
BNTC
$443M
| $894K | 0.01% |
76,379
-6,819
| -8% | -$95.4K |
|
990
Bit Digital
BTBT
$559M
| $890K | 0.01% |
406,529
+330,696
| +436% | +$730K |
|
991
Encompass Health
EHC
$11.9B
| $888K | 0.01% |
+7,238
| New | +$827K |
|
992
STMicroelectronics
STM
$44.3B
| $888K | 0.01% |
+29,190
| New | +$724K |
|
993
Bumble
BMBL
$380M
| $884K | 0.01% |
134,148
+73,014
| +119% | +$368K |
|
|
CBL
994
CBL Properties
CBL
$1.72B
| $884K | 0.01% |
34,831
-11,992
| -26% | -$296K |
|
995
Lyft
LYFT
$6.73B
| $884K | 0.01% |
56,123
-219,571
| -80% | -$3.08M |
|
996
PG&E
PCG
$39.9B
| $882K | 0.01% |
+63,288
| New | +$1.03M |
|
997
Arthur J. Gallagher & Co
AJG
$69.2B
| $878K | 0.01% |
+2,742
| New | +$904K |
|
998
AES
AES
$10.5B
| $876K | 0.01% |
83,286
-57,739
| -41% | -$618K |
|
999
RPC Inc
RES
$1.37B
| $874K | 0.01% |
184,719
-425,709
| -70% | -$2.05M |
|
1000
Madrigal Pharmaceuticals
MDGL
$12B
| $871K | 0.01% |
+2,878
| New | +$857K |
|
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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.