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 |
NVIDIA
NVDA
|
+$689M |
| 2 |
Broadcom
AVGO
|
+$153M |
| 3 |
Walmart Inc
WMT
|
+$136M |
| 4 |
Amazon
AMZN
|
+$104M |
| 5 |
iShares Core S&P 500 ETF
IVV
|
+$102M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$71.5M |
| 2 |
Pinnacle West Capital
PNW
|
+$49.1M |
| 3 |
Procter & Gamble
PG
|
+$43.7M |
| 4 |
Chevron
CVX
|
+$43.1M |
| 5 |
Hershey
HSY
|
+$43M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.62% |
| 2 | Healthcare | 9.42% |
| 3 | Industrials | 7.55% |
| 4 | Financials | 6.82% |
| 5 | Consumer Discretionary | 6.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1026
Walker & Dunlop
WD
$1.36B
| $913K | 0.01% |
+15,171
| New | +$1.08M |
|
1027
Zumiez
ZUMZ
$312M
| $911K | 0.01% |
+34,969
| New | +$840K |
|
1028
Clearfield
CLFD
$370M
| $908K | 0.01% |
+31,164
| New | +$1M |
|
1029
PUT
VanEck Semiconductor ETF
SMH
$64.8B
| $900K | 0.01% |
2,500
-500
| -17% | -$175K |
|
1030
Washington Trust Bancorp
WASH
$758M
| $895K | 0.01% |
30,289
-3,243
| -10% | -$92.2K |
|
1031
LPL Financial
LPLA
$28.7B
| $893K | 0.01% |
+2,500
| New | +$884K |
|
1032
Hercules Capital
HTGC
$3.28B
| $893K | 0.01% |
47,430
-6,644
| -12% | -$120K |
|
|
SA
1033
Seabridge Gold
SA
$3.56B
| $892K | 0.01% |
+30,151
| New | +$793K |
|
1034
Amerant Bancorp
AMTB
$1.13B
| $892K | 0.01% |
+45,703
| New | +$851K |
|
1035
CorVel
CRVL
$3.6B
| $890K | 0.01% |
+13,158
| New | +$953K |
|
1036
Oric Pharmaceuticals
ORIC
$1.4B
| $890K | 0.01% |
+108,835
| New | +$1.25M |
|
|
ADAM
1037
Adamas Trust
ADAM
$886M
| $889K | 0.01% |
+121,825
| New | +$865K |
|
1038
Shenandoah Telecom
SHEN
$681M
| $887K | 0.01% |
76,692
-28,953
| -27% | -$342K |
|
1039
Grocery Outlet
GO
$1.19B
| $875K | 0.01% |
+86,622
| New | +$1.09M |
|
1040
Transocean
RIG
$6.44B
| $874K | 0.01% |
211,606
-542,563
| -72% | -$2.11M |
|
1041
Sportradar
SRAD
$3.88B
| $867K | 0.01% |
+36,481
| New | +$877K |
|
1042
Granite Ridge Resources
GRNT
$666M
| $866K | 0.01% |
+184,210
| New | +$951K |
|
1043
Clean Energy Fuels
CLNE
$351M
| $861K | 0.01% |
410,184
+394,167
| +2,461% | +$964K |
|
1044
Commercial Metals
CMC
$7.18B
| $861K | 0.01% |
12,442
-179,451
| -94% | -$11.2M |
|
|
UCTT
1045
Ultra Clean Holdings
UCTT
$3.3B
| $859K | 0.01% |
+33,930
| New | +$903K |
|
1046
First Advantage
FA
$3.55B
| $859K | 0.01% |
+59,125
| New | +$833K |
|
|
OSG
1047
Octave Specialty Group
OSG
$204M
| $854K | 0.01% |
109,765
+95,606
| +675% | +$817K |
|
1048
TETRA Technologies
TTI
$1B
| $853K | 0.01% |
+91,013
| New | +$702K |
|
1049
Microvast
MVST
$298M
| $851K | 0.01% |
304,033
+242,131
| +391% | +$1.01M |
|
|
MAGN
1050
Magnera Corp
MAGN
$443M
| $848K | 0.01% |
56,025
+19,015
| +51% | +$220K |
|
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Michael Gelband's Q4 2025 Portfolio in Review
As of Q4 2025, Michael Gelband held 2,189 positions worth $12.7B, up 30% from $9.79B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Michael Gelband deployed $2.85B of net new capital in Q4 2025, opening 723 new positions and adding to 409 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 150,000 shares worth $103M.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 15% a quarter earlier, followed by Healthcare and Industrials.
On the sell side, the largest reduction was Procter & Gamble, an estimated $43.7M trimmed.
- Michael Gelband's largest Q4 2025 buy was iShares Core S&P 500 ETF: 150,000 shares worth $103M.
- Michael Gelband added most to NVIDIA in Q4 2025, an estimated $689M increase.
- Michael Gelband's biggest Q4 2025 reduction was Procter & Gamble, cutting an estimated $43.7M.
- Michael Gelband fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $71.5M.
- Michael Gelband's ten largest holdings make up 30% of its $12.7B portfolio in Q4 2025.
- Michael Gelband opened 723 new positions and closed 716 in Q4 2025.
- Michael Gelband's portfolio value rose 30% quarter-over-quarter to $12.7B.
Based on ExodusPoint Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.