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 |
Amazon
AMZN
|
+$353M |
| 2 |
Microsoft
MSFT
|
+$352M |
| 3 |
Apple
AAPL
|
+$256M |
| 4 |
Alibaba
BABA
|
+$189M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$125M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SCHW
Charles Schwab
SCHW
|
+$82M |
| 2 |
Generac Holdings
GNRC
|
+$33.7M |
| 3 |
Pool Corp
POOL
|
+$32.5M |
| 4 |
Keurig Dr Pepper
KDP
|
+$31M |
| 5 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 14.28% |
| 2 | Consumer Discretionary | 10.77% |
| 3 | Healthcare | 5.09% |
| 4 | Industrials | 4.03% |
| 5 | Financials | 3.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1101
AerSale
ASLE
$268M
| $637K | 0.01% |
+47,473
| New | +$510K |
|
|
HZNP
1102
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $637K | 0.01% |
8,713
-335,855
| -97% | -$25M |
|
1103
Healthcare Realty
HR
$6.62B
| $635K | 0.01% |
23,043
-15,000
| -39% | -$396K |
|
1104
CALL
Quince Therapeutics
QNCX
$34.1M
| $633K | 0.01% |
+113
| New | +$1M |
|
|
GOEV
1105
DELISTED
Canoo Inc. Class A Common Stock
GOEV
| $632K | 0.01% |
+100
| New | +$591K |
|
1106
STRATTEC Security
STRT
$325M
| $630K | 0.01% |
+12,768
| New | +$455K |
|
1107
Winnebago Industries
WGO
$909M
| $628K | 0.01% |
+10,483
| New | +$572K |
|
1108
Cognizant
CTSH
$28B
| $626K | 0.01% |
7,636
-5,585
| -42% | -$425K |
|
1109
Northern Oil and Gas
NOG
$2.86B
| $624K | 0.01% |
+71,249
| New | +$441K |
|
1110
US Foods
USFD
$23.7B
| $623K | 0.01% |
18,707
-38,459
| -67% | -$1.1M |
|
1111
Xerox
XRX
$374M
| $623K | 0.01% |
+26,854
| New | +$568K |
|
1112
Houlihan Lokey
HLI
$9.01B
| $622K | 0.01% |
+9,252
| New | +$600K |
|
1113
nLIGHT
LASR
$2.54B
| $620K | 0.01% |
+18,998
| New | +$538K |
|
1114
Fastly Inc
FSLY
$3.65B
| $619K | 0.01% |
+7,087
| New | +$625K |
|
1115
Terex
TEX
$7.53B
| $618K | 0.01% |
+17,719
| New | +$523K |
|
|
MGP
1116
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $617K | 0.01% |
+19,699
| New | +$587K |
|
1117
Curtiss-Wright
CW
$22.7B
| $616K | 0.01% |
5,294
-23,255
| -81% | -$2.45M |
|
1118
FirstEnergy
FE
$26.9B
| $615K | 0.01% |
20,079
-72,332
| -78% | -$2.17M |
|
1119
Open Text
OTEX
$5.95B
| $614K | 0.01% |
13,506
+3,879
| +40% | +$166K |
|
|
PR
1120
Permian Resources
PR
$19.8B
| $614K | 0.01% |
409,022
+386,158
| +1,689% | +$400K |
|
1121
Ligand Pharmaceuticals
LGND
$5.59B
| $613K | 0.01% |
9,882
+4,573
| +86% | +$261K |
|
1122
Blackstone Mortgage Trust
BXMT
$2.38B
| $612K | 0.01% |
+22,241
| New | +$561K |
|
1123
Ducommun
DCO
$2.78B
| $612K | 0.01% |
+11,395
| New | +$492K |
|
1124
Mercado Libre
MELI
$98.8B
| $611K | 0.01% |
+365
| New | +$515K |
|
|
SF
1125
Stifel
SF
$12.2B
| $611K | 0.01% |
+18,161
| New | +$539K |
|
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Michael Gelband's Q4 2020 Portfolio in Review
As of Q4 2020, Michael Gelband held 2,600 positions worth $10.3B, up 105% from $5.02B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Michael Gelband deployed $4.62B of net new capital in Q4 2020, opening 918 new positions and adding to 493 existing holdings. Its largest new stake was State Street SPDR S&P 500 ETF Trust: 352,707 shares worth $132M.
By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 11% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Charles Schwab, an estimated $82M trimmed.
- Michael Gelband's largest Q4 2020 buy was State Street SPDR S&P 500 ETF Trust: 352,707 shares worth $132M.
- Michael Gelband added most to Amazon in Q4 2020, an estimated $353M increase.
- Michael Gelband's biggest Q4 2020 reduction was Charles Schwab, cutting an estimated $82M.
- Michael Gelband fully exited Eli Lilly in Q4 2020, selling an estimated $21.7M.
- Michael Gelband's ten largest holdings make up 42% of its $10.3B portfolio in Q4 2020.
- Michael Gelband opened 918 new positions and closed 701 in Q4 2020.
- Michael Gelband's portfolio value rose 105% quarter-over-quarter to $10.3B.
Based on ExodusPoint Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.