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Michael Gelband ExodusPoint Capital Management

AUM $15.5B
1-Year Est. Return 38.81%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-18.09%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$1.82B
AUM Growth
-$3.51B
Cap. Flow
-$2.93B
Cap. Flow %
-160.55%
Top 10 Hldgs %
32.02%
Holding
1,928
New
442
Increased
201
Reduced
384
Closed
898

Top Buys

Rank Stock Value
1
XLI icon
State Street Industrial Select Sector SPDR ETF
XLI
+$20.8M
2
CMCSA icon
Comcast
CMCSA
+$17.9M
3
MA icon
Mastercard
MA
+$17.9M
4
MCK icon
McKesson
MCK
+$17.6M
5
REYN icon
Reynolds Consumer Products
REYN
+$13.7M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$393M
2
ETR icon
Entergy
ETR
+$96.9M
3
CMS icon
CMS Energy
CMS
+$81.1M
4
ED icon
Consolidated Edison
ED
+$79.6M
5
AEE icon
Ameren
AEE
+$72.9M

Sector Composition

Rank Sector Weight
1 Technology 11.65%
2 Financials 7.8%
3 Healthcare 7.73%
4 Consumer Discretionary 6.21%
5 Consumer Staples 6.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VISN
1151
Vistance Networks Inc
VISN
$2.5B
– –
-51,806
Closed -$735K
COOP
1152
DELISTED
Mr. Cooper
COOP
– –
-28,959
Closed -$362K
CORT icon
1153
Corcept Therapeutics
CORT
$13.3B
– –
-37,139
Closed -$449K
CPF icon
1154
Central Pacific Financial
CPF
$972M
– –
-17,508
Closed -$518K
CPK icon
1155
Chesapeake Utilities
CPK
$3.26B
– –
-3,467
Closed -$332K
CRBP icon
1156
Corbus Pharmaceuticals
CRBP
$207M
– –
-363
Closed -$59K
CRI icon
1157
Carter's
CRI
$1.26B
– –
-9,982
Closed -$1.09M
CRK icon
1158
Comstock Resources
CRK
$4.19B
– –
-14,658
Closed -$121K
CRMD icon
1159
CorMedix
CRMD
$645M
– –
-23,003
Closed -$167K
CRVS icon
1160
Corvus Pharmaceuticals
CRVS
$1.19B
– –
-22,861
Closed -$124K
CSIQ icon
1161
Canadian Solar
CSIQ
$972M
– –
-15,404
Closed -$340K
CSR
1162
Centerspace
CSR
$917M
– –
-4,206
Closed -$305K
CSV icon
1163
Carriage Services
CSV
$549M
– –
-26,610
Closed -$681K
CSWC icon
1164
Capital Southwest
CSWC
$1.61B
– –
-11,400
Closed -$237K
CTMX icon
1165
CytomX Therapeutics
CTMX
$717M
– –
-33,879
Closed -$282K
CTSH icon
1166
CALL
Cognizant
CTSH
$28B
– –
-162,500
Closed -$10.1M
CTSH icon
1167
Cognizant
CTSH
$28B
– –
-13,215
Closed -$820K
CUBE icon
1168
CubeSmart
CUBE
$9.21B
– –
-13,432
Closed -$423K
CUBI icon
1169
Customers Bancorp
CUBI
$2.67B
– –
-33,111
Closed -$788K
CUZ icon
1170
Cousins Properties
CUZ
$4.94B
– –
-14,951
Closed -$616K
CVE icon
1171
Cenovus Energy
CVE
$59.3B
– –
-659,898
Closed -$6.7M
CVGW
1172
DELISTED
Calavo Growers
CVGW
– –
-8,649
Closed -$784K
CVI icon
1173
CVR Energy
CVI
$3.82B
– –
-18,641
Closed -$754K
CVLT icon
1174
Commault Systems
CVLT
$5.43B
– –
-34,835
Closed -$1.55M
CWT icon
1175
California Water Service
CWT
$3.14B
– –
-22,089
Closed -$1.14M
45 46
47
48 49

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Michael Gelband's Q1 2020 Portfolio in Review

As of Q1 2020, Michael Gelband held 1,928 positions worth $1.82B, down 66% from $5.33B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Michael Gelband withdrew a net $2.93B in Q1 2020, closing 898 positions and reducing 384 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $393M position sold in full.

By sector, the portfolio is most concentrated in Technology at 12% of assets, up from 11% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Michael Gelband opened a new position in Mastercard worth $14.5M.

  • Michael Gelband's largest Q1 2020 buy was Mastercard: 60,087 shares worth $14.5M.
  • Michael Gelband added most to State Street Industrial Select Sector SPDR ETF in Q1 2020, an estimated $20.8M increase.
  • Michael Gelband's biggest Q1 2020 reduction was Entergy, cutting an estimated $96.9M.
  • Michael Gelband fully exited State Street SPDR S&P 500 ETF Trust in Q1 2020, selling an estimated $393M.
  • Michael Gelband's ten largest holdings make up 32% of its $1.82B portfolio in Q1 2020.
  • Michael Gelband opened 442 new positions and closed 898 in Q1 2020.
  • Michael Gelband's portfolio value fell 66% quarter-over-quarter to $1.82B.

Based on ExodusPoint Capital Management's 13F filing for Q1 2020, filed 15 May 2020.