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 | |
|---|---|---|---|---|---|---|
1151
Brown-Forman Class A
BF.A
$13.5B
| $590K | 0.01% |
8,024
+7,264
| +956% | +$522K |
|
1152
Culp Inc
CULP
$43.9M
| $590K | 0.01% |
+37,193
| New | +$531K |
|
1153
NetApp
NTAP
$36.7B
| $590K | 0.01% |
8,901
-47,456
| -84% | -$2.51M |
|
|
MRO
1154
DELISTED
Marathon Oil Corporation
MRO
| $589K | 0.01% |
+88,335
| New | +$475K |
|
1155
Customers Bancorp
CUBI
$2.67B
| $586K | 0.01% |
+32,234
| New | +$511K |
|
1156
Mueller Industries
MLI
$14B
| $584K | 0.01% |
66,484
-13,460
| -17% | -$108K |
|
1157
Shutterstock
SSTK
$198M
| $584K | 0.01% |
8,151
+2,838
| +53% | +$188K |
|
1158
Babcock & Wilcox
BW
$1.15B
| $582K | 0.01% |
+165,829
| New | +$520K |
|
1159
Delek US
DK
$4.17B
| $582K | 0.01% |
36,194
-138,833
| -79% | -$1.83M |
|
1160
ACI Worldwide
ACIW
$5.29B
| $580K | 0.01% |
+15,099
| New | +$506K |
|
|
VRTU
1161
DELISTED
Virtusa Corporation
VRTU
| $580K | 0.01% |
11,346
+5,255
| +86% | +$264K |
|
1162
State Street
STT
$52.4B
| $578K | 0.01% |
7,939
+4,565
| +135% | +$310K |
|
1163
CALL
Surgery Partners
SGRY
$1.83B
| $577K | 0.01% |
+20,000
| New | +$498K |
|
1164
Kadant
KAI
$3.69B
| $576K | 0.01% |
4,087
-11,761
| -74% | -$1.5M |
|
1165
Zillow
ZG
$8.53B
| $576K | 0.01% |
4,240
-93,315
| -96% | -$10.5M |
|
1166
Element Solutions
ESI
$8.52B
| $575K | 0.01% |
32,432
-3,020
| -9% | -$41.8K |
|
1167
Duluth Holdings
DLTH
$143M
| $573K | 0.01% |
+54,249
| New | +$740K |
|
|
TBI
1168
Trueblue
TBI
$325M
| $571K | 0.01% |
30,541
-2,630
| -8% | -$47.3K |
|
|
HECCU
1169
DELISTED
Hudson Executive Investment Corp. Units
HECCU
| $570K | 0.01% |
50,000
| – | – |
|
|
ALTUU
1170
DELISTED
Altitude Acquisition Corp Unit
ALTUU
| $569K | 0.01% |
+55,000
| New | +$567K |
|
|
OSG
1171
Octave Specialty Group
OSG
$204M
| $568K | 0.01% |
+36,914
| New | +$544K |
|
1172
Morgan Stanley
MS
$336B
| $566K | 0.01% |
+8,259
| New | +$474K |
|
1173
Steris
STE
$23.2B
| $565K | 0.01% |
+2,980
| New | +$556K |
|
1174
Vital Farms
VITL
$476M
| $565K | 0.01% |
+22,340
| New | +$706K |
|
1175
Hudbay
HBM
$13.1B
| $564K | 0.01% |
80,558
+61,277
| +318% | +$346K |
|
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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.