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 |
Advanced Micro Devices
AMD
|
+$60.6M |
| 2 |
CoStar Group
CSGP
|
+$57.8M |
| 3 |
Consolidated Edison
ED
|
+$52.3M |
| 4 |
Deere & Co
DE
|
+$44.5M |
| 5 |
Exelon
EXC
|
+$42.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$483M |
| 2 |
Amazon
AMZN
|
+$366M |
| 3 |
Moderna
MRNA
|
+$123M |
| 4 |
Entergy
ETR
|
+$44.9M |
| 5 |
Linde
LIN
|
+$43.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.98% |
| 2 | Industrials | 10.54% |
| 3 | Consumer Discretionary | 9.76% |
| 4 | Financials | 9.11% |
| 5 | Healthcare | 7.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1201
Martin Marietta Materials
MLM
$37.9B
| $707K | 0.01% |
+2,069
| New | +$753K |
|
1202
Verra Mobility
VRRM
$679M
| $707K | 0.01% |
46,938
+23,391
| +99% | +$357K |
|
|
GBT
1203
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $704K | 0.01% |
+27,623
| New | +$812K |
|
1204
APA Corp
APA
$15.1B
| $703K | 0.01% |
32,810
-239,781
| -88% | -$4.58M |
|
1205
Toro Company
TTC
$9.47B
| $703K | 0.01% |
7,222
-13,414
| -65% | -$1.46M |
|
1206
Piper Sandler
PIPR
$5.29B
| $701K | 0.01% |
+20,264
| New | +$679K |
|
1207
Corpay
CPAY
$27.2B
| $700K | 0.01% |
2,680
-56,242
| -95% | -$14.6M |
|
|
CAI
1208
DELISTED
CAI International, Inc.
CAI
| $700K | 0.01% |
12,525
+3,973
| +46% | +$222K |
|
|
FLXN
1209
DELISTED
Flexion Therapeutics, Inc.
FLXN
| $699K | 0.01% |
114,564
+87,417
| +322% | +$545K |
|
1210
MSCI
MSCI
$41.5B
| $698K | 0.01% |
+1,147
| New | +$701K |
|
1211
G-III Apparel Group
GIII
$1.43B
| $697K | 0.01% |
24,624
+7,480
| +44% | +$225K |
|
1212
Cloudflare
NET
$99.8B
| $697K | 0.01% |
+6,188
| New | +$739K |
|
1213
Liberty Latin America Class C
LILAK
$1.64B
| $695K | 0.01% |
+58,286
| New | +$724K |
|
1214
United Bankshares
UBSI
$6.51B
| $695K | 0.01% |
+19,096
| New | +$668K |
|
|
CUTR
1215
DELISTED
Cutera, Inc.
CUTR
| $694K | 0.01% |
+14,894
| New | +$735K |
|
1216
Assurant
AIZ
$14.2B
| $693K | 0.01% |
4,391
+932
| +27% | +$150K |
|
1217
Alarm.com
ALRM
$2.83B
| $690K | 0.01% |
8,830
-2,294
| -21% | -$190K |
|
|
XIFR
1218
XPLR Infrastructure LP
XIFR
$1.06B
| $689K | 0.01% |
+9,142
| New | +$713K |
|
|
INST
1219
DELISTED
Instructure Holdings, Inc.
INST
| $689K | 0.01% |
+30,521
| New | +$651K |
|
1220
Verizon
VZ
$208B
| $688K | 0.01% |
12,730
-98,631
| -89% | -$5.46M |
|
|
AIRC
1221
DELISTED
Apartment Income REIT Corp.
AIRC
| $688K | 0.01% |
+14,101
| New | +$713K |
|
1222
BorgWarner
BWA
$13.1B
| $687K | 0.01% |
18,049
+8,104
| +81% | +$322K |
|
1223
Varex Imaging
VREX
$781M
| $686K | 0.01% |
+24,327
| New | +$675K |
|
1224
Chewy
CHWY
$10B
| $685K | 0.01% |
10,052
-21,003
| -68% | -$1.74M |
|
|
MCHB
1225
Mechanics Bancorp
MCHB
$3.58B
| $685K | 0.01% |
16,649
+1,221
| +8% | +$47.7K |
|
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Michael Gelband's Q3 2021 Portfolio in Review
As of Q3 2021, Michael Gelband held 2,951 positions worth $7.41B, down 18% from $9.04B the previous quarter. Its ten largest holdings account for 9.8% of the portfolio.
Michael Gelband withdrew a net $1.27B in Q3 2021, closing 919 positions and reducing 594 holdings. Its most notable exit was Amazon, an estimated $366M position sold in full.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 15% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Michael Gelband opened a new position in Advanced Micro Devices worth $61M.
- Michael Gelband's largest Q3 2021 buy was Advanced Micro Devices: 592,990 shares worth $61M.
- Michael Gelband added most to CoStar Group in Q3 2021, an estimated $57.8M increase.
- Michael Gelband's biggest Q3 2021 reduction was Microsoft, cutting an estimated $483M.
- Michael Gelband fully exited Amazon in Q3 2021, selling an estimated $366M.
- Michael Gelband's ten largest holdings make up 9.8% of its $7.41B portfolio in Q3 2021.
- Michael Gelband opened 679 new positions and closed 919 in Q3 2021.
- Michael Gelband's portfolio value fell 18% quarter-over-quarter to $7.41B.
Based on ExodusPoint Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.