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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
+11.09%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$11.4B
AUM Growth
+$1.29B
Cap. Flow
+$528M
Cap. Flow %
4.63%
Top 10 Hldgs %
25.25%
Holding
2,093
New
704
Increased
330
Reduced
366
Closed
687

Top Buys

Rank Stock Value
1
PARA
Paramount Global Class B
PARA
+$75M
2
CVX icon
Chevron
CVX
+$59.9M
3
GEHC icon
GE HealthCare
GEHC
+$57.5M
4
APP icon
Applovin
APP
+$54.7M
5
OKLO
Oklo
OKLO
+$52.8M

Top Sells

Rank Stock Value
1
XEL icon
Xcel Energy
XEL
+$137M
2
META icon
Meta Platforms (Facebook)
META
+$61.8M
3
BDX icon
Becton Dickinson
BDX
+$59.9M
4
CRWV
CoreWeave
CRWV
+$57.1M
5
AAPL icon
Apple
AAPL
+$50.2M

Sector Composition

Rank Sector Weight
1 Healthcare 11.73%
2 Financials 9.81%
3 Utilities 8.63%
4 Technology 7.6%
5 Industrials 7.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UFPT icon
1201
UFP Technologies
UFPT
$2.37B
$401K ﹤0.01%
+1,641
New +$369K
SBSI icon
1202
Southside Bancshares
SBSI
$956M
$396K ﹤0.01%
+13,459
New +$381K
SKE
1203
Skeena Resources
SKE
$4.39B
$395K ﹤0.01%
24,820
+12,186
+96% +$154K
FRSH icon
1204
Freshworks
FRSH
$3.44B
$388K ﹤0.01%
+26,054
New +$375K
JBLU icon
1205
JetBlue
JBLU
$1.87B
$387K ﹤0.01%
91,382
-21,820
-19% -$97.7K
CHKP icon
1206
Check Point Software Technologies
CHKP
$13.3B
$385K ﹤0.01%
1,740
-56,019
-97% -$12.3M
ABM icon
1207
ABM Industries
ABM
$2.75B
$381K ﹤0.01%
+8,075
New +$390K
GIC icon
1208
Global Industrial
GIC
$1.51B
$381K ﹤0.01%
14,099
+3,785
+37% +$95.1K
OUST icon
1209
Ouster
OUST
$2.58B
$380K ﹤0.01%
+15,660
New +$190K
UPWK icon
1210
Upwork
UPWK
$1.07B
$380K ﹤0.01%
+28,256
New +$406K
OFG icon
1211
OFG Bancorp
OFG
$2.21B
$378K ﹤0.01%
+8,836
New +$354K
CMTG icon
1212
Claros Mortgage Trust
CMTG
$243M
$373K ﹤0.01%
130,714
+28,579
+28% +$76.7K
MBIN icon
1213
Merchants Bancorp
MBIN
$2.48B
$368K ﹤0.01%
+11,142
New +$361K
SLRC icon
1214
SLR Investment Corp
SLRC
$693M
$365K ﹤0.01%
22,600
-16,200
-42% -$259K
FRME icon
1215
First Merchants
FRME
$2.63B
$364K ﹤0.01%
+9,493
New +$351K
PRTA icon
1216
Prothena Corp
PRTA
$482M
$358K ﹤0.01%
58,918
+17,646
+43% +$132K
UVE icon
1217
Universal Insurance Holdings
UVE
$1.21B
$358K ﹤0.01%
12,915
-12,116
-48% -$307K
IDA icon
1218
Idacorp
IDA
$8B
$356K ﹤0.01%
3,084
-4,664
-60% -$540K
AMED
1219
DELISTED
Amedisys
AMED
$355K ﹤0.01%
3,612
-28,807
-89% -$2.73M
SPIR icon
1220
Spire Global
SPIR
$563M
$348K ﹤0.01%
+29,206
New +$295K
FTV icon
1221
Fortive
FTV
$18.3B
$345K ﹤0.01%
+6,613
New +$346K
MD icon
1222
Pediatrix Medical
MD
$2.16B
$343K ﹤0.01%
+23,883
New +$328K
TSHA icon
1223
Taysha Gene Therapies
TSHA
$1.95B
$343K ﹤0.01%
+148,357
New +$322K
PFLT icon
1224
PennantPark Floating Rate Capital
PFLT
$740M
$340K ﹤0.01%
32,900
-38,900
-54% -$394K
VREX icon
1225
Varex Imaging
VREX
$781M
$339K ﹤0.01%
39,123
+9,323
+31% +$76K
47 48
49
50 51

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AA
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OTPPB
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Michael Gelband's Q2 2025 Portfolio in Review

As of Q2 2025, Michael Gelband held 2,093 positions worth $11.4B, up 13% from $10.1B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Michael Gelband deployed $528M of net new capital in Q2 2025, opening 704 new positions and adding to 330 existing holdings. Its largest new stake was Chevron: 424,949 shares worth $60.8M.

By sector, the portfolio is most concentrated in Healthcare at 12% of assets, down from 13% a quarter earlier, followed by Financials and Utilities.

On the sell side, the largest reduction was Xcel Energy, an estimated $137M trimmed.

  • Michael Gelband's largest Q2 2025 buy was Chevron: 424,949 shares worth $60.8M.
  • Michael Gelband added most to Paramount Global Class B in Q2 2025, an estimated $75M increase.
  • Michael Gelband's biggest Q2 2025 reduction was Xcel Energy, cutting an estimated $137M.
  • Michael Gelband fully exited Meta Platforms (Facebook) in Q2 2025, selling an estimated $61.8M.
  • Michael Gelband's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2025.
  • Michael Gelband opened 704 new positions and closed 687 in Q2 2025.
  • Michael Gelband's portfolio value rose 13% quarter-over-quarter to $11.4B.

Based on ExodusPoint Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.