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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
+3.35%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$2.86B
AUM Growth
+$344M
Cap. Flow
+$315M
Cap. Flow %
11.01%
Top 10 Hldgs %
23.55%
Holding
1,809
New
745
Increased
318
Reduced
227
Closed
516

Top Buys

Rank Stock Value
1
ARMK icon
Aramark
ARMK
+$65.8M
2
LVS icon
Las Vegas Sands
LVS
+$61.9M
3
ED icon
Consolidated Edison
ED
+$42.4M
4
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$39.1M
5
CMS icon
CMS Energy
CMS
+$29.5M

Top Sells

Rank Stock Value
1
AABA
Altaba Inc
AABA
+$68.3M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$41.1M
3
PNW icon
Pinnacle West Capital
PNW
+$25.6M
4
ES icon
Eversource Energy
ES
+$23.6M
5
FE icon
FirstEnergy
FE
+$15.9M

Sector Composition

Rank Sector Weight
1 Utilities 15.61%
2 Technology 12.98%
3 Industrials 12.91%
4 Consumer Discretionary 9.54%
5 Financials 7.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CACI icon
1351
CACI
CACI
$14.3B
– –
-12,968
Closed -$2.65M
CATO icon
1352
Cato Corp
CATO
$58.3M
– –
-34,469
Closed -$425K
CDNA icon
1353
CareDx
CDNA
$2.51B
– –
-7,838
Closed -$282K
CDW icon
1354
CDW
CDW
$17.2B
– –
-8,272
Closed -$918K
CDZI icon
1355
Cadiz
CDZI
$310M
– –
-17,200
Closed -$194K
CECO icon
1356
Ceco Environmental
CECO
$4.19B
– –
-14,700
Closed -$141K
CHE icon
1357
Chemed
CHE
$7.07B
– –
-860
Closed -$310K
CHKP icon
1358
Check Point Software Technologies
CHKP
$13.3B
– –
-1,962
Closed -$227K
CHRS icon
1359
Coherus Oncology
CHRS
$219M
– –
-104,978
Closed -$2.32M
CIEN icon
1360
Ciena
CIEN
$56B
– –
-83,769
Closed -$3.44M
CIG icon
1361
CEMIG Preferred Shares
CIG
$5.49B
– –
-33,351
Closed -$65K
CLBK icon
1362
Columbia Financial
CLBK
$1.23B
– –
-12,561
Closed -$190K
CLDT
1363
Chatham Lodging
CLDT
$631M
– –
-10,015
Closed -$189K
CLS icon
1364
Celestica
CLS
$37.4B
– –
-11,200
Closed -$76K
CMG icon
1365
Chipotle Mexican Grill
CMG
$46.7B
– –
-209,600
Closed -$3.07M
CMI icon
1366
Cummins
CMI
$80.9B
– –
-2,903
Closed -$497K
CNS icon
1367
Cohen & Steers
CNS
$4.19B
– –
-6,384
Closed -$328K
CNTY icon
1368
Century Casinos
CNTY
$35.7M
– –
-20,400
Closed -$198K
CODA icon
1369
Coda Octopus Group
CODA
$114M
– –
-32,000
Closed -$418K
COHU icon
1370
Cohu
COHU
$2.57B
– –
-14,654
Closed -$226K
COLD icon
1371
Americold
COLD
$4.35B
– –
-22,619
Closed -$733K
COTY icon
1372
Coty
COTY
$2.41B
– –
-16,700
Closed -$224K
CPB icon
1373
Campbell Soup
CPB
$7.14B
– –
-6,135
Closed -$246K
CPRT icon
1374
Copart
CPRT
$31.3B
– –
-21,292
Closed -$398K
CPRI icon
1375
Capri Holdings
CPRI
$1.55B
– –
-12,503
Closed -$434K
53 54
55
56 57

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Michael Gelband's Q3 2019 Portfolio in Review

As of Q3 2019, Michael Gelband held 1,809 positions worth $2.86B, up 14% from $2.51B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Michael Gelband deployed $315M of net new capital in Q3 2019, opening 745 new positions and adding to 318 existing holdings. Its largest new stake was iShares MSCI USA Momentum Factor ETF: 324,777 shares worth $38.7M.

By sector, the portfolio is most concentrated in Utilities at 16% of assets, up from 13% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $41.1M trimmed.

  • Michael Gelband's largest Q3 2019 buy was iShares MSCI USA Momentum Factor ETF: 324,777 shares worth $38.7M.
  • Michael Gelband added most to Aramark in Q3 2019, an estimated $65.8M increase.
  • Michael Gelband's biggest Q3 2019 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $41.1M.
  • Michael Gelband fully exited Altaba Inc in Q3 2019, selling an estimated $68.3M.
  • Michael Gelband's ten largest holdings make up 24% of its $2.86B portfolio in Q3 2019.
  • Michael Gelband opened 745 new positions and closed 516 in Q3 2019.
  • Michael Gelband's portfolio value rose 14% quarter-over-quarter to $2.86B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.