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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
+14.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$13.1B
AUM Growth
-$2.14B
Cap. Flow
-$3.3B
Cap. Flow %
-25.17%
Top 10 Hldgs %
30.62%
Holding
2,094
New
695
Increased
393
Reduced
360
Closed
644

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$361M
2
META icon
Meta Platforms (Facebook)
META
+$187M
3
DUK icon
Duke Energy
DUK
+$104M
4
XOM icon
ExxonMobil
XOM
+$102M
5
INTC icon
Intel
INTC
+$66.4M

Top Sells

Rank Stock Value
1
FIS icon
Fidelity National Information Services
FIS
+$399M
2
CMS icon
CMS Energy
CMS
+$119M
3
STZ icon
Constellation Brands
STZ
+$116M
4
XEL icon
Xcel Energy
XEL
+$92.6M
5
GPN icon
Global Payments
GPN
+$86.5M

Sector Composition

Rank Sector Weight
1 Technology 11.86%
2 Utilities 7.16%
3 Healthcare 6.86%
4 Industrials 6.78%
5 Real Estate 5.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OPTU
1476
CALL
Optimum Communications Inc
OPTU
$323M
– –
-300,000
Closed -$975K
OPTU
1477
Optimum Communications Inc
OPTU
$323M
– –
-47,991
Closed -$156K
AUTL
1478
Autolus Therapeutics
AUTL
$641M
– –
-251,361
Closed -$1.62M
AVT icon
1479
Avnet
AVT
$7.27B
– –
-52,605
Closed -$2.65M
AX icon
1480
Axos Financial
AX
$5.48B
– –
-44,297
Closed -$2.42M
DCH
1481
CALL
Dauch Corp
DCH
$1.63B
– –
-200,000
Closed -$1.76M
AZTA icon
1482
Azenta
AZTA
$1.64B
– –
-27,734
Closed -$1.81M
AZO icon
1483
AutoZone
AZO
$48.3B
– –
-11,589
Closed -$30M
BA icon
1484
Boeing
BA
$169B
– –
-151,618
Closed -$31.2M
BAC icon
1485
Bank of America
BAC
$431B
– –
-42,686
Closed -$1.44M
BAND
1486
Bandwidth Inc
BAND
$1.53B
– –
-52,934
Closed -$766K
BBWI icon
1487
Bath & Body Works
BBWI
$3.92B
– –
-22,792
Closed -$984K
BBY icon
1488
Best Buy
BBY
$18.1B
– –
-93,885
Closed -$7.35M
BCAL icon
1489
Southern California Bancorp
BCAL
$687M
– –
-14,468
Closed -$251K
BCC icon
1490
Boise Cascade
BCC
$2.88B
– –
-1,926
Closed -$249K
BCSF icon
1491
Bain Capital Specialty
BCSF
$782M
– –
-30,119
Closed -$454K
BDN
1492
Brandywine Realty Trust
BDN
$522M
– –
-1,142,011
Closed -$6.17M
BDSX icon
1493
Biodesix
BDSX
$281M
– –
-1,198
Closed -$44K
BG icon
1494
Bunge Global
BG
$21.7B
– –
-32,113
Closed -$3.24M
BHF icon
1495
Brighthouse Financial
BHF
$3.01B
– –
-4,869
Closed -$258K
BBT
1496
Beacon Financial Corp
BBT
$2.65B
– –
-32,061
Closed -$796K
BIDU icon
1497
Baidu
BIDU
$31.6B
– –
-11,127
Closed -$1.32M
BIO icon
1498
Bio-Rad Laboratories Class A
BIO
$10.2B
– –
-4,544
Closed -$1.47M
BIPC icon
1499
Brookfield Infrastructure
BIPC
$4.86B
– –
-11,621
Closed -$410K
BMY icon
1500
Bristol-Myers Squibb
BMY
$137B
– –
-101,652
Closed -$5.22M
58 59
60
61 62

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Michael Gelband's Q1 2024 Portfolio in Review

As of Q1 2024, Michael Gelband held 2,094 positions worth $13.1B, down 14% from $15.2B the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Michael Gelband withdrew a net $3.3B in Q1 2024, closing 644 positions and reducing 360 holdings. Its most notable exit was Fidelity National Information Services, an estimated $399M position sold in full.

By sector, the portfolio is most concentrated in Technology at 12% of assets, up from 9.3% a quarter earlier, followed by Utilities and Healthcare.

Against the trend, Michael Gelband opened a new position in Duke Energy worth $106M.

  • Michael Gelband's largest Q1 2024 buy was Duke Energy: 1,098,157 shares worth $106M.
  • Michael Gelband added most to NVIDIA in Q1 2024, an estimated $361M increase.
  • Michael Gelband's biggest Q1 2024 reduction was CMS Energy, cutting an estimated $119M.
  • Michael Gelband fully exited Fidelity National Information Services in Q1 2024, selling an estimated $399M.
  • Michael Gelband's ten largest holdings make up 31% of its $13.1B portfolio in Q1 2024.
  • Michael Gelband opened 695 new positions and closed 644 in Q1 2024.
  • Michael Gelband's portfolio value fell 14% quarter-over-quarter to $13.1B.

Based on ExodusPoint Capital Management's 13F filing for Q1 2024, filed 14 May 2024.