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 |
VMW
VMware, Inc
VMW
|
+$90M |
| 2 |
ExxonMobil
XOM
|
+$88.4M |
| 3 |
Invesco QQQ Trust
QQQ
|
+$87.3M |
| 4 |
NiSource
NI
|
+$81.2M |
| 5 |
CMS Energy
CMS
|
+$70.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Payments
GPN
|
+$356M |
| 2 |
Duke Energy
DUK
|
+$72.3M |
| 3 |
Pinnacle West Capital
PNW
|
+$61M |
| 4 |
Occidental Petroleum
OXY
|
+$59.8M |
| 5 |
MRO
Marathon Oil Corporation
MRO
|
+$58.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 11.65% |
| 2 | Technology | 10.24% |
| 3 | Utilities | 9.2% |
| 4 | Industrials | 8.85% |
| 5 | Energy | 8.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
INFN
1551
DELISTED
Infinera Corporation Common Stock
INFN
| $165K | ﹤0.01% |
39,551
-44,654
| -53% | -$193K |
|
|
ACCD
1552
DELISTED
Accolade Inc
ACCD
| $164K | ﹤0.01% |
+15,498
| New | +$203K |
|
|
CNSL
1553
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
| $162K | ﹤0.01% |
+47,404
| New | +$174K |
|
1554
First Advantage
FA
$3.55B
| $161K | ﹤0.01% |
+11,708
| New | +$170K |
|
1555
Titan International
TWI
$454M
| $161K | ﹤0.01% |
12,024
-32,612
| -73% | -$398K |
|
|
HPP
1556
Hudson Pacific Properties
HPP
$798M
| $160K | ﹤0.01% |
3,447
-16,387
| -83% | -$703K |
|
|
NFBK
1557
DELISTED
Northfield Bancorp
NFBK
| $159K | ﹤0.01% |
+16,808
| New | +$184K |
|
1558
PLAYSTUDIOS Inc
MYPS
$60.3M
| $157K | ﹤0.01% |
+49,320
| New | +$196K |
|
|
HBI
1559
DELISTED
Hanesbrands
HBI
| $156K | ﹤0.01% |
+39,481
| New | +$191K |
|
1560
Kymera Therapeutics
KYMR
$10.1B
| $156K | ﹤0.01% |
11,217
-174,308
| -94% | -$3.5M |
|
1561
OR Royalties Inc
OR
$7.02B
| $156K | ﹤0.01% |
+13,284
| New | +$181K |
|
|
ARR
1562
Armour Residential REIT
ARR
$2.32B
| $155K | ﹤0.01% |
7,283
-24,734
| -77% | -$609K |
|
1563
Future Fuel
FF
$241M
| $154K | ﹤0.01% |
21,458
+6,158
| +40% | +$50.4K |
|
1564
Claros Mortgage Trust
CMTG
$243M
| $150K | ﹤0.01% |
+13,533
| New | +$154K |
|
1565
ProPetro Holding
PUMP
$1.33B
| $149K | ﹤0.01% |
+13,980
| New | +$139K |
|
|
TPC
1566
Tutor Perini Cor
TPC
$4.64B
| $147K | ﹤0.01% |
18,732
-20,406
| -52% | -$168K |
|
1567
LivePerson
LPSN
$33.2M
| $145K | ﹤0.01% |
2,486
-4,138
| -62% | -$272K |
|
1568
Fox Class B
FOX
$25.8B
| $142K | ﹤0.01% |
4,934
-32,454
| -87% | -$994K |
|
1569
Luxfer Holdings
LXFR
$458M
| $141K | ﹤0.01% |
10,834
-5,491
| -34% | -$69.3K |
|
|
SVC
1570
Service Properties Trust
SVC
$1.04B
| $141K | ﹤0.01% |
3,657
-3,955
| -52% | -$165K |
|
1571
PUT
Uber
UBER
$162B
| $138K | ﹤0.01% |
+3,000
| New | +$137K |
|
1572
Farmers National Banc Corp
FMNB
$930M
| $137K | ﹤0.01% |
11,874
-5,454
| -31% | -$69.6K |
|
|
LGTY
1573
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $132K | ﹤0.01% |
11,485
-13,593
| -54% | -$151K |
|
|
VGR
1574
DELISTED
Vector Group Ltd.
VGR
| $132K | ﹤0.01% |
+12,407
| New | +$144K |
|
|
XRN
1575
Chiron Real Estate Inc
XRN
$494M
| $123K | ﹤0.01% |
2,751
-4,288
| -61% | -$206K |
|
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Michael Gelband's Q3 2023 Portfolio in Review
As of Q3 2023, Michael Gelband held 2,289 positions worth $10.5B, down 15% from $12.3B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Michael Gelband withdrew a net $1.43B in Q3 2023, closing 654 positions and reducing 594 holdings. Its most notable exit was Pinnacle West Capital, an estimated $61M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, up from 9.1% a quarter earlier, followed by Technology and Utilities.
Against the trend, Michael Gelband opened a new position in ExxonMobil worth $94.8M.
- Michael Gelband's largest Q3 2023 buy was ExxonMobil: 806,107 shares worth $94.8M.
- Michael Gelband added most to VMware, Inc in Q3 2023, an estimated $90M increase.
- Michael Gelband's biggest Q3 2023 reduction was Global Payments, cutting an estimated $356M.
- Michael Gelband fully exited Pinnacle West Capital in Q3 2023, selling an estimated $61M.
- Michael Gelband's ten largest holdings make up 23% of its $10.5B portfolio in Q3 2023.
- Michael Gelband opened 494 new positions and closed 654 in Q3 2023.
- Michael Gelband's portfolio value fell 15% quarter-over-quarter to $10.5B.
Based on ExodusPoint Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.