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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
DLB icon
1576
Dolby
DLB
$6.11B
– –
-31,385
Closed -$2.52M
DLTR icon
1577
Dollar Tree
DLTR
$25.3B
– –
-39,215
Closed -$2.94M
DMAC icon
1578
DiaMedica Therapeutics
DMAC
$352M
– –
-13,343
Closed -$51K
DNOW icon
1579
DNOW Inc
DNOW
$2.83B
– –
-274,913
Closed -$4.7M
DOMH icon
1580
Dominari Holdings
DOMH
$62.5M
– –
-110,000
Closed -$440K
DOX icon
1581
Amdocs
DOX
$6.41B
– –
-177,059
Closed -$16.2M
DSGX icon
1582
Descartes Systems
DSGX
$6.7B
– –
-11,100
Closed -$1.12M
EAT icon
1583
Brinker International
EAT
$10.6B
– –
-28,612
Closed -$4.26M
EBS icon
1584
Emergent Biosolutions
EBS
$260M
– –
-19,347
Closed -$94K
ECPG icon
1585
Encore Capital Group
ECPG
$2.15B
– –
-15,100
Closed -$518K
EHTH icon
1586
eHealth
EHTH
$39.4M
– –
-24,035
Closed -$161K
EIX icon
1587
Edison International
EIX
$27.5B
– –
-40,220
Closed -$2.37M
EL icon
1588
Estee Lauder
EL
$36.9B
– –
-91,351
Closed -$6.03M
ELDN icon
1589
Eledon Pharmaceuticals
ELDN
$280M
– –
-21,733
Closed -$74K
ELME
1590
Elme Communities
ELME
$148M
– –
-98,064
Closed -$1.71M
ELS icon
1591
Equity Lifestyle Properties
ELS
$12.7B
– –
-239,232
Closed -$16M
ELVN icon
1592
Enliven Therapeutics
ELVN
$4.38B
– –
-33,984
Closed -$669K
ENPH icon
1593
Enphase Energy
ENPH
$5.1B
– –
-7,528
Closed -$467K
ENR icon
1594
Energizer
ENR
$1.47B
– –
-88,100
Closed -$2.64M
EQH icon
1595
Equitable Holdings
EQH
$13.3B
– –
-62,140
Closed -$3.24M
ERIE icon
1596
Erie Indemnity
ERIE
$13.8B
– –
-5,784
Closed -$2.42M
ES icon
1597
Eversource Energy
ES
$26.4B
– –
-70,455
Closed -$4.38M
ESS icon
1598
Essex Property Trust
ESS
$18.6B
– –
-32,565
Closed -$9.98M
ETN icon
1599
Eaton
ETN
$163B
– –
-40,984
Closed -$11.1M
ETON icon
1600
Eton Pharmaceutcials
ETON
$1.81B
– –
-17,102
Closed -$222K
62 63
64
65 66

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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.