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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
+4.88%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$12.7B
AUM Growth
+$2.96B
Cap. Flow
+$2.85B
Cap. Flow %
22.37%
Top 10 Hldgs %
30.34%
Holding
2,189
New
723
Increased
409
Reduced
328
Closed
716

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$689M
2
AVGO icon
Broadcom
AVGO
+$153M
3
WMT icon
Walmart Inc
WMT
+$136M
4
AMZN icon
Amazon
AMZN
+$104M
5
IVV icon
iShares Core S&P 500 ETF
IVV
+$102M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$71.5M
2
PNW icon
Pinnacle West Capital
PNW
+$49.1M
3
PG icon
Procter & Gamble
PG
+$43.7M
4
CVX icon
Chevron
CVX
+$43.1M
5
HSY icon
Hershey
HSY
+$43M

Sector Composition

Rank Sector Weight
1 Technology 19.62%
2 Healthcare 9.42%
3 Industrials 7.55%
4 Financials 6.82%
5 Consumer Discretionary 6.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CHWY icon
1601
Chewy
CHWY
$9.83B
– –
-134,021
Closed -$5.42M
CIEN icon
1602
CALL
Ciena
CIEN
$56B
– –
-700
Closed -$102K
CIFR icon
1603
CALL
Cipher Digital
CIFR
$6.55B
– –
-118,000
Closed -$1.49M
CIFR icon
1604
Cipher Digital
CIFR
$6.55B
– –
-204,187
Closed -$2.57M
CINF icon
1605
Cincinnati Financial
CINF
$25.8B
– –
-23,988
Closed -$3.79M
CLDT
1606
Chatham Lodging
CLDT
$631M
– –
-65,192
Closed -$437K
CLH icon
1607
Clean Harbors
CLH
$16.7B
– –
-18,176
Closed -$4.22M
CLMT icon
1608
Calumet Specialty Products
CLMT
$4.31B
– –
-31,023
Closed -$566K
CLSK icon
1609
CALL
CleanSpark
CLSK
$3.08B
– –
-128,900
Closed -$1.87M
CLSK icon
1610
CleanSpark
CLSK
$3.08B
– –
-217,417
Closed -$3.15M
CLW icon
1611
Clearwater Paper
CLW
$351M
– –
-14,511
Closed -$301K
CMA
1612
CALL
DELISTED
Comerica
CMA
– –
-150,000
Closed -$10.3M
CME icon
1613
CME Group
CME
$98.9B
– –
-9,736
Closed -$2.63M
CMPR icon
1614
Cimpress
CMPR
$2.13B
– –
-38,518
Closed -$2.43M
CMRE icon
1615
Costamare
CMRE
$1.89B
– –
-117,780
Closed -$1.4M
CNP icon
1616
CenterPoint Energy
CNP
$25.5B
– –
-257,900
Closed -$10M
COCO icon
1617
Vita Coco
COCO
$3.67B
– –
-122,702
Closed -$5.21M
COF icon
1618
CALL
Capital One
COF
$134B
– –
-55,000
Closed -$11.7M
COF icon
1619
Capital One
COF
$134B
– –
-109,314
Closed -$23.2M
COHR icon
1620
CALL
Coherent
COHR
$56.7B
– –
-700
Closed -$75.5K
COIN icon
1621
CALL
Coinbase
COIN
$49.2B
– –
-5,000
Closed -$1.69M
COIN icon
1622
PUT
Coinbase
COIN
$49.2B
– –
-5,000
Closed -$1.69M
COLM icon
1623
Columbia Sportswear
COLM
$3.09B
– –
-104,416
Closed -$5.46M
VISN
1624
Vistance Networks Inc
VISN
$2.59B
– –
-325,537
Closed -$5.04M
COMP icon
1625
CALL
Compass
COMP
$9.02B
– –
-70,000
Closed -$562K
63 64
65
66 67

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Michael Gelband's Q4 2025 Portfolio in Review

As of Q4 2025, Michael Gelband held 2,189 positions worth $12.7B, up 30% from $9.79B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Michael Gelband deployed $2.85B of net new capital in Q4 2025, opening 723 new positions and adding to 409 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 150,000 shares worth $103M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 15% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was Procter & Gamble, an estimated $43.7M trimmed.

  • Michael Gelband's largest Q4 2025 buy was iShares Core S&P 500 ETF: 150,000 shares worth $103M.
  • Michael Gelband added most to NVIDIA in Q4 2025, an estimated $689M increase.
  • Michael Gelband's biggest Q4 2025 reduction was Procter & Gamble, cutting an estimated $43.7M.
  • Michael Gelband fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $71.5M.
  • Michael Gelband's ten largest holdings make up 30% of its $12.7B portfolio in Q4 2025.
  • Michael Gelband opened 723 new positions and closed 716 in Q4 2025.
  • Michael Gelband's portfolio value rose 30% quarter-over-quarter to $12.7B.

Based on ExodusPoint Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.