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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
+7.84%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$5.33B
AUM Growth
+$2.47B
Cap. Flow
+$2.23B
Cap. Flow %
41.82%
Top 10 Hldgs %
41.66%
Holding
2,083
New
789
Increased
411
Reduced
285
Closed
597

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$359M
2
AEE icon
Ameren
AEE
+$68.9M
3
CMS icon
CMS Energy
CMS
+$36.8M
4
PYPL icon
PayPal
PYPL
+$35.6M
5
ETR icon
Entergy
ETR
+$31.5M

Top Sells

Rank Stock Value
1
ARMK icon
Aramark
ARMK
+$150M
2
LVS icon
Las Vegas Sands
LVS
+$62.2M
3
AEP icon
American Electric Power
AEP
+$36.3M
4
ORCL icon
Oracle
ORCL
+$30.2M
5
AAPL icon
Apple
AAPL
+$27.7M

Sector Composition

Rank Sector Weight
1 Utilities 13.47%
2 Technology 10.64%
3 Financials 6.44%
4 Consumer Discretionary 5.14%
5 Consumer Staples 4.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EQBK icon
1626
Equity Bancshares
EQBK
$1.03B
– –
-10,600
Closed -$284K
EQT icon
1627
EQT Corp
EQT
$33.6B
– –
-272,687
Closed -$2.9M
ERII icon
1628
Energy Recovery
ERII
$403M
– –
-25,300
Closed -$234K
EMBJ
1629
Embraer S.A. ADS
EMBJ
$13.5B
– –
-36,553
Closed -$631K
ETN icon
1630
Eaton
ETN
$163B
– –
-13,930
Closed -$1.16M
EVH icon
1631
Evolent Health
EVH
$536M
– –
-33,700
Closed -$242K
EVRG icon
1632
Evergy
EVRG
$18.7B
– –
-6,900
Closed -$459K
EVTC icon
1633
Evertec
EVTC
$1.79B
– –
-9,000
Closed -$281K
EWBC icon
1634
East-West Bancorp
EWBC
$17.8B
– –
-10,559
Closed -$468K
EWC icon
1635
iShares MSCI Canada ETF
EWC
$6.6B
$0 ﹤0.01%
+7
New +$204
EWJ icon
1636
iShares MSCI Japan ETF
EWJ
$22.4B
$0 ﹤0.01%
1
-9,945
-100% -$586K
EWS icon
1637
iShares MSCI Singapore ETF
EWS
$1.23B
– –
-28,900
Closed -$670K
EWW icon
1638
iShares MSCI Mexico ETF
EWW
$1.86B
– –
-21,666
Closed -$926K
EXEL icon
1639
Exelixis
EXEL
$13.4B
– –
-12,500
Closed -$221K
EXPO icon
1640
Exponent
EXPO
$3.34B
– –
-3,900
Closed -$273K
EXTR icon
1641
Extreme Networks
EXTR
$3B
– –
-13,200
Closed -$96K
EYE icon
1642
National Vision
EYE
$1.41B
– –
-49,023
Closed -$1.18M
FANG icon
1643
Diamondback Energy
FANG
$59B
– –
-6,029
Closed -$542K
FBK icon
1644
FB Financial Corp
FBK
$2.93B
– –
-8,986
Closed -$337K
FC icon
1645
Franklin Covey
FC
$229M
– –
-6,299
Closed -$220K
FCBC icon
1646
First Community Bankshares
FCBC
$930M
– –
-10,900
Closed -$353K
FCFS icon
1647
FirstCash
FCFS
$9.77B
– –
-4,003
Closed -$367K
FCG icon
1648
First Trust Natural Gas ETF
FCG
$688M
– –
-25,077
Closed -$287K
FDN icon
1649
First Trust Dow Jones Internet Index Fund ETF
FDN
$5.53B
– –
-23,167
Closed -$3.12M
FDX icon
1650
FedEx
FDX
$76.9B
– –
-2,800
Closed -$432K
64 65
66
67 68

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Michael Gelband's Q4 2019 Portfolio in Review

As of Q4 2019, Michael Gelband held 2,083 positions worth $5.33B, up 86% from $2.86B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Michael Gelband deployed $2.23B of net new capital in Q4 2019, opening 789 new positions and adding to 411 existing holdings. Its largest new stake was PayPal: 341,834 shares worth $37M.

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

On the sell side, the largest reduction was Aramark, an estimated $150M trimmed.

  • Michael Gelband's largest Q4 2019 buy was PayPal: 341,834 shares worth $37M.
  • Michael Gelband added most to State Street SPDR S&P 500 ETF Trust in Q4 2019, an estimated $359M increase.
  • Michael Gelband's biggest Q4 2019 reduction was Aramark, cutting an estimated $150M.
  • Michael Gelband fully exited Las Vegas Sands in Q4 2019, selling an estimated $62.2M.
  • Michael Gelband's ten largest holdings make up 42% of its $5.33B portfolio in Q4 2019.
  • Michael Gelband opened 789 new positions and closed 597 in Q4 2019.
  • Michael Gelband's portfolio value rose 86% quarter-over-quarter to $5.33B.

Based on ExodusPoint Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.