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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
-2.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$10.5B
AUM Growth
-$1.83B
Cap. Flow
-$1.43B
Cap. Flow %
-13.63%
Top 10 Hldgs %
22.85%
Holding
2,289
New
494
Increased
544
Reduced
594
Closed
654

Top Buys

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$90M
2
XOM icon
ExxonMobil
XOM
+$88.4M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$87.3M
4
NI icon
NiSource
NI
+$81.2M
5
CMS icon
CMS Energy
CMS
+$70.2M

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$356M
2
DUK icon
Duke Energy
DUK
+$72.3M
3
PNW icon
Pinnacle West Capital
PNW
+$61M
4
OXY icon
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
AIN icon
1651
Albany International
AIN
$1.66B
– –
-27,697
Closed -$2.58M
AIR icon
1652
AAR Corp
AIR
$5.42B
– –
-48,249
Closed -$2.79M
ALB icon
1653
Albemarle
ALB
$16.7B
– –
-61,482
Closed -$13.7M
ALEC icon
1654
Alector
ALEC
$257M
– –
-23,366
Closed -$140K
ALGT icon
1655
Allegiant Air
ALGT
$2.23B
– –
-9,788
Closed -$1.24M
ALKT icon
1656
Alkami Technology
ALKT
$2.17B
– –
-18,070
Closed -$296K
ALLY icon
1657
Ally Financial
ALLY
$12.9B
– –
-37,456
Closed -$1.01M
ALRM icon
1658
Alarm.com
ALRM
$2.83B
– –
-63,521
Closed -$3.28M
ALSN icon
1659
Allison Transmission
ALSN
$10.8B
– –
-74,971
Closed -$4.23M
ALV icon
1660
Autoliv
ALV
$9.02B
– –
-36,950
Closed -$3.14M
AMC icon
1661
AMC Entertainment Holdings
AMC
$2.38B
– –
-10,851
Closed -$322K
AMC icon
1662
PUT
AMC Entertainment Holdings
AMC
$2.38B
– –
-23,430
Closed -$1.03M
AMCX icon
1663
AMC Global Media
AMCX
$512M
– –
-18,529
Closed -$221K
AMD icon
1664
CALL
Advanced Micro Devices
AMD
$746B
– –
-268,600
Closed -$30.6M
AMD icon
1665
PUT
Advanced Micro Devices
AMD
$746B
– –
-38,300
Closed -$4.36M
AMGN icon
1666
Amgen
AMGN
$240B
– –
-25,788
Closed -$5.72M
AMN icon
1667
AMN Healthcare
AMN
$1.34B
– –
-20,304
Closed -$2.22M
AMR icon
1668
Alpha Metallurgical Resources
AMR
$2.66B
– –
-1,418
Closed -$233K
AMX icon
1669
America Movil
AMX
$71.3B
– –
-14,902
Closed -$322K
AMZN icon
1670
CALL
Amazon
AMZN
$2.83T
– –
-272,400
Closed -$35.5M
AMZN icon
1671
PUT
Amazon
AMZN
$2.83T
– –
-175,700
Closed -$22.9M
ANGI icon
1672
Angi Inc
ANGI
$200M
– –
-2,726
Closed -$90K
ANIK icon
1673
Anika Therapeutics
ANIK
$286M
– –
-10,236
Closed -$266K
APD icon
1674
Air Products & Chemicals
APD
$68.2B
– –
-146,403
Closed -$43.9M
APLS
1675
DELISTED
Apellis Pharmaceuticals
APLS
– –
-33,187
Closed -$3.02M
65 66
67
68 69

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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.