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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
+10.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$15.2B
AUM Growth
+$4.78B
Cap. Flow
+$3.57B
Cap. Flow %
23.39%
Top 10 Hldgs %
44.86%
Holding
2,187
New
553
Increased
436
Reduced
404
Closed
789

Top Buys

Rank Stock Value
1
FIS icon
Fidelity National Information Services
FIS
+$365M
2
GPN icon
Global Payments
GPN
+$250M
3
NI icon
NiSource
NI
+$109M
4
STZ icon
Constellation Brands
STZ
+$107M
5
XEL icon
Xcel Energy
XEL
+$105M

Top Sells

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$95.7M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$89.4M
3
XOM icon
ExxonMobil
XOM
+$84.7M
4
SO icon
Southern Company
SO
+$79.2M
5
EMR icon
Emerson Electric
EMR
+$61.3M

Sector Composition

Rank Sector Weight
1 Technology 9.26%
2 Industrials 7.84%
3 Utilities 7.6%
4 Healthcare 5.4%
5 Real Estate 4.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HALO icon
1701
Halozyme
HALO
$12.3B
– –
-52,558
Closed -$2.01M
HAS icon
1702
Hasbro
HAS
$13.2B
– –
-28,529
Closed -$1.89M
HBI
1703
DELISTED
Hanesbrands
HBI
– –
-39,481
Closed -$156K
HBM icon
1704
Hudbay
HBM
$13.4B
– –
-61,048
Closed -$297K
HBNC icon
1705
Horizon Bancorp
HBNC
$1B
– –
-40,028
Closed -$427K
HCA icon
1706
HCA Healthcare
HCA
$92.9B
– –
-16,619
Closed -$4.11M
HCC icon
1707
Warrior Met Coal
HCC
$5.64B
– –
-22,900
Closed -$1.17M
HCKT icon
1708
Hackett Group
HCKT
$276M
– –
-21,338
Closed -$503K
HD icon
1709
Home Depot
HD
$335B
– –
-27,592
Closed -$8.34M
HEES
1710
DELISTED
H&E Equipment Services
HEES
– –
-30,530
Closed -$1.32M
HEI icon
1711
HEICO Corp
HEI
$49.6B
– –
-19,733
Closed -$3.19M
HIMS icon
1712
Hims & Hers Health
HIMS
$7.88B
– –
-55,282
Closed -$348K
HIW icon
1713
Highwoods Properties
HIW
$3.46B
– –
-61,186
Closed -$1.26M
HL icon
1714
Hecla Mining
HL
$13.9B
– –
-96,082
Closed -$376K
HLI icon
1715
Houlihan Lokey
HLI
$9.02B
– –
-2,982
Closed -$319K
HLNE icon
1716
Hamilton Lane
HLNE
$4.57B
– –
-25,935
Closed -$2.35M
HOG icon
1717
Harley-Davidson
HOG
$2.93B
– –
-32,686
Closed -$1.08M
HOOD icon
1718
Robinhood
HOOD
$97.2B
– –
-111,451
Closed -$1.09M
HOUS
1719
DELISTED
Anywhere Real Estate
HOUS
– –
-159,859
Closed -$1.03M
HP icon
1720
Helmerich & Payne
HP
$4.35B
– –
-246,264
Closed -$10.4M
HRB icon
1721
H&R Block
HRB
$6.62B
– –
-8,440
Closed -$363K
HSIC icon
1722
Henry Schein
HSIC
$9.86B
– –
-47,975
Closed -$3.56M
HTHT icon
1723
Huazhu Hotels Group
HTHT
$15.1B
– –
-49,836
Closed -$1.97M
HTLD icon
1724
Heartland Express
HTLD
$993M
– –
-18,778
Closed -$276K
HWKN icon
1725
Hawkins
HWKN
$2.48B
– –
-9,572
Closed -$563K
67 68
69
70 71

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Michael Gelband's Q4 2023 Portfolio in Review

As of Q4 2023, Michael Gelband held 2,187 positions worth $15.2B, up 46% from $10.5B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Michael Gelband deployed $3.57B of net new capital in Q4 2023, opening 553 new positions and adding to 436 existing holdings. Its largest new stake was Fidelity National Information Services: 6,650,397 shares worth $399M.

By sector, the portfolio is most concentrated in Technology at 9.3% of assets, down from 10% a quarter earlier, followed by Industrials and Utilities.

On the sell side, the largest reduction was Merck, an estimated $48.2M trimmed.

  • Michael Gelband's largest Q4 2023 buy was Fidelity National Information Services: 6,650,397 shares worth $399M.
  • Michael Gelband added most to Global Payments in Q4 2023, an estimated $250M increase.
  • Michael Gelband's biggest Q4 2023 reduction was Merck, cutting an estimated $48.2M.
  • Michael Gelband fully exited VMware, Inc in Q4 2023, selling an estimated $95.7M.
  • Michael Gelband's ten largest holdings make up 45% of its $15.2B portfolio in Q4 2023.
  • Michael Gelband opened 553 new positions and closed 789 in Q4 2023.
  • Michael Gelband's portfolio value rose 46% quarter-over-quarter to $15.2B.

Based on ExodusPoint Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.