Michael Gelband ExodusPoint Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$359M |
| 2 |
Ameren
AEE
|
+$68.9M |
| 3 |
CMS Energy
CMS
|
+$36.8M |
| 4 |
PayPal
PYPL
|
+$35.6M |
| 5 |
Entergy
ETR
|
+$31.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aramark
ARMK
|
+$150M |
| 2 |
Las Vegas Sands
LVS
|
+$62.2M |
| 3 |
American Electric Power
AEP
|
+$36.3M |
| 4 |
Oracle
ORCL
|
+$30.2M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1751
MasTec
MTZ
$21.4B
| – | – |
-12,153
| Closed | -$789K |
|
1752
Murphy Oil
MUR
$5.36B
| – | – |
-58,848
| Closed | -$1.3M |
|
1753
Murphy USA
MUSA
$10.5B
| – | – |
-2,489
| Closed | -$212K |
|
1754
MYR Group
MYRG
$4.84B
| – | – |
-12,834
| Closed | -$402K |
|
1755
Neurocrine Biosciences
NBIX
$15.5B
| – | – |
-44,746
| Closed | -$4.03M |
|
1756
Newmont
NEM
$139B
| – | – |
-26,513
| Closed | -$1M |
|
1757
NeoGenomics
NEO
$2.18B
| – | – |
-18,100
| Closed | -$346K |
|
1758
Cloudflare
NET
$104B
| – | – |
-30,531
| Closed | -$567K |
|
1759
NewMarket
NEU
$8.62B
| – | – |
-609
| Closed | -$288K |
|
1760
CALL
Netflix
NFLX
$331B
| – | – |
-420,000
| Closed | -$11.2M |
|
1761
NovaGold Resources
NG
$3.83B
| – | – |
-14,600
| Closed | -$89K |
|
1762
National Grid
NGG
$80.2B
| – | – |
-27,565
| Closed | -$1.32M |
|
1763
Natural Gas Services Group
NGS
$458M
| – | – |
-21,224
| Closed | -$272K |
|
1764
Ingevity
NGVT
$2.42B
| – | – |
-2,384
| Closed | -$202K |
|
1765
National Health Investors
NHI
$3.6B
| – | – |
-9,300
| Closed | -$766K |
|
1766
Nice
NICE
$5.87B
| – | – |
-1,763
| Closed | -$254K |
|
1767
NMI Holdings
NMIH
$3.4B
| – | – |
-15,022
| Closed | -$394K |
|
1768
Newmark Group
NMRK
$2.94B
| – | – |
-12,943
| Closed | -$117K |
|
1769
NN Inc
NNBR
$312M
| – | – |
-36,300
| Closed | -$259K |
|
1770
Nokia
NOK
$57B
| – | – |
-122,442
| Closed | -$620K |
|
1771
Nomad Foods
NOMD
$1.65B
| – | – |
-10,159
| Closed | -$208K |
|
1772
NOV
NOV
$7.28B
| – | – |
-15,206
| Closed | -$322K |
|
|
NSA
1773
DELISTED
National Storage Affiliates Trust
NSA
| – | – |
-19,481
| Closed | -$650K |
|
1774
Intellia Therapeutics
NTLA
$1.8B
| – | – |
-13,089
| Closed | -$175K |
|
1775
Natera
NTRA
$47.9B
| – | – |
-29,292
| Closed | -$961K |
|
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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.