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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
+3.28%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$12.1B
AUM Growth
+$5.18B
Cap. Flow
+$5.01B
Cap. Flow %
41.5%
Top 10 Hldgs %
21.6%
Holding
2,250
New
668
Increased
659
Reduced
374
Closed
543

Top Buys

Rank Stock Value
1
EXC icon
Exelon
EXC
+$101M
2
PPL
PPL Corp
PPL
+$72.8M
3
OXY icon
Occidental Petroleum
OXY
+$62.9M
4
DUK icon
Duke Energy
DUK
+$61.4M
5
FDX icon
FedEx
FDX
+$60M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$52.9M
2
APA icon
APA Corp
APA
+$51.1M
3
TTC icon
Toro Company
TTC
+$34.3M
4
CNH
CNH Industrial
CNH
+$32.6M
5
ETR icon
Entergy
ETR
+$30.1M

Sector Composition

Rank Sector Weight
1 Industrials 10.84%
2 Technology 10.75%
3 Healthcare 9.82%
4 Utilities 8.33%
5 Energy 7.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BA icon
1751
PUT
Boeing
BA
$169B
– –
-2,000
Closed -$381K
BAH icon
1752
Booz Allen Hamilton
BAH
$9.27B
– –
-5,085
Closed -$531K
BANC icon
1753
Banc of California
BANC
$2.95B
– –
-15,841
Closed -$252K
BANF icon
1754
BancFirst
BANF
$3.79B
– –
-16,052
Closed -$1.42M
BANR icon
1755
Banner Corp
BANR
$2.42B
– –
-7,801
Closed -$493K
BBWI icon
1756
Bath & Body Works
BBWI
$3.92B
– –
-34,045
Closed -$1.44M
BBY icon
1757
PUT
Best Buy
BBY
$18.1B
– –
-280,000
Closed -$22.5M
BCO icon
1758
Brink's
BCO
$4.59B
– –
-14,271
Closed -$766K
BCSF icon
1759
Bain Capital Specialty
BCSF
$782M
– –
-31,139
Closed -$371K
BEPC icon
1760
Brookfield Renewable
BEPC
$6.17B
– –
-32,679
Closed -$900K
BFLY icon
1761
Butterfly Network
BFLY
$2.54B
– –
-126,982
Closed -$312K
CMRC
1762
Commerce.com Inc Series 1
CMRC
$184M
– –
-125,604
Closed -$1.1M
BIO.B icon
1763
Bio-Rad Laboratories Class B
BIO.B
$9.76B
$0 ﹤0.01%
+1
New +$464
BIPC icon
1764
Brookfield Infrastructure
BIPC
$4.86B
– –
-25,921
Closed -$1.01M
BIRD icon
1765
Smartbird Inc
BIRD
$28.9M
– –
-898
Closed -$43K
BLCO icon
1766
Bausch + Lomb
BLCO
$6.16B
– –
-18,215
Closed -$283K
BLND icon
1767
Blend Labs
BLND
$360M
– –
-23,001
Closed -$33K
BLUE
1768
DELISTED
bluebird bio
BLUE
– –
-5,346
Closed -$740K
BMI icon
1769
Badger Meter
BMI
$3.82B
– –
-17,031
Closed -$1.86M
BNTX icon
1770
BioNTech
BNTX
$29.3B
– –
-51,782
Closed -$7.78M
BP icon
1771
BP
BP
$115B
– –
-390,000
Closed -$13.6M
BRY
1772
DELISTED
Berry Corp
BRY
– –
-126,978
Closed -$1.02M
BTU icon
1773
Peabody Energy
BTU
$3.37B
– –
-21,305
Closed -$566K
BWXT icon
1774
BWX Technologies
BWXT
$14.4B
– –
-6,562
Closed -$381K
BX icon
1775
Blackstone
BX
$108B
– –
-47,239
Closed -$3.5M
69 70
71
72 73

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Michael Gelband's Q1 2023 Portfolio in Review

As of Q1 2023, Michael Gelband held 2,250 positions worth $12.1B, up 75% from $6.89B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Michael Gelband deployed $5.01B of net new capital in Q1 2023, opening 668 new positions and adding to 659 existing holdings. Its largest new stake was Valero Energy: 333,288 shares worth $46.5M.

By sector, the portfolio is most concentrated in Industrials at 11% of assets, down from 16% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was Apple, an estimated $52.9M trimmed.

  • Michael Gelband's largest Q1 2023 buy was Valero Energy: 333,288 shares worth $46.5M.
  • Michael Gelband added most to Exelon in Q1 2023, an estimated $101M increase.
  • Michael Gelband's biggest Q1 2023 reduction was Apple, cutting an estimated $52.9M.
  • Michael Gelband fully exited APA Corp in Q1 2023, selling an estimated $51.1M.
  • Michael Gelband's ten largest holdings make up 22% of its $12.1B portfolio in Q1 2023.
  • Michael Gelband opened 668 new positions and closed 543 in Q1 2023.
  • Michael Gelband's portfolio value rose 75% quarter-over-quarter to $12.1B.

Based on ExodusPoint Capital Management's 13F filing for Q1 2023, filed 11 May 2023.