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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
BXP icon
1776
Boston Properties
BXP
$10.8B
– –
-3,847
Closed -$251K
BXSL icon
1777
Blackstone Secured Lending
BXSL
$5.77B
– –
-23,300
Closed -$521K
CADE
1778
DELISTED
Cadence Bank
CADE
– –
-40,461
Closed -$998K
CARM
1779
DELISTED
Carisma Therapeutics
CARM
– –
-2,190
Closed -$27K
CAT icon
1780
Caterpillar
CAT
$381B
– –
-82,336
Closed -$19.7M
CBOE icon
1781
Cboe Global Markets
CBOE
$31.4B
– –
-10,448
Closed -$1.31M
CBRL icon
1782
Cracker Barrel
CBRL
$1.29B
– –
-21,244
Closed -$2.01M
CBSH icon
1783
Commerce Bancshares
CBSH
$8.37B
– –
-86,989
Closed -$5.12M
CBU icon
1784
Community Bank
CBU
$3.34B
– –
-10,404
Closed -$655K
CBZ icon
1785
CBIZ
CBZ
$2.97B
– –
-7,387
Closed -$346K
CCI icon
1786
Crown Castle
CCI
$32.1B
– –
-57,245
Closed -$7.76M
CCSI icon
1787
Consensus Cloud Solutions
CCSI
$710M
– –
-5,560
Closed -$299K
CDXS icon
1788
Codexis
CDXS
$183M
– –
-42,922
Closed -$200K
CE icon
1789
Celanese
CE
$5.14B
– –
-60,944
Closed -$6.23M
CEG icon
1790
Constellation Energy
CEG
$96.7B
– –
-34,069
Closed -$2.94M
CERS icon
1791
Cerus
CERS
$566M
– –
-246,629
Closed -$900K
CGBD icon
1792
Carlyle Secured Lending
CGBD
$781M
– –
-21,390
Closed -$306K
CGC
1793
Canopy Growth
CGC
$472M
– –
-4,370
Closed -$101K
CHH icon
1794
Choice Hotels
CHH
$4.93B
– –
-8,899
Closed -$1M
CIGI icon
1795
Colliers International
CIGI
$5.47B
– –
-2,923
Closed -$269K
CLH icon
1796
Clean Harbors
CLH
$16.7B
– –
-16,682
Closed -$1.9M
CLNE icon
1797
Clean Energy Fuels
CLNE
$357M
– –
-1,090,639
Closed -$5.67M
CME icon
1798
CME Group
CME
$98.9B
– –
-129,924
Closed -$21.8M
CMP icon
1799
Compass Minerals
CMP
$1.09B
– –
-30,173
Closed -$1.24M
CNK icon
1800
Cinemark Holdings
CNK
$4.24B
– –
-241,076
Closed -$2.09M
70 71
72
73 74

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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.