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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
+11.78%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$9.79B
AUM Growth
-$1.62B
Cap. Flow
-$2.29B
Cap. Flow %
-23.44%
Top 10 Hldgs %
25.19%
Holding
2,139
New
733
Increased
336
Reduced
386
Closed
673

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$272M
2
META icon
Meta Platforms (Facebook)
META
+$79.7M
3
NVDA icon
NVIDIA
NVDA
+$74.6M
4
PG icon
Procter & Gamble
PG
+$60.5M
5
MSFT icon
Microsoft
MSFT
+$58.1M

Top Sells

Rank Stock Value
1
PARA
Paramount Global Class B
PARA
+$158M
2
PPL
PPL Corp
PPL
+$113M
3
SO icon
Southern Company
SO
+$111M
4
DHR icon
Danaher
DHR
+$106M
5
ETR icon
Entergy
ETR
+$84.5M

Sector Composition

Rank Sector Weight
1 Technology 14.92%
2 Industrials 9.39%
3 Financials 9.29%
4 Consumer Discretionary 7.56%
5 Utilities 6.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
O icon
1876
Realty Income
O
$59.2B
– –
-51,343
Closed -$2.96M
OCGN icon
1877
Ocugen
OCGN
$471M
– –
-30,824
Closed -$30K
OHI icon
1878
Omega Healthcare
OHI
$14.1B
– –
-272,226
Closed -$9.98M
OIH icon
1879
PUT
VanEck Oil Services ETF
OIH
$1.95B
– –
-168,000
Closed -$41.8M
OLMA icon
1880
Olema Pharmaceuticals
OLMA
$935M
– –
-58,980
Closed -$251K
OLO
1881
DELISTED
Olo Inc
OLO
– –
-20,529
Closed -$183K
ON icon
1882
CALL
ON Semiconductor
ON
$28.9B
– –
-3,500
Closed -$183K
OOMA icon
1883
Ooma
OOMA
$605M
– –
-34,138
Closed -$440K
OR icon
1884
OR Royalties Inc
OR
$6.76B
– –
-62,931
Closed -$1.62M
ORI icon
1885
Old Republic International
ORI
$10B
– –
-37,333
Closed -$1.44M
ORRF icon
1886
Orrstown Financial Services
ORRF
$827M
– –
-21,599
Closed -$687K
OTTR icon
1887
Otter Tail
OTTR
$3.81B
– –
-37,695
Closed -$2.91M
OUST icon
1888
Ouster
OUST
$2.77B
– –
-15,660
Closed -$380K
OWL icon
1889
Blue Owl Capital
OWL
$18.2B
– –
-698,558
Closed -$13.4M
OVV icon
1890
Ovintiv
OVV
$18.5B
– –
-49,307
Closed -$1.88M
PACB icon
1891
Pacific Biosciences
PACB
$420M
– –
-25,573
Closed -$32K
PACK icon
1892
Ranpak Holdings
PACK
$436M
– –
-14,658
Closed -$52K
PAG icon
1893
Penske Automotive Group
PAG
$14.2B
– –
-11,285
Closed -$1.94M
PARR icon
1894
Par Pacific Holdings
PARR
$3.96B
– –
-88,035
Closed -$2.34M
PARA
1895
CALL
DELISTED
Paramount Global Class B
PARA
– –
-185,000
Closed -$2.39M
PARA
1896
DELISTED
Paramount Global Class B
PARA
– –
-12,211,105
Closed -$158M
PARA
1897
PUT
DELISTED
Paramount Global Class B
PARA
– –
-151,100
Closed -$1.95M
PATK icon
1898
Patrick Industries
PATK
$2.68B
– –
-25,387
Closed -$2.34M
PAYC icon
1899
Paycom
PAYC
$10.3B
– –
-20,559
Closed -$4.76M
PBF icon
1900
PBF Energy
PBF
$8.72B
– –
-244,333
Closed -$5.29M
74 75
76
77 78

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AA
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OTPPB
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NMIFOAC
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Michael Gelband's Q3 2025 Portfolio in Review

As of Q3 2025, Michael Gelband held 2,139 positions worth $9.79B, down 14% from $11.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Michael Gelband withdrew a net $2.29B in Q3 2025, closing 673 positions and reducing 386 holdings. Its most notable exit was Paramount Global Class B, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Technology at 15% of assets, up from 7.6% a quarter earlier, followed by Industrials and Financials.

Against the trend, Michael Gelband opened a new position in Apple worth $306M.

  • Michael Gelband's largest Q3 2025 buy was Apple: 1,202,327 shares worth $306M.
  • Michael Gelband added most to Procter & Gamble in Q3 2025, an estimated $60.5M increase.
  • Michael Gelband's biggest Q3 2025 reduction was PPL Corp, cutting an estimated $113M.
  • Michael Gelband fully exited Paramount Global Class B in Q3 2025, selling an estimated $158M.
  • Michael Gelband's ten largest holdings make up 25% of its $9.79B portfolio in Q3 2025.
  • Michael Gelband opened 733 new positions and closed 673 in Q3 2025.
  • Michael Gelband's portfolio value fell 14% quarter-over-quarter to $9.79B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.