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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
+2.79%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$14.6B
AUM Growth
-$1.84B
Cap. Flow
-$1.86B
Cap. Flow %
-12.78%
Top 10 Hldgs %
34.48%
Holding
2,201
New
633
Increased
437
Reduced
361
Closed
764

Top Buys

Rank Stock Value
1
DUK icon
Duke Energy
DUK
+$172M
2
CVX icon
Chevron
CVX
+$99.4M
3
AAPL icon
Apple
AAPL
+$91.7M
4
EVRG icon
Evergy
EVRG
+$89M
5
ED icon
Consolidated Edison
ED
+$86.6M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$412M
2
MDLZ icon
Mondelez International
MDLZ
+$131M
3
JNJ icon
Johnson & Johnson
JNJ
+$107M
4
NI icon
NiSource
NI
+$88.5M
5
PPL
PPL Corp
PPL
+$86.4M

Sector Composition

Rank Sector Weight
1 Financials 9.81%
2 Technology 9.77%
3 Healthcare 7.98%
4 Utilities 7.37%
5 Real Estate 5.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OGN icon
1901
Organon & Co
OGN
$3.61B
– –
-244,006
Closed -$4.67M
ACH
1902
Accendra Health
ACH
$92.3M
– –
-26,801
Closed -$421K
ONEW icon
1903
OneWater Marine
ONEW
$198M
– –
-9,731
Closed -$233K
OPAD icon
1904
Offerpad Solutions
OPAD
$19.9M
– –
-1,366
Closed -$55K
OPY icon
1905
Oppenheimer Holdings
OPY
$1.24B
– –
-6,717
Closed -$344K
ORLA
1906
DELISTED
Orla Mining
ORLA
– –
-20,224
Closed -$81K
OSBC icon
1907
Old Second Bancorp
OSBC
$1.29B
– –
-11,065
Closed -$173K
OTEX icon
1908
Open Text
OTEX
$5.97B
– –
-58,848
Closed -$1.96M
OTLK icon
1909
Outlook Therapeutics
OTLK
$157M
– –
-11,235
Closed -$60K
OUT icon
1910
Outfront Media
OUT
$5.25B
– –
-781,076
Closed -$14.1M
OVV icon
1911
Ovintiv
OVV
$18.5B
– –
-22,860
Closed -$876K
OZK icon
1912
Bank OZK
OZK
$5.39B
– –
-17,196
Closed -$786K
PAHC icon
1913
Phibro Animal Health
PAHC
$1.47B
– –
-20,800
Closed -$468K
PANL icon
1914
Pangaea Logistics
PANL
$533M
– –
-56,930
Closed -$412K
PANW icon
1915
CALL
Palo Alto Networks
PANW
$292B
– –
-2,400
Closed -$410K
PANW icon
1916
Palo Alto Networks
PANW
$292B
– –
-73,064
Closed -$12.5M
PANW icon
1917
PUT
Palo Alto Networks
PANW
$292B
– –
-2,400
Closed -$410K
PBI icon
1918
Pitney Bowes
PBI
$2.26B
– –
-75,815
Closed -$541K
PBYI icon
1919
Puma Biotechnology
PBYI
$477M
– –
-30,905
Closed -$79K
PCAR icon
1920
PACCAR
PCAR
$69B
– –
-200,833
Closed -$19.8M
PCG icon
1921
PG&E
PCG
$38.8B
– –
-434,076
Closed -$8.58M
PDD icon
1922
Pinduoduo
PDD
$126B
– –
-23,788
Closed -$3.21M
PEB icon
1923
Pebblebrook Hotel Trust
PEB
$2.09B
– –
-133,121
Closed -$1.76M
PEBK icon
1924
Peoples Bancorp of North Carolina
PEBK
$236M
– –
-15,990
Closed -$406K
PEN icon
1925
Penumbra
PEN
$12.8B
– –
-65,992
Closed -$12.8M
75 76
77
78 79

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Michael Gelband's Q4 2024 Portfolio in Review

As of Q4 2024, Michael Gelband held 2,201 positions worth $14.6B, down 11% from $16.4B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Michael Gelband withdrew a net $1.86B in Q4 2024, closing 764 positions and reducing 361 holdings. Its most notable exit was Mondelez International, an estimated $131M position sold in full.

By sector, the portfolio is most concentrated in Financials at 9.8% of assets, up from 4.6% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Michael Gelband opened a new position in Duke Energy worth $164M.

  • Michael Gelband's largest Q4 2024 buy was Duke Energy: 1,520,504 shares worth $164M.
  • Michael Gelband added most to Chevron in Q4 2024, an estimated $99.4M increase.
  • Michael Gelband's biggest Q4 2024 reduction was Microsoft, cutting an estimated $412M.
  • Michael Gelband fully exited Mondelez International in Q4 2024, selling an estimated $131M.
  • Michael Gelband's ten largest holdings make up 34% of its $14.6B portfolio in Q4 2024.
  • Michael Gelband opened 633 new positions and closed 764 in Q4 2024.
  • Michael Gelband's portfolio value fell 11% quarter-over-quarter to $14.6B.

Based on ExodusPoint Capital Management's 13F filing for Q4 2024, filed 12 Feb 2025.