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 |
PARA
Paramount Global Class B
PARA
|
+$75M |
| 2 |
Chevron
CVX
|
+$59.9M |
| 3 |
GE HealthCare
GEHC
|
+$57.5M |
| 4 |
Applovin
APP
|
+$54.7M |
| 5 |
OKLO
Oklo
OKLO
|
+$52.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Xcel Energy
XEL
|
+$137M |
| 2 |
Meta Platforms (Facebook)
META
|
+$61.8M |
| 3 |
Becton Dickinson
BDX
|
+$59.9M |
| 4 |
CRWV
CoreWeave
CRWV
|
+$57.1M |
| 5 |
Apple
AAPL
|
+$50.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 11.73% |
| 2 | Financials | 9.81% |
| 3 | Utilities | 8.63% |
| 4 | Technology | 7.6% |
| 5 | Industrials | 7.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1901
Transocean
RIG
$6.61B
| – | – |
-1,171,432
| Closed | -$3.71M |
|
1902
Rithm Capital
RITM
$5.69B
| – | – |
-248,638
| Closed | -$2.85M |
|
1903
Rocket Companies
RKT
$39.4B
| – | – |
-152,497
| Closed | -$1.98M |
|
1904
RLJ Lodging Trust
RLJ
$1.75B
| – | – |
-75,441
| Closed | -$595K |
|
1905
Rambus
RMBS
$9.9B
| – | – |
-38,249
| Closed | -$1.98M |
|
1906
RenaissanceRe
RNR
$13.4B
| – | – |
-12,320
| Closed | -$2.96M |
|
1907
Rapid7
RPD
$799M
| – | – |
-100,469
| Closed | -$2.66M |
|
1908
Richtech Robotics
RR
$380M
| – | – |
-10,926
| Closed | -$22K |
|
1909
RTX Corp
RTX
$283B
| – | – |
-80,729
| Closed | -$10.7M |
|
1910
Sunrun
RUN
$2.21B
| – | – |
-343,156
| Closed | -$2.01M |
|
1911
RxSight
RXST
$260M
| – | – |
-15,944
| Closed | -$403K |
|
1912
Rackspace Technology
RXT
$846M
| – | – |
-153,897
| Closed | -$260K |
|
1913
Rezolute
RZLT
$490M
| – | – |
-18,246
| Closed | -$53K |
|
|
ECHO
1914
EchoStar
ECHO
$25.2B
| – | – |
-380,490
| Closed | -$8.36M |
|
1915
Star Bulk Carriers
SBLK
$3.41B
| – | – |
-76,944
| Closed | -$1.2M |
|
1916
Starbucks
SBUX
$122B
| – | – |
-95,135
| Closed | -$9.33M |
|
1917
Scholastic
SCHL
$757M
| – | – |
-108,344
| Closed | -$2.05M |
|
1918
Stepan Co
SCL
$1.45B
| – | – |
-26,710
| Closed | -$1.47M |
|
1919
SunCar Technology Group
SDA
$75.4M
| – | – |
-51,759
| Closed | -$213K |
|
1920
Vivid Seats
SEAT
$77.5M
| – | – |
-4,381
| Closed | -$259K |
|
1921
Shake Shack
SHAK
$3.06B
| – | – |
-117,497
| Closed | -$10.4M |
|
1922
Steven Madden
SHOO
$3.37B
| – | – |
-130,726
| Closed | -$3.48M |
|
1923
Shopify
SHOP
$192B
| – | – |
-200,839
| Closed | -$19.2M |
|
|
HTO
1924
H2O America
HTO
$2.66B
| – | – |
-24,393
| Closed | -$1.33M |
|
1925
Skyward Specialty Insurance
SKWD
$2.31B
| – | – |
-8,400
| Closed | -$445K |
|
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Michael Gelband's Q2 2025 Portfolio in Review
As of Q2 2025, Michael Gelband held 2,093 positions worth $11.4B, up 13% from $10.1B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Michael Gelband deployed $528M of net new capital in Q2 2025, opening 704 new positions and adding to 330 existing holdings. Its largest new stake was Chevron: 424,949 shares worth $60.8M.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, down from 13% a quarter earlier, followed by Financials and Utilities.
On the sell side, the largest reduction was Xcel Energy, an estimated $137M trimmed.
- Michael Gelband's largest Q2 2025 buy was Chevron: 424,949 shares worth $60.8M.
- Michael Gelband added most to Paramount Global Class B in Q2 2025, an estimated $75M increase.
- Michael Gelband's biggest Q2 2025 reduction was Xcel Energy, cutting an estimated $137M.
- Michael Gelband fully exited Meta Platforms (Facebook) in Q2 2025, selling an estimated $61.8M.
- Michael Gelband's ten largest holdings make up 25% of its $11.4B portfolio in Q2 2025.
- Michael Gelband opened 704 new positions and closed 687 in Q2 2025.
- Michael Gelband's portfolio value rose 13% quarter-over-quarter to $11.4B.
Based on ExodusPoint Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.