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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
+10.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$15.2B
AUM Growth
+$4.78B
Cap. Flow
+$3.57B
Cap. Flow %
23.39%
Top 10 Hldgs %
44.86%
Holding
2,187
New
553
Increased
436
Reduced
404
Closed
789

Top Buys

Rank Stock Value
1
FIS icon
Fidelity National Information Services
FIS
+$365M
2
GPN icon
Global Payments
GPN
+$250M
3
NI icon
NiSource
NI
+$109M
4
STZ icon
Constellation Brands
STZ
+$107M
5
XEL icon
Xcel Energy
XEL
+$105M

Top Sells

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$95.7M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$89.4M
3
XOM icon
ExxonMobil
XOM
+$84.7M
4
SO icon
Southern Company
SO
+$79.2M
5
EMR icon
Emerson Electric
EMR
+$61.3M

Sector Composition

Rank Sector Weight
1 Technology 9.26%
2 Industrials 7.84%
3 Utilities 7.6%
4 Healthcare 5.4%
5 Real Estate 4.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PLMR icon
1926
Palomar
PLMR
$3.42B
– –
-6,203
Closed -$315K
PLOW icon
1927
Douglas Dynamics
PLOW
$973M
– –
-23,684
Closed -$715K
PLUG icon
1928
Plug Power
PLUG
$3.17B
– –
-29,516
Closed -$224K
PLXS icon
1929
Plexus
PLXS
$6.4B
– –
-16,358
Closed -$1.52M
PMVP icon
1930
PMV Pharmaceuticals
PMVP
$71.1M
– –
-38,238
Closed -$235K
PNC icon
1931
PNC Financial Services
PNC
$97B
– –
-59,968
Closed -$7.36M
POWI icon
1932
Power Integrations
POWI
$3.08B
– –
-30,185
Closed -$2.3M
PPC icon
1933
Pilgrim's Pride
PPC
$7.68B
– –
-41,352
Closed -$944K
PRA
1934
DELISTED
ProAssurance
PRA
– –
-14,419
Closed -$272K
PRIM icon
1935
Primoris Services
PRIM
$4.15B
– –
-130,432
Closed -$4.27M
PRLB icon
1936
Protolabs
PRLB
$1.9B
– –
-48,602
Closed -$1.28M
PRM icon
1937
Perimeter Solutions
PRM
$5.15B
– –
-45,810
Closed -$208K
PRTA icon
1938
Prothena Corp
PRTA
$485M
– –
-60,853
Closed -$2.94M
PSX icon
1939
Phillips 66
PSX
$96.9B
– –
-138,290
Closed -$16.6M
PTCT icon
1940
PTC Therapeutics
PTCT
$5.83B
– –
-23,483
Closed -$526K
PTEN icon
1941
Patterson-UTI
PTEN
$4.71B
– –
-1,031,627
Closed -$14.3M
PTGX icon
1942
Protagonist Therapeutics
PTGX
$9.99B
– –
-177,125
Closed -$2.95M
PUMP icon
1943
ProPetro Holding
PUMP
$1.39B
– –
-13,980
Closed -$149K
PYXS icon
1944
Pyxis Oncology
PYXS
$257M
– –
-415,072
Closed -$826K
QLYS icon
1945
Qualys
QLYS
$6.3B
– –
-31,822
Closed -$4.85M
QQQ icon
1946
Invesco QQQ Trust
QQQ
$486B
– –
-235,492
Closed -$89.4M
QS icon
1947
QuantumScape Corp
QS
$3.68B
– –
-29,749
Closed -$199K
QTWO icon
1948
Q2 Holdings
QTWO
$3.99B
– –
-35,405
Closed -$1.14M
QURE icon
1949
uniQure
QURE
$3.36B
– –
-45,737
Closed -$307K
R icon
1950
Ryder
R
$9.58B
– –
-10,448
Closed -$1.12M
76 77
78
79 80

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Michael Gelband's Q4 2023 Portfolio in Review

As of Q4 2023, Michael Gelband held 2,187 positions worth $15.2B, up 46% from $10.5B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Michael Gelband deployed $3.57B of net new capital in Q4 2023, opening 553 new positions and adding to 436 existing holdings. Its largest new stake was Fidelity National Information Services: 6,650,397 shares worth $399M.

By sector, the portfolio is most concentrated in Technology at 9.3% of assets, down from 10% a quarter earlier, followed by Industrials and Utilities.

On the sell side, the largest reduction was Merck, an estimated $48.2M trimmed.

  • Michael Gelband's largest Q4 2023 buy was Fidelity National Information Services: 6,650,397 shares worth $399M.
  • Michael Gelband added most to Global Payments in Q4 2023, an estimated $250M increase.
  • Michael Gelband's biggest Q4 2023 reduction was Merck, cutting an estimated $48.2M.
  • Michael Gelband fully exited VMware, Inc in Q4 2023, selling an estimated $95.7M.
  • Michael Gelband's ten largest holdings make up 45% of its $15.2B portfolio in Q4 2023.
  • Michael Gelband opened 553 new positions and closed 789 in Q4 2023.
  • Michael Gelband's portfolio value rose 46% quarter-over-quarter to $15.2B.

Based on ExodusPoint Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.