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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
+11.09%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$11.4B
AUM Growth
+$1.29B
Cap. Flow
+$528M
Cap. Flow %
4.63%
Top 10 Hldgs %
25.25%
Holding
2,093
New
704
Increased
330
Reduced
366
Closed
687

Top Buys

Rank Stock Value
1
PARA
Paramount Global Class B
PARA
+$75M
2
CVX icon
Chevron
CVX
+$59.9M
3
GEHC icon
GE HealthCare
GEHC
+$57.5M
4
APP icon
Applovin
APP
+$54.7M
5
OKLO
Oklo
OKLO
+$52.8M

Top Sells

Rank Stock Value
1
XEL icon
Xcel Energy
XEL
+$137M
2
META icon
Meta Platforms (Facebook)
META
+$61.8M
3
BDX icon
Becton Dickinson
BDX
+$59.9M
4
CRWV
CoreWeave
CRWV
+$57.1M
5
AAPL icon
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
STRL icon
1951
Sterling Infrastructure
STRL
$15.8B
– –
-15,801
Closed -$1.79M
STT icon
1952
State Street
STT
$51.4B
– –
-135,563
Closed -$12.1M
SVRA icon
1953
Savara
SVRA
$1.15B
– –
-22,376
Closed -$62K
SWBI icon
1954
Smith & Wesson
SWBI
$632M
– –
-58,818
Closed -$548K
SWKS icon
1955
Skyworks Solutions
SWKS
$10.1B
– –
-173,616
Closed -$11.2M
SWTX
1956
DELISTED
SpringWorks Therapeutics
SWTX
– –
-17,785
Closed -$791K
SWTX
1957
PUT
DELISTED
SpringWorks Therapeutics
SWTX
– –
-40,000
Closed -$1.77M
SXT icon
1958
Sensient Technologies
SXT
$5.73B
– –
-7,351
Closed -$547K
TAL icon
1959
TAL Education Group
TAL
$6.28B
– –
-83,040
Closed -$1.1M
TAP icon
1960
Molson Coors Class B
TAP
$8.01B
– –
-44,714
Closed -$2.72M
TBPH icon
1961
Theravance Biopharma
TBPH
$883M
– –
-28,437
Closed -$254K
TCBI icon
1962
Texas Capital Bancshares
TCBI
$4.27B
– –
-97,571
Closed -$7.29M
TCPC icon
1963
BlackRock TCP Capital
TCPC
$338M
– –
-23,200
Closed -$186K
TDC icon
1964
Teradata
TDC
$2.58B
– –
-85,250
Closed -$1.92M
TDOC icon
1965
Teladoc Health
TDOC
$1.16B
– –
-70,837
Closed -$564K
TDS icon
1966
Telephone and Data Systems
TDS
$3.87B
– –
-45,905
Closed -$1.78M
TDW icon
1967
Tidewater
TDW
$4.74B
– –
-14,108
Closed -$596K
TECK icon
1968
Teck Resources
TECK
$33.9B
– –
-761,917
Closed -$27.8M
TFX icon
1969
Teleflex
TFX
$5.88B
– –
-68,644
Closed -$9.49M
TGTX icon
1970
TG Therapeutics
TGTX
$8.31B
– –
-80,346
Closed -$3.17M
THG icon
1971
Hanover Insurance
THG
$7.77B
– –
-5,534
Closed -$963K
THRY icon
1972
Thryv Holdings
THRY
$92.4M
– –
-66,256
Closed -$849K
TMCI icon
1973
Treace Medical Concepts
TMCI
$282M
– –
-27,893
Closed -$234K
TMP icon
1974
Tompkins Financial
TMP
$1.41B
– –
-13,161
Closed -$829K
TNC icon
1975
Tennant Co
TNC
$1.17B
– –
-14,044
Closed -$1.12M
77 78
79
80 81

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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.