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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
+3.28%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$12.1B
AUM Growth
+$5.18B
Cap. Flow
+$5.01B
Cap. Flow %
41.5%
Top 10 Hldgs %
21.6%
Holding
2,250
New
668
Increased
659
Reduced
374
Closed
543

Top Buys

Rank Stock Value
1
EXC icon
Exelon
EXC
+$101M
2
PPL
PPL Corp
PPL
+$72.8M
3
OXY icon
Occidental Petroleum
OXY
+$62.9M
4
DUK icon
Duke Energy
DUK
+$61.4M
5
FDX icon
FedEx
FDX
+$60M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$52.9M
2
APA icon
APA Corp
APA
+$51.1M
3
TTC icon
Toro Company
TTC
+$34.3M
4
CNH
CNH Industrial
CNH
+$32.6M
5
ETR icon
Entergy
ETR
+$30.1M

Sector Composition

Rank Sector Weight
1 Industrials 10.84%
2 Technology 10.75%
3 Healthcare 9.82%
4 Utilities 8.33%
5 Energy 7.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CB icon
176
Chubb
CB
$132B
$14.7M 0.12%
75,825
+60,235
+386% +$12.7M
PM icon
177
Philip Morris
PM
$293B
$14.7M 0.12%
150,900
+126,241
+512% +$12.6M
APD icon
178
Air Products & Chemicals
APD
$67.9B
$14.6M 0.12%
50,717
+47,310
+1,389% +$13.8M
KLAC icon
179
KLA
KLAC
$240B
$14.5M 0.12%
+364,430
New +$14.4M
ED icon
180
Consolidated Edison
ED
$39.3B
$14.5M 0.12%
151,191
+135,419
+859% +$12.7M
ODFL icon
181
Old Dominion Freight Line
ODFL
$42.8B
$14.4M 0.12%
84,612
+61,394
+264% +$10.3M
BAX icon
182
CALL
Baxter International
BAX
$13.6B
$14.2M 0.12%
+350,000
New +$14.8M
V icon
183
Visa
V
$693B
$14.2M 0.12%
62,919
+58,984
+1,499% +$13.1M
NEWR
184
DELISTED
New Relic, Inc.
NEWR
$14.2M 0.12%
+188,067
New +$12.7M
TENB icon
185
Tenable Holdings
TENB
$3.79B
$14.1M 0.12%
296,090
+274,080
+1,245% +$11.6M
WFRD icon
186
Weatherford International
WFRD
$6.49B
$14M 0.12%
235,083
+209,519
+820% +$12.3M
ICLN icon
187
iShares Global Clean Energy ETF
ICLN
$2.09B
$13.9M 0.12%
705,021
+705,000
+3,357,143% +$14M
WAB icon
188
Wabtec
WAB
$50.3B
$13.9M 0.12%
137,626
+54,276
+65% +$5.54M
OLED icon
189
Universal Display
OLED
$3.95B
$13.8M 0.11%
89,205
-13,059
-13% -$1.76M
ALLE icon
190
Allegion
ALLE
$13.8B
$13.7M 0.11%
128,624
+58,982
+85% +$6.62M
CDNS icon
191
Cadence Design Systems
CDNS
$87.9B
$13.6M 0.11%
64,675
+36,747
+132% +$6.95M
TXN icon
192
PUT
Texas Instruments
TXN
$241B
$13.6M 0.11%
+73,000
New +$12.8M
INTC icon
193
CALL
Intel
INTC
$476B
$13.5M 0.11%
+414,100
New +$11.7M
SBUX icon
194
PUT
Starbucks
SBUX
$122B
$13.5M 0.11%
129,800
+120,700
+1,326% +$12.6M
CMG icon
195
CALL
Chipotle Mexican Grill
CMG
$46.7B
$13.5M 0.11%
+410,000
New +$12.9M
TGT icon
196
PUT
Target
TGT
$75.1B
$13.5M 0.11%
82,400
+80,000
+3,333% +$13.2M
VICI icon
197
VICI Properties
VICI
$29.2B
$13.4M 0.11%
411,688
+118,373
+40% +$3.92M
HD icon
198
CALL
Home Depot
HD
$335B
$13.4M 0.11%
45,400
+44,400
+4,440% +$13.6M
HD icon
199
PUT
Home Depot
HD
$335B
$13.4M 0.11%
45,400
+44,400
+4,440% +$13.6M
CRM icon
200
PUT
Salesforce
CRM
$171B
$13.3M 0.11%
+66,400
New +$11.2M
6 7
8
9 10

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Michael Gelband's Q1 2023 Portfolio in Review

As of Q1 2023, Michael Gelband held 2,250 positions worth $12.1B, up 75% from $6.89B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Michael Gelband deployed $5.01B of net new capital in Q1 2023, opening 668 new positions and adding to 659 existing holdings. Its largest new stake was Valero Energy: 333,288 shares worth $46.5M.

By sector, the portfolio is most concentrated in Industrials at 11% of assets, down from 16% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was Apple, an estimated $52.9M trimmed.

  • Michael Gelband's largest Q1 2023 buy was Valero Energy: 333,288 shares worth $46.5M.
  • Michael Gelband added most to Exelon in Q1 2023, an estimated $101M increase.
  • Michael Gelband's biggest Q1 2023 reduction was Apple, cutting an estimated $52.9M.
  • Michael Gelband fully exited APA Corp in Q1 2023, selling an estimated $51.1M.
  • Michael Gelband's ten largest holdings make up 22% of its $12.1B portfolio in Q1 2023.
  • Michael Gelband opened 668 new positions and closed 543 in Q1 2023.
  • Michael Gelband's portfolio value rose 75% quarter-over-quarter to $12.1B.

Based on ExodusPoint Capital Management's 13F filing for Q1 2023, filed 11 May 2023.