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MG

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
-2.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$10.5B
AUM Growth
-$1.83B
Cap. Flow
-$1.43B
Cap. Flow %
-13.63%
Top 10 Hldgs %
22.85%
Holding
2,289
New
494
Increased
544
Reduced
594
Closed
654

Top Buys

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$90M
2
XOM icon
ExxonMobil
XOM
+$88.4M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$87.3M
4
NI icon
NiSource
NI
+$81.2M
5
CMS icon
CMS Energy
CMS
+$70.2M

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$356M
2
DUK icon
Duke Energy
DUK
+$72.3M
3
PNW icon
Pinnacle West Capital
PNW
+$61M
4
OXY icon
Occidental Petroleum
OXY
+$59.8M
5
MRO
Marathon Oil Corporation
MRO
+$58.6M

Sector Composition

Rank Sector Weight
1 Healthcare 11.65%
2 Technology 10.24%
3 Utilities 9.2%
4 Industrials 8.85%
5 Energy 8.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1976
PUT
Microsoft
MSFT
$3.59T
– –
-19,800
Closed -$6.74M
MT icon
1977
ArcelorMittal
MT
$54.4B
– –
-260,398
Closed -$7.12M
MTN icon
1978
Vail Resorts
MTN
$5.45B
– –
-3,906
Closed -$983K
MTSI icon
1979
MACOM Technology Solutions
MTSI
$20.4B
– –
-59,746
Closed -$3.92M
MU icon
1980
CALL
Micron Technology
MU
$1.09T
– –
-96,100
Closed -$6.06M
MU icon
1981
PUT
Micron Technology
MU
$1.09T
– –
-30,700
Closed -$1.94M
MVIS icon
1982
Microvision
MVIS
$50.8M
– –
-1,564
Closed -$107K
MVST icon
1983
Microvast
MVST
$309M
– –
-28,726
Closed -$46K
NAAS
1984
NaaS Technology Inc
NAAS
$57.5M
– –
-125
Closed -$213K
NAT icon
1985
Nordic American Tanker
NAT
$1.48B
– –
-347,788
Closed -$1.28M
NCLH icon
1986
Norwegian Cruise Line
NCLH
$7.92B
– –
-28,707
Closed -$625K
NE icon
1987
Noble Corp
NE
$7.39B
– –
-258,544
Closed -$10.7M
NFE icon
1988
New Fortress Energy
NFE
$78.5M
– –
-108,061
Closed -$2.89M
NFLX icon
1989
CALL
Netflix
NFLX
$331B
– –
-86,000
Closed -$3.79M
NFLX icon
1990
PUT
Netflix
NFLX
$331B
– –
-86,000
Closed -$3.79M
NIO icon
1991
NIO
NIO
$11.6B
– –
-66,794
Closed -$647K
NKE icon
1992
CALL
Nike
NKE
$60.5B
– –
-95,600
Closed -$10.5M
NKE icon
1993
PUT
Nike
NKE
$60.5B
– –
-46,800
Closed -$5.16M
NNDM
1994
Nano Dimension
NNDM
$325M
– –
-93,060
Closed -$269K
NOC icon
1995
Northrop Grumman
NOC
$78.3B
– –
-3,065
Closed -$1.4M
NOMD icon
1996
Nomad Foods
NOMD
$1.65B
– –
-15,094
Closed -$264K
NSA
1997
DELISTED
National Storage Affiliates Trust
NSA
– –
-67,766
Closed -$2.36M
NSSC icon
1998
Napco Security Technologies
NSSC
$1.36B
– –
-54,355
Closed -$1.88M
NTES icon
1999
NetEase
NTES
$82.1B
– –
-8,825
Closed -$853K
NUTX
2000
Nutex Health
NUTX
$1.27B
– –
-682
Closed -$43K
78 79
80
81 82

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Michael Gelband's Q3 2023 Portfolio in Review

As of Q3 2023, Michael Gelband held 2,289 positions worth $10.5B, down 15% from $12.3B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Michael Gelband withdrew a net $1.43B in Q3 2023, closing 654 positions and reducing 594 holdings. Its most notable exit was Pinnacle West Capital, an estimated $61M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 12% of assets, up from 9.1% a quarter earlier, followed by Technology and Utilities.

Against the trend, Michael Gelband opened a new position in ExxonMobil worth $94.8M.

  • Michael Gelband's largest Q3 2023 buy was ExxonMobil: 806,107 shares worth $94.8M.
  • Michael Gelband added most to VMware, Inc in Q3 2023, an estimated $90M increase.
  • Michael Gelband's biggest Q3 2023 reduction was Global Payments, cutting an estimated $356M.
  • Michael Gelband fully exited Pinnacle West Capital in Q3 2023, selling an estimated $61M.
  • Michael Gelband's ten largest holdings make up 23% of its $10.5B portfolio in Q3 2023.
  • Michael Gelband opened 494 new positions and closed 654 in Q3 2023.
  • Michael Gelband's portfolio value fell 15% quarter-over-quarter to $10.5B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.