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 | |
|---|---|---|---|---|---|---|
2026
PUT
WillScot Mobile Mini Holdings
WSC
$4.01B
| – | – |
-121,500
| Closed | -$3.37M |
|
|
X
2027
DELISTED
US Steel
X
| – | – |
-92,323
| Closed | -$3.9M |
|
2028
CALL
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| – | – |
-100,000
| Closed | -$8.11M |
|
|
2029
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| – | – |
-284,457
| Closed | -$23.1M |
|
2030
Xenon Pharmaceuticals
XENE
$5.88B
| – | – |
-42,000
| Closed | -$1.41M |
|
2031
CALL
State Street Health Care Select Sector SPDR ETF
XLV
$45.5B
| – | – |
-300,000
| Closed | -$43.8M |
|
2032
ExxonMobil
XOM
$679B
| – | – |
-5,639
| Closed | -$603K |
|
2033
XP
XP
$8.53B
| – | – |
-193,259
| Closed | -$2.66M |
|
2034
Xperi
XPER
$305M
| – | – |
-85,607
| Closed | -$661K |
|
2035
Expro Ltd
XPRO
$2.05B
| – | – |
-11,221
| Closed | -$112K |
|
2036
Dentsply Sirona
XRAY
$2.18B
| – | – |
-204,956
| Closed | -$3.06M |
|
2037
Xerox
XRX
$381M
| – | – |
-227,596
| Closed | -$1.1M |
|
2038
Yelp
YELP
$1.27B
| – | – |
-16,123
| Closed | -$597K |
|
2039
Yext
YEXT
$637M
| – | – |
-36,309
| Closed | -$224K |
|
2040
York Water
YORW
$552M
| – | – |
-12,207
| Closed | -$423K |
|
2041
Clear Secure
YOU
$4.46B
| – | – |
-240,922
| Closed | -$6.24M |
|
2042
Zimmer Biomet
ZBH
$19.3B
| – | – |
-206,329
| Closed | -$23.4M |
|
2043
Zegna
ZGN
$3.73B
| – | – |
-251,449
| Closed | -$1.86M |
|
2044
Zions Bancorporation
ZION
$9.95B
| – | – |
-134,120
| Closed | -$6.69M |
|
2045
Zoom
ZM
$31.5B
| – | – |
-87,973
| Closed | -$6.49M |
|
2046
Zevra Therapeutics
ZVRA
$705M
| – | – |
-41,932
| Closed | -$314K |
|
2047
Flutter Entertainment
FLUT
$17.8B
| – | – |
-150,463
| Closed | -$33.3M |
|
2048
Amer Sports
AS
$19B
| – | – |
-208,580
| Closed | -$5.58M |
|
2049
Arq
ARQ
$100M
| – | – |
-10,924
| Closed | -$46K |
|
|
DAY
2050
DELISTED
Dayforce
DAY
| – | – |
-12,297
| Closed | -$717K |
|
Similar funds
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.