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 |
Apple
AAPL
|
+$272M |
| 2 |
Meta Platforms (Facebook)
META
|
+$79.7M |
| 3 |
NVIDIA
NVDA
|
+$74.6M |
| 4 |
Procter & Gamble
PG
|
+$60.5M |
| 5 |
Microsoft
MSFT
|
+$58.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PARA
Paramount Global Class B
PARA
|
+$158M |
| 2 |
PPL
PPL Corp
PPL
|
+$113M |
| 3 |
Southern Company
SO
|
+$111M |
| 4 |
Danaher
DHR
|
+$106M |
| 5 |
Entergy
ETR
|
+$84.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 14.92% |
| 2 | Industrials | 9.39% |
| 3 | Financials | 9.29% |
| 4 | Consumer Discretionary | 7.56% |
| 5 | Utilities | 6.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2051
Urban Outfitters
URBN
$6.36B
| – | – |
-140,794
| Closed | -$10.2M |
|
2052
Universal Insurance Holdings
UVE
$1.18B
| – | – |
-12,915
| Closed | -$358K |
|
2053
Marriott Vacations Worldwide
VAC
$3.87B
| – | – |
-19,973
| Closed | -$1.44M |
|
2054
Valaris
VAL
$6.09B
| – | – |
-39,312
| Closed | -$1.66M |
|
2055
Veracyte
VCYT
$3.4B
| – | – |
-175,959
| Closed | -$4.76M |
|
2056
Vera Therapeutics
VERA
$2.33B
| – | – |
-20,108
| Closed | -$474K |
|
2057
Veru
VERU
$45M
| – | – |
-1,407
| Closed | -$8K |
|
2058
Vertex
VERX
$2.19B
| – | – |
-50,320
| Closed | -$1.78M |
|
2059
VF Corp
VFC
$5.65B
| – | – |
-281,678
| Closed | -$3.31M |
|
2060
Vicor
VICR
$9.25B
| – | – |
-6,825
| Closed | -$310K |
|
|
VIGL
2061
DELISTED
Vigil Neuroscience
VIGL
| – | – |
-137,830
| Closed | -$1.1M |
|
2062
Virtu Financial
VIRT
$6B
| – | – |
-71,703
| Closed | -$3.21M |
|
2063
Vital Farms
VITL
$454M
| – | – |
-111,561
| Closed | -$4.3M |
|
2064
Verra Mobility
VRRM
$693M
| – | – |
-56,037
| Closed | -$1.42M |
|
2065
Verisk Analytics
VRSK
$24.4B
| – | – |
-3,498
| Closed | -$1.09M |
|
2066
Viasat
VSAT
$10.3B
| – | – |
-151,474
| Closed | -$2.21M |
|
2067
VSE Corp
VSEC
$6.11B
| – | – |
-4,531
| Closed | -$593K |
|
2068
Vanguard Morningstar Total Stock Market ETF
VTI
$685B
| – | – |
-2,794
| Closed | -$849K |
|
|
VTLE
2069
DELISTED
Vital Energy
VTLE
| – | – |
-39,523
| Closed | -$636K |
|
2070
Ventas
VTR
$47.7B
| – | – |
-41,600
| Closed | -$2.63M |
|
2071
Verizon
VZ
$205B
| – | – |
-260,672
| Closed | -$11.3M |
|
|
WBA
2072
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-194,249
| Closed | -$2.23M |
|
2073
Walker & Dunlop
WD
$1.38B
| – | – |
-69,271
| Closed | -$4.88M |
|
2074
Welltower
WELL
$172B
| – | – |
-42,018
| Closed | -$6.46M |
|
2075
Wyndham Hotels & Resorts
WH
$5.54B
| – | – |
-39,949
| Closed | -$3.24M |
|
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Michael Gelband's Q3 2025 Portfolio in Review
As of Q3 2025, Michael Gelband held 2,139 positions worth $9.79B, down 14% from $11.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Michael Gelband withdrew a net $2.29B in Q3 2025, closing 673 positions and reducing 386 holdings. Its most notable exit was Paramount Global Class B, an estimated $158M position sold in full.
By sector, the portfolio is most concentrated in Technology at 15% of assets, up from 7.6% a quarter earlier, followed by Industrials and Financials.
Against the trend, Michael Gelband opened a new position in Apple worth $306M.
- Michael Gelband's largest Q3 2025 buy was Apple: 1,202,327 shares worth $306M.
- Michael Gelband added most to Procter & Gamble in Q3 2025, an estimated $60.5M increase.
- Michael Gelband's biggest Q3 2025 reduction was PPL Corp, cutting an estimated $113M.
- Michael Gelband fully exited Paramount Global Class B in Q3 2025, selling an estimated $158M.
- Michael Gelband's ten largest holdings make up 25% of its $9.79B portfolio in Q3 2025.
- Michael Gelband opened 733 new positions and closed 673 in Q3 2025.
- Michael Gelband's portfolio value fell 14% quarter-over-quarter to $9.79B.
Based on ExodusPoint Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.