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 |
Duke Energy
DUK
|
+$172M |
| 2 |
Chevron
CVX
|
+$99.4M |
| 3 |
Apple
AAPL
|
+$91.7M |
| 4 |
Evergy
EVRG
|
+$89M |
| 5 |
Consolidated Edison
ED
|
+$86.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$412M |
| 2 |
Mondelez International
MDLZ
|
+$131M |
| 3 |
Johnson & Johnson
JNJ
|
+$107M |
| 4 |
NiSource
NI
|
+$88.5M |
| 5 |
PPL
PPL Corp
PPL
|
+$86.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 9.81% |
| 2 | Technology | 9.77% |
| 3 | Healthcare | 7.98% |
| 4 | Utilities | 7.37% |
| 5 | Real Estate | 5.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWO
2076
Two Harbors Investment
TWO
$1.27B
| – | – |
-18,402
| Closed | -$255K |
|
2077
Tyler Technologies
TYL
$14.4B
| – | – |
-45,066
| Closed | -$26.3M |
|
2078
Under Armour Class C
UA
$2.25B
| – | – |
-234,890
| Closed | -$1.96M |
|
2079
CALL
United Airlines
UAL
$36.7B
| – | – |
-84,000
| Closed | -$4.79M |
|
2080
Uber
UBER
$161B
| – | – |
-56,443
| Closed | -$4.03M |
|
2081
United Bankshares
UBSI
$6.51B
| – | – |
-9,428
| Closed | -$350K |
|
2082
UDR
UDR
$12.1B
| – | – |
-336,796
| Closed | -$15.3M |
|
2083
Urban Edge Properties
UE
$2.71B
| – | – |
-233,737
| Closed | -$5M |
|
2084
United Fire Group
UFCS
$1.36B
| – | – |
-79,474
| Closed | -$1.66M |
|
2085
UFP Industries
UFPI
$4.9B
| – | – |
-20,774
| Closed | -$2.73M |
|
2086
Ulta Beauty
ULTA
$22.4B
| – | – |
-2,888
| Closed | -$1.12M |
|
2087
UMB Financial
UMBF
$11B
| – | – |
-30,073
| Closed | -$3.16M |
|
2088
United Microelectronic
UMC
$46B
| – | – |
-67,210
| Closed | -$566K |
|
2089
Wheels Up
UP
$180M
| – | – |
-19,889
| Closed | -$963K |
|
2090
Global X Uranium ETF
URA
$6.46B
| – | – |
-92,480
| Closed | -$2.65M |
|
2091
Urban Outfitters
URBN
$6.36B
| – | – |
-98,760
| Closed | -$3.78M |
|
2092
Universal Insurance Holdings
UVE
$1.18B
| – | – |
-44,254
| Closed | -$981K |
|
2093
Valaris
VAL
$6.09B
| – | – |
-48,657
| Closed | -$2.71M |
|
2094
Veeco
VECO
$2.93B
| – | – |
-46,658
| Closed | -$1.55M |
|
2095
Velocity Financial
VEL
$724M
| – | – |
-14,508
| Closed | -$285K |
|
2096
Vera Therapeutics
VERA
$2.33B
| – | – |
-153,596
| Closed | -$6.79M |
|
|
VERV
2097
DELISTED
Verve Therapeutics
VERV
| – | – |
-22,227
| Closed | -$108K |
|
2098
Veru
VERU
$45M
| – | – |
-14,238
| Closed | -$109K |
|
2099
Vipshop
VIPS
$6.98B
| – | – |
-49,627
| Closed | -$781K |
|
2100
Vodafone
VOD
$36.9B
| – | – |
-32,395
| Closed | -$325K |
|
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Michael Gelband's Q4 2024 Portfolio in Review
As of Q4 2024, Michael Gelband held 2,201 positions worth $14.6B, down 11% from $16.4B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Michael Gelband withdrew a net $1.86B in Q4 2024, closing 764 positions and reducing 361 holdings. Its most notable exit was Mondelez International, an estimated $131M position sold in full.
By sector, the portfolio is most concentrated in Financials at 9.8% of assets, up from 4.6% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Michael Gelband opened a new position in Duke Energy worth $164M.
- Michael Gelband's largest Q4 2024 buy was Duke Energy: 1,520,504 shares worth $164M.
- Michael Gelband added most to Chevron in Q4 2024, an estimated $99.4M increase.
- Michael Gelband's biggest Q4 2024 reduction was Microsoft, cutting an estimated $412M.
- Michael Gelband fully exited Mondelez International in Q4 2024, selling an estimated $131M.
- Michael Gelband's ten largest holdings make up 34% of its $14.6B portfolio in Q4 2024.
- Michael Gelband opened 633 new positions and closed 764 in Q4 2024.
- Michael Gelband's portfolio value fell 11% quarter-over-quarter to $14.6B.
Based on ExodusPoint Capital Management's 13F filing for Q4 2024, filed 12 Feb 2025.