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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
+4.88%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$12.7B
AUM Growth
+$2.96B
Cap. Flow
+$2.85B
Cap. Flow %
22.37%
Top 10 Hldgs %
30.34%
Holding
2,189
New
723
Increased
409
Reduced
328
Closed
716

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$689M
2
AVGO icon
Broadcom
AVGO
+$153M
3
WMT icon
Walmart Inc
WMT
+$136M
4
AMZN icon
Amazon
AMZN
+$104M
5
IVV icon
iShares Core S&P 500 ETF
IVV
+$102M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$71.5M
2
PNW icon
Pinnacle West Capital
PNW
+$49.1M
3
PG icon
Procter & Gamble
PG
+$43.7M
4
CVX icon
Chevron
CVX
+$43.1M
5
HSY icon
Hershey
HSY
+$43M

Sector Composition

Rank Sector Weight
1 Technology 19.62%
2 Healthcare 9.42%
3 Industrials 7.55%
4 Financials 6.82%
5 Consumer Discretionary 6.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRP icon
2076
TC Energy
TRP
$64.6B
– –
-38,500
Closed -$2.09M
TRU icon
2077
TransUnion
TRU
$16.2B
– –
-61,529
Closed -$5.15M
TTEK icon
2078
Tetra Tech
TTEK
$9.47B
– –
-186,069
Closed -$6.21M
TTWO icon
2079
Take-Two Interactive
TTWO
$44.8B
– –
-44,446
Closed -$11.5M
TVTX icon
2080
Travere Therapeutics
TVTX
$6.19B
– –
-147,348
Closed -$3.52M
TWI icon
2081
Titan International
TWI
$461M
– –
-84,279
Closed -$637K
TWO
2082
Two Harbors Investment
TWO
$1.27B
– –
-107,643
Closed -$1.06M
TXG icon
2083
10x Genomics
TXG
$8.48B
– –
-251,730
Closed -$2.94M
TYL icon
2084
Tyler Technologies
TYL
$14.4B
– –
-15,153
Closed -$7.93M
UE icon
2085
Urban Edge Properties
UE
$2.71B
– –
-156,728
Closed -$3.21M
UEC icon
2086
Uranium Energy
UEC
$6.31B
– –
-33,440
Closed -$446K
UFPT icon
2087
UFP Technologies
UFPT
$2.39B
– –
-1,200
Closed -$240K
UHS icon
2088
PUT
Universal Health Services
UHS
$10.4B
– –
-50,000
Closed -$10.2M
UIS icon
2089
Unisys
UIS
$200M
– –
-169,312
Closed -$660K
ULTA icon
2090
Ulta Beauty
ULTA
$22.4B
– –
-15,118
Closed -$8.27M
UNF icon
2091
Unifirst Corp
UNF
$5.25B
– –
-1,740
Closed -$291K
UNFI icon
2092
United Natural Foods
UNFI
$2.91B
– –
-65,371
Closed -$2.46M
UNIT
2093
Uniti Group
UNIT
$2.42B
– –
-195,195
Closed -$1.19M
UNM icon
2094
Unum
UNM
$13.9B
– –
-49,633
Closed -$3.86M
UPBD icon
2095
Upbound Group
UPBD
$1.1B
– –
-28,168
Closed -$666K
UPS icon
2096
United Parcel Service
UPS
$86.8B
– –
-49,472
Closed -$4.13M
UPWK icon
2097
Upwork
UPWK
$1.08B
– –
-267,268
Closed -$4.96M
URNM icon
2098
Sprott Uranium Miners ETF
URNM
$2.16B
– –
-3,482
Closed -$210K
USFD icon
2099
US Foods
USFD
$23.7B
– –
-190,296
Closed -$14.6M
AD
2100
Array Digital Infrastructure
AD
$3.08B
– –
-24,787
Closed -$1.24M
82 83
84
85 86

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Michael Gelband's Q4 2025 Portfolio in Review

As of Q4 2025, Michael Gelband held 2,189 positions worth $12.7B, up 30% from $9.79B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Michael Gelband deployed $2.85B of net new capital in Q4 2025, opening 723 new positions and adding to 409 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 150,000 shares worth $103M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 15% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was Procter & Gamble, an estimated $43.7M trimmed.

  • Michael Gelband's largest Q4 2025 buy was iShares Core S&P 500 ETF: 150,000 shares worth $103M.
  • Michael Gelband added most to NVIDIA in Q4 2025, an estimated $689M increase.
  • Michael Gelband's biggest Q4 2025 reduction was Procter & Gamble, cutting an estimated $43.7M.
  • Michael Gelband fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $71.5M.
  • Michael Gelband's ten largest holdings make up 30% of its $12.7B portfolio in Q4 2025.
  • Michael Gelband opened 723 new positions and closed 716 in Q4 2025.
  • Michael Gelband's portfolio value rose 30% quarter-over-quarter to $12.7B.

Based on ExodusPoint Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.