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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
+18.5%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$15.5B
AUM Growth
+$2.94B
Cap. Flow
+$1.45B
Cap. Flow %
9.35%
Top 10 Hldgs %
30.63%
Holding
2,230
New
735
Increased
384
Reduced
378
Closed
720

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$614M
2
AAPL icon
Apple
AAPL
+$443M
3
BLD
TopBuild
BLD
+$391M
4
SPCX
SpaceX
SPCX
+$329M
5
PEN icon
Penumbra
PEN
+$203M

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$1.96B
2
NVDA icon
NVIDIA
NVDA
+$425M
3
SNDK
Sandisk
SNDK
+$88M
4
SO icon
Southern Company
SO
+$80.6M
5
PPL
PPL Corp
PPL
+$74.1M

Sector Composition

Rank Sector Weight
1 Technology 16.4%
2 Industrials 13.64%
3 Consumer Discretionary 9.5%
4 Healthcare 7.9%
5 Financials 5.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WERN icon
2126
Werner Enterprises
WERN
$2.33B
– –
-315,475
Closed -$9.28M
WEST icon
2127
Westrock Coffee
WEST
$812M
– –
-46,705
Closed -$198K
WGO icon
2128
Winnebago Industries
WGO
$898M
– –
-75,686
Closed -$2.35M
WH icon
2129
Wyndham Hotels & Resorts
WH
$5.54B
– –
-12,861
Closed -$1.04M
WK icon
2130
Workiva
WK
$4.07B
– –
-13,360
Closed -$797K
WLDN icon
2131
Willdan Group
WLDN
$1.3B
– –
-54,670
Closed -$4.19M
WMG icon
2132
Warner Music
WMG
$14.2B
– –
-38,622
Closed -$986K
WMS icon
2133
Advanced Drainage Systems
WMS
$10.8B
– –
-55,665
Closed -$7.63M
WPM icon
2134
Wheaton Precious Metals
WPM
$71.7B
– –
-11,478
Closed -$1.5M
WRBY icon
2135
Warby Parker
WRBY
$3.39B
– –
-295,636
Closed -$6.23M
WSBC icon
2136
WesBanco
WSBC
$3.92B
– –
-5,989
Closed -$207K
WTW icon
2137
Willis Towers Watson
WTW
$31.8B
– –
-7,733
Closed -$2.25M
WWW icon
2138
Wolverine World Wide
WWW
$1.72B
– –
-53,395
Closed -$871K
XERS icon
2139
Xeris Biopharma Holdings
XERS
$1.59B
– –
-25,685
Closed -$149K
XFOR icon
2140
X4 Pharmaceuticals
XFOR
$401M
– –
-14,703
Closed -$60.7K
XHB icon
2141
State Street SPDR S&P Homebuilders ETF
XHB
$1.46B
– –
-100,578
Closed -$9.93M
XLF icon
2142
CALL
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
– –
-1,050,000
Closed -$51.9M
XLRE icon
2143
State Street Real Estate Select Sector SPDR ETF
XLRE
$8.64B
– –
-4,335
Closed -$177K
XLU icon
2144
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$22.2B
– –
-100,000
Closed -$4.59M
XLY icon
2145
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.4B
– –
-2,589
Closed -$282K
XNCR icon
2146
Xencor
XNCR
$2.07B
– –
-48,073
Closed -$580K
XOMA
2147
DELISTED
Xoma
XOMA
– –
-14,663
Closed -$460K
XOP icon
2148
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.93B
– –
-5,499
Closed -$1,000K
XRX icon
2149
Xerox
XRX
$381M
– –
-9,575
Closed -$12.4K
XYL icon
2150
Xylem
XYL
$26.5B
– –
-56,990
Closed -$6.81M
84 85
86
87 88

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Michael Gelband's Q2 2026 Portfolio in Review

As of Q2 2026, Michael Gelband held 2,230 positions worth $15.5B, up 23% from $12.6B the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Michael Gelband deployed $1.45B of net new capital in Q2 2026, opening 735 new positions and adding to 384 existing holdings. Its largest new stake was SpaceX: 1,938,935 shares worth $331M.

By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was Tesla, an estimated $1.96B trimmed.

  • Michael Gelband's largest Q2 2026 buy was SpaceX: 1,938,935 shares worth $331M.
  • Michael Gelband added most to Amazon in Q2 2026, an estimated $614M increase.
  • Michael Gelband's biggest Q2 2026 reduction was Tesla, cutting an estimated $1.96B.
  • Michael Gelband fully exited Southern Company in Q2 2026, selling an estimated $80.6M.
  • Michael Gelband's ten largest holdings make up 31% of its $15.5B portfolio in Q2 2026.
  • Michael Gelband opened 735 new positions and closed 720 in Q2 2026.
  • Michael Gelband's portfolio value rose 23% quarter-over-quarter to $15.5B.

Based on ExodusPoint Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.