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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
-2.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$10.5B
AUM Growth
-$1.83B
Cap. Flow
-$1.43B
Cap. Flow %
-13.63%
Top 10 Hldgs %
22.85%
Holding
2,289
New
494
Increased
544
Reduced
594
Closed
654

Top Buys

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$90M
2
XOM icon
ExxonMobil
XOM
+$88.4M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$87.3M
4
NI icon
NiSource
NI
+$81.2M
5
CMS icon
CMS Energy
CMS
+$70.2M

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$356M
2
DUK icon
Duke Energy
DUK
+$72.3M
3
PNW icon
Pinnacle West Capital
PNW
+$61M
4
OXY icon
Occidental Petroleum
OXY
+$59.8M
5
MRO
Marathon Oil Corporation
MRO
+$58.6M

Sector Composition

Rank Sector Weight
1 Healthcare 11.65%
2 Technology 10.24%
3 Utilities 9.2%
4 Industrials 8.85%
5 Energy 8.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ST icon
2126
Sensata Technologies
ST
$6.23B
– –
-111,822
Closed -$5.03M
STEP icon
2127
StepStone Group
STEP
$4.11B
– –
-67,535
Closed -$1.68M
STLA icon
2128
Stellantis
STLA
$20.4B
– –
-23,026
Closed -$404K
SUZ icon
2129
Suzano
SUZ
$10.8B
– –
-31,526
Closed -$291K
SYBT icon
2130
Stock Yards Bancorp
SYBT
$2.55B
– –
-4,865
Closed -$221K
TAC icon
2131
TransAlta
TAC
$3.86B
– –
-14,796
Closed -$138K
TAK icon
2132
Takeda Pharmaceutical
TAK
$58.1B
– –
-13,285
Closed -$209K
TCMD icon
2133
Tactile Systems Technology
TCMD
$540M
– –
-191,418
Closed -$4.77M
TEVA icon
2134
Teva Pharmaceuticals
TEVA
$43.5B
– –
-18,265
Closed -$138K
TFC icon
2135
PUT
Truist Financial
TFC
$61.6B
– –
-202,400
Closed -$6.14M
TG icon
2136
Tredegar Corp
TG
$278M
– –
-12,961
Closed -$86K
TGI
2137
DELISTED
Triumph Group
TGI
– –
-142,269
Closed -$1.39M
TGNA
2138
DELISTED
TEGNA Inc
TGNA
– –
-20,310
Closed -$330K
THG icon
2139
Hanover Insurance
THG
$7.77B
– –
-39,977
Closed -$4.52M
TIGO icon
2140
Millicom
TIGO
$15.7B
– –
-12,501
Closed -$191K
TLRY icon
2141
Tilray
TLRY
$666M
– –
-31,060
Closed -$485K
TMCI icon
2142
Treace Medical Concepts
TMCI
$282M
– –
-15,543
Closed -$398K
TME icon
2143
Tencent Music
TME
$14.4B
– –
-521,352
Closed -$3.85M
TNET icon
2144
TriNet
TNET
$3.24B
– –
-7,806
Closed -$741K
TNL icon
2145
Travel + Leisure Co
TNL
$4.39B
– –
-10,871
Closed -$439K
TOWN icon
2146
Towne Bank
TOWN
$3.49B
– –
-30,219
Closed -$702K
TPG icon
2147
TPG
TPG
$8.74B
– –
-67,483
Closed -$1.98M
TREE icon
2148
LendingTree
TREE
$433M
– –
-21,579
Closed -$477K
TRIP icon
2149
TripAdvisor
TRIP
$1.17B
– –
-68,832
Closed -$1.14M
TRN icon
2150
Trinity Industries
TRN
$2.37B
– –
-8,415
Closed -$216K
84 85
86
87 88

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Michael Gelband's Q3 2023 Portfolio in Review

As of Q3 2023, Michael Gelband held 2,289 positions worth $10.5B, down 15% from $12.3B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Michael Gelband withdrew a net $1.43B in Q3 2023, closing 654 positions and reducing 594 holdings. Its most notable exit was Pinnacle West Capital, an estimated $61M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 12% of assets, up from 9.1% a quarter earlier, followed by Technology and Utilities.

Against the trend, Michael Gelband opened a new position in ExxonMobil worth $94.8M.

  • Michael Gelband's largest Q3 2023 buy was ExxonMobil: 806,107 shares worth $94.8M.
  • Michael Gelband added most to VMware, Inc in Q3 2023, an estimated $90M increase.
  • Michael Gelband's biggest Q3 2023 reduction was Global Payments, cutting an estimated $356M.
  • Michael Gelband fully exited Pinnacle West Capital in Q3 2023, selling an estimated $61M.
  • Michael Gelband's ten largest holdings make up 23% of its $10.5B portfolio in Q3 2023.
  • Michael Gelband opened 494 new positions and closed 654 in Q3 2023.
  • Michael Gelband's portfolio value fell 15% quarter-over-quarter to $10.5B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.