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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
YMM icon
2151
Full Truck Alliance
YMM
$9.1B
– –
-23,944
Closed -$199K
YOU icon
2152
Clear Secure
YOU
$4.46B
– –
-25,347
Closed -$1.23M
YUM icon
2153
Yum! Brands
YUM
$41.8B
– –
-52,924
Closed -$8.23M
YUMC icon
2154
Yum China
YUMC
$16.9B
– –
-16,832
Closed -$821K
ZGN icon
2155
Zegna
ZGN
$3.73B
– –
-64,534
Closed -$672K
ZVRA icon
2156
Zevra Therapeutics
ZVRA
$705M
– –
-23,005
Closed -$214K
ZYME icon
2157
Zymeworks
ZYME
$2.05B
– –
-27,374
Closed -$685K
AVBP icon
2158
ArriVent BioPharma
AVBP
$1.44B
– –
-19,025
Closed -$439K
BBOT
2159
BridgeBio Oncology
BBOT
$728M
– –
-48,122
Closed -$431K
SOC icon
2160
Sable Offshore Corp
SOC
$979M
– –
-82,968
Closed -$1.37M
TBRG
2161
DELISTED
TruBridge
TBRG
– –
-30,531
Closed -$447K
LENZ
2162
LENZ Therapeutics
LENZ
$147M
– –
-57,577
Closed -$527K
SOLV icon
2163
Solventum
SOLV
$15.2B
– –
-163,837
Closed -$10.7M
GEV icon
2164
GE Vernova
GEV
$255B
– –
-2,172
Closed -$1.9M
CTNM
2165
Contineum Therapeutics
CTNM
$647M
– –
-12,382
Closed -$162K
CTRI icon
2166
Centuri Holdings
CTRI
$2.16B
– –
-36,806
Closed -$1.08M
NNE
2167
Nano Nuclear Energy
NNE
$1.01B
– –
-19,121
Closed -$392K
FER icon
2168
Ferrovial N.V. Ordinary Shares
FER
$45.3B
– –
-19,739
Closed -$1.27M
INR
2169
Infinity Natural Resources
INR
$277M
– –
-14,156
Closed -$249K
LB
2170
LandBridge Co
LB
$2.55B
– –
-19,603
Closed -$1.35M
TE
2171
T1 Energy
TE
$1.3B
– –
-61,015
Closed -$268K
TEN
2172
Tsakos Energy Navigation Ltd
TEN
$1.29B
– –
-39,604
Closed -$1.56M
TLN
2173
Talen Energy Corp
TLN
$15.1B
– –
-16,614
Closed -$5.3M
ALMS
2174
Alumis Inc
ALMS
$3.13B
– –
-266,243
Closed -$5.87M
AIOT
2175
PowerFleet Inc
AIOT
$408M
– –
-465,079
Closed -$1.43M
85 86
87
88 89

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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.