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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
TROX icon
2151
Tronox
TROX
$888M
– –
-23,500
Closed -$299K
TRP icon
2152
TC Energy
TRP
$64.6B
– –
-12,933
Closed -$523K
TRUP icon
2153
Trupanion
TRUP
$1.36B
– –
-96,772
Closed -$1.9M
TSM icon
2154
TSMC
TSM
$2.17T
– –
-18,960
Closed -$1.91M
TT icon
2155
Trane Technologies
TT
$99.8B
– –
-50,792
Closed -$9.71M
TTD icon
2156
Trade Desk
TTD
$6.19B
– –
-52,210
Closed -$4.03M
TTEC icon
2157
TTEC Holdings
TTEC
$67.5M
– –
-7,961
Closed -$269K
TTGT icon
2158
TechTarget
TTGT
$276M
– –
-27,633
Closed -$860K
TVTX icon
2159
Travere Therapeutics
TVTX
$6.19B
– –
-396,060
Closed -$6.08M
TWST icon
2160
Twist Bioscience
TWST
$9.13B
– –
-18,653
Closed -$382K
TX icon
2161
Ternium
TX
$10.9B
– –
-20,850
Closed -$827K
TXG icon
2162
10x Genomics
TXG
$8.48B
– –
-107,718
Closed -$6.01M
TXN icon
2163
CALL
Texas Instruments
TXN
$241B
– –
-33,300
Closed -$5.97M
TXN icon
2164
PUT
Texas Instruments
TXN
$241B
– –
-6,300
Closed -$1.13M
UA icon
2165
Under Armour Class C
UA
$2.25B
– –
-4,773
Closed -$32K
UAL icon
2166
United Airlines
UAL
$36.7B
– –
-325,364
Closed -$17.9M
UL icon
2167
Unilever
UL
$138B
– –
-4,207
Closed -$247K
ULTA icon
2168
Ulta Beauty
ULTA
$22.4B
– –
-6,367
Closed -$3M
UMC icon
2169
United Microelectronic
UMC
$46B
– –
-24,929
Closed -$197K
UPS icon
2170
United Parcel Service
UPS
$86.8B
– –
-55,203
Closed -$9.89M
UTHR icon
2171
United Therapeutics
UTHR
$22B
– –
-10,221
Closed -$2.26M
UVV icon
2172
Universal Corp
UVV
$1.12B
– –
-4,459
Closed -$223K
VAL icon
2173
Valaris
VAL
$6.09B
– –
-131,839
Closed -$8.3M
VCEL icon
2174
Vericel Corp
VCEL
$2.19B
– –
-11,732
Closed -$441K
VCTR icon
2175
Victory Capital Holdings
VCTR
$7.11B
– –
-21,304
Closed -$672K
85 86
87
88 89

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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.