Michael Gelband ExodusPoint Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 1000 Value ETF
IWD
|
+$48M |
| 2 |
American Electric Power
AEP
|
+$40.9M |
| 3 |
Comcast
CMCSA
|
+$38.2M |
| 4 |
Entergy
ETR
|
+$30.6M |
| 5 |
State Street Technology Select Sector SPDR ETF
XLK
|
+$27.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$378M |
| 2 |
Amazon
AMZN
|
+$336M |
| 3 |
Apple
AAPL
|
+$294M |
| 4 |
Alibaba
BABA
|
+$258M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$136M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 12.92% |
| 2 | Consumer Discretionary | 8.02% |
| 3 | Utilities | 7.46% |
| 4 | Healthcare | 7.42% |
| 5 | Financials | 7.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2176
Comstock Resources
CRK
$4.19B
| – | – |
-27,290
| Closed | -$119K |
|
2177
CorMedix
CRMD
$645M
| – | – |
-26,229
| Closed | -$195K |
|
2178
America's Car Mart
CRMT
$19.2M
| – | – |
-2,691
| Closed | -$296K |
|
2179
Cirrus Logic
CRUS
$5.6B
| – | – |
-13,961
| Closed | -$1.15M |
|
2180
Cisco
CSCO
$435B
| – | – |
-170,475
| Closed | -$7.63M |
|
|
CSR
2181
Centerspace
CSR
$917M
| – | – |
-6,832
| Closed | -$483K |
|
2182
CALL
Castle Biosciences
CSTL
$1.02B
| – | – |
-21,100
| Closed | -$1.41M |
|
2183
CytomX Therapeutics
CTMX
$717M
| – | – |
-41,728
| Closed | -$273K |
|
|
CTO
2184
CTO Realty Growth
CTO
$824M
| – | – |
-90,483
| Closed | -$1.27M |
|
2185
CareTrust REIT
CTRE
$9.37B
| – | – |
-12,878
| Closed | -$286K |
|
2186
Customers Bancorp
CUBI
$2.67B
| – | – |
-32,234
| Closed | -$586K |
|
|
CVAC
2187
CALL
DELISTED
CureVac
CVAC
| – | – |
-20,000
| Closed | -$1.62M |
|
2188
Chevron
CVX
$398B
| – | – |
-7,109
| Closed | -$600K |
|
2189
Crane NXT
CXT
$2.87B
| – | – |
-11,824
| Closed | -$319K |
|
2190
Community Health Systems
CYH
$423M
| – | – |
-16,768
| Closed | -$125K |
|
2191
CALL
CryoPort
CYRX
$827M
| – | – |
-15,000
| Closed | -$658K |
|
|
2192
CryoPort
CYRX
$827M
| – | – |
-6,391
| Closed | -$280K |
|
2193
Deutsche Bank
DB
$72.2B
| – | – |
-81,284
| Closed | -$886K |
|
2194
Designer Brands
DBI
$298M
| – | – |
-139,490
| Closed | -$1.07M |
|
|
DCBO
2195
Docebo
DCBO
$611M
| – | – |
-5,381
| Closed | -$350K |
|
2196
Ducommun
DCO
$2.77B
| – | – |
-11,395
| Closed | -$612K |
|
2197
DuPont de Nemours
DD
$18.5B
| – | – |
-539,463
| Closed | -$48.2M |
|
2198
Datadog
DDOG
$81B
| – | – |
-3,376
| Closed | -$332K |
|
2199
Diageo
DEO
$53.4B
| – | – |
-3,137
| Closed | -$498K |
|
2200
Donnelley Financial Solutions
DFIN
$1.16B
| – | – |
-35,676
| Closed | -$605K |
|
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Michael Gelband's Q1 2021 Portfolio in Review
As of Q1 2021, Michael Gelband held 2,871 positions worth $6.86B, down 33% from $10.3B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Michael Gelband withdrew a net $3.78B in Q1 2021, closing 811 positions and reducing 524 holdings. Its most notable exit was Alibaba, an estimated $258M position sold in full.
By sector, the portfolio is most concentrated in Technology at 13% of assets, down from 14% a quarter earlier, followed by Consumer Discretionary and Utilities.
Against the trend, Michael Gelband opened a new position in Comcast worth $39.1M.
- Michael Gelband's largest Q1 2021 buy was Comcast: 722,523 shares worth $39.1M.
- Michael Gelband added most to iShares Russell 1000 Value ETF in Q1 2021, an estimated $48M increase.
- Michael Gelband's biggest Q1 2021 reduction was Microsoft, cutting an estimated $378M.
- Michael Gelband fully exited Alibaba in Q1 2021, selling an estimated $258M.
- Michael Gelband's ten largest holdings make up 26% of its $6.86B portfolio in Q1 2021.
- Michael Gelband opened 973 new positions and closed 811 in Q1 2021.
- Michael Gelband's portfolio value fell 33% quarter-over-quarter to $6.86B.
Based on ExodusPoint Capital Management's 13F filing for Q1 2021, filed 17 May 2021.