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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$74.9M |
| 2 |
Aramark
ARMK
|
+$58.3M |
| 3 |
Colgate-Palmolive
CL
|
+$21.7M |
| 4 |
NextEra Energy
NEE
|
+$16.9M |
| 5 |
Coca-Cola
KO
|
+$16.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$114M |
| 2 |
iQIYI
IQ
|
+$19.6M |
| 3 |
AerCap
AER
|
+$18.3M |
| 4 |
Public Service Enterprise Group
PEG
|
+$12.5M |
| 5 |
Howard Hughes
HHH
|
+$12.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 13.39% |
| 2 | Technology | 9.99% |
| 3 | Consumer Discretionary | 6.99% |
| 4 | Industrials | 6.47% |
| 5 | Consumer Staples | 6.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $420M | 16.72% |
+1,435,000
| New | +$413M |
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $352M | 13.99% |
+1,200,000
| New | +$346M |
|
|
3
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $76.3M | 3.03% |
+260,259
| New | +$74.9M |
|
|
AABA
4
DELISTED
Altaba Inc
AABA
| $68.3M | 2.72% |
985,000
-1,625,000
| -62% | -$114M |
|
|
5
Aramark
ARMK
$15.8B
| $65.4M | 2.6% |
2,510,184
+2,492,208
| +13,864% | +$58.3M |
|
6
PUT
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $55.2M | 2.2% |
+2,000,000
| New | +$54.2M |
|
7
Entergy
ETR
$48.8B
| $38.8M | 1.54% |
753,530
-29,302
| -4% | -$1.43M |
|
8
Alliant Energy
LNT
$17.6B
| $30.9M | 1.23% |
630,404
+110,467
| +21% | +$5.27M |
|
9
CALL
VanEck JP Morgan EM Local Currency Bond ETF
EMLC
$4.82B
| $30.5M | 1.21% |
+880,000
| New | +$29.4M |
|
10
American Electric Power
AEP
$65.8B
| $27.9M | 1.11% |
317,536
-10,376
| -3% | -$894K |
|
11
Pinnacle West Capital
PNW
$11.8B
| $27.9M | 1.11% |
296,128
-24,079
| -8% | -$2.29M |
|
12
Avis
CAR
$5.18B
| $26.4M | 1.05% |
749,749
-749
| -0.1% | -$25.1K |
|
13
MDU Resources
MDU
$4.2B
| $24.8M | 0.99% |
2,526,673
+1,071,210
| +74% | +$10.4M |
|
14
Eversource Energy
ES
$26.4B
| $23.6M | 0.94% |
311,036
+173,302
| +126% | +$12.7M |
|
|
15
Colgate-Palmolive
CL
$72.6B
| $21.9M | 0.87% |
+305,114
| New | +$21.7M |
|
16
PUT
Deutsche Bank
DB
$71.1B
| $19.4M | 0.77% |
2,536,200
+1,836,200
| +262% | +$14.2M |
|
17
Consolidated Edison
ED
$39.3B
| $17.9M | 0.71% |
204,340
-11,767
| -5% | -$1.01M |
|
|
18
NextEra Energy
NEE
$174B
| $17.6M | 0.7% |
+344,184
| New | +$16.9M |
|
|
19
Coca-Cola
KO
$392B
| $17.3M | 0.69% |
+339,411
| New | +$16.6M |
|
20
FirstEnergy
FE
$26.6B
| $15.9M | 0.63% |
371,457
-222,337
| -37% | -$9.34M |
|
21
Mondelez International
MDLZ
$82.3B
| $14.9M | 0.59% |
276,889
+246,710
| +817% | +$12.8M |
|
22
Under Armour
UAA
$2.32B
| $14.3M | 0.57% |
+565,058
| New | +$13.2M |
|
23
Portland General Electric
POR
$5.83B
| $14.2M | 0.56% |
261,978
-2,950
| -1% | -$156K |
|
24
PepsiCo
PEP
$196B
| $14.1M | 0.56% |
+107,826
| New | +$13.8M |
|
25
Procter & Gamble
PG
$336B
| $14M | 0.56% |
+127,399
| New | +$13.6M |
|
Similar funds
Michael Gelband's Q2 2019 Portfolio in Review
As of Q2 2019, Michael Gelband held 1,466 positions worth $2.51B, up 87% from $1.34B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Michael Gelband deployed $1.14B of net new capital in Q2 2019, opening 813 new positions and adding to 130 existing holdings. Its largest new stake was State Street SPDR S&P 500 ETF Trust: 260,259 shares worth $76.3M.
By sector, the portfolio is most concentrated in Utilities at 13% of assets, down from 22% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Altaba Inc, an estimated $114M trimmed.
- Michael Gelband's largest Q2 2019 buy was State Street SPDR S&P 500 ETF Trust: 260,259 shares worth $76.3M.
- Michael Gelband added most to Aramark in Q2 2019, an estimated $58.3M increase.
- Michael Gelband's biggest Q2 2019 reduction was Altaba Inc, cutting an estimated $114M.
- Michael Gelband fully exited AerCap in Q2 2019, selling an estimated $18.3M.
- Michael Gelband's ten largest holdings make up 46% of its $2.51B portfolio in Q2 2019.
- Michael Gelband opened 813 new positions and closed 402 in Q2 2019.
- Michael Gelband's portfolio value rose 87% quarter-over-quarter to $2.51B.
Based on ExodusPoint Capital Management's 13F filing for Q2 2019, filed 14 Aug 2019.