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 Industrial Select Sector SPDR ETF
XLI
|
+$20.8M |
| 2 |
Comcast
CMCSA
|
+$17.9M |
| 3 |
Mastercard
MA
|
+$17.9M |
| 4 |
McKesson
MCK
|
+$17.6M |
| 5 |
Reynolds Consumer Products
REYN
|
+$13.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$393M |
| 2 |
Entergy
ETR
|
+$96.9M |
| 3 |
CMS Energy
CMS
|
+$81.1M |
| 4 |
Consolidated Edison
ED
|
+$79.6M |
| 5 |
Ameren
AEE
|
+$72.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 11.65% |
| 2 | Financials | 7.8% |
| 3 | Healthcare | 7.73% |
| 4 | Consumer Discretionary | 6.21% |
| 5 | Consumer Staples | 6.08% |
| 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
| $226M | 12.38% |
875,000
-2,360,000
| -73% | -$720M |
|
|
2
PUT
Comcast
CMCSA
$95.3B
| $115M | 6.28% |
3,331,400
+3,171,400
| +1,982% | +$134M |
|
3
CALL
iShares Russell 2000 ETF
IWM
$81.9B
| $48.4M | 2.65% |
+422,700
| New | +$63M |
|
|
4
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $46.4M | 2.55% |
180,000
-310,000
| -63% | -$94.6M |
|
5
CALL
Amazon
AMZN
$2.79T
| $43.9M | 2.41% |
+450,000
| New | +$43.6M |
|
|
6
Amazon
AMZN
$2.79T
| $23.3M | 1.28% |
238,640
+10,920
| +5% | +$1.06M |
|
7
Procter & Gamble
PG
$336B
| $22.4M | 1.23% |
203,739
+8,726
| +4% | +$1.05M |
|
|
8
State Street Industrial Select Sector SPDR ETF
XLI
$33.8B
| $21.3M | 1.17% |
360,444
+275,547
| +325% | +$20.8M |
|
|
9
Comcast
CMCSA
$95.3B
| $19M | 1.04% |
552,188
+424,523
| +333% | +$17.9M |
|
10
CALL
Netflix
NFLX
$331B
| $18.8M | 1.03% |
+500,000
| New | +$17.7M |
|
|
11
McKesson
MCK
$100B
| $18.1M | 0.99% |
133,810
+120,236
| +886% | +$17.6M |
|
12
Fidelity National Information Services
FIS
$21.3B
| $18M | 0.99% |
147,700
-38,159
| -21% | -$5.3M |
|
13
Microsoft
MSFT
$3.59T
| $14.7M | 0.81% |
93,263
+11,829
| +15% | +$1.95M |
|
|
14
Mastercard
MA
$509B
| $14.5M | 0.8% |
+60,087
| New | +$17.9M |
|
|
ATVI
15
CALL
DELISTED
Activision Blizzard
ATVI
| $14.2M | 0.78% |
240,000
-72,500
| -23% | -$4.3M |
|
|
16
Reynolds Consumer Products
REYN
$5.37B
| $13.9M | 0.76% |
+475,265
| New | +$13.7M |
|
17
Automatic Data Processing
ADP
$112B
| $12.5M | 0.69% |
91,773
-11,037
| -11% | -$1.78M |
|
18
TransUnion
TRU
$16.2B
| $12.3M | 0.67% |
185,276
-71,250
| -28% | -$6.15M |
|
19
CALL
Visa
V
$693B
| $12.1M | 0.66% |
+75,000
| New | +$14.1M |
|
20
Colgate-Palmolive
CL
$72.6B
| $11.3M | 0.62% |
169,616
-236,558
| -58% | -$16.7M |
|
21
CALL
Expedia Group
EXPE
$38.6B
| $11M | 0.6% |
195,000
+170,000
| +680% | +$16.3M |
|
22
PayPal
PYPL
$52.7B
| $10.9M | 0.6% |
114,110
-227,724
| -67% | -$25.1M |
|
23
Vanguard Real Estate ETF
VNQ
$39.1B
| $10.5M | 0.58% |
+150,576
| New | +$13.2M |
|
24
Avis
CAR
$5.18B
| $10.5M | 0.58% |
756,386
+10,785
| +1% | +$323K |
|
|
EA
25
CALL
DELISTED
Electronic Arts
EA
| $10M | 0.55% |
100,000
-135,900
| -58% | -$14.3M |
|
Similar funds
Michael Gelband's Q1 2020 Portfolio in Review
As of Q1 2020, Michael Gelband held 1,928 positions worth $1.82B, down 66% from $5.33B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Michael Gelband withdrew a net $2.93B in Q1 2020, closing 898 positions and reducing 384 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $393M position sold in full.
By sector, the portfolio is most concentrated in Technology at 12% of assets, up from 11% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Michael Gelband opened a new position in Mastercard worth $14.5M.
- Michael Gelband's largest Q1 2020 buy was Mastercard: 60,087 shares worth $14.5M.
- Michael Gelband added most to State Street Industrial Select Sector SPDR ETF in Q1 2020, an estimated $20.8M increase.
- Michael Gelband's biggest Q1 2020 reduction was Entergy, cutting an estimated $96.9M.
- Michael Gelband fully exited State Street SPDR S&P 500 ETF Trust in Q1 2020, selling an estimated $393M.
- Michael Gelband's ten largest holdings make up 32% of its $1.82B portfolio in Q1 2020.
- Michael Gelband opened 442 new positions and closed 898 in Q1 2020.
- Michael Gelband's portfolio value fell 66% quarter-over-quarter to $1.82B.
Based on ExodusPoint Capital Management's 13F filing for Q1 2020, filed 15 May 2020.