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 |
Duke Energy
DUK
|
+$172M |
| 2 |
Chevron
CVX
|
+$99.4M |
| 3 |
Apple
AAPL
|
+$91.7M |
| 4 |
Evergy
EVRG
|
+$89M |
| 5 |
Consolidated Edison
ED
|
+$86.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$412M |
| 2 |
Mondelez International
MDLZ
|
+$131M |
| 3 |
Johnson & Johnson
JNJ
|
+$107M |
| 4 |
NiSource
NI
|
+$88.5M |
| 5 |
PPL
PPL Corp
PPL
|
+$86.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 9.81% |
| 2 | Technology | 9.77% |
| 3 | Healthcare | 7.98% |
| 4 | Utilities | 7.37% |
| 5 | Real Estate | 5.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $2.85B | 19.53% |
4,857,400
+847,700
| +21% | +$499M |
|
2
NVIDIA
NVDA
$5.2T
| $483M | 3.31% |
3,595,533
-137,317
| -4% | -$18.9M |
|
|
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $377M | 2.58% |
642,500
-1,657,300
| -72% | -$976M |
|
|
4
PUT
NVIDIA
NVDA
$5.2T
| $376M | 2.58% |
2,801,200
+405,900
| +17% | +$55.9M |
|
5
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
| $228M | 1.56% |
2,605,200
+16,900
| +0.7% | +$1.56M |
|
6
CMS Energy
CMS
$21.4B
| $170M | 1.17% |
2,556,267
+343,677
| +16% | +$23.6M |
|
|
7
Duke Energy
DUK
$93.4B
| $164M | 1.12% |
+1,520,504
| New | +$172M |
|
|
8
Evergy
EVRG
$18.7B
| $142M | 0.98% |
2,312,953
+1,439,450
| +165% | +$89M |
|
|
9
NiSource
NI
$19.5B
| $125M | 0.86% |
3,394,207
-2,465,152
| -42% | -$88.5M |
|
10
Citigroup
C
$221B
| $115M | 0.79% |
1,637,174
+1,276,206
| +354% | +$86M |
|
11
Clorox
CLX
$12.9B
| $114M | 0.78% |
698,900
+456,114
| +188% | +$74.6M |
|
12
Xcel Energy
XEL
$47.7B
| $112M | 0.77% |
1,656,325
+186,347
| +13% | +$12.5M |
|
13
CALL
American International
AIG
$39.8B
| $109M | 0.75% |
1,500,000
+1,000,000
| +200% | +$75.2M |
|
|
14
Chevron
CVX
$403B
| $108M | 0.74% |
745,011
+649,300
| +678% | +$99.4M |
|
15
Broadcom
AVGO
$1.75T
| $99.6M | 0.68% |
+429,620
| New | +$79.5M |
|
|
16
CALL
Apple
AAPL
$4.51T
| $99.3M | 0.68% |
396,500
-7,800
| -2% | -$1.84M |
|
|
17
Consolidated Edison
ED
$39.3B
| $97.6M | 0.67% |
1,093,402
+879,866
| +412% | +$86.6M |
|
|
18
Apple
AAPL
$4.51T
| $97.4M | 0.67% |
+389,128
| New | +$91.7M |
|
19
CALL
Alphabet (Google) Class A
GOOGL
$4.22T
| $96.9M | 0.66% |
511,500
+301,500
| +144% | +$52.8M |
|
20
Meta Platforms (Facebook)
META
$1.4T
| $86.9M | 0.6% |
148,352
+55,683
| +60% | +$32.7M |
|
21
PUT
Invesco QQQ Trust
QQQ
$486B
| $80.6M | 0.55% |
157,600
-270,500
| -63% | -$137M |
|
22
UnitedHealth
UNH
$350B
| $75.7M | 0.52% |
149,705
+108,195
| +261% | +$61.5M |
|
23
iShares Bitcoin Trust
IBIT
$57.7B
| $75.5M | 0.52% |
1,423,900
+1,274,000
| +850% | +$60.2M |
|
24
PNC Financial Services
PNC
$97B
| $74.9M | 0.51% |
+388,571
| New | +$76.4M |
|
25
ConocoPhillips
COP
$162B
| $74.2M | 0.51% |
748,450
+331,558
| +80% | +$35.2M |
|
Similar funds
Michael Gelband's Q4 2024 Portfolio in Review
As of Q4 2024, Michael Gelband held 2,201 positions worth $14.6B, down 11% from $16.4B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Michael Gelband withdrew a net $1.86B in Q4 2024, closing 764 positions and reducing 361 holdings. Its most notable exit was Mondelez International, an estimated $131M position sold in full.
By sector, the portfolio is most concentrated in Financials at 9.8% of assets, up from 4.6% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Michael Gelband opened a new position in Duke Energy worth $164M.
- Michael Gelband's largest Q4 2024 buy was Duke Energy: 1,520,504 shares worth $164M.
- Michael Gelband added most to Chevron in Q4 2024, an estimated $99.4M increase.
- Michael Gelband's biggest Q4 2024 reduction was Microsoft, cutting an estimated $412M.
- Michael Gelband fully exited Mondelez International in Q4 2024, selling an estimated $131M.
- Michael Gelband's ten largest holdings make up 34% of its $14.6B portfolio in Q4 2024.
- Michael Gelband opened 633 new positions and closed 764 in Q4 2024.
- Michael Gelband's portfolio value fell 11% quarter-over-quarter to $14.6B.
Based on ExodusPoint Capital Management's 13F filing for Q4 2024, filed 12 Feb 2025.