ExodusPoint Capital Management LP's Q3 2025 13F: 658 new positions, 636 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 14, 2025 · 1356 reported positions · accession 0001736225-25-000030
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | APPLE INC (AAPL) | — | 4.3% | +4.3 pts | +1.2M sh | new |
| Exited | PARAMOUNT GLOBAL (PARA) | 1.9% | — | −1.9 pts | −12.21M sh | −100% |
| Reduced | PPL CORP (PPL) | 1.6% | 0.4% | −1.2 pts | −3.15M sh | −79% |
| Exited | SOUTHERN CO (SO) | 1.4% | — | −1.4 pts | −1.21M sh | −100% |
| Exited | DANAHER CORPORATION (DHR) | 1.3% | — | −1.3 pts | −539K sh | −100% |
| Reduced | ENTERGY CORP NEW (ETR) | 1.3% | 0.5% | −0.9 pts | −960K sh | −72% |
| New | NVIDIA CORPORATION (NVDA) | — | 1.1% | +1.1 pts | +428K sh | new |
| New | META PLATFORMS INC (META) | — | 1.1% | +1.1 pts | +107K sh | new |
| Exited | OKLO INC (ALCC) | 1.0% | — | −1.0 pts | −1.49M sh | −100% |
| Reduced | AMEREN CORP (AEE) | 1.9% | 1.4% | −0.5 pts | −677K sh | −41% |
| Increased | PROCTER AND GAMBLE CO (PG) | 0.2% | 1.0% | +0.9 pts | +387K sh | +439% |
| New | MICROSOFT CORP (MSFT) | — | 0.8% | +0.8 pts | +114K sh | new |
| Reduced | REPLIGEN CORP (RGEN) | 0.7% | 0.1% | −0.6 pts | −427K sh | −87% |
| New | CMS ENERGY CORP (CMS) | — | 0.8% | +0.8 pts | +779K sh | new |
| Reduced | INTUITIVE SURGICAL INC (ISRG) | 0.9% | 0.1% | −0.8 pts | −126K sh | −88% |
| Reduced | BOSTON SCIENTIFIC CORP (BSX) | 1.0% | 0.3% | −0.7 pts | −553K sh | −73% |
| Exited | GE HEALTHCARE TECHNOLOGIES I (GEHC) | 0.7% | — | −0.7 pts | −826K sh | −100% |
| Exited | APPLOVIN CORP (APP) | 0.7% | — | −0.7 pts | −169K sh | −100% |
| Reduced | L3HARRIS TECHNOLOGIES INC (LHX) | 0.5% | 0.1% | −0.5 pts | −159K sh | −92% |
| Reduced | NEBIUS GROUP N.V. (NBIS) | 0.5% | 0.6% | +0.1 pts | −418K sh | −53% |
| Exited | CIRCLE INTERNET GROUP INC (CRCL) | 0.7% | — | −0.7 pts | −298K sh | −100% |
| New | BROADCOM INC (AVGO) | — | 0.6% | +0.6 pts | +136K sh | new |
| Exited | ALIGN TECHNOLOGY INC (ALGN) | 0.6% | — | −0.6 pts | −267K sh | −100% |
| New | HERSHEY CO (HSY) | — | 0.6% | +0.6 pts | +230K sh | new |
| Reduced | ICON PLC (ICLR) | 0.5% | 0.1% | −0.4 pts | −245K sh | −84% |
| Reduced | DEXCOM INC (DXCM) | 0.7% | 0.0% | −0.7 pts | −630K sh | −95% |
| New | WEC ENERGY GROUP INC (WEC) | — | 0.6% | +0.6 pts | +364K sh | new |
| Exited | FOOT LOCKER INC (FL) | 0.5% | — | −0.5 pts | −1.79M sh | −100% |
| Reduced | CONSOLIDATED EDISON INC (ED) | 0.9% | 0.5% | −0.4 pts | −379K sh | −50% |
| Reduced | SOUTHERN COPPER CORP (SCCO) | 0.4% | 0.0% | −0.4 pts | −306K sh | −92% |
| Exited | NISOURCE INC (NI) | 0.5% | — | −0.5 pts | −1.06M sh | −100% |
| Reduced | OGE ENERGY CORP (OGE) | 0.9% | 0.6% | −0.3 pts | −750K sh | −43% |
| Increased | HONEYWELL INTL INC (HON) | 0.0% | 0.5% | +0.5 pts | +165K sh | +1605% |
| Increased | US BANCORP DEL (USB) | 0.1% | 0.5% | +0.5 pts | +702K sh | +668% |
| New | LOCKHEED MARTIN CORP (LMT) | — | 0.5% | +0.5 pts | +67,671 sh | new |
| Reduced | BALL CORP (BALL) | 0.9% | 0.5% | −0.4 pts | −670K sh | −51% |
| Reduced | COOPER COS INC (COO) | 0.4% | 0.0% | −0.4 pts | −488K sh | −97% |
| Reduced | HOLOGIC INC (HOLX) | 0.4% | 0.1% | −0.4 pts | −484K sh | −89% |
| Exited | PALANTIR TECHNOLOGIES INC (PLTR) | 0.4% | — | −0.4 pts | −267K sh | −100% |
| New | CYBERARK SOFTWARE LTD (CYBR) | — | 0.4% | +0.4 pts | +65,437 sh | new |
| Increased | MCCORMICK & CO INC (MKC) | 0.1% | 0.6% | +0.4 pts | +468K sh | +368% |
| New | NORFOLK SOUTHN CORP (NSC) | — | 0.4% | +0.4 pts | +103K sh | new |
| Reduced | ROSS STORES INC (ROST) | 0.3% | 0.0% | −0.3 pts | −202K sh | −99% |
| Reduced | EASTMAN CHEM CO (EMN) | 0.5% | 0.0% | −0.4 pts | −486K sh | −93% |
| New | WESTERN DIGITAL CORP (WDC) | — | 0.4% | +0.4 pts | +255K sh | new |
| Exited | LOWES COS INC (LOW) | 0.4% | — | −0.4 pts | −155K sh | −100% |
| New | VISTRA CORP (VST) | — | 0.4% | +0.4 pts | +153K sh | new |
| Reduced | LIVANOVA PLC (LIVN) | 0.4% | 0.2% | −0.3 pts | −568K sh | −70% |
| Exited | ETORO GROUP LTD (ETOR) | 0.4% | — | −0.4 pts | −511K sh | −100% |
| New | MARATHON PETE CORP (MPC) | — | 0.4% | +0.4 pts | +152K sh | new |
The 50 largest of 1,983 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- PROKIDNEY CORP (PROK): G7S53R104 → 74291D104, 11,663 → 105K shares (share count changed with the identifier; not shown as a trade)
- VIPER ENERGY INC (VNOM): 927959106 → 64361Q101, 22,151 → 155K shares (share count changed with the identifier; not shown as a trade)
- UNITI GROUP LLC (UNIT): 91325V108 → 912932100, 410K → 195K shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 12.9% of the equity book
Changes in the top 10 this quarter: AAPL entered · NVDA entered · META entered · PG entered · EVRG entered · MSFT entered · CMS entered · PNW entered · AMZN entered · PARA left · PPL left · SO left · ETR left · DHR left · ALCC left · BSX left · ISRG left · ED left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | APPLE INC (AAPL) | 0.0% | 4.3% | Entered the top 10 |
| 2 | AMEREN CORP (AEE) | 1.9% | 1.4% | |
| 3 | NVIDIA CORPORATION (NVDA) | 0.0% | 1.1% | Entered the top 10 |
| 4 | META PLATFORMS INC (META) | 0.0% | 1.1% | Entered the top 10 |
| 5 | PROCTER AND GAMBLE CO (PG) | 0.2% | 1.0% | Entered the top 10 |
| 6 | EVERGY INC (EVRG) | 0.8% | 0.9% | Entered the top 10 |
| 7 | MICROSOFT CORP (MSFT) | 0.0% | 0.8% | Entered the top 10 |
| 8 | CMS ENERGY CORP (CMS) | 0.0% | 0.8% | Entered the top 10 |
| 9 | PINNACLE WEST CAP CORP (PNW) | 0.8% | 0.7% | Entered the top 10 |
| 10 | AMAZON COM INC (AMZN) | 0.4% | 0.7% | Entered the top 10 |
| — | PARAMOUNT GLOBAL (PARA) | 1.9% | 0.0% | Left the top 10 |
| — | PPL CORP (PPL) | 1.6% | 0.4% | Left the top 10 |
| — | SOUTHERN CO (SO) | 1.4% | 0.0% | Left the top 10 |
| — | ENTERGY CORP NEW (ETR) | 1.3% | 0.5% | Left the top 10 |
| — | DANAHER CORPORATION (DHR) | 1.3% | 0.0% | Left the top 10 |
| — | OKLO INC (ALCC) | 1.0% | 0.0% | Left the top 10 |
| — | BOSTON SCIENTIFIC CORP (BSX) | 1.0% | 0.3% | Left the top 10 |
| — | INTUITIVE SURGICAL INC (ISRG) | 0.9% | 0.1% | Left the top 10 |
| — | CONSOLIDATED EDISON INC (ED) | 0.9% | 0.5% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Exited | SPDR S&P 500 ETF TR (SPY) | Call | 1.16M | 0 | $0 |
| Reduced | INVESCO QQQ TR (QQQ) | Call | 1.21M | 91,700 | $55M |
| Increased | SPDR S&P 500 ETF TR (SPY) | Put | 584K | 1.13M | $750M |
| New | APPLE INC (AAPL) | Put | 0 | 1M | $255M |
| New | ISHARES TR (HYG) | Put | 0 | 3M | $244M |
| Increased | ISHARES TR (IWM) | Put | 490K | 1.15M | $278M |
| Reduced | ALPHABET INC (GOOGL) | Call | 1.05M | 175K | $42.6M |
| Increased | TESLA INC (TSLA) | Call | 97,500 | 370K | $163M |
| Reduced | ISHARES TR (IWM) | Call | 545K | 900 | $218K |
| Reduced | INVESCO QQQ TR (QQQ) | Put | 455K | 252K | $151M |
| Exited | APPLOVIN CORP (APP) | Call | 215K | 0 | $0 |
| Increased | MERCK & CO INC (MRK) | Call | 250K | 1M | $83.9M |
| Reduced | ISHARES TR (TLT) | Call | 500K | 21,500 | $1.92M |
| Exited | VANECK ETF TRUST (OIH) | Put | 168K | 0 | $0 |
| New | NEBIUS GROUP N.V. (NBIS) | Put | 0 | 350K | $39.3M |
| Exited | NEXTERA ENERGY INC (NEE) | Put | 500K | 0 | $0 |
| Exited | SELECT SECTOR SPDR TR (XLF) | Put | 648K | 0 | $0 |
| New | JPMORGAN CHASE & CO. (JPM) | Put | 0 | 100K | $31.5M |
| Exited | UNITEDHEALTH GROUP INC (UNH) | Call | 100K | 0 | $0 |
| Exited | DBX ETF TR (ASHR) | Call | 1M | 0 | $0 |
| New | INTEL CORP (INTC) | Call | 0 | 804K | $27.4M |
| Exited | EXXON MOBIL CORP (XOM) | Call | 200K | 0 | $0 |
| Increased | RIOT PLATFORMS INC (RIOT) | Call | 200K | 1.17M | $22.2M |
| New | PARAMOUNT SKYDANCE CORP (PSKY) | Put | 0 | 935K | $17.7M |
| New | SOFI TECHNOLOGIES INC (SOFI) | Put | 0 | 440K | $11.6M |