Who Owns MediaAlpha, Inc. (MAX)?Hedge Fund & Institutional Holders

$9.82+0.08 (+0.82%)Communication ServicesNYSE

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$2.312432987218e+202T

% of Float Held

5.711801126722458e+297%

QoQ Change in Holders

+14 / -3

Price History

$7.17$10.56$13.95$17.34$20.73Aug 24Jun 25Mar 26

MAX — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
Triad Investment ManagementNew Position+275K+$3.6M
Stoic Point Capital Management LLCNew Position+207K+$2.7M
ACADIAN ASSET MANAGEMENT LLCIncreased+186K+$2.2M
BALYASNY ASSET MANAGEMENT L.P.New Position+184K+$2.0M
CITADEL ADVISORS LLCNew Position+170K+$2.0M
Y-Intercept (Hong Kong) LtdNew Position+210K+$2.0M
GLOBEFLEX CAPITAL L PNew Position+80K+$1.0M
HRT FINANCIAL LPNew Position+109K+$1.0M
Man Group plcNew Position+111K+$1.0M
ExodusPoint Capital Management, LPNew Position+82K+$1.0M
TUDOR INVESTMENT CORP ET ALNew Position+83K+$1.0M
CWM, LLCNew Position+42K+$548K
Allspring Global Investments Holdings, LLCNew Position+43K+$513K
State of WyomingNew Position+39K+$502K
PRINCIPAL FINANCIAL GROUP INCNew Position+35K+$457K

MAX — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
BlackRock, Inc.Decreased-22K-$40.6B
VANGUARD GROUP INCDecreased-30K-$29.6B
Broad Bay Capital Management, LPClosed Position-1.5M-$16.7B
MILLENNIUM MANAGEMENT LLCDecreased-678K-$16.3B
GOLDMAN SACHS GROUP INCDecreased-551K-$14.6B
JACOBS ASSET MANAGEMENT, LLCDecreased-114K-$9.3B
Shay Capital LLCDecreased-199K-$9.0B
Nuveen, LLCDecreased-24K-$7.8B
Qube Research & Technologies LtdDecreased-220K-$5.7B
D. E. Shaw & Co., Inc.Decreased-58K-$5.2B
JANUS HENDERSON GROUP PLCDecreased-120K-$4.4B
Lighthouse Investment Partners, LLCDecreased-272K-$4.0B
LAZARD ASSET MANAGEMENT LLCClosed Position-295K-$3.4B
NORTHERN TRUST CORPDecreased-20K-$3.3B
EARNEST PARTNERS LLCClosed Position-270K-$3.1B

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1WHITE MOUNTAINS INSURANCE GROUP LTD17,856,614$231.2M88.28%Share
2VANGUARD GROUP INC2,306,750$29.9M0.00%Share
3BlackRock, Inc.1,406,911$18.0M0.00%Share
4Clearline Capital LP1,301,453$16.9M0.83%Share
5BlackRock, Inc.1,300,502$16.0M0.00%Share
6RENAISSANCE TECHNOLOGIES LLC1,045,400$13.0M0.02%Share
7ARROWSTREET CAPITAL, LIMITED PARTNERSHIP855,904$11.0M0.01%Share
8Divisadero Street Capital Management, LP849,011$11.0M0.51%Share
9J. Goldman & Co LP786,369$10.2M0.27%Share
10JPMORGAN CHASE & CO794,117$10.0M0.00%Share
11AQR CAPITAL MANAGEMENT LLC782,016$10.0M0.01%Share
12JACOBS ASSET MANAGEMENT, LLC705,299$9.1M5.09%Share
13STATE STREET CORP731,407$9.0M0.00%Share
14MILLENNIUM MANAGEMENT LLC751,745$9.0M0.00%Share
15JACOBS LEVY EQUITY MANAGEMENT, INC700,497$9.0M0.03%Share
16VICTORY CAPITAL MANAGEMENT INC729,457$9.0M0.01%Share
17GEODE CAPITAL MANAGEMENT, LLC670,355$8.0M0.00%Share
18GOLDMAN SACHS GROUP INC626,727$8.0M0.00%Share
19Shay Capital LLC591,000$7.7M0.79%Share
20ACADIAN ASSET MANAGEMENT LLC606,171$7.0M0.01%Share
21G2 Investment Partners Management LLC496,916$6.4M1.53%Share
22BlackRock, Inc.475,472$6.0M0.00%Share
23MORGAN STANLEY467,849$6.0M0.00%Share
24D. E. Shaw & Co., Inc.397,380$5.0M0.00%Share
25JPMORGAN CHASE & CO352,626$4.0M0.00%Share
26Nuveen, LLC338,855$4.0M0.00%Share
27MORGAN STANLEY373,964$4.0M0.00%Share
28MARSHALL WACE, LLP316,488$4.0M0.00%Share
29Triad Investment Management275,437$3.6M3.61%Share
30Nuveen, LLC249,500$3.0M0.00%Share
31Qube Research & Technologies Ltd284,012$3.0M0.00%Share
32BNP PARIBAS FINANCIAL MARKETS273,151$3.0M0.00%Share
33FRANKLIN RESOURCES INC305,902$3.0M0.00%Share
34CHARLES SCHWAB INVESTMENT MANAGEMENT INC279,817$3.0M0.00%Share
35NORTHERN TRUST CORP256,414$3.0M0.00%Share
36JANUS HENDERSON GROUP PLC252,044$3.0M0.00%Share
37DIMENSIONAL FUND ADVISORS LP292,497$3.0M0.00%Share
38VANGUARD GROUP INC227,550$2.9M0.00%Share
39Stoic Point Capital Management LLC207,298$2.7M2.26%Share
40PDT Partners, LLC165,540$2.1M0.14%Share
41BALYASNY ASSET MANAGEMENT L.P.184,159$2.0M0.00%Share
42CITADEL ADVISORS LLC168,470$2.0M0.00%Share
43Y-Intercept (Hong Kong) Ltd210,352$2.0M0.04%Share
44JANE STREET GROUP, LLC222,399$2.0M0.00%Share
45GLOBEFLEX CAPITAL L P80,233$1.0M0.16%Share
46GOLDMAN SACHS GROUP INC102,640$1.0M0.00%Share
47Nuveen, LLC78,184$1.0M0.00%Share
48BlackRock, Inc.144,478$1.0M0.00%Share
49BlackRock, Inc.146,681$1.0M0.00%Share
50XTX Topco Ltd90,702$1.0M0.03%Share

MAX Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025170$566.1M+41
Q3 2025129$526.1B+0
Q2 2025129$443.3B-15
Q1 2025144$426.9B-15
Q4 2024159$522.8B+27
Q3 2024132$291.5T+2
Q2 2024130$156.8T+25
Q1 2024105$131.5T—

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As of Q4 2025, 50 institutional investors hold MAX (MediaAlpha, Inc.). The largest holder is WHITE MOUNTAINS INSURANCE GROUP LTD with $231.2M in shares. This quarter, 14 institutions opened new positions and 3 closed their positions.

Frequently Asked Questions

How many hedge funds own MAX?

As of Q4 2025, 50 institutional investors report holding MAX (MediaAlpha, Inc.) in their 13F filings.

Who is the largest institutional holder of MAX?

The largest institutional holder of MAX is WHITE MOUNTAINS INSURANCE GROUP LTD with $231.2M in shares.

Is institutional ownership of MAX increasing or decreasing?

This quarter, 14 institutions opened new positions in MAX and 3 closed their positions.