MediaAlpha, Inc.
MAX- Exchange
- NYSE
- Industry
- Services-Business Services, NEC
- SEC CIK
- 0001818383
In the last 90 days, MediaAlpha, Inc. insiders filed 0 open-market purchases and 26 sales; 153 institutions reported holding it in 13F filings for Q2 2026, worth $610.7M in total; no superinvestor holds it.
13F holders, Q4 2025
Institutional positions in MediaAlpha, Inc. as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 172
- +16 vs. Q3 2025
- Shares held
- 47.8M
- −45.6K (−0.1%) vs. Q3 2025
- Total value
- $618.6M
- +$74.4M (+13.7%) vs. Q3 2025
- New holders
- 35
- 76 more added
- Sold out
- 19
- 48 more reduced
1 institution that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting MAX on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 153 | $610.7M |
| Q1 2026 | 163 | $452.0M |
| Q4 2025 | 172 | $618.6M |
| Q3 2025 | 157 | $544.3M |
| Q2 2025 | 152 | $528.5M |
| Q1 2025 | 144 | $436.3M |
| Q4 2024 | 162 | $542.2M |
| Q3 2024 | 151 | $885.5M |
| Q2 2024 | 149 | $660.8M |
| Q1 2024 | 122 | $905.9M |
| Q4 2023 | 91 | $470.3M |
| Q3 2023 | 89 | $341.7M |
| Q2 2023 | 94 | $463.6M |
| Q1 2023 | 98 | $602.5M |
| Q4 2022 | 101 | $398.7M |
| Q3 2022 | 88 | $358.0M |
| Q2 2022 | 89 | $393.0M |
| Q1 2022 | 96 | $677.3M |
| Q4 2021 | 93 | $616.6M |
| Q3 2021 | 89 | $708.5M |
| Q2 2021 | 98 | $1.59B |
| Q1 2021 | 96 | $1.29B |
Institutions, Q4 2025
Shares, value and share of portfolio for each institution holding MediaAlpha, Inc.; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| White Mountains Insurance Group Ltd | 17,856,614 | $231.2M | 88.28% | 00.0% | Unchanged |
| BlackRock, Inc. | 3,551,465 | $46.0M | 0.00% | −21,725−0.6% | Reduced |
| Vanguard Group Inc | 2,570,992 | $33.3M | 0.00% | −29,629−1.1% | Reduced |
| JPMorgan Chase & Co | 1,367,896 | $17.7M | 0.00% | +309,455+29.2% | Added |
| Clearline Capital LP | 1,301,453 | $16.9M | 1.27% | +10,604+0.8% | Added |
| Renaissance Technologies LLC | 1,045,400 | $13.5M | 0.02% | +100,300+10.6% | Added |
| Morgan Stanley | 960,154 | $12.4M | 0.00% | +88,123+10.1% | Added |
| Arrowstreet Capital, Limited Partnership | 855,904 | $11.1M | 0.01% | +335,452+64.5% | Added |
| Divisadero Street Capital Management, LP | 849,011 | $11.0M | 0.63% | +762,104+876.9% | Added |
| AQR Capital Management LLC | 804,095 | $10.4M | 0.01% | +33,416+4.3% | Added |
| J. Goldman & Co LP | 786,369 | $10.2M | 0.40% | +255,342+48.1% | Added |
| Geode Capital Management, LLC | 777,304 | $10.1M | 0.00% | +7,530+1.0% | Added |
| Millennium Management LLC | 751,745 | $9.74M | 0.01% | −677,811−47.4% | Reduced |
| State Street Corp | 731,407 | $9.47M | 0.00% | +59,281+8.8% | Added |
| Victory Capital Management Inc | 729,457 | $9.45M | 0.01% | +18,638+2.6% | Added |
| Goldman Sachs Group Inc | 729,367 | $9.45M | 0.00% | −550,593−43.0% | Reduced |
| Jacobs Asset Management, LLC | 705,299 | $9.13M | 5.09% | −113,727−13.9% | Reduced |
| Jacobs Levy Equity Management, Inc | 700,497 | $9.07M | 0.04% | +139,732+24.9% | Added |
| Nuveen, LLC | 666,539 | $8.63M | 0.00% | −23,926−3.5% | Reduced |
| Acadian Asset Management LLC | 606,171 | $7.84M | 0.01% | +186,332+44.4% | Added |
| Shay Capital LLC | 591,000 | $7.65M | 1.23% | −199,100−25.2% | Reduced |
| G2 Investment Partners Management LLC | 496,916 | $6.44M | 1.53% | +121,443+32.3% | Added |
| D. E. Shaw & Co., Inc. | 397,380 | $5.15M | 0.00% | −57,503−12.6% | Reduced |
| Jane Street Group, LLC | 360,129 | $4.66M | 0.01% | +183,824+104.3% | Added |
| Franklin Resources Inc | 328,712 | $4.26M | 0.00% | +10,740+3.4% | Added |
| Marshall Wace, LLP | 328,388 | $4.25M | 0.00% | +145,645+79.7% | Added |
| Dimensional Fund Advisors LP | 319,798 | $4.14M | 0.00% | +201,106+169.4% | Added |
| Qube Research & Technologies Ltd | 284,012 | $3.68M | 0.01% | −220,330−43.7% | Reduced |
| Charles Schwab Investment Management Inc | 279,817 | $3.62M | 0.00% | +830.0% | Added |
| Triad Investment Management | 275,437 | $3.57M | 3.61% | +275,437 | New |
| BNP Paribas Arbitrage, SA | 273,151 | $3.54M | 0.00% | +79,564+41.1% | Added |
| Northern Trust Corp | 267,278 | $3.46M | 0.00% | −20,484−7.1% | Reduced |
| Janus Henderson Group PLC | 265,906 | $3.44M | 0.00% | −120,249−31.1% | Reduced |
| Pacer Advisors, Inc. | 263,024 | $3.41M | 0.01% | +16,597+6.7% | Added |
| Y-Intercept (Hong Kong) Ltd | 210,352 | $2.72M | 0.06% | +2,736+1.3% | Added |
| Stoic Point Capital Management LLC | 207,298 | $2.68M | 2.28% | +207,298 | New |
| Balyasny Asset Management LLC | 184,159 | $2.38M | 0.00% | +184,159 | New |
| Citadel Advisors LLC | 169,647 | $2.20M | 0.00% | +169,647 | New |
| PDT Partners, LLC | 165,540 | $2.14M | 0.14% | 00.0% | Unchanged |
| Canada Pension Plan Investment Board | 136,500 | $1.77M | 0.00% | +5,900+4.5% | Added |
| Squarepoint Ops LLC | 124,288 | $1.61M | 0.00% | +93,630+305.4% | Added |
| Man Group plc | 110,876 | $1.44M | 0.00% | +110,876 | New |
| HRT Financial LP | 109,023 | $1.41M | 0.00% | +109,023 | New |
| Boothbay Fund Management, LLC | 108,143 | $1.40M | 0.04% | +37,477+53.0% | Added |
| Barclays PLC | 91,424 | $1.18M | 0.00% | +5,584+6.5% | Added |
| Russell Investments Group, Ltd. | 90,843 | $1.18M | 0.00% | +39,209+75.9% | Added |
| XTX Topco Ltd | 90,702 | $1.17M | 0.03% | +61,628+212.0% | Added |
| Ieq Capital, LLC | 88,136 | $1.14M | 0.00% | +8,579+10.8% | Added |
| Bank of New York Mellon Corp | 87,312 | $1.13M | 0.00% | −11,832−11.9% | Reduced |
| Tudor Investment Corp Et Al | 83,330 | $1.08M | 0.01% | +83,330 | New |
| Nomura Holdings Inc | 82,313 | $1.07M | 0.00% | +29,348+55.4% | Added |
| Lighthouse Investment Partners, LLC | 82,050 | $1.06M | 0.04% | −271,880−76.8% | Reduced |
| SEI Investments Co | 81,844 | $1.06M | 0.00% | +19,123+30.5% | Added |
| ExodusPoint Capital Management, LP | 81,791 | $1.06M | 0.01% | +81,791 | New |
| Susquehanna International Group, LLP | 80,990 | $1.05M | 0.00% | +16,810+26.2% | Added |
| Globeflex Capital L P | 80,233 | $1.04M | 0.16% | +80,233 | New |
| Allianz Asset Management GmbH | 70,176 | $908.8K | 0.00% | 00.0% | Unchanged |
| Mariner, LLC | 69,891 | $905.4K | 0.00% | +7,982+12.9% | Added |
| Los Angeles Capital Management LLC | 72,285 | $884.0K | 0.00% | −32,295−30.9% | Reduced |
| UBS Asset Management Americas Inc | 65,085 | $842.9K | 0.00% | −6,373−8.9% | Reduced |
| Blair William & Co | 60,146 | $778.9K | 0.00% | −6,051−9.1% | Reduced |
| Two Sigma Investments, LP | 59,860 | $775.2K | 0.00% | +37,336+165.8% | Added |
| UBS Group AG | 59,689 | $773.0K | 0.00% | −78,497−56.8% | Reduced |
| Swiss National Bank | 58,700 | $760.2K | 0.00% | 00.0% | Unchanged |
| Amundi | 58,616 | $759.1K | 0.00% | +58,616 | New |
| Bank of America Corp | 58,164 | $753.2K | 0.00% | −23,915−29.1% | Reduced |
| Raymond James Financial Inc | 52,708 | $682.6K | 0.00% | +11,300+27.3% | Added |
| Rhumbline Advisers | 48,522 | $628.4K | 0.00% | −5,068−9.5% | Reduced |
| State of Wisconsin Investment Board | 46,842 | $606.6K | 0.00% | +15,651+50.2% | Added |
| Gsa Capital Partners LLP | 46,784 | $606.0K | 0.05% | +46,784 | New |
| Mackenzie Financial Corp | 42,975 | $558.9K | 0.00% | +27,858+184.3% | Added |
| Quantinno Capital Management LP | 42,748 | $553.6K | 0.00% | +25,495+147.8% | Added |
| CWM, LLC | 42,278 | $548.0K | 0.00% | +3,895+10.1% | Added |
| Allspring Global Investments Holdings, LLC | 42,950 | $513.3K | 0.00% | +3,755+9.6% | Added |
| Verition Fund Management LLC | 39,303 | $509.0K | 0.00% | −1,950−4.7% | Reduced |
| Gotham Asset Management, LLC | 39,123 | $506.6K | 0.00% | −3,321−7.8% | Reduced |
| State of Wyoming | 38,832 | $502.9K | 0.06% | −7,393−16.0% | Reduced |
| Quest Partners LLC | 37,463 | $485.1K | 0.03% | +27,604+280.0% | Added |
| Wells Fargo & Company | 37,072 | $480.1K | 0.00% | +16,610+81.2% | Added |
| Thrivent Financial for Lutherans | 36,379 | $471.0K | 0.00% | +36,379 | New |
| Principal Financial Group Inc | 35,403 | $458.5K | 0.00% | +10,687+43.2% | Added |
| PharVision Advisers, LLC | 34,034 | $440.7K | 0.22% | +9,554+39.0% | Added |
| Alliancebernstein L.P. | 33,930 | $439.4K | 0.00% | −4,700−12.2% | Reduced |
| Legal & General Group Plc | 33,817 | $437.9K | 0.00% | −117−0.3% | Reduced |
| Deutsche Bank AG | 31,640 | $409.7K | 0.00% | +1,231+4.0% | Added |
| Price T Rowe Associates Inc | 31,014 | $402.0K | 0.00% | +2,238+7.8% | Added |
| Versor Investments LP | 29,318 | $379.7K | 0.06% | +29,318 | New |
| Two Sigma Advisers, LP | 26,896 | $348.3K | 0.00% | +6,496+31.8% | Added |
| Fox Run Management, L.L.C. | 26,035 | $337.2K | 0.05% | +26,035 | New |
| Invesco Ltd. | 26,024 | $337.0K | 0.00% | +6,319+32.1% | Added |
| Spears Abacus Advisors LLC | 25,550 | $330.9K | 0.01% | −150−0.6% | Reduced |
| California State Teachers Retirement System | 25,504 | $330.3K | 0.00% | −4,843−16.0% | Reduced |
| Creative Planning | 25,272 | $327.3K | 0.00% | +5,743+29.4% | Added |
| Wealth Enhancement Advisory Services, LLC | 26,437 | $313.3K | 0.00% | +6,225+30.8% | Added |
| Graham Capital Management, L.P. | 23,427 | $303.4K | 0.01% | +23,427 | New |
| Brookwood Investment Group LLC | 22,841 | $295.8K | 0.04% | +22,841 | New |
| Mangrove Partners | 22,700 | $294.0K | 0.02% | +22,700 | New |
| MetLife Investment Management | 21,402 | $277.2K | 0.00% | 00.0% | Unchanged |
| Cerity Partners LLC | 20,777 | $269.1K | 0.00% | −6,867−24.8% | Reduced |
| Point72 Asset Management, L.P. | 18,751 | $242.8K | 0.00% | +18,751 | New |