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 |
|---|---|---|---|---|---|
| Quantinno Capital Management LP | 42,748 | $553.6K | 0.00% | +25,495+147.8% | Added |
| Mackenzie Financial Corp | 42,975 | $558.9K | 0.00% | +27,858+184.3% | Added |
| Gsa Capital Partners LLP | 46,784 | $606.0K | 0.05% | +46,784 | New |
| State of Wisconsin Investment Board | 46,842 | $606.6K | 0.00% | +15,651+50.2% | Added |
| Rhumbline Advisers | 48,522 | $628.4K | 0.00% | −5,068−9.5% | Reduced |
| Raymond James Financial Inc | 52,708 | $682.6K | 0.00% | +11,300+27.3% | Added |
| Bank of America Corp | 58,164 | $753.2K | 0.00% | −23,915−29.1% | Reduced |
| Amundi | 58,616 | $759.1K | 0.00% | +58,616 | New |
| Swiss National Bank | 58,700 | $760.2K | 0.00% | 00.0% | Unchanged |
| UBS Group AG | 59,689 | $773.0K | 0.00% | −78,497−56.8% | Reduced |
| Two Sigma Investments, LP | 59,860 | $775.2K | 0.00% | +37,336+165.8% | Added |
| Blair William & Co | 60,146 | $778.9K | 0.00% | −6,051−9.1% | Reduced |
| UBS Asset Management Americas Inc | 65,085 | $842.9K | 0.00% | −6,373−8.9% | Reduced |
| Los Angeles Capital Management LLC | 72,285 | $884.0K | 0.00% | −32,295−30.9% | Reduced |
| Mariner, LLC | 69,891 | $905.4K | 0.00% | +7,982+12.9% | Added |
| Allianz Asset Management GmbH | 70,176 | $908.8K | 0.00% | 00.0% | Unchanged |
| Globeflex Capital L P | 80,233 | $1.04M | 0.16% | +80,233 | New |
| Susquehanna International Group, LLP | 80,990 | $1.05M | 0.00% | +16,810+26.2% | Added |
| ExodusPoint Capital Management, LP | 81,791 | $1.06M | 0.01% | +81,791 | New |
| SEI Investments Co | 81,844 | $1.06M | 0.00% | +19,123+30.5% | Added |
| Lighthouse Investment Partners, LLC | 82,050 | $1.06M | 0.04% | −271,880−76.8% | Reduced |
| Nomura Holdings Inc | 82,313 | $1.07M | 0.00% | +29,348+55.4% | Added |
| Tudor Investment Corp Et Al | 83,330 | $1.08M | 0.01% | +83,330 | New |
| Bank of New York Mellon Corp | 87,312 | $1.13M | 0.00% | −11,832−11.9% | Reduced |
| Ieq Capital, LLC | 88,136 | $1.14M | 0.00% | +8,579+10.8% | Added |
| XTX Topco Ltd | 90,702 | $1.17M | 0.03% | +61,628+212.0% | Added |
| Russell Investments Group, Ltd. | 90,843 | $1.18M | 0.00% | +39,209+75.9% | Added |
| Barclays PLC | 91,424 | $1.18M | 0.00% | +5,584+6.5% | Added |
| Boothbay Fund Management, LLC | 108,143 | $1.40M | 0.04% | +37,477+53.0% | Added |
| HRT Financial LP | 109,023 | $1.41M | 0.00% | +109,023 | New |
| Man Group plc | 110,876 | $1.44M | 0.00% | +110,876 | New |
| Squarepoint Ops LLC | 124,288 | $1.61M | 0.00% | +93,630+305.4% | Added |
| Canada Pension Plan Investment Board | 136,500 | $1.77M | 0.00% | +5,900+4.5% | Added |
| PDT Partners, LLC | 165,540 | $2.14M | 0.14% | 00.0% | Unchanged |
| Citadel Advisors LLC | 169,647 | $2.20M | 0.00% | +169,647 | New |
| Balyasny Asset Management LLC | 184,159 | $2.38M | 0.00% | +184,159 | New |
| Stoic Point Capital Management LLC | 207,298 | $2.68M | 2.28% | +207,298 | New |
| Y-Intercept (Hong Kong) Ltd | 210,352 | $2.72M | 0.06% | +2,736+1.3% | Added |
| Pacer Advisors, Inc. | 263,024 | $3.41M | 0.01% | +16,597+6.7% | Added |
| Janus Henderson Group PLC | 265,906 | $3.44M | 0.00% | −120,249−31.1% | Reduced |
| Northern Trust Corp | 267,278 | $3.46M | 0.00% | −20,484−7.1% | Reduced |
| BNP Paribas Arbitrage, SA | 273,151 | $3.54M | 0.00% | +79,564+41.1% | Added |
| Triad Investment Management | 275,437 | $3.57M | 3.61% | +275,437 | New |
| Charles Schwab Investment Management Inc | 279,817 | $3.62M | 0.00% | +830.0% | Added |
| Qube Research & Technologies Ltd | 284,012 | $3.68M | 0.01% | −220,330−43.7% | Reduced |
| Dimensional Fund Advisors LP | 319,798 | $4.14M | 0.00% | +201,106+169.4% | Added |
| Marshall Wace, LLP | 328,388 | $4.25M | 0.00% | +145,645+79.7% | Added |
| Franklin Resources Inc | 328,712 | $4.26M | 0.00% | +10,740+3.4% | Added |
| Jane Street Group, LLC | 360,129 | $4.66M | 0.01% | +183,824+104.3% | Added |
| D. E. Shaw & Co., Inc. | 397,380 | $5.15M | 0.00% | −57,503−12.6% | Reduced |
| G2 Investment Partners Management LLC | 496,916 | $6.44M | 1.53% | +121,443+32.3% | Added |
| Shay Capital LLC | 591,000 | $7.65M | 1.23% | −199,100−25.2% | Reduced |
| Acadian Asset Management LLC | 606,171 | $7.84M | 0.01% | +186,332+44.4% | Added |
| Nuveen, LLC | 666,539 | $8.63M | 0.00% | −23,926−3.5% | Reduced |
| Jacobs Levy Equity Management, Inc | 700,497 | $9.07M | 0.04% | +139,732+24.9% | Added |
| Jacobs Asset Management, LLC | 705,299 | $9.13M | 5.09% | −113,727−13.9% | Reduced |
| Goldman Sachs Group Inc | 729,367 | $9.45M | 0.00% | −550,593−43.0% | Reduced |
| Victory Capital Management Inc | 729,457 | $9.45M | 0.01% | +18,638+2.6% | Added |
| State Street Corp | 731,407 | $9.47M | 0.00% | +59,281+8.8% | Added |
| Millennium Management LLC | 751,745 | $9.74M | 0.01% | −677,811−47.4% | Reduced |
| Geode Capital Management, LLC | 777,304 | $10.1M | 0.00% | +7,530+1.0% | Added |
| J. Goldman & Co LP | 786,369 | $10.2M | 0.40% | +255,342+48.1% | Added |
| AQR Capital Management LLC | 804,095 | $10.4M | 0.01% | +33,416+4.3% | Added |
| Divisadero Street Capital Management, LP | 849,011 | $11.0M | 0.63% | +762,104+876.9% | Added |
| Arrowstreet Capital, Limited Partnership | 855,904 | $11.1M | 0.01% | +335,452+64.5% | Added |
| Morgan Stanley | 960,154 | $12.4M | 0.00% | +88,123+10.1% | Added |
| Renaissance Technologies LLC | 1,045,400 | $13.5M | 0.02% | +100,300+10.6% | Added |
| Clearline Capital LP | 1,301,453 | $16.9M | 1.27% | +10,604+0.8% | Added |
| JPMorgan Chase & Co | 1,367,896 | $17.7M | 0.00% | +309,455+29.2% | Added |
| Vanguard Group Inc | 2,570,992 | $33.3M | 0.00% | −29,629−1.1% | Reduced |
| BlackRock, Inc. | 3,551,465 | $46.0M | 0.00% | −21,725−0.6% | Reduced |
| White Mountains Insurance Group Ltd | 17,856,614 | $231.2M | 88.28% | 00.0% | Unchanged |
| Broad Bay Capital Management, LP | 0 | $0 | 0.00% | −1,468,695−100.0% | Sold out |
| Lazard Asset Management LLC | 0 | $0 | 0.00% | −294,796−100.0% | Sold out |
| Algert Global LLC | 0 | $0 | 0.00% | −275,387−100.0% | Sold out |
| Earnest Partners LLC | 0 | $0 | 0.00% | −269,607−100.0% | Sold out |
| Janney Montgomery Scott LLC | 0 | $0 | 0.00% | −70,355−100.0% | Sold out |
| Semanteon Capital Management, LP | 0 | $0 | 0.00% | −44,583−100.0% | Sold out |
| Quantbot Technologies LP | 0 | $0 | 0.00% | −38,615−100.0% | Sold out |
| Jain Global LLC | 0 | $0 | 0.00% | −31,143−100.0% | Sold out |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 0 | $0 | 0.00% | −29,864−100.0% | Sold out |
| Dynamic Technology Lab Private Ltd | 0 | $0 | 0.00% | −29,237−100.0% | Sold out |
| Prelude Capital Management, LLC | 0 | $0 | 0.00% | −26,892−100.0% | Sold out |
| FourThought Financial Partners, LLC | 0 | $0 | 0.00% | −24,691−100.0% | Sold out |
| Axq Capital, LP | 0 | $0 | 0.00% | −23,144−100.0% | Sold out |
| Keebeck Alpha, LP | 0 | $0 | 0.00% | −15,492−100.0% | Sold out |
| Aigen Investment Management, LP | 0 | $0 | 0.00% | −13,179−100.0% | Sold out |
| Virtu Financial LLC | 0 | $0 | 0.00% | −12,749−100.0% | Sold out |
| Brevan Howard Capital Management LP | 0 | $0 | 0.00% | −12,289−100.0% | Sold out |
| Summit Wealth Group LLC | 0 | $0 | 0.00% | −16,471−100.0% | Sold out |
| LPL Financial LLC | 0 | $0 | 0.00% | −10,482−100.0% | Sold out |
| Corton Capital Inc. | – | – | – | – | Not filed |