MediaAlpha, Inc. (MAX) Institutional Ownership

Institutions by Trading Activity

Ownership Statistics

56,617,837Shares Outstanding

48,448,298Shares held by institutions

$455,898,484Value of institutional holdings

85.57%Institutional ownership %

4.42%Shares Changed QoQ

168No. of institutional investors

Shares Owned by Institutions

Shares Purchased/Sold by Institutions

Ownership Summary

MediaAlpha, Inc. (NYSE:MAX) showed up in the 13F filings of 168 institutional investors as of December 2025.

Their combined ownership stood at 84.3% of outstanding shares in December 2025, down from 86.6% in September 2025.
They increased total shares held in MAX by 3.18% quarter over quarter, and investors in MediaAlpha increased 4.35% from a year ago.
Of these 168 holders, 105 added to their stakes in MediaAlpha, 50 trimmed positions, and 13 made no changes.
The aggregate institutional position in MediaAlpha amounted to 47.72Mn shares as of December 2025, up by 1.47Mn shares quarter on quarter, and down 1.2Mn shares year over year.
White Mountains Insurance Group Ltd holds the largest position in MAX at 17.86Mn shares as of December 31, 2025, or 31.54% of shares outstanding.
Top purchasers of MAX stock for the quarter ending December 2025 included Divisadero Street Capital Management, LP (762.1K), ARROWSTREET CAPITAL, LIMITED PARTNERSHIP (335.45K), Triad Investment Management (275.44K), J. Goldman & Co LP (255.34K), Stoic Point Capital Management LLC (207.3K).
The biggest sellers of MediaAlpha for the quarter ending December 2025 included Jpmorgan Chase & Co (748.99K), MILLENNIUM MANAGEMENT LLC (677.81K), Lighthouse Investment Partners, LLC (271.88K), Qube Research & Technologies Ltd (220.33K), Shay Capital LLC (199.1K).
Per Business Quant, the top 10 investors in MAX for the quarter ending December 2025 include White Mountains Insurance Group Ltd (17.86Mn), BlackRock, Inc. (3.55Mn), VANGUARD GROUP INC (2.57Mn), Goldman Sachs Group Inc (1.46Mn), Jpmorgan Chase & Co (1.37Mn), Clearline Capital LP (1.3Mn), RENAISSANCE TECHNOLOGIES LLC (1.05Mn), Morgan Stanley (960.15K), ARROWSTREET CAPITAL, LIMITED PARTNERSHIP (855.9K), Divisadero Street Capital Management, LP (849.01K).

168 Institutional Holders

48,448,298 Total Shares Held

Rows:

Download Data

Owner Name	Date	Shares Held	Change (QoQ)	Change (%)	Value (USD)
White Mountains Insurance Group Ltd	31 Dec, 2025	17,856,614	0	0.00%	$231,243,151.00
BlackRock, Inc.	31 Dec, 2025	3,551,465	-21,725	-0.61%	$45,991,471.00
VANGUARD GROUP INC	31 Dec, 2025	2,570,992	-29,629	-1.14%	$33,294,347.00
Goldman Sachs Group Inc	31 Dec, 2025	1,458,734	178,774	13.97%	$18,890,606.00
Jpmorgan Chase & Co	31 Dec, 2025	1,367,896	-748,986	-35.38%	$17,714,253.00
Clearline Capital LP	31 Dec, 2025	1,301,453	10,604	0.82%	$16,853,816.00
RENAISSANCE TECHNOLOGIES LLC	31 Dec, 2025	1,045,400	100,300	10.61%	$13,537,930.00
Morgan Stanley	31 Dec, 2025	960,154	88,123	10.11%	$12,433,996.00
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	31 Dec, 2025	855,904	335,452	64.45%	$11,083,957.00
Divisadero Street Capital Management, LP	31 Dec, 2025	849,011	762,104	876.92%	$10,994,692.00
AQR CAPITAL MANAGEMENT LLC	31 Dec, 2025	804,095	33,416	4.34%	$10,413,030.00
J. Goldman & Co LP	31 Dec, 2025	786,369	255,342	48.08%	$10,183,479.00
GEODE CAPITAL MANAGEMENT, LLC	31 Dec, 2025	777,304	7,530	0.98%	$10,067,868.00
MILLENNIUM MANAGEMENT LLC	31 Dec, 2025	751,745	-677,811	-47.41%	$9,735,098.00
State Street Corp	31 Dec, 2025	731,407	59,281	8.82%	$9,471,721.00
VICTORY CAPITAL MANAGEMENT INC	31 Dec, 2025	729,457	18,638	2.62%	$9,446,468.00
JACOBS ASSET MANAGEMENT, LLC	31 Dec, 2025	705,299	-113,727	-13.89%	$9,133,622.00
JACOBS LEVY EQUITY MANAGEMENT, INC	31 Dec, 2025	700,497	139,732	24.92%	$9,071,436.00
Nuveen, LLC	31 Dec, 2025	666,539	-23,926	-3.47%	$8,631,680.00
ACADIAN ASSET MANAGEMENT LLC	31 Dec, 2025	606,171	186,332	44.38%	$7,840.00

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