Dark Forest Capital Management’s MediaAlpha MAX Stock Holding History

Dark Forest Capital Management’s Portfolio MAX Stock Details MAX Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q2	–	Sell	-14,211	Closed	-$131K	–	1387
2025 Q1	$131K	Sell	14,211 -13,661	-49%	-$146K	0.01%	1168
2024 Q4	$315K	Buy	+27,872	New	+$401K	0.05%	643
2024 Q3	–	Sell	-13,338	Closed	-$176K	–	1076
2024 Q2	$176K	Buy	+13,338	New	+$245K	0.03%	589
2022 Q1	–	Sell	-300	Closed	-$5K	–	1568
2021 Q4	$5K	Sell	300 -16,556	-98%	-$276K	﹤0.01%	1163
2021 Q3	$315K	Buy	+16,856	New	+$456K	0.11%	167

Other funds holding MAX

WMIG

White Mountains Insurance Group Hanover, New Hampshire $313M AUM 14.8% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

BBCM

Broad Bay Capital Management New York $1.18B AUM 65.45% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Clearline Capital New York $1.93B AUM 38.13% 1-Year Est. Return

Nuveen Charlotte, North Carolina $369B AUM 31.66% 1-Year Est. Return

D.E. Shaw & Co New York $166B AUM 43.98% 1-Year Est. Return

JAM

Jacobs Asset Management New York $167M AUM 22.68% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

Dark Forest Capital Management's MAX Position: Q2 2025 in Review

Dark Forest Capital Management sold out of MediaAlpha (MAX) in Q2 2025, closing a stake of 14,211 shares — an estimated $131K sold.

Dark Forest Capital Management first reported a position in MAX in Q3 2021 and held it in 5 quarters. The position peaked at $315K in Q3 2021. 152 funds tracked by Wall St. Rank hold MAX as of Q2 2025.

Dark Forest Capital Management reported no remaining MediaAlpha position as of Q2 2025 after selling out during the quarter.
Dark Forest Capital Management sold 14,211 MediaAlpha shares in Q2 2025, an estimated $131K.
Dark Forest Capital Management first reported a position in MediaAlpha in Q3 2021 and held it in 5 quarters.
Dark Forest Capital Management's MediaAlpha position peaked at $315K in Q3 2021.
152 funds tracked by Wall St. Rank held MediaAlpha as of Q2 2025.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.