Nantahala Capital Management’s MediaAlpha MAX Stock Holding History

Nantahala 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 Q1	–	Sell	-123,564	Closed	-$1.4M	–	154
2024 Q4	$1.4M	Hold	123,564	–	–	0.06%	115
2024 Q3	$2.24M	Hold	123,564	–	–	0.11%	95
2024 Q2	$1.63M	Sell	123,564 -25,807	-17%	-$475K	0.1%	94
2024 Q1	$3.04M	Sell	149,371 -31,497	-17%	-$503K	0.17%	81
2023 Q4	$2.02M	Sell	180,868 -53,504	-23%	-$530K	0.12%	88
2023 Q3	$1.94M	Sell	234,372 -908,613	-79%	-$8.11M	0.17%	90
2023 Q2	$11.8M	Buy	1,142,985 +55,992	+5%	+$506K	1.14%	21
2023 Q1	$16.3M	Sell	1,086,993 -196,247	-15%	-$2.65M	1.25%	21
2022 Q4	$12.8M	Sell	1,283,240 -275,268	-18%	-$3.03M	0.83%	31
2022 Q3	$13.6M	Sell	1,558,508 -82,116	-5%	-$799K	0.88%	33
2022 Q2	$16.2M	Buy	1,640,624 +1,203,130	+275%	+$14.7M	0.81%	33
2022 Q1	$7.24M	Buy	437,494 +67,090	+18%	+$939K	0.32%	55
2021 Q4	$5.72M	Buy	+370,404	New	+$6.18M	0.2%	75

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

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

TCM

TimesSquare Capital Management New York $5.89B AUM 28.74% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

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

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

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

Nantahala Capital Management's MAX Position: Q1 2025 in Review

Nantahala Capital Management sold out of MediaAlpha (MAX) in Q1 2025, closing a stake of 123,564 shares — an estimated $1.4M sold.

Nantahala Capital Management first reported a position in MAX in Q4 2021 and held it in 13 quarters. The position peaked at $16.3M in Q1 2023. 144 funds tracked by Wall St. Rank hold MAX as of Q1 2025.

Nantahala Capital Management reported no remaining MediaAlpha position as of Q1 2025 after selling out during the quarter.
Nantahala Capital Management sold 123,564 MediaAlpha shares in Q1 2025, an estimated $1.4M.
Nantahala Capital Management first reported a position in MediaAlpha in Q4 2021 and held it in 13 quarters.
Nantahala Capital Management's MediaAlpha position peaked at $16.3M in Q1 2023.
144 funds tracked by Wall St. Rank held MediaAlpha as of Q1 2025.

Based on Nantahala Capital Management's 13F filing for Q1 2025, filed 15 May 2025.