Norges Bank’s MediaAlpha MAX Stock Holding History

Norges Bank’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	-281,900	Closed	-$3.18M	–	1804
2024 Q4	$3.18M	Buy	+281,900	New	+$4.06M	﹤0.01%	1614
2023 Q4	–	Sell	-395,030	Closed	-$3.26M	–	1982
2023 Q3	$3.26M	Sell	395,030 -1,204,970	-75%	-$10.8M	﹤0.01%	1763
2023 Q2	$16.5M	Sell	1,600,000 -82,700	-5%	-$748K	﹤0.01%	1332
2023 Q1	$25.2M	Buy	1,682,700 +82,700	+5%	+$1.12M	0.01%	1171
2022 Q4	$15.9M	Hold	1,600,000	–	–	﹤0.01%	1377
2022 Q3	$14M	Hold	1,600,000	–	–	﹤0.01%	1393
2022 Q2	$15.8M	Hold	1,600,000	–	–	﹤0.01%	1357
2022 Q1	$26.5M	Hold	1,600,000	–	–	0.01%	1241
2021 Q4	$24.7M	Buy	+1,600,000	New	+$26.7M	0.01%	1360
2021 Q1	–	Sell	-40,000	Closed	-$1.56M	–	2171
2020 Q4	$1.56M	Buy	+40,000	New	+$1.55M	﹤0.01%	1979

Other funds holding MAX

WMIG

White Mountains Insurance Group Hanover, New Hampshire $394M AUM 22.47% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

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

BBCM

Broad Bay Capital Management New York $1.07B AUM 90.15% 1-Year Est. Return

Clearline Capital New York $1.68B AUM 53.07% 1-Year Est. Return

TCM

TimesSquare Capital Management New York $6.8B AUM 45.85% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

D.E. Shaw & Co New York $210B AUM 57.28% 1-Year Est. Return

Norges Bank's MAX Position: Q1 2025 in Review

Norges Bank sold out of MediaAlpha (MAX) in Q1 2025, closing a stake of 281,900 shares — an estimated $3.18M sold.

Norges Bank first reported a position in MAX in Q4 2020 and held it in 10 quarters. The position peaked at $26.5M in Q1 2022. 144 funds tracked by Wall St. Rank hold MAX as of Q1 2025.

Norges Bank reported no remaining MediaAlpha position as of Q1 2025 after selling out during the quarter.
Norges Bank sold 281,900 MediaAlpha shares in Q1 2025, an estimated $3.18M.
Norges Bank first reported a position in MediaAlpha in Q4 2020 and held it in 10 quarters.
Norges Bank's MediaAlpha position peaked at $26.5M in Q1 2022.
144 funds tracked by Wall St. Rank held MediaAlpha as of Q1 2025.

Based on Norges Bank's 13F filing for Q1 2025, filed 13 May 2025.