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MediaAlpha
MAX

89 hedge funds and large institutions have $393M invested in MediaAlpha in 2022 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 34 increasing their positions, 28 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

21% more repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 28

3.06% less ownership

Funds ownership: 99.01% → 95.95% (-3.1%)

6% less funds holding

Funds holding: 95 → 89 (-6)

24% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 17

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

42% less capital invested

Capital invested by funds: $677M → $393M (-$284M)

Holders
89
Holders Change
-6
Holders Change %
-6.32%
% of All Funds
1.5%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.03%
New
13
Increased
34
Reduced
28
Closed
17
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
NCM
Nantahala Capital Management
Connecticut
+$14.7M
2
BBCM
Broad Bay Capital Management
New York
+$5.76M
3
ACM
Ararat Capital Management
Connecticut
+$5.57M
4
Wellington Management Group
Wellington Management Group
Massachusetts
+$3.4M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$1.75M

Top Sellers

1
JP Morgan Chase
JP Morgan Chase
New York
-$14.2M
2
EA
Emerald Advisers
Pennsylvania
-$9.17M
3
EMFAT
Emerald Mutual Fund Advisers Trust
Pennsylvania
-$7.54M
4
Morgan Stanley
Morgan Stanley
New York
-$4.75M
5
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
-$4.63M
Name Holding Trade Value Shares
Change 		Change in
Stake
Los Angeles Capital Management
26
Los Angeles Capital Management
California
$588K +$424K +34,793 +140%
TC
27
TownSquare Capital
Utah
$572K -$271K -22,258 -28%
Stifel Financial
28
Stifel Financial
Missouri
$534K -$6.43K -527 -1%
Swiss National Bank
29
Swiss National Bank
Switzerland
$502K +$167K +13,700 +37%
Goldman Sachs
30
Goldman Sachs
New York
$481K +$109K +8,954 +22%
Marshall Wace
31
Marshall Wace
United Kingdom
$399K +$41.5K +3,402 +9%
Renaissance Technologies
32
Renaissance Technologies
New York
$398K -$498K -40,800 -50%
Neuberger Berman Group
33
Neuberger Berman Group
New York
$372K -$41.9K -3,433 -8%
SEI Investments
34
SEI Investments
Pennsylvania
$357K – – –
AAM
35
Azzad Asset Management
Virginia
$332K +$4.44K +364 +1%
California State Teachers Retirement System (CalSTRS)
36
California State Teachers Retirement System (CalSTRS)
California
$284K +$76.6K +6,281 +28%
M&T Bank
37
M&T Bank
New York
$264K -$612K -50,187 -65%
RhumbLine Advisers
38
RhumbLine Advisers
Massachusetts
$260K +$62.6K +5,131 +24%
William Blair & Company
39
William Blair & Company
Illinois
$248K -$234K -19,223 -43%
T. Rowe Price Associates
40
T. Rowe Price Associates
Maryland
$248K +$3.81K +312 +1%
Lazard Asset Management
41
Lazard Asset Management
New York
$241K -$2.52M -206,887 -89%
Sumitomo Mitsui Trust Group
42
Sumitomo Mitsui Trust Group
Japan
$241K – – –
Morgan Stanley
43
Morgan Stanley
New York
$226K -$4.75M -389,014 -94%
JP Morgan Chase
44
JP Morgan Chase
New York
$210K -$14.2M -1,161,657 -98%
Deutsche Bank
45
Deutsche Bank
Germany
$205K -$1.05M -86,251 -81%
US Bancorp
46
US Bancorp
Minnesota
$186K -$19.4K -1,587 -8%
D.E. Shaw & Co
47
D.E. Shaw & Co
New York
$182K +$226K +18,504 New
Bank of America
48
Bank of America
North Carolina
$166K +$20.5K +1,684 +11%
New York State Common Retirement Fund
49
New York State Common Retirement Fund
New York
$166K +$40.5K +3,320 +25%
BTWM
50
Baker Tilly Wealth Management
Wisconsin
$163K -$10K -822 -5%
1
2
3 4 5

MAX Hedge Fund Activity: Q2 2022 in Review

89 of the 5,936 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q2 2022, worth a combined $393M — down 42% from $677M a quarter earlier.

Sellers outnumbered buyers: 17 funds closed out of MAX and 13 opened new positions — a net loss of 4 holders — while 28 trimmed existing stakes and 34 added.

The largest buyer was Nantahala Capital Management, adding an estimated $14.7M. The largest seller was JP Morgan Chase, cutting an estimated $14.2M.

  • 89 institutional investors held MediaAlpha (MAX) as of Q2 2022, down from 95 in Q1 2022.
  • Funds reported $393M of MediaAlpha stock for Q2 2022, down 42% quarter-over-quarter.
  • 13 funds opened new MediaAlpha positions in Q2 2022 and 17 closed out, a net change of -4 holders.
  • The largest MediaAlpha buyer in Q2 2022 was Nantahala Capital Management, an estimated $14.7M added.
  • The largest MediaAlpha seller in Q2 2022 was JP Morgan Chase, an estimated $14.2M sold.

Based on aggregated 13F filings for Q2 2022.