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MediaAlpha

152 hedge funds and large institutions have $528M invested in MediaAlpha in 2025 Q2 according to their latest regulatory filings, with 30 funds opening new positions, 66 increasing their positions, 44 reducing their positions, and 22 closing their positions.

New
Increased
Maintained
Reduced
Closed

4,797% more call options, than puts

Call options by funds: $1.42M | Put options by funds: $29K

50% more funds holding in top 10

Funds holding in top 10: 23 (+1)

50% more repeat investments, than reductions

Existing positions increased: 66 | Existing positions reduced: 44

36% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 22

21% more capital invested

Capital invested by funds: $436M → $528M (+$92.2M)

6% more funds holding

Funds holding: 144152 (+8)

1.22% more ownership

Funds ownership: 85.14%86.35% (+1.2%)

Holders
152
Holders Change
+8
Holders Change %
+5.56%
% of All Funds
2%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
30
Increased
66
Reduced
44
Closed
22
Calls
$1.42M
Puts
$29K
Net Calls
+$1.39M
Net Calls Change
-$803K
Name Holding Trade Value Shares
Change
Change in
Stake
Allianz Asset Management
51
Allianz Asset Management
Germany
$770K -$883K -91,496 -57%
EGM
52
Engineers Gate Manager
New York
$758K +$39.6K +4,100 +6%
Tudor Investment Corp
53
Tudor Investment Corp
Connecticut
$725K -$12K -1,241 -2%
Two Sigma Investments
54
Two Sigma Investments
New York
$724K -$669K -69,302 -51%
Dimensional Fund Advisors
55
Dimensional Fund Advisors
Texas
$702K +$619K +64,108 New
William Blair & Company
56
William Blair & Company
Illinois
$701K -$1.25K -130 -0.2%
Swiss National Bank
57
Swiss National Bank
Switzerland
$643K -$103K -10,700 -15%
Squarepoint
58
Squarepoint
New York
$642K -$733K -75,891 -56%
RhumbLine Advisers
59
RhumbLine Advisers
Massachusetts
$609K +$137K +14,234 +34%
Amundi
60
Amundi
France
$598K +$555K +57,537 New
Russell Investments Group
61
Russell Investments Group
United Kingdom
$592K +$176K +18,239 +51%
Victory Capital Management
62
Victory Capital Management
Texas
$572K -$241K -24,998 -32%
HSBC Holdings
63
HSBC Holdings
United Kingdom
$561K +$11K +1,144 +2%
Mariner
64
Mariner
Kansas
$520K -$862K -89,306 -65%
IC
65
IEQ Capital
California
$488K +$148K +15,365 +53%
Verition Fund Management
66
Verition Fund Management
Connecticut
$473K -$108K -11,171 -21%
Two Sigma Advisers
67
Two Sigma Advisers
New York
$459K -$375K -38,800 -48%
GCM
68
Graham Capital Management
Connecticut
$451K -$316K -32,781 -44%
Allspring Global Investments
69
Allspring Global Investments
North Carolina
$429K -$26.2K -2,716 -6%
CS
70
Cannell & Spears
New York
$428K -$49.2K -5,100 -12%
Nomura Holdings
71
Nomura Holdings
Japan
$427K +$377K +39,015 New
AllianceBernstein
72
AllianceBernstein
Tennessee
$423K +$99.4K +10,300 +36%
GAM
73
Gotham Asset Management
New York
$422K +$372K +38,504 New
LIP
74
Lighthouse Investment Partners
Florida
$416K -$1.02M -106,058 -74%
Legal & General Group
75
Legal & General Group
United Kingdom
$398K +$79.4K +8,229 +29%

MAX Hedge Fund Activity: Q2 2025 in Review

152 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q2 2025, worth a combined $528M — up 21% from $436M a quarter earlier.

Buyers outnumbered sellers: 30 funds opened new MAX positions and 22 closed out — a net gain of 8 holders — while 66 added to existing stakes and 44 trimmed.

The largest buyer was Goldman Sachs, adding an estimated $12.3M. The largest seller was TimesSquare Capital Management, exiting entirely with an estimated $12.7M sold.

  • 152 institutional investors held MediaAlpha (MAX) as of Q2 2025, up from 144 in Q1 2025.
  • Funds reported $528M of MediaAlpha stock for Q2 2025, up 21% quarter-over-quarter.
  • 30 funds opened new MediaAlpha positions in Q2 2025 and 22 closed out, a net change of +8 holders.
  • The largest MediaAlpha buyer in Q2 2025 was Goldman Sachs, an estimated $12.3M added.
  • The largest MediaAlpha seller in Q2 2025 was TimesSquare Capital Management, an estimated $12.7M sold.

Based on aggregated 13F filings for Q2 2025.