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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
WWM
76
Wolff Wiese Magana
California
$10K – – –
Fidelity Investments
77
Fidelity Investments
Massachusetts
$6K -$11K -900 -58%
CAPTRUST Financial Advisors
78
CAPTRUST Financial Advisors
North Carolina
$6K +$73 +6 +0.9%
FHA
79
First Horizon Advisors
Tennessee
$4K +$5.5K +451 New
TWA
80
TCI Wealth Advisors
Arizona
$3K +$3.98K +326 New
Royal Bank of Canada
81
Royal Bank of Canada
Ontario, Canada
$2K -$14.3K -1,170 -83%
S
82
SignatureFD
Georgia
$2K -$5.05K -414 -66%
FF
83
FourThought Financial
Florida
$2K – – –
BFEC
84
Benjamin F. Edwards & Company
Missouri
$1K – – –
PCG
85
Private Capital Group
Connecticut
$1K – – –
PFO
86
PMC FIG Opportunities
Israel
$985 +$1.22K +100 New
EA
87
Emerald Advisers
Pennsylvania
– -$9.17M -553,893 Closed
EMFAT
88
Emerald Mutual Fund Advisers Trust
Pennsylvania
– -$7.54M -455,816 Closed
MHP
89
Manatuck Hill Partners
Connecticut
– -$3.78M -228,600 Closed
AI
90
Atria Investments
North Carolina
– -$1.14M -68,628 Closed
Nordea Investment Management
91
Nordea Investment Management
Sweden
– -$751K -46,507 Closed
Ameriprise
92
Ameriprise
Minnesota
– -$715K -43,232 Closed
Two Sigma Investments
93
Two Sigma Investments
New York
– -$402K -24,276 Closed
Westfield Capital Management
94
Westfield Capital Management
Massachusetts
– -$344K -20,780 Closed
Envestnet Asset Management
95
Envestnet Asset Management
Illinois
– -$243K -14,670 Closed
VFA
96
Values First Advisors
Tennessee
– -$201K -12,136 Closed
Allspring Global Investments
97
Allspring Global Investments
North Carolina
– -$131K -7,929 Closed
BAM
98
Bullseye Asset Management
Colorado
– -$93K -5,633 Closed
PFS
99
Prospera Financial Services
Texas
– -$28K -1,670 Closed
UB
100
UMB Bank
Missouri
– -$13K -792 Closed
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.