MediaAlpha
MAX
101 hedge funds and large institutions have $399M invested in MediaAlpha in 2022 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 35 increasing their positions, 27 reducing their positions, and 11 closing their positions.
118% more first-time investments, than exits
New positions opened: 24 | Existing positions closed: 11
30% more repeat investments, than reductions
Existing positions increased: 35 | Existing positions reduced: 27
15% more funds holding
Funds holding: 88 → 101 (+13)
11% more capital invested
Capital invested by funds: $358M → $399M (+$40.8M)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
4.14% less ownership
Funds ownership: 97.1% → 92.96% (-4.1%)
90% less call options, than puts
Call options by funds: $1K | Put options by funds: $10K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PFMOSF
Philadelphia Financial Management of San Francisco
San Francisco,
California
|
+$5.9M |
| 2 |
PMAM
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
|
+$3.41M |
| 3 |
Millennium Management
New York
|
+$2.6M |
| 4 |
EARNEST Partners
Atlanta,
Georgia
|
+$1.7M |
| 5 |
MHP
Manatuck Hill Partners
Westport,
Connecticut
|
+$1.21M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
Ararat Capital Management
Westport,
Connecticut
|
-$9.64M |
| 2 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
-$5.58M |
| 3 |
RCMNY
Rubric Capital Management (New York)
New York
|
-$4.26M |
| 4 |
NCM
Nantahala Capital Management
New Canaan,
Connecticut
|
-$3.03M |
| 5 |
Wellington Management Group
Boston,
Massachusetts
|
-$2.57M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
101
Wellington Management Group
Boston,
Massachusetts
| – | -$2.57M | -293,838 | Closed |
|
102
Envestnet Asset Management
Chicago,
Illinois
| – | -$1.78M | -203,499 | Closed |
|
103
Los Angeles Capital Management
Los Angeles,
California
| – | -$732K | -83,635 | Closed |
|
|
SC
104
Shay Capital
New York
| – | -$591K | -67,500 | Closed |
|
105
MML Investors Services
Springfield,
Massachusetts
| – | -$141K | -16,130 | Closed |
|
106
BNP Paribas Financial Markets
Paris,
France
| – | -$37.1K | -4,237 | Closed |
|
107
Macquarie Group
Sydney, NSW 2000,
Australia
| – | -$34K | -3,521 | Closed |
|
|
EP
108
Elkhorn Partners
Omaha,
Nebraska
| – | -$18K | -2,111 | Closed |
|
|
WWM
109
Wolff Wiese Magana
Carslbad,
California
| – | -$11K | -1,279 | Closed |
|
|
CFGS
110
Concourse Financial Group Securities
Birmingham,
Alabama
| – | -$9.25K | -839 | Closed |
|
|
BFEC
111
Benjamin F. Edwards & Company
St. Louis,
Missouri
| – | -$705 | -64 | -58% |
|
112
Rockefeller Capital Management
New York
| – | -$242 | -22 | -33% |
|
MAX Hedge Fund Activity: Q4 2022 in Review
101 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q4 2022, worth a combined $399M — up 11% from $358M a quarter earlier.
Buyers outnumbered sellers: 24 funds opened new MAX positions and 11 closed out — a net gain of 13 holders — while 35 added to existing stakes and 27 trimmed.
The largest buyer was Philadelphia Financial Management of San Francisco, opening a new position worth an estimated $5.9M. The largest seller was Ararat Capital Management, cutting an estimated $9.64M.
- 101 institutional investors held MediaAlpha (MAX) as of Q4 2022, up from 88 in Q3 2022.
- Funds reported $399M of MediaAlpha stock for Q4 2022, up 11% quarter-over-quarter.
- 24 funds opened new MediaAlpha positions in Q4 2022 and 11 closed out, a net change of +13 holders.
- The largest MediaAlpha buyer in Q4 2022 was Philadelphia Financial Management of San Francisco, an estimated $5.9M added.
- The largest MediaAlpha seller in Q4 2022 was Ararat Capital Management, an estimated $9.64M sold.
Based on aggregated 13F filings for Q4 2022.