MediaAlpha
MAX
122 hedge funds and large institutions have $906M invested in MediaAlpha in 2024 Q1 according to their latest regulatory filings, with 40 funds opening new positions, 37 increasing their positions, 33 reducing their positions, and 8 closing their positions.
400% more first-time investments, than exits
New positions opened: 40 | Existing positions closed: 8
196% more call options, than puts
Call options by funds: $1.52M | Put options by funds: $513K
92% more capital invested
Capital invested by funds: $471M → $906M (+$435M)
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
34% more funds holding
Funds holding: 91 → 122 (+31)
12% more repeat investments, than reductions
Existing positions increased: 37 | Existing positions reduced: 33
3.16% more ownership
Funds ownership: 89.98% → 93.14% (+3.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCM
TimesSquare Capital Management
New York
|
+$17.4M |
| 2 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
+$7.44M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$4.91M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
+$4.42M |
| 5 |
JGC
J. Goldman & Co
New York
|
+$3.79M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
Ararat Capital Management
Westport,
Connecticut
|
-$16.6M |
| 2 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
-$6.3M |
| 3 |
CC
Clearline Capital
New York
|
-$5.45M |
| 4 |
BBCM
Broad Bay Capital Management
New York
|
-$4.13M |
| 5 |
Millennium Management
New York
|
-$3.1M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ASN
126
Advisory Services Network
Atlanta,
Georgia
| – | -$38.4K | -3,445 | Closed |
|
|
QT
127
Quantbot Technologies
New York
| – | -$7.8K | -700 | Closed |
|
128
Fifth Third Bancorp
Cincinnati,
Ohio
| – | -$1.28K | -115 | Closed |
|
|
GI
129
Gradient Investments
Arden Hills,
Minnesota
| – | -$502 | -45 | Closed |
|
|
FFA
130
Farther Finance Advisors
San Francisco,
California
| – | -$301 | -27 | Closed |
|
MAX Hedge Fund Activity: Q1 2024 in Review
122 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q1 2024, worth a combined $906M — up 92% from $471M a quarter earlier.
Buyers outnumbered sellers: 40 funds opened new MAX positions and 8 closed out — a net gain of 32 holders — while 37 added to existing stakes and 33 trimmed.
The largest buyer was TimesSquare Capital Management, opening a new position worth an estimated $17.4M. The largest seller was Ararat Capital Management, cutting an estimated $16.6M.
- 122 institutional investors held MediaAlpha (MAX) as of Q1 2024, up from 91 in Q4 2023.
- Funds reported $906M of MediaAlpha stock for Q1 2024, up 92% quarter-over-quarter.
- 40 funds opened new MediaAlpha positions in Q1 2024 and 8 closed out, a net change of +32 holders.
- The largest MediaAlpha buyer in Q1 2024 was TimesSquare Capital Management, an estimated $17.4M added.
- The largest MediaAlpha seller in Q1 2024 was Ararat Capital Management, an estimated $16.6M sold.
Based on aggregated 13F filings for Q1 2024.