MediaAlpha
MAX
162 hedge funds and large institutions have $452M invested in MediaAlpha in 2026 Q1 according to their latest regulatory filings, with 36 funds opening new positions, 59 increasing their positions, 54 reducing their positions, and 41 closing their positions.
1,699% more call options, than puts
Call options by funds: $8.62M | Put options by funds: $479K
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
3.89% more ownership
Funds ownership: 83.98% → 87.88% (+3.9%)
9% more repeat investments, than reductions
Existing positions increased: 59 | Existing positions reduced: 54
5% less funds holding
Funds holding: 171 → 162 (-9)
12% less first-time investments, than exits
New positions opened: 36 | Existing positions closed: 41
27% less capital invested
Capital invested by funds: $618M → $452M (-$166M)
Top Buyers
Top Sellers
| 1 |
DSCM
Divisadero Street Capital Management
Miami,
Florida
|
-$7.51M |
| 2 |
Millennium Management
New York
|
-$6.94M |
| 3 |
GIPM
G2 Investment Partners Management
New York
|
-$6.44M |
| 4 |
Victory Capital Management
San Antonio,
Texas
|
-$6.33M |
| 5 |
Marshall Wace
London,
United Kingdom
|
-$4.25M |
MAX Hedge Fund Activity: Q1 2026 in Review
162 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q1 2026, worth a combined $452M — down 27% from $618M a quarter earlier.
Sellers outnumbered buyers: 41 funds closed out of MAX and 36 opened new positions — a net loss of 5 holders — while 54 trimmed existing stakes and 59 added.
The largest buyer was Clearline Capital, adding an estimated $12.7M. The largest seller was Divisadero Street Capital Management, cutting an estimated $7.51M.
- 162 institutional investors held MediaAlpha (MAX) as of Q1 2026, down from 171 in Q4 2025.
- Funds reported $452M of MediaAlpha stock for Q1 2026, down 27% quarter-over-quarter.
- 36 funds opened new MediaAlpha positions in Q1 2026 and 41 closed out, a net change of -5 holders.
- The largest MediaAlpha buyer in Q1 2026 was Clearline Capital, an estimated $12.7M added.
- The largest MediaAlpha seller in Q1 2026 was Divisadero Street Capital Management, an estimated $7.51M sold.
Based on aggregated 13F filings for Q1 2026.