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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
WMIG
1
White Mountains Insurance Group
New Hampshire
$167M – – –
Kayne Anderson Rudnick Investment Management
2
Kayne Anderson Rudnick Investment Management
California
$61.8M -$4.63M -379,330 -6%
BBCM
3
Broad Bay Capital Management
New York
$22.9M +$5.76M +472,000 +26%
ACM
4
Ararat Capital Management
Connecticut
$22.7M +$5.57M +456,384 +25%
Vanguard Group
5
Vanguard Group
Pennsylvania
$20.4M +$1.75M +143,665 +7%
NCM
6
Nantahala Capital Management
Connecticut
$16.2M +$14.7M +1,203,130 +275%
Norges Bank
7
Norges Bank
Norway
$15.8M – – –
BlackRock
8
BlackRock
New York
$14.6M +$1.23M +101,220 +7%
RCMNY
9
Rubric Capital Management (New York)
New York
$6.25M – – –
SAM
10
Silvercrest Asset Management
New York
$4.45M -$79.4K -6,511 -1%
JAM
11
Jacobs Asset Management
New York
$4.21M +$943K +77,344 +22%
State Street
12
State Street
Massachusetts
$4.09M -$3.26K -267 -0.1%
Geode Capital Management
13
Geode Capital Management
Massachusetts
$3.66M +$72.8K +5,966 +2%
Balyasny Asset Management
14
Balyasny Asset Management
Illinois
$3.12M +$365K +29,895 +10%
Wells Fargo
15
Wells Fargo
California
$2.87M -$489K -40,060 -12%
Wellington Management Group
16
Wellington Management Group
Massachusetts
$2.74M +$3.4M +278,549 New
Northern Trust
17
Northern Trust
Illinois
$2.12M +$206K +16,894 +9%
CC
18
Cannell & Co
New York
$1.66M -$629K -51,550 -23%
Charles Schwab
19
Charles Schwab
California
$1.48M -$46.9K -3,844 -2%
Point72 Asset Management
20
Point72 Asset Management
Connecticut
$1.43M +$1.44M +118,371 +450%
Daiwa Securities Group
21
Daiwa Securities Group
Japan
$1.35M -$171K -14,000 -9%
Citadel Advisors
22
Citadel Advisors
Florida
$902K +$365K +29,954 +49%
State of Wisconsin Investment Board
23
State of Wisconsin Investment Board
Wisconsin
$749K +$504K +41,326 +119%
Bank of New York Mellon
24
Bank of New York Mellon
New York
$659K -$5.82K -477 -0.7%
N
25
Nuveen
North Carolina
$632K +$915 +75 +0.1%
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.