MediaAlpha
MAX
98 hedge funds and large institutions have $603M invested in MediaAlpha in 2023 Q1 according to their latest regulatory filings, with 16 funds opening new positions, 34 increasing their positions, 35 reducing their positions, and 19 closing their positions.
51% more capital invested
Capital invested by funds: $399M → $603M (+$204M)
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
3% less repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 35
1.58% less ownership
Funds ownership: 92.96% → 91.38% (-1.6%)
3% less funds holding
Funds holding: 101 → 98 (-3)
16% less first-time investments, than exits
New positions opened: 16 | Existing positions closed: 19
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DSCM
Divisadero Street Capital Management
Miami,
Florida
|
+$4.67M |
| 2 |
ACM
Ararat Capital Management
Westport,
Connecticut
|
+$2.48M |
| 3 |
GIPM
G2 Investment Partners Management
New York
|
+$1.56M |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$1.44M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$1.32M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PFMOSF
Philadelphia Financial Management of San Francisco
San Francisco,
California
|
-$5.32M |
| 2 |
NCM
Nantahala Capital Management
New Canaan,
Connecticut
|
-$2.65M |
| 3 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
-$2.61M |
| 4 |
MHP
Manatuck Hill Partners
Westport,
Connecticut
|
-$1.54M |
| 5 |
AllianceBernstein
Nashville,
Tennessee
|
-$1.15M |
MAX Hedge Fund Activity: Q1 2023 in Review
98 of the 6,283 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q1 2023, worth a combined $603M — up 51% from $399M a quarter earlier.
Sellers outnumbered buyers: 19 funds closed out of MAX and 16 opened new positions — a net loss of 3 holders — while 35 trimmed existing stakes and 34 added.
The largest buyer was Divisadero Street Capital Management, opening a new position worth an estimated $4.67M. The largest seller was Philadelphia Financial Management of San Francisco, exiting entirely with an estimated $5.32M sold.
- 98 institutional investors held MediaAlpha (MAX) as of Q1 2023, down from 101 in Q4 2022.
- Funds reported $603M of MediaAlpha stock for Q1 2023, up 51% quarter-over-quarter.
- 16 funds opened new MediaAlpha positions in Q1 2023 and 19 closed out, a net change of -3 holders.
- The largest MediaAlpha buyer in Q1 2023 was Divisadero Street Capital Management, an estimated $4.67M added.
- The largest MediaAlpha seller in Q1 2023 was Philadelphia Financial Management of San Francisco, an estimated $5.32M sold.
Based on aggregated 13F filings for Q1 2023.