MediaAlpha
MAX
148 hedge funds and large institutions have $661M invested in MediaAlpha in 2024 Q2 according to their latest regulatory filings, with 48 funds opening new positions, 63 increasing their positions, 28 reducing their positions, and 20 closing their positions.
140% more first-time investments, than exits
New positions opened: 48 | Existing positions closed: 20
125% more repeat investments, than reductions
Existing positions increased: 63 | Existing positions reduced: 28
21% more funds holding
Funds holding: 122 → 148 (+26)
4.1% more ownership
Funds ownership: 93.14% → 97.24% (+4.1%)
27% less capital invested
Capital invested by funds: $906M → $661M (-$245M)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
41% less call options, than puts
Call options by funds: $2.02M | Put options by funds: $3.42M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
+$17.9M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
+$17.7M |
| 3 |
BlackRock
New York
|
+$13.7M |
| 4 |
PFMOSF
Philadelphia Financial Management of San Francisco
San Francisco,
California
|
+$13.4M |
| 5 |
DSCM
Divisadero Street Capital Management
Miami,
Florida
|
+$11.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WMIG
White Mountains Insurance Group
Hanover,
New Hampshire
|
-$92M |
| 2 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
-$7.56M |
| 3 |
JGC
J. Goldman & Co
New York
|
-$6.35M |
| 4 |
Invesco
Atlanta,
Georgia
|
-$4.11M |
| 5 |
SSA
Schonfeld Strategic Advisors
New York
|
-$3.2M |
MAX Hedge Fund Activity: Q2 2024 in Review
148 of the 6,924 institutional investors tracked by Wall St. Rank reported a position in MediaAlpha (MAX) for Q2 2024, worth a combined $661M — down 27% from $906M a quarter earlier.
Buyers outnumbered sellers: 48 funds opened new MAX positions and 20 closed out — a net gain of 28 holders — while 63 added to existing stakes and 28 trimmed.
The largest buyer was Driehaus Capital Management, adding an estimated $17.9M. The largest seller was White Mountains Insurance Group, cutting an estimated $92M.
- 148 institutional investors held MediaAlpha (MAX) as of Q2 2024, up from 122 in Q1 2024.
- Funds reported $661M of MediaAlpha stock for Q2 2024, down 27% quarter-over-quarter.
- 48 funds opened new MediaAlpha positions in Q2 2024 and 20 closed out, a net change of +28 holders.
- The largest MediaAlpha buyer in Q2 2024 was Driehaus Capital Management, an estimated $17.9M added.
- The largest MediaAlpha seller in Q2 2024 was White Mountains Insurance Group, an estimated $92M sold.
Based on aggregated 13F filings for Q2 2024.