MediaAlpha, Inc. (MAX) — Institutional Holders, Q2 2026

154 institutional investment managers reported a MAX position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $610.2M. Every filer is listed below, ranked by position value, 100 per page; this page shows ranks 1 to 100. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.

← MAX stock profile

MAX in Q2 2026: what funds did

Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.

New positions

Added to

Trimmed

Sold out

Biggest buyers

Divisadero Street Capital ManagementAdded · +933,081 sh+$11.7M
EVR ResearchNew · +440,000 sh+$5.5M
CITADEL ADVISORSAdded · +360,373 sh+$4.5M
JANE STREET GROUPAdded · +268,617 sh+$3.4M
TWO SIGMA INVESTMENTSAdded · +234,191 sh+$2.9M

Biggest sellers

J. GoldmanTrimmed · -584,603 sh-$7.3M
Triad Investment ManagementTrimmed · -576,242 sh-$7.2M
Philadelphia Financial Management of San FranciscoSold out · -480,000 sh-$6.0M
Qube Research & Technologies LtdTrimmed · -322,827 sh-$4.1M
FRANKLIN RESOURCESTrimmed · -269,122 sh-$3.4M

MAX 13F holders ranked 1–100 of 154

Institutional investors reporting a position in MediaAlpha, Inc. on SEC Form 13F-HR for Q2 2026, ranked by reported value.
#	Institution	Shares	Value	% of portfolio	QoQShares vs Q1 2026
1	WHITE MOUNTAINS INSURANCE GROUP LTD#1 · 17,856,614 sh	17,856,614	$224.5M	57.03%	0.0%
2	BlackRock#2 · 3,392,357 sh	3,392,357	$42.6M	<0.01%	-2.4%
3	Clearline Capital#3 · 2,713,890 sh	2,713,890	$34.1M	2.04%	+4.8%
4	JPMORGAN CHASE#4 · 1,880,062 sh	1,880,062	$23.3M	<0.01%	+7.7%
5	VANGUARD CAPITAL MANAGEMENT#5 · 1,276,369 sh	1,276,369	$16.0M	<0.01%	-7.9%
6	GEODE CAPITAL MANAGEMENT#6 · 1,068,308 sh	1,068,308	$13.4M	<0.01%	-0.2%
7	Divisadero Street Capital Management#7 · 1,019,988 sh	1,019,988	$12.8M	0.29%	+1073.7%
8	JACOBS LEVY EQUITY MANAGEMENT#8 · 971,232 sh	971,232	$12.2M	0.04%	+29.5%
9	ACADIAN ASSET MANAGEMENT#9 · 957,095 sh	957,095	$12.0M	0.01%	+13.0%
10	JACOBS ASSET MANAGEMENT#10 · 919,761 sh	919,761	$11.6M	7.27%	-0.5%
11	STATE STREET#11 · 862,235 sh	862,235	$10.8M	<0.01%	+2.9%
12	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP#12 · 829,958 sh	829,958	$10.4M	<0.01%	-21.8%
13	MORGAN STANLEY#13 · 821,170 sh	821,170	$10.3M	<0.01%	+16.8%
14	Nuveen#14 · 752,447 sh	752,447	$9.5M	<0.01%	+7.3%
15	DIMENSIONAL FUND ADVISORS#15 · 701,914 sh	701,914	$8.8M	<0.01%	+13.1%
16	J. Goldman#16 · 598,070 sh	598,070	$7.5M	0.19%	-49.4%
17	CITADEL ADVISORS#17 · 589,696 sh	589,696	$7.4M	<0.01%	+157.1%
18	RENAISSANCE TECHNOLOGIES#18 · 574,407 sh	574,407	$7.2M	<0.01%	-20.1%
19	Shay Capital#19 · 570,000 sh	570,000	$7.2M	0.46%	-26.5%
20	JANE STREET GROUP#20 · 551,625 sh	551,625	$6.9M	<0.01%	+94.9%
21	D. E. Shaw#21 · 535,926 sh	535,926	$6.7M	<0.01%	+56.7%
22	SPEECE THORSON CAPITAL GROUP#22 · 489,098 sh	489,098	$6.1M	1.31%	-2.0%
23	EVR Research#23 · 440,000 sh	440,000	$5.5M	2.73%	New
24	VANGUARD PORTFOLIO MANAGEMENT#24 · 433,046 sh	433,046	$5.4M	<0.01%	-20.8%
25	GOLDMAN SACHS GROUP#25 · 428,866 sh	428,866	$5.4M	<0.01%	-31.2%
26	TWO SIGMA INVESTMENTS#26 · 409,480 sh	409,480	$5.1M	<0.01%	+133.6%
27	AQR CAPITAL MANAGEMENT#27 · 391,641 sh	391,641	$4.9M	<0.01%	-18.7%
28	HRT FINANCIAL#28 · 372,929 sh	372,929	$4.7M	0.01%	+13.2%
29	BANK OF AMERICA#29 · 371,840 sh	371,840	$4.7M	<0.01%	+32.9%
30	Triad Investment Management#30 · 368,731 sh	368,731	$4.6M	—	-61.0%
31	Stoic Point Capital Management#31 · 297,150 sh	297,150	$3.7M	3.10%	+34.4%
32	NORTHERN#32 · 267,107 sh	267,107	$3.4M	<0.01%	-1.7%
33	CHARLES SCHWAB INVESTMENT MANAGEMENT#33 · 259,224 sh	259,224	$3.3M	<0.01%	-5.5%
34	Squarepoint Ops#34 · 234,255 sh	234,255	$2.9M	<0.01%	+8.7%
35	VANGUARD FIDUCIARY#35 · 223,917 sh	223,917	$2.8M	<0.01%	-1.4%
36	TEACHER RETIREMENT SYSTEM OF TEXAS#36 · 216,405 sh	216,405	$2.7M	<0.01%	+16.8%
37	BNP PARIBAS FINANCIAL MARKETS#37 · 209,204 sh	209,204	$2.6M	<0.01%	+272.2%
38	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AME#38 · 180,171 sh	180,171	$2.3M	<0.01%	-0.2%
39	XTX Topco Ltd#39 · 172,269 sh	172,269	$2.2M	0.03%	+17.3%
40	ALGERT GLOBAL#40 · 170,870 sh	170,870	$2.1M	0.03%	+102.2%
41	Man Group plc#41 · 156,754 sh	156,754	$2.0M	<0.01%	+14.7%
42	ALLIANCEBERNSTEIN L.P.#42 · 211,450 sh	211,450	$2.0M	<0.01%	+2.9%
43	PRINCIPAL FINANCIAL GROUP#43 · 148,845 sh	148,845	$1.9M	<0.01%	+8.2%
44	Quantinno Capital Management#44 · 136,034 sh	136,034	$1.7M	<0.01%	+26.8%
45	Russell Investments Group, Ltd.#45 · 130,360 sh	130,360	$1.6M	<0.01%	+53.6%
46	STIFEL FINANCIAL#46 · 126,175 sh	126,175	$1.6M	<0.01%	New
47	VICTORY CAPITAL MANAGEMENT#47 · 101,365 sh	101,365	$1.3M	<0.01%	+16.2%
48	BALYASNY ASSET MANAGEMENT L.P.#48 · 101,046 sh	101,046	$1.3M	<0.01%	-7.1%
49	Qube Research & Technologies Ltd#49 · 92,453 sh	92,453	$1.2M	<0.01%	-77.7%
50	PDT Partners#50 · 84,022 sh	84,022	$1.1M	0.06%	-6.7%
51	Bank of New York Mellon#51 · 81,504 sh	81,504	$1.0M	<0.01%	-6.3%
52	Walleye Capital#52 · 80,306 sh	80,306	$1.0M	<0.01%	New
53	FRANKLIN RESOURCES#53 · 74,587 sh	74,587	$937.6K	<0.01%	-78.3%
54	Amundi#54 · 70,311 sh	70,311	$883.8K	<0.01%	-10.0%
55	STATE OF WISCONSIN INVESTMENT BOARD#55 · 70,309 sh	70,309	$883.8K	<0.01%	-33.8%
56	WINMILL#56 · 65,102 sh	65,102	$818.3K	0.18%	New
57	Swiss National Bank#57 · 60,800 sh	60,800	$764.3K	<0.01%	+3.6%
58	BLAIR WILLIAM#58 · 56,046 sh	56,046	$704.5K	<0.01%	+0.1%
59	GLOBEFLEX CAPITAL L P#59 · 55,850 sh	55,850	$702.0K	0.09%	-30.4%
60	Allianz Asset Management GmbH#60 · 70,176 sh	70,176	$652.6K	<0.01%	0.0%
61	Campbell & Investment Adviser#61 · 46,617 sh	46,617	$586.0K	0.03%	+189.8%
62	RHUMBLINE ADVISERS#62 · 45,932 sh	45,932	$577.4K	<0.01%	-4.1%
63	Hillsdale Investment Management#63 · 45,900 sh	45,900	$577.0K	0.01%	New
64	Allspring Global Investments#64 · 44,831 sh	44,831	$563.5K	<0.01%	-6.4%
65	SEI INVESTMENTS#65 · 44,637 sh	44,637	$561.1K	<0.01%	+24.9%
66	Mariner#66 · 41,127 sh	41,127	$517.0K	<0.01%	-29.7%
67	Caption Management#67 · 37,515 sh	37,515	$471.6K	<0.01%	-74.8%
68	PRICE T ROWE ASSOCIATES#68 · 37,076 sh	37,076	$467.0K	0.00%	0.0%
69	MILLENNIUM MANAGEMENT#69 · 37,065 sh	37,065	$465.9K	<0.01%	-21.2%
70	DEUTSCHE BANK AG\#70 · 34,254 sh	34,254	$430.6K	<0.01%	-2.4%
71	Lighthouse Investment Partners#71 · 34,001 sh	34,001	$427.4K	0.01%	New
72	UBS Group AG#72 · 33,602 sh	33,602	$422.4K	<0.01%	-78.2%
73	BARCLAYS PLC#73 · 30,349 sh	30,349	$381.5K	<0.01%	-33.1%
74	WELLS FARGO & COMPANY#74 · 28,163 sh	28,163	$354.0K	<0.01%	+128.5%
75	Legal & General Group Plc#75 · 27,533 sh	27,533	$346.1K	<0.01%	0.0%
76	Brevan Howard Capital Management#76 · 27,117 sh	27,117	$340.9K	<0.01%	New
77	Dynamic Technology Lab Private Ltd#77 · 26,868 sh	26,868	$338.0K	0.08%	-38.4%
78	FMR#78 · 26,386 sh	26,386	$331.7K	0.00%	-2.9%
79	Invesco Ltd.#79 · 26,039 sh	26,039	$327.3K	0.00%	+10.2%
80	State of Alaska, Department of Revenue#80 · 25,862 sh	25,862	$324.0K	—	+1288.9%
81	TUDOR INVESTMENT ET AL#81 · 25,748 sh	25,748	$323.7K	<0.01%	New
82	ALLSTATE#82 · 25,287 sh	25,287	$317.9K	<0.01%	New
83	AXQ CAPITAL#83 · 25,117 sh	25,117	$315.7K	0.03%	New
84	Abel Hall#84 · 24,473 sh	24,473	$307.6K	—	-3.7%
85	CITIGROUP#85 · 24,003 sh	24,003	$301.7K	<0.01%	+140.6%
86	Corient Private Wealth#86 · 23,451 sh	23,451	$294.8K	<0.01%	+50.7%
87	SUSQUEHANNA INTERNATIONAL GROUP, LLP#87 · 23,247 sh	23,247	$292.2K	0.00%	-87.7%
88	Quantbot Technologies#88 · 21,568 sh	21,568	$271.1K	0.01%	-25.9%
89	MetLife Investment Management#89 · 21,402 sh	21,402	$269.0K	<0.01%	0.0%
90	JUPITER ASSET MANAGEMENT LTD#90 · 21,172 sh	21,172	$266.1K	<0.01%	0.0%
91	Zurcher Kantonalbank (Zurich Cantonalbank)#91 · 18,642 sh	18,642	$234.3K	<0.01%	0.0%
92	VANGUARD ASSET MANAGEMENT, Ltd#92 · 17,425 sh	17,425	$219.0K	<0.01%	0.0%
93	Graham Capital Management, L.P.#93 · 17,179 sh	17,179	$215.9K	<0.01%	+18.1%
94	MERCER GLOBAL ADVISORS#94 · 16,595 sh	16,595	$208.6K	<0.01%	+2.7%
95	Creative Planning#95 · 16,220 sh	16,220	$203.9K	<0.01%	-18.7%
96	NOMURA#96 · 16,058 sh	16,058	$201.8K	<0.01%	New
97	WEALTH ENHANCEMENT ADVISORY SERVICES#97 · 14,811 sh	14,811	$198.0K	—	-29.2%
98	IEQ CAPITAL#98 · 15,367 sh	15,367	$193.2K	<0.01%	-53.3%
99	EP Wealth Advisors#99 · 15,273 sh	15,273	$192.0K	<0.01%	New
100	MIRAE ASSET GLOBAL ETFS Ltd.#100 · 14,208 sh	14,208	$178.6K	<0.01%	-11.9%

Funds that sold out of MAX in Q2 2026 (27)

Held MAX at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.

Institutions that held MAX in Q1 2026 and reported no position in Q2 2026.
Institution	Shares sold	Value in Q1 2026
Philadelphia Financial Management of San Francisco480,000 sh	480,000	$4.5M
Y-Intercept (Hong Kong) Ltd158,170 sh	158,170	$1.5M
GSA CAPITAL PARTNERS LLP109,268 sh	109,268	$1.0M
State of Wyoming43,001 sh	43,001	$399.9K
Bridgefront Capital26,170 sh	26,170	$243.4K
Spears Abacus Advisors25,400 sh	25,400	$236.2K
LOS ANGELES CAPITAL MANAGEMENT23,740 sh	23,740	$220.8K
State of Tennessee, Treasury Department20,728 sh	20,728	$192.8K
SG Americas Securities19,473 sh	19,473	$181.0K
Cornerstone Investment Partners19,008 sh	19,008	$176.8K
AMERIPRISE FINANCIAL17,807 sh	17,807	$165.6K
EVENTIDE ASSET MANAGEMENT17,509 sh	17,509	$165.3K
nVerses Capital15,790 sh	15,790	$146.8K
Schonfeld Strategic Advisors13,917 sh	13,917	$129.4K
Mach-1 Financial Group11,957 sh	11,957	$111.2K
VIRGINIA RETIREMENT SYSTEMS ET Al11,200 sh	11,200	$104.2K
Aaron Wealth Advisors10,242 sh	10,242	$95.3K
LEUCADIA NATIONAL10,000 sh	10,000	$93.0K
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO9,100 sh	9,100	$84.6K
SIMPLEX TRADING6,846 sh	6,846	$63.7K
Private Wealth Asset Management1,000 sh	1,000	$9.3K
SUMMIT SECURITIES GROUP557 sh	557	$5.2K
Root Financial Partners139 sh	139	$1.3K
Wealth Preservation Advisors66 sh	66	$614.00
JONES FINANCIAL COMPANIES LLLP57 sh	57	$517.00
Investors Portfolio Services61 sh	61	$515.00
MAI Capital Management25 sh	25	$233.00

Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.