MAX MediaAlpha, Inc.
MediaAlpha, Inc. (MAX) Institutional Ownership
What the institutions did with MAX last quarter, from their 13F filings. Counting managers rather than shares is the point: a single index fund adding to a position tells you far less than four hundred separate managers all deciding to. Positions as reported for the quarter ended June 30, 2026.
Every manager below opens. Subscribers can see any firm's whole portfolio — every position, its weight, and what they bought, trimmed and exited last quarter.
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Each block is one manager, sized by shares held and colored by how much they moved the position last quarter. Green added, red cut, grey stood pat.
Largest holders
| Manager | Shares | % of reported |
|---|---|---|
| WHITE MOUNTAINS INSURANCE GROUP LTD | 17.9M | 36.7% |
| BlackRock, Inc. | 3.4M | 7.0% |
| Clearline Capital LP | 2.7M | 5.6% |
| JPMORGAN CHASE & CO | 1.9M | 3.9% |
| VANGUARD CAPITAL MANAGEMENT LLC | 1.3M | 2.6% |
| GEODE CAPITAL MANAGEMENT, LLC | 1.1M | 2.2% |
| Divisadero Street Capital Management, LP | 1.0M | 2.1% |
| JACOBS LEVY EQUITY MANAGEMENT, INC | 971.2K | 2.0% |
| ACADIAN ASSET MANAGEMENT LLC | 957.1K | 2.0% |
| JACOBS ASSET MANAGEMENT, LLC | 919.8K | 1.9% |
| STATE STREET CORP | 862.2K | 1.8% |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 830.0K | 1.7% |
| MORGAN STANLEY | 821.2K | 1.7% |
| Nuveen, LLC | 752.4K | 1.5% |
| DIMENSIONAL FUND ADVISORS LP | 701.9K | 1.4% |
| J. Goldman & Co LP | 598.1K | 1.2% |
| CITADEL ADVISORS LLC | 589.7K | 1.2% |
| RENAISSANCE TECHNOLOGIES LLC | 574.4K | 1.2% |
| Shay Capital LLC | 570.0K | 1.2% |
| JANE STREET GROUP, LLC | 551.6K | 1.1% |
| D. E. Shaw & Co., Inc. | 535.9K | 1.1% |
| SPEECE THORSON CAPITAL GROUP INC | 489.1K | 1.0% |
| EVR Research LP | 440.0K | 0.9% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 433.0K | 0.9% |
| GOLDMAN SACHS GROUP INC | 428.9K | 0.9% |
Largest changes
| Manager | Action | Previous | Current | Change |
|---|---|---|---|---|
| Divisadero Street Capital Management, LP | Increased | 86.9K | 1.0M | +933.1K |
| J. Goldman & Co LP | Reduced | 1.2M | 598.1K | -584.6K |
| Philadelphia Financial Management of San Francisco, LLC | Sold Out | 480.0K | 0 | -480.0K |
| EVR Research LP | New | 0 | 440.0K | +440.0K |
| CITADEL ADVISORS LLC | Increased | 229.3K | 589.7K | +360.4K |
| Qube Research & Technologies Ltd | Reduced | 415.3K | 92.5K | -322.8K |
| FRANKLIN RESOURCES INC | Reduced | 343.7K | 74.6K | -269.1K |
| JANE STREET GROUP, LLC | Increased | 283.0K | 551.6K | +268.6K |
| Pacer Advisors, Inc. | Sold Out | 258.3K | 0 | -258.3K |
| TWO SIGMA INVESTMENTS, LP | Increased | 175.3K | 409.5K | +234.2K |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | 1.1M | 830.0K | -232.0K |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Increased | 750.1K | 971.2K | +221.2K |
| Shay Capital LLC | Reduced | 775.0K | 570.0K | -205.0K |
| GOLDMAN SACHS GROUP INC | Reduced | 623.4K | 428.9K | -194.6K |
| D. E. Shaw & Co., Inc. | Increased | 342.1K | 535.9K | +193.9K |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | 189.7K | 23.2K | -166.5K |
| Y-Intercept (Hong Kong) Ltd | Sold Out | 158.2K | 0 | -158.2K |
| BNP PARIBAS FINANCIAL MARKETS | Increased | 56.2K | 209.2K | +153.0K |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | 719.3K | 574.4K | -144.9K |
| JPMORGAN CHASE & CO | Increased | 1.7M | 1.9M | +134.4K |
| STIFEL FINANCIAL CORP | New | 0 | 126.2K | +126.2K |
| Clearline Capital LP | Increased | 2.6M | 2.7M | +123.2K |
| UBS Group AG | Reduced | 153.9K | 33.6K | -120.3K |
| MORGAN STANLEY | Increased | 703.0K | 821.2K | +118.2K |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Reduced | 546.7K | 433.0K | -113.7K |
| Caption Management, LLC | Reduced | 149.0K | 37.5K | -111.5K |
| ACADIAN ASSET MANAGEMENT LLC | Increased | 847.2K | 957.1K | +109.9K |
| VANGUARD CAPITAL MANAGEMENT LLC | Reduced | 1.4M | 1.3M | -109.4K |
| GSA CAPITAL PARTNERS LLP | Sold Out | 109.3K | 0 | -109.3K |
| BANK OF AMERICA CORP /DE/ | Increased | 279.7K | 371.8K | +92.1K |
| AQR CAPITAL MANAGEMENT LLC | Reduced | 482.0K | 391.6K | -90.3K |
| ALGERT GLOBAL LLC | Increased | 84.5K | 170.9K | +86.4K |
| BlackRock, Inc. | Reduced | 3.5M | 3.4M | -84.3K |
| DIMENSIONAL FUND ADVISORS LP | Increased | 620.7K | 701.9K | +81.2K |
| Walleye Capital LLC | New | 0 | 80.3K | +80.3K |
| Stoic Point Capital Management LLC | Increased | 221.0K | 297.2K | +76.1K |
| WINMILL & CO. INC | New | 0 | 65.1K | +65.1K |
| Nuveen, LLC | Increased | 701.4K | 752.4K | +51.0K |
| Hillsdale Investment Management Inc. | New | 0 | 45.9K | +45.9K |
| Russell Investments Group, Ltd. | Increased | 84.9K | 130.4K | +45.5K |
| HRT FINANCIAL LP | Increased | 329.3K | 372.9K | +43.6K |
| State of Wyoming | Sold Out | 43.0K | 0 | -43.0K |
| STATE OF WISCONSIN INVESTMENT BOARD | Reduced | 106.2K | 70.3K | -35.9K |
| Triad Investment Management | Increased | 333.9K | 368.7K | +34.9K |
| Lighthouse Investment Partners, LLC | New | 0 | 34.0K | +34.0K |
| TEACHER RETIREMENT SYSTEM OF TEXAS | Increased | 185.3K | 216.4K | +31.1K |
| Campbell & CO Investment Adviser LLC | Increased | 16.1K | 46.6K | +30.5K |
| Quantinno Capital Management LP | Increased | 107.3K | 136.0K | +28.8K |
| Brevan Howard Capital Management LP | New | 0 | 27.1K | +27.1K |
| Bridgefront Capital, LLC | Sold Out | 26.2K | 0 | -26.2K |
| TUDOR INVESTMENT CORP ET AL | New | 0 | 25.7K | +25.7K |
| FOX RUN MANAGEMENT, L.L.C. | Reduced | 37.0K | 11.3K | -25.6K |
| Vanguard Global Advisers, LLC | Reduced | 37.7K | 12.3K | -25.4K |
| XTX Topco Ltd | Increased | 146.8K | 172.3K | +25.4K |
| Cannell & Spears LLC | Sold Out | 25.4K | 0 | -25.4K |
| ALLSTATE CORP | New | 0 | 25.3K | +25.3K |
| AXQ CAPITAL, LP | New | 0 | 25.1K | +25.1K |
| GLOBEFLEX CAPITAL L P | Reduced | 80.2K | 55.9K | -24.4K |
| STATE STREET CORP | Increased | 838.2K | 862.2K | +24.1K |
| State of Alaska, Department of Revenue | Increased | 1.9K | 25.9K | +24.0K |
13F filings are due 45 days after quarter end and cover long positions in U.S.-listed equities only, so this is a lagged and partial picture: shorts, bonds and foreign listings never appear. Options positions are excluded here rather than folded into the share counts. Political ownership is coming.