Latest Period
Q4 2025
Security Snapshot
MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share (MAX) Institutional Ownership
CUSIP: 58450V104
13F Institutional Holders and Ownership History from Q4 2020 to Q1 2026
Institutions Reporting
171
Shares (Excl. Options)
47,771,765
Price
$12.95
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- Type / Class
- Equity / Class A Common Stock, par value $0.01 per share
- Symbol
- MAX on NYSE
- Shares outstanding
- 56,412,603
- Price per share
- $9.08
- All holders as of 31 Dec 2025
- Q4 2025
- Total 13F shares
- 47,771,765
- Total reported value
- $618,481,962
- % of total 13F portfolios
- 0%
- Share change
- -624,614
- Value change
- -$3,813,535
- Number of holders
- 171
- Price from insider filings
- $9.08
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors
Quick Takeaways
- MAX - MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share is tracked under CUSIP 58450V104.
- 171 institutions reported positions in Q4 2025.
- 4 significant owners is listed from Schedule 13D/13G reporting.
What Changed
- Holder count moved from 171 to 26 between Q4 2025 and Q1 2026.
- Reported value moved from $618,481,962 to $24,891,707.
Why This Matters
- You can quickly see who holds this security, then open quarter and manager detail pages for full evidence.
- 13F and Schedule 13D/13G sections are kept together so you can cross-check institutional and beneficial ownership context.
Source Evidence
Source: SEC Form 13F
Open SEC Evidence
Latest holder context comes from 171 institutions filings for Q4 2025.
Investment Quick Answers
What is CUSIP 58450V104?
CUSIP 58450V104 identifies MAX - MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share in SEC 13F datasets.
Where can I see the latest institutional holders?
Review the Q4 2025 holders report and the ownership history table below.
Next ownership checks
Use the next link that matches the question you still need to answer about this security.
- Latest 13F filings when you want to inspect fresh institutional portfolio moves.
- Latest Schedule 13D/13G reports when you need large-owner changes outside the 13F cycle.
- All institutional ownership pages to compare this security with other holder-history pages.
Recent Quarterly Holder Reports
Open recent reporting periods for CUSIP 58450V104:
Significant Owners of MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share (MAX) based on Schedule 13D/G filings
| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| WHITE MOUNTAINS INSURANCE GROUP LTD | 32% | $184,637,389 | 17,856,614 | White Mountains Insurance Group, Ltd. | 08 Aug 2025 | |||
| Nonko Eugene | 11% | $50,433,626 | 5,996,864 | Eugene Nonko | 26 Feb 2025 | |||
| VANGUARD GROUP INC | 4.6% | -13% | $29,595,067 | -$3,558,606 | 2,600,621 | -11% | The Vanguard Group | 30 Sep 2025 |
| BlackRock, Inc. | 4.2% | $19,603,550 | 2,330,981 | BlackRock, Inc. | 31 Mar 2025 |
As of 31 Dec 2025, 171 institutional investors reported holding 47,771,765 shares of MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share (MAX). This represents 85% of the company’s total 56,412,603 outstanding shares.
Top 25 Institutional Shareholders
The largest institutional shareholders of MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share (MAX) together control 72% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| WHITE MOUNTAINS INSURANCE GROUP LTD | 32% | 17,856,614 | 0% | 88% | $231,243,151 |
| BlackRock, Inc. | 6.3% | 3,551,465 | -0.61% | 0% | $45,991,471 |
| VANGUARD GROUP INC | 4.6% | 2,570,992 | -1.1% | 0% | $33,294,347 |
| JPMORGAN CHASE & CO | 2.4% | 1,367,896 | +29% | 0% | $17,714,253 |
| Clearline Capital LP | 2.3% | 1,301,453 | +0.82% | 1.3% | $16,853,816 |
| RENAISSANCE TECHNOLOGIES LLC | 1.9% | 1,045,400 | +11% | 0.02% | $13,537,930 |
| MORGAN STANLEY | 1.7% | 960,154 | +10% | 0% | $12,433,996 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 1.5% | 855,904 | +64% | 0.01% | $11,083,957 |
| Divisadero Street Capital Management, LP | 1.5% | 849,011 | +877% | 0.63% | $10,994,692 |
| AQR CAPITAL MANAGEMENT LLC | 1.4% | 804,095 | +4.3% | 0.01% | $10,413,030 |
| J. Goldman & Co LP | 1.4% | 786,369 | +48% | 0.4% | $10,183,479 |
| GEODE CAPITAL MANAGEMENT, LLC | 1.4% | 777,304 | +0.98% | 0% | $10,067,868 |
| MILLENNIUM MANAGEMENT LLC | 1.3% | 751,745 | -47% | 0.01% | $9,735,098 |
| STATE STREET CORP | 1.3% | 731,407 | +8.8% | 0% | $9,471,721 |
| VICTORY CAPITAL MANAGEMENT INC | 1.3% | 729,457 | +2.6% | 0.01% | $9,446,468 |
| GOLDMAN SACHS GROUP INC | 1.3% | 729,367 | -43% | 0% | $9,445,303 |
| JACOBS ASSET MANAGEMENT, LLC | 1.3% | 705,299 | -14% | 5.1% | $9,133,622 |
| JACOBS LEVY EQUITY MANAGEMENT, INC | 1.2% | 700,497 | +25% | 0.04% | $9,071,436 |
| Nuveen, LLC | 1.2% | 666,539 | -3.5% | 0% | $8,631,680 |
| ACADIAN ASSET MANAGEMENT LLC | 1.1% | 606,171 | +44% | 0.01% | $7,840,000 |
| Shay Capital LLC | 1% | 591,000 | -25% | 1.2% | $7,653,450 |
| G2 Investment Partners Management LLC | 0.88% | 496,916 | +32% | 1.5% | $6,435,062 |
| D. E. Shaw & Co., Inc. | 0.7% | 397,380 | -13% | 0% | $5,146,071 |
| JANE STREET GROUP, LLC | 0.64% | 360,129 | +104% | 0.01% | $4,663,671 |
| FRANKLIN RESOURCES INC | 0.58% | 328,712 | +3.4% | 0% | $4,256,820 |
Institutional Holders of MediaAlpha, Inc. - Class A Common Stock, par value $0.01 per share (MAX) across Reporting Periods
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2026 Q1 | 2,625,875 | $24,891,707 | +$11,931,479 | $9.30 | 26 |
| 2025 Q4 | 47,771,765 | $618,481,962 | -$3,813,535 | $12.95 | 171 |
| 2025 Q3 | 47,834,261 | $544,284,591 | -$5,576,109 | $11.38 | 155 |
| 2025 Q2 | 48,248,875 | $528,271,825 | +$14,118,305 | $10.95 | 150 |
| 2025 Q1 | 47,216,825 | $436,277,189 | -$13,260,709 | $9.24 | 144 |
| 2024 Q4 | 48,012,860 | $542,040,862 | -$30,038,335 | $11.29 | 160 |
| 2024 Q3 | 48,841,707 | $884,623,606 | -$13,101,139 | $18.11 | 149 |
| 2024 Q2 | 50,156,074 | $660,550,927 | +$73,061,027 | $13.17 | 148 |
| 2024 Q1 | 44,465,137 | $905,749,037 | +$50,675,474 | $20.37 | 121 |
| 2023 Q4 | 42,177,953 | $470,287,857 | +$11,065,270 | $11.15 | 91 |
| 2023 Q3 | 41,318,609 | $341,293,559 | -$30,498,529 | $8.26 | 88 |
| 2023 Q2 | 44,969,280 | $463,619,203 | +$44,418,589 | $10.31 | 93 |
| 2023 Q1 | 40,225,052 | $602,536,583 | +$6,187,743 | $14.98 | 97 |
| 2022 Q4 | 40,074,367 | $398,740,275 | -$6,863,804 | $9.95 | 99 |
| 2022 Q3 | 40,904,666 | $357,953,192 | +$8,359,779 | $8.75 | 85 |
| 2022 Q2 | 39,895,591 | $392,992,743 | -$19,477,199 | $9.85 | 86 |
| 2022 Q1 | 40,929,266 | $677,250,933 | +$17,737,970 | $16.55 | 92 |
| 2021 Q4 | 39,939,473 | $616,578,624 | +$24,793,185 | $15.44 | 90 |
| 2021 Q3 | 37,915,100 | $708,460,043 | -$44,874,431 | $18.68 | 84 |
| 2021 Q2 | 37,796,810 | $1,591,371,035 | +$61,978,526 | $42.10 | 98 |
| 2021 Q1 | 36,467,183 | $1,291,891,052 | +$143,997,399 | $35.43 | 96 |
| 2020 Q4 | 32,348,576 | $1,263,856,778 | +$460,451,778 | $39.07 | 65 |