Institutional HoldersBeta

Who holds a company, from every 13F filed for the quarter, one row per filer exactly as filed, against the latest share count the company reported.

MediaAlpha, Inc.

CIK 0001818383MAX· quarter ending 2026-06-30

Shares outstanding

61,263,978

as of 2026-07-24 · 10-Q cover page, filed 2026-07-29

Held by 13F filers

48,665,920

91.9% of Common Class A

Holders

153

-10 vs 2026-03-31 · 21 new, 31 exited

Value

$610.7M

shares +0.4% vs prior quarter

Share classes (cover page of the 10-Q filed 2026-07-29, as of 2026-07-24)

Class	Listed	Shares outstanding	Held by 13F filers	% of class	Holders	CUSIP
Common Class A	MAX · NYSE	52,975,711	48,665,920	91.9%	153	58450V104
Common Class B	not listed	8,288,267	—	—

Each class is compared with its own share count; classes are not added together. A class that is not exchange-listed cannot be held by 13F filers.

Securities (CUSIPs held in 13F this quarter)

tick to combine

Count	CUSIP	Class (as filers write it)	Holders	Shares held	Class shares	% of class	Value	Options	Mapped via
	58450V104	CL A	153	48,665,920	52,975,711	91.9%	$610.7M	5 call / 0 put	13DG	holders →

Totals combine the ticked CUSIPs and update as you tick: common-stock classes by default; preferreds, notes, warrants and depositary shares are listed but not counted. "holders →" shows a single CUSIP on its own. Bonds are held as a principal amount, not shares. Options positions are never counted as holdings.

Top holders (153 of 153 · 58450V104)

change vs 2026-03-31

#	Filer	Shares	% of class	Value	Change
1	WHITE MOUNTAINS INSURANCE GROUP LTD	17,856,614	33.71%	$224.5M	—
2	BlackRock, Inc.	3,392,357	6.40%	$42.6M	-84,330 (-2.4%)
3	Clearline Capital LP	2,713,890	5.12%	$34.1M	+123,220 (+4.8%)
4	JPMORGAN CHASE & CO	1,880,062	3.55%	$23.3M	+134,383 (+7.7%)
5	VANGUARD CAPITAL MANAGEMENT LLC	1,276,369	2.41%	$16.0M	-109,360 (-7.9%)
6	GEODE CAPITAL MANAGEMENT, LLC	1,068,308	2.02%	$13.4M	-1,776 (-0.2%)
7	Divisadero Street Capital Management, LP	1,019,988	1.93%	$12.8M	+933,081 (+1073.7%)
8	JACOBS LEVY EQUITY MANAGEMENT, INC	971,232	1.83%	$12.2M	+221,178 (+29.5%)
9	ACADIAN ASSET MANAGEMENT LLC	957,095	1.81%	$12.0M	+109,896 (+13.0%)
10	JACOBS ASSET MANAGEMENT, LLC	919,761	1.74%	$11.6M	-4,682 (-0.5%)
11	STATE STREET CORP	862,235	1.63%	$10.8M	+24,074 (+2.9%)
12	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	829,958	1.57%	$10.4M	-232,023 (-21.8%)
13	MORGAN STANLEY	821,170	1.55%	$10.3M	+118,152 (+16.8%)
14	Nuveen, LLC	752,447	1.42%	$9.5M	+51,048 (+7.3%)
15	DIMENSIONAL FUND ADVISORS LP	701,914	1.32%	$8.8M	+81,245 (+13.1%)
16	J. Goldman & Co LP	598,070	1.13%	$7.5M	-584,603 (-49.4%)
17	CITADEL ADVISORS LLC	589,696	1.11%	$7.4M	+360,373 (+157.1%)
18	RENAISSANCE TECHNOLOGIES LLC	574,407	1.08%	$7.2M	-144,893 (-20.1%)
19	Shay Capital LLC	570,000	1.08%	$7.2M	-205,000 (-26.5%)
20	JANE STREET GROUP, LLC	551,625	1.04%	$6.9M	+268,617 (+94.9%)
21	D. E. Shaw & Co., Inc.	535,926	1.01%	$6.7M	+193,868 (+56.7%)
22	SPEECE THORSON CAPITAL GROUP INC	489,098	0.92%	$6.1M	-9,913 (-2.0%)
23	EVR Research LP	440,000	0.83%	$5.5M	NEW
24	VANGUARD PORTFOLIO MANAGEMENT LLC	433,046	0.82%	$5.4M	-113,699 (-20.8%)
25	GOLDMAN SACHS GROUP INC	428,866	0.81%	$5.4M	-194,555 (-31.2%)
26	TWO SIGMA INVESTMENTS, LP	409,480	0.77%	$5.1M	+234,191 (+133.6%)
27	AQR CAPITAL MANAGEMENT LLC	391,641	0.74%	$4.9M	-90,310 (-18.7%)
28	HRT FINANCIAL LP	372,929	0.70%	$4.7M	+43,597 (+13.2%)
29	BANK OF AMERICA CORP /DE/	371,840	0.70%	$4.7M	+92,136 (+32.9%)
30	Triad Investment Management	368,731	0.70%	$4.6M	+34,867 (+10.4%)
31	Stoic Point Capital Management LLC	297,150	0.56%	$3.7M	+76,109 (+34.4%)
32	NORTHERN TRUST CORP	267,107	0.50%	$3.4M	-4,717 (-1.7%)
33	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	259,224	0.49%	$3.3M	-15,115 (-5.5%)
34	Squarepoint Ops LLC	234,255	0.44%	$2.9M	+18,714 (+8.7%)
35	VANGUARD FIDUCIARY TRUST CO	223,917	0.42%	$2.8M	-3,195 (-1.4%)
36	TEACHER RETIREMENT SYSTEM OF TEXAS	216,405	0.41%	$2.7M	+31,080 (+16.8%)
37	ALLIANCEBERNSTEIN L.P.	211,450	0.40%	$2.0M	+6,010 (+2.9%)
38	BNP PARIBAS FINANCIAL MARKETS	209,204	0.39%	$2.6M	+152,998 (+272.2%)
39	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	180,171	0.34%	$2.3M	-340 (-0.2%)
40	XTX Topco Ltd	172,269	0.33%	$2.2M	+25,431 (+17.3%)
41	ALGERT GLOBAL LLC	170,870	0.32%	$2.1M	+86,360 (+102.2%)
42	Man Group plc	156,754	0.30%	$2.0M	+20,047 (+14.7%)
43	PRINCIPAL FINANCIAL GROUP INC	148,845	0.28%	$1.9M	+11,232 (+8.2%)
44	Quantinno Capital Management LP	136,034	0.26%	$1.7M	+28,760 (+26.8%)
45	Russell Investments Group, Ltd.	130,360	0.25%	$1.6M	+45,466 (+53.6%)
46	STIFEL FINANCIAL CORP	126,175	0.24%	$1.6M	NEW
47	VICTORY CAPITAL MANAGEMENT INC	101,365	0.19%	$1.3M	+14,096 (+16.2%)
48	Balyasny Asset Management L.P.	101,046	0.19%	$1.3M	-7,762 (-7.1%)
49	Qube Research & Technologies Ltd	92,453	0.17%	$1.2M	-322,827 (-77.7%)
50	PDT Partners, LLC	84,022	0.16%	$1.1M	-6,000 (-6.7%)
51	Bank of New York Mellon Corp	81,504	0.15%	$1.0M	-5,451 (-6.3%)
52	Walleye Capital LLC	80,306	0.15%	$1.0M	NEW
53	FRANKLIN RESOURCES INC	74,587	0.14%	$938K	-269,122 (-78.3%)
54	Amundi	70,311	0.13%	$884K	-7,793 (-10.0%)
55	STATE OF WISCONSIN INVESTMENT BOARD	70,309	0.13%	$884K	-35,851 (-33.8%)
56	Allianz Asset Management GmbH	70,176	0.13%	$882K	—
57	WINMILL & CO. INC	65,102	0.12%	$818K	NEW
58	Swiss National Bank	60,800	0.11%	$764K	+2,100 (+3.6%)
59	BLAIR WILLIAM & CO/IL	56,046	0.11%	$704K	+71 (+0.1%)
60	GLOBEFLEX CAPITAL L P	55,850	0.11%	$702K	-24,383 (-30.4%)
61	Campbell & CO Investment Adviser LLC	46,617	0.09%	$586K	+30,532 (+189.8%)
62	RHUMBLINE ADVISERS	45,932	0.09%	$577K	-1,952 (-4.1%)
63	Hillsdale Investment Management Inc.	45,900	0.09%	$577K	NEW
64	Allspring Global Investments Holdings, LLC	44,831	0.08%	$564K	-3,054 (-6.4%)
65	SEI INVESTMENTS CO	44,637	0.08%	$561K	+8,899 (+24.9%)
66	Mariner, LLC	41,127	0.08%	$517K	-17,362 (-29.7%)
67	Caption Management, LLC	37,515	0.07%	$472K	-111,533 (-74.8%)
68	PRICE T ROWE ASSOCIATES INC /MD/	37,076	0.07%	$467K	—
69	MILLENNIUM MANAGEMENT LLC	37,065	0.07%	$466K	-9,976 (-21.2%)
70	DEUTSCHE BANK AG\	34,254	0.06%	$431K	-834 (-2.4%)
71	Lighthouse Investment Partners, LLC	34,001	0.06%	$427K	NEW
72	UBS Group AG	33,602	0.06%	$422K	-120,281 (-78.2%)
73	BARCLAYS PLC	30,349	0.06%	$381K	-15,015 (-33.1%)
74	WELLS FARGO & COMPANY/MN	28,163	0.05%	$354K	+15,838 (+128.5%)
75	Legal & General Group Plc	27,533	0.05%	$346K	—
76	Brevan Howard Capital Management LP	27,117	0.05%	$341K	NEW
77	Dynamic Technology Lab Private Ltd	26,868	0.05%	$338K	-16,727 (-38.4%)
78	FMR LLC	26,386	0.05%	$332K	-788 (-2.9%)
79	Invesco Ltd.	26,039	0.05%	$327K	+2,412 (+10.2%)
80	State of Alaska, Department of Revenue	25,862	0.05%	$324K	+24,000 (+1288.9%)
81	TUDOR INVESTMENT CORP ET AL	25,748	0.05%	$324K	NEW
82	ALLSTATE CORP	25,287	0.05%	$318K	NEW
83	AXQ CAPITAL, LP	25,117	0.05%	$316K	NEW
84	Abel Hall, LLC	24,473	0.05%	$308K	-951 (-3.7%)
85	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	24,141	0.05%	$303K	-1,111 (-4.4%)
86	CITIGROUP INC	24,003	0.05%	$302K	+14,025 (+140.6%)
87	Corient Private Wealth LP	23,451	0.04%	$295K	+7,892 (+50.7%)
88	SUSQUEHANNA INTERNATIONAL GROUP, LLP	23,247	0.04%	$292K	-166,489 (-87.7%)
89	Quantbot Technologies LP	21,568	0.04%	$271K	-7,551 (-25.9%)
90	MetLife Investment Management, LLC	21,402	0.04%	$269K	—
91	JUPITER ASSET MANAGEMENT LTD	21,172	0.04%	$266K	—
92	Zurcher Kantonalbank (Zurich Cantonalbank)	18,642	0.04%	$234K	—
93	VANGUARD ASSET MANAGEMENT, Ltd	17,425	0.03%	$219K	—
94	Graham Capital Management, L.P.	17,179	0.03%	$216K	+2,636 (+18.1%)
95	MERCER GLOBAL ADVISORS INC /ADV	16,595	0.03%	$209K	+440 (+2.7%)
96	Creative Planning	16,220	0.03%	$204K	-3,726 (-18.7%)
97	NOMURA HOLDINGS INC	16,058	0.03%	$202K	NEW
98	IEQ CAPITAL, LLC	15,367	0.03%	$193K	-17,554 (-53.3%)
99	EP Wealth Advisors, LLC	15,273	0.03%	$192K	NEW
100	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	14,811	0.03%	$198K	-6,105 (-29.2%)
101	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	14,208	0.03%	$179K	-1,924 (-11.9%)
102	Jupiter Topco LLC	13,862	0.03%	$174K	NEW
103	Cerity Partners LLC	13,617	0.03%	$171K	-1,416 (-9.4%)
104	LPL Financial LLC	13,300	0.03%	$167K	NEW
105	Vanguard Global Advisers, LLC	12,254	0.02%	$154K	-25,434 (-67.5%)
106	GLENMEDE TRUST CO NA	12,218	0.02%	$154K	-932 (-7.1%)
107	MACKENZIE FINANCIAL CORP	12,137	0.02%	$153K	-2,156 (-15.1%)
108	FOX RUN MANAGEMENT, L.L.C.	11,327	0.02%	$142K	-25,628 (-69.3%)
109	PRUDENTIAL FINANCIAL INC	11,145	0.02%	$140K	NEW
110	Cresset Asset Management, LLC	11,123	0.02%	$140K	-272 (-2.4%)
111	Arax Advisory Partners	10,534	0.02%	$132K	+9,362 (+798.8%)
112	BANK OF MONTREAL /CAN/	10,494	0.02%	$132K	—
113	Police & Firemen's Retirement System of New Jersey	9,690	0.02%	$122K	—
114	Vanguard Investments Australia, Ltd.	7,013	0.01%	$88K	—
115	NEW YORK STATE COMMON RETIREMENT FUND	6,264	0.01%	$79K	—
116	KLP KAPITALFORVALTNING AS	5,933	0.01%	$75K	—
117	Covestor Ltd	4,777	0.01%	$60K	+1,324 (+38.3%)
118	ELKHORN PARTNERS LIMITED PARTNERSHIP	4,500	0.01%	$57K	-18,500 (-80.4%)
119	NEW YORK STATE TEACHERS RETIREMENT SYSTEM	3,128	0.01%	$39K	+3,028 (+3028.0%)
120	Ameritas Investment Partners, Inc.	3,026	0.01%	$38K	—
121	Tower Research Capital LLC (TRC)	2,886	0.01%	$36K	-201 (-6.5%)
122	ROYAL BANK OF CANADA	1,728	0.00%	$22K	-4,009 (-69.9%)
123	Caitong International Asset Management Co., Ltd	1,219	0.00%	$15K	+1,114 (+1061.0%)
124	OSAIC HOLDINGS, INC.	1,037	0.00%	$13K	—
125	Versant Capital Management, Inc	829	0.00%	$10K	-170 (-17.0%)
126	EverSource Wealth Advisors, LLC	810	0.00%	$10K	-451 (-35.8%)
127	Rockefeller Capital Management L.P.	684	0.00%	$9K	-2,443 (-78.1%)
128	Allworth Financial LP	605	0.00%	$8K	-500 (-45.2%)
129	Farther Finance Advisors, LLC	504	0.00%	$6K	+256 (+103.2%)
130	Murphy & Mullick Capital Management Corp	500	0.00%	$6K	—
131	GAMMA Investing LLC	496	0.00%	$6K	+50 (+11.2%)
132	FEDERATED HERMES, INC.	464	0.00%	$6K	-8 (-1.7%)
133	HUNTINGTON NATIONAL BANK	390	0.00%	$5K	-7 (-1.8%)
134	RAFFA WEALTH MANAGEMENT, LLC	290	0.00%	$4K	NEW
135	Essential Partners LLC	275	0.00%	$3K	-6,182 (-95.7%)
136	PICTON MAHONEY ASSET MANAGEMENT	192	0.00%	$2K	NEW
137	GROUP ONE TRADING LLC	185	0.00%	$2K	—
138	Quarry LP	165	0.00%	$2K	NEW
139	Buck Wealth Strategies, LLC	153	0.00%	$2K	NEW
140	ROTHSCHILD INVESTMENT LLC	142	0.00%	$2K	-95 (-40.1%)
141	Marquette Asset Management, LLC	139	0.00%	$2K	-59 (-29.8%)
142	NISA INVESTMENT ADVISORS, LLC	135	0.00%	$2K	—
143	Optiver Holding B.V.	126	0.00%	$2K	-104 (-45.2%)
144	Sterling Capital Management LLC	105	0.00%	$1K	-112 (-51.6%)
145	Fortitude Family Office, LLC	101	0.00%	$1K	NEW
146	True Wealth Design, LLC	80	0.00%	$1K	+29 (+56.9%)
147	Parallel Advisors, LLC	68	0.00%	$855	-308 (-81.9%)
148	PNC Financial Services Group, Inc.	64	0.00%	$804	-71 (-52.6%)
149	Smartleaf Asset Management LLC	44	0.00%	$545	—
150	US BANCORP \DE\	39	0.00%	$490	-143 (-78.6%)
151	MassMutual Private Wealth & Trust, FSB	25	0.00%	$314	NEW
152	SJS Investment Consulting Inc.	13	0.00%	$164	+4 (+44.4%)
153	IFP Advisors, Inc	2	0.00%	$25	-132 (-98.5%)

Exited since 2026-03-31 (31 filers; largest 25 shown)

Philadelphia Financial Management of San Francisco, LLC	−480,000
Pacer Advisors, Inc.	−258,250
Y-Intercept (Hong Kong) Ltd	−158,170
GSA CAPITAL PARTNERS LLP	−109,268
State of Wyoming	−43,001
Brooklyn Investment Group	−39,724
Bridgefront Capital, LLC	−26,170
Cannell & Spears LLC	−25,400
LOS ANGELES CAPITAL MANAGEMENT LLC	−23,740
CWM, LLC	−22,425
State of Tennessee, Department of Treasury	−20,728
SG Americas Securities, LLC	−19,473
Cornerstone Investment Partners, LLC	−19,008
AMERIPRISE FINANCIAL INC	−17,807
EVENTIDE ASSET MANAGEMENT, LLC	−17,509
nVerses Capital, LLC	−15,790
Schonfeld Strategic Advisors LLC	−13,917
JANUS HENDERSON GROUP PLC	−13,862
Mach-1 Financial Group, LLC	−11,957
VIRGINIA RETIREMENT SYSTEMS ET Al	−11,200
Aaron Wealth Advisors LLC	−10,242
Jefferies Financial Group Inc.	−10,000
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	−9,100
SIMPLEX TRADING, LLC	−6,846
Private Wealth Asset Management, LLC	−1,000

Large holders from 13D/13G (latest per reporting person, last 2 years)

Filed when a holder crosses 5% or changes materially, so often more current than the quarter-end 13F. Percentages are the filer's own, against the share count they used.

Reporting person	Form	Filed	Event	Shares	% of class
Eugene Nonko	SCHEDULE 13D/A	2026-08-26	2026-08-25	5,198,121	9.8%
O.N.E. Holdings, LLC	SCHEDULE 13D/A	2026-08-26	2026-08-25	4,905,412	9.3%
Divisadero Street Partners, L.P.	SCHEDULE 13G	2026-07-28	2026-07-21	2,993,988	5.5%
Divisadero Street Capital, LLC	SCHEDULE 13G	2026-07-28	2026-07-21	3,128,988	5.8%
Divisadero Street Capital Management, LP	SCHEDULE 13G	2026-07-28	2026-07-21	3,128,988	5.8%
Divisadero Street Partners GP, LLC	SCHEDULE 13G	2026-07-28	2026-07-21	2,993,988	5.5%
William Zolezzi	SCHEDULE 13G	2026-07-28	2026-07-21	3,128,988	5.8%
WM HINSON (BERMUDA) LTD.	SCHEDULE 13D/A	2026-05-01	2026-04-29	17,856,614	33.03%
White Mountains Insurance Group, Ltd.	SCHEDULE 13D/A	2026-05-01	2026-04-29	17,856,614	33.03%
Insignia A QL Holdings, LLC	SCHEDULE 13G/A	2025-11-12	2025-09-30	0	0%
Insignia Capital Partners (Parallel A), L.P.	SCHEDULE 13G/A	2025-11-12	2025-09-30	0	0%
Insignia QL Holdings, LLC	SCHEDULE 13G/A	2025-11-12	2025-09-30	0	0%
Insignia Capital Partners, L.P.	SCHEDULE 13G/A	2025-11-12	2025-09-30	0	0%
Insignia Capital Partners GP, L.L.C.	SCHEDULE 13G/A	2025-11-12	2025-09-30	0	0%
Insignia Capital Partners (AIV), L.P.	SCHEDULE 13G/A	2025-11-12	2025-09-30	0	0%
The Vanguard Group	SCHEDULE 13G/A	2025-10-31	2025-09-30	2,600,621	4.61%
BlackRock, Inc.	SCHEDULE 13G/A	2025-04-29	2025-03-31	2,330,981	4.2%

Source: SEC Form 13F-HR information tables for the quarter ending 2026-06-30 (filed within 45 days of quarter end; amendments applied; values normalised to dollars), the share count from the company's latest 10-K/10-Q XBRL cover page, and Schedule 13D/13G filings. Each row is a legal 13F filer as filed — related entities (e.g. Vanguard's advisers) are not merged. Retail brokerage accounts are not reported on 13F, so the remainder is mostly retail and insiders.