$MAX

$11.88 -$0.02 (0.17%) Close

$MAX Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 53.7M shares outstanding

Who owns MAX?

By type of holder

Institutions 90.5% Insiders 0.0% Everyone else 9.5%

Concentration Top 10 holders own 66.7%

White Mountains Insurance Group LTD 33.2% · Eugene Nonko 9.7%

Institutional ownership

90.5%

+0.3 pts vs last qtr

Institutional holders

152

-11 vs last qtr

Net shares bought

+150.9K

by institutions in Q2 2026

New / sold out

21 / 32

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Divisadero Street Capital Management, LP +933.1K
EVR Research LP NEW +440.0K

Biggest sellers in Q2 2026

J. Goldman & Co LP −584.6K
Philadelphia Financial Management of San Francisco, LLC SOLD OUT −480.0K

Who is planning to sell?

Notices of proposed sale, last 12 months

$46.4M

65 notices from 5 people

Shares covered

3.8M

7.03% of the company

Arranged in advance

100%

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Nonko Eugene Director 10b5-1 $23.5M
Yi Steven Officer 10b5-1 $19.9M

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2020–FY2025

+107.8%

+15.76% a year

Each share's claim on the business

−51.9%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

— vs $247M

over 6 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years61% 3–5 years12% 1–3 years17% Under 1 year10%

Quarterly turnover

9.4%

of institutional shares changed hands

Top 10 managers, median time held

5 years

Super Investors

Investment managers reporting MAX on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
WM White Mountains Insurance Group LTD 13D · 33.0%	17.9M	33.22%	Unchanged	≤2021	57.0%
Shares held by quarter Peak holding17.9M (Q3'24) Change over 8 quarters0 Share of the company33.220% Disclosed stake13D · 33.0% White Mountains Insurance Group LTD's full portfolio →
B BlackRock, Inc.	3.4M	6.31%	−84.3K (−2.4%)	≤2021	0.0%
Shares held by quarter Peak holding4.0M (Q2'25) Change over 8 quarters−376.0K Share of the company6.310% BlackRock, Inc.'s full portfolio →

White Mountains Insurance Group LTD

13D · 33.0%

17.9M

% of company

33.22%

Change vs last qtr

Unchanged

Held since

≤2021

BlackRock, Inc.

3.4M

% of company

6.31%

Change vs last qtr

−84.3K (−2.4%)

Held since

≤2021

28 more super investors behind a free account

See every manager holding MediaAlpha, Inc., how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting MAX on Form N-PORT; together they hold 15.8% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
JS JPMorgan Small Cap Blend Fund JPMorgan Trust I	$17.6M	1.4M	2.61%	1.04%	June 30, 2026
VT Vanguard Total Stock Market Index Fund Vanguard Index Funds	$11.1M	882.7K	1.64%	0.00%	June 30, 2026

JPMorgan Small Cap Blend Fund

JPMorgan Trust I

Position value

$17.6M

% of company

2.61%

% of the fund

1.04%

As of

June 30, 2026

Vanguard Total Stock Market Index Fund

Vanguard Index Funds

Position value

$11.1M

% of company

1.64%

% of the fund

0.00%

As of

June 30, 2026

23 more funds behind a free account

See every fund holding MediaAlpha, Inc. and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
EN Eugene Nonko 5%+ holder 13D · 9.8%	5.2M	9.67%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company9.670% Disclosed stake13D · 9.8% View the 13D/G filing →

Eugene Nonko

5%+ holder13D · 9.8%

5.2M

% of company

9.67%

Change vs last qtr

—

Held since

—

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