BERKLEY W R CORP WRB
COM · Common Stock · CUSIP 084423102 · ISIN US0844231029
Commercial lines property & casualty insurance holding company organized in Delaware and based in Greenwich, Connecticut
- SectorFinancials
- IndustryFire, Marine & Casualty Insurance
- HeadquartersGreenwich, CT
- Founded1967
- Websitewrberkley.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($47.0m this quarter). Holder counts are more reliable. Shares outstanding: 255.7m as of 2024-04-29, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $88.23. Options: 8 managers hold calls ($13.9m notional), 9 hold puts ($19.2m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 667 |
| Q4 2022 | 715 |
| Q1 2023 | 692 |
| Q2 2023 | 660 |
| Q3 2023 | 667 |
| Q4 2023 | 728 |
| Q1 2024 | 772 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 345 | 281 |
| Q1 2023 | 338 | 340 |
| Q2 2023 | 282 | 364 |
| Q3 2023 | 298 | 293 |
| Q4 2023 | 339 | 288 |
| Q1 2024 | 370 | 308 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $3.7m | $4.9m | 1.33 |
| Q3 2023 | $3.8m | $4.1m | 1.10 |
| Q4 2023 | $14.7m | $14.6m | 0.99 |
| Q1 2024 | $13.9m | $19.2m | 1.38 |
Biggest buyers
| MORGAN STANLEY | Added | +12.7m |
| PARNASSUS INVESTMENTS, LLC | New | +874.7k |
| Invesco Ltd. | Added | +569.6k |
| JPMORGAN CHASE & CO | Added | +552.2k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Added | +485.9k |
| Caisse de depot et placement du Quebec | Added | +481.7k |
| Junto Capital Management LP | New | +468.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +444.3k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Added | +313.2k |
| Woodline Partners LP | New | +299.9k |
Biggest sellers
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -1.0m |
| BlackRock Inc. | Reduced | -683.2k |
| JANUS HENDERSON GROUP PLC | Reduced | -516.9k |
| STATE STREET CORP | Reduced | -447.3k |
| GOLDMAN SACHS GROUP INC | Reduced | -398.8k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -239.1k |
| FIRST TRUST ADVISORS LP | Reduced | -222.5k |
| Allianz Asset Management GmbH | Reduced | -159.0k |
| Allspring Global Investments Holdings, LLC | Reduced | -154.1k |
| PRUDENTIAL FINANCIAL INC | Reduced | -153.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.7m52.6k shares |
| CITADEL ADVISORS LLC | Added | $3.9m43.9k shares |
| WOLVERINE TRADING, LLC | Added | $3.2m35.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $751.0k8.5k shares |
| JANE STREET GROUP, LLC | Reduced | $601.4k6.8k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $539.5k6.1k shares |
| GROUP ONE TRADING LLC | New | $318.4k3.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Balyasny Asset Management L.P. | New | $11.1m125.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $5.7m63.9k shares |
| CITADEL ADVISORS LLC | Reduced | $840.2k9.5k shares |
| GTS SECURITIES LLC | Reduced | $583.7k6.6k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $442.2k5.0k shares |
| WOLVERINE TRADING, LLC | New | $247.6k2.8k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $247.6k2.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $132.0k1.5k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
BERKLEY WILLIAM R JR
13D · may seek influence
filed 2026-07-21
Stated purposeItem 4 is hereby amended by replacing the first paragraph with the following: Calculations of the Reporting Persons' beneficial ownership on the cover pages and in Item 5(a) of this Statement are based on 372,276,732 shares of Common Stock outstanding as of April 27, 2026, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 1, 2026. Full filing |
25.7% |
BERKLEY WILLIAM R
13D · may seek influence
+0.4 pts · filed 2026-03-05
Stated purposeItem 4 is hereby amended by replacing the first paragraph with the following: Calculations of the Reporting Persons' beneficial ownership on the cover pages and in Item 5(a) of this Statement are based on 374,490,856 shares of Common Stock outstanding as of February 23, 2026, as reported in the Issuer's Form 10-K filed with the Securities and Exchange Commission on February 27, 2026. However, when calculating MSI's percentage ownership for certain purposes under the Framework Agreement and LLC Agreement, MSI uses as its denominator 391,869,666 shares of Common Stock, which comprises such number of shares of Common Stock outstanding as of February 23, 2026 and 17,378,810 shares of Common Stock held in a grantor trust as of December 31, 2025, each as reported in the Issuer's Form 10-K filed… Full filing |
25.5% |
MITSUI SUMITOMO INSURANCE CO LTD
13D · may seek influence
+0.1 pts · filed 2026-06-04
Stated purposeItem 4 is hereby amended by replacing the second to last paragraph of Item 4 with the following: In connection with MSI's acquisition of fifteen percent (15%) of the Outstanding Agreement Shares, MSI designated Andrew Carrier, an executive officer of MSI, to serve as a director of the Issuer. Mr. Carrier was nominated to the slate of directors up for election to the Issuer's Board at the Issuer's 2026 annual meeting by the Issuer's Board following the recommendation of the Issuer's Nominating and Corporate Governance Committee to the Board. On June 3, 2026, Mr. Carrier was elected to the Board at the annual meeting of stockholders of the Issuer. Mr. Carrier was designated by MSI pursuant to the terms of the Framework Agreement. Full filing |
15.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.8% |
Fell to 5% or below in the last year: BlackRock, Inc. (4.6%, 2026-10-27), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 2 | $372.2k | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.09% of their portfolio | 37.9m $3.4bn | Added +12.7m |
| VANGUARD GROUP INC 0.04% of their portfolio | 24.4m $2.2bn | Added +195.8k |
| BlackRock Inc. 0.03% of their portfolio | 15.7m $1.4bn | Reduced -683.2k |
| STATE STREET CORP 0.04% of their portfolio | 10.4m $924.0m | Reduced -447.3k |
| JPMORGAN CHASE & CO 0.04% of their portfolio | 9.2m $810.8m | Added +552.2k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 1.54% of their portfolio | 7.5m $663.2m | Added +485.9k |
| JANUS HENDERSON GROUP PLC 0.36% of their portfolio | 7.5m $659.4m | Reduced -516.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 5.0m $439.8m | Added +180.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.41% of their portfolio | 4.7m $419.9m | Reduced -1.0m |
| Invesco Ltd. 0.06% of their portfolio | 3.3m $288.4m | Added +569.6k |
| NORGES BANK 0.04% of their portfolio | 3.1m $275.8m | Added +97.2k |
| APG Asset Management N.V. 0.37% of their portfolio | 2.6m $213.4m | Added +107.1k |
| FIRST TRUST ADVISORS LP 0.23% of their portfolio | 2.6m $226.5m | Reduced -222.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.19% of their portfolio | 2.3m $207.7m | Added +444.3k |
| NORTHERN TRUST CORP 0.03% of their portfolio | 1.9m $172.1m | Reduced -95.9k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.9m $171.0m | Added +180.1k |
| 1832 Asset Management L.P. 0.31% of their portfolio | 1.9m $168.3m | Reduced -45.6k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 1.9m $167.9m | Reduced -35.7k |
| Polar Capital Holdings Plc 0.88% of their portfolio | 1.9m $166.9m | Reduced -20.0k |
| WELLS FARGO & COMPANY/MN 0.04% of their portfolio | 1.8m $160.2m | Added +14.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.7m $150.1m | Added +13.0k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.6m $143.1m | Reduced -118.3k |
| UBS Group AG 0.04% of their portfolio | 1.5m $130.7m | Added +216.4k |
| Caisse de depot et placement du Quebec 0.31% of their portfolio | 1.5m $129.0m | Added +481.7k |
| Legal & General Group Plc 0.04% of their portfolio | 1.4m $123.3m | Reduced -68.1k |
| BARCLAYS PLC 0.05% of their portfolio | 1.3m $113.6m | Added +11.2k |
| California Public Employees Retirement System 0.07% of their portfolio | 1.2m $104.8m | Added +221 |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.35% of their portfolio | 1.2m $102.4m | Added +5.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 1.1m $98.8m | Reduced -11.0k |
| HSBC HOLDINGS PLC 0.07% of their portfolio | 1.1m $94.7m | Added +107.2k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 1.1m $94.2m | Added +12.5k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 997.7k $88.2m | Reduced -398.8k |
| EULAV Asset Management 2.42% of their portfolio | 996.3k $88.1m | Added +27.0k |
| ANCHOR CAPITAL ADVISORS LLC 2.24% of their portfolio | 968.2k $85.6m | Added +3.4k |
| CONFLUENCE INVESTMENT MANAGEMENT LLC 1.11% of their portfolio | 935.2k $82.7m | Reduced -18.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio | 909.4k $80.4m | Added +66.0k |
| PARNASSUS INVESTMENTS, LLC 0.17% of their portfolio | 874.7k $77.4m | New |
| Madison Asset Management, LLC 0.94% of their portfolio | 868.0k $76.8m | Added +99.1k |
| RAYMOND JAMES & ASSOCIATES 0.05% of their portfolio | 809.5k $71.6m | Added +60.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 801.4k $70.9m | Added +49.4k |
| TRUIST FINANCIAL CORP 0.11% of their portfolio | 785.1k $69.4m | Added +55.0k |
| CHILTON INVESTMENT CO INC. 1.90% of their portfolio | 783.9k $69.3m | Reduced -6.8k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 737.5k $65.2m | Added +4.8k |
| Amundi 0.02% of their portfolio | 698.9k $56.6m | Added +95.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 685.4k $60.6m | Reduced -149.2k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 684.9k $60.6m | Added +146.2k |
| BOSTON FINANCIAL MANGEMENT LLC 1.90% of their portfolio | 675.6k $59.7m | Reduced -537 |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 644.9k $57.0m | Added +22.1k |
| Swiss National Bank 0.04% of their portfolio | 617.8k $54.6m | Reduced -26.4k |
| Dundas Partners LLP 4.26% of their portfolio | 611.5k $54.1m | Added +40.5k |
| Maren Capital LLC 5.16% of their portfolio | 605.8k $53.6m | Added +69.6k |
| BRANDES INVESTMENT PARTNERS, LP 0.67% of their portfolio | 589.5k $52.1m | Added +12.3k |
| DANSKE BANK A/S 0.16% of their portfolio | 571.7k $50.6m | First filing |
| STIFEL FINANCIAL CORP 0.05% of their portfolio | 526.3k $46.5m | Added +10.7k |
| BloombergSen Inc. 4.02% of their portfolio | 526.2k $46.5m | Reduced -10.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 520.1k $46.0m | Added +443 |
| AQR CAPITAL MANAGEMENT LLC 0.08% of their portfolio | 505.3k $44.7m | Reduced -30.2k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.11% of their portfolio | 477.8k $42.3m | Added +313.2k |
| Junto Capital Management LP 0.92% of their portfolio | 468.9k $41.5m | New |
| CREDIT SUISSE AG/ 0.04% of their portfolio | 464.0k $41.0m | Added +20.4k |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 436.1k $38.6m | Reduced -25.6k |
| TD Asset Management Inc 0.04% of their portfolio | 435.1k $38.5m | Added +89.3k |
| Mraz, Amerine & Associates, Inc. 7.19% of their portfolio | 430.2k $38.0m | Reduced -5.1k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 424.6k $37.6m | Reduced -6.0k |
| Corient Private Wealth LP 0.06% of their portfolio | 377.7k $33.4m | Reduced -9.3k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 330.5k $29.2m | Reduced -58.3k |
| National Pension Service 0.03% of their portfolio | 329.2k $29.1m | Reduced -24.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 324.2k $28.7m | Reduced -28.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 314.3k $27.8m | Reduced -818 |
| Woodline Partners LP 0.25% of their portfolio | 299.9k $26.5m | New |
| NATIXIS ADVISORS, LLC 0.06% of their portfolio | 294.7k $26.1m | Added +87.9k |
| America First Investment Advisors, LLC 6.13% of their portfolio | 285.1k $25.2m | Reduced -3.7k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.11% of their portfolio | 283.7k $25.1m | Added +13.9k |
| Man Group plc 0.07% of their portfolio | 279.0k $24.7m | Added +11.8k |
| Susquehanna Portfolio Strategies, LLC 0.57% of their portfolio | 275.2k $24.3m | Unchanged |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.15% of their portfolio | 274.5k $24.3m | Reduced -38.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 274.1k $24.2m | Added +4.3k |
| Wallington Asset Management, LLC 3.67% of their portfolio | 265.0k $23.4m | Added +1.1k |
| STANSBERRY ASSET MANAGEMENT, LLC 3.15% of their portfolio | 264.3k $23.4m | Added +27.6k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 251.3k $15.6m | Added +8.6k |
| LOOMIS SAYLES & CO L P 0.03% of their portfolio | 250.8k $22.2m | Reduced -3.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 246.8k $21.8m | Reduced -23.8k |
| CWM, LLC 0.11% of their portfolio | 245.8k $21.7m | Reduced -18.6k |
| CITIGROUP INC 0.02% of their portfolio | 245.7k $21.7m | Added +17.3k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio | 244.2k $21.6m | Added +39.5k |
| Allianz Asset Management GmbH 0.04% of their portfolio | 242.7k $21.5m | Reduced -159.0k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 238.2k $21.1m | Reduced -48.1k |
| Allspring Global Investments Holdings, LLC 0.03% of their portfolio | 232.7k $20.6m | Reduced -154.1k |
| Cerity Partners LLC 0.05% of their portfolio | 222.2k $19.6m | Added +36.9k |
| PhiloSmith Capital Corp 5.45% of their portfolio | 219.9k $19.4m | Unchanged |
| CHURCHILL MANAGEMENT Corp 0.24% of their portfolio | 218.4k $19.3m | Added +2.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 210.5k $18.6m | Reduced -39 |
| ROYCE & ASSOCIATES LP 0.16% of their portfolio | 207.1k $18.3m | Added +52.1k |
| Korea Investment CORP 0.05% of their portfolio | 206.9k $18.3m | Added +34.8k |
| Driehaus Capital Management LLC 0.18% of their portfolio | 205.2k $18.2m | Reduced -47.2k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 205.2k $18.2m | Added +12.9k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 194.4k $17.2m | Added +72.6k |
| LPL Financial LLC 0.01% of their portfolio | 191.0k $16.9m | Added +59.3k |
| STEPHENS INC /AR/ 0.26% of their portfolio | 187.9k $16.6m | Added +2.3k |
| Mitsubishi UFJ Trust & Banking Corp 0.04% of their portfolio | 184.5k $16.3m | Reduced -11.4k |