WHITE MTNS INS GROUP LTD WTM
COM · Common Stock · CUSIP G9618E107
- SectorFinancials
- IndustryFire, Marine & Casualty Insurance
- HeadquartersHanover, NH
- Websitewhitemountains.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 ($48.5m this quarter). Holder counts are more reliable. Shares outstanding: 2.6m as of 2025-08-01, 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 ≈ $1795.16.
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 253 |
| Q4 2022 | 264 |
| Q1 2023 | 262 |
| Q2 2023 | 258 |
| Q3 2023 | 272 |
| Q4 2023 | 295 |
| Q1 2024 | 303 |
| Q2 2024 | 306 |
| Q3 2024 | 304 |
| Q4 2024 | 325 |
| Q1 2025 | 323 |
| Q2 2025 | 326 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 110 | 100 |
| Q4 2023 | 114 | 116 |
| Q1 2024 | 129 | 121 |
| Q2 2024 | 132 | 113 |
| Q3 2024 | 132 | 108 |
| Q4 2024 | 140 | 97 |
| Q1 2025 | 124 | 133 |
| Q2 2025 | 133 | 138 |
Biggest buyers
| NEUBERGER BERMAN GROUP LLC | Added | +26.8k |
| COOKE & BIELER LP | Added | +22.1k |
| BRADLEY FOSTER & SARGENT INC/CT | New | +5.5k |
| JANE STREET GROUP, LLC | Added | +5.5k |
| HRT FINANCIAL LP | New | +5.1k |
| Allspring Global Investments Holdings, LLC | Added | +4.7k |
| Edgestream Partners, L.P. | Added | +4.3k |
| Boston Partners | Added | +4.2k |
| ROYAL BANK OF CANADA | Added | +3.1k |
| GOLDMAN SACHS GROUP INC | Added | +2.6k |
Biggest sellers
| FIRST TRUST ADVISORS LP | Reduced | -17.3k |
| Select Equity Group, L.P. | Reduced | -10.1k |
| FULLER & THALER ASSET MANAGEMENT, INC. | Reduced | -9.1k |
| Alaska Permanent Fund Corp | Sold out | -5.9k |
| MORGAN STANLEY | Reduced | -5.6k |
| ROYCE & ASSOCIATES LP | Reduced | -5.0k |
| Nuveen, LLC | Reduced | -4.3k |
| BlackRock, Inc. | Reduced | -3.6k |
| Bank of New York Mellon Corp | Reduced | -1.7k |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.6k |
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 |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
Fell to 5% or below in the last year: Neuberger Berman Group LLC (4.9%, 2026-05-07), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), MORGAN STANLEY (3.0%, 2026-02-12)
Insider purchases and sales in Q2 2025
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 |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 1 | $1.5m | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 249.2k $447.4m | Reduced -946 |
| MORGAN STANLEY 0.02% of their portfolio | 165.1k $296.4m | Reduced -5.6k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 155.8k $279.7m | Reduced -864 |
| BlackRock, Inc. 0.00% of their portfolio | 113.2k $203.2m | Reduced -3.6k |
| River Road Asset Management, LLC 2.49% of their portfolio | 109.9k $196.5m | Added +227 |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.66% of their portfolio | 101.0k $181.3m | Reduced -9.1k |
| Boston Partners 0.18% of their portfolio | 89.4k $160.5m | Added +4.2k |
| NEUBERGER BERMAN GROUP LLC 0.12% of their portfolio | 83.7k $150.3m | Added +26.8k |
| Wallace Capital Management Inc. 19.34% of their portfolio | 79.0k $141.9m | Reduced -895 |
| COOKE & BIELER LP 1.38% of their portfolio | 76.8k $137.9m | Added +22.1k |
| FIDUCIARY MANAGEMENT INC /WI/ 1.23% of their portfolio | 71.5k $128.4m | Reduced -317 |
| LONDON CO OF VIRGINIA 0.70% of their portfolio | 68.8k $123.5m | Reduced -388 |
| T. Rowe Price Investment Management, Inc. 0.07% of their portfolio | 62.9k $113.0m | Added +475 |
| STATE STREET CORP 0.00% of their portfolio | 57.2k $102.8m | Added +2.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 42.5k $76.4m | Added +343 |
| REINHART PARTNERS, LLC. 2.56% of their portfolio | 41.7k $74.9m | Reduced -784 |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 39.4k $70.8m | Reduced -1.6k |
| LORD, ABBETT & CO. LLC 0.19% of their portfolio | 32.2k $57.9m | Reduced -624 |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 30.7k $55.1m | Reduced -1.0k |
| NORGES BANK 0.01% of their portfolio | 30.5k $54.8m | Reduced -476 |
| Allspring Global Investments Holdings, LLC 0.09% of their portfolio | 29.6k $53.0m | Added +4.7k |
| Cannell & Spears LLC 1.03% of their portfolio | 28.3k $50.9m | Reduced -321 |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 24.7k $44.3m | Reduced -787 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 24.2k $43.4m | Reduced -523 |
| Mraz, Amerine & Associates, Inc. 6.21% of their portfolio | 21.6k $38.7m | Added +548 |
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ 1.91% of their portfolio | 21.1k $37.9m | Added +2.6k |
| BROWN ADVISORY INC 0.05% of their portfolio | 20.9k $37.4m | Reduced -1.2k |
| Select Equity Group, L.P. 0.14% of their portfolio | 17.9k $32.1m | Reduced -10.1k |
| Robeco Institutional Asset Management B.V. 0.05% of their portfolio | 17.8k $32.0m | Reduced -1.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 17.6k $31.7m | Added +1.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 17.5k $31.4m | Added +242 |
| NORTHERN TRUST CORP 0.00% of their portfolio | 17.4k $31.3m | Reduced -817 |
| ELKHORN PARTNERS LIMITED PARTNERSHIP 19.45% of their portfolio | 14.9k $26.8m | Reduced -5 |
| WCM INVESTMENT MANAGEMENT, LLC 0.05% of their portfolio | 13.1k $23.4m | Reduced -148 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 12.3k $22.0m | Added +989 |
| SPEECE THORSON CAPITAL GROUP INC 4.16% of their portfolio | 11.4k $20.4m | Added +224 |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.23% of their portfolio | 11.0k $19.7m | Reduced -374 |
| Bank of New York Mellon Corp 0.00% of their portfolio | 10.9k $19.5m | Reduced -1.7k |
| California Public Employees Retirement System 0.01% of their portfolio | 10.4k $18.7m | Reduced -1.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 9.6k $17.2m | Added +237 |
| THOMPSON SIEGEL & WALMSLEY LLC 0.25% of their portfolio | 8.3k $14.9m | Reduced -12 |
| GW&K Investment Management, LLC 0.13% of their portfolio | 8.3k $14.9m | Reduced -195 |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 8.1k $14.4m | Reduced -408 |
| Edgestream Partners, L.P. 0.39% of their portfolio | 7.8k $14.0m | Added +4.3k |
| Perpetual Ltd 0.16% of their portfolio | 7.7k $13.9m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 6.9k $12.4m | Added +2.6k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 6.9k $12.3m | Reduced -24 |
| ROYCE & ASSOCIATES LP 0.12% of their portfolio | 6.6k $11.9m | Reduced -5.0k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 6.4k $11.4m | Reduced -671 |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 6.1k $10.9m | Added +5.5k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 5.7k $10.2m | Reduced -17.3k |
| BRADLEY FOSTER & SARGENT INC/CT 0.16% of their portfolio | 5.5k $9.9m | New |
| Phocas Financial Corp. 1.39% of their portfolio | 5.4k $9.7m | Added +1 |
| Williams Jones Wealth Management, LLC. 0.11% of their portfolio | 5.2k $9.3m | Unchanged |
| HRT FINANCIAL LP 0.05% of their portfolio | 5.1k $9.1m | New |
| UBS Group AG 0.00% of their portfolio | 5.0k $9.0m | Added +1.5k |
| Swiss National Bank 0.01% of their portfolio | 4.9k $8.9m | Unchanged |
| SEI INVESTMENTS CO 0.01% of their portfolio | 4.9k $8.8m | Added +805 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 4.4k $7.9m | Added +3.1k |
| Legal & General Group Plc 0.00% of their portfolio | 4.3k $7.7m | Added +179 |
| Quantinno Capital Management LP 0.03% of their portfolio | 4.3k $7.7m | Reduced -316 |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 4.3k $7.7m | Reduced -192 |
| PROSPECTOR PARTNERS LLC 0.85% of their portfolio | 4.1k $7.3m | Added +221 |
| Invesco Ltd. 0.00% of their portfolio | 3.6k $6.5m | Reduced -374 |
| Brandywine Global Investment Management, LLC 0.04% of their portfolio | 3.5k $6.3m | Reduced -100 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 3.5k $6.3m | Reduced -50 |
| Nuveen, LLC 0.00% of their portfolio | 3.5k $6.2m | Reduced -4.3k |
| BARCLAYS PLC 0.00% of their portfolio | 3.4k $6.1m | Added +88 |
| LEE DANNER & BASS INC 0.44% of their portfolio | 3.1k $5.7m | Unchanged |
| HARBOR CAPITAL ADVISORS, INC. 0.22% of their portfolio | 3.0k $5.3m | Reduced -82 |
| Creative Planning 0.00% of their portfolio | 2.8k $5.1m | Added +152 |
| MML INVESTORS SERVICES, LLC 0.01% of their portfolio | 2.7k $4.9m | Added +160 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 2.6k $4.7m | Reduced -379 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 2.5k $4.5m | Reduced -204 |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 2.4k $4.4m | Added +78 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 2.4k $4.3m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.3k $4.2m | Added +337 |
| DAVENPORT & Co LLC 0.02% of their portfolio | 2.2k $3.9m | Unchanged |
| Forum Financial Management, LP 0.06% of their portfolio | 2.0k $3.6m | Added +353 |
| LPL Financial LLC 0.00% of their portfolio | 2.0k $3.6m | Added +115 |
| Cerity Partners LLC 0.01% of their portfolio | 1.9k $3.4m | Added +4 |
| PARSONS CAPITAL MANAGEMENT INC/RI 0.21% of their portfolio | 1.9k $3.4m | Added +384 |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 1.8k $3.2m | Added +517 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.8k $3.1m | Added +79 |
| TD Asset Management Inc 0.00% of their portfolio | 1.6k $2.9m | Added +26 |
| Focus Partners Wealth 0.01% of their portfolio | 1.6k $2.9m | Added +249 |
| STRS OHIO 0.01% of their portfolio | 1.6k $2.8m | Added +430 |
| HighTower Advisors, LLC 0.00% of their portfolio | 1.5k $2.6m | Reduced -2 |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 1.4k $2.5m | Added +436 |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.03% of their portfolio | 1.4k $2.4m | Added +28 |
| CITIGROUP INC 0.00% of their portfolio | 1.4k $2.4m | Added +494 |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 1.3k $2.4m | Reduced -61 |
| AGF MANAGEMENT LTD 0.01% of their portfolio | 1.3k $2.4m | Added +56 |
| Main Street Financial Solutions, LLC 0.17% of their portfolio | 1.3k $2.3m | Added +32 |
| TRUIST FINANCIAL CORP 0.00% of their portfolio | 1.2k $2.2m | Reduced -129 |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.02% of their portfolio | 1.2k $2.2m | Unchanged |
| 1834 INVESTMENT ADVISORS CO 0.27% of their portfolio | 1.2k $2.1m | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 1.2k $2.1m | Reduced -5 |
| PECAUT & CO. 0.70% of their portfolio | 1.2k $2.1m | Unchanged |
| LEUTHOLD GROUP, LLC 0.25% of their portfolio | 1.2k $2.1m | Reduced -23 |