WM
White Mountains Insurance Group LTD Quarterly 13F Portfolio Update (Q2 2026)
White Mountains Insurance Group LTDCIK: 0000776867
Concentrated strategyQuality / disciplined sizing
Total reported value
$393.6M
Reporting period: 2026-06-30 · Number of holdings: 2
WHITE MOUNTAINS INSURANCE GROUP LTD disclosed 2 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $393.6M and a quarterly turnover rate of 22.7%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 22.7
- Momentum
- 50
- Sector conviction
- 0
- Diversification
- 4
- Sizing Uniformity
- 98.01
Sector classification currently covers about 0% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MAX
0.0% $58.4M
Trim SPY
0.0% $21.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MAX | Mediaalpha Inc-class A | Stock-Other | 57.03% | +4.04% | — | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 42.97% | -4.04% | — |
Portfolio Performance
Performance for Q3 2026
+22.4%
Performance Last 4 Quarters
+6.6%
- Stdev
- +36%
- Beta
- +0.49
- Alpha
- +6.4%
- Max Drawdown
- -38%
- Annualized Perf
- +10.7%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +0.79
- Stutzer
- +0.13
- Treynor
- +0.33
- Sterling
- +0.26
- Calmar
- +0.28
- Information Ratio
- -0.1
- Tracking Error
- +36%
- Stdev Down
- +20.7%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +65.2%
- Worst 12 Months
- -36.3%
- Efficiency Ratio
- +0.13
- Sharpe
- +0.45
- Stdev Sectors
- —
- Skewness
- +0.63
- Kurtosis
- +1.78
- Upside Potential
- +2.6
Reported value over time
Sector allocation
Not enough sector-mapped data yet
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 2 | $393.6M | 23 | ||
| 2026 Q1 | 2 | $313.4M | 63 | ||
| 2025 Q4 | 2 | $261.9M | 25 | ||
| 2025 Q3 | 1 | $203.2M | 80 | ||
| 2025 Q2 | 1 | $195.5M | 0 | ||
| 2025 Q1 | 2 | $285.9M | 100 | ||
| 2024 Q4 | 2 | $426.2M | 0 | ||
| 2024 Q3 | 2 | $543.2M | 0 | ||
| 2024 Q2 | 2 | $443.7M | 0 | ||
| 2024 Q1 | 2 | $617.2M | 0 | ||
| 2023 Q4 | 2 | $392.6M | 0 | ||
| 2023 Q3 | 2 | $440.9M | 0 | ||
| 2023 Q2 | 2 | $508.2M | 0 | ||
| 2023 Q1 | 2 | $611.1M | 0 | ||
| 2022 Q4 | 2 | $502.4M | 0 | ||
| 2022 Q3 | 2 | $194.7M | 0 | ||
| 2022 Q2 | 1 | $166.9M | 0 | ||
| 2022 Q1 | 1 | $280.4M | 0 | ||
| 2021 Q4 | 1 | $261.6M | 0 | ||
| 2021 Q3 | 1 | $316.4M | 0 | ||
| 2021 Q2 | 1 | $713.2M | 100 | ||
| 2021 Q1 | 1 | $600.2M | 29 | ||
| 2020 Q4 | 1 | $802.2M | 100 | ||
| 2015 Q4 | 1 | $653.3M | 0 | 187151Q | |
| 2015 Q3 | 1 | $650.6M | 27 | 187151Q | |
| 2015 Q2 | 1 | $497.0M | 6 | 187151Q | |
| 2015 Q1 | 1 | $470.3M | 2 | 187151Q | |
| 2014 Q4 | 1 | $462.1M | 1 | 187151Q | |
| 2014 Q3 | 1 | $467.7M | 3 | 187151Q | |
| 2014 Q2 | 1 | $455.9M | 14 | 187151Q | |
| 2014 Q1 | 2 | $397.9M | 4 | 187151Q2SIEGY | |
| 2013 Q4 | 2 | $380.7M | 6 | 187151Q2SIEGY | |
| 2013 Q3 | 2 | $357.7M | 11 | 187151Q2SIEGY | |
| 2013 Q2 | 2 | $321.0M | — | 187151Q2SIEGY |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MAX | Mediaalpha Inc-class A | +4% | — | Unchanged |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | -4% | — | Unchanged |
Filing History
FAQ
What is White Mountains Insurance Group LTD and what type of investor is it?
White Mountains Insurance Group LTD is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $393.6M, spread across 2 disclosed positions.
What are White Mountains Insurance Group LTD's largest equity positions?
Based on the latest 13F filing, White Mountains Insurance Group LTD's top holdings by market value are:
1. Mediaalpha Inc-class A (MAX) — $224.5M (57.0%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $169.1M (43.0%)
What changes did White Mountains Insurance Group LTD make in its most recent portfolio filing?
No notable portfolio changes were recorded for White Mountains Insurance Group LTD in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does White Mountains Insurance Group LTD focus on?
Sector breakdown data is not yet available for White Mountains Insurance Group LTD. Check back after the next 13F processing cycle.
Investment Profile
White Mountains Insurance Group LTD returned an annualized 10.7% over the trailing 36 months — outperforming the S&P 500 by 6.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.49 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is concentrated and moderately active.
Its turnover score has risen from 0 to 23 over the past 4 quarters — a shift toward more active trading.
It has added to its SPY position for two straight quarters, increasing it by $138.5M to reach $169.1M.
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RW
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3F
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IW
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Developer Access
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