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White Mountains Insurance
WTM

325 hedge funds and large institutions have $4.17B invested in White Mountains Insurance in 2025 Q2 according to their latest regulatory filings, with 33 funds opening new positions, 103 increasing their positions, 112 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

27% more first-time investments, than exits

New positions opened: 33 | Existing positions closed: 26

1% more funds holding

Funds holding: 322 → 325 (+3)

0.04% less ownership

Funds ownership: 90.18% → 90.15% (-0.04%)

8% less repeat investments, than reductions

Existing positions increased: 103 | Existing positions reduced: 112

6% less capital invested

Capital invested by funds: $4.44B → $4.17B (-$277M)

29% less funds holding in top 10

Funds holding in top 10: 7 → 5 (-2)

Holders
325
Holders Change
+3
Holders Change %
+0.93%
% of All Funds
4.28%
Holding in Top 10
5
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-28.57%
% of All Funds
0.07%
New
33
Increased
103
Reduced
112
Closed
26
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Neuberger Berman Group
Neuberger Berman Group
New York
+$47.7M
2
CB
Cooke & Bieler
Pennsylvania
+$39.4M
3
BFS
Bradley Foster & Sargent
Connecticut
+$9.82M
4
Jane Street
Jane Street
New York
+$9.77M
5
HF
HRT Financial
New York
+$9.05M

Top Sellers

Rank Fund Capital Flow
1
First Trust Advisors
First Trust Advisors
Illinois
-$30.7M
2
Select Equity Group
Select Equity Group
New York
-$18M
3
Fuller & Thaler Asset Management
Fuller & Thaler Asset Management
California
-$16.2M
4
APF
Alaska Permanent Fund
Alaska
-$10.4M
5
Morgan Stanley
Morgan Stanley
New York
-$9.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
76
JP Morgan Chase
New York
$4.17M +$599K +337 +17%
Royal Bank of Canada
77
Royal Bank of Canada
Ontario, Canada
$3.93M +$1.61M +908 +71%
DC
78
Davenport & Co
Virginia
$3.9M – – –
FFM
79
Forum Financial Management
Illinois
$3.62M +$628K +353 +21%
LPL Financial
80
LPL Financial
California
$3.56M +$205K +115 +6%
Cerity Partners
81
Cerity Partners
New York
$3.41M +$7.11K +4 +0.2%
PCM
82
Parsons Capital Management
Rhode Island
$3.4M +$683K +384 +25%
Qube Research & Technologies (QRT)
83
Qube Research & Technologies (QRT)
United Kingdom
$3.22M +$920K +517 +41%
T. Rowe Price Associates
84
T. Rowe Price Associates
Maryland
$3.15M +$141K +79 +5%
TD Asset Management
85
TD Asset Management
Ontario, Canada
$2.91M +$46.2K +26 +2%
Focus Partners Wealth
86
Focus Partners Wealth
Massachusetts
$2.87M +$443K +249 +18%
SO
87
STRS Ohio
Ohio
$2.83M +$765K +430 +38%
HighTower Advisors
88
HighTower Advisors
Illinois
$2.63M -$3.56K -2 -0.1%
Millennium Management
89
Millennium Management
New York
$2.5M +$775K +436 +46%
OAM
90
Oppenheimer Asset Management
New York
$2.45M +$49.8K +28 +2%
Citigroup
91
Citigroup
New York
$2.45M +$879K +494 +57%
Stifel Financial
92
Stifel Financial
Missouri
$2.41M -$108K -61 -4%
AM
93
AGF Management
Ontario, Canada
$2.39M +$99.6K +56 +4%
MSFS
94
Main Street Financial Solutions
Pennsylvania
$2.32M +$56.9K +32 +3%
Truist Financial
95
Truist Financial
North Carolina
$2.23M -$229K -129 -9%
TRSOTSOK
96
Teachers Retirement System of the State of Kentucky
Kentucky
$2.17M – – –
1IA
97
1834 Investment Advisors
Wisconsin
$2.11M – – –
Citadel Advisors
98
Citadel Advisors
Florida
$2.1M -$8.89K -5 -0.4%
PC
99
Pecaut & Co
Iowa
$2.1M – – –
LG
100
Leuthold Group
Minnesota
$2.09M -$40.9K -23 -2%
2 3
4
5 6

WTM Hedge Fund Activity: Q2 2025 in Review

325 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in White Mountains Insurance (WTM) for Q2 2025, worth a combined $4.17B — down 6.2% from $4.44B a quarter earlier.

Buyers outnumbered sellers: 33 funds opened new WTM positions and 26 closed out — a net gain of 7 holders — while 103 added to existing stakes and 112 trimmed.

The largest buyer was Neuberger Berman Group, adding an estimated $47.7M. The largest seller was First Trust Advisors, cutting an estimated $30.7M.

  • 325 institutional investors held White Mountains Insurance (WTM) as of Q2 2025, up from 322 in Q1 2025.
  • Funds reported $4.17B of White Mountains Insurance stock for Q2 2025, down 6.2% quarter-over-quarter.
  • 33 funds opened new White Mountains Insurance positions in Q2 2025 and 26 closed out, a net change of +7 holders.
  • The largest White Mountains Insurance buyer in Q2 2025 was Neuberger Berman Group, an estimated $47.7M added.
  • The largest White Mountains Insurance seller in Q2 2025 was First Trust Advisors, an estimated $30.7M sold.

Based on aggregated 13F filings for Q2 2025.