White Mountains Insurance
WTM
338 hedge funds and large institutions have $3.89B invested in White Mountains Insurance in 2025 Q3 according to their latest regulatory filings, with 44 funds opening new positions, 105 increasing their positions, 103 reducing their positions, and 28 closing their positions.
57% more first-time investments, than exits
New positions opened: 44 | Existing positions closed: 28
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
4% more funds holding
Funds holding: 325 → 338 (+13)
2% more repeat investments, than reductions
Existing positions increased: 105 | Existing positions reduced: 103
0.27% more ownership
Funds ownership: 90.15% → 90.41% (+0.27%)
7% less capital invested
Capital invested by funds: $4.17B → $3.89B (-$272M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Neuberger Berman Group
New York
|
+$55.9M |
| 2 |
CB
Cooke & Bieler
Philadelphia,
Pennsylvania
|
+$55.4M |
| 3 |
FMI
Fiduciary Management Inc
Milwaukee,
Wisconsin
|
+$40.9M |
| 4 |
SAM
Southeastern Asset Management
Memphis,
Tennessee
|
+$18.8M |
| 5 |
Fuller & Thaler Asset Management
San Mateo,
California
|
+$12.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$46.8M |
| 2 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$27.1M |
| 3 |
UBS AM
Chicago,
Illinois
|
-$21.9M |
| 4 |
Victory Capital Management
San Antonio,
Texas
|
-$16.3M |
| 5 |
EP
Edgestream Partners
Princeton,
New Jersey
|
-$11.5M |
WTM Hedge Fund Activity: Q3 2025 in Review
338 of the 7,640 institutional investors tracked by Wall St. Rank reported a position in White Mountains Insurance (WTM) for Q3 2025, worth a combined $3.89B — down 6.5% from $4.17B a quarter earlier.
Buyers outnumbered sellers: 44 funds opened new WTM positions and 28 closed out — a net gain of 16 holders — while 105 added to existing stakes and 103 trimmed.
The largest buyer was Neuberger Berman Group, adding an estimated $55.9M. The largest seller was Morgan Stanley, cutting an estimated $46.8M.
- 338 institutional investors held White Mountains Insurance (WTM) as of Q3 2025, up from 325 in Q2 2025.
- Funds reported $3.89B of White Mountains Insurance stock for Q3 2025, down 6.5% quarter-over-quarter.
- 44 funds opened new White Mountains Insurance positions in Q3 2025 and 28 closed out, a net change of +16 holders.
- The largest White Mountains Insurance buyer in Q3 2025 was Neuberger Berman Group, an estimated $55.9M added.
- The largest White Mountains Insurance seller in Q3 2025 was Morgan Stanley, an estimated $46.8M sold.
Based on aggregated 13F filings for Q3 2025.