White Mountains Insurance
WTM
352 hedge funds and large institutions have $4.67B invested in White Mountains Insurance in 2025 Q4 according to their latest regulatory filings, with 55 funds opening new positions, 103 increasing their positions, 126 reducing their positions, and 36 closing their positions.
53% more first-time investments, than exits
New positions opened: 55 | Existing positions closed: 36
33% more funds holding in top 10
Funds holding in top 10: 6 → 8 (+2)
20% more capital invested
Capital invested by funds: $3.89B → $4.67B (+$778M)
4% more funds holding
Funds holding: 338 → 352 (+14)
2.03% less ownership
Funds ownership: 90.41% → 88.38% (-2%)
18% less repeat investments, than reductions
Existing positions increased: 103 | Existing positions reduced: 126
100% less call options, than puts
Call options by funds: $0 | Put options by funds: $1.9M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GJL
Gendell Jeffrey L
|
+$63.6M |
| 2 |
Neuberger Berman Group
New York
|
+$28.6M |
| 3 |
RRAM
River Road Asset Management
Louisville,
Kentucky
|
+$22.1M |
| 4 |
UBS AM
Chicago,
Illinois
|
+$15M |
| 5 |
D.E. Shaw & Co
New York
|
+$11.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$111M |
| 2 |
Robeco Institutional Asset Management
Rotterdam,
Netherlands
|
-$32.5M |
| 3 |
Allspring Global Investments
Charlotte,
North Carolina
|
-$22.5M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
-$22.1M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$19.6M |
WTM Hedge Fund Activity: Q4 2025 in Review
352 of the 8,264 institutional investors tracked by Wall St. Rank reported a position in White Mountains Insurance (WTM) for Q4 2025, worth a combined $4.67B — up 20% from $3.89B a quarter earlier.
Buyers outnumbered sellers: 55 funds opened new WTM positions and 36 closed out — a net gain of 19 holders — while 103 added to existing stakes and 126 trimmed.
The largest buyer was Gendell Jeffrey L, opening a new position worth an estimated $63.6M. The largest seller was Morgan Stanley, cutting an estimated $111M.
- 352 institutional investors held White Mountains Insurance (WTM) as of Q4 2025, up from 338 in Q3 2025.
- Funds reported $4.67B of White Mountains Insurance stock for Q4 2025, up 20% quarter-over-quarter.
- 55 funds opened new White Mountains Insurance positions in Q4 2025 and 36 closed out, a net change of +19 holders.
- The largest White Mountains Insurance buyer in Q4 2025 was Gendell Jeffrey L, an estimated $63.6M added.
- The largest White Mountains Insurance seller in Q4 2025 was Morgan Stanley, an estimated $111M sold.
Based on aggregated 13F filings for Q4 2025.