# WHITE MOUNTAINS INSURANCE GROUP LTD

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 776867. Source: https://holderbook.com/funds/776867-white-mountains-insurance-group-ltd/

- Reported value: $393.6M
- Positions: 2
- Weight of the ten largest: 100.0%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MEDIAALPHA INC | [MAX](https://holderbook.com/stocks/MAX/) | $224.5M | 17,856,614 | 57.0% | 23 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $169.1M | 226,500 | 43.0% | 3 |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $393.6M | 2 |
| Q1 2026 | $313.4M | 2 |
| Q4 2025 | $261.9M | 2 |
| Q3 2025 | $203.2M | 1 |
| Q2 2025 | $195.5M | 1 |
| Q1 2025 | $285.9M | 2 |
| Q4 2024 | $426.2M | 2 |
| Q3 2024 | $543.2M | 2 |
| Q2 2024 | $443.7M | 2 |
| Q1 2024 | $617.2M | 2 |
| Q4 2023 | $392.6M | 2 |
| Q3 2023 | $440.9M | 2 |