White Mountains Insurance Group (WTM) reported second-quarter 2026 book value per share of $2,258 as of June 30, up 4% in the quarter and 3% for the first six months, including dividends. Total revenues were $844.6 million, compared with $689.2 million a year earlier.
Net income attributable to common shareholders was $199.5 million, compared with $122.9 million in Q2 2025. Basic and diluted earnings per share were $80.58, compared with $47.75 a year earlier.
- Comprehensive income attributable to common shareholders was $199 million for the quarter and $173 million for the first six months of 2026.
- Ark/WM Outrigger posted an 84% combined ratio in the quarter, with gross written premiums of $778 million and net earned premiums of $376 million.
- Kudu reported total revenues of $69 million and pre-tax income of $57 million in Q2 2026.
- HG Global paid a $93 million cash dividend to shareholders after refinancing its senior debt facility, including $90 million paid to White Mountains.
- White Mountains repurchased and retired 91,194 common shares for $191 million during the quarter.
- As of June 30, White Mountains owned 17.9 million MediaAlpha shares, and MediaAlpha’s share price rose to $12.57 from $9.30 at March 31.
$WTM Hedge Fund Activity
We have seen 146 institutional investors add shares of $WTM stock to their portfolio, and 149 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY removed 22,856 shares (-27.8%) from their portfolio in Q1 2026, for an estimated $50,213,717
- COOKE & BIELER LP removed 19,737 shares (-18.8%) from their portfolio in Q2 2026, for an estimated $40,922,498
- BOUSSARD & GAVAUDAN INVESTMENT MANAGEMENT LLP added 13,975 shares (+inf%) to their portfolio in Q1 2026, for an estimated $30,702,516
- SOUTHEASTERN ASSET MANAGEMENT INC/TN/ removed 12,788 shares (-40.4%) from their portfolio in Q1 2026, for an estimated $28,094,724
- JANE STREET GROUP, LLC added 12,101 shares (+708.9%) to their portfolio in Q1 2026, for an estimated $26,585,412
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 10,833 shares (+8206.8%) to their portfolio in Q1 2026, for an estimated $23,799,667
- GOLDMAN SACHS GROUP INC added 10,523 shares (+200.1%) to their portfolio in Q1 2026, for an estimated $23,118,610
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
