UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER Report for the Calendar Year or Quarter Ended: September 30, 1999 (PLEASE READ INSTRUCTIONS BEFORE PREPARING FORM.) If amended report, check here: / / White Mountains Insurance Group, Inc. (formerly known as Fund American Enterprises Holdings, Inc.) - ------------------------------------------------------------------------------- Name of Institutional Investment Manager 80 South Main Street Hanover NH 03755-2053 - ------------------------------------------------------------------------------- Business Address (Street) (City) (State) (Zip) Michael S. Paquette (603) 640-2205 Senior Vice President and Controller - ------------------------------------------------------------------------------- Name, Phone No., and Title of Person Duly Authorized to Submit This Report. ATTENTION INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL CRIMINAL VIOLATIONS. SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a). The institutional investment manager submitting this Form and its attachments are the person by whom it is signed represent hereby that all information contained therein is true, correct and complete. It is understood that all required items, statements and schedules are considered integral parts of this Form and that the submission of any amendment represents that all unamended items, statements and schedules remain true, correct and complete as previously submitted. Pursuant to the requirements of Securities Exchange Act of 1934, the undersigned institutional investment manager has caused this report to be signed on its behalf in the City of Hanover and State of New Hampshire on the 11th day of November, 1999. White Mountains Insurance Group, Inc. ------------------------------------------ (Name of Institutional Investment Manager) ------------------------------------------ (Manual Signature of Person Duly Authorized to Submit This Report) Name and 13F file numbers of ALL Institutional Investment Managers with respect to which this schedule is filled (other than the one filing this report): (LIST IN ALPHABETICAL ORDER). 13F File Numbers will be assigned to Institutional Investment Managers after they file their first report. Name: 13F File No. Name: 13F File No. - ---------------------------------------- ------------------ --------------------------------------------- ------------------ 1. Folksamerica Holding Company, Inc. 5. (see attached report for security listings) - ---------------------------------------- ------------------ --------------------------------------------- ------------------ 2. White Mountains Properties, Inc. 6. - ---------------------------------------- ------------------ --------------------------------------------- ------------------ 3. White Mountains Services Corp. 7. - ---------------------------------------- ------------------ --------------------------------------------- ------------------ 4. 8. - ---------------------------------------- ------------------ --------------------------------------------- ------------------
WHITE MOUNTAINS INSURANCE GROUP, INC. FORM 13F for September 30, 1999 Investment Discretion Title CUSIP Fair Market Number of --------------------- Name of Issuer of class Number Value Shares Sole Shared Other Managers* - ------------------------------------------ -------------- --------- ----------- --------- ---- ------ ----- -------- ACE Limited ORD G0070K103 3,234,537 190,969 x 3 AGL Resources, Inc. COM 001204106 731,250 45,000 x 2 AMBAC Financial Group, Inc. COM 023199108 367,156 7,750 x** 1 America Online, Inc. COM 02364J104 8,325,000 80,000 x** 1 America Online, Inc. COM 02364J104 728,438 7,000 x 2 American International Group, Inc. COM 026674107 1,630,078 18,750 x** 1 Archstone Communities PFD SER A CV 039581202 26,825 1,000 x 2 BISYS Group, Inc. COM 055472104 933,434 19,900 x** 1 BRE Properties, Inc. CL A 05564E106 574,500 24,000 x 2 Berkshire Hathaway Inc. CL A 084670106 5,500,000 100 x 2 Berkshire Hathaway Inc. CL B 084670207 467,712 252 x** 1 (H & R) Block, Inc. COM 089671105 938,250 21,600 x** 1 Bristol Meyers Squibb Co. COM 110122108 6,075,000 90,000 x** 1 Cisco Systems, Inc. COM 17275R102 342,613 5,000 x** 1 Citigroup, Inc. COM 172967101 4,597,500 108,125 x** 1 Coca Cola Co. COM 191216100 494,250 9,000 x 2 Dell Computer COM 247025109 11,707,500 280,000 x** 1 Walt Disney Co. COM 254687106 5,226,000 201,000 x** 1 Walt Disney Co. COM 254687106 184,600 7,100 x 2 Donaldson Lufkin & Jenrette COM 257661106 2,373,750 60,000 x** 1 EMC Corporation COM 268648102 4,282,500 60,000 x** 1 Equity Residential Properties SH BEN INT 29476L107 729,909 17,225 x 2 Federal Home Loan Mortgage Corp. COM 313400301 790,400 15,200 x** 1 Federal National Mortgage Association COM 313586108 6,843,975 101,200 x** 1 Federal National Mortgage Association COM 313586108 858,819 13,700 x 2 Financial Security Assurance Holdings, Ltd. COM 31769P100 311,200,462 6,020,807 x 3 First Data Corporation COM 319963104 502,369 11,450 x** 1 First Industrial Realty Trust COM 32054K103 556,875 22,500 x 2 General Electric Co. COM 369604103 12,604,750 108,000 x** 1 General Electric Co. COM 369604103 948,500 8,000 x 2 Gilette Company COM 375766102 3,563,438 105,000 x** 1 Hershey Foods Corp. COM 427866108 399,238 8,200 x** 1 Highwoods Properties, Inc. COM 431284106 491,625 19,000 x 2 Home Depot, Inc. COM 437076102 2,031,800 29,600 x 2 Indy Mac Mortgage Holdings, Inc. COM 44977L100 288,500 19,100 x** 1 Intel Corp. COM 458140100 9,140,438 123,000 x** 1 Intel Corp. COM 458140100 163,488 2,200 x 2 Interstate Bakeries Corp. COM 46072H108 2,300,000 100,000 x** 1 Intuit, Inc. COM 461202103 1,078,172 12,300 x** 1 Johnson & Johnson, Inc. COM 478160104 780,938 8,500 x 2 Laclede Gas Co. COM 505588103 193,375 8,500 x 2 LaSalle Re Holdings Ltd. ORD G5383Q101 252,525 18,200 x** 1 Eli Lilly & Co. COM 532457108 4,236,375 66,000 x** 1 Loral Space & Communication COM G56462107 1,976,563 115,000 x** 1 MCN Energy Group, Inc. COM 55267J100 206,250 12,000 x 2 Marsh & McLennan Cos., Inc. COM 571748102 561,700 8,200 x** 1 Meditrust Corp. PAIRED CTF NEW 585011306 208,386 24,516 x 2 Merry Land & Investment Company, Inc. COM 590438107 8,938 1,625 x 2 Microsoft Corp. COM 594918104 8,150,625 90,000 x** 1 News Corp. Ltd. ADR NEW 652487703 420,875 14,800 x** 1 Nordstrom, Inc. COM 655664100 2,700,000 100,000 x** 1 PartnerRe Limited COM G6852T105 490,800 12,400 x** 1 Pfizer, Inc. COM 717081103 2,152,500 60,000 x** 1 Philip Morris Companies COM 718154107 2,758,931 80,700 x** 1 Voting Authority (Shares) - ------------------------- Sole Shared None - ---- --------- ---- 190,969 45,000 7,750 80,000 7,000 18,750 1,000 19,900 24,000 100 252 21,600 90,000 5,000 103,125 9,000 280,000 201,000 7,100 60,000 60,000 17,225 15,200 101,200 13,700 6,020,807 11,450 22,500 108,000 8,000 105,000 8,200 19,000 29,600 19,100 123,000 2,200 100,000 12,300 8,500 8,500 18,200 66,000 115,000 12,000 8,200 24,516 1,625 90,000 14,800 100,000 12,400 60,000 80,700 Page 1
WHITE MOUNTAINS INSURANCE GROUP, INC. FORM 13F for September 30, 1999 Investment Discretion Title CUSIP Fair Market Number of --------------------- Name of Issuer of class Number Value Shares Sole Shared Other Managers* - ------------------------------------------ -------------- --------- ----------- --------- ---- ------ ----- -------- Philip Morris Companies COM 718154107 341,675 10,000 X 2 Safeskin Corp. COM 786454108 517,781 83,000 X** 1 Safeskin Corp. COM 786454108 212,044 25,800 X 2 San Juan Basin Royalty Trust UNIT BEN INT 798241105 8,111,750 914,000 X 2 Sara Lee Corp COM 809111103 336,600 14,000 X 2 Schering Plough Corp. COM 806605101 5,902,483 135,000 X** 1 Schering Plough Corp. COM 806605101 641,288 14,700 X 2 Shurgard Storage Centers, Inc. COM 82567D104 611,325 24,700 X 2 Superior National Insurance Group, Inc. COM 868224106 545,625 38,800 X** 1 Terra Nova (Bermuda) Holdings Ltd. ORD CLA G87615103 577,111 18,070 X 1 UnumProvident Corp. COM 91529Y106 94,818 3,221 X** 1 Waddell & Reed Financial, Inc. CLA 930059100 563,563 25,400 X** 1 WalMart Stores, Inc. COM 931142103 5,564,818 117,000 X** 1 WalMart Stores, Inc. COM 931142103 133,175 2,800 X 2 Wells Fargo & Co. COM 949746101 2,773,750 70,000 X** 1 XL Capital Ltd. CLA G98255105 675,875 15,015 X** 1 ------------ GRAND TOTAL $465,453,698 ============ Voting Authority (Shares) ------------------------------------- Name of Issuer Sole Shared None - ------------------------------------------ ---------- ---------- ---------- Philip Morris Companies 10,000 Safeskin Corp. 69,000 Safeskin Corp. 25,600 San Juan Basin Royalty Trust 914,000 Sara Lee Corp 14,400 Schering Plough Corp. 135,300 Schering Plough Corp. 14,700 Shurgard Storage Centers, Inc. 24,700 Superior National Insurance Group, Inc. 38,800 Terra Nova (Bermuda) Holdings Ltd. 18,070 UnumProvident Corp. 3,221 Waddell & Reed Financial, Inc. 25,400 WalMart Stores, Inc. 117,000 WalMart Stores, Inc. 2,800 Wells Fargo & Co. 70,000 XL Capital Ltd. 15,014 *Managers - --------- 1 = Folksamerica Holding Company, Inc. (FORM 13F filed separately) 2 = White Mountains Properties, Inc. (FORM 13F filed separately) 3 = White Mountains Services Corporation (FORM 13F filed separately) ** Investment discretion shared with indirect wholly owned insurance subsidiaries Page 2