UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE 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 March 31, 2001. -------- Check here if Amendment; |_| Amendment Number: This Amendment (Check only one): |_| is a restatement. |_| adds new holdings entries. Institutional Investment Manager Filing this Report: Name: White Mountains Insurance Group, Ltd. Address of Principal Executive Office: 80 South Main Street Hanover, New Hampshire 03755-2053 U.S.A. Form 13F File Number: 028-01681 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained therein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Michael S. Paquette Title: Senior Vice President and Controller Phone: (603) 640-2205 Signature, Place, and Date of Signing: /s/ Michael S. Paquette Hanover, New Hampshire May 14, 2001 - -------------------------- ---------------------- ------------ [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name - - None
FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 ------------- Form 13F Information Table Entry Total: 64 ITEMS ------------- Form 13F Information Table Value Total: $155,760,884 ------------- List of Other Included Managers: Provide a numbered list of the names and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1. 028-07388 FOLKSAMERICA HOLDING COMPANY, INC. --------- ----------------------------------
WHITE MOUNTAINS INSURANCE GROUP, Ltd. FORM 13F Information Table - March 31, 2001 --------------------------------------------------------------------------------------------------------- Title CUSIP Market Amount and Name of Issuer of class Number Value Type of Security --------------------------------------------------------------------------------------------------------- 1 Alleghany Corp Del COM 017175-10-0 575,200 2,876 SH 2 Ambac Finl Group Inc. COM 023139-10-8 737,374 11,625 SH 3 American Intl Group Inc COM 026874-10-7 3,471,563 43,125 SH 4 Amgen Inc. COM 031162-10-0 4,514,063 75,000 SH 5 Aon Corp. COM 037389-10-3 6,140,080 172,960 SH 6 Archstone Cmntys Tr SH BEN INT 039581-10-3 2,614,980 106,300 SH 7 Arden Rlty Inc COM 039793-10-4 2,242,000 95,000 SH 8 Avalonbay Cmntys Inc COM 053484-10-1 2,359,215 51,500 SH 9 Berkley W.R. Corp COM 084423-10-2 265,869 5,900 SH 10 Berkshire Hathaway, Inc. Del CL A 084670-10-8 31,743,250 485 SH 11 Berkshire Hathaway, Inc. Del CL B 084670-20-7 21,368,320 9,820 SH 12 Berkshire Hathaway, Inc. Del CL B 084670-20-7 1,135,872 522 SH 13 Bisys Group Inc. COM 055472-10-4 270,394 5,060 SH 14 BK Of Bermuda Ords ORD G07644-10-0 427,319 6,930 SH 15 Boston Properties Inc COM 101121-10-1 2,114,750 55,000 SH 16 Bristol Myers Squibb Co. COM 110122-10-8 2,851,200 48,000 SH 17 Carnival Corp. COM 143658-10-2 542,332 19,600 SH 18 Cisco Sys Inc COM 17275R-10-2 1,921,219 121,500 SH 19 Citigroup Inc. COM 172967-10-1 4,797,837 106,666 SH 20 Coca Cola Co COM 191216-10-0 1,309,640 29,000 SH 21 Countrywide Cr Inds Del COM 222372-10-4 222,075 4,500 SH 22 Dime Bancorp Inc New COM 25429Q-10-2 317,675 9,700 SH 23 E M C Corp Mass COM 268648-10-2 3,234,000 110,000 SH 24 Elan PLC ADR 284131-20-8 4,023,250 77,000 SH 25 Fidelity Natl Finl, Inc. COM 316326-10-7 2,179,078 81,400 SH 26 First Data Corp. COM 319963-10-4 683,680 11,450 SH 27 Gables Residential Tr SH BEN INT 362418-10-5 577,299 19,900 SH 28 General Elec Co. COM 369604-10-3 4,772,040 114,000 SH 29 HCC Ins. Hldgs Inc. COM 404132-10-2 425,316 16,080 SH 30 Huntington Bancshares Inc. COM 446150-10-4 40,185 2,820 SH 31 IMS Health Inc COM 449934-10-8 502,980 20,200 SH 32 Intel Corp. COM 458140-10-0 2,368,125 90,000 SH 33 International Speedway Corp CL A 460335-20-1 220,893 5,960 SH 34 Intuit Inc. COM 461202-10-3 535,575 19,300 SH 35 John Hancock Financial COM 41014S-10-6 358,354 9,320 SH 36 Johnson & Johnson COM 478160-10-4 4,198,560 48,000 SH 37 Lafarge Corp. COM 505862-10-2 311,288 10,260 SH 38 Level 3 Communications Inc. COM 52729N-10-0 177,225 10,200 SH 39 Liberty Financial Cos. Inc COM 530512-10-2 287,040 6,900 SH 40 London Pac Group Ltd. SPONSORED ADR 542073-10-1 100,395 20,700 SH 41 Mack-Cali Rlty Corp COM 554489-10-4 2,970,000 110,000 SH 42 Microsoft Corp. COM 594918-10-4 2,023,438 37,000 SH 43 Morgan J P & Co Inc. COM 616880-10-0 499,737 11,130 SH 44 Pacific Centy Finl Corp. COM 694058-10-8 310,650 16,350 SH 45 Partner Re Ltd. COM G6852T-10-5 610,948 12,400 SH 46 Pepsico Inc. COM 713448-10-8 1,160,280 26,400 SH 47 Pfizer Inc. COM 717081-10-3 2,457,000 60,000 SH 48 Post Pptys Inc COM 737464-10-7 2,492,000 71,200 SH 49 Providian Finl Corp COM 74406A-10-2 269,775 5,500 SH 50 Public Storage Inc. COM 74460D-10-9 1,548,750 59,000 SH 51 Qualcomm Inc. COM 747525-10-3 1,415,625 25,000 SH 52 Reckson Associates Realty Corp COM 75621K-10-6 2,573,420 115,400 SH 53 Renaissance Re Hldgs Ltd COM G7496G-10-3 861,123 12,300 SH 54 Schering-Plough Corp. COM 806605-10-1 2,728,791 74,700 SH 55 Security Cap US Rlty SPONSORED ADR 814136-20-6 3,871,500 178,000 SH 56 Shurgard Storage Ctrs Inc. COM 82567D-10-4 1,650,000 62,500 SH 57 Speiker Pptys Inc. COM 848497-10-3 3,400,700 62,000 SH 58 Summit Pptys Inc COM 866239-10-6 2,636,200 107,600 SH 59 Trizec Hahn Corp SUB VTG 896938-10-7 1,204,000 80,000 SH 60 UICI COM 902737-10-5 263,751 30,040 SH 61 UnumProvident Corp. COM 91529Y-10-6 198,112 6,780 SH 62 Waddell & Reed Financial, Inc. CL A 930059-10-0 471,461 16,630 SH 63 Wal-Mart Stores, Inc. COM 931142-10-3 2,666,400 52,800 SH 64 XL Capital Ltd. CL A G98255-10-5 539,717 7,095 SH ------------------------------- $ 155,760,884 2,894,384 ------------------------------------------------------------------------------------------------------------- Voting Authority (Shares) Investment ------------------------------------------- Name of Issuer Discretion Managers * Sole Shared None ------------------------------------------------------------------------------------------------------------- 1 Alleghany Corp Del DEFINED 1,2 2,876 2 Ambac Finl Group Inc. DEFINED 1,2 11,625 3 American Intl Group Inc DEFINED 1,2 43,125 4 Amgen Inc. DEFINED 1,2 75,000 5 Aon Corp. DEFINED 1,2 172,960 6 Archstone Cmntys Tr DEFINED 1,2 106,300 7 Arden Rlty Inc DEFINED 1,2 95,000 8 Avalonbay Cmntys Inc DEFINED 1,2 51,500 9 Berkley W.R. Corp DEFINED 1,2 5,900 10 Berkshire Hathaway, Inc. Del SOLE 2 485 11 Berkshire Hathaway, Inc. Del SOLE 2 9,820 12 Berkshire Hathaway, Inc. Del DEFINED 1,2 522 13 Bisys Group Inc. DEFINED 1,2 5,060 14 BK Of Bermuda Ords DEFINED 1,2 6,930 15 Boston Properties Inc DEFINED 1,2 55,000 16 Bristol Myers Squibb Co. DEFINED 1,2 48,000 17 Carnival Corp. DEFINED 1,2 19,600 18 Cisco Sys Inc DEFINED 1,2 121,500 19 Citigroup Inc. DEFINED 1,2 106,666 20 Coca Cola Co DEFINED 1,2 29,000 21 Countrywide Cr Inds Del DEFINED 1,2 4,500 22 Dime Bancorp Inc New DEFINED 1,2 9,700 23 E M C Corp Mass DEFINED 1,2 110,000 24 Elan PLC DEFINED 1,2 77,000 25 Fidelity Natl Finl, Inc. DEFINED 1,2 81,400 26 First Data Corp. DEFINED 1,2 11,450 27 Gables Residential Tr DEFINED 1,2 19,900 28 General Elec Co. DEFINED 1,2 114,000 29 HCC Ins. Hldgs Inc. DEFINED 1,2 16,080 30 Huntington Bancshares Inc. DEFINED 1,2 2,820 31 IMS Health Inc DEFINED 1,2 20,200 32 Intel Corp. DEFINED 1,2 90,000 33 International Speedway Corp DEFINED 1,2 5,960 34 Intuit Inc. DEFINED 1,2 19,300 35 John Hancock Financial DEFINED 1,2 9,320 36 Johnson & Johnson DEFINED 1,2 48,000 37 Lafarge Corp. DEFINED 1,2 10,260 38 Level 3 Communications Inc. DEFINED 1,2 10,200 39 Liberty Financial Cos. Inc DEFINED 1,2 6,900 40 London Pac Group Ltd. DEFINED 1,2 20,700 41 Mack-Cali Rlty Corp DEFINED 1,2 110,000 42 Microsoft Corp. DEFINED 1,2 37,000 43 Morgan J P & Co Inc. DEFINED 1,2 11,130 44 Pacific Centy Finl Corp. DEFINED 1,2 16,350 45 Partner Re Ltd. DEFINED 1,2 12,400 46 Pepsico Inc. DEFINED 1,2 26,400 47 Pfizer Inc. DEFINED 1,2 60,000 48 Post Pptys Inc DEFINED 1,2 71,200 49 Providian Finl Corp DEFINED 1,2 5,500 50 Public Storage Inc. DEFINED 1,2 59,000 51 Qualcomm Inc. DEFINED 1,2 25,000 52 Reckson Associates Realty Co DEFINED 1,2 115,400 53 Renaissance Re Hldgs Ltd DEFINED 1,2 12,300 54 Schering-Plough Corp. DEFINED 1,2 74,700 55 Security Cap US Rlty DEFINED 1,2 178,000 56 Shurgard Storage Ctrs Inc. DEFINED 1,2 62,500 57 Speiker Pptys Inc. DEFINED 1,2 62,000 58 Summit Pptys Inc DEFINED 1,2 107,600 59 Trizec Hahn Corp DEFINED 1,2 80,000 60 UICI DEFINED 1,2 30,040 61 UnumProvident Corp. DEFINED 1,2 6,780 62 Waddell & Reed Financial, In DEFINED 1,2 16,630 63 Wal-Mart Stores, Inc. DEFINED 1,2 52,800 64 XL Capital Ltd. DEFINED 1,2 7,095 * 1 = Folksamerica Holding Company, Inc. 2 = White Mountains Insurance Group, Ltd.