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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 June 30, 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: J. Brian Palmer Title: Chief Accounting Officer Phone: (603) 640-2228 Signature, Place, and Date of Signing: /s/ J. Brian Palmer Hanover, New Hampshire August 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: $151,905,882 ------------- 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. --------- ---------------------------------- 2. 028-00470 CGU Asset Management, Inc. --------- -------------------------- WHITE MOUNTAINS INSURANCE GROUP, Ltd. FORM 13F Information Table - June 30, 2001 * 1 = Folksamerica Holding Company, Inc. (FORM 13F filed separately) 2 = CGU Asset Management Inc. (FORM 13F filed separately) 3 = White Mountains Insurance Group, Ltd.
----------------------------------------------------------------------------------------------------------------------- Title CUSIP Market Name of Issuer of class Number Value ----------------------------------------------------------------------------------------------------------------------- 1 Alleghany Corp Del COM 017175-10-0 583,828 2 Ambac Finl Group Inc. COM 023139-10-8 765,039 3 Amgen Inc. COM 031162-10-0 4,551,000 4 Aon Corp. COM 037389-10-3 4,628,400 5 Archstone Cmntys Tr SH BEN INT 039581-10-3 4,416,114 6 Arden Rlty Inc COM 039793-10-4 2,536,500 7 Avalonbay Cmntys Inc COM 053484-10-1 2,407,625 8 Berkley W.R. Corp COM 084423-10-2 244,378 9 Berkshire Hathaway, Inc. Del CL B 084670-20-7 1,200,600 10 Bisys Group Inc. COM 055472-10-4 298,540 11 Boston Properties Inc COM 101121-10-1 2,249,500 12 Bristol Myers Squibb Co. COM 110122-10-8 2,510,400 13 Carnival Corp. COM 143658-10-2 601,720 14 Chateau Cmntys Inc COM 161726-10-4 455,115 15 Cisco Sys Inc COM 17275R-10-2 2,211,300 16 Citigroup Inc. COM 172967-10-1 792,600 17 Coca Cola Corp COM 191216-10-0 1,305,000 18 Criimi Mae Inc COM 226603-10-8 27,715 19 Dime Bancorp Inc New COM 25429Q-10-2 273,788 20 E M C Corp Mass COM 268648-10-2 2,486,250 21 Elan PLC ADR 284131-20-8 4,697,000 22 Fidelity Natl Finl, Inc. COM 316326-10-7 1,952,578 23 First Data Corp. COM 319963-10-4 736,808 24 First Union Corp COM 337358-10-5 277,424 25 Gables Residential Tr SH BEN INT 362418-10-5 596,005 26 Gillette Co COM 375766-10-2 90,449 27 HCC Ins. Hldgs Inc. COM 404132-10-2 393,960 28 Huntington Bancshares Inc. COM 446150-10-4 46,107 29 IMS Health Inc COM 449934-10-8 575,700 30 Intel Corp. COM 458140-10-0 2,632,500 31 International Speedway Corp CL A 460335-20-1 250,320 32 Intuit COM 461202-10-3 291,927 33 John Hancock Financial COM 41014S-10-6 163,053 34 Johnson & Johnson COM 478160-10-4 4,800,000 35 Lafarge Corp. COM 505862-10-2 343,813 36 Level 3 Communications Inc. COM 52729N-10-0 111,996 37 Liberty Financial Cos. Inc COM 530512-10-2 223,905 38 London Pac Group Ltd. SPONSORED ADR 542073-10-1 119,364 39 Mack-Cali Rlty Corp COM 554489-10-4 3,132,800 40 Microsoft Corp COM 594918-10-4 2,701,000 41 J P Morgan Chase & Co Inc. COM 46625H-10-0 496,398 42 Pacific Century Finl Corp COM 694058-10-8 421,667 43 Partner Re Ltd. COM G6852T-10-5 686,960 44 Paula Finl Del COM 703588-10-3 800,000 45 Pepsico Inc. COM 713448-10-8 1,166,880 46 Providian Finl Corp COM 74406A-10-2 651,792 47 Public Storage Inc. COM 74460D-10-9 2,045,850 48 Qualcomm, Inc. COM 747525-10-3 1,462,000 49 Reckson Associates Realty Corp COM 75621K-10-6 2,654,200 50 Renaissance Re Hldgs Ltd COM G7496G-10-3 910,815 51 Schering-Plough Corp. COM 806605-10-1 2,707,128 52 Security Cap US Rlty SPONSORED ADR 814136-20-6 3,738,000 53 Security Cap Group Inc CL B 81413P-20-4 1,498,000 54 Shurgard Storage Ctrs Inc. COM 82567D-10-4 1,953,125 55 Spieker Pptys Inc. COM 848497-10-3 3,171,355 56 Summit Pptys Inc COM 866239-10-6 3,691,808 57 Trizec Hahn Corp SUB VTG 896938-10-7 927,690 58 Tyco Intl Ltd. New COM 902124-10-6 1,090,200 59 UICI COM 902737-10-5 383,010 60 United Fire &Cas Co. COM 910331-10-7 59,190,370 61 UnumProvident Corp. COM 91529Y-10-6 217,774 62 Waddell & Reed Financial Inc. CL A 930059-10-0 528,003 63 Wal-Mart Stores, Inc. COM 931142-10-3 2,576,640 64 XL Capital Ltd. CL A G98255-10-5 254,100 ----------------- $ 151,905,882 ----------------------------------------------------------------------------------------------------------------------------- Voting Authority (Shares) Amount and Investment ---------------------------------- Name of Issuer Type of Security Discretion Managers * Sole Shared None ----------------------------------------------------------------------------------------------------------------------------- 1 Alleghany Corp Del 2,876 SH DEFINED 1,3 2,876 2 Ambac Finl Group Inc. 13,145 SH DEFINED 1,3 13,145 3 Amgen Inc. 75,000 SH DEFINED 1,3 75,000 4 Aon Corp. 132,240 SH DEFINED 1,3 132,240 5 Archstone Cmntys Tr 171,300 SH DEFINED 1,3 171,300 6 Arden Rlty Inc 95,000 SH DEFINED 1,3 95,000 7 Avalonbay Cmntys Inc 51,500 SH DEFINED 1,3 51,500 8 Berkley W.R. Corp 5,900 SH DEFINED 1,3 5,900 9 Berkshire Hathaway, Inc. Del 522 SH DEFINED 1,3 522 10 Bisys Group Inc. 5,060 SH DEFINED 1,3 5,060 11 Boston Properties Inc 55,000 SH DEFINED 1,3 55,000 12 Bristol Myers Squibb Co. 42,000 SH DEFINED 1,3 48,000 13 Carnival Corp. 19,600 SH DEFINED 1,3 19,600 14 Chateau Cmntys Inc 15,000 SH DEFINED 1,3 15,000 15 Cisco Sys Inc 121,500 SH DEFINED 1,3 121,500 16 Citigroup Inc. 15,000 SH DEFINED 1,3 15,000 17 Coca Cola Corp 29,000 SH DEFINED 1,3 29,000 18 Criimi Mae Inc 44,701 SH DEFINED 1,3 44,701 19 Dime Bancorp Inc New 7,350 SH DEFINED 1,3 7,350 20 E M C Corp Mass 85,000 SH DEFINED 1,3 85,000 21 Elan PLC 77,000 SH DEFINED 1,3 77,000 22 Fidelity Natl Finl, Inc. 79,470 SH DEFINED 1,3 79,470 23 First Data Corp. 11,450 SH DEFINED 1,3 11,450 24 First Union Corp 7,940 SH DEFINED 1,3 7,940 25 Gables Residential Tr 19,900 SH DEFINED 1,3 19,900 26 Gillette Co 3,120 SH DEFINED 1,3 3,120 27 HCC Ins. Hldgs Inc. 16,080 SH DEFINED 1,3 16,080 28 Huntington Bancshares Inc. 2,820 SH DEFINED 1,3 2,820 29 IMS Health Inc 20,200 SH DEFINED 1,3 20,200 30 Intel Corp. 90,000 SH DEFINED 1,3 90,000 31 International Speedway Corp 5,960 SH DEFINED 1,3 5,960 32 Intuit 7,300 SH DEFINED 1,3 7,300 33 John Hancock Financial 4,050 SH DEFINED 1,3 4,050 34 Johnson & Johnson 96,000 SH DEFINED 1,3 96,000 35 Lafarge Corp. 10,260 SH DEFINED 1,3 10,260 36 Level 3 Communications Inc. 20,400 SH DEFINED 1,3 20,400 37 Liberty Financial Cos. Inc 6,900 SH DEFINED 1,3 6,900 38 London Pac Group Ltd. 20,300 SH DEFINED 1,3 20,300 39 Mack-Cali Rlty Corp 110,000 SH DEFINED 1,3 110,000 40 Microsoft Corp 37,000 SH DEFINED 1,3 37,000 41 J P Morgan Chase & Co Inc. 11,130 SH DEFINED 1,3 11,130 42 Pacific Century Finl Corp 16,350 SH DEFINED 1,3 16,350 43 Partner Re Ltd. 12,400 SH DEFINED 1,3 12,400 44 Paula Finl Del 423,712 SH DEFINED 2,3 423,712 45 Pepsico Inc. 26,400 SH DEFINED 1,3 26,400 46 Providian Finl Corp 11,010 SH DEFINED 1,3 11,010 47 Public Storage Inc. 69,000 SH DEFINED 1,3 69,000 48 Qualcomm, Inc. 25,000 SH DEFINED 1,3 25,000 49 Reckson Associates Realty Corp 115,400 SH DEFINED 1,3 115,400 50 Renaissance Re Hldgs Ltd 12,300 SH DEFINED 1,3 12,300 51 Schering-Plough Corp. 74,700 SH DEFINED 1,3 74,700 52 Security Cap US Rlty 178,000 SH DEFINED 1,3 178,000 53 Security Cap Group Inc 70,000 SH DEFINED 1,3 70,000 54 Shurgard Storage Ctrs Inc. 62,500 SH DEFINED 1,3 62,500 55 Spieker Pptys Inc. 52,900 SH DEFINED 1,3 52,900 56 Summit Pptys Inc 137,600 SH DEFINED 1,3 137,600 57 Trizec Hahn Corp 51,000 SH DEFINED 1,3 51,000 58 Tyco Intl Ltd. New 20,000 SH DEFINED 1,3 20,000 59 UICI 30,040 SH DEFINED 1,3 30,040 60 United Fire &Cas Co. 2,025,680 SH DEFINED 2,3 2,025,680 61 UnumProvident Corp. 6,780 SH DEFINED 1,3 6,780 62 Waddell & Reed Financial Inc. 16,630 SH DEFINED 1,3 16,630 63 Wal-Mart Stores, Inc. 52,800 SH DEFINED 1,3 52,800 64 XL Capital Ltd. 3,095 SH DEFINED 1,3 3,095