SEC Filing | White Mountains Insurance Group

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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 SEPTEMBER 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 NOVEMBER 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: 2 ----------------- Form 13F Information Table Entry Total: 71 ITEMS ----------------- Form 13F Information Table Value Total: $165,794,137 ----------------- 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 - SEPTEMBER 30, 2001 -------------------------------------------------------------------------------------------------------------------- Title CUSIP Market Name of Issuer of Class Number Value -------------------------------------------------------------------------------------------------------------------- 1 ALLEGHANY CORP DEL COM 017175-10-0 572,324 2 AMBAC FINL GROUP INC COM 023139-10-8 719,163 3 AMERADA HESS CORP COM 023551-10-4 4,445,000 4 AMERICAN EXPRESS CO COM 025816-10-9 157,796 5 AMGEN INC COM 031162-10-0 4,407,750 6 AON CORP COM 037389-10-3 5,554,080 7 ARCHSTONE CMNTYS TR SH BEN INT 039581-10-3 4,470,930 8 ARDEN RLTY INC COM 039793-10-4 2,429,150 9 AVALONBAY CMNTYS INC COM 053484-10-1 2,459,125 10 BERKLEY W R CORP COM 084423-10-2 283,200 11 BERKSHIRE HATHAWAY INC DEL CL B 084670-20-7 1,216,260 12 BISYS GROUP INC COM 055472-10-4 268,281 13 BOSTON PROPERTIES INC COM 101121-10-1 2,669,100 14 BRISTOL MYERS SQUIBB CO COM 110122-10-8 2,666,880 15 CIGNA CORP COM 125509-10-9 124,425 16 CISCO SYS INC COM 17275R-10-2 1,479,870 17 CITIGROUP INC COM 172967-10-1 1,012,500 18 COCA COLA CO COM 191216-10-0 1,358,650 19 CRIIMI MAE INC COM 226603-10-8 10,369 20 CRIIMI MAE INC PFD B CONV $25 226603-20-7 58,787 21 CULLEN FROST BANKERS INC COM 229899-10-9 61,042 22 DIME BANCORP INC NEW COM 25429Q-10-2 289,002 23 ELAN PLC ADR 284131-20-8 3,730,650 24 E M C CORP MASS COM 268648-10-2 998,750 25 EQUITY OFFICE PROPERTIES TRUST COM 294741-10-3 3,652,160 26 FIRST DATA CORP COM 319963-10-4 667,077 27 FORTUNE BRANDS INC COM 349631-10-1 2,345,000 28 GABLES RESIDENTIAL TR SH BEN INT 362418-10-5 610,134 29 GILLETTE CO COM 375766-10-2 92,976 30 GREAT LAKES CHEM CORP COM 390568-10-3 3,094,000 31 HARLEYSVILLE GROUP INC COM 412824-10-4 12,955 32 HCC INS HLDGS INC COM 404132-10-2 422,904 33 IHOP CORP COM 449623-10-7 211,172 34 IMS HEALTH INC COM 449934-10-8 506,010 35 INTEL CORP COM 458140-10-0 1,839,600 36 INTERNATIONAL SPEEDWAY CORP CL A 460335-20-1 207,587 37 INTUIT COM 461202-10-3 261,340 38 J P MORGAN CHASE & CO COM 46625H-10-0 380,090 39 JOHNSON & JOHNSON COM 478160-10-4 5,318,400 40 LAFARGE NORTH AMERICA INC COM 505862-10-2 342,684 41 LIBERTY FINL COS INC COM 530512-10-2 219,075 42 MACK CALI RLTY CORP COM 554489-10-4 3,410,000 43 MERIDTH CORP COM 589433-10-1 3,052,350 44 MICROSOFT CORP COM 594918-10-4 1,893,290 45 OVERSEAS SHIPHOLDING GROUP INC COM 690368-10-5 1,540,000 46 PARTNERRE LTD COM G6852T-10-5 706,500 47 PAULA FINL DEL COM 703588-10-3 1,088,940 48 PEPSICO INC COM 713448-10-8 1,280,400 49 PHOENIX COS INC NEW COM 71902E-10-9 385,815 50 PUBLIC STORAGE INC COM 74460D-10-9 2,304,600 51 QUALCOMM INC COM 747525-10-3 1,188,500 52 R H DONNELLEY CORP COM NEW 74955W-30-7 296,201 53 RECKSON ASSOCS RLTY CORP COM 75621K-10-6 3,752,910 54 RENAISSANCE RE HLDGS LTD COM G7496G-10-3 1,093,593 55 RENT A CTR INC NEW COM 76009N-10-0 97,418 56 RYDER SYS INC COM 783549-10-8 4,697,650 57 SCHERING PLOUGH CORP COM 806605-10-1 2,771,370 58 SECURITY CAP GROUP IINC CL B 81413P-20-4 6,361,400 59 SHURGARD STORAGE CTRS INC COM 82567D-10-4 1,883,750 60 SUMMIT PPTYS INC COM 866239-10-6 3,612,000 61 TRIZED HAHN CORP SUB VTG 896938-10-7 1,224,680 62 TYCO INTL LTD NEW COM 902124-10-6 910,000 63 UICI COM 902737-10-5 409,445 64 UNISOURCE ENERGY CORP COM 909205-10-6 3,808,000 65 UNITED FIRE & CAS CO COM 910331-10-7 51,999,206 66 UNUMPROVIDENT CORP COM 91529Y-10-6 267,398 67 WACHOVIA CORP 2ND NEW COM 929903-10-2 424,390 68 WADDELL & REED FINL INC CL A 930059-10-0 432,380 69 WAL MART STORES INC COM 931142-10-3 2,613,600 70 XL CAP LTD CL A G98255-10-5 528,905 71 ZIMMER HLDGS INC COM 98956P-10-2 133,200 ----------------------- $165,794,137 ======================= ----------------------------------------------------------------------------------------------------- Amount and Investment Name of Issuer Type of Security Discretion Managers * ----------------------------------------------------------------------------------------------------- 1 ALLEGHANY CORP DEL 2,876 SH DEFINED 1,3 2 AMBAC FINL GROUP INC 13,145 SH DEFINED 1,3 3 AMERADA HESS CORP 70,000 SH DEFINED 2,3 4 AMERICAN EXPRESS CO 5,430 SH DEFINED 1,3 5 AMGEN INC 75,000 SH DEFINED 1,3 6 AON CORP 132,240 SH DEFINED 1,3 7 ARCHSTONE CMNTYS TR 171,300 SH DEFINED 1,3 8 ARDEN RLTY INC 95,000 SH DEFINED 1,3 9 AVALONBAY CMNTYS INC 51,500 SH DEFINED 1,3 10 BERKLEY W R CORP 5,900 SH DEFINED 1,3 11 BERKSHIRE HATHAWAY INC DEL 522 SH DEFINED 1,3 12 BISYS GROUP INC 5,060 SH DEFINED 1,3 13 BOSTON PROPERTIES INC 70,000 SH DEFINED 1,3 14 BRISTOL MYERS SQUIBB CO 48,000 SH DEFINED 1,3 15 CIGNA CORP 1,500 SH DEFINED 1,3 16 CISCO SYS INC 121,500 SH DEFINED 1,3 17 CITIGROUP INC 25,000 SH DEFINED 1,3 18 COCA COLA CO 29,000 SH DEFINED 1,3 19 CRIIMI MAE INC 26,588 SH DEFINED 1,3 20 CRIIMI MAE INC 3,805 SH DEFINED 1,3 21 CULLEN FROST BANKERS INC 2,265 SH DEFINED 1,3 22 DIME BANCORP INC NEW 7,350 SH DEFINED 1,3 23 ELAN PLC 77,000 SH DEFINED 1,3 24 E M C CORP MASS 85,000 SH DEFINED 1,3 25 EQUITY OFFICE PROPERTIES TRUST 114,130 SH DEFINED 1,3 26 FIRST DATA CORP 11,450 SH DEFINED 1,3 27 FORTUNE BRANDS INC 70,000 SH DEFINED 2,3 28 GABLES RESIDENTIAL TR 19,900 SH DEFINED 1,3 29 GILLETTE CO 3,120 SH DEFINED 1,3 30 GREAT LAKES CHEM CORP 140,000 SH DEFINED 2,3 31 HARLEYSVILLE GROUP INC 540 SH DEFINED 1,3 32 HCC INS HLDGS INC 16,080 SH DEFINED 1,3 33 IHOP CORP 8,060 SH DEFINED 1,3 34 IMS HEALTH INC 20,200 SH DEFINED 1,3 35 INTEL CORP 90,000 SH DEFINED 1,3 36 INTERNATIONAL SPEEDWAY CORP 5,960 SH DEFINED 1,3 37 INTUIT 7,300 SH DEFINED 1,3 38 J P MORGAN CHASE & CO 11,130 SH DEFINED 1,3 39 JOHNSON & JOHNSON 96,000 SH DEFINED 1,3 40 LAFARGE NORTH AMERICA INC 10,260 SH DEFINED 1,3 41 LIBERTY FINL COS INC 6,900 SH DEFINED 1,3 42 MACK CALI RLTY CORP 110,000 SH DEFINED 1,3 43 MERIDTH CORP 95,000 SH DEFINED 2,3 44 MICROSOFT CORP 37,000 SH DEFINED 1,3 45 OVERSEAS SHIPHOLDING GROUP INC 70,000 SH DEFINED 2,3 46 PARTNERRE LTD 15,000 SH DEFINED 1,3 47 PAULA FINL DEL 423,712 SH DEFINED 2,3 48 PEPSICO INC 26,400 SH DEFINED 1,3 49 PHOENIX COS INC NEW 26,700 SH DEFINED 1,3 50 PUBLIC STORAGE INC 69,000 SH DEFINED 1,3 51 QUALCOMM INC 25,000 SH DEFINED 1,3 52 R H DONNELLEY CORP 11,340 SH DEFINED 1,3 53 RECKSON ASSOCS RLTY CORP 155,400 SH DEFINED 1,3 54 RENAISSANCE RE HLDGS LTD 12,300 SH DEFINED 1,3 55 RENT A CTR INC NEW 4,190 SH DEFINED 1,3 56 RYDER SYS INC 235,000 SH DEFINED 2,3 57 SCHERING PLOUGH CORP 74,700 SH DEFINED 1,3 58 SECURITY CAP GROUP IINC 340,000 SH DEFINED 1,3 59 SHURGARD STORAGE CTRS INC 62,500 SH DEFINED 1,3 60 SUMMIT PPTYS INC 137,600 SH DEFINED 1,3 61 TRIZED HAHN CORP 68,000 SH DEFINED 1,3 62 TYCO INTL LTD NEW 20,000 SH DEFINED 1,3 63 UICI 30,040 SH DEFINED 1,3 64 UNISOURCE ENERGY CORP 272,000 SH DEFINED 2,3 65 UNITED FIRE & CAS CO 2,025,680 SH DEFINED 2,3 66 UNUMPROVIDENT CORP 10,590 SH DEFINED 1,3 67 WACHOVIA CORP 2ND NEW 13,690 SH DEFINED 1,3 68 WADDELL & REED FINL INC 16,630 SH DEFINED 1,3 69 WAL MART STORES INC 52,800 SH DEFINED 1,3 70 XL CAP LTD 6,695 SH DEFINED 1,3 71 ZIMMER HLDGS INC 4,800 SH DEFINED 1,3 ----------------------------------------------------------------------------------------- Voting Authority (Shares) ------------------------------------------ Name of Issuer Sole Shared None ----------------------------------------------------------------------------------------- 1 ALLEGHANY CORP DEL 2,876 2 AMBAC FINL GROUP INC 13,145 3 AMERADA HESS CORP 70,000 4 AMERICAN EXPRESS CO 5,430 5 AMGEN INC 75,000 6 AON CORP 132,240 7 ARCHSTONE CMNTYS TR 171,300 8 ARDEN RLTY INC 95,000 9 AVALONBAY CMNTYS INC 51,500 10 BERKLEY W R CORP 5,900 11 BERKSHIRE HATHAWAY INC DEL 522 12 BISYS GROUP INC 5,060 13 BOSTON PROPERTIES INC 70,000 14 BRISTOL MYERS SQUIBB CO 48,000 15 CIGNA CORP 1,500 16 CISCO SYS INC 121,500 17 CITIGROUP INC 25,000 18 COCA COLA CO 29,000 19 CRIIMI MAE INC 26,588 20 CRIIMI MAE INC 3,805 21 CULLEN FROST BANKERS INC 2,265 22 DIME BANCORP INC NEW 7,350 23 ELAN PLC 77,000 24 E M C CORP MASS 85,000 25 EQUITY OFFICE PROPERTIES TRUST 114,130 26 FIRST DATA CORP 11,450 27 FORTUNE BRANDS INC 70,000 28 GABLES RESIDENTIAL TR 19,900 29 GILLETTE CO 3,120 30 GREAT LAKES CHEM CORP 140,000 31 HARLEYSVILLE GROUP INC 540 32 HCC INS HLDGS INC 16,080 33 IHOP CORP 8,060 34 IMS HEALTH INC 20,200 35 INTEL CORP 90,000 36 INTERNATIONAL SPEEDWAY CORP 5,960 37 INTUIT 7,300 38 J P MORGAN CHASE & CO 11,130 39 JOHNSON & JOHNSON 96,000 40 LAFARGE NORTH AMERICA INC 10,260 41 LIBERTY FINL COS INC 6,900 42 MACK CALI RLTY CORP 110,000 43 MERIDTH CORP 95,000 44 MICROSOFT CORP 37,000 45 OVERSEAS SHIPHOLDING GROUP INC 70,000 46 PARTNERRE LTD 15,000 47 PAULA FINL DEL 423,712 48 PEPSICO INC 26,400 49 PHOENIX COS INC NEW 26,700 50 PUBLIC STORAGE INC 69,000 51 QUALCOMM INC 25,000 52 R H DONNELLEY CORP 11,340 53 RECKSON ASSOCS RLTY CORP 155,400 54 RENAISSANCE RE HLDGS LTD 12,300 55 RENT A CTR INC NEW 4,190 56 RYDER SYS INC 235,000 57 SCHERING PLOUGH CORP 74,700 58 SECURITY CAP GROUP IINC 340,000 59 SHURGARD STORAGE CTRS INC 62,500 60 SUMMIT PPTYS INC 137,600 61 TRIZED HAHN CORP 68,000 62 TYCO INTL LTD NEW 20,000 63 UICI 30,040 64 UNISOURCE ENERGY CORP 272,000 65 UNITED FIRE & CAS CO 2,025,680 66 UNUMPROVIDENT CORP 10,590 67 WACHOVIA CORP 2ND NEW 13,690 68 WADDELL & REED FINL INC 16,630 69 WAL MART STORES INC 52,800 70 XL CAP LTD 6,695 71 ZIMMER HLDGS INC 4,800 * 1 = Folksamerica Holding Company, Inc. (Form 13F filed separately) 2 = CGU Asset Management Inc. (Form 13F filed separately) 3 = White Mountains Insurance Group, Ltd.