Longleaf Partners’ Top Q2 Contributor: White Mountains Insurance Group (WTM)

Longleaf Partners Fund, a Memphis-based fund under Southeastern Asset Management, published its “Longleaf Partners Small-Cap Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. Longleaf Partners Small-Cap Fund declined 15.66% in the second quarter, outperforming the Russell 2000 Index, which declined 17.20%, and roughly in line with the Russell 2000 Value. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Longleaf Partners Small-Cap Fund mentioned White Mountains Insurance Group, Ltd. (NYSE:WTM) and explained its insights for the company. Founded in 1980, White Mountains Insurance Group, Ltd. (NYSE:WTM) is a Hanover, New Hampshire-based insurance company with a $4.03 billion market capitalization. White Mountains Insurance Group, Ltd. (NYSE:WTM) delivered a 36.86% return since the beginning of the year, while its 12-month returns are up by 31.01%. The stock closed at $1,387.64 per share on September 20, 2022.

 Here is what Longleaf Partners Small-Cap Fund has to say about White Mountains Insurance Group, Ltd. (NYSE:WTM) in its Q2 2022 investor letter:

“White Mountains – Newly purchased in 4Q21 insurance conglomerate White Mountains was the top contributor in the quarter. We have known this company for decades, and they proved their ability to deliver value in the quarter by selling NSM Insurance Group for a great price ($1.775 billion) to private equity company Carlyle. This move gives White Mountains a lot of financial firepower to go on offense at a great time and makes the leverage-adjusted price-to-value even more attractive than when we first bought shares, meaning the company still has significant upside from here.”

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Our calculations show that White Mountains Insurance Group, Ltd. (NYSE:WTM) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. White Mountains Insurance Group, Ltd. (NYSE:WTM) was in 20 hedge fund portfolios at the end of the second quarter of 2022, compared to 17 funds in the previous quarter. White Mountains Insurance Group, Ltd. (NYSE:WTM) delivered a 13.94% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.