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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 December 31, 1999.
(PLEASE READ INSTRUCTIONS BEFORE PREPARING FORM.)
If amended report, check here: / /
White Mountains Insurance Group, Ltd.
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Name of Institutional Investment Manager
80 South Main Street Hanover NH 03755-2053
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Business Address (Street) (City) (State) (Zip)
Michael S. Paquette (603) 640-2205 Senior Vice President and Controller
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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 February, 2000.
White Mountains Insurance Group, Ltd.
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(Name of Institutional Investment Manager)
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(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.
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<CAPTION>
Name: 13F File No.: Name: 13F File No.:
<S> <C> <C> <C>
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1. Folksamerica Holding Company, Inc.
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2. White Mountains Services Corp.
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</TABLE>
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WHITE MOUNTAINS INSURANCE GROUP, LTD.
FORM 13F FOR DECEMBER 31, 1999
<TABLE>
<CAPTION>
Title of CUSIP Fair Market Number
Name of Issuer class Number Value of Shares
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<S> <C> <C> <C> <C>
ACE Limited ORD G0070K103 3,186,795 190,969
AMBAC Financial Group, Inc. COM 023139108 404,453 7,750
America Online, Inc. COM 02364J104 1,062,250 14,000
American International Group, Inc. COM 026874107 3,108,594 28,750
Aon Corp. COM 037389103 652,000 16,300
BISYS Group, Inc. COM 055472104 1,298,475 19,900
E.W Blanch Holdings COM 093210102 398,125 6,500
Berkshire Hathaway Inc. CL A 084670108 5,610,000 100
Berkshire Hathaway Inc. CL B 084670207 461,160 252
Bristol Meyers Squibb Co. COM 110122108 2,439,125 38,000
Cisco Systems, Inc. COM 17275R102 3,749,375 35,000
Citigroup, Inc. COM 172967101 2,227,500 40,000
Coca Cola Co. COM 191216100 1,689,250 29,000
Dell Computer COM 247025109 2,805,000 55,000
Donaldson Lufkin & Jenrette COM 257661108 2,902,500 60,000
EMC Corporation COM 268648102 2,731,250 25,000
Federal Home Loan Mortgage Corp. COM 313400301 715,350 15,200
Federal National Mortgage Association COM 313586109 1,866,881 29,900
Financial Security Assurance Holdings Ltd. COM 31769P100 361,920,347 6,943,316
First Data Corporation COM 319963104 564,628 11,450
General Electric Co. COM 369604103 4,333,000 28,000
Gillette Company COM 375766102 4,324,688 105,000
Home Depot, Inc. COM 437076102 3,052,500 44,400
Intel Corp. COM 458140100 2,650,463 32,200
Intuit, Inc. COM 461202103 2,211,694 36,900
Johnson & Johnson, Inc. COM 478160104 1,258,875 13,500
LaSalle Re Holdings Ltd. ORD G5383Q101 630,300 38,200
Lexmark International COM 529771107 1,810,000 20,000
Loral Space & Communication COM G56462107 2,795,938 115,000
Lucent Technologies COM 549463107 2,250,000 30,000
Marsh & McLennan Cos., Inc. COM 571748102 784,638 8,200
MCI Worldcom, Inc. COM 55268B106 2,785,781 52,500
Microsoft Corp. COM 594918104 3,152,250 27,000
Nordstrom, Inc. COM 655664100 2,631,250 100,000
PartnerRe Limited COM G6852T105 402,225 12,400
Pfizer, Inc. COM 717081103 1,946,250 60,000
Protective Life Corp. COM 743674103 318,125 10,000
Reinsurance Group of America, Inc. COM 759351109 135,698 4,890
Safeskin Corp. COM 786454108 312,825 25,800
Schering Plough Corp. COM 806605101 3,165,413 74,700
Torchmark, Corp. COM 891027104 342,938 11,800
Travelers Property and Casualty CLA 893939108 339,075 9,900
Waddell & Reed Financial, Inc. CLA 930059100 688,975 25,400
Wal Mart Stores, Inc. COM 931142103 3,649,800 52,800
Walt Disney Co. COM DISNEY 254687106 6,086,925 208,100
XL Capital Ltd. CL A G98255105 778,903 15,015
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GRAND TOTAL $452,631,583
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<CAPTION>
Investment Voting Authority
Discretion (Shares)
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Name of Issuer Sole Shared Other Managers * Sole Shared None
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<S> <C> <C> <C> <C> <C> <C> <C>
ACE Limited x ** 1 190,969
AMBAC Financial Group, Inc. x ** 1 7,750
America Online, Inc. x ** 1 14,000
American International Group, Inc. x ** 1 28,750
Aon Corp. x ** 1 16,300
BISYS Group, Inc. x ** 1 19,900
E.W Blanch Holdings x ** 1 6,500
Berkshire Hathaway Inc. x 2 100
Berkshire Hathaway Inc. x ** 1 252
Bristol Meyers Squibb Co. x ** 1 38,000
Cisco Systems, Inc. x ** 1 35,000
Citigroup, Inc. x ** 1 40,000
Coca Cola Co. x ** 1 29,000
Dell Computer x ** 1 55,000
Donaldson Lufkin & Jenrette x ** 1 60,000
EMC Corporation x ** 1 25,000
Federal Home Loan Mortgage Corp. x ** 1 15,200
Federal National Mortgage Association x ** 1 29,900
Financial Security Assurance Holdings Ltd. x ** 3 6,943,316
First Data Corporation x ** 1 11,450
General Electric Co. x ** 1 28,000
Gillette Company x ** 1 105,000
Home Depot, Inc. x ** 1 44,400
Intel Corp. x ** 1 32,200
Intuit, Inc. x ** 1 36,900
Johnson & Johnson, Inc. x ** 1 13,500
LaSalle Re Holdings Ltd. x ** 1 38,200
Lexmark International x ** 1 20,000
Loral Space & Communication x ** 1 115,000
Lucent Technologies x ** 1 30,000
Marsh & McLennan Cos., Inc. x ** 1 8,200
MCI Worldcom, Inc. x ** 1 52,500
Microsoft Corp. x ** 1 27,000
Nordstrom, Inc. x ** 1 100,000
PartnerRe Limited x ** 1 12,400
Pfizer, Inc. x ** 1 60,000
Protective Life Corp. x ** 1 10,000
Reinsurance Group of America, Inc. x ** 1 4,890
Safeskin Corp. x ** 1 25,800
Schering Plough Corp. x ** 1 74,700
Torchmark, Corp. x ** 1 11,800
Travelers Property and Casualty x ** 1 9,900
Waddell & Reed Financial, Inc. x ** 1 25,400
Wal Mart Stores, Inc. x ** 1 52,800
Walt Disney Co. x ** 1 208,100
XL Capital Ltd. x ** 1 15,015
GRAND TOTAL
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* Managers
1 = Folksamerica Holding Company, Inc. (FORM 13F filed separately)
2 = White Mountains Insurance Group, Ltd. (FORM 13F filed separately)
3 = White Mountains Services Corporation (FORM 13F filed separately)
** Investment discretion shared with indirect wholly owned insurance
subsidiaries
