Here’s Why White Mountains Insurance Group Ltd (WTM) Fell in Q3

Core Insights - The London Company Small Cap Strategy reported a 1.9% appreciation in its small-cap portfolio for Q3 2025, underperforming the Russell 2000 Index which gained 12.4% [1] - The investor letter highlighted White Mountains Insurance Group, Ltd. (NYSE:WTM) as a key stock, noting its recent performance and market capitalization [2] Company Performance - White Mountains Insurance Group, Ltd. (NYSE:WTM) experienced a one-month return of -0.28% and a 52-week gain of 6.82%, with a closing stock price of $1,899.87 and a market cap of $4.892 billion as of November 3, 2025 [2] - The company faced challenges due to industry headwinds and investment volatility, impacting its stock performance [3] Investment Sentiment - Despite the challenges, The London Company expressed confidence in White Mountains Insurance Group's potential for growth in book value per share through prudent capital allocation [3] - The stock is not among the top 30 most popular stocks among hedge funds, with 20 hedge fund portfolios holding it at the end of Q2 2025, an increase from 19 in the previous quarter [4]