Here’s Why White Mountains Insurance Group, Ltd. (WTM) Outperformed in the Quarter
Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, majority of the equity indexes declined due to interest rate hikes, Russia-Ukraine war, and Federal Reserve's balance-sheet tapering. Mid-cap and small-cap stocks poorly performed in the quarter relative to other investments. The fund’s portfolio was most overweight in the utilities and consumer staples sectors and is currently underweight in the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Tower Advisers discussed stocks like White Mountains Insurance Group, Ltd. (NYSE:WTM) in the second quarter 2022 investor letter. Headquartered in Hamilton, Bermuda, White Mountains Insurance Group, Ltd. (NYSE:WTM) is an insurance and other financial services provider. On October 5, 2022, White Mountains Insurance Group, Ltd. (NYSE:WTM) stock closed at $1,374.38 per share. One-month return of White Mountains Insurance Group, Ltd. (NYSE:WTM) was -1.37% and its shares gained 25.63% of their value over the last 52 weeks. White Mountains Insurance Group, Ltd. (NYSE:WTM) has a market capitalization of $3.995 billion.
Here is what Carillon Tower Advisers specifically said about White Mountains Insurance Group, Ltd. (NYSE:WTM) in its Q2 2022 investor letter:
"White Mountains Insurance Group, Ltd. (NYSE:WTM), another relatively defensive holding, rose as insurance premiums remained strong and investors anticipated the company may benefit from inflation as costs rise, thus driving up insurance premiums. The rise in interest rates during the quarter also helped earnings at insurance companies as interest on their investment portfolio rises. White Mountains also announced the sale of a subsidiary at an attractive valuation."
White Mountains Insurance Group, Ltd. (NYSE:WTM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held White Mountains Insurance Group, Ltd. (NYSE:WTM) at the end of the second quarter which was 17 in the previous quarter.
We discussed White Mountains Insurance Group, Ltd. (NYSE:WTM) in another article and shared Longleaf Partners’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
