White Mountains reports Q1 2026 earnings with 1.0% portfolio return excluding MediaAlpha drag

Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read

Key Changes

• high

  Q1 2026 total portfolio return was 0.2%, improving to 1.0% when excluding MediaAlpha's negative performance. Equity portfolio showed -0.3% return, or 1.6% excluding MediaAlpha, indicating significant underperformance in that holding.

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• medium

  Company disclosed ten non-GAAP metrics for Kudu and Distinguished subsidiaries, including EBITDA, adjusted EBITDA, annualized revenue, and cash revenue yield, adjusting for items like unrealized gains, equity compensation, and transaction expenses.

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• medium

  Standard quarterly earnings announcement for three months ended March 31, 2026, with detailed results provided in attached press release.

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