WHG on NYSE

Westwood Holdings Group

Logo: westwoodgroup.com4

US asset management firm based in Dallas, founded in 19831

In its 2026 annual report the company says: “Westwood Holdings Group, founded in 1983, through Westwood Management, provides investment advisory services to institutional investors, a family of mutual funds called the Westwood Funds®, other mutual funds, individual investors and clients of Westwood Trust.”14 Its shares trade on NYSE under the symbol WHG.1

$18.91 down 0.23 (1.23%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

1983Founded1

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  • TickerWHG on NYSE1
  • IndustryInvestment Advice1
  • HeadquartersDallas1
  • Websitewestwoodgroup.com
  • Incorporated inDE5
  • Business address200 Crescent Court, Suite 1200, Dallas, Tx 752015
  • Filer categoryNon-accelerated filer, Smaller reporting company5

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.1%Operating margin6
7.2%Net margin6
3.2%Revenue growth, 20256
5.6%Return on equity6
$18.8MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Asset Management brought in 39% of the revenue Westwood Holdings Group broke down this way in fiscal 2025.

  1. Asset Management$74.7M639%up 7% from 2024
  2. Investment Advisory Services$74.7M639%up 7% from 2024
  3. Fiduciary and Trust$21.6M611%up 1% from 2024
  4. Trust Fee$21.6M611%up 1% from 2024
  5. Investment Performance$874.0K60%down 37% from 2024
  6. Other Revenue Misc Services$346.0K60%down 79% from 2024
  7. Trust performance-based fees$260.0K60%down 46% from 2024
Products and services by year
Products and services202320242025
Asset Management$67.4M$69.8M$74.7M
Investment Advisory Services$67.4M$69.8M$74.7M
Fiduciary and Trust$20.2M$21.4M$21.6M
Trust Fee$20.2M$21.4M$21.6M
Investment Performance$1.3M$1.4M$874.0K
Other Revenue Misc Services$534.0K$1.7M$346.0K
Trust performance-based fees$349.0K$482.0K$260.0K

Business segments

Advisory brought in 79% of the revenue Westwood Holdings Group broke down this way in fiscal 2025.

  1. Advisory$84.1M679%up 7% from 2024
  2. Trust$22.0M621%down 1% from 2024
Business segments by year
Business segments202320242025
Advisory$75.5M$78.8M$84.1M
Trust$20.9M$22.1M$22.0M

Regions

United States brought in 99% of the revenue Westwood Holdings Group broke down this way in fiscal 2025.

  1. United States$97.0M699%up 3% from 2024
  2. CA [member]$791.0K61%down 22% from 2024
Regions by year
Regions202320242025
United States$88.7M$93.7M$97.0M
CA [member]$1.1M$1.0M$791.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs90¢$88.1M
  • Income tax3¢$2.6M
  • Profit7¢$7.1M

Out of $97.8M in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending0¢$86.0K
  • Dividends paid28¢$5.4M
  • Kept or used elsewhere71¢$13.5M

Out of $18.9M of cash from operations.6

Financial statements

Revenue789106$97.8M in 2025+16% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $84.1M$84.1M20192020: $65.1M$65.1M2020−23%2021: $73.1M$73.1M2021+12%2022: $68.7M$68.7M2022−6%2023: $89.8M$89.8M2023+31%2024: $94.7M$94.7M2024+6%2025: $97.8M$97.8M2025+3%
Operating income789106$5.0M in 2025+7% since 2019
-$5.0M0$5.0M$10.0M2019: $4.6M$4.6M20192020: -$3.4M-$3.4M20202021: $6.0M$6.0M20212022: -$4.9M-$4.9M20222023: $6.0M$6.0M20232024: $830.0K$830.0K2024−86%2025: $5.0M$5.0M2025+499%
Net income789106$7.1M in 2025+20% since 2019
-$10.0M-$5.0M0$5.0M$10.0M$15.0M2019: $5.9M$5.9M20192020: -$8.9M-$8.9M20202021: $9.8M$9.8M20212022: -$4.6M-$4.6M20222023: $10.6M$10.6M20232024: $2.2M$2.2M2024−79%2025: $7.1M$7.1M2025+220%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 4 quarters (quarterly), latest first.6

Period ending2025-12-312024-12-312023-12-31
Other Revenue, Net$346.0K$1.7M$534.0K
Total revenues$97.8M$94.7M$89.8M
Employee compensation and benefits$56.7M$56.0M$52.9M
Amortization of intangible assets$3.9M$4.1M$4.1M
Unrealized Gain (Loss) on Investments$1.9M$0$6.0K
Net interest and dividend revenue$1.7M$2.2M$1.2M
Other Income$1.1M$1.0M$6.2M
Provision for income taxes$2.6M$1.8M$2.9M
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest$7.1M$2.2M$10.6M
Sales and marketing$2.7M$2.7M$3.0M
Westwood funds expense$4.3M$3.3M$3.1M
Information technology$10.9M$9.7M$9.7M
Professional services$6.9M$5.5M$5.1M
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized$0$0$209.0K
Operating Expenses$92.8M$93.9M$83.8M
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest$19.0K-$4.0K$1.1M
General and administrative$11.3M$11.9M$12.5M
Foreign Currency Transaction Gain (Loss), before Tax$0$4.9M$2.8M
Operating Income (Loss)$5.0M$830.0K$6.0M
Income (loss) before income taxes$9.7M$4.0M$13.4M
Net income$7.1M$2.2M$10.6M
Other comprehensive income (loss)$994.0K
Total comprehensive income (loss)$7.1M$2.2M$9.5M
Basic (in dollars per share)$0.84$0.27$1.20
Diluted (in dollars per share)$0.79$0.26$1.17
Basic (in shares)8.4M shares8.2M shares8.0M shares
Diluted (in shares)8.9M shares8.5M shares8.1M shares

Compare Westwood Holdings Group with another company

Corporate structure

Westwood Holdings Group sits at the top of its group. 8 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Westwood Holdings Group

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (7 companies). Each entity in the chart links to its source.

What it owns

What Westwood Holdings Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$8.4M6 Dec 31, 2025$10.1M6 Dec 31, 2024−16.4%
Property and equipment, net$536.0K6 Dec 31, 2025$951.0K6 Dec 31, 2024−43.6%
Operating-lease assets (leased space)$9.7M6 Dec 31, 2025$2.6M6 Dec 31, 2024+278.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$26.2M6 Dec 31, 2025$18.8M6 Dec 31, 2024+39.3%
Marketable securities, current$21.4M6 Dec 31, 2025$27.7M6 Dec 31, 2024−22.6%
Stakes in other companies (equity method)$4.3M6 Dec 31, 2025$4.2M6 Dec 31, 2024+1.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$39.5M6 Dec 31, 2025$39.5M6 Dec 31, 20240%
Finite-lived intangibles, gross$41.5M6 Dec 31, 2025$41.7M6 Dec 31, 2024−0.5%
Accumulated amortization$23.3M6 Dec 31, 2025$20.1M6 Dec 31, 2024+16.2%
Finite-lived intangibles, net$18.2M6 Dec 31, 2025$21.7M6 Dec 31, 2024−16.0%

Properties, in its own words

Westwood, Westwood Management and Westwood Trust conduct their principal operations using approximately 30,000 square feet of leased office space in Dallas, Texas pursuant to a lease with an initial term that expires in 2036. In addition, we lease approximately 11,000 square feet of office space in Houston, Texas pursuant to a lease that expires in September 2029. We lease a limited amount of office space in Chicago, Illinois.

We monitor these facilities to ensure their adequacy to serve our anticipated business needs.

Item 2 of the 10-K filed Mar 4, 2026.14

Leadership

Who has led Westwood Holdings Group, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (27)

Timeline

  1. Aug 6, 20268-K Results of operations; Regulation FD disclosure50
  2. May 5, 20268-K Executive or director change; Shareholder vote51
  3. Apr 30, 20268-K Results of operations; Regulation FD disclosure52
  4. Feb 13, 20268-K Results of operations; Regulation FD disclosure53
  5. Oct 30, 20258-K Results of operations; Regulation FD disclosure54
  6. Aug 8, 20258-K Results of operations; Regulation FD disclosure55
  7. Jun 3, 20258-K Executive or director change56
  8. May 5, 20258-K Executive or director change; Shareholder vote57
  9. Apr 30, 20258-K Results of operations; Regulation FD disclosure58
  10. Mar 6, 20258-K Executive or director change59
  11. Feb 12, 20258-K Results of operations; Regulation FD disclosure60
  12. Dec 5, 20248-K Bylaws or fiscal year changed61
  13. May 30, 2006New chief executive Brian O. Casey becomes CEO15
  14. 1983Founded Founded1

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/202662

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results50
  2. Apr 30, 2026Reported quarterly or annual results52
  3. Feb 13, 2026Reported quarterly or annual results53
  4. Oct 30, 2025Reported quarterly or annual results54
  5. Aug 8, 2025Reported quarterly or annual results55
  6. Apr 30, 2025Reported quarterly or annual results58
  7. Feb 12, 2025Reported quarterly or annual results60
  8. Oct 30, 2024Reported quarterly or annual results63

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

261 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 35 major events, 129 insider forms, 28 large holders, 49 other. The latest 20:

  1. Aug 24, 2026N-PX EDGAR
  2. Aug 14, 202613F-HR EDGAR
  3. Aug 12, 2026SCHEDULE 13D/A EDGAR
  4. Aug 7, 20264 EDGAR
  5. Aug 6, 202610-Q EDGAR
  6. Aug 6, 20268-K EDGAR
  7. Jul 7, 20264 EDGAR
  8. Jul 1, 2026144 EDGAR
  9. Jul 1, 20264/A EDGAR
  10. Jul 1, 20264/A EDGAR
  11. Jun 30, 20264 EDGAR
  12. Jun 25, 20264 EDGAR
  13. Jun 22, 20264 EDGAR
  14. Jun 16, 20264 EDGAR
  15. Jun 12, 20264 EDGAR
  16. Jun 9, 20264 EDGAR
  17. Jun 2, 20264 EDGAR
  18. May 28, 20264 EDGAR
  19. May 22, 20264 EDGAR
  20. May 18, 20264 EDGAR

The 261 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

104 open-market trades by officers, directors and large owners since October 2021: 12 buys and 92 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 2, 2026BYRNE SUSAN MSale4,481$19.88$89.1KForm 4
Jul 1, 2026BYRNE SUSAN MSale3,584$19.35$69.3KForm 4
Jun 30, 2026BYRNE SUSAN MSale1,091$19.17$20.9KForm 4
Jun 30, 2026BYRNE SUSAN MSale1,091$19.17$20.9KForm 4
Jun 29, 2026BYRNE SUSAN MSale7,192$20.03$144.1KForm 4
Jun 29, 2026BYRNE SUSAN MSale7,129$20.03$142.8KForm 4
Jun 26, 2026BYRNE SUSAN MSale4,274$19.39$82.9KForm 4
Jun 26, 2026BYRNE SUSAN MSale4,274$19.39$82.9KForm 4
Jun 25, 2026BYRNE SUSAN MSale500$18.21$9.1KForm 4
Jun 24, 2026BYRNE SUSAN MSale1,300$18.32$23.8KForm 4
Jun 23, 2026BYRNE SUSAN MSale2,500$18.45$46.1KForm 4
Jun 22, 2026BYRNE SUSAN MSale1,000$18.31$18.3KForm 4
Jun 22, 2026BYRNE SUSAN MSale1,000$18.31$18.3KForm 4
Jun 18, 2026BYRNE SUSAN MSale1,594$18.35$29.2KForm 4
Jun 18, 2026BYRNE SUSAN MSale1,549$18.35$28.4KForm 4
Jun 17, 2026BYRNE SUSAN MSale350$18.10$6.3KForm 4
Jun 17, 2026BYRNE SUSAN MSale350$18.10$6.3KForm 4
Jun 16, 2026BYRNE SUSAN MSale1,634$18.29$29.9KForm 4
Jun 15, 2026BYRNE SUSAN MSale2,910$17.96$52.3KForm 4
Jun 12, 2026BYRNE SUSAN MSale4,367$17.86$78.0KForm 4

All 104 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Westwood Holdings Group has told the SEC it owns more than 5% of 7 companies, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Brian O. Casey62$750.0K$2.6M83
2025Fabian Gomez$441.7K$1.5M83
2025David O. Linton$320.8K$978.0K83
2024Chief Executive Officer of Westwood Holdings Group$750.0K$2.1M83
2024President and Chief Operating Officer$400.0K$1.2M83
2023Chief Executive Officer of Westwood Holdings Group$750.0K$2.1M83
2023President and Chief Operating Officer$400.0K$864.7K83

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 69. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Allspring Global Investments Holdings, LLC592,567$11.4M0.0%−20,547
BlackRock, Inc.582,224$11.2M0.0%+72,809
Westwood Holdings Group Inc518,966$9.9M0.1%+74,721
Settian Capital LP470,515$9.0M5.8%No change
Gamco Investors, Inc. Et Al443,800$8.5M0.1%No change
North Star Investment Management Corp.387,800$7.4M0.4%+6,991
Renaissance Technologies LLC328,558$6.3M0.0%−22,209
Vanguard Capital Management LLC327,032$6.3M0.0%+6,516
Dimensional Fund Advisors LP284,446$5.5M0.0%+4,761
King Luther Capital Management Corp185,000$3.5M0.0%No change
Geode Capital Management, LLC172,481$3.3M0.0%+12,185
Aegis Financial Corp99,926$1.9M0.3%No change
Bridgeway Capital Management, LLC99,460$1.9M0.0%+2,110
Garner Asset Management Corp94,418$1.8M0.6%−16,598
State Street Corp86,997$1.7M0.0%−1,400
Gabelli Funds LLC82,210$1.6M0.0%No change
Peapod Lane Capital LLC80,120$1.5M1.0%+1,261
Northern Trust Corp55,531$1.1M0.0%−13,725
De Lisle Partners LLP50,012$959.6K0.1%−8,187
Vanguard Portfolio Management LLC50,013$958.2K0.0%+7,147
Vanguard Fiduciary Trust Co46,948$899.5K0.0%+500
Bank Of America Corp /de/46,310$887.3K0.0%−9,546
Empowered Funds, LLC44,008$843.2K0.0%+2,110
Sei Investments Co40,419$774.4K0.0%+8,760
Levin Capital Strategies, L.P.25,508$488.7K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Westwood Holdings Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARWESTWOOD HOLDINGS GROUP INC2
  • CIK0001165002
  • Employer ID (EIN)75-296999714
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company14
  • Incorporated inDelaware14
  • Fiscal year endsDecember 312
  • Industry code (SIC)6282 Investment Advice2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address200 Crescent Court, Suite 1200, Dallas, TX 752012
  • Phone21475669002
  • Shares outstanding9,484,473 shares as of Feb 27, 202614
  • Public float$98.5M as of Jun 30, 202514
  • AuditorBDO USA, P.C., Dallas, Texas PCAOB ID 24314
  • On EDGAR sinceFeb 8, 20022
  • Filings1,605 in all: 4 (945), 8-K (175), SC 13G/A (74), 10-Q (73), 13F-HR (53), SC 13G (35), 4/A (34), 3 (32)2
    All 36 form types

    SC 13D/A (26), 10-K (24), DEF 14A (24), S-8 (18), ARS (13), 144 (12), UPLOAD (9), CORRESP (7), 13F-HR/A (6), 8-K/A (6), 10-12B/A (5), PRE 14A (5), SC 13D (4), SCHEDULE 13G/A (4), DEFA14A (3), N-PX (3), 3/A (2), SCHEDULE 13D/A (2), SCHEDULE 13G (2), 10-12B (1), 25-NSE (1), 5 (1), 8-A12B (1), CERT (1), CERTNYS (1), DEFR14A (1), S-3 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 4, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Mar 13, 2026
    Latest 8-K (8-K) Aug 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareWHGNew York Stock Exchange

From the cover page of the 10-K filed Mar 4, 2026 (Section 12(b) of the Exchange Act).14

Risk factors and legal proceedings

The risks Westwood Holdings Group names in Item 1A of its 10-K filed Mar 4, 2026: 27 risks under these headings, as written.14

  • We believe these represent the material risks currently facing our business. Our business, financial condition or results of operations could be materially adversely affected by these risks. The trading price of our common stock could decline due to any of these risks, and you may lose all or part of your investment. You should carefully consider the risks described below before making an investment decision. You should also refer to the other information included or incorporated by reference in this Report, including our financial statements and related notes.
  • Risks Related to the Investment Industry
  • Our results of operations depend upon the market value and composition of AUM and AUA, which can fluctuate significantly based on various factors, some of which are beyond our control.
  • The investment management and wealth management industry is highly competitive and innovative.
  • Some of our strategies invest in the securities of non-U.S. companies, which involve foreign currency exchange, tax, political, social and economic uncertainties and risks.
  • Legal and Regulatory Risks
  • Our business involves risks of being engaged in litigation and liability that could increase our expenses and reduce our results of operations.
  • Business and Operational Risks
  • Due to the substantial cost and time required to introduce new investment strategies or expand the market for current strategies, we may not be able to successfully introduce investment strategies in a timely manner, or at all.
  • Damage to our reputation could harm our business and have a material adverse effect on our results of operations.
  • Our success depends on certain key employees and our ability to attract and develop new, talented professionals. Our inability to attract and retain key employees could compromise our future success.
  • Failure to perform operational tasks or the misrepresentation of products and services could have an adverse effect on our reputation and our business, financial condition and results of operations.
The other 18 risks
  • Failure to select appropriate third-party vendors and apply appropriate oversight of third-party vendors could disrupt our operations and have a material adverse effect on our business, financial condition and results of operations.
  • We are a holding company dependent on the operations and funds of our subsidiaries.
  • Technology and Privacy Risks
  • Failure to implement and maintain effective cybersecurity controls could disrupt our operations and have a material adverse effect on our results of operations, reputation and stock price.
  • Our business is vulnerable to systems failures that could have a material adverse effect on our business, financial condition and results of operations.
  • Misuse of assets and information in the possession of our employees and third-party vendors could damage our reputation and result in costly litigation and liability for our clients and us.
  • Risks Related to Ownership of Stock and Corporate Governance
  • Our stock is thinly traded and may be subject to volatility.
  • Distributions to our common stockholders have included and may in the future include a return of capital.
  • Actions of activist stockholders could cause us to incur substantial costs, divert the attention and resources of our management and the Board of Directors, and have an adverse effect on our business and stock price.
  • Risks Related to our Clients
  • Competitive fee pressures could reduce revenues and profit margins.
  • Our business is dependent on investment advisory, sub-advisory, and trust agreements that are subject to termination or non-renewal and investments we manage under such agreements may be redeemed. As a result, we could lose clients on very short notice.
  • A small number of clients account for a substantial portion of our business, and a reduction or loss of business with any of these clients could have a material adverse effect on our business, financial condition and results of operations.
  • General Risk Factors
  • We have made and may continue to make business combinations as a part of our business strategy, which may present risks and uncertainties.
  • Failure to effectively execute our strategic growth plan could result in damage to our reputation and could have a material adverse effect on our business, financial condition and results of operations.
  • Various factors may hinder the declaration and payment of dividends.
  • We may not be able to fund future capital requirements on favorable terms, if at all.
  • Failure to properly identify and address conflicts of interest could harm our reputation or cause clients to withdraw funds, which could adversely affect our business and results of operations.
  • Insurance coverage may be inadequate to cover legal and regulatory proceedings.
  • Failure to maintain effective internal controls could have a material adverse effect on our business and stock price.

Legal proceedings

We are subject from time to time to certain claims and legal proceedings arising in the ordinary course of our business.

The opening of Item 3, Legal Proceedings.14

Sources

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