Westwood Holdings Group Inc (NYSE: WHG)

Westwood Holdings Group, Inc. is a registered investment adviser that provides asset management and trust services to institutional investors, high net worth individuals and financial intermediaries. The firm operates through its subsidiaries to deliver investment advisory solutions, mutual funds, exchange traded funds and fiduciary services. Its core business centers on managing investment portfolios and delivering customized wealth management advice. Founded in 1983, the company has grown through organic development and strategic acquisitions to broaden its product platform and distribution reach. Headquarters are located in Dallas, Texas and the firm maintains a presence in several major financial centers across the United States.

The company generates revenue primarily from fees based on a percentage of assets under management and assets under advisement charged to clients for advisory and sub advisory services. These fees include base management fees and occasional performance based fees when investment returns exceed agreed benchmarks. Additional income is derived from distribution fees, custody charges and revenues from the broker dealer subsidiary that executes private placements. At December 31, 2025, assets under management totaled approximately $16.5 billion and assets under advisement totaled approximately $0.9 billion. The firm’s revenue stream is closely tied to the market value of client assets and the success of its investment strategies.

The company operates through the following segments: Westwood Management and Westwood Trust.

• Westwood Management: Provides investment advisory services to institutional clients, retirement plans, endowments, foundations and financial advisors through mutual funds, separate accounts and exchange traded products. The segment encompasses six investment capabilities including U. S. Value Equity, Multi-Asset, Energy and Real Assets, Tactical Absolute Return, Income Alternatives and Managed Investment Solutions. It also sub-advises funds for other advisers and offers custom portfolio construction for qualified clients.

• Westwood Trust: Offers trust, custodial and investment management services to high net worth individuals, families and institutions using customized portfolios and commingled funds. The segment provides fiduciary services such as financial planning, wealth transfer, trust administration and estate settlement. It also sponsors a range of collective investment funds and manages separate equity and fixed income portfolios tailored to client objectives.

Westwood Holdings Group competes in a crowded asset management industry against large national firms and numerous boutique advisors. Its competitive advantage stems from a focused investment approach, strong client service and the ability to offer customized solutions across equity, fixed income and alternative strategies. The firm’s brand is built on long term performance and a reputation for responsiveness which helps it attract and retain institutional relationships. While many competitors offer broader product lines, Westwood emphasizes niche expertise and a relationship driven model to differentiate itself in the marketplace.

The firm serves institutional investors such as corporate and public pension plans, endowments and foundations, as well as high net worth individuals and families. It also works with financial advisors, broker dealers and retirement plan sponsors who distribute its products to underlying investors. The ten largest clients accounted for approximately 20 percent of fee revenues for the year ended December 31, 2025, highlighting the importance of maintaining deep relationships with key accounts.