SEC Filing Summary: Westwood Holdings Group Inc
Business Context and Reporting Period
Filing Type: Form 13F Information Table
Company: Westwood Holdings Group Inc
Reporting Period: Quarter ended December 31, 2018
Context: This filing discloses the equity securities held by Westwood Holdings Group Inc as a registered investment manager. It details the issuer, class of security, CUSIP, value, and voting authority for each holding.
Key Financial Metrics
Note: As a Form 13F, this document reports portfolio holdings rather than the company's own operating financials (revenue, profit, cash flow). The following metrics reflect the reported portfolio composition.
- Total Portfolio Value: The filing lists individual security values in thousands of dollars. A precise aggregate total is not explicitly stated in the text, though the portfolio contains hundreds of positions.
- Largest Holdings by Value (Selected):
- AT&T Inc: $4,847,003
- Bank of America Corp: $8,760,622
- Chesapeake Energy Corp: $7,872,567
- Booz Allen Hamilton Holding Corp: $2,271,612
- Enterprise Products Partners LP: $3,703,711
- Callon Petroleum Co: $3,661,943
- Debt and Liquidity: Not applicable. This form does not report the manager's corporate debt or liquidity positions.
- Margin: Not applicable.
Material Changes and Portfolio Composition
Investment Discretion: The vast majority of holdings are reported with "DFND" (Discretionary) authority, indicating Westwood Holdings Group Inc manages these assets. Some positions show shared or sole voting authority.
Asset Classes: The portfolio is heavily weighted toward:
- Energy & Midstream: Significant exposure to oil and gas exploration and pipeline companies (e.g., Chesapeake Energy, Enterprise Products, Williams Cos, Magellan Midstream).
- Financials: Large positions in major banks (Bank of America, JPMorgan Chase, Wells Fargo) and regional banks.
- Technology & Healthcare: Holdings in major tech firms (Apple, Microsoft, Alphabet) and healthcare providers (UnitedHealth, CVS Health, Johnson & Johnson).
- Real Estate (REITs): Substantial holdings in real estate investment trusts (e.g., American Homes 4 Rent, Alexandria Real Estate, Prologis).
- ETFs: The portfolio includes various exchange-traded funds, including iShares and SPDR products tracking S&P 500, international markets, and bond indices.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or strategic outlooks. They are strictly historical disclosures of holdings.
Risks and Contingencies: No specific risks or contingencies are disclosed in this document. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Unusual Items: The filing lists standard equity securities. There are no unusual items or derivatives (other than standard call/put options which are not detailed in this specific text snippet beyond the column headers) explicitly flagged as unusual.
Key Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk in the Energy sector, which appears to be a major component of the portfolio based on the high values of Chesapeake Energy and Enterprise Products.
- Voting Authority: Confirm the extent of "Sole" vs. "Shared" voting authority for the largest positions to understand the manager's control over corporate governance.
- ETF Exposure: Review the specific ETF holdings to determine if the portfolio has significant passive exposure to broad market indices alongside active stock picking.
- Data Accuracy: As noted in the filing, the SEC does not verify the accuracy of 13F data; investors should cross-reference with other filings or market data if precise valuation is critical.
- Missing Financials: Investors seeking Westwood Holdings Group Inc's own revenue, profit, or cash flow must look to their 10-K or 10-Q filings, as this document only reports their client assets under management.