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: The filing lists a period end of December 31, 2025. Note: This date appears to be a future date relative to the current calendar year; investors should verify if this is a data entry error in the source text or a specific forward-looking filing context.
Business Nature: Westwood Holdings Group Inc. is a registered investment adviser reporting its holdings of equity securities and certain debt securities. The portfolio is heavily diversified across large-cap equities, exchange-traded funds (ETFs), and corporate bonds.
Key Financial Metrics and Portfolio Composition
The filing provides a detailed list of holdings but does not aggregate total portfolio value, revenue, or profit metrics for Westwood Holdings Group Inc. itself. The following metrics are derived from the reported holdings:
- Asset Class Mix: The portfolio consists primarily of common stocks (equities), corporate notes (debt), and exchange-traded funds (ETFs).
- Top Equity Holdings (by Value):
- Microsoft Corp: $149,545,460
- Amazon.com Inc: $135,752,167
- Apple Inc: $139,850,221
- Alphabet Inc (Class A): $122,121,645
- Johnson & Johnson: $105,905,421
- Top Debt Holdings (by Value):
- Blackline Inc Note: $8,100,000
- NextEra Energy Cap Hldgs Note: $6,400,000
- Northern Oil & Gas Inc Note: $6,515,000
- Meritage Homes Corp Note: $6,140,000
- Significant ETF Exposure: Notable positions in Vanguard Tax-Managed Funds ($296.9M), Invesco QQQ Trust ($43.2M), and various iShares and SPDR sector ETFs.
Material Changes and Voting Authority
Comparison to Prior Period: The provided text contains only the current period's data. No prior period data is included in this filing text; therefore, material changes in holdings cannot be calculated from this source alone.
Voting Authority: Westwood Holdings Group Inc. reports voting authority across three categories:
- Sole Discretion: The majority of holdings are managed with sole voting discretion.
- Shared Discretion: Significant shared voting authority is reported for holdings such as Kinder Morgan Inc ($229.5M value), Williams Cos Inc ($255.8M value), and Verra Mobility Corp ($106.7M value).
- None: Some positions, particularly certain ETFs and specific corporate notes, report no voting authority.
Outlook, Risks, and Contingencies
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risks or contingencies. However, the portfolio composition indicates exposure to:
- Market Risk: Heavy concentration in large-cap technology and healthcare sectors.
- Interest Rate Risk: Significant exposure to corporate debt securities with varying maturities and coupon rates.
- Liquidity Risk: While most holdings are liquid public equities, some smaller-cap positions and specific debt instruments may have lower liquidity.
Investor Verification Checklist
- Verify Reporting Date: Confirm the accuracy of the "2025 Dec 31" period end date, as it appears to be in the future relative to standard reporting cycles.
- Check for Prior Filings: Retrieve the previous quarter's Form 13F to calculate net buying/selling activity and identify material changes in top holdings.
- Assess Concentration Risk: Analyze the percentage of the total portfolio held in the top 10 positions (e.g., Microsoft, Amazon, Apple) to understand concentration risk.
- Review Debt Covenants: For the significant corporate note holdings (e.g., Blackline, NextEra), verify the credit ratings and maturity dates to assess interest rate and credit risk.
- Confirm Voting Rights: Investigate the nature of "Shared" voting authority positions to understand if Westwood acts as a co-manager or has limited control over those specific assets.