SEC Filing Summary: Westwood Holdings Group Inc.
Business Context and Reporting Period
Company: Westwood Holdings Group Inc.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Quarter ended March 31, 2025
Business Nature: The filing discloses the equity and debt securities held by the investment manager. Westwood Holdings Group Inc. operates as an investment advisor managing a diversified portfolio of publicly traded stocks, bonds, and exchange-traded funds (ETFs).
Key Financial Metrics and Portfolio Composition
Note: As a Form 13F, this filing reports the value of securities held, not the company's own operating revenue or profit.
- Portfolio Scope: The filing lists hundreds of individual holdings across various sectors, including Technology, Energy, Financials, Healthcare, and Real Estate.
- Top Equity Holdings (by Value):
- Microsoft Corp: $210,311,497
- JPMorgan Chase & Co.: $181,642,442
- Abbott Labs: $157,195,291
- Boise Cascade Co: $147,066,827
- Johnson & Johnson: $142,562,698
- Union Pacific Corp: $139,889,988
- Top Debt/Note Holdings (by Value):
- CenterPoint Energy Inc Note: $6,740,000
- Exact Sciences Corp Note: $5,895,000
- Live Nation Entertainment Inc Note: $8,356,000
- NextEra Energy Cap Hldgs Inc Note: $7,069,000
- ETF Exposure: Significant holdings in Vanguard and iShares ETFs, including the Vanguard Tax-Managed Funds (FTSE Developed Markets) valued at $160,660,821 and the iShares Core S&P 500 ETF valued at $39,567,312.
Material Changes and Voting Authority
The filing provides a snapshot of holdings as of the period end. It does not explicitly state percentage changes from the prior quarter in the text provided, but the "Voting Authority" columns indicate the nature of control:
- Sole Discretion: The majority of holdings are reported with "Sole" voting authority, indicating Westwood has full control over voting decisions for these securities.
- Shared/None: A portion of holdings (e.g., American Coastal Ins Corp, American HealthCare REIT) are reported with "None" or "Shared" voting authority, suggesting these may be held in client accounts where the client retains voting rights or the manager has limited authority.
- Derivatives: The filing includes Put/Call options and Principal amounts for various notes, indicating active use of derivatives and fixed-income instruments.
Outlook, Risks, and Contingencies
Management Commentary: This filing is a regulatory disclosure of holdings and does not contain management commentary, forward-looking guidance, or strategic outlook statements.
Risks and Contingencies:
- Market Risk: The portfolio is heavily exposed to large-cap U.S. equities and interest-rate-sensitive sectors (Energy, Utilities, REITs).
- Liquidity: Holdings include both highly liquid large-cap stocks and less liquid small-cap or specialized debt instruments.
- Concentration: Significant concentration in the top 10 holdings, which represent a substantial portion of the reported portfolio value.
Key Facts for Investor Verification
- Portfolio Size: Verify the total aggregate value of the portfolio by summing the "Value" column, as the filing lists individual positions rather than a total fund net asset value (NAV).
- Client vs. Proprietary: Determine if these holdings represent proprietary capital of Westwood Holdings Group or assets managed on behalf of external clients (Form 13F typically covers both).
- Turnover: Compare this list with the previous quarter's 13F filing to calculate portfolio turnover and identify significant entry/exit positions.
- Derivative Exposure: Review the "Put/Call" and "PRN" (Principal) columns to assess the extent of leverage or hedging strategies employed.
- Regulatory Status: Confirm that the filing was submitted within the required 45-day window following the quarter-end (March 31, 2025).