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 September 30, 2021
Context: This filing discloses the equity securities held by Westwood Holdings Group Inc. as a registered investment manager. The document lists individual holdings, share counts, and voting authority but does not contain the company's own financial performance metrics (revenue, profit, cash flow).
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing details a diversified portfolio of common stocks, preferred shares, and corporate notes. Specific aggregate portfolio value is not explicitly stated in the text, but individual position values are provided in thousands of dollars.
- Top Equity Holdings (by Value):
- Microsoft Corp: $181,038,000 (642,157 shares)
- Home Depot Inc: $137,147,000 (417,799 shares)
- Honeywell Intl Inc: $118,887,000 (560,050 shares)
- Bank of America Corp: $130,383,000 (3,071,464 shares)
- Activision Blizzard Inc: $100,818,000 (1,302,720 shares)
- Notable Fixed Income/Note Holdings:
- Southwest Airlines Co Note: $24,219,000 (16,136,000 principal)
- Exact Sciences Corp Note: $15,216,000 (13,368,000 principal)
- Akamai Technologies Inc Note: $18,820,000 (15,486,000 principal)
- ETF Holdings: Significant positions in Vanguard and iShares ETFs, including Vanguard Tax-Managed Intl Fd ($98,364,000) and iShares Russell 1000 Value ETF ($69,909,000).
Material Changes and Voting Authority
Voting Authority: Westwood Holdings Group Inc. reports "Sole" voting authority for the vast majority of its equity positions. "Shared" voting authority is reported for select positions (e.g., 800 Flowers, Academy Sports, Accenture), and "None" for specific holdings (e.g., Alnylam Pharmaceuticals, Antero Resources).
Changes vs. Prior Period: The filing text provided is a static snapshot of holdings as of September 30, 2021. It does not contain comparative data against the prior quarter (June 30, 2021) to determine material increases or decreases in specific positions.
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a regulatory disclosure of holdings and does not include management discussion, financial guidance, or forward-looking statements regarding the manager's own business operations.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific operational risks or contingencies for Westwood Holdings Group Inc. are disclosed in this document.
Investor Verification Checklist
- Portfolio Concentration: Verify if the top 10 holdings (Microsoft, Home Depot, Bank of America, etc.) represent a significant concentration of risk relative to the total AUM.
- Fixed Income Exposure: Review the specific terms and credit ratings of the large corporate note positions (e.g., Southwest Airlines, Exact Sciences) to assess interest rate and credit risk.
- Derivatives: Confirm if the "Put/Call" column entries (mostly blank in this text) indicate any hedging strategies not fully detailed in the summary.
- Shared Authority: Investigate the nature of "Shared" voting authority positions to understand potential conflicts or co-investment structures.
- Valuation Timing: Ensure the share prices used for the "Value" column reflect the market price as of September 30, 2021, and not a subsequent date.