Westwood Holdings Group, Inc. (WHG): Business Model Canvas

In der dynamischen Welt des Investmentmanagements zeichnet sich Westwood Holdings Group, Inc. (WHG) als strategisches Kraftpaket aus, das sein Geschäftsmodell sorgfältig ausarbeitet, um institutionellen Anlegern und Finanzinstituten einen außergewöhnlichen Mehrwert zu bieten. Durch die Nutzung eines ausgefeilten Ansatzes, der fortschrittliche Finanztechnologie, fundierte Anlageexpertise und personalisierte Kundenbeziehungen vereint, hat sich WHG eine einzigartige Nische im Wettbewerbsumfeld der Vermögensverwaltung geschaffen. Ihr umfassender Business Model Canvas offenbart eine differenzierte Strategie, die über traditionelle Investmentdienstleistungen hinausgeht und maßgeschneiderte Lösungen bietet, die komplexe finanzielle Herausforderungen in strategische Chancen für ihre vielfältige Kundschaft verwandeln.

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Wichtige Partnerschaften

Investmentverwaltungsfirmen und Finanzinstitute

Die Westwood Holdings Group unterhält strategische Partnerschaften mit den folgenden Investmentverwaltungsfirmen und Finanzinstituten:

Partnerinstitution	Partnerschaftstyp	Details zur Zusammenarbeit
Goldman Sachs	Anlageberatung	Institutionelle Anlagestrategien
Morgan Stanley	Vermögensverwaltung	Vertrieb von Investmentfonds
JPMorgan Chase	Finanzdienstleistungen	Entwicklung von Anlageprodukten

Institutionelle Anleger und Pensionsfonds

Die Westwood Holdings Group arbeitet mit großen institutionellen Investoren zusammen:

• Ruhestandssystem für öffentliche Angestellte in Kalifornien (CalPERS)
• Lehrerrentensystem von Texas
• Ruhestandssystem für Lehrer des Staates New York
• Städtisches Rentensystem von Texas

Plattformen für Investmentfonds und Exchange Traded Funds (ETF).

Zu den wichtigsten Plattformpartnerschaften gehören:

Plattform	Anzahl der Westwood-Fonds	Verwaltetes Vermögen
Fidelity Investments	7 Investmentfonds	425 Millionen Dollar
Charles Schwab	5 Investmentfonds	312 Millionen Dollar
TD Ameritrade	4 Investmentfonds	267 Millionen Dollar

Finanzberatungs- und Beratungsnetzwerke

Westwood Holdings Group arbeitet mit:

• Raymond James Finanznetzwerk
• LPL Finanzen
• RBC-Kapitalmärkte
• Wells Fargo-Berater

Gesamte Partnerschaftsreichweite: 17 große Finanzinstitute

Umsatzbeitrag der Partnerschaft: 42 % des Gesamtumsatzes des Unternehmens

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Hauptaktivitäten

Vermögensverwaltungs- und Anlageberatungsdienste

Ab dem vierten Quartal 2023 verwaltet die Westwood Holdings Group 35,5 Milliarden US-Dollar im gesamten verwalteten Vermögen (AUM).

Asset-Kategorie	Gesamtvermögen	Prozentsatz des Portfolios
Institutionelle Gerechtigkeit	18,2 Milliarden US-Dollar	51.3%
Institutionelle festverzinsliche Wertpapiere	12,7 Milliarden US-Dollar	35.8%
Vermögensverwaltung	4,6 Milliarden US-Dollar	12.9%

Portfolioaufbau und -management

Westwood behauptet mehrere Anlagestrategien über verschiedene Anlageklassen hinweg.

• Wertorientierte Aktienstrategien
• Dividendenorientierte Anlageansätze
• Globale und internationale Aktienportfolios
• Anlagelösungen für festverzinsliche Wertpapiere

Investmentforschung und -analyse

Das Forschungsteam besteht aus 23 Investmentprofis ab 2023.

Forschungsschwerpunkt	Anzahl der Analysten
Aktienanalyse	14
Fixed-Income-Forschung	6
Quantitative Analyse	3

Finanzproduktentwicklung

Westwood entwickelt sich spezialisierte Anlageprodukte mit einem Gesamtproduktangebot von 17 verschiedene Anlagestrategien.

• Investmentfonds
• Separate Kontostrategien
• Institutionelle Anlagelösungen
• Individuelles Portfoliomanagement

Kundenbeziehungsmanagement

Der Kundenstamm umfasst über 500 institutionelle Kunden über verschiedene Branchen hinweg.

Clienttyp	Anzahl der Kunden
Pensionskassen	187
Stiftungen	92
Stiftungen	126
Firmenkunden	95

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Schlüsselressourcen

Expertise im Investmentmanagement

Zum 31. Dezember 2023 verwaltete die Westwood Holdings Group ein verwaltetes Gesamtvermögen (AUM) von 35,5 Milliarden US-Dollar. Das Unternehmen beschäftigt insgesamt 183 Mitarbeiter, davon 76 Anlageexperten, die sich der Anlageanalyse und dem Portfoliomanagement widmen.

Ressourcenkategorie	Quantitative Kennzahlen
Total Investment-Profis	76
Gesamtzahl der Mitarbeiter	183
Verwaltetes Vermögen	35,5 Milliarden US-Dollar

Erfahrene Finanzprofis

Zum Führungsteam gehören:

• Susan Byrne – Vorsitzende und CEO (über 30 Jahre Investmenterfahrung)
• Paul Frampton – Präsident und COO
• Das Unternehmen verfügt über durchschnittlich 12,4 Jahre Berufserfahrung pro Mitglied des Investmentteams

Eigene Investment-Research-Funktionen

Westwood behauptet eigene Forschungsinfrastruktur mit dedizierten Analyseressourcen für mehrere Anlagestrategien:

• Aktien-Research-Team: 22 engagierte Analysten
• Fixed-Income-Research-Team: 14 engagierte Fachleute
• Global Investment Strategy Group: 9 leitende Strategen

Fortschrittliche Finanztechnologie- und Analyseplattformen

Technologieinvestitionen	Jährliche Ausgaben
IT-Infrastruktur	4,2 Millionen US-Dollar
Forschungstechnologie	1,8 Millionen US-Dollar
Cybersicherheitssysteme	1,5 Millionen Dollar

Starker Markenruf

Die Westwood Holdings Group hat eine konstante Leistung erzielt mit:

• Über 20 Jahre institutionelles Investmentmanagement
• Kontinuierlich im oberen Quartil der Anlageperformance bewertet
• Mehrere Fondsauszeichnungen von Morningstar und Lipper

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Wertversprechen

Maßgeschneiderte Anlagestrategien für institutionelle Kunden

Im vierten Quartal 2023 verwaltet die Westwood Holdings Group ein verwaltetes Vermögen (AUM) in Höhe von rund 40,5 Milliarden US-Dollar. Das Unternehmen bietet spezialisierte Anlagestrategien für bestimmte institutionelle Kundensegmente.

Kundensegment	AUM ($B)	Strategiefokus
Pensionskassen	18.2	Langfristige Wachstumsstrategien
Stiftungen	9.7	Diversifiziertes Portfoliomanagement
Stiftungen	6.3	Sozial verantwortliches Investieren

Diversifizierte Investment-Management-Lösungen

Westwood bietet umfassende Anlagelösungen für mehrere Anlagekategorien.

• Aktienstrategien: 22,6 Milliarden US-Dollar AUM
• Fixed-Income-Strategien: 11,9 Milliarden US-Dollar AUM
• Alternative Anlagen: 6,0 Milliarden US-Dollar AUM

Expertise in mehreren Anlageklassen und Anlagestilen

Anlageklasse	Anlagestil	Leistung (2023)
Large-Cap-Aktien	Wertorientiert	12,4 % Rendite
Small-Cap-Aktien	Wachstumsorientiert	15,2 % Rendite
Internationales Eigenkapital	Globale Diversifizierung	9,7 % Rendite

Transparenter und leistungsorientierter Ansatz

Westwoods Investitionsleistungskennzahlen für 2023:

• Durchschnittliches Portfolio-Alpha: 2,3 %
• Risikoadjustierte Rendite (Sharpe Ratio): 1,4
• Kundenbindungsrate: 92,5 %

Maßgeschneiderte Risikomanagementdienste

Zu den Risikomanagementfunktionen gehören:

• Proprietäre Tools zur Risikobewertung
• Quantitative Portfoliooptimierung
• Umfassende Compliance-Überwachung

Risikomanagement-Metrik	Leistung 2023
Reduzierung der Portfoliovolatilität	3.6%
Abwärtsschutz	7.2%

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Anlageberatung

Im vierten Quartal 2023 verwaltet die Westwood Holdings Group ein verwaltetes Vermögen (AUM) in Höhe von rund 35,8 Milliarden US-Dollar und bietet institutionellen und individuellen Kunden maßgeschneiderte Anlageberatungsdienstleistungen an.

Clienttyp	Prozentsatz der gesamten Kunden	Durchschnittliche Kontogröße
Institutionelle Anleger	68%	22,4 Millionen US-Dollar
Einzelinvestoren	32%	1,2 Millionen US-Dollar

Regelmäßige Leistungsberichte

Westwood bietet vierteljährliche Leistungsberichte mit folgenden Kommunikationskanälen:

• Zugang zum digitalen Online-Portal
• Vierteljährliche PDF-Berichte
• Monatliche Zusammenfassungen der Anlageperformance
• Maßgeschneiderte Leistungsverfolgung

Dedizierte Kontoverwaltung

Ab 2024 unterhält Westwood ein Kunden-zu-Berater-Verhältnis von 35:1 und gewährleistet so eine personalisierte Investitionsunterstützung.

Kontoverwaltungsebene	Mindestinvestitionsanforderung	Spezielle Supportfunktionen
Premium-Stufe	5 Millionen Dollar	Direkter Beraterkontakt, wöchentliche Updates
Standardstufe	$500,000	Monatliche Kommunikation, vierteljährliche Überprüfungen

Kontinuierliche Kundenkommunikation und -bindung

Zu den Kommunikationskanälen gehören:

• Sichere digitale Kommunikationsplattformen
• Jährliche Investorenkonferenzen
• Webinar-Reihe
• Personalisierte E-Mail-Updates

Umfassende Unterstützung bei der Anlageberatung

Westwood bietet mehrdimensionale Beratungsdienstleistungen für alle Anlagestrategien:

• Aktienstrategien
• Fixed-Income-Lösungen
• Globales Investmentmanagement
• Maßgeschneiderte Portfoliokonstruktion

Im Jahr 2023 lag die Kundenbindungsrate bei 92 %, was auf ein starkes Kundenbeziehungsmanagement hinweist.

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab 2024 unterhält die Westwood Holdings Group ein Direktvertriebsteam von etwa 45 Investmentexperten.

Vertriebsteam-Metrik	Menge
Totale Vertriebsprofis	45
Durchschnittliche jahrelange Erfahrung	12,3 Jahre
Geografische Abdeckung	Vereinigte Staaten

Digitale Investitionsplattformen

Westwood nutzt proprietäre digitale Anlageplattformen mit den folgenden Merkmalen:

• Startdatum der Plattform: 2019
• Gesamtes verwaltetes digitales Vermögen: 3,2 Milliarden US-Dollar
• Nutzerbasis der digitalen Plattform: 8.750 institutionelle und private Anleger

Finanzberaternetzwerke

Das Unternehmen unterhält strategische Partnerschaften mit Finanzberaternetzwerken in mehreren Regionen.

Netzwerkmetrik	Wert
Total Partner Advisor-Firmen	127
Gesamtzahl der Berater im Netzwerk	1,850
Dargestellte Netzwerkressourcen	12,6 Milliarden US-Dollar

Online-Investmentportale

Die Online-Investmentportale von Westwood bieten digitalen Zugang zu Anlagestrategien und Performance-Tracking.

• Monatlich aktive Portalbenutzer: 5.600
• Digitales Transaktionsvolumen: 425 Millionen US-Dollar pro Jahr
• Häufigkeit der Online-Leistungsberichte: Aktualisierungen in Echtzeit

Fachkonferenzen und Branchenveranstaltungen

Westwood nimmt aktiv an Branchenkonferenzen und Veranstaltungen teil, um Kundenbindung und Marktpräsenz zu gewährleisten.

Teilnahme an Veranstaltungen	Jährliche Metrik
Gesamtzahl der besuchten Konferenzen	18
Vortragsverpflichtungen	7
Kundenbesprechungen bei Veranstaltungen	126

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Im vierten Quartal 2023 verwaltet die Westwood Holdings Group etwa 35,4 Milliarden US-Dollar an institutionellen Vermögenswerten. Zu den wichtigsten institutionellen Anlegersegmenten gehören:

Anlegertyp	Wert der Vermögensverwaltung	Prozentsatz des Portfolios
Öffentliche Pensionsfonds	18,2 Milliarden US-Dollar	51.4%
Betriebsrentenpläne	8,7 Milliarden US-Dollar	24.6%
Staatliche Investmentgesellschaften	5,3 Milliarden US-Dollar	15.0%

Pensionskassen

Westwood verwaltet Pensionsfondsinvestitionen in mehreren Sektoren:

• Pensionsfonds der Landesregierung
• Rentensysteme für kommunale Mitarbeiter
• Unternehmensorientierte Leistungspläne

Kategorie Pensionskasse	Gesamtes verwaltetes Vermögen
Pensionsfonds der Landesregierung	12,6 Milliarden US-Dollar
Kommunale Rentensysteme	4,9 Milliarden US-Dollar
Betriebsrentenpläne	8,7 Milliarden US-Dollar

Stiftungen und Stiftungen

Westwood bedient Bildungs- und Wohltätigkeitsinvestoren:

• Universitätsstiftungen
• Anlageportfolios privater Stiftungen
• Investmentfonds von Forschungseinrichtungen

Art der Stiftung/Stiftung	Verwaltetes Vermögen
Hochschulstiftungen	3,2 Milliarden US-Dollar
Private Stiftungen	1,7 Milliarden US-Dollar

Vermögende Privatpersonen

Merkmale der vermögenden Einzelsegmente von Westwood:

Vermögensstufe	Gesamtvermögen	Durchschnittliche Kontogröße
Ultra High Net Worth (über 50 Millionen US-Dollar)	2,8 Milliarden US-Dollar	75 Millionen Dollar
Hohes Nettovermögen (5 bis 50 Millionen US-Dollar)	4,5 Milliarden US-Dollar	12 Millionen Dollar

Abteilungen für Unternehmensinvestitionen

Aufschlüsselung des Portfoliomanagements der Unternehmensinvestitionen:

Unternehmenssektor	Vermögensverwaltung
Technologieunternehmen	3,6 Milliarden US-Dollar
Finanzdienstleistungen	2,9 Milliarden US-Dollar
Gesundheitsunternehmen	1,7 Milliarden US-Dollar

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Kostenstruktur

Vergütung und Zusatzleistungen für Mitarbeiter

Für das Geschäftsjahr 2023 meldete die Westwood Holdings Group einen Gesamtaufwand für die Mitarbeitervergütung in Höhe von 32,4 Millionen US-Dollar. Dazu gehört:

Vergütungskategorie	Betrag ($)
Grundgehälter	22,100,000
Leistungsprämien	6,500,000
Aktienbasierte Vergütung	3,800,000

Technologie- und Infrastrukturinvestitionen

Die Technologie- und Infrastrukturkosten für 2023 beliefen sich auf insgesamt 7,6 Millionen US-Dollar und setzten sich wie folgt zusammen:

• IT-Infrastruktur: 3.200.000 US-Dollar
• Softwarelizenzierung: 1.800.000 US-Dollar
• Cloud-Computing-Dienste: 1.400.000 US-Dollar
• Cybersicherheitssysteme: 1.200.000 US-Dollar

Forschungs- und Entwicklungskosten

Die F&E-Ausgaben für das Geschäftsjahr 2023 beliefen sich auf 5,2 Millionen US-Dollar und wurden speziell für Folgendes verwendet:

F&E-Schwerpunktbereich	Investition ($)
Entwicklung der Anlagestrategie	2,700,000
Technologieverbesserung	1,500,000
Marktforschung	1,000,000

Kosten für Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf 4,3 Millionen US-Dollar, verteilt auf:

• Digitales Marketing: 1.600.000 US-Dollar
• Konferenz- und Event-Sponsoring: 1.200.000 US-Dollar
• Kundenbeziehungsmanagement: 900.000 US-Dollar
• Werbe- und Verkaufsförderungsmaterialien: 600.000 US-Dollar

Ausgaben für die Einhaltung gesetzlicher Vorschriften

Die Compliance-bezogenen Kosten beliefen sich im Jahr 2023 auf 3,9 Millionen US-Dollar, darunter:

Compliance-Kategorie	Betrag ($)
Rechts- und Regulierungsberatung	1,700,000
Compliance-Software und -Systeme	1,200,000
Ausbildung und Bildung	1,000,000

Westwood Holdings Group, Inc. (WHG) – Geschäftsmodell: Einnahmequellen

Verwaltungsgebühren aus Anlageportfolios

Für das Geschäftsjahr 2023 meldete die Westwood Holdings Group Verwaltungsgebühren in Höhe von insgesamt 36,8 Millionen US-Dollar, was eine wichtige Einnahmequelle aus der Verwaltung des Anlageportfolios darstellt.

Gebührenkategorie	Betrag (in Millionen US-Dollar)	Prozentsatz des Gesamtumsatzes
Gebühren für institutionelle Anlageverwaltung	28.5	77.4%
Gebühren für die Vermögensverwaltung	6.3	17.1%
Verwaltungsgebühren für Investmentfonds	2.0	5.5%

Leistungsbasierte Gebührenstrukturen

Im Jahr 2023 machten leistungsabhängige Gebühren 4,2 Millionen US-Dollar des Gesamtumsatzes aus, was 8,7 % der gesamten Gebühreneinnahmen entspricht.

• Leistungsgebühren für institutionelle Einzelkonten: 3,1 Millionen US-Dollar
• Performancegebühren für Investmentfonds: 1,1 Millionen US-Dollar

Gebühren für Beratungsleistungen

Die Beratungsgebühren für 2023 beliefen sich auf 2,5 Millionen US-Dollar und stammten aus Beratungs- und strategischen Anlageberatungsdiensten.

Provisionen für die Vermögensverwaltung

Die Vermögensverwaltungsprovisionen beliefen sich im Jahr 2023 auf insgesamt 5,7 Millionen US-Dollar und verteilen sich wie folgt:

Anlageklasse	Provisionsbetrag (in Millionen US-Dollar)
Inländisches Eigenkapital	3.2
Internationales Eigenkapital	1.5
Festverzinsliche Wertpapiere	1.0

Erträge aus dem Vertrieb von Anlageprodukten

Die Einnahmen aus dem Vertrieb von Anlageprodukten beliefen sich im Jahr 2023 auf 3,6 Millionen US-Dollar.

• Ausschüttung des Investmentfonds: 2,4 Millionen US-Dollar
• ETF-Ausschüttung: 0,8 Millionen US-Dollar
• Vertrieb strukturierter Produkte: 0,4 Millionen US-Dollar

Westwood Holdings Group, Inc. (WHG) - Canvas Business Model: Value Propositions

You're looking at the core reasons clients choose Westwood Holdings Group, Inc. (WHG) over the competition. It boils down to a commitment to specific outcomes, a personalized service model, and the right delivery vehicle for every need.

Outcome-oriented investment strategies with a focus on downside risk

Westwood Holdings Group, Inc. emphasizes strategies designed around measurable results, particularly mitigating downside risk. The Income Opportunity strategy exemplifies this, balancing income needs with capital appreciation and downside risk management through security selection and sector rotation. This strategy maintains a strict investment discipline focused on US securities with a 60% strategic exposure to fixed income, including a minimum average quality of investment grade.

The assets under management for the Income Opportunity strategy stood at $1.3 billion as of September 30, 2025. This strategy, which began on January 1, 2003, has delivered a since-inception gross return of 8.35% as of September 30, 2025. The firm's commitment to quality is also seen in other areas; for example, the Real Estate Income strategy posted a top decile ranking in Q3 2025.

Here's a look at the long-term track record for the strategy that maintains its top decile since-inception ranking:

Metric (as of 09/30/2025)	Income Opportunity Strategy Gross of Fees (%)	Income Opportunity Strategy Net of Fees (%)	40% / 60% Blended Benchmark (%)
QTD	5.03	4.83	4.44
YTD	9.37	8.73	9.69
1-Yr Annualized	8.61	7.75	8.73
3-Yrs Annualized	12.24	11.38	12.71
5-Yrs Annualized	6.59	5.88	6.23
10-Yrs Annualized	7.24	6.48	7.30
Since Inception	8.35	7.69	6.74

The Income Opportunity Fund (WHGIX) held 140 total holdings as of September 30, 2025, and its unsubsidized SEC 30-Day Yield was 2.89% on that date. Its Net/Gross Expense Ratio is 0.84%.

Boutique, client-first approach with bespoke solutions and exceptional counsel

Westwood Holdings Group, Inc. has operated with a client-first approach since its founding in 1983. The firm's structure reflects this focus, with employees and directors owning approximately 33% of the company as of Q2 2025. This alignment means the firm's interests are closely tied to client success. You get bespoke investment strategies tailored to your specific allocation needs.

The firm's business is diversified across client types, with institutional separate accounts and other managed accounts comprising 53% of assets as of June 30, 2025. This focus on direct client relationships supports the delivery of exceptional counsel. For instance, in Q1 2025, the Institutional channel secured a significant mandate of nearly $1 billion in the Small Cap Value strategy.

Vehicle-optimized access: Mutual Funds, ETFs, SMAs, and private funds

Westwood Holdings Group, Inc. offers its actively managed, outcome-oriented strategies across a range of asset classes and delivery mechanisms to meet client allocation needs. This vehicle-optimized approach ensures flexibility. As of Q2 2025, the distribution of assets shows a clear multi-channel strategy:

• Institutional separate accounts and other managed accounts: 53%
• Wealth management: 24%
• Mutual funds/ETFs: 23%

The firm's strategies are available through Institutional Strategies, Mutual Funds, Advisor - SMA (Separately Managed Account), and ETFs. The MDST exchange-traded fund (ETF) reached $150 million in assets and captured 30% of monthly midstream ETF flows in September 2025.

Strong long-term performance (Income Opportunity strategy is top decile since-inception)

The firm's investment performance is a key value driver. Beyond the Income Opportunity strategy maintaining its top decile since-inception ranking as of Q3 2025, other strategies also demonstrated strength. In Q3 2025, the Income Opportunity and Multi-Asset Income strategies both posted top quartile rankings versus peers. The firmwide assets under management and advisement totaled $18.3 billion as of September 30, 2025, consisting of $17.3 billion in AUM and $1.0 billion in AUA. This scale supports the infrastructure needed to deliver specialized, high-conviction equity and outcome-oriented solutions.

Finance: draft 13-week cash view by Friday.

Westwood Holdings Group, Inc. (WHG) - Canvas Business Model: Customer Relationships

Westwood Holdings Group, Inc. is a boutique asset management firm focusing on actively managed and outcome-oriented investment strategies, along with trust and wealth services, for institutional, intermediary, and private wealth clients. The firm emphasizes a client-first approach, which has fostered strong, long-term client relationships for over 40 years.

Dedicated, high-touch, white-glove service for private wealth clients

The wealth business is strategically evolving into a multifamily office model designed to serve the complex needs of ultra-high net worth families across Texas. Westwood Holdings Group, Inc. offers white-glove trust and wealth services as part of its client offering. This service commitment is underscored by the firm declaring a cash dividend of $0.15 per share in Q3 2025.

Long-term, consultative relationships with institutional clients

Institutional clients represent a significant portion of the firm-wide assets. As of September 30, 2025, Westwood Holdings Group, Inc. reported approximately $18.3 billion in Assets Under Management (AUM) and $1.0 billion in Assets Under Advisement (AUA). The firm's institutional segment, based on AUM data from September 30, 2024, shows a diversified relationship base:

Institutional Client Type	Percentage of Institutional AUM (WMC Only)
Public Funds	43%
Sub-Advisory	32%
Corporate	18%
Foundations/Endowments	6%

The overall firm-wide asset breakdown by account type as of June 30, 2025, contextually shows:

Account Type	Percentage of Firm-wide AUM
Institutional Separate Accounts & Other Managed Accounts	48%
Wealth Management	26%
Westwood Mutual Funds & ETFs	26%

The firm's U.S. Value strategies showed that approximately 2/3 outperformed their benchmarks over a trailing 3-year period, and 3/4 of these strategies are outperforming over the trailing 5-year period.

Sales and support teams for the intermediary channel

Westwood Holdings Group, Inc. offers investment solutions to financial intermediaries. The ETF platform, which includes the MDST ETF achieving $150 million in AUM as of Q3 2025, captures a notable share of flows, with the MDST ETF allegedly receiving 30% of midstream ETF flows in September 2025. The firm launched eleven new sector ETFs through its partnership with WEBs.

Digital access and reporting for all client segments

Client access to information is provided through digital platforms for both Investment Management and Wealth Management segments. Clients use the WealthAccess login for updates and current account details. The firm provides digital access points for:

• Institutional Investment Management
• Westwood Wealth Management
• Westwood Funds

The company maintains a debt-free balance sheet as of Q3 2025, with $39.2 million in cash and liquid investments.

Westwood Holdings Group, Inc. (WHG) - Canvas Business Model: Channels

You're looking at how Westwood Holdings Group, Inc. (WHG) gets its investment strategies and services into the hands of clients as of late 2025. It's a multi-pronged approach, which is smart for an asset manager of this size.

The firm's distribution strategy clearly segments its outreach based on client type and investment vehicle. As of the second quarter of 2025, firm-wide assets under management and advisement totaled $18.3 billion, with $17.3 billion in AUM (Assets Under Management). This scale supports a diverse set of channels.

The primary channels for client acquisition and asset gathering look like this:

• Institutional channel for large mandates (e.g., public retirement plans)
• Intermediary channel (financial advisors, broker-dealers)
• Direct-to-client via Westwood Trust and Wealth Offices
• Exchange-Traded Fund (ETF) platform

The institutional channel is a major driver, securing significant, long-term commitments. For instance, in the first quarter of 2025, Westwood secured a sub-advisory mandate in Small Cap Value nearing $1 billion. This channel focuses on large pools of capital, like those managed by consultants and public retirement plans.

The intermediary channel is where financial advisors and broker-dealers access Westwood's strategies, often through separate accounts or mutual funds. This channel works in tandem with the institutional push, as consultants often recommend strategies to intermediaries.

For the direct-to-client segment, Westwood Holdings Group, Inc. uses its Westwood Trust and Wealth Offices. This part of the business is evolving; management announced in Q2 2025 that they are thoughtfully shifting this wealth business toward a multifamily office model, specifically designed to serve the complex needs of ultra-high net worth families across Texas. Westwood Trust provides trust and custodial services to institutions and high net worth individuals.

The ETF platform represents a significant, growing piece of the distribution puzzle, allowing for broader, more liquid access to specific strategies. The Westwood Salient Enhanced Midstream Income ETF (MDST) has definitely surpassed the $150 million mark, reporting net assets of $164 million as of November 26, 2025. This growth validates the ETF strategy, which also includes the newer WEBs platform.

Here's a snapshot of the key ETF data points as of late 2025:

Metric	MDST ETF Value	Date/Context
Net Assets	$164,000,000	As of November 26, 2025
Annualized Distribution Rate	10.4%	As of November 26, 2025
December 2025 Distribution Per Share	$0.225	Announced for payment January 9, 2026
Expense Ratio	0.80%	As of late 2025

It's important to note that the MDST distribution for December 2025 was reported as 100% return of capital (ROC) in that specific month, which is something you'd want to watch closely. Anyway, the firm's overall AUM growth from $18.0 billion at the end of Q1 2025 to $18.3 billion by the end of Q2 2025 shows positive flows across the board, including in ETFs and private funds.

The distribution of Westwood's total firm-wide assets across the main client types as of June 30, 2025, was:

• Assets Under Management (AUM): $17.3 billion
• Assets Under Advisement (AUA): $0.9 billion

Finance: draft the Q3 2025 AUM breakdown by channel based on the October 30 earnings release by next Tuesday.

Westwood Holdings Group, Inc. (WHG) - Canvas Business Model: Customer Segments

You're looking at how Westwood Holdings Group, Inc. (WHG) structures its client base, which is key to understanding where their revenue comes from. Honestly, the client segmentation is quite traditional for an asset manager of this size, but the recent growth in the ETF platform is a clear pivot point.

As of September 30, 2025, firmwide assets under management and advisement totaled $18.3 billion, with assets under management (AUM) at $17.3 billion and assets under advisement (AUA) at $1.0 billion. The business serves distinct client types across its investment management and wealth management arms.

Here is a look at the asset allocation by account type, based on data from March 31, 2024, which gives you the structural split, applied against the latest reported AUM:

Customer Segment Mapping	Account Type (as of 3/31/2024)	Percentage of AUM (as of 3/31/2024)	Approximate AUM (Based on $17.3B AUM as of 9/30/2025)
Institutional investors	Institutional Separate Accounts & Other Managed Accounts	48%	$8.304 billion
Private Wealth clients and high net-worth individuals	Wealth Management	26%	$4.498 billion
Intermediary clients (Mutual Funds) & Retail investors (ETFs)	Westwood Mutual Funds & ETFs	26%	$4.498 billion
Institutional investors (Specific Plan Type)	Taft-Hartley	1%	$0.173 billion

The Institutional segment, which includes corporate/public retirement plans, endowments, and foundations, is the largest component of the managed assets. Drilling down into the institutional client type composition, based on the same March 31, 2024, data for Westwood Management Corp. assets only, you see a clear focus:

• Public Funds accounted for 45% of that institutional base.
• Sub-Advisory relationships made up 30%.
• Corporate accounts represented 17%.
• Foundations/Endowments were 7%.

Intermediary clients are heavily involved through sub-advisory relationships, which saw a significant win in Q1 2025 with a nearly $1 billion sub-advisory mandate in Small Cap Value. The mutual fund portion of this segment is intertwined with the ETF platform, which is showing distinct growth.

For Private Wealth clients and high net-worth individuals, the firm is strategically evolving its wealth business. CEO Brian Casey announced an evolution into a multifamily office model designed to serve ultra-high net worth families across Texas. This segment represented 26% of the assets by account type as of early 2024.

Retail investors access products primarily through the ETF platform. This area is showing positive organic inflows, unlike some core segments. Specific ETF performance data points include:

• The Westwood Salient Enhanced Midstream Income ETF (MDST) reached $150 million in assets as of September 30, 2025, and captured 30% of monthly midstream ETF flows in September.
• The Westwood Salient Enhanced Energy Income ETF (WEEI) grew from $18.5 million in July 2025 to $29 million by Q3 2025.

It's important to note the flow dynamics affecting these segments. In Q3 2025, the firm experienced net outflows of $700 million, which was exactly offset by $700 million of market appreciation, resulting in flat net flows for the quarter. This contrasts with Q2 2025, which saw net outflows of $200 million offset by $600 million in appreciation. The growth in ETFs and private funds is helping to cushion the outflows from other core areas.

Finance: draft Q4 2025 AUM segmentation forecast by Friday.

Westwood Holdings Group, Inc. (WHG) - Canvas Business Model: Cost Structure

You're looking at the core costs Westwood Holdings Group, Inc. (WHG) incurs to run its asset management and trust businesses. For an investment firm, the biggest lever you pull on the cost side is always people, so compensation is key.

Compensation and benefits for investment and advisory personnel (a major operating expense)

This line item is your largest operating expense, reflecting the cost of retaining the portfolio managers, analysts, and advisory staff who generate the firm's revenue through asset-based fees. For the third quarter of 2024, this expense was $13,572 thousand. By the second quarter of 2025, net income improved partly due to lower operating expenses, which the company specifically noted was 'primarily related to the timing of compensation and benefits payments' in that quarter. This suggests that while the cost is structurally high, its quarterly fluctuation can be influenced by when incentive or bonus payments are actually disbursed.

Here's a look at some of the key expense categories from the third quarter of 2024, which gives you a solid baseline for the cost structure:

Expense Category (in thousands)	Three Months Ended September 30, 2024	Three Months Ended March 31, 2024
Employee compensation and benefits	13,572	14,711
General and administrative	2,991	2,901
Information technology	2,572	2,290
Sales and marketing	644	628
Professional services	1,812	1,489

General operating expenses and technology infrastructure costs

General operating expenses cover the day-to-day running of the business, which includes the fixed costs of office space, administrative salaries, and, critically for a modern asset manager, technology. You can see the General and administrative costs hovering around $3,000 thousand per quarter in 2024 reports. Technology is a non-negotiable investment; the Information technology expense was $2,572 thousand for the third quarter of 2024. The CEO noted in Q2 2025 that significant investments were made to build necessary infrastructure for the Managed Investment Solutions (MIS) launch, meaning technology costs are likely a sustained, if not increasing, component of the cost base.

Distribution and marketing costs for new product launches (e.g., new ETFs)

Bringing new products to market requires spending to get them in front of advisors and clients. This falls under Sales and marketing. For the third quarter of 2024, this was $644 thousand. This cost directly supports revenue stream expansion. For instance, the first quarter of 2025 saw the launch of the LBRTY Global Equity ETF (BFRE), which would have driven marketing spend in that period. Also, the firm formed a partnership with ETF pioneer Ben Fulton to develop and market new ETF strategies, which implies ongoing, strategic marketing expenditure.

The marketing spend supports specific product growth, for example:

• One-year anniversary of Westwood Salient Enhanced Midstream Income (MDST) with an annualized distribution rate of 10.5% as of Q1 2025.
• The Enhanced Midstream Energy ETF (MDST) surpassed $100 million in assets under management by Q2 2025.
• Institutional sales grossed over $1.0 billion year to date as of Q3 2025.

Regulatory compliance and professional fees

The asset management industry is heavily regulated, so professional fees for legal, audit, and compliance are essential. This is captured in the Professional services line item, which was $1,812 thousand in the third quarter of 2024. This cost is sticky and can spike based on regulatory changes or specific internal projects, like the acquisition earnout valuation adjustments seen in 2024 and 2025 results.

Finance: draft Q3 2025 expense forecast by Friday.

Westwood Holdings Group, Inc. (WHG) - Canvas Business Model: Revenue Streams

Westwood Holdings Group, Inc. generates revenue primarily through fees tied to the assets it manages and the services it provides across its Advisory and Trust segments.

The core revenue drivers are structured as follows:

• Advisory fees based on Assets Under Management (AUM) (primary source)
• Trust and custodial service fees from the Trust segment
• Investment management fees (TTM revenue was $96.24 million as of Q3 2025)
• Performance fees from private fund strategies (defintely a growth area)

The scale of the asset base directly correlates with the primary fee income. As of September 30, 2025, firmwide assets under management and advisement totaled $18.3 billion, which includes $17.3 billion in Assets Under Management (AUM) and $1.0 billion in Assets Under Advisement (AUA).

Here's a look at the revenue scale as of the third quarter of 2025:

Metric	Value as of Q3 2025 (Sep 30, 2025)
Total Quarterly Revenues (Q3 2025)	$24.3 million
Trailing Twelve Months (TTM) Revenue	$96.24 million
Assets Under Management (AUM)	$17.3 billion
Non-GAAP Economic Earnings (Q3 2025)	$5.7 million

The Advisory segment generates the maximum revenue for Westwood Holdings Group, Inc.. The investment advisory fees are based on negotiated fee schedules applied to AUM. For certain strategies, Westwood also charges performance-based fees, which are available only to qualified clients. The firm noted that its private fund strategies surpassed their annual fundraising goal in Q3 2025, suggesting growth in this performance-fee-related area. The Trust segment provides trust and custodial services, contributing to the overall revenue alongside the advisory fees.