Westwood Holdings Group (WHG) Q4 2025 earnings summary

Executive summary

• Achieved significant milestones in 2025, including ETF franchise surpassing $200 million and closing a $300 million private equity fund, with firmwide AUM reaching $17.4 billion at year-end.

• Revenues for Q4 2025 were $27.1 million, up from $24.3 million in Q3 and $25.6 million in Q4 2024, driven by ETF and private energy fund growth.

• Full-year net income was $7.1 million, a significant increase from $2.2 million in 2024.

• The firm is publicly traded on NYSE, with 33% employee and director ownership, and celebrated 43 years as a female-founded company in 2025.

• Wealth division began a multiyear transformation to enhance client experience and scalability.

Financial highlights

• Q4 2025 revenues were $27.1 million, with net income of $1.9 million and diluted EPS of $0.21.

• Full-year 2025 revenues reached $97.8 million, with net income of $7.1 million and diluted EPS of $0.79.

• Economic Earnings for Q4 2025 were $3.3 million ($0.36/share), and for the full year $14.3 million ($1.61/share).

• Cash and liquid investments at year-end were $44.1 million, with no debt.

• Stockholders' equity stood at $125.6 million at year-end 2025.

Segment performance

• Institutional assets comprised $8.3 billion (50%), wealth management $4.3 billion (26%), and mutual funds $3.9 billion (24%) of AUM.

• Enhanced Balanced, Total Return, Income Opportunity, Multi-Asset Income, Alternative Income, MLP & Energy Infrastructure, and related ETFs outperformed benchmarks in Q4.

• Net outflows of $1 billion in AUM were offset by $1 billion in market appreciation.

• Large Cap Value product saw significant outflows, mostly from a low-fee sub-advisory client.

• SMID-Cap and Small-Cap Value strategies gained traction, with a new $450 million defined contribution plan expected.