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 ETF platform surpassed $200 million in AUM, and a new energy secondaries fund closed with over $300 million in commitments.

• Celebrated 43 years as a female-founded company in 2025, with significant diversity and ESG commitments.

Financial highlights

• Q4 2025 revenues were $27.1 million, up from $24.3 million in Q3 and $25.6 million in Q4 2024.

• Full-year 2025 revenues reached $97.8 million, compared to $94.7 million in 2024.

• Q4 net income was $1.9 million ($0.21/share), down from $3.7 million in Q3 and $2.1 million in Q4 2024.

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

• Economic earnings for 2025 were $14.3 million ($1.61/share), up from $7 million ($0.82/share) in 2024.

Outlook and guidance

• Anticipates continued market uncertainty but expects high-quality, value-oriented strategies to perform well.

• Strong pipeline with new client inflows expected, including a $450 million defined contribution plan.

• Bullish on ETF growth and further platform approvals.

• Management highlighted strong positioning for 2026, citing expanded ETF offerings and new institutional client wins.

• The company expects to build on recent initiatives and maintain disciplined execution.