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Westwood (WHG)

Westwood Holdings Group, Inc. is a focused investment management boutique and wealth management firm.

WHG stock data

Investment data

Data from SEC filings
Top 50 of 401 long holdings
End of quarter 31 Mar 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$217.86M 706.62K 674.11K +4.8
$168.14M 4.08M 3.15M +29.3
$156.89M 885.25K 185.03K +378.4
$151.07M 1.01M 811.86K +24.9
$150.91M 552.36K 545.84K +1.2
$149.76M 577.47K 580.26K -0.5
$136.08M 896.65K 830.34K +8.0
$131.58M 439.58K 410.51K +7.1
$131.43M 257.72K 254.98K +1.1
$130.9M 672.72K 611.52K +10.0
$125.18M 1.13M 1.01M +12.1
$119.5M 931.03K 640.31K +45.4
$119.05M 1.18M 1.35M -12.8
$109.09M 330.46K 314.48K +5.1
$108.91M 623.73K 610.02K +2.2
$106.2M 898.23K NEW
$105.69M 350.81K 65.75K +433.5
$105.2M 1.05M 1.32M -20.6
$103.18M 1.74M 1.45M +19.3
$102.43M 356.16K 351.41K +1.4
$97.09M 764.88K 551.33K +38.7
$96.29M 1.73M 2.16M -19.9
$90.94M 297.06K 372.34K -20.2
Vanguard Tax-managed Intl FD
$89.7M 1.87M 1.92M -2.5
$89.39M 553.58K 558.68K -0.9
$88.48M 356.09K 357.03K -0.3
$88.27M 1.21M 1.68M -27.6
$88.23M 667.34K 680.75K -2.0
$88.15M 31.69K 30.85K +2.7
$86.2M 387.19K 386.08K +0.3
$85.06M 241.04K 271.62K -11.3
$84.86M 642.28K 637.36K +0.8
$84.11M 516.56K 637.36K -19.0
$83.9M 501.25K 508.55K -1.4
$83.36M 949.46K 1.06M -10.1
$82.65M 410.69K 384.23K +6.9
$82.45M 2.2M 2.74M -19.7
$82.22M 689.58K 907.15K -24.0
$81.93M 5.74M 5.06M +13.4
$81.81M 965.76K 875.35K +10.3
$81.3M 713.2K 784.42K -9.1
$81.23M 869.65K 938.62K -7.3
$81.07M 1.08M 1.21M -10.6
$80.92M 810.81K 65.76K +1132.9
$80.78M 364.27K 366.53K -0.6
$80.7M 1.29M 1.35M -5.1
$80.37M 2.52M 2.92M -13.7
$79.51M 1.2M 1.18M +1.1
$77.24M 916.15K 1.63M -43.8
$76.41M 1.63M 1.32M +23.6
Holdings list only includes long positions. Only includes long positions.

Calendar

27 Jul 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 21.98M 21.98M 21.98M 21.98M 21.98M 21.98M
Cash burn (monthly) (no burn) (no burn) 152.67K (no burn) (no burn) (no burn)
Cash used (since last report) n/a n/a 204.98K n/a n/a n/a
Cash remaining n/a n/a 21.77M n/a n/a n/a
Runway (months of cash) n/a n/a 142.6 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Jun 22 JCP Investment Management Common Stock, $0.01 par value Sell Dispose S Yes No 15.6934 482 7.56K 16,795
9 Jun 22 JCP Investment Management Common Stock, $0.01 par value Sell Dispose S Yes No 15.6934 12,000 188.32K 418,214
9 Jun 22 JCP Investment Management Common Stock, $0.01 par value Sell Dispose S Yes No 15.6934 11,518 180.76K 401,407
1 Jun 22 Leah Bennett common stock Sell Dispose S No No 14.95 3,000 44.85K 27,348
62.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 45 48 -6.3%
Opened positions 1 5 -80.0%
Closed positions 4 6 -33.3%
Increased positions 13 10 +30.0%
Reduced positions 22 20 +10.0%
13F shares Current Prev Q Change
Total value 81.11M 89.73M -9.6%
Total shares 5.29M 5.3M -0.0%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
JCP Investment Management 860.42K $13.18M 0.0%
Allspring Global Investments 586.39K $8.98M -0.0%
Renaissance Technologies 510.62K $7.82M -3.9%
GBL Gamco Investors 452.76K $6.94M -0.3%
Deprince Race & Zollo 419.18K $6.42M -0.3%
Vanguard 350.56K $5.37M -1.4%
Russell Investments 282.72K $4.33M +56.1%
Dimensional Fund Advisors 252.89K $3.87M -3.9%
King Luther Capital Management 252.88K $3.87M 0.0%
Ancora Advisors 222.18K $3.4M -1.1%
Largest transactions Shares Bought/sold Change
Russell Investments 282.72K +101.6K +56.1%
Arrowstreet Capital, Limited Partnership 11.31K -36.49K -76.3%
Employees Retirement System of Texas 82K +23.5K +40.2%
Renaissance Technologies 510.62K -20.59K -3.9%
Ergoteles 0 -14.88K EXIT
Bridgeway Capital Management 61.82K +11.66K +23.3%
North Star Investment Management 84.98K +11K +14.9%
D. E. Shaw & Co. 0 -10.32K EXIT
Dimensional Fund Advisors 252.89K -10.24K -3.9%
Two Sigma Advisers 18.4K -9.7K -34.5%

Financial report summary

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Risks
  • Our results of operations depend upon the market value and composition of AUM, which can fluctuate significantly based on various factors, some of which are beyond our control.
  • The investment management and wealth management industry is highly competitive and innovative.
  • Some of our strategies invest in the securities of non-U.S. companies, which involve foreign currency exchange, tax, political, social and economic uncertainties and risks.
  • Our business is subject to extensive regulation, which is subject to frequent change, with attendant compliance costs and serious consequences for violations; expansion into international markets and introduction of new products and services increases our regulatory and operational risks.
  • Our business involves risks of being engaged in litigation and liability that could increase our expenses and reduce our results of operations.
  • Due to the substantial cost and time required to introduce new investment strategies or expand the market for current strategies, we may not be able to successfully introduce investment strategies in a timely manner, or at all.
  • Damage to our reputation could harm our business and have a material adverse effect on our results of operations.
  • Our success depends on certain key employees and our ability to attract and develop new, talented professionals. Our inability to attract and retain key employees could compromise our future success.
  • Failure to perform operational tasks or the misrepresentation of products and services could have an adverse effect on our reputation and our business, financial condition and results of operations.
  • Failure to select appropriate third-party vendors and apply appropriate oversight of third-party vendors could disrupt our operations and have a material adverse effect on our business, financial condition and results of operations.
  • We are a holding company dependent on the operations and funds of our subsidiaries.
  • Failure to implement and maintain effective cyber security controls could disrupt our operations and have a material adverse effect on our results of operations, reputation and stock price.
  • Our business is vulnerable to systems failures that could have a material adverse effect on our business, financial condition and results of operations.
  • Misuse of assets and information in the possession of our employees and third-party vendors could damage our reputation and result in costly litigation and liability for our clients and us.
  • Our stock is thinly traded and may be subject to volatility.
  • Our organizational documents contain provisions that may prevent or deter another group from paying a premium over the market price to our stockholders to acquire our stock.
  • Distributions to our common stockholders have included and may in the future include a return of capital.
  • Actions of activist stockholders could cause us to incur substantial costs, divert the attention and resources of our management and the Board of Directors, and have an adverse effect on our business and stock price.
  • In addition to our Rights Agreement, our organizational documents contain provisions that may prevent or deter another group from paying a premium over the market price to our stockholders to acquire our stock.
  • Competitive fee pressures could reduce revenues and profit margins.
  • Our business is dependent on investment advisory, sub-advisory, and trust agreements that are subject to termination or non-renewal and investments we manage under such agreements may be redeemed. As a result, we could lose clients on very short notice.
  • A small number of clients account for a substantial portion of our business, and a reduction or loss of business with any of these clients could have a material adverse effect on our business, financial condition and results of operations.
  • The recent COVID-19 pandemic, and other potential outbreaks, could negatively impact our business, financial condition and results of operations.
  • Failure to correctly identify our strategic growth plan or execute our strategic plan could result in damage to our reputation and could have a material adverse effect on our business, financial condition and results of operations.
  • Various factors may hinder the declaration and payment of dividends.
  • We may not be able to fund future capital requirements on favorable terms, if at all.
  • Failure to properly identify and address conflicts of interest could harm our reputation or cause clients to withdraw funds, which could adversely affect our business and results of operations.
  • Insurance coverage may be inadequate to cover legal and regulatory proceedings.
  • Failure to maintain effective internal controls could have a material adverse effect on our business and stock price.
Management Discussion
  • ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Statements in this report and the Annual Report to Stockholders that are not purely historical facts, including, without limitation, statements about our expected future financial position, results of operations or cash flows, as well as other statements including, without limitation, words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “should,” “could,” “goal,” “potentially,” “may,” “designed” and other similar expressions, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results and the timing of some events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, without limitation, the risks described under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 and those risks set forth below:
  • •our ability to maintain an effective system of internal controls.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: announced, collaborate, complementary, customary, energy, estate, expand, focused, foresee, half, immaterial, infrastructure, license, optimization, portfolio, provision, real, retention, Salient, satisfaction, suite, tactical, transaction, upfront
Removed: February, January, privately