• Westwood One to Offer Football Fans Prime Time Action, With Expanded Pregame Shows for Monday Night Football, Weekday Specialty Programs, and More  • New Westwood One Sports Brand Site and App Make Accessing the Best in NFL Audio Coverage Easier This Season      NEW YORK, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s Westwood One (OTCQB: CMLS), the largest audio network in the U.S. and the official network audio broadcast partner of the NFL, announces its 2025 NFL Season programming lineup, as it cel ...

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were reported at $23.1 million, compared to $23.3 million in Q1 2025 and $22.7 million in Q2 2024, indicating flat revenues across these periods [19] - The company achieved a net income of $1 million or $0.12 per share in Q2 2025, an improvement from a loss of $2.2 million or $0.27 per share in Q2 2024 [20] - Economic earnings for the quarter were $2.8 million or $0.32 per share, compared to an economic loss of $0.5 million or $0.06 per share in Q2 2024 [20] Business Line Data and Key Metrics Changes - Assets under management (AUM) reached $18.3 billion, up from $16.8 billion in Q2 2024, with institutional assets at $9.2 billion (53%), wealth management assets at $4.2 billion (24%), and mutual fund assets at $3.9 billion (23%) [20] - The company experienced net outflows of $200 million in AUM but had market appreciation of $600 million during the quarter [21] Market Data and Key Metrics Changes - The S&P 500 finished the quarter with solid gains, reaching new all-time highs, despite significant market volatility earlier in the quarter [7] - Growth stocks outperformed value stocks across market capitalizations during this period [7] Company Strategy and Development Direction - The company is evolving into a multifamily office model to serve ultra-high-net-worth families, aligning with client demand and industry trends [13] - Westwood was added to the Russell 2000 Index, expected to enhance trading volume and broaden the institutional investor base [14] - The company launched 11 second-tier ETFs, expanding its innovative ETF platform [5] Management's Comments on Operating Environment and Future Outlook - Management expects continued market volatility driven by uncertain trade policies and varying economic indicators [10] - The focus on high-quality businesses with strong fundamentals is believed to position the company well for future performance [10] - The company remains confident in its strategic positioning and the value provided to clients, with a robust institutional pipeline [16] Other Important Information - The Board of Directors approved a regular cash dividend of $0.15 per common share, payable on October 1, 2025 [21] - The company has a strong pipeline of traditional business exceeding $2 billion and has started three new businesses in the last eighteen months [24] Q&A Session Summary Question: No questions were raised during the session - The management acknowledged the lack of questions and expressed appreciation for the audience's participation [22][23]

Company Overview - Westwood Holdings Group is an asset management firm offering investment strategies and wealth services[5] - The firm's Assets Under Management (AUM) totaled $18.3 billion as of June 30, 2025, including $17.3 billion in AUM and $0.9 billion in Assets Under Advisement (AUA)[7, 20] - Employees and directors own approximately 33% of the company's equity[6] Investment Strategies and Asset Allocation - U S Value Equity accounts for 51% of the firm's strategy breakdown[12] - Multi-Asset/Multi-Strategy represents 28% of the strategy breakdown[12] - Wealth strategy makes up 21% of the strategy breakdown[12] Client Base - Institutional Separate Accounts & Other Managed Accounts comprise 53% of assets by account type[12] - Wealth Management accounts for 24% of assets by account type[12] - Westwood Mutual Funds & ETFs represent 23% of assets by account type[12] Diversity and Inclusion - Women make up 41% of the company's employees[16] - Women hold 43% of the corporate board member positions[16] Financial Performance - The company's revenues for Q2 2025 were $23.1 million[20] - The company reported income of $1.0 million for Q2 2025[20]

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Financial statements for June 30, 2025, show total assets at $146.3 million, Q2 2025 net income of $1.0 million, and operating cash flow of $2.4 million for the first six months [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $15,403 | $18,847 | | Total assets | $146,279 | $149,989 | | Total liabilities | $23,921 | $27,657 | | Total stockholders' equity | $122,358 | $122,332 | - Total assets decreased slightly from **$150.0 million** at year-end 2024 to **$146.3 million** as of June 30, 2025, driven by a decrease in cash and investments[9](index=9&type=chunk) - Total liabilities decreased to **$23.9 million** from **$27.7 million**, primarily due to the settlement of contingent consideration and a reduction in compensation and benefits payable[9](index=9&type=chunk) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Key Operating Results (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $23,120 | $22,688 | $46,372 | $45,420 | | Net Operating Income (Loss) | $868 | $(4,178) | $800 | $(1,237) | | Net Income (Loss) | $1,031 | $(2,213) | $1,508 | $(47) | | Diluted EPS | $0.12 | $(0.27) | $0.17 | $0.01 | - The company returned to profitability in Q2 2025 with a **net income of $1.0 million**, compared to a **net loss of $2.2 million** in Q2 2024. This improvement was largely due to the absence of a **$4.8 million loss** from the change in fair value of contingent consideration recorded in the prior-year period[12](index=12&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) - For the six months ended June 30, 2025, total equity remained stable at **$122.4 million**. Key changes included **net income of $1.5 million**, offset by **dividends declared of $2.8 million** and the **cost of restricted stock returned for tax payments of $1.3 million**[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Category | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,403 | $11,685 | | Net cash used in investing activities | $(1,455) | $(1,524) | | Net cash used in financing activities | $(4,392) | $(6,813) | | **Net change in cash and cash equivalents** | **$(3,444)** | **$3,348** | - Net cash from operating activities decreased significantly to **$2.4 million** in the first half of 2025 from **$11.7 million** in the prior year, mainly due to payments for contingent consideration (**$4.4 million**) and a larger decrease in compensation payable[16](index=16&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Revenue by Account Type (Six Months Ended June 30, in thousands) | Account Type | 2025 | 2024 | | :--- | :--- | :--- | | Institutional | $20,880 | $19,189 | | Mutual Funds | $13,576 | $13,767 | | Wealth Management | $1,230 | $1,000 | | Trust Fees | $10,498 | $10,340 | | Other, net | $188 | $1,124 | | **Total revenues** | **$46,372** | **$45,420** | - The company operates two segments: Advisory and Trust. For the three months ended June 30, 2025, the Advisory segment generated **$18.0 million** in external revenues, while the Trust segment generated **$5.1 million**[37](index=37&type=chunk)[42](index=42&type=chunk) - Goodwill remained unchanged at **$39.5 million** as of June 30, 2025, with **$23.1 million** allocated to the Advisory segment and **$16.4 million** to the Trust segment. No impairment was recorded[58](index=58&type=chunk)[59](index=59&type=chunk) - On August 8, 2025, the Board of Directors declared a quarterly cash dividend of **$0.15 per share**[72](index=72&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **10% YoY AUM increase to $17.3 billion**, Q2 2025 revenue growth, and a solid liquidity position of $33.1 million Assets Under Management (AUM) by Category (in millions) | Category | June 30, 2025 | June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | Institutional | $9,241 | $7,649 | 21% | | Wealth Management | $4,176 | $4,184 | 0% | | Mutual Funds | $3,924 | $3,943 | 0% | | **Total AUM** | **$17,341** | **$15,776** | **10%** | - For the six months ended June 30, 2025, total AUM increased by **$0.7 billion**, resulting from **$0.4 billion** in net inflows and **$0.3 billion** in market appreciation. Net inflows were primarily driven by the SmallCap Value strategy[96](index=96&type=chunk) Non-GAAP Economic Earnings Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Income (Loss) Attributable to WHG | $1,019 | $(2,243) | $1,497 | $53 | | Adjustments (Stock comp, amortization, etc.) | $1,773 | $2,085 | $3,809 | $2,451 | | **Economic Earnings (Loss)** | **$2,792** | **$(508)** | **$5,306** | **$2,504** | - The company's liquidity position as of June 30, 2025, included cash and liquid investments of **$33.1 million**, down from **$44.6 million** at the end of 2024[112](index=112&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No significant changes in quantitative and qualitative market risk disclosures were reported since the prior annual report - There have been no significant changes in market risk disclosures since the last annual report (Form 10-K for the year ended December 31, 2024)[121](index=121&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management confirmed effective disclosure controls and procedures with no material changes to internal controls over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by this report[122](index=122&type=chunk) - There were no changes in internal controls over financial reporting during the quarter ended June 30, 2025, that materially affected, or are reasonably likely to materially affect, these controls[123](index=123&type=chunk) [PART II OTHER INFORMATION](index=26&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - The company reports that there are no legal proceedings[124](index=124&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors were reported since the last annual report - There have been no material changes to the risk factors previously disclosed in the company's Form 10-K[126](index=126&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No common stock repurchases were made during the three months ended June 30, 2025, under the existing program - The company did not repurchase any of its common stock during the three months ended June 30, 2025[127](index=127&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and iXBRL financial data - Exhibits filed with the report include an office lease modification, CEO/CFO certifications (Rule 13a-14(a) and Section 906), and financial statements in iXBRL format[132](index=132&type=chunk)

[Overview of Q2 2025 Performance](index=1&type=section&id=Overview%20of%20Q2%202025%20Performance) Westwood Holdings Group achieved a significant profit turnaround and operational milestones in Q2 2025, including AUM growth and strategic index inclusion [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Westwood Holdings Group achieved a significant year-over-year net income turnaround in Q2 2025, with stable revenues, increased AUM, and a strong debt-free balance sheet Key Financial Metrics | Financial Metric | Q2 2025 (USD) | Q1 2025 (USD) | Q2 2024 (USD) | | :--- | :--- | :--- | :--- | | Total Revenues | $23.1M | $23.3M | $22.7M | | Net Income (Loss) | $1.0M | $0.5M | ($2.2M) | | Diluted EPS | $0.12/share | $0.05/share | ($0.27)/share | | Economic Earnings | $2.8M | $2.5M | ($0.5M) | | AUM & AUA | $18.3B | - | $16.8B | | Dividend per Share | $0.15/share | - | - | - The company's financial position is strong, with **$33.1 million** in cash and liquid investments as of June 30, 2025, an increase of **$6.0 million** from the first quarter, and no debt[4](index=4&type=chunk) [Operational & Strategic Highlights](index=1&type=section&id=Operational%20%26%20Strategic%20Highlights) Key operational achievements include Russell 2000 Index inclusion, significant ETF asset growth, strong intermediary sales, and outperformance across multiple investment strategies - WHG was added to the Russell 2000 Index in its 24th year as a public company[1](index=1&type=chunk)[2](index=2&type=chunk) - The Enhanced Midstream Energy ETF (MDST) exceeded **$100 million** in assets and maintains a **10.2% p.a. distribution rate**[1](index=1&type=chunk)[2](index=2&type=chunk) - Several investment strategies, including SmallCap Value, AllCap Value, and MidCap Value, beat their primary benchmarks, with MidCap Value, Credit Opportunities, and Enhanced Midstream Income achieving top quartile rankings among peers[4](index=4&type=chunk) - In partnership with WHG, WEBs Investments launched 11 sector funds, expanding its Defined Volatility℠ ETF suite[1](index=1&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents the detailed consolidated financial statements, including operations, balance sheets, and cash flows, for the reporting periods [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) This section provides a detailed breakdown of the company's financial performance, including revenues, expenses, and net income for both the three-month and six-month periods ending June 30, 2025, with comparisons to the prior year [Quarterly Performance (Three Months Ended June 30, 2025)](index=4&type=section&id=Quarterly%20Performance%20%28Three%20Months%20Ended%20June%2030%2C%202025%29) Q2 2025 saw total revenues of **$23.1 million** and net income of **$1.0 million**, a significant improvement year-over-year due to the absence of contingent consideration loss Quarterly Consolidated Statements of Operations (USD thousands) | Item | Q2 2025 (USD thousands) | Q1 2025 (USD thousands) | Q2 2024 (USD thousands) | | :--- | :--- | :--- | :--- | | **Total Revenues** | **$23,120** | **$23,252** | **$22,688** | | Asset-based fees | $17,955 | $17,731 | $17,139 | | Trust fees | $5,069 | $5,429 | $5,227 | | **Total Expenses** | **$22,252** | **$23,320** | **$26,866** | | Employee compensation | $13,472 | $14,501 | $13,638 | | Loss on contingent consideration | $0 | $0 | $4,807 | | **Net Income (Loss) to WHG** | **$1,019** | **$478** | **($2,243)** | [Year-to-Date Performance (Six Months Ended June 30, 2025)](index=5&type=section&id=Year-to-Date%20Performance%20%28Six%20Months%20Ended%20June%2030%2C%202025%29) Year-to-date total revenues increased to **$46.4 million**, with net income reaching **$1.5 million**, a substantial turnaround from the prior year driven by higher asset-based fees Year-to-Date Consolidated Statements of Operations (USD thousands) | Item | Six Months Ended June 30, 2025 (USD thousands) | Six Months Ended June 30, 2024 (USD thousands) | | :--- | :--- | :--- | | **Total Revenues** | **$46,372** | **$45,420** | | Asset-based fees | $35,686 | $33,956 | | **Total Expenses** | **$45,572** | **$46,657** | | Employee compensation | $27,973 | $28,349 | | **Net Income to WHG** | **$1,497** | **$53** | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet as of June 30, 2025, reflects total assets of **$146.3 million**, total liabilities of **$23.9 million**, and **$120.3 million** in stockholders' equity, with contingent consideration settled Consolidated Balance Sheets (USD thousands) | Item | June 30, 2025 (USD thousands) | December 31, 2024 (USD thousands) | | :--- | :--- | :--- | | **Total Assets** | **$146,279** | **$149,989** | | Cash and cash equivalents | $15,403 | $18,847 | | Investments, at fair value | $19,768 | $27,694 | | Goodwill | $39,501 | $39,501 | | **Total Liabilities** | **$23,921** | **$27,657** | | Contingent consideration | $0 | $4,657 | | **Total Stockholders' Equity** | **$120,306** | **$120,291** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly decreased to **$2.4 million** for the six months ended June 30, 2025, resulting in a **$3.4 million** net decrease in cash and equivalents Consolidated Statements of Cash Flows (USD thousands) | Item | Six Months Ended June 30, 2025 (USD thousands) | Six Months Ended June 30, 2024 (USD thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,403 | $11,685 | | Net cash used in investing activities | ($1,455) | ($1,524) | | Net cash used in financing activities | ($4,392) | ($6,813) | | **Net change in cash** | **($3,444)** | **$3,348** | | **Cash at end of period** | **$15,403** | **$23,770** | [Non-GAAP Financial Measures](index=8&type=section&id=Non-GAAP%20Financial%20Measures) This section reconciles GAAP net income to Economic Earnings, providing an adjusted view of the company's core operating performance [Reconciliation to Economic Earnings](index=8&type=section&id=Reconciliation%20to%20Economic%20Earnings) Economic Earnings, a non-GAAP measure, significantly improved to **$2.8 million** in Q2 2025 and more than doubled year-to-date, providing a clearer view of underlying operating performance - Economic Earnings are defined as GAAP net income adjusted for non-cash equity-based compensation, amortization of intangible assets, and deferred taxes related to goodwill[17](index=17&type=chunk) Economic Earnings Reconciliation - Quarterly (USD thousands, except per share) | Item | Q2 2025 (USD thousands) | Q1 2025 (USD thousands) | Q2 2024 (USD thousands) | | :--- | :--- | :--- | :--- | | GAAP Net Income (Loss) | $1,019 | $478 | ($2,243) | | Stock-based compensation | $1,295 | $1,327 | $1,397 | | Intangible amortization | $1,037 | $1,045 | $1,032 | | **Economic Earnings (Loss)** | **$2,792** | **$2,514** | **($508)** | | **Economic EPS** | **$0.32/share** | **$0.29/share** | **($0.06)/share** | Economic Earnings Reconciliation - Year-to-Date (USD thousands, except per share) | Item | Six Months 2025 (USD thousands) | Six Months 2024 (USD thousands) | | :--- | :--- | :--- | | GAAP Net Income | $1,497 | $53 | | **Economic Earnings** | **$5,306** | **$2,504** | | **Economic EPS** | **$0.60/share** | **$0.30/share** | [Company Information and Forward-Looking Statements](index=2&type=section&id=Company%20Information%20and%20Forward-Looking%20Statements) This section provides an overview of Westwood Holdings Group, details conference call information, and includes standard forward-looking statement disclaimers [About Westwood Holdings Group](index=2&type=section&id=About%20Westwood%20Holdings%20Group) Westwood Holdings Group is a boutique asset management firm offering diverse actively-managed investment strategies and wealth services, committed to client-first values and adaptability - WHG is a boutique asset management firm offering actively-managed and outcome-oriented investment strategies, along with trust and wealth services[7](index=7&type=chunk) - The firm, originally woman-founded, emphasizes its commitment to incorporating diverse insights and operates based on core values of integrity, reliability, and teamwork[8](index=8&type=chunk) [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) The company scheduled a conference call and webcast to discuss its second quarter 2025 results on August 8, 2025, at 4:30 p.m. Eastern time - A conference call to discuss Q2 2025 results is scheduled for 4:30 p.m. Eastern time on the day of the release[6](index=6&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward%20Looking%20Statements) This section serves as a standard legal disclaimer, cautioning investors that statements in the press release that are not historical facts are subject to risks and uncertainties - The press release contains forward-looking statements as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934[9](index=9&type=chunk) - Investors are warned not to place undue reliance on these statements, as actual results may vary due to numerous factors including market conditions, competitive pressures, and other risks detailed in SEC filings[9](index=9&type=chunk)[10](index=10&type=chunk)

Core Insights - Westwood Holdings Group, Inc. (WHG) reported a significant increase in assets under management (AUM), reaching $18.3 billion, up from $16.8 billion a year ago [2][3] - The company achieved several milestones, including its addition to the Russell 2000 Index, enhancing institutional accessibility [2] - The Enhanced Midstream Energy ETF (MDST) surpassed $100 million in assets with a distribution rate of 10.2% per annum [1][2] Financial Performance - Second quarter net income was $1.0 million, compared to a net income of $0.5 million in the first quarter and a loss of $2.2 million in the same quarter last year [3][4] - Diluted earnings per share (EPS) for the second quarter was $0.12, an increase from $0.05 in the first quarter and a loss of $0.27 in the second quarter of 2024 [3][4] - Non-GAAP Economic Earnings for the second quarter were $2.8 million, or $0.32 per share, compared to $2.5 million, or $0.29 per share, in the first quarter [3][4][6] Revenue and Expenses - Quarterly revenues totaled $23.1 million, slightly down from $23.3 million in the first quarter but up from $22.7 million a year ago [6] - Total expenses for the second quarter were $22.3 million, down from $23.3 million in the first quarter and significantly lower than $26.9 million in the second quarter of 2024 [6] - The company held $33.1 million in cash and liquid investments as of June 30, 2025, an increase of $6.0 million from the first quarter [6] Dividends and Equity - Westwood declared a cash dividend of $0.15 per common share, payable on October 1, 2025, to stockholders of record on September 2, 2025 [6] - Stockholders' equity totaled $120.3 million, with no debt reported [6]

Company Overview - Westwood Holdings Group, Inc. (NYSE: WHG) is a boutique asset management firm that provides a variety of actively-managed and outcome-oriented investment strategies, along with trust and wealth services to institutional, intermediary, and private wealth clients [2][3] - The firm has a client-first approach that has fostered strong, long-term relationships, emphasizing bespoke investment strategies and exceptional client service for over 40 years [2] Upcoming Earnings Release - The company will release its second quarter 2025 earnings after the close of the New York Stock Exchange on August 8, 2025 [1] - Following the earnings release, a live audio webcast and conference call will be held at 4:30 PM Eastern Time [1] Conference Call Details - Registration is required to join the conference call, and participants will receive a personalized PIN after registering [2] - The webcast can be accessed through the company's investor relations website [2] Company Culture and Values - Westwood emphasizes a diverse team that reflects its origins as a woman-founded firm, incorporating varied insights into its services [3] - The company's core values include integrity, reliability, responsiveness, adaptability, teamwork, and a focus on driving results, which support its pursuit of excellence [3]

Core Viewpoint - WEBs Investments Inc. has launched the WEBs Defined Volatility Sector ETFs, a suite of 11 funds that apply a Defined Volatility strategy to individual sectors of the S&P 500, allowing investors to manage risk while pursuing market upside [1][2]. Group 1: Product Details - The new ETFs track Defined Volatility indices created by Syntax, providing exposure to underlying Select Sector SPDR ETFs [2]. - Each fund evaluates short-term realized volatility daily based on the previous 21 trading days, adjusting exposure to the underlying ETF or reallocating to cash equivalents or U.S. Treasuries based on volatility levels [2]. - The Defined Volatility rates for the ETFs range from 20% to 30%, depending on the sector [3]. Group 2: Strategic Benefits - The Defined Volatility Sector ETFs offer investors precise control over risk and sector exposure, enabling tactical sector rotation and fine-tuning within broader portfolios [2][3]. - The approach aims to provide a more stable investment experience and better risk-adjusted returns for sector-focused allocations [2]. Group 3: Company Background - WEBs Investments Inc. was founded in 2024 by industry veterans and is dedicated to developing innovative investment strategies [5]. - Westwood Holdings Group, Inc. provides operational and distribution support for the new ETFs, leveraging over 40 years of experience in asset management [6][4].

Group 1 - Westwood Holdings Group (NYSE: WHG) has experienced positive performance in 2023, particularly in fund inflows, aligning with favorable trends in value and small-cap factors, to which the company is over-indexed [1] - The positive trend in fund inflows is expected to continue into the second quarter of 2025 [1] Group 2 - Quipus Capital adopts a long-only investment strategy, focusing on operational aspects and the long-term earnings potential of companies rather than market-driven dynamics [2] - The investment philosophy emphasizes holding companies independently of future price movements, with most recommendations being holds [2] - The approach aims to provide valuable information for future investors while maintaining a healthy skepticism towards a bullish market [2]

Core Insights - Westwood Holdings Group's Westwood Salient Enhanced Midstream Income ETF (MDST) has surpassed $100 million in assets under management, indicating strong investor engagement and confidence in the fund's strategy [1][4][5] - The fund has achieved an annualized distribution rate of 10.2%, distributed monthly, reflecting its objective of providing a steady income stream [2][7] - MDST employs a covered-call strategy to enhance income through options premiums, targeting the midstream energy sector, which is characterized by stability and strong cash flows [3][4] Company Overview - Westwood Holdings Group is a boutique asset management firm that offers a range of actively-managed investment strategies and wealth services to various client segments [10] - The firm emphasizes a client-first approach, aiming to build long-term relationships through tailored investment strategies and exceptional service [10][11] Fund Performance - As of March 31, 2025, MDST reported a net asset value (NAV) return of 22.95% since inception, with a market price return of 23.19% [5] - The fund has an expense ratio of 0.80%, indicating a relatively low cost structure for investors [5] Investment Strategy - MDST focuses on providing targeted exposure to midstream energy infrastructure, allowing investors to benefit from cash flow strength while managing risk through its investment approach [3][4] - The fund's structure is designed to be tax-efficient, avoiding the need for investors to file a K-1, which is typically required for investments in master limited partnerships (MLPs) [4][19]