Assets Under Management (AUM) - Assets Under Management (AUM) decreased by $2.3 billion to $11.5 billion as of September 30, 2022, compared to $13.8 billion a year earlier, representing a 17% decline[92] - The average AUM for Q3 2022 was $11.8 billion, down from $14.1 billion in Q3 2021[92] - For the nine months ended September 30, 2022, AUM decreased by $3.0 billion, attributed to market depreciation of $2.6 billion and net outflows of $0.5 billion[97] - The total AUM for Wealth Management decreased by 17% to $3.5 billion as of September 30, 2022, from $4.2 billion a year earlier[92] Revenue and Financial Performance - Total revenues decreased by $2.5 million, or 14%, to $15.4 million for the three months ended September 30, 2022, compared to $17.9 million for the same period in 2021[101] - Asset-based advisory fees decreased by $1.5 million, or 13%, and trust fees decreased by $0.8 million, or 13%, primarily due to lower average AUM[101] - The company’s revenues are primarily derived from investment advisory fees, which are calculated based on a percentage of AUM[79] - The company experienced a significant concentration of revenues from a small number of customers, which poses a risk to its financial stability[74] - Net income for the three months ended September 30, 2022, was a loss of $1.175 million, compared to a net income of $1.879 million for the same period in 2021, representing a 163% decrease[112] - Economic Earnings for the three months ended September 30, 2022, were $800,000, a decrease of 78% from $3.706 million for the same period in 2021[112] Expenses - Employee compensation and benefits decreased by $0.8 million to $9.5 million compared to $10.3 million for 2021, attributed to lower commissions and incentive compensation[102] - Professional services expenses increased by $1.0 million, or 129%, to $1.7 million compared to $0.7 million for 2021, primarily due to expenses related to the pending acquisition of Salient[102] Acquisition - The company announced the acquisition of Salient's asset management business for an upfront payment of $35 million, with potential deferred payments of up to $25 million based on revenue retention and growth targets[77] - The announced acquisition of Salient's asset management business will require an upfront cash payment of $35.0 million upon closing, with deferred payments of up to $25.0 million based on revenue retention and growth targets[114] Cash Flow and Investments - Cash flow provided by operating activities was $15.3 million for the nine months ended September 30, 2022, compared to $21.1 million for the same period in 2021[116] - Cash and short-term investments totaled $74.0 million as of September 30, 2022, down from $80.2 million as of December 31, 2021[119] - The company had no debt as of September 30, 2022, and working capital was $74.6 million[115] Contractual Obligations and Accounting Policies - As of September 30, 2022, there have been no material changes to the company's contractual obligations since December 31, 2021[122] - There have been no significant changes in the company's critical accounting policies and estimates since December 31, 2021[123] - The company refers to recently issued accounting guidance in its Condensed Consolidated Financial Statements[124] - There have been no significant changes in the company's disclosures about market risk since the Annual Report for the year ended December 31, 2021[125] Client Flows - Net client flows for the three months ended September 30, 2022, resulted in outflows of $0.2 billion, primarily from the LargeCap Value strategy[95] - The company reported a market depreciation of $0.4 billion for the three months ended September 30, 2022[95] - Trust fees are generally based on a percentage of AUM and are negotiated separately with each client, contributing to overall revenue[80]

| --- | --- | |------------------------------------|---------------------------| | | | | | | | | Investing Where It Counts | | Westwood Holdings Group, Inc. | | | | | | Investing Where It Counts Overview | | High-Conviction Investing | Outcome-Oriented Solutions westwoodgroup.com Westwood Holdings Group, Inc. | Overview 2 Investing Where It Counts Westwood | Forward With Resolve 2 Firm Overview We are a focused investment management boutique and wealth management firm offering high-conviction equity and out ...

Westwood Holdings Group, Inc. (NYSE:WHG) Q2 2022 Earnings Conference Call July 27, 2022 4:30 PM ET Company Participants Julie Gerron - General Counsel Brian Casey - Chief Executive Officer Terry Forbes - Chief Financial Officer Conference Call Participants Macrae Sykes - Gabelli Operator Hello. Thank you for standing by and welcome to Westwood Holdings Group, Inc. Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now li ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ...

| --- | --- | |----------|-------| | | | | Overview | | High-Conviction Investing | Outcome-Oriented Solutions westwoodgroup.com Westwood Holdings Group, Inc. | Overview 2 Investing Where It Counts Westwood | Forward With Resolve 2 Firm Overview We are a focused investment management boutique and wealth management firm offering high-conviction equity and outcome-oriented solutions. Our investment services can address a wide range of investment objectives and challenges for institutional investors, financial ...

Westwood Holdings Group, Inc. (NYSE:WHG) Q1 2022 Earnings Conference Call April 27, 2022 4:30 PM ET Company Participants Brian Casey – President & Chief Executive Officer Julie Gerron – General Counsel & Chief Compliance Officer Terry Forbes – Chief Financial Officer Conference Call Participants Macrae Sykes – GAMCO Investors Inc. Operator Good day and thank you for standing by. Welcome to the First Quarter 2022 Westwood Holdings Group, Inc. Earnings Conference Call. At this time, all participants are in a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 193 ...

Asset Management - As of December 31, 2021, Westwood Management and Westwood Trust collectively managed assets valued at approximately $14.5 billion[9]. - The Westwood Funds® had AUM of $3.0 billion as of December 31, 2021[29]. - The ten largest clients accounted for approximately 22% of fee revenues for the year ended December 31, 2021[27]. - The investment strategies include LargeCap Value, Income Opportunity, and SmallCap Value, each with over $1 billion in AUM[21]. - As of December 31, 2021, non-U.S. clients represented approximately 1% of the company's assets under management (AUM), indicating potential for international growth[51]. - The company has significant capacity to manage additional assets across its existing range of investment strategies[46]. Growth Strategy - Westwood's growth strategy aims to expand AUM by developing new client relationships and acquiring new investment strategies from third parties[27]. - The company aims to generate growth from new and existing clients and consultant relationships while expanding intermediary distribution[44]. - The company has expanded its intermediary distribution team to accelerate growth in top markets[49]. - The company is continually evaluating strategic corporate development opportunities, including acquisitions of asset management firms[50]. New Products and Services - In 2021, Westwood launched three new mutual funds: Westwood Quality AllCap, Westwood Quality MidCap, and Westwood SmallCap Growth[17]. - Westwood Trust provides fiduciary services including financial planning and customizable trust services, typically for clients with at least $1 million in investable assets[30]. - The technology transformation initiated with InvestCloud has led to the launch of online digital portals for clients, enhancing access to financial information[14]. - The company has invested significantly in enhancing its digital capabilities, including moving to cloud-based technology and developing digital client portals[47]. Workforce and Diversity - Approximately 43% of the company's workforce was female, and minorities represented approximately 25% of the workforce as of December 31, 2021[67]. - The company had 130 full-time employees as of December 31, 2021, with no labor union representation[68]. - Approximately 43% of employees are women, with many in senior positions, and about 25% self-identify as members of minority communities[74]. ESG and Corporate Responsibility - The company integrates ESG issues into its investment process, emphasizing the importance of sustainability in company selection[73]. - The company has established a Responsible Investment Committee and a Corporate Responsibility Committee to oversee ESG integration and corporate sustainability strategy[77]. - The company supports the UN Principles for Responsible Investment and integrates ESG analysis into its investment process[75][76]. - Proxy voting rights are viewed as valuable portfolio assets, with a commitment to exercise voting responsibilities in the best interests of clients[83]. - The company engages in community involvement and corporate giving, donating to local and national nonprofits annually[84]. - Initiatives to calculate carbon footprints and buy carbon credits are part of the company's environmental responsibility efforts[85]. Financial Performance and Risks - Revenues are primarily generated from fees derived as a percentage of Assets Under Management (AUM), which is subject to market risks[253]. - A hypothetical 10% decrease in average AUM during the year ended December 31, 2021, would have reduced reported consolidated total revenue by approximately $7 million[254]. - The company does not currently participate in any hedging activities or utilize derivative financial instruments[253]. - Cash equivalents and other investment instruments are exposed to financial market risk due to fluctuations in interest rates, which may affect interest income[255].

Westwood Holdings Group, Inc. (NYSE:WHG) Q4 2021 Earnings Conference Call February 9, 2022 4:30 PM ET Company Participants Julie Gerron - General Counsel & Chief Compliance Officer Brian Casey - President & Chief Executive Officer Terry Forbes - Chief Financial Officer Conference Call Participants Mac Sykes - GAMCO Subhash Kithany - SK Group Inc. Operator Thank you for standing by and welcome to the Westwood Holdings Group Incorporated’s Fourth Quarter 2020 [ph] Earnings Conference Call. At this time, all p ...

Investing Where It Counts Westwood Investor Relations Presentation A Time Like No Other. Forward With Resolve. As of December 31, 2021 1 Investing Where It Counts High-Conviction Investing | Outcome-Oriented Solutions westwoodgroup.com Westwood Holdings Group, Inc. | Overview 2 Investing Where It Counts Westwood | Forward With Resolve AUM1| $14.5 B Firm Overview We are a focused investment management boutique and wealth management firm offering high-conviction equity and outcome-oriented solutions. Our inve ...