Westwood Holdings Group reported Q3 2025 results that included net income of $3.7 million, diluted earnings per share of $0.41, and total revenue of $24.3 million, up from $23.7 million in Q3 2024. Non‑GAAP economic earnings rose to $5.7 million, compared with $1.1 million in the same quarter a year earlier.
The company’s flagship MDST ETF reached $150 million in assets, capturing 30 % of midstream ETF flows in September and maintaining an annualized indicated dividend yield exceeding 10 %. The ETF’s performance contributed to the firm’s overall fee growth.
Firmwide assets under management and advisement totaled $18.3 billion, comprising $17.3 billion in AUM and $1.0 billion in AUA. AUM is segmented as follows: institutional $9 billion (52 %), wealth management $4.3 billion (25 %), and mutual fund and ETF $4 billion (23 %). The firm experienced net outflows of $0.7 billion in AUM during the quarter, primarily from lower‑fee, large‑cap strategies. Westwood declared a cash dividend of $0.15 per common share, payable on January 2 , 2026, and reported a $1.6 billion pipeline, including a significant mandate for SMID‑cap products.
Management attributed the increase in net income to higher revenues, unrealized appreciation on private investments, and a partial offset from higher income taxes. The company noted that outflows were concentrated in lower‑fee, large‑cap strategies, and that the MDST ETF’s strong yield and market share helped offset these headwinds.
Strategically, Westwood surpassed its private‑fund fundraising target and launched 11 new sector ETFs through its WEBs partnership, expanding its product offering and market reach. The Income Opportunity strategy received a four‑star Morningstar rating upgrade while maintaining its top‑decile ranking, reinforcing the firm’s investment performance. Westwood’s debt‑free balance sheet and consistent dividend support its financial stability and long‑term growth prospects.
Overall, the Q3 2025 results demonstrate robust earnings growth, expanding fee income, and a diversified platform that positions Westwood for continued success in its ETF and private‑fund businesses.
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