WHG posts $1.5 million net income for Q2 as revenue climbs to $25.3 million amid ETF and private capital growth.
Westwood Holdings Group reported second-quarter net income of $1.5 million, or $0.17 per share, up from $1 million a year earlier, as revenue increased to $25.3 million from $23.1 million. Non-GAAP economic earnings reached $3 million, or $0.33 per share, driven by growth in its ETF and private energy secondaries businesses.
The firm faced $1.6 billion in net asset-management outflows, primarily in legacy large-cap value and small-cap institutional mandates. Assets under management and advisement totaled $17.9 billion at quarter-end. Westwood’s ETF platform surpassed $400 million in assets in July, while private capital commitments exceeded $500 million.
Westwood plans to launch the PWRX power-and-infrastructure ETF in September, targeting over $1 billion in combined assets across ETFs, private capital, and Managed Investment Solutions within the next year.