[SCHEDULE 13D] WESTWOOD HOLDINGS GROUP, INC. SEC Filing

Rhea-AI Filing Summary

On 08/01/2025, Settian Capital LP, its managed vehicle PAVP Family Office Fund, LP, and Managing Partner Karl K. Segerberg filed a Schedule 13D disclosing beneficial ownership of 470,515 shares of Westwood Holdings Group (WHG), representing 5.0 % of the 9,379,680 shares outstanding. PAVP individually holds 211,732 shares (2.3 %). Settian Capital and Segerberg have sole voting and dispositive power over the full 5 % block.

The group acquired the position for $7.43 million using fund working capital. They describe WHG shares as an “attractive investment opportunity” and may increase, reduce or otherwise adjust their stake. The filing outlines a broad activist agenda: potential M&A or divestitures, board or management changes, capital raises, dividend policy review, AI-driven cost-cutting, and other strategic alternatives aimed at boosting shareholder value. No additional contracts or arrangements are reported beyond a joint filing agreement.

Positive

• Settian Capital and affiliates disclosed a 5.0 % stake, crossing the activist reporting threshold.
• $7.43 million invested signals financial commitment and belief in undervaluation.
• Detailed list of potential strategic actions indicates proactive engagement to enhance shareholder value.

Negative

• None.

Insights

Activist Investing Specialist

TL;DR: 5 % stake gives Settian leverage to push strategic changes, indicating an emerging activist posture.

Crossing the 5 % threshold requires a 13D, signaling the group’s willingness to influence corporate policy. The filing explicitly lists potential actions—M&A, board refresh, dividend review, AI cost efficiencies—mirroring classic activist playbooks. While no concrete proposals are lodged yet, sole voting power over the entire stake and a detailed menu of options suggest engagement is likely. For a micro-cap like WHG, even a 5 % block can be influential, especially if other holders align. Investors should watch for follow-up letters or proxy activity that could unlock value through strategic alternatives.

Portfolio Manager

TL;DR: New 5 % holder may catalyze near-term re-rating but adds activism-related uncertainty.

The $7.4 M purchase implies an average cost near recent market levels, limiting downside protection but showing conviction. A credible activist can accelerate operational reviews and capital allocation discipline, potentially improving WHG’s ROE and valuation multiples. Conversely, management distraction or resistance could weigh on execution. The position is large versus WHG’s float, so any escalation—tender offer or proxy contest—could move the stock materially. Risk-reward skews positive, yet investors should monitor for signaling events such as additional share accumulation or 14A filings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Westwood Holdings Group Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

961765104

(CUSIP Number)

Karl K. Segerberg
767 Fifth Avenue, 18th Floor
New York, NY, 10153
203-257-0925

David E. Scott
101 La Quinta Place,
Saint Augustine, FL, 32084
646-415-8159

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/30/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 961765104

1

Name of reporting person

Settian Capital LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 470,515.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 470,515.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

470,515.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.0 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 961765104

1

Name of reporting person

PAVP Family Office Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 211,732.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 211,732.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

211,732.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 961765104

1

Name of reporting person

Karl Kristofer Segerberg

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 470,515.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 470,515.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

470,515.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.0 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Westwood Holdings Group Inc.
(c)	Address of Issuer's Principal Executive Offices: 200 Crescent Court, Suite 1200, Dallas, TEXAS , 75201.
Item 2.	Identity and Background
(a)	This Schedule 13D is being filed pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended (the "Act"), on behalf of each of the following persons (each, a "Reporting Person" and collectively, the "Reporting Persons"): i. Settian Capital, LP, a Delaware limited partnership ("Settian Capital"); ii. PAVP Family Office Fund, LP, a Delaware limited partnership ("PAVP"); and iii. Karl Kristofer Segerberg ("Kristofer Segerberg"), an individual who serves as Managing Partner of Settian, LLC, the general partner of Settian Capital, LP.
(b)	The address for the Reporting Persons is 767 Fifth Avenue, 18th Floor, New York, New York 10153.
(c)	PAVP is an investment fund engaged in the business of acquiring, holding, voting and disposing of various public and private securities investments. PAVP is managed by Settian Capital. Kristofer Segerberg is the manager of the general partner of Settian Capital and the manager of the general partner of PAVP. Please refer to the address provided in (b) above.
(d)	During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Settian Capital and PAVP Family Office Fund are each a Delaware limited partnership. Kristofer Segerberg is a citizen of the United States of America.
Item 3.	Source and Amount of Funds or Other Consideration
	The total purchase price of the shares was $7,428,133. All shares were purchased with working capital from PAVP and another separately managed account over which Settian Capital exercises full discretion.
Item 4.	Purpose of Transaction
	The Reporting Persons purchased the shares of Common Stock based on their belief that at current market prices, the shares represent an attractive investment opportunity. Depending upon their assessment of the Issuer's businesses and prospects, overall market conditions, other investment opportunities, and the availability of Common Stock at desirable prices, the Reporting Persons may from time to time purchase additional shares of Common Stock. The Reporting Persons may also dispose of their shares of Common Stock, in whole or in part, from time to time. The Reporting Persons may attempt to communicate with the Issuer's management and suggest actions that the Reporting Persons believe will enhance shareholder value. These suggestions may include operational and/or strategic proposals. Among other matters that the Reporting Persons may consider or propose are the following: (i) extraordinary transactions involving the Issuer or its subsidiaries, which could include, among others, corporate acquisitions, whether by means of a merger transaction or sale of assets, divestitures, a take private transaction or joint ventures with others industry participants; (ii) changes in senior management; (iii) changes in the composition of the Company's board of directors; (iv) an offering of equity or debt securities; (v) changes to the Company's dividend policy; (vi) operational changes to promote efficiencies, which may include use of AI technology, internal cost reductions, and outsourcing of administrative functions; (vii) product consolidation or diversification; and (viii) the engagement of financial, legal and other professionals to assist the Company and its board in the consideration of these or other strategic and business alternatives.
Item 5.	Interest in Securities of the Issuer
(a)	PAVP beneficially owns 211,732 shares, representing approximately 2.3% of the outstanding shares. In its capacity as investment adviser to PAVP and to an account managed by Settian Capital, Settian Capital may be deemed to beneficially own 470,515 shares, representing approximately 5.0% of the outstanding shares. In his capacity as Managing Partner of the general partner of Settian Capital, Kristofer Segerberg may be deemed to beneficially own the shares beneficially owned by Settian Capital. The percentages of the outstanding shares are based upon 9,379,680 shares reported by the Issuer to be outstanding as of April 24, 2025 in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.
(b)	PAVP has sole power to vote or direct the vote of, and sole power to dispose or direct the disposition of, 211,732 shares. Each of Settian Capital and Kristofer Segerberg has sole power to vote or direct the vote of, and sole power to dispose or direct the disposition of, 470,515 shares.
(c)	Please see Schedule A, attached hereto, for all transactions executed in the last 60 days. All transactions reported in the attached Schedule A were executed in the open market.
(d)	See Item 5(a).
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	None.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 1: Agreement for Joint Filing of Schedule 13D

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Settian Capital LP

Signature:	/s/ Karl K. Segerberg
Name/Title:	Managing Partner
Date:	08/01/2025

PAVP Family Office Fund, LP

Signature:	/s/ Karl K. Segerberg
Name/Title:	Manager of the General Partner
Date:	08/01/2025

Karl Kristofer Segerberg

Signature:	/s/ Karl K. Segerberg
Name/Title:	Karl K. Segerberg
Date:	08/01/2025

FAQ

How many Westwood Holdings Group (WHG) shares does Settian Capital control?

470,515 shares, equal to 5.0 % of WHG’s outstanding stock.

What was the total purchase price for the WHG shares?

The filing states a cumulative cost of $7,428,133 funded with working capital.

What percentage of WHG does PAVP Family Office Fund, LP own?

PAVP holds 211,732 shares, or roughly 2.3 % of WHG.

What strategic changes might Settian Capital propose to WHG?

Possibilities include M&A, board or management changes, financing transactions, dividend policy review, and AI-driven cost cuts.

Can Settian Capital increase or reduce its WHG position?

Yes. The group may buy additional shares or sell its holdings depending on market conditions and valuation.

Who is Karl K. Segerberg in relation to Settian Capital?

He is the Managing Partner of Settian Capital’s general partner and signs the 13D on behalf of all reporting persons.