Westwood Holdings Gets 5% Investor; Strategic Moves on Horizon

Rhea-AI Filing Summary

Settian Capital LP, PAVP Family Office Fund LP and managing partner Karl K. Segerberg have filed an initial Schedule 13D announcing a 5.0 % beneficial stake (470,515 shares) in Westwood Holdings Group Inc. (WHG). PAVP directly holds 211,732 shares (2.3 %), while Settian Capital, as adviser, and Segerberg, as control person, report the full position. The shares were accumulated in the open market for an aggregate $7.43 million.

The investors believe WHG is undervalued and list a wide spectrum of potential value-creation actions they may advocate, including M&A, capital raises, dividend policy changes, board or management refreshment, operational efficiencies and use of AI. They may increase or decrease their holdings as conditions warrant. No lock-ups, voting agreements or other arrangements were disclosed, and the group reports no legal proceedings.

The filing formally positions Settian/Segerberg as a possible activist catalyst for WHG but stops short of any concrete proposal at this time.

Positive

• 5.0 % stake by Settian Capital introduces an informed, potentially activist investor that may push for value-enhancing actions.
• $7.4 million cash purchase demonstrates monetary commitment and confidence in WHG’s valuation.
• Item 4 lists multiple strategic levers—M&A, capital structure, operational efficiencies—that could unlock shareholder value.

Negative

• The investors expressly reserve the right to sell shares at any time, creating potential share-price overhang.
• No concrete plan or timeline was provided; activism remains speculative until actions are taken.

Insights

Financial Analyst

TL;DR: New 5 % stake signals activist interest; no specific plan yet, but strategic optionality could re-rate WHG.

The initial 13D confirms Settian Capital as WHG’s largest disclosed outside holder. A 5 % threshold filing often precedes activism, and the broad menu of actions—M&A, dividend review, AI-driven cost cuts—suggests preparedness to agitate if value remains unlocked. Purchase cost of roughly $15.8 per share compares to WHG’s recent trading range (~$14-16), implying limited downside if talks stall. While merely declaratory, the stake increases probability of corporate actions that could close WHG’s persistent discount to book value and bolster returns.

Corporate Governance Expert

TL;DR: Filing introduces potential governance pressure; board changes and strategic review are on the table.

Item 4’s laundry list gives Settian negotiating leverage without committing to a proxy fight. Even a 5 % holding can sway smaller-cap boards like WHG’s (≈9.4 m shares outstanding). Management must now engage or risk public campaigns around leadership, dividend policy or asset sales. Absence of group agreements and joint-filing consent keeps structure flexible. Impact hinges on whether Settian escalates; nevertheless, disclosure alone often prompts pre-emptive governance enhancements.

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

Why did Settian Capital file a Schedule 13D on WHG?

Because its aggregated holdings reached 5.0 % of Westwood Holdings Group’s common stock, triggering the SEC’s active ownership disclosure rule.

How many WHG shares does Settian Capital control?

The group reports 470,515 shares, while PAVP directly owns 211,732 shares.

What was the total cost of Settian Capital’s WHG position?

Item 3 cites an aggregate purchase price of $7,428,133 using working capital.

What actions might the investors push for at Westwood Holdings Group (WHG)?

Item 4 lists possibilities including M&A, board or management changes, dividend policy review, equity/debt offerings and operational efficiencies.

Are there any agreements or legal proceedings disclosed?

No. The filing states no contracts, arrangements or legal proceedings involving the reporting persons.