February 1, 2003

Susan M Byrne
Westwood Holdings Group Inc.
300 Crescent Court
Dallas, TX 75201

RE:        Schedule 13G

Enclosed pursuant to Rule 13d-1(b) under the Securities Exchange Act of 1934 is
a report on Schedule 13G reporting beneficial ownership at December 31, 2002 by
American Express Financial Corporation in Common Stock of Westwood Holdings
Group Inc..

Sincerely,

/s/ Steve Turbenson
---------------------
Steve Turbenson
Director - Fund Administration

Enclosure

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

SCHEDULE 13G

Under the Securities and Exchange Act of 1934

Westwood Holdings Group Inc.
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(Name of Issuer)

Common Stock
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(Title of Class of Securities)

961765104
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(CUSIP Number)

The information required in the remainder of this cover page (except any items
to which the form provides a cross-reference) 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.

CUSIP NO. 961765104

1)     Name of Reporting Person           American Express Financial Corporation

S.S. or I.R.S. Identification      IRS No. 13-3180631
No. of Above Person

2)     Check the Appropriate Box          (a)
if a Member of a Group             (b) X - Joint Filing

3)     SEC Use Only

4)     Citizenship or Place of
Organization                       Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

(5) Sole Voting Power              -0-
(6) Shared Voting Power            -0- 
(7) Sole Dispositive Power         -0- 
(8) Shared Dispositive Power       290,900

9)     Aggregate Amount Beneficially
Owned by Each Reporting Person     290,900

10)    Check if the Aggregate Amount in 
Row (9) Excludes Certain Shares    Not Applicable

11)    Percent of Class Represented by
Amount In Row (9)                  5.4%

12)    Type of Reporting Person           CO, IA, IV, IA

1(a)   Name of Issuer:                    Westwood Holdings Group Inc.

1(b)   Address of Issuer's Principal      300 Crescent Court 
Executive Offices:                 Dallas, TX 75201

2(a)   Name of Person Filing:             American Express Financial Corporation

2(b)   Address of Principal Business Office:
American Express Financial Corporation
200 AXP Financial Center
Minneapolis, MN  55474

2(c)   Citizenship:                       See Item 4 of Cover Page

2(d)   Title of Class of Securities:      Common Stock

2(e)   Cusip Number:                      961765104

3      Information if statement is filed pursuant to Rules 13d-1(b) or 13d-2(b):
American Express Company, one of the persons filing this statement, is
a Parent Holding Company in accordance with Rule  13d-1(b)(ii)(G)  and
is  an  Investment   Advisor  registered  under  section  203  of  the
Investment Advisors Act of 1940.

4(a)   Amount Beneficially Owned as of December 31, 2002: See Item 9 of Cover
Pages

4(b)   Percent of Class: See Item 11 of Cover Pages

4(c)   Number of Shares as to which such person has:

(i)     Sole  power to vote or to direct  the  vote:  See Item 5 of Cover
Pages
(ii)    Shared  power to vote or  direct  the  vote:  See Item 6 of Cover
Pages
(iii)   Sole power to dispose or to direct the disposition of: See Item 7
of Cover Pages
(iv)    Shared power to dispose or to direct the disposition of: See Item
8 of Cover Pages

5      Ownership of 5% or Less of a Class:
If this  statement  is being  filed to report  the fact as of the date
hereof the reporting  person has ceased to be the beneficial  owner of
more than five percent of the class of securities, check the following
( ).

6      Ownership of more than 5% on Behalf of Another Person:

Not Applicable

7      Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:

See Exhibit I

8      Identification and Classification of Members of the Group:

Not Applicable

9      Notice of Dissolution of Group:

Not Applicable

10     Certification:

By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant
in any transaction having such purposes or effect.

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.
American Express Financial Corporation

American Express Financial Corporation

Dated: December 31, 2002                  By /s/ Steve Turbenson
--------------------
Steve Turbenson
Signature

Steve Turbenson
Director - Fund Administration
Name/Title

Telephone:         (612) 671-2059

Exhibit Index

Exhibit I              Identification and Classification of the Subsidiary
which Acquired the Security Being Reported on by the
Parent Holding Company.

Exhibit II             Statement of American Express Financial Corporation

Exhibit I

to

Schedule 13G

American Express Financial Corporation, a Delaware Corporation, is a
parent holding company and is registered as investment advisor under section 203
of the Investment Advisor Act of 1940. The relevant subsidiaries and/or advised
accounts are: Investment companies registered under section 8 of the Investment
Company Act of 1940; IDS Life Insurance Company and American Express Asset
Management Group Inc., an investment advisor registered under section 203 of the
Investment Advisors Act of 1940.

Exhibit II

to

Schedule 13G

Under the

Securities Exchange Act of 1934

Pursuant to Rule 13d-1(f)(1), American Express Financial Corporation
affirms that it is individually eligible to use Schedule 13G and agrees that
this Schedule is filed in its behalf and on behalf of it subsidiaries and
advised accounts.

American Express Financial Corporation

By /s/ Steve Turbenson   
--------------------  
Steve Turbenson   
Director - Fund Administration