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| FORM 3 |          U.S. SECURITIES AND EXCHANGE COMMISSION
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1.  Name and Address of Reporting Person*

SWS Group, Inc.
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(Last)                      (First)                        (Middle)
1201 Elm Street, Suite 3500
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(Street)
Dallas                       Texas                            75270
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(City)                      (State)                           (Zip)

2.  Date of Event Requiring Statement (Month/Day/Year)               06/7/2002
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3.  IRS Identification Number of Reporting Person if an Entity
(Voluntary)
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4.  Issuer Name and Ticker or Trading Symbol    Westwood Holdings Group, Inc.
("WHG")
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5.  Relationship of Reporting Person(s) to Issuer (Check all applicable)
X
___ Director    ___ Officer             ___ 10% Owner    ___ Other
(give title below)                       (specify below)
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6.  If Amendment, Date of Original (Month/Day/Year)
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7.  Individual or Joint Group Filing (Check Applicable Line)
X
____ Form Filed by One Reporting Person
____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED

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1. Title           2. Amount of         3. Ownership Form:  4. Nature of
of                 Securities Bene-     Direct (D) or       Indirect Bene-
Security           ficially Owned       Indirect (I)        ficial Ownership
(Instr. 4)         (Instr. 4)           (Instr. 5)          (Instr. 5)
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Common Stock            4,309                   D
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TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)

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1. Title of Derivative        2. Date Exer-    3. Title and Amount of Securities   4. Conversion   5. Ownership   6. Nature of In-
Security (Instr. 4)           cisable and      Underlying Derivative Security      or              Form of        direct Bene-
Expiration       (Instr. 4)                          Exercise        Derivative     ficial
Date                                                 Price           Security:      Ownership
(Month/Day/                                          of              Direct (D)     (Instr. 5)
Year)                                                Derivative      or In-
----------------------------------------------------     Security        direct (I)
Date      Expira-                        Amount or                      (Instr. 5)
Exer-     tion            Title          Number of
cisable   Date                           Shares
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.

Explanation of Responses:   By: /s/ Allen R. Tubb                   6/7/02
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Name:   Allen R. Tubb              Date
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Title:  Secretary
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**Signature of Reporting Person

* If the form is filed by more than one reported person, see Instruction
5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:  File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.