Kempner Capital Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 16, 2025), Kempner Capital Management Inc. reported 48 stock positions worth $120.1 million. Its top holding was Micron Technology (MU) at 6.9% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 6.4%) and Black Stone Minerals (BSM, 6.4%). Compared with Q2 2025, it opened 4 new positions, sold out of 3, added to 1 and reduced 35. The biggest buy was a new position in Easterly Government Properti (DEA) and the biggest sale an exit from Easterly Govt Pptys (DEA).
- Most Recent 13F
- Q4 2025
- Location
- GALVESTON, TX
- CIK
- 0000898399
- Portfolio Value
- $120.1M (Q3 2025)
- SEC Filing
- 0000898399-25-000006 ↗ filed Oct 16, 2025
Holdings Value
Holdings 48 stocks · $120.1M
| MU Micron Technology Inc. | 6.88% | 49,372 | $8.3M | Reduce -47.6% |
| TSM Taiwan Semiconductor-SP ADR | 6.41% | 27,592 | $7.7M | Reduce -54.5% |
| BSM Black Stone Minerals LP | 6.37% | 582,128 | $7.6M | Reduce -23.3% |
| CFR Cullen/Frost Bankers Inc. | 3.63% | 34,361 | $4.4M | Reduce -2.3% |
| GOOG Alphabet Inc. Class C | 3.24% | 15,960 | $3.9M | Reduce -46.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 3.13% | 32,877 | $3.8M | Reduce -47.5% |
| GPN Global Payments Inc. | 2.89% | 41,800 | $3.5M | Reduce -46.3% |
| TER Teradyne Inc. | 2.83% | 24,710 | $3.4M | Reduce -46.2% |
| ST Sensata Technologies Holdplc | 2.82% | 110,979 | $3.4M | Reduce -46.9% |
| CFG Citizens Financial Group | 2.77% | 62,575 | $3.3M | Reduce -47.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.76% | 64,336 | $3.3M | Reduce -52.1% |
| LNC Lincoln National Corp. | 2.74% | 81,775 | $3.3M | Reduce -48.5% |
| SHEL Shell PLC-ADR | 2.74% | 46,102 | $3.3M | Reduce -46.4% |
| C Citigroup Inc. | 2.61% | 30,905 | $3.1M | Reduce -57.9% |
| ZBH Zimmer Biomet Holdings Inc. | 2.57% | 31,401 | $3.1M | Reduce -46.3% |
| XOM Exxon Mobil Corp. | 2.56% | 27,276 | $3.1M | Reduce -47.3% |
| MRK Merck & Co. Inc. | 2.56% | 36,621 | $3.1M | Reduce -46.5% |
| CSCO Cisco Systems Inc. | 2.38% | 41,757 | $2.9M | Reduce -46.3% |
| UNH Unitedhealth Group Inc. | 2.31% | 8,030 | $2.8M | Reduce -46.2% |
| TSN Tyson Foods Inc. Class A | 2.19% | 48,533 | $2.6M | Reduce -46.2% |
| TFC Truist Financial Corp. | 2.16% | 56,812 | $2.6M | Reduce -46.8% |
| EQH Equitable Holdings Inc. | 2.13% | 50,505 | $2.6M | Reduce -46.7% |
| FMC FMC Corp. | 2.05% | 73,286 | $2.5M | Add +19.4% |
| DEA Easterly Government Properti | 2.02% | 105,712 | $2.4M | New |
| CNMD Conmed Corp. | 1.94% | 49,554 | $2.3M | Reduce -47.0% |
| KVUE Kenvue Inc. | 1.80% | 133,214 | $2.2M | New |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.78% | 34,817 | $2.1M | Reduce -26.6% |
| EOSE Eos Energy Enterprises Inc. | 1.66% | 175,000 | $2.0M | No change |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.62% | 56,523 | $1.9M | Reduce -48.4% |
| LLY Eli Lilly & Co. | 1.60% | 2,520 | $1.9M | New |
| O Realty Income Corp. | 1.52% | 30,073 | $1.8M | Reduce -45.2% |
| CB Chubb Ltd. | 1.50% | 6,402 | $1.8M | Reduce -46.4% |
| AMCR Amcor PLC | 1.41% | 207,121 | $1.7M | New |
| BP BP PLC-Spons ADR | 1.38% | 48,052 | $1.7M | Reduce -31.9% |
| BAX Baxter International Inc. | 1.18% | 62,370 | $1.4M | Reduce -48.4% |
| LYB Lyondellbasell Indu Class A | 1.05% | 25,722 | $1.3M | Reduce -45.6% |
| ISRA Vaneck Israel ETF | 1.02% | 22,500 | $1.2M | No change |
| RIO Rio Tinto PLC-Spon ADR | 1.01% | 18,304 | $1.2M | Reduce -44.3% |
| EG Everest Group Ltd. | 0.98% | 3,349 | $1.2M | Reduce -48.3% |
| SON Sonoco Products Co. | 0.89% | 24,861 | $1.1M | Reduce -43.6% |
| KMI Kinder Morgan Inc. | 0.66% | 28,200 | $798K | No change |
| FANG Diamondback Energy Inc. | 0.62% | 5,166 | $739K | Reduce -47.4% |
| AWPAX AB Sust Intl Thematic-A filed as AWPAX AB SUST INTL THEMATIC A | 0.44% | 24,540 | $525K | No change |
| BHP BHP Group Ltd.-Spon ADR | 0.38% | 8,152 | $454K | Reduce -46.1% |
| SBI Western Asset Intermediate | 0.31% | 47,800 | $378K | No change |
| PK Park Hotels & Resorts Inc. | 0.20% | 22,000 | $244K | No change |
| WBD Warner Bros Discovery Inc. | 0.18% | 11,175 | $218K | No change |
| SVC Service Pptys TR | 0.11% | 47,450 | $129K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| DEA Easterly Govt Pptys Inc. | Sold out | 0.00% | −2.31 |
| DIS The Walt Disney Co. | Reduce -47.5% | 3.13% | −1.03 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -54.5% | 6.41% | −0.94 |
| BAX Baxter International Inc. | Reduce -48.4% | 1.18% | −0.78 |
| C Citigroup Inc. | Reduce -57.9% | 2.61% | −0.73 |
| EQH Equitable Holdings Inc. | Reduce -46.7% | 2.13% | −0.71 |
| CNMD Conmed Corp. | Reduce -47.0% | 1.94% | −0.67 |
| BAC Bank of America Corp. | Reduce -52.1% | 2.76% | −0.64 |
| ST Sensata Technologies Holdplc | Reduce -46.9% | 2.82% | −0.55 |
| CSCO Cisco Systems Inc. | Reduce -46.3% | 2.38% | −0.51 |
| TSN Tyson Foods Inc. Class A | Reduce -46.2% | 2.19% | −0.51 |
| SHEL Shell PLC-ADR | Reduce -46.4% | 2.74% | −0.50 |
| GPN Global Payments Inc. | Reduce -46.3% | 2.89% | −0.45 |
| XOM Exxon Mobil Corp. | Reduce -47.3% | 2.56% | −0.43 |
| LYB Lyondellbasell Indu Class A | Reduce -45.6% | 1.05% | −0.42 |
| SLB SLB Ltd. | Reduce -48.4% | 1.62% | −0.36 |
| CB Chubb Ltd. | Reduce -46.4% | 1.50% | −0.35 |
| MRK Merck & Co. Inc. | Reduce -46.5% | 2.56% | −0.34 |
| TFC Truist Financial Corp. | Reduce -46.8% | 2.16% | −0.30 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -46.3% | 2.57% | −0.28 |
| EG Everest Group Ltd. | Reduce -48.3% | 0.98% | −0.20 |
| LNC Lincoln National Corp. | Reduce -48.5% | 2.74% | −0.20 |
| UNH Unitedhealth Group Inc. | Reduce -46.2% | 2.31% | −0.19 |
| O Realty Income Corp. | Reduce -45.2% | 1.52% | −0.17 |
| SON Sonoco Products Co. | Reduce -43.6% | 0.89% | −0.14 |
| FANG Diamondback Energy Inc. | Reduce -47.4% | 0.62% | −0.11 |
| IFF Intl Flavors & Fragrances | Reduce -26.6% | 1.78% | −0.08 |
| CFG Citizens Financial Group | Reduce -47.0% | 2.77% | −0.06 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -44.3% | 1.01% | −0.02 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -46.1% | 0.38% | −0.01 |
| ENZB Enzo Biochem Inc. | Sold out | 0.00% | −0.01 |
| NOVAQ Sunnova Energy International | Sold out | 0.00% | 0.00 |
| BP BP PLC-Spons ADR | Reduce -31.9% | 1.38% | +0.25 |
| GOOG Alphabet Inc. Class C | Reduce -46.6% | 3.24% | +0.40 |
| TER Teradyne Inc. | Reduce -46.2% | 2.83% | +0.62 |
| MU Micron Technology Inc. | Reduce -47.6% | 6.88% | +0.66 |
| BSM Black Stone Minerals LP | Reduce -23.3% | 6.37% | +1.05 |
| CFR Cullen/Frost Bankers Inc. | Reduce -2.3% | 3.63% | +1.20 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 43 | $105.8M | MU, BSM, TSM, GOOG, TER |
| Q3 2025 | 48 | $120.1M | MU, TSM, BSM, CFR, GOOG |
| Q2 2025 | 47 | $186.7M | TSM, MU, BSM, DIS, BAC |
| Q1 2025 | 49 | $177.7M | MU, TSM, BSM, GSK, SHEL |
| Q4 2024 | 49 | $182.2M | TSM, MU, BSM, DIS, CNMD |
| Q3 2024 | 51 | $195.4M | MU, TSM, BSM, CNMD, CFG |
| Q2 2024 | 50 | $188.6M | MU, TSM, BSM, C, BP |
| Q1 2024 | 51 | $184.4M | MU, BSM, DIS, BP, IFF |