Kempner Capital Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Kempner Capital Management Inc. reported 43 stock positions worth $105.8 million. Its top holding was Micron Technology (MU) at 7.6% of the portfolio, followed by Black Stone Minerals (BSM, 5.9%) and Taiwan Semiconductor-SP ADR (TSM, 5.1%). Compared with Q3 2025, it sold out of 5, added to 1 and reduced 38. The biggest buy was Sonoco Products (SON, shares +113%) and the biggest sale an exit from FMC (FMC).
- Most Recent 13F
- Q4 2025
- Location
- GALVESTON, TX
- CIK
- 0000898399
- Portfolio Value
- $105.8M (Q4 2025)
- SEC Filing
- 0000898399-26-000001 ↗ filed Jan 12, 2026
Holdings Value
Holdings 43 stocks · $105.8M
| MU Micron Technology Inc. | 7.58% | 33,792 | $8.0M | Reduce -31.6% |
| BSM Black Stone Minerals LP | 5.85% | 439,295 | $6.2M | Reduce -24.5% |
| TSM Taiwan Semiconductor-SP ADR | 5.14% | 18,898 | $5.4M | Reduce -31.5% |
| GOOG Alphabet Inc. Class C | 4.30% | 14,712 | $4.6M | Reduce -7.8% |
| TER Teradyne Inc. | 4.15% | 22,534 | $4.4M | Reduce -8.8% |
| CFR Cullen/Frost Bankers Inc. | 4.03% | 32,932 | $4.3M | Reduce -4.2% |
| ST Sensata Technologies Holdplc | 3.34% | 102,473 | $3.5M | Reduce -7.7% |
| MRK Merck & Co. Inc. | 3.20% | 33,776 | $3.4M | Reduce -7.8% |
| CFG Citizens Financial Group | 3.15% | 57,049 | $3.3M | Reduce -8.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 3.10% | 29,685 | $3.3M | Reduce -9.7% |
| LNC Lincoln National Corp. | 3.04% | 71,088 | $3.2M | Reduce -13.1% |
| GPN Global Payments Inc. | 2.93% | 37,989 | $3.1M | Reduce -9.1% |
| SHEL Shell PLC-ADR | 2.85% | 41,694 | $3.0M | Reduce -9.6% |
| CSCO Cisco Systems Inc. | 2.79% | 37,803 | $3.0M | Reduce -9.5% |
| C Citigroup Inc. | 2.77% | 26,008 | $2.9M | Reduce -15.8% |
| XOM Exxon Mobil Corp. | 2.76% | 24,803 | $2.9M | Reduce -9.1% |
| ZBH Zimmer Biomet Holdings Inc. | 2.49% | 28,548 | $2.6M | Reduce -9.1% |
| TSN Tyson Foods Inc. Class A | 2.49% | 44,273 | $2.6M | Reduce -8.8% |
| TFC Truist Financial Corp. | 2.43% | 51,784 | $2.6M | Reduce -8.8% |
| UNH Unitedhealth Group Inc. | 2.35% | 7,305 | $2.5M | Reduce -9.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.35% | 44,962 | $2.5M | Reduce -30.1% |
| LLY Eli Lilly & Co. | 2.34% | 2,327 | $2.5M | Reduce -7.7% |
| SON Sonoco Products Co. | 2.15% | 52,891 | $2.3M | Add +112.8% |
| EQH Equitable Holdings Inc. | 2.10% | 46,026 | $2.2M | Reduce -8.9% |
| KVUE Kenvue Inc. | 2.04% | 125,211 | $2.2M | Reduce -6.0% |
| DEA Easterly Government Properti | 2.02% | 95,457 | $2.1M | Reduce -9.7% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.95% | 32,167 | $2.1M | Reduce -7.6% |
| CB Chubb Ltd. | 1.75% | 5,909 | $1.8M | Reduce -7.7% |
| AMCR Amcor PLC | 1.55% | 198,643 | $1.6M | Reduce -4.1% |
| O Realty Income Corp. | 1.48% | 26,943 | $1.6M | Reduce -10.4% |
| BP BP PLC-Spons ADR | 1.41% | 42,273 | $1.5M | Reduce -12.0% |
| EOSE Eos Energy Enterprises Inc. | 1.32% | 102,500 | $1.4M | Reduce -41.4% |
| ISRA Vaneck Israel ETF | 1.26% | 22,500 | $1.3M | No change |
| RIO Rio Tinto PLC-Spon ADR | 1.20% | 16,758 | $1.3M | Reduce -8.4% |
| EG Everest Group Ltd. | 0.94% | 3,040 | $999K | Reduce -9.2% |
| KMI Kinder Morgan Inc. | 0.71% | 28,200 | $754K | No change |
| FANG Diamondback Energy Inc. | 0.69% | 4,705 | $725K | Reduce -8.9% |
| AWPAX AB Sust Intl Thematic-A filed as AWPAX AB SUST INTL THEMATIC A | 0.49% | 24,539 | $520K | Reduce 0.0% |
| BHP BHP Group Ltd.-Spon ADR | 0.41% | 7,408 | $438K | Reduce -9.1% |
| SBI Western Asset Intermediate | 0.35% | 47,800 | $371K | No change |
| SLB SLB Ltd. filed as SLB LIMITED | 0.29% | 7,972 | $310K | Reduce -85.9% |
| CNMD Conmed Corp. | 0.24% | 6,258 | $252K | Reduce -87.4% |
| PK Park Hotels & Resorts Inc. | 0.23% | 22,000 | $242K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| FMC FMC Corp. | Sold out | 0.00% | −2.05 |
| CNMD Conmed Corp. | Reduce -87.4% | 0.24% | −1.70 |
| SLB SLB Ltd. | Reduce -85.9% | 0.29% | −1.32 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -31.5% | 5.14% | −1.28 |
| BAX Baxter International Inc. | Sold out | 0.00% | −1.18 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −1.05 |
| BSM Black Stone Minerals LP | Reduce -24.5% | 5.85% | −0.51 |
| BAC Bank of America Corp. | Reduce -30.1% | 2.35% | −0.41 |
| EOSE Eos Energy Enterprises Inc. | Reduce -41.4% | 1.32% | −0.34 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.18 |
| SVC Service Pptys TR | Sold out | 0.00% | −0.11 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -9.1% | 2.49% | −0.08 |
| O Realty Income Corp. | Reduce -10.4% | 1.48% | −0.04 |
| EQH Equitable Holdings Inc. | Reduce -8.9% | 2.10% | −0.03 |
| DIS The Walt Disney Co. | Reduce -9.7% | 3.10% | −0.03 |
| EG Everest Group Ltd. | Reduce -9.2% | 0.94% | −0.03 |
| DEA Easterly Government Properti | Reduce -9.7% | 2.02% | +0.00 |
| BP BP PLC-Spons ADR | Reduce -12.0% | 1.41% | +0.03 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -9.1% | 0.41% | +0.04 |
| GPN Global Payments Inc. | Reduce -9.1% | 2.93% | +0.04 |
| UNH Unitedhealth Group Inc. | Reduce -9.0% | 2.35% | +0.05 |
| AWPAX AB Sust Intl Thematic-A | Reduce 0.0% | 0.49% | +0.05 |
| FANG Diamondback Energy Inc. | Reduce -8.9% | 0.69% | +0.07 |
| SHEL Shell PLC-ADR | Reduce -9.6% | 2.85% | +0.10 |
| AMCR Amcor PLC | Reduce -4.1% | 1.55% | +0.14 |
| C Citigroup Inc. | Reduce -15.8% | 2.77% | +0.16 |
| IFF Intl Flavors & Fragrances | Reduce -7.6% | 1.95% | +0.17 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -8.4% | 1.20% | +0.20 |
| XOM Exxon Mobil Corp. | Reduce -9.1% | 2.76% | +0.20 |
| KVUE Kenvue Inc. | Reduce -6.0% | 2.04% | +0.24 |
| CB Chubb Ltd. | Reduce -7.7% | 1.75% | +0.24 |
| TFC Truist Financial Corp. | Reduce -8.8% | 2.43% | +0.27 |
| LNC Lincoln National Corp. | Reduce -13.1% | 3.04% | +0.29 |
| TSN Tyson Foods Inc. Class A | Reduce -8.8% | 2.49% | +0.30 |
| CFG Citizens Financial Group | Reduce -8.8% | 3.15% | +0.38 |
| CFR Cullen/Frost Bankers Inc. | Reduce -4.2% | 4.03% | +0.40 |
| CSCO Cisco Systems Inc. | Reduce -9.5% | 2.79% | +0.42 |
| ST Sensata Technologies Holdplc | Reduce -7.7% | 3.34% | +0.51 |
| MRK Merck & Co. Inc. | Reduce -7.8% | 3.20% | +0.64 |
| MU Micron Technology Inc. | Reduce -31.6% | 7.58% | +0.71 |
| LLY Eli Lilly & Co. | Reduce -7.7% | 2.34% | +0.74 |
| GOOG Alphabet Inc. Class C | Reduce -7.8% | 4.30% | +1.06 |
| TER Teradyne Inc. | Reduce -8.8% | 4.15% | +1.31 |
Portfolio Buys Q3 2025 → Q4 2025
| SON Sonoco Products Co. | Add +112.8% | 2.15% | +1.25 |
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 |