Kempner Capital Management, Inc.

Kempner Capital Management, Inc. is a registered investment adviser established in January 1982, located in Galveston, TX. The firm specializes in providing investment advice primarily for equity portfolios using a value management style and fixed income advice. They manage discretionary client portfolios with minimal regard for factors like the client's other investments. The firm's investment philosophy focuses on a disciplined, deep-value approach to investing in overlooked companies with the goal of achieving a total pre-tax return greater than the rate of inflation over three to five years. For new discretionary clients, fees are based on the market value of the portfolio and are negotiable. The firm charges quarterly fees ranging from 0.1875% to 0.10% based on the portfolio value. KCM also manages an open-end equity mutual fund and charges an annual management fee of 0.59%. The firm does not charge performance-based fees or engage in side-by-side management. Kempner Capital Management has $180,045,338 of discretionary assets under management as of December 31, 2022. The firm has a Code of Ethics in place to ensure client interests are prioritized, and employees are prohibited from using non-public information or engaging in unfair personal securities trading. KCM has full trading authority for discretionary accounts and votes proxies for client securities. The firm does not provide compensation for client referrals and does not market through third-party arrangements.