Merck & Co., Inc.
MX ˙ BMV ˙ US58933Y1055
SecurityMX:MRK / Merck & Co., Inc.
InstitutionKempner Capital Management Inc.
Latest Disclosed Ownership33,776 shares
Latest Disclosed Value $ 3,386,000
Kempner Capital Management Inc. reports 7.77% decrease in ownership of MRK / Merck & Co., Inc.

On January 12, 2026 - Kempner Capital Management Inc. filed a 13F-HR form disclosing ownership of 33,776 shares of Merck & Co., Inc. (MX:MRK) valued at $3,386,000 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 16, 2025 disclosing 36,621 shares of Merck & Co., Inc.. This represents a change in shares of -7.77% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-01-12 2025-12-31 13F MERCK COM 58933Y105 33,776 -2,845 -7.77 3,386 10.15 3.1993
2025-10-16 2025-09-30 13F MERCK COM 58933Y105 36,621 -31,785 -46.47 3,074 -43.23 2.5585
2025-07-15 2025-06-30 13F MERCK COM 58933Y105 68,406 1,778 2.67 5,415 108,200.00 2.9000
2025-04-21 2025-03-31 13F MERCK COM 58933Y105 66,628 36,658 122.32 6 -99.83 3.3660
2025-01-23 2024-12-31 13F MERCK COM 58933Y105 29,970 29,970 2,981 1.6363
2022-10-11 2022-09-30 13F MERCK COM 58933Y105 0 -40,039 -100.00 0 -100.00
2022-07-19 2022-06-30 13F MERCK COM 58933Y105 40,039 -13,467 -25.17 3,650 -16.86 2.2230
2022-04-13 2022-03-31 13F MERCK & CO. COM 58933Y105 53,506 115 0.22 4,390 7.28 2.4043
2022-01-18 2021-12-31 13F MERCK COM 58933Y105 53,391 13,478 33.77 4,092 36.49 2.4119
2021-11-01 2021-09-30 13F MERCK COM 58933Y105 39,913 0 0.00 2,998 -3.41 1.7084
2021-07-23 2021-06-30 13F MERCK COM 58933Y105 39,913 0 0.00 3,104 0.88 1.7614
2021-04-27 2021-03-31 13F Merck COM 58933Y105 39,913 0 0.00 3,077 -5.76 1.7685
2021-01-05 2020-12-31 13F Merck COM 58933Y105 39,913 0 0.00 3,265 -1.39 2.1572
2020-10-06 2020-09-30 13F Merck COM 58933Y105 39,913 0 0.00 3,311 7.29 2.6481
2020-07-15 2020-06-30 13F Merck COM 58933Y105 39,913 -88 -0.22 3,086 0.26 2.4225
2020-04-13 2020-03-31 13F Merck COM 58933Y105 40,001 1,810 4.74 3,078 -11.37 2.6797
2020-01-14 2019-12-31 13F Merck COM 58933Y105 38,191 -66 -0.17 3,473 7.86 2.2481
2019-10-04 2019-09-30 13F Merck COM 58933Y105 38,257 -12,733 -24.97 3,220 -24.70 2.1840
2019-07-08 2019-06-30 13F Merck COM 58933Y105 50,990 -16,980 -24.98 4,276 -24.36 2.7973
2019-04-05 2019-03-31 13F Merck COM 58933Y105 67,970 -17,073 -20.08 5,653 -13.00 3.7318
2019-01-09 2018-12-31 13F Merck COM 58933Y105 85,043 0 0.00 6,498 7.71 4.4672
2018-10-05 2018-09-30 13F Merck COM 58933Y105 85,043 -44 -0.05 6,033 16.81 3.8659
2018-07-09 2018-06-30 13F Merck COM 58933Y105 85,087 -25 -0.03 5,165 11.41 3.3959
2018-04-06 2018-03-31 13F Merck COM 58933Y105 85,112 19,226 29.18 4,636 25.06 3.1599
2018-01-09 2017-12-31 13F Merck COM 58933Y105 65,886 44,827 212.86 3,707 175.00 2.3155
2017-10-10 2017-09-30 13F Merck COM 58933Y105 21,059 406 1.97 1,348 1.81 0.8873
2017-07-12 2017-06-30 13F Merck COM 58933Y105 20,653 173 0.84 1,324 1.77 0.8712
2017-04-11 2017-03-31 13F Merck COM 58933Y105 20,480 995 5.11 1,301 13.43 0.8669
2017-01-06 2016-12-31 13F Merck COM 58933Y105 19,485 -2,000 -9.31 1,147 -14.47 0.8341
2016-10-04 2016-09-30 13F Merck COM 58933Y105 21,485 -23,283 -52.01 1,341 -48.00 0.9246
2016-07-06 2016-06-30 13F Merck COM 58933Y105 44,768 0 0.00 2,579 8.86 1.6554
2016-04-06 2016-03-31 13F Merck COM 58933Y105 44,768 0 0.00 2,369 0.17 1.4237
2016-01-06 2015-12-31 13F Merck COM 58933Y105 44,768 -2,164 -4.61 2,365 2.03 1.3878
2015-10-06 2015-09-30 13F Merck COM 58933Y105 46,932 0 0.00 2,318 -13.25 1.3138
2015-07-01 2015-06-30 13F Merck COM 58933Y105 46,932 9,000 23.73 2,672 22.57 1.3917
2015-04-07 2015-03-31 13F Merck COM 58933Y105 37,932 -28,713 -43.08 2,180 -42.40 1.3845
2015-01-06 2014-12-31 13F Merck COM 58933Y105 66,645 0 0.00 3,785 -4.20 1.7025
2014-10-08 2014-09-30 13F Merck COM 58933Y105 66,645 -3,400 -4.85 3,951 -2.49 1.6815
2014-07-10 2014-06-30 13F Merck COM 58933Y105 70,045 0 0.00 4,052 1.91 1.6032
2014-04-14 2014-03-31 13F Merck COM 58933Y105 70,045 -475 -0.67 3,976 12.63 1.6145
2014-01-07 2013-12-31 13F Merck COM 58933Y105 70,520 70,520 3,530 1.4982
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.