Some hedge fund managers, like Thomas Kempner and the late Marvin Davidson of Davidson Kempner, are (were) very philanthropic, and many give through their own foundations. The filings of these foundations reveal which funds managers trust with their foundations’ money. In Kempner’s case, he trusts numerous managers with his foundation’s money, although Davidson is far more conservative in terms of investing in hedge funds or private equity funds.
Background on the foundations
The Thomas L. Kempner Jr. Foundation primarily gives to higher education and to other educational organizations, while the Marvin H. Davidson Foundation mostly gives to the arts, education, health and social services. The Kempner Jr. Foundation’s 2024 grantees included the Achievement First Charter School, the Jewish Communal Fund, Mt. Sinai Hospital, Open Space Institute, and the Wildlife Conservation Society.
The Davidson Foundation gave to St. Jude Children’s Hospital, the Marvin Davidson Family Foundation, and the Robin Hood Foundation. The Marvin Davidson Family Foundation filed its first return in 2024, indicating it was newly founded, so it didn’t hand out any grants in 2024 despite the huge sum of more than $5 million received from the Marvin H. Davidson Foundation.
According to the 990-PF for 2024, which was filed in November 2025, the Thomas L. Kempner Jr. Foundation had $326.4 million assets at the end of the year. The 2024 990-PF for the Marvin H. Davidson Foundation was also filed in November 2025, and it reveals that the foundation had $19.3 million in assets. The Marvin Davidson Family Foundation had $about $5.2 million in assets at the end of 2024, according to its 990-PF.
Also see: Thomas Kempner of Davidson Kempner Trusts These Hedge Funds, PE and VC Managers
Kempner Jr. Foundation’s equities
The Kempner Jr. Foundation invested in a massive list of stocks and publicly traded funds in 2024
- Autonation: auto dealer
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