5 Important Stocks in Billionaire Richard Chilton’s Latest Portfolio

1. JPMorgan Chase & Co. (NYSE:JPM)

Chilton Investment Company’s Stake Value: $1,715,000

Percentage of Chilton Investment Company’s 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 110

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm providing services to the world’s most renowned enterprises and institutions. The company is one of the leading technology-driven corporations in the world, with an annual investment of $12 billion in technological solutions.

On May 24, James Fotheringham at BMO Capital increased the price target on JPMorgan Chase & Co. (NYSE:JPM) from $150 to $156. However, the analyst maintained a Market Perform rating on JPMorgan Chase & Co. (NYSE:JPM). According to Fotheringham, JPMorgan Chase & Co. (NYSE:JPM) could possibly gain a greater market share in the long-term, but the short-term benefit of increased net interest income is expected to be offset by several headwinds.

Here’s what Ariel Investments said about JPMorgan Chase & Co. (NYSE:JPM) in its Q4 2021 investor letter:

“In our view, inflation will not just be a 2021 phenomenon. Inflationary expectations are only now working themselves into the labor market with historically low unemployment, resurgent labor unions, and higher wages. These labor cost pressures are only starting to show up in the Consumer Price Index. The most recent Producer Price Index showed a +9% year over year increase, the highest since it was created in 2010. Higher input prices generally lead to rising consumer prices.

“In our view, inflation will not just be a 2021 phenomenon.” 

Consumer balance sheets are in excellent shape with lower unemployment and banked stimulus checks. A recent analysis from JP Morgan Chase (JPM) showed average checking accounts have 50% higher balances than pre-Covid. The U.S. money supply as measured by M2 (a calculation that includes cash, checking accounts, and “near cash” such as money market securities) is up +38% versus year-end 2019. Higher consumer cash holdings and higher money supply mean more spending and demand for goods. Some emphasize supply issues to explain current inflation. Going forward, we see very strong demand as well, too much money chasing too few goods.”

As of Q1 2022, 110 hedge funds held a stake in JPMorgan Chase & Co. (NYSE:JPM).

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