JPMorgan Chase & Co. (JPM) Rises As Revenues, Earnings Beat Estimates

What does the smart money think about JPMorgan Chase & Co. (NYSE:JPM)?

According to hedge fund intelligence website Insider Monkey, Lansdowne Partners, managed by Alex Snow, holds the largest position in JPMorgan Chase & Co. (NYSE:JPM). Lansdowne Partners has a $1.25 billion position in the stock, held in 20.68 million shares, and comprising 11.3% of its 13F portfolio. Sitting in the number two spot is Fisher Asset Management, headed by Ken Fisher, which holds an $822.6 million position of 13.58 million shares; the fund has 1.6% of its 13F portfolio invested in the stock. Other members of the smart money that are bullish comprise Edgar Wachenheim’s Greenhaven Associates, Boykin Curry’s Eagle Capital Management, and Daniel S. Och’s OZ Management.

Consequently, key money managers have been driving this bullishness. Laurion Capital Management, led by Benjamin A. Smith, established the most valuable position of call options, underlying 1.5 million shares of JPMorgan Chase & Co. (NYSE:JPM). Laurion Capital Management had $72.7 million invested in the company at the end of the first quarter. Glenn Greenberg’s Brave Warrior Capital also held a $59.1 million investment in the stock, upping its stake to 4.82 million shares, during the quarter, a 16% increase. The following funds were among the new JPMorgan investors: Thomas E. Claugus’ GMT Capital, John Brennan’s Sirios Capital Management, and Neil Chriss’ Hutchin Hill Capital.

The bullishness of hedge funds coupled with the solid second quarter results for the financial giant makes us conclude that JPMorgan Chase & Co. (NYSE:JPM) is a solid bet at the moment.

Disclosure: None