Should You Consider Adding JPMorgan Chase & Co. (JPM) to Your Watchlist?

Giverny Capital Asset Management, LLC, an investment management company, recently published its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The model portfolio of the firm appreciated 6.06%, net of fees in the first quarter compared to a 7.50% return for the Standard & Poor’s 500 Index. For the year ended March 31, 2023, the portfolio returned -10.62% compared to -7.73% for the benchmark, net of fees.  In addition, please check the fund’s top five holdings to know its best picks in 2023.

Giverny Capital highlighted stocks like JPMorgan Chase & Co. (NYSE:JPM) in the first quarter 2023 investor letter. Headquartered in New York, New York, JPMorgan Chase & Co. (NYSE:JPM) is a financial services company. On April 26, 2023, JPMorgan Chase & Co. (NYSE:JPM) stock closed at $135.23 per share. One-month return of JPMorgan Chase & Co. (NYSE:JPM) was 5.03%, and its shares gained 9.64% of their value over the last 52 weeks. JPMorgan Chase & Co. (NYSE:JPM) has a market capitalization of $395.183 billion.

Giverny Capital made the following comment about JPMorgan Chase & Co. (NYSE:JPM) in its Q1 2023 investor letter:

“This quarter marked the end of our third year in business. It has been a wild ride – launching at the start of the pandemic, watching a bubble in low-quality stocks and cryptocurrencies inflate and deflate, and generally living with a high level of volatility. On April 14, our holding JPMorgan Chase & Co. (NYSE:JPM) announced nice earnings for the first quarter and the stock rose 7%. In a truly efficient market, the largest, best- managed bank in America would not rise or fall 7% on a single data point. Yet, we see it regularly.”

Pixabay/Public Domain

JPMorgan Chase & Co. (NYSE:JPM) is in 19th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 100 hedge fund portfolios held JPMorgan Chase & Co. (NYSE:JPM) at the end of the fourth quarter which was 110 in the previous quarter.

We discussed JPMorgan Chase & Co. (NYSE:JPM) in another article and shared the list of best stocks to buy and hold for 3 years. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.