Vltava Fund, an investment management company, recently released its fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. 2023 proved to be a prosperous year for the fund. The letter concentrates on outlining the more noteworthy changes that have occurred within the businesses that the fund owns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
In its Q4 2023 investor letter, Vltava Fund featured stocks such as JPMorgan Chase & Co. (NYSE:JPM). Headquartered in New York, New York, JPMorgan Chase & Co. (NYSE:JPM) is a financial services company. On January 4, 2024, JPMorgan Chase & Co. (NYSE:JPM) stock closed at $171.41 per share. One-month return of JPMorgan Chase & Co. (NYSE:JPM) was 8.13%, and its shares gained 24.26% of their value over the last 52 weeks. JPMorgan Chase & Co. (NYSE:JPM) has a market capitalization of $495.548 billion.
In its fourth quarter 2023 investor letter, Vltava Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM):
“Last spring, the US went through a brief banking crisis that cost several smaller and medium-sized banks their lives. One of them, First Republic Bank, with assets of $230 billion, went into receivership and was bought out by the largest US bank, JPMorgan Chase & Co. (NYSE:JPM). The acquisition terms were very favourable for JPM and the facts that few, if any, other banks could have taken over the whole of First Republic Bank in its then-present state while guaranteeing more than $100 billion of its deposits played a role. JPM could do it. It is not only the largest, but also by its balance sheet the strongest US bank and, in our opinion, clearly the best managed. It has come out of this crisis even stronger. We have actively followed the banking sector for 20 years in many countries around the world. Our view is that a well-managed bank can be a very good long-term investment but that it is better to focus on the best and highest quality available. Banking is not a sector where it pays to trade quality for cheaper valuations. That is why we hold JPM.”
A group of business people discussing plans around a boardroom table adorned with a financial services company logo.
JPMorgan Chase & Co. (NYSE:JPM) is in 18th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 109 hedge fund portfolios held JPMorgan Chase & Co. (NYSE:JPM) at the end of third quarter which was 106 in the previous quarter.
We discussed JPMorgan Chase & Co. (NYSE:JPM) in another article and shared the list biggest stocks that benefit from high interest rates. In addition, please check out our hedge fund investor letters Q4 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.
