Letters by company
Jpmorgan Chase & CO
11 letters discussing JPM. Everything written about it on this site is on its ticker page.
- Andrew Hill Investment Advisors 2025.Q1 Client Letter Andrew Hill Investment Advisors cut equity exposure, added high-quality bond ladders and allocated 2% to 3% of most client portfolios to gold as tariff uncertainty and federal budget cuts clouded the economic outlook. Portfolios favor healthcare, financials and utilities, with Johnson & Johnson, Progressive, JPMorgan Chase and Microsoft among core defensive holdings. 2025.Q1 AAGC $1.1MAAPL $5.1TAMZN $2.8T
- Andrew Hill Investment Advisors 2024.Q4 Client Letter Andrew Hill Investment Advisors reduced equity exposure after appreciation pushed allocations above client policy targets, directing proceeds into high-quality bond ladders. The firm trimmed core technology and utility holdings, increased financial exposure through Goldman Sachs, and added Johnson & Johnson and United Therapeutics while monitoring tariff, immigration and inflation risks. 2024.Q4 AAPL $5.1TAMZN $2.8TANET $230B
- QuantStreet Capital June 2026 Update QuantStreet increased value-stock exposure through Vanguard Value ETF, arguing that its bank, industrial, energy and consumer holdings offer a less volatile alternative to technology-led benchmarks. The firm expects robust earnings growth and AI infrastructure spending to support markets over the medium term, while allowing for a near-term pullback after the recent technology rally. June 2026 —
- Aristotle Funds Aristotle Ultra Short Income Fund Commentary Aristotle Ultra Short Income Fund emphasized investment-grade corporates, AAA CLO debt and senior ABS while keeping a credit bias and longer-than-benchmark duration. The portfolio favored global systemically important banks, utilities, selective office REITs and data-center technology issuers, while remaining cautious on consumer cyclicals, healthcare names facing M&A pressure and retail. second quarter of 2026 —
- Bretton Fund 2026 Q1 Shareholder Letter American Express, Visa and Mastercard are defended as durable payment networks whose fraud protection, credit functions and exception handling are unlikely to be displaced by AI agents or crypto. Alphabet and Microsoft weakened with technology shares, while Ross Stores and TJX benefited from continued demand for discounted in-store apparel. 1st Quarter 2026 AXP $215BMA $545BV $763B
- Broadleaf Partners Growth Equity Portfolio First Quarter Review Broadleaf Growth Equity Portfolio held its positioning amid war in Iran, private-credit concerns and AI fatigue, arguing that shifting market leadership has made near-term trading convictions difficult. The portfolio sees hyperscaler spending as supportive for broad beneficiaries, but questions whether returns on that investment can sustain both beneficiaries and the largest technology spenders. Q1 2026 —
- Regency Wealth Management Eyes Wide Open Regency Wealth Management argues that consumer-sentiment surveys overstate economic weakness relative to inflation, credit and corporate data. It remains cautiously optimistic, favors diversification including overseas markets, watches long Treasury yields and expects fewer Federal Reserve rate cuts as trade-policy uncertainty persists. second quarter 2025 —
- Frank Capital Partners Frank Value Fund Q1 2025 Letter to Shareholders Frank Value Fund increased exposure to independent power producers, arguing that electrification demand from AI data centers, electric vehicles and reshoring should support resilient earnings. The fund swapped Altria Group for a power producer after the latter’s selloff and retained cash for further dislocations while maintaining valuation discipline. Q1 2025 —
- Horizon Kinetics 1st Quarter Commentary Horizon Kinetics argues that AI-driven data-center construction will intensify demand for power, natural gas, water and industrial inputs, while broad indexes concentrate exposure in their consumers rather than suppliers. It favors limiting-factor resource owners and infrastructure, using Aris Water Solutions, San Juan Basin Royalty Trust and Hawaiian Electric as cases where capacity constraints or temporary capital burdens obscure longer-term value. 1st Quarter 2025 ARIS $3.2BHE $1.5BLB $6.2B
- Patient Capital Management 3Q24 Portfolio Activity and Attribution Patient Opportunity Equity added QXO and Dave & Buster’s, funded in part by exits from JPMorgan and Everi following its acquisition. The portfolio argues that QXO’s acquisition-led building-products strategy, Kosmos’s approaching cash-flow inflection, and Seadrill’s tightening deepwater-rig market offer idiosyncratic upside beyond macro conditions. 3Q24 BABA $254BET $70BEXPE $35B
- Andrew Hill Investment Advisors The Client Letter Andrew Hill Investment Advisors maintained a defensive tilt through natural gas, healthcare, gold and short-duration fixed income while adding Tesla, Deere, Microsoft, Nvidia and Henry Schein. The firm reduced JPMorgan, Goldman Sachs and Nvidia, avoided most real estate and oil exposure, and argued that inflation, war-related supply shocks and tighter Federal Reserve policy would keep markets volatile. 1st Quarter 2022 AAPL $5.1TDE $174BMSFT $3.9T
