10 Stocks That Members of Congress Own

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

Number of Hedge Fund Holders: 123

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm and one of the largest banks in the world by assets. It operates through four main segments: Consumer & Community Banking, Corporate & Investment Banking, Asset & Wealth Management, and Commercial Banking. The company provides a wide range of financial services, including retail and corporate banking, investment banking, asset management, and treasury services. JPM serves individuals, businesses, institutions, and governments worldwide, generating revenue through interest income, fees, trading, and investment banking activities. It also plays a major role in global markets, capital raising, and financial advisory services. The US-based bank ranked fifth on our recent list of 10 Most Profitable Large Cap Stocks to Buy Now.

JPMorgan Chase & Co. (NYSE:JPM) has showcased robust growth with investment banking fees expected to rise by mid-teens percentage year-over-year and market revenues projected to grow by low double digits as of early 2025. The bank has also streamlined its operations by fully integrating its Commercial Bank and Investment Bank divisions, which has enhanced service delivery and eliminated organizational inefficiencies. On the technology front, JPM has made substantial strides, with 65% of its applications now handling significant workloads in the cloud, and 95% either migrated to strategic data centers or operating on the cloud. To support these advancements, the bank plans to raise its technology spending from just under $17 billion in 2024 to an estimated $18 billion in 2025, prioritizing cloud migration, optimization of data centers, and the implementation of AI solutions.

Incorporating AI has been a game-changer for JPMorgan Chase & Co. (NYSE:JPM), with over 450 AI use cases now applied across multiple areas such as risk management, payment processing, trade optimization, and customer service. The bank has provided 200,000 employees with access to its proprietary GenAI platform, reinforcing its technological edge. Internationally, JPM sees substantial growth potential in its payments business and International Private Bank services, while domestic opportunities lie in expanding its middle-market business and growing its retail branch network. These initiatives highlight the bank’s commitment to leveraging innovation and strategic expansion to drive long-term growth. Besides 123 hedge funds owning the stock, JPM is also one of the stocks owned by Congress.