5 Best Spring Stocks To Buy Now

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

Number of Hedge Fund Shareholders: 118

Hedge fund ownership of JPMorgan Chase & Co. (NYSE:JPM) rose by 15% during Q1, vaulting the company into second place on our list of the best spring stocks to buy now. JPMorgan has had remarkably steady levels of hedge fund ownership over the years, with no less than 92 and no more than 132 funds long the stock during any quarter over the past ten years.

One of the 15 Most Acquisitive Public Companies in the US, JPMorgan Chase & Co. (NYSE:JPM) has made more than 160 acquisitions since 2000, with its latest being the acquisition of First Republic after the lender was seized by regulators and sold to the investment bank. JPMorgan snagged a great deal in the FDIC’s rush to unload First Republic, acquiring about $18 billion in net assets for the $10.6 billion sticker price.

Giverny Capital made no qualms about JPMorgan Chase & Co. (NYSE:JPM) being the best-managed bank in America 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.”