On Friday, Martin Capital Partners, LLC disclosed selling 12,035 shares of JPMorgan Chase & Co. (JPM -0.05%) worth an estimated $3.6 million based on averages in the third quarter.
What happened
According to a filing with the Securities and Exchange Commission on Friday, Oregon-based Martin Capital Partners, LLC reduced its position in JPMorgan by 12,035 shares as of the third quarter of 2025. The estimated transaction value was $3.6 million. The fund now reports holding 23,805 shares worth $7.51 million.
What else to know
This was a partial sale; Martin Capital's JPMorgan position now makes up 2.9% of the firm's reported assets.
Top holdings after the filing:
- AMGN: $8.5 million (3.3% of AUM)
- CME: $8.4 million (3.3% of AUM)
- CFR: $8.4 million (3.2% of AUM)
- ASML: $8.3 million (3.2% of AUM)
- MSFT: $8.2 million (3.2% of AUM)
As of Monday, JPMorgan shares were priced at about $307, up about 46% over the past year and outperforming the S&P 500 by 28 percentage points.
Company overview
| Metric | Value |
|---|---|
| Net income (TTM) | $56.53 billion |
| Dividend yield | 1.7% |
| Price (as of market close on Friday) | $310.03 |
| 5-year revenue CAGR | 14.4% |
Company snapshot
- JPMorgan offers diversified financial products and services, including consumer banking, investment banking, commercial banking, and asset and wealth management.
- Serves a broad client base, including individual consumers, small and large businesses, institutional investors, governments, and non-profit organizations.
- Operates globally with a significant presence in the United States and international markets.
JPMorgan Chase & Co. is one of the largest global financial institutions, distinguished by its broad service offerings and significant scale. The company leverages its integrated banking model to capture value across consumer, corporate, and institutional segments.
Foolish take
Martin Capital Partners’ decision to trim its JPMorgan stake by roughly $3.6 million might simply be profit-taking after a strong run. The stock has climbed 46% over the past year, outperforming the S&P 500 by nearly 30 percentage points, and it recently hovered near record highs of about $318. For many institutions, such a rally presents an opportunity to rebalance rather than a loss of conviction.
JPMorgan’s latest results help explain that strength. The bank posted $15 billion in net income for the second quarter, with broad-based gains across investment banking and wealth management. Average deposits in its consumer division were down 1% year over year, but investment banking fees rose 7%, and markets revenue jumped 15% thanks to strong performance in both fixed income and equities.
CEO Jamie Dimon described the results as another “quarter of strong performance,” but warned of “significant risks” from trade tensions, fiscal deficits, and lofty asset prices. Still, with a 15% CET1 ratio and more than $1.5 trillion in liquidity, JPMorgan remains one of the most well-capitalized banks globally. The firm is slated to report earnings next Tuesday.
Glossary
13F: A quarterly SEC filing required from institutional investment managers to disclose their equity holdings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Partial sale: Selling only a portion of a fund's holdings in a particular security, not the entire position.
Reportable assets: Investments that must be disclosed in regulatory filings, such as the 13F report.
Outperforming: Achieving a higher return than a specific benchmark or index over a set period.
Top holdings: The largest investments in a fund’s portfolio, usually ranked by market value.
Integrated banking model: A business approach where multiple banking services are offered under one organization to serve diverse client needs.
Institutional investors: Organizations, such as pension funds or asset managers, that invest large sums of money in securities.
TTM: The 12-month period ending with the most recent quarterly report.
