JPM · 10-Q · 2026Q3 · Full report

Principal Investment Growth

JPMORGAN CHASE & CO · 2026-11-03 · Importance 50 · Surprise 58 · Matches filing data

Principal investment carrying value reached $53.2 billion at September 30, 2026, up from $47.0 billion at December 31, 2025. Private equity, various debt and equity instruments, and real assets increased to $17.2 billion from $11.3 billion. The increase was primarily due to equity investments related to the Security and Resiliency Initiative. Tax-oriented investments, primarily in alternative energy and affordable housing, were $36.0 billion, compared with $35.7 billion at year-end 2025.

Key facts

• JPMorgan Chase & Co.'s principal investments in private equity, various debt and equity instruments, and real assets were $17.2 billion at September 30, 2026, compared with $11.3 billion at December 31, 2025; the increase was primarily due to Security and Resiliency Initiative-related equity investments. source
• JPMorgan Chase & Co. held equity securities without readily determinable fair values with a carrying value of $9.978 billion as of September 30, 2026, compared with $4.808 billion as of September 30, 2025. source
• JPMorgan Chase & Co.'s total principal investment carrying value was $53.2 billion at September 30, 2026, compared with $47.0 billion at December 31, 2025. source
• JPMorgan Chase & Co.'s tax-oriented principal investments were $36.0 billion at September 30, 2026, compared with $35.7 billion at December 31, 2025. source
• For JPMorgan Chase & Co.'s other debt and equity exposures, a 10% market-value decline had a potential $1.212 billion loss at September 30, 2026, compared with $1.549 billion at December 31, 2025. source

Impact estimates