Begin by placing the pinto beans in a large colander and rinsing them thoroughly. Inspect the beans, discarding any that are damaged or misshapen, and set the cleaned beans aside.

Set your 6-quart (or larger) Instant Pot to the SAUTE setting. Add the olive oil and allow it to heat up.

Once the oil is hot, add the chopped onion and jalapeno. Sauté for about 2 minutes, then add the minced garlic and cook for an additional 30 seconds until fragrant.

Pour in a few splashes of chicken stock to deglaze the pot, scraping the bottom to remove any stuck bits of food to avoid a BURN warning.

Add the remaining chicken stock, water, bay leaves, kosher salt, ground cumin, dried oregano, cayenne pepper (if using), and the rinsed beans. Stir gently to combine all the ingredients.

Seal the Instant Pot and set it to cook on HIGH (manual) for 45 minutes.

After the cooking time is complete, allow the pressure to release naturally for 25 minutes. Then, vent to release any remaining pressure and carefully open the lid.

You will notice that the beans are quite liquidy. Discard the bay leaves and reserve 2 cups of the cooking liquid in a bowl or measuring cup, then drain the excess liquid from the beans.

Return the beans to the pot. Using an immersion blender or a potato masher, puree the beans to your desired consistency, adding some of the reserved liquid as needed. Alternatively, you can blend the beans in batches in a blender, allowing them to cool slightly first to prevent splattering.

Taste the beans and adjust the seasoning as needed. Serve with your choice of toppings and enjoy!