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Swiss National Bank’s U.S. Stock Holdings Hit A Record $63.4 Billion

 

Being able to print your own money and buy stocks at any price sure can be fun. Just as the SNB which unlike many other (if ever fewer) central banks admits to doing just that.

In its latest 13F filing, the Swiss National Bank reported that the value of its portfolio of US stocks rose again in the fourth quarter, increasing by 1.6% from $62.4 billion as of Sept. 30 to a record high $63.4 billion at the end of the year.

Over the past two years, the total Assets under management of this massive hedge fund, which occasionally engages in massive currency manipulation with disastrous results, have increased from $26.7 billion to $63.4 billion, a 138% increase, mostly as a result of relentless currency manipulation and monetization of various assets, including both bonds and stocks.

Value of Swiss National Bank US Stock Holdings, June 2014 - December 2016

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Value of Swiss National Bank US Stock Holdings, June 2014 - December 2016

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In its latest 13F, the SNB reported stakes in 2,564 companies, up from 2,536 in the previous quarter.

SNB policy makers, among them Governing Board Member Andrea Maechler, have said many times that they invest for the benefit of monetary policy, replicating broad-based indexes, and not to generate a profit, although with the S&P500 at all time highs, they have also achieved that. The SNB excludes some companies on ethical grounds, according to Bloomberg.

The SNB’s biggest holdings as of December 31 were the following:

Swiss National Bank Top Holdings, December 2016

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Swiss National Bank Top Holdings, December 2016

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But the biggest surprise in the latest filing – aside from a central bank admitting to buying stocks of course – is that for the second consecutive quarter, the amount of AAPL shares, the SNB’s top position, has actually declined, dropping to 15 million as of Dec. 31, from a peak of 15.6 million as of June 30. The value, however remained roughly unchanged making some wonder if the SNB may have hit its limit when it comes to US equity allocation, if only for the time being.

Swiss National Bank AAPL Holdings, Q2 2014 - Q4 2016

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Swiss National Bank AAPL Holdings, Q2 2014 - Q4 2016

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Full story here
Tyler Durden
ZeroHedges' Tyler Durden is the hero of Fight Club, the 1999 movie based on Chuck Palahniuk's novel that reflected Chuck's experience in the Cacophony Society Quote: "Goddamn it, an entire generation pumping gas, waiting tables, slaves with white collars. Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don’t need. We’re the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War’s a spiritual war… our Great Depression is our lives. We’ve all been raised on television to believe that one day we’d all be millionaires, and movie gods, and rock stars. But we won’t. And we’re slowly learning that fact. And we’re very, very pissed off." --> see more about Tyler on snbchf
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