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The Swiss National Bank Doubled Its Holdings Of AAPL Stock In 2015
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 02/05/2016 14:59
In the spring of 2015 we showed something unexpected: one of the biggest buyers, and holders, of AAPL stock was none other than the already quite troubled – in the aftermath of its disastrous Swiss Franc peg which ended up costing it tens of billions in losses – largest hedge fund in Switzerland, its central bank, the Swiss National Bank.
What is curious is that unlike the Fed, the hedge fund also known as the Swiss National Bank not only proudly admits it purchases stocks, ETFs and virtually anything else on a daily basis, but every quarter it discloses the composition of its equity holdings,which at 18% of its $560 billion in foreign currency reserves, amounted to just over $100 billion.
Conveniently, the SNB also discloses the breakdown of its long US equity book in a 13-F and according to the latest filing we now know that in a year in which AAPL not only entered a bear market, but dropped to multi-year lows, the SNB almost doubled its total AAPL holdings, which as of December 31, 2015 amounted to 10.4 million shares, up from 5.6 million a year earlier, which means that at least one of the bigger AAPL bagholders, with a position amounting to just under $1 billion, was happy to add to its AAPL position as the stock was tumbling. Too bad not everyone else can literally print money and buy stocks.
The post The Swiss National Bank Doubled Its Holdings Of AAPL Stock In 2015 appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/05/the-swiss-national-bank-doubled-its-holdings-of-aapl-stock-in-2015-2/
