Swiss National Bank (SNBN)It is like holding a risk-free of default US equity market fund denominated in CHF with a total return of 0.3%. It's an interesting business: print money and buy stocks.
As at 31 December 2020, the key asset allocation data for the foreign exchange reserves and the Swiss franc bond investment portfolio were as follows: USD 36%, EUR 40%, JPY 8%, GBP 6%.
Their last reported 13F filing for Q3 2020 included $127,874,338,000 in managed 13F securities and a top 10 holdings concentration of 24.15%. Swiss National Bank's largest holding is Apple Inc. with shares held of 67,699,096.
Equities are managed on a purely passive basis, whereby broad market indices of advanced and emerging economies are replicated. Exchange rate and interest rate risks are managed using derivative instruments such as interest rate swaps, interest rate futures, forward foreign exchange transactions and foreign exchange options. In addition, futures on equity indices are used to manage the equity investments.
1Y4 trade ideas
SNB - Central Bank Canary in the Coal Mine exits to the shortAt long last, one of our most important Canaries in the Coal Mine - the Swiss National Bank - has exited a lengthy consolidation pattern to the downside. Frankly, we are surprised it lasted this long given its exposure to long US mega-cap.
Whatever is going on in there, it needs to take out 5400 on the upside to nullify today's short signal using the simple www.40in20out.com trend trading approach.
(For what it's worth, for some reason our PineScript does not work on the delayed quotes on this exchange. We continue to investigate.)
SNB - a new move down is ready to startThe Swiss National Bank is presenting a very interesting chart.
After a long period of 5 Waves up, it has entered into a correction phase.
We had the first move down (a) we most probably saw the reaction (b) and a new move down (maybe a sharp one) will follow (c).
This for me is a nice Short candidate.
Note: Maybe some investors do not know it, but SNB has a portfolio of stocks.
As of June 30 2018, the portfolio was as follows (just click the link)
www.nasdaq.com