Apple Inc. (AAPL), Exxon Mobil Corporation (XOM): Swiss National Bank Sours on These Stocks

According to a U.S. Regulatory filing, the Swiss National Bank (SWX: SNBN) has trimmed down its investment in Apple Inc. (NASDAQ:AAPL), Johnson & Johnson (NYSE:JNJ), and Exxon Mobil Corporation (NYSE:XOM) in the second quarter of 2014.

Some important points of this filing include:

  • SNB cuts down its Apple Inc. (NASDAQ:AAPL) shares by 0.3% on June 30 as compared to the end of the March.
  • The Zurich Central Bank decreased its shares in Exxon Mobil Corporation (NYSE:XOM) and Johnson & Johnson (NYSE:JNJ), by 0.2%.
  • The bank increased its investment in Merck & Co., Inc. (NYSE:MRK) by 1.1%.

Even after cutting down its holdings in Apple Inc. (NASDAQ:AAPL), Johnson & Johnson (NYSE:JNJ), and Exxon Mobil Corporation (NYSE:XOM), these companies are still the top equity holdings of the bank in the US market. SNB is known for its major investments in equity and the primary reason behind these share holdings is the bank’s policy to invest 16% of its foreign reserves in the stock market.

The bank witnessed an increase in its foreign reserves in September 2011 after it introduced a minimum exchange rate of 1.20 per Euro for every Franc. According to the bank, its foreign reserves grew up to $499 Billion in the last month. SNB has to disclose its foreign reserves to the SEC (Securities and Exchange Commission), although the bank does not have to disclose its individual holdings in different companies. The company has stakes in over 2500 US-listed companies, as shown in its June SEC filings.

Schweizerische National bank is a Central Bank known for its banking and financial services. The bank follows a monetary policy that ensures maximum benefits for Switzerland. Its primary clientele include government agencies (Swiss cantons) and Swiss banks that seek liquidity and offer foreign currencies and securities in return. The bank is known for managing gold, international payment instruments, and foreign exchange.

This article has been written by Prakash Pandey and edited by Serkan Ünal.


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