SNB's Pile of U.S. Shares Hits $93 Billion on Buoyant Markets

(Bloomberg) -- The Swiss National Bank’s holdings of U.S. stocks touched a record $92.7 billion in the second quarter, benefiting from a rise in equity markets.

The SNB’s U.S. regulatory filing is one of the few glimpses into its vast investment portfolio, amassed as a consequence of its interventions to weaken the franc. It revealed stakes in 2,554 U.S. companies, including heavyweights such as Apple Inc., Facebook and Johnson & Johnson.

With the Swiss currency at a two-year high against the euro on Friday, propelled by bets on more monetary stimulus in the euro area, there’s renewed scrutiny on the SNB’s activities for any indications of interventions. Data suggest it may have waded into the market last week.

The SNB’s holdings of foreign exchange are invested in both stocks and bonds, with the bulk in dollars and euros. U.S. stocks rallied in the three months through June, with the Dow Jones Industrial Average climbing 2.6%.

A spokeswoman for the SNB declined to comment.

To contact the reporter on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Jana Randow

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