How The Swiss National Bank Quietly Built a $1 Billion Mining Share Portfolio.
The SNB Began Accumlating Gold and Silver Mining Shares in early 2013.
Initial Reported Mining Share Holdings as of June 30, 2013, Were Just Under $500 Million.
Please book mark this page as further information about prior and subsequent Swiss National Bank SEC filings will be added.
SNB Begins Stacking Mining Shares
The Swiss National Bank has been quietly building a massive gold and silver mining share portfolio. The Swiss National Bank first reported its mining share and other U.S. equity holdings with the U.S. Securities and Exchange Commission on August 9, 2013, for the quarter ended June 30, 2013. The SNB has updated its U.S. equity holdings (valued at over $63 billion), including its mining portfolio, every quarter since then.
Earlier this week we reported the Swiss National Bank’s silver and gold mining share portfolio that included thirty-two mining share companies worth nearly $1 Billion as of early August 2016.
The Truth About The Swiss National Bank’s Gold and Silver Mining Share Holdings
Set forth below is the Swiss National Bank’s top twenty five initial mining share holdings as of June 30, 2013 and their values as of July 1, 2013.
The Swiss National Bank’s Gold and Silver Mining Share Holdings as of June 30, 2013
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As of June 30, 2013, the SNB held a total of thirty-six gold and silver mining companies. In addition to the twenty-five mining companies above, the SNB also owned the following:
Silver Corp Metals $441,696
Seabridge Gold $319,812
Timmins Gold $278,130
Primero Mining $275,625
Mcewan Mining $219,500
Paramount Gold $125,073
Fortuna Silver Mines $106,800
Asanko Gold $103,500
Mag Silver $50,900
The total value of the SNB initially reported mining share holdings, including all thirty-six positions was $497,822,580.
Set forth below is the Swiss National Bank’s top twenty-five mining share holdings as of June 30, 2016 and their values as of July 1, 2013.
The Swiss National Bank’s Gold and Silver Mining Share Holdings as of June 30, 2016
As of June 30, 2016, the SNB held a total of thirty-two gold and silver mining companies. In addition to the twenty-five mining companies above, the SNB also owned the following:
Nevsun Resources $1,089,326
Richmont Mines $1,060,171
Seabridge Gold $833,490
Primero Mining $495,425
The total value of the SNB;s reported mining share holdings as of June 30, 2016, including all thirty-two positions was $994,758,108.
June 30, 2013 to June 30, 2016 Portfolio Comparison
- Over the past three years the SNB gold and silver mining porfolio has nearly doubled in value as a result of adding to positions and increases in the prices of gold and silver shares.
- Value of the SNB Gold and Silver Mining Portfolio on July 1, 2013: $497,822,580
- Value of the SNB Gold and Silver Mining Portfolio on August 5, 2016: $994,758,108 +$496,935,528 (+99.82%)
- The initial SNB mining share portfolio contains some names no longer in the portfolio because they either went bankrupt or were sold.
- All of the top ten gold and silver mining shares in the Swiss National Bank’s initial portfolio were still there as of June 30, 2016, other than Barricks.
- Of the initial top twenty-five gold and silver mining shares in the portfolio, all are still held by the SNB other than Barricks (sold) and Allied Nevada (bankruptcy).
- SNB stocks with the greatest percentage gains since June 30, 2013: Stillwater Mining 250%, Nova Gold 239% and Mag Silver 209%
- SNB stocks with the greatest percentage losses since June 30, 2013: Yamana Gold -39%, ElDorado Gold -34% and Alamos Gold -26%
- SNB positions with the greatest share increases:Tahoe Resources +425%, Primero Mining +352%, Silver Wheaton +314%
- SNB positions with the greatest dollar value increases since June 30, 2013 : Silver Wheaton +$114,594,414, Franco Nevada +$102,831,989 and Newmont Mining +$91,986,395
- SNB owned 1% or more of the float or shares outstanding of Silver Wheaton, Agnico Mines, El Dorado, Yamana Gold and Kinross as of June 30, 2016. (chart update coming)
SNB share data from sec.gov, share prices, shares outstanding/float from Yahoo Finance.
Note: the share amounts filed with the Securities and Exchange Commission by the Swiss National Bank are subject to the following caveat by the SEC: “The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete.”
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