Pound sterling
GBPBase currency of the company and of the Jersey reporting entity.
Base currencyCurrencies
Cash is a position, not a leftover. Reserves are held across the currencies the portfolio actually earns in.
In short
Bellwether Holdings holds reserves in seven currencies: sterling as the base currency, plus euro, US dollar, Japanese yen, Swiss franc, Swedish krona and Norwegian krone. Reserves match where the portfolio earns rather than expressing a macro view, so cash is treated as a position rather than a residual.
Holdings
Euro
EURThe largest non-base holding, matching the weight of the Amsterdam, Paris, Madrid and Frankfurt listings.
ReserveUS dollar
USDHeld against the NYSE and Nasdaq positions and most digital asset pricing.
ReserveJapanese yen
JPYHeld against the Tokyo listing rather than as a macro view.
ReserveSwiss franc
CHFA defensive reserve, held in size only when European risk is elevated.
ReserveSwedish krona
SEKHeld against the Stockholm listing.
OperatingNorwegian krone
NOKA small reserve with a loose correlation to the energy positions.
Operating| Holding | Ticker | Venue | Latest price | High since 1999 | Low since 1999 |
|---|---|---|---|---|---|
| Pound sterling | GBP | Base currency | … | ||
| Euro | EUR | Reserve | … | … | … |
| US dollar | USD | Reserve | … | … | … |
| Japanese yen | JPY | Reserve | … | … | … |
| Swiss franc | CHF | Reserve | … | … | … |
| Swedish krona | SEK | Operating | … | … | … |
| Norwegian krone | NOK | Operating | … | … | … |
Prices are delayed and indicative, last refreshed on load. They are shown for identification only and are not a valuation of the company's position.
Why this group is held
Sterling is the base currency. Everything else is held either to match a future liability or to avoid being forced to convert at a bad moment.
Frequently asked questions
What is Bellwether Holdings' base currency?
Sterling. The company is incorporated in Jersey and reports in pounds, so every other currency reserve is held relative to that base.
Which currencies does the company hold?
Seven: pound sterling as base, euro as the largest non-base reserve, US dollar, Japanese yen, Swiss franc, Swedish krona and Norwegian krone.
Does Bellwether trade currencies actively?
No. Reserves are held to match where the portfolio earns and to avoid being forced to convert at an unfavourable moment. Bellwether describes cash as a position rather than a leftover, but not as an activity.
Why hold Swedish krona and Norwegian krone?
The krona is held against the Nasdaq Stockholm listing of H&M. The krone is a small reserve with a loose correlation to the energy positions, so it moves in a related direction to part of the equity book.