Swiss National Bank Portfolio holdings
The Swiss National Bank (SNB), founded in 1907 and headquartered in Zurich with an office in Bern, is Switzerland’s central bank, responsible for conducting monetary policy, issuing the Swiss franc, and ensuring price stability, while uniquely managing a massive investment portfolio. Unlike most central banks, the SNB is a joint-stock company with shares traded on the SIX Swiss Exchange, owned roughly 55% by public entities like cantons and 45% by private investors, yet it operates independently under federal oversight. It holds over $800 billion in foreign currency reserves as of late 2024—invested in global equities, bonds, and gold—to manage the franc’s value, famously intervening in markets to prevent excessive appreciation, as seen with the 2015 abandonment of the euro peg. Led by Chairman Thomas Jordan until his planned exit in September 2024, the SNB balances its dual role as a monetary authority and a significant global investor, influencing both Swiss and international financial stability.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceuticals
TEVA
|
+$145M |
| 2 |
Fortis
FTS
|
+$68.9M |
| 3 |
Intuitive Surgical
ISRG
|
+$47.9M |
| 4 |
Keurig Dr Pepper
KDP
|
+$39.6M |
| 5 |
Medtronic
MDT
|
+$34.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LNKD
LinkedIn Corporation
LNKD
|
+$63.4M |
| 2 |
Hershey
HSY
|
+$51.3M |
| 3 |
American Tower
AMT
|
+$50.3M |
| 4 |
Alcoa
AA
|
+$34.6M |
| 5 |
LLL
L3 Technologies, Inc.
LLL
|
+$32.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.54% |
| 2 | Healthcare | 14.34% |
| 3 | Industrials | 10.58% |
| 4 | Consumer Discretionary | 10.4% |
| 5 | Communication Services | 10.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Ovintiv
OVV
$17.6B
| $62.6M | 0.1% |
1,067,840
-8,560
| -0.8% | -$488K |
|
227
PACCAR
PCAR
$69.1B
| $62.4M | 0.1% |
1,464,458
+6,600
| +0.5% | +$266K |
|
228
Synopsys
SNPS
$78.8B
| $62.3M | 0.1% |
1,059,136
-66,300
| -6% | -$3.95M |
|
229
Markel Group
MKL
$22.8B
| $62M | 0.1% |
68,600
+29,800
| +77% | +$26.6M |
|
230
Analog Devices
ADI
$187B
| $62M | 0.1% |
853,668
| – | – |
|
231
Williams Companies
WMB
$87.9B
| $61.8M | 0.1% |
1,986,141
+10,000
| +0.5% | +$301K |
|
232
Public Service Enterprise Group
PEG
$37.2B
| $61.8M | 0.1% |
1,409,177
+6,500
| +0.5% | +$271K |
|
233
Cummins
CMI
$87.4B
| $61.2M | 0.1% |
447,519
-3,600
| -0.8% | -$482K |
|
234
Campbell Soup
CPB
$6.69B
| $60.3M | 0.1% |
996,853
+22,300
| +2% | +$1.25M |
|
235
Devon Energy
DVN
$49.9B
| $59.9M | 0.09% |
1,312,526
+4,600
| +0.4% | +$203K |
|
|
ATVI
236
DELISTED
Activision Blizzard
ATVI
| $59.7M | 0.09% |
1,652,134
+19,000
| +1% | +$760K |
|
237
Restaurant Brands International
QSR
$25.4B
| $58.9M | 0.09% |
1,238,161
-7,300
| -0.6% | -$337K |
|
|
CNH
238
CNH Industrial
CNH
$16.9B
| $58.8M | 0.09% |
7,742,219
-41,812
| -0.5% | -$293K |
|
239
Sherwin-Williams
SHW
$88.1B
| $58.7M | 0.09% |
654,783
+1,500
| +0.2% | +$133K |
|
240
Dollar General
DG
$27B
| $58.3M | 0.09% |
786,852
-189,773
| -19% | -$13.9M |
|
241
CGI
GIB
$15.6B
| $58M | 0.09% |
1,209,900
-9,500
| -0.8% | -$452K |
|
242
Arch Capital
ACGL
$33.5B
| $57.9M | 0.09% |
2,014,404
+618,000
| +44% | +$16.8M |
|
243
Amphenol
APH
$207B
| $57.8M | 0.09% |
3,439,800
+25,200
| +0.7% | +$420K |
|
244
International Paper
IP
$21.9B
| $57.7M | 0.09% |
1,148,947
+5,597
| +0.5% | +$259K |
|
245
Imperial Oil
IMO
$62.3B
| $57.5M | 0.09% |
1,655,000
-13,100
| -0.8% | -$440K |
|
246
Zimmer Biomet
ZBH
$18.7B
| $57.5M | 0.09% |
573,726
+3,605
| +0.6% | +$386K |
|
247
Progressive
PGR
$124B
| $57.4M | 0.09% |
1,616,834
| – | – |
|
248
Aramark
ARMK
$14.6B
| $57.1M | 0.09% |
2,215,585
+888,893
| +67% | +$23.2M |
|
249
Omnicom Group
OMC
$23.2B
| $56.1M | 0.09% |
658,777
-1,500
| -0.2% | -$126K |
|
250
Edwards Lifesciences
EW
$53B
| $55.6M | 0.09% |
1,778,994
+12,300
| +0.7% | +$399K |
|
Similar funds
Swiss National Bank's Q4 2016 Portfolio in Review
As of Q4 2016, Swiss National Bank held 2,615 positions worth $63.4B, up 1.6% from $62.4B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Trading was light in Q4 2016: portfolio turnover was 5%. Swiss National Bank opened 79 new positions and exited 51, leaving the 2,615-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 16% a quarter earlier, followed by Healthcare and Industrials.
- Swiss National Bank's largest Q4 2016 buy was Teva Pharmaceuticals: 3,630,251 shares worth $132M.
- Swiss National Bank added most to Intuitive Surgical in Q4 2016, an estimated $47.9M increase.
- Swiss National Bank's biggest Q4 2016 reduction was Hershey, cutting an estimated $51.3M.
- Swiss National Bank fully exited LinkedIn Corporation in Q4 2016, selling an estimated $63.4M.
- Swiss National Bank's ten largest holdings make up 15% of its $63.4B portfolio in Q4 2016.
- Swiss National Bank opened 79 new positions and closed 51 in Q4 2016.
- Swiss National Bank's portfolio value rose 1.6% quarter-over-quarter to $63.4B.
Based on Swiss National Bank's 13F filing for Q4 2016, filed 8 Feb 2017.