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 | |
|---|---|---|---|---|---|---|
|
NBL
301
DELISTED
Noble Energy, Inc.
NBL
| $45.5M | 0.07% |
1,196,782
+6,600
| +0.6% | +$245K |
|
302
Coca-Cola Europacific Partners
CCEP
$46.9B
| $45.3M | 0.07% |
1,430,789
-6,627
| -0.5% | -$233K |
|
303
Open Text
OTEX
$5.99B
| $45M | 0.07% |
1,459,600
+95,400
| +7% | +$2.97M |
|
304
Hilton Worldwide
HLT
$70B
| $45M | 0.07% |
551,367
+49,600
| +10% | +$3.65M |
|
305
Bath & Body Works
BBWI
$3.89B
| $44.8M | 0.07% |
842,012
-93,270
| -10% | -$5.3M |
|
306
Willis Towers Watson
WTW
$31.9B
| $44.7M | 0.07% |
365,391
+1,000
| +0.3% | +$125K |
|
307
AerCap
AER
$23.5B
| $44.5M | 0.07% |
1,070,463
-37,600
| -3% | -$1.58M |
|
308
Expeditors International
EXPD
$23.3B
| $44.3M | 0.07% |
836,906
+235,500
| +39% | +$12.3M |
|
309
Cintas
CTAS
$81.1B
| $43.7M | 0.07% |
1,510,992
+10,800
| +0.7% | +$303K |
|
310
Digital Realty Trust
DLR
$70.8B
| $43.4M | 0.07% |
441,955
| – | – |
|
311
EQT Corp
EQT
$33.8B
| $43.4M | 0.07% |
1,218,732
+17,635
| +1% | +$655K |
|
312
Lincoln National
LNC
$8.75B
| $43M | 0.07% |
649,264
-13,300
| -2% | -$774K |
|
|
XLNX
313
DELISTED
Xilinx Inc
XLNX
| $42.4M | 0.07% |
703,084
| – | – |
|
314
Ulta Beauty
ULTA
$23.6B
| $42.2M | 0.07% |
165,700
| – | – |
|
315
RenaissanceRe
RNR
$13.2B
| $42M | 0.07% |
308,375
+189,200
| +159% | +$24.2M |
|
|
NLSN
316
DELISTED
Nielsen Holdings plc
NLSN
| $41.7M | 0.07% |
993,061
-7,700
| -0.8% | -$354K |
|
317
Quest Diagnostics
DGX
$26.2B
| $41.6M | 0.07% |
452,530
-2,100
| -0.5% | -$181K |
|
318
Verisk Analytics
VRSK
$23.6B
| $41.6M | 0.07% |
512,143
+25,800
| +5% | +$2.11M |
|
319
Cencora
COR
$62B
| $41.5M | 0.07% |
530,616
-238,865
| -31% | -$18.6M |
|
320
Agilent Technologies
A
$42B
| $41.4M | 0.07% |
908,547
| – | – |
|
|
QGENF
321
DELISTED
QIAGEN NV
QGENF
| $41.3M | 0.07% |
1,466,397
| – | – |
|
|
LLTC
322
DELISTED
Linear Technology Corp
LLTC
| $41.3M | 0.07% |
661,699
| – | – |
|
323
Autodesk
ADSK
$54.1B
| $41.2M | 0.06% |
556,199
-4,400
| -0.8% | -$324K |
|
324
Gen Digital
GEN
$17.5B
| $41.1M | 0.06% |
1,721,076
| – | – |
|
325
BCE
BCE
$21B
| $41M | 0.06% |
949,954
-3,300
| -0.3% | -$146K |
|
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.