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 |
Walt Disney
DIS
|
+$138M |
| 2 |
Alibaba
BABA
|
+$100M |
| 3 |
Microsoft
MSFT
|
+$72.8M |
| 4 |
Amazon
AMZN
|
+$65.7M |
| 5 |
Fox Class A
FOXA
|
+$46.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$165M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$68.3M |
| 3 |
Oracle
ORCL
|
+$43.1M |
| 4 |
PG&E
PCG
|
+$41.2M |
| 5 |
Qualcomm
QCOM
|
+$28.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.64% |
| 2 | Healthcare | 15.18% |
| 3 | Consumer Discretionary | 11.83% |
| 4 | Communication Services | 10.12% |
| 5 | Industrials | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Keysight
KEYS
$58.5B
| $54.6M | 0.06% |
625,600
+15,800
| +3% | +$1.23M |
|
|
PPLI
327
People Inc
PPLI
$3.03B
| $54.5M | 0.06% |
1,451,449
+43,085
| +3% | +$1.59M |
|
328
Restaurant Brands International
QSR
$25.4B
| $54.4M | 0.06% |
836,161
+13,000
| +2% | +$799K |
|
329
lululemon athletica
LULU
$14.3B
| $54.2M | 0.06% |
330,955
+8,300
| +3% | +$1.21M |
|
|
LLL
330
DELISTED
L3 Technologies, Inc.
LLL
| $54.2M | 0.06% |
262,678
+8,100
| +3% | +$1.6M |
|
331
Magna International
MGA
$19B
| $54.1M | 0.06% |
1,111,200
-13,900
| -1% | -$701K |
|
|
HES
332
DELISTED
Hess
HES
| $53.6M | 0.06% |
890,265
+13,400
| +2% | +$737K |
|
333
CBRE Group
CBRE
$42.5B
| $53.4M | 0.06% |
1,080,371
+30,200
| +3% | +$1.42M |
|
|
PARA
334
DELISTED
Paramount Global Class B
PARA
| $53.4M | 0.06% |
1,123,765
+23,000
| +2% | +$1.12M |
|
335
Veeva Systems
VEEV
$38.7B
| $53M | 0.06% |
417,800
+25,400
| +6% | +$2.86M |
|
336
BioMarin Pharmaceuticals
BMRN
$13.5B
| $52.8M | 0.06% |
594,300
+17,100
| +3% | +$1.58M |
|
337
Diamondback Energy
FANG
$56.4B
| $52.8M | 0.06% |
519,904
+13,200
| +3% | +$1.35M |
|
338
Healthpeak Properties
DOC
$14.2B
| $52.6M | 0.06% |
1,679,321
+42,700
| +3% | +$1.3M |
|
|
VAR
339
DELISTED
Varian Medical Systems, Inc.
VAR
| $52.4M | 0.06% |
370,048
+8,200
| +2% | +$1.08M |
|
340
Everest Group
EG
$14.1B
| $52.2M | 0.06% |
241,875
+14,700
| +6% | +$3.2M |
|
341
Vulcan Materials
VMC
$37.2B
| $52.2M | 0.06% |
440,842
+10,500
| +2% | +$1.13M |
|
|
TSS
342
DELISTED
Total System Services, Inc.
TSS
| $52.1M | 0.06% |
548,018
+14,000
| +3% | +$1.27M |
|
343
Incyte
INCY
$24.4B
| $51.9M | 0.06% |
603,600
+15,800
| +3% | +$1.29M |
|
344
CenterPoint Energy
CNP
$26.3B
| $51.4M | 0.06% |
1,672,922
+73,200
| +5% | +$2.21M |
|
345
Alexandria Real Estate Equities
ARE
$8.33B
| $51.2M | 0.06% |
358,800
+15,000
| +4% | +$1.97M |
|
|
ANSS
346
DELISTED
Ansys
ANSS
| $51M | 0.06% |
279,000
-64,500
| -19% | -$10.9M |
|
347
Camden Property Trust
CPT
$10.9B
| $50.1M | 0.06% |
493,600
+13,800
| +3% | +$1.33M |
|
348
Cheniere Energy
LNG
$55B
| $49.8M | 0.05% |
728,800
+42,500
| +6% | +$2.79M |
|
|
VMW
349
DELISTED
VMware, Inc
VMW
| $49.7M | 0.05% |
275,061
+13,900
| +5% | +$2.26M |
|
350
ResMed
RMD
$32B
| $49.5M | 0.05% |
475,700
+11,500
| +2% | +$1.19M |
|
Similar funds
Swiss National Bank's Q1 2019 Portfolio in Review
As of Q1 2019, Swiss National Bank held 2,549 positions worth $91.2B, up 17% from $78B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 2.2%. Swiss National Bank opened 13 new positions and exited 42, leaving the 2,549-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q1 2019 buy was Fox Class A: 1,197,967 shares worth $44M.
- Swiss National Bank added most to Walt Disney in Q1 2019, an estimated $138M increase.
- Swiss National Bank's biggest Q1 2019 reduction was Oracle, cutting an estimated $43.1M.
- Swiss National Bank fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $165M.
- Swiss National Bank's ten largest holdings make up 18% of its $91.2B portfolio in Q1 2019.
- Swiss National Bank opened 13 new positions and closed 42 in Q1 2019.
- Swiss National Bank's portfolio value rose 17% quarter-over-quarter to $91.2B.
Based on Swiss National Bank's 13F filing for Q1 2019, filed 10 May 2019.