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 |
Nutrien
NTR
|
+$117M |
| 2 |
WP
Worldpay, Inc.
WP
|
+$36.3M |
| 3 |
Becton Dickinson
BDX
|
+$30.5M |
| 4 |
Alibaba
BABA
|
+$29.1M |
| 5 |
NXP Semiconductors
NXPI
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$443M |
| 2 |
Microsoft
MSFT
|
+$315M |
| 3 |
Amazon
AMZN
|
+$275M |
| 4 |
Meta Platforms (Facebook)
META
|
+$191M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.01% |
| 2 | Healthcare | 14.49% |
| 3 | Consumer Discretionary | 11.53% |
| 4 | Industrials | 10.43% |
| 5 | Communication Services | 10.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Mettler-Toledo International
MTD
$28.9B
| $47.2M | 0.06% |
82,000
-12,800
| -14% | -$8.05M |
|
352
Mohawk Industries
MHK
$9.26B
| $47.1M | 0.06% |
202,774
-30,300
| -13% | -$7.81M |
|
353
United Rentals
URI
$71.6B
| $46.9M | 0.06% |
271,300
-40,500
| -13% | -$7.19M |
|
354
APA Corp
APA
$14.3B
| $46.9M | 0.06% |
1,217,732
-185,600
| -13% | -$7.47M |
|
355
Restaurant Brands International
QSR
$25.6B
| $46.5M | 0.06% |
818,361
-45,600
| -5% | -$2.71M |
|
|
HES
356
DELISTED
Hess
HES
| $46.3M | 0.06% |
914,365
-140,800
| -13% | -$6.9M |
|
357
CBRE Group
CBRE
$42.7B
| $46.3M | 0.06% |
980,171
-139,800
| -12% | -$6.37M |
|
358
Henry Schein
HSIC
$9.97B
| $46.2M | 0.06% |
877,350
-73,823
| -8% | -$4.09M |
|
|
TSS
359
DELISTED
Total System Services, Inc.
TSS
| $45.7M | 0.06% |
529,818
-81,100
| -13% | -$6.97M |
|
360
BioMarin Pharmaceuticals
BMRN
$13.5B
| $45.7M | 0.06% |
563,500
-82,600
| -13% | -$7.09M |
|
361
Molson Coors Class B
TAP
$7.84B
| $45.7M | 0.06% |
606,228
-90,300
| -13% | -$7.22M |
|
362
Loews
L
$23.2B
| $45.7M | 0.06% |
918,019
-136,100
| -13% | -$6.88M |
|
363
Entergy
ETR
$49.7B
| $45.6M | 0.06% |
1,156,644
-167,200
| -13% | -$6.46M |
|
|
XL
364
DELISTED
XL Group Ltd.
XL
| $45.5M | 0.06% |
823,441
-132,300
| -14% | -$5.81M |
|
|
VMW
365
DELISTED
VMware, Inc
VMW
| $45.4M | 0.06% |
374,061
-17,600
| -4% | -$2.22M |
|
366
Equifax
EFX
$21.4B
| $45.3M | 0.06% |
384,645
-58,600
| -13% | -$7.04M |
|
367
Cencora
COR
$63.4B
| $45.2M | 0.06% |
524,816
-79,300
| -13% | -$7.62M |
|
|
NBL
368
DELISTED
Noble Energy, Inc.
NBL
| $44.9M | 0.05% |
1,483,081
-222,900
| -13% | -$6.71M |
|
|
CTXS
369
DELISTED
Citrix Systems Inc
CTXS
| $44.9M | 0.05% |
483,816
-75,400
| -13% | -$6.93M |
|
370
NOV
NOV
$7.45B
| $44.9M | 0.05% |
1,219,347
-179,700
| -13% | -$6.59M |
|
371
ResMed
RMD
$32.7B
| $44.7M | 0.05% |
454,400
-68,000
| -13% | -$6.43M |
|
372
Mid-America Apartment Communities
MAA
$15.3B
| $44.7M | 0.05% |
490,276
-40,200
| -8% | -$3.64M |
|
373
Expedia Group
EXPE
$38.6B
| $44.5M | 0.05% |
403,370
-57,300
| -12% | -$6.67M |
|
374
Xylem
XYL
$28.7B
| $44.3M | 0.05% |
576,222
-85,700
| -13% | -$6.34M |
|
375
Host Hotels & Resorts
HST
$15.3B
| $44.3M | 0.05% |
2,374,469
-354,100
| -13% | -$6.92M |
|
Similar funds
Swiss National Bank's Q1 2018 Portfolio in Review
As of Q1 2018, Swiss National Bank held 2,520 positions worth $82B, down 11% from $92.6B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Swiss National Bank withdrew a net $9.58B in Q1 2018, closing 36 positions and reducing 634 holdings. Its most notable exit was Potash Corp Of Saskatchewan, an estimated $66.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Nutrien worth $111M.
- Swiss National Bank's largest Q1 2018 buy was Nutrien: 2,341,052 shares worth $111M.
- Swiss National Bank added most to Worldpay, Inc. in Q1 2018, an estimated $36.3M increase.
- Swiss National Bank's biggest Q1 2018 reduction was Apple, cutting an estimated $443M.
- Swiss National Bank fully exited Potash Corp Of Saskatchewan in Q1 2018, selling an estimated $66.5M.
- Swiss National Bank's ten largest holdings make up 17% of its $82B portfolio in Q1 2018.
- Swiss National Bank opened 6 new positions and closed 36 in Q1 2018.
- Swiss National Bank's portfolio value fell 11% quarter-over-quarter to $82B.
Based on Swiss National Bank's 13F filing for Q1 2018, filed 4 May 2018.