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 |
Williams Companies
WMB
|
+$32.7M |
| 2 |
COL
Rockwell Collins
COL
|
+$23.5M |
| 3 |
CXO
CONCHO RESOURCES INC.
CXO
|
+$20.7M |
| 4 |
Prologis
PLD
|
+$16.2M |
| 5 |
BPYU
Brookfield Property REIT Inc. Class A Common Stock
BPYU
|
+$15.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$225M |
| 2 |
Keurig Dr Pepper
KDP
|
+$148M |
| 3 |
Microsoft
MSFT
|
+$96.8M |
| 4 |
Amazon
AMZN
|
+$82.8M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$53.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.08% |
| 2 | Healthcare | 15.47% |
| 3 | Consumer Discretionary | 11.72% |
| 4 | Industrials | 10.08% |
| 5 | Communication Services | 9.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Camden Property Trust
CPT
$11B
| $44.7M | 0.05% |
477,800
-16,100
| -3% | -$1.5M |
|
377
Vail Resorts
MTN
$5.3B
| $44.6M | 0.05% |
162,400
-5,600
| -3% | -$1.61M |
|
378
Hasbro
HAS
$13.7B
| $44.4M | 0.05% |
422,046
+32,300
| +8% | +$3.24M |
|
379
Arista Networks
ANET
$247B
| $44.2M | 0.05% |
2,660,800
-73,600
| -3% | -$1.25M |
|
|
CA
380
DELISTED
CA, Inc.
CA
| $44M | 0.05% |
997,422
-36,400
| -4% | -$1.57M |
|
381
Ovintiv
OVV
$17.7B
| $44M | 0.05% |
674,220
-33,060
| -5% | -$2.14M |
|
382
XPO
XPO
$23.5B
| $44M | 0.05% |
1,113,476
-32,383
| -3% | -$1.18M |
|
|
WRK
383
DELISTED
WestRock Company
WRK
| $43.8M | 0.05% |
818,804
-23,500
| -3% | -$1.32M |
|
384
TechnipFMC
FTI
$29.4B
| $43.8M | 0.05% |
1,881,874
-91,795
| -5% | -$2.08M |
|
385
Dover
DOV
$28.2B
| $43.7M | 0.05% |
493,917
-16,900
| -3% | -$1.39M |
|
386
United Rentals
URI
$71.4B
| $43.6M | 0.05% |
266,800
-13,000
| -5% | -$2.02M |
|
387
Eastman Chemical
EMN
$8.55B
| $43.6M | 0.05% |
455,738
-17,100
| -4% | -$1.7M |
|
388
Loews
L
$23.2B
| $43.5M | 0.05% |
866,419
-59,500
| -6% | -$2.98M |
|
389
Arthur J. Gallagher & Co
AJG
$65.6B
| $43.3M | 0.05% |
581,885
-16,300
| -3% | -$1.17M |
|
390
TransUnion
TRU
$15.4B
| $43.2M | 0.05% |
587,400
-18,900
| -3% | -$1.41M |
|
391
CDW
CDW
$16.8B
| $43.1M | 0.05% |
484,500
-21,900
| -4% | -$1.89M |
|
392
CenterPoint Energy
CNP
$26.3B
| $43M | 0.05% |
1,553,422
+198,600
| +15% | +$5.56M |
|
393
Lennar Class A
LEN
$21B
| $42.9M | 0.05% |
949,625
-25,928
| -3% | -$1.31M |
|
394
GoDaddy
GDDY
$11.6B
| $42.8M | 0.05% |
513,500
+21,400
| +4% | +$1.67M |
|
395
Teck Resources
TECK
$32.7B
| $42.8M | 0.05% |
1,782,679
-82,900
| -4% | -$1.99M |
|
396
Universal Health Services
UHS
$9.99B
| $42.8M | 0.05% |
334,400
-5,900
| -2% | -$724K |
|
397
Diamondback Energy
FANG
$56.7B
| $42.6M | 0.05% |
314,800
-9,700
| -3% | -$1.24M |
|
|
ATH
398
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $42.5M | 0.05% |
823,400
-24,500
| -3% | -$1.18M |
|
399
CarMax
KMX
$8.32B
| $42.4M | 0.05% |
568,400
-29,700
| -5% | -$2.27M |
|
400
Healthpeak Properties
DOC
$14.3B
| $42.4M | 0.05% |
1,610,021
+57,900
| +4% | +$1.52M |
|
Similar funds
Swiss National Bank's Q3 2018 Portfolio in Review
As of Q3 2018, Swiss National Bank held 2,533 positions worth $89.8B, up 2.6% from $87.5B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Swiss National Bank withdrew a net $3.31B in Q3 2018, closing 29 positions and reducing 606 holdings. Its most notable exit was Keurig Dr Pepper, an estimated $148M position sold in full.
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.
Against the trend, Swiss National Bank opened a new position in Brookfield Property REIT Inc. Class A Common Stock worth $15.9M.
- Swiss National Bank's largest Q3 2018 buy was Brookfield Property REIT Inc. Class A Common Stock: 760,360 shares worth $15.9M.
- Swiss National Bank added most to Williams Companies in Q3 2018, an estimated $32.7M increase.
- Swiss National Bank's biggest Q3 2018 reduction was Apple, cutting an estimated $225M.
- Swiss National Bank fully exited Keurig Dr Pepper in Q3 2018, selling an estimated $148M.
- Swiss National Bank's ten largest holdings make up 19% of its $89.8B portfolio in Q3 2018.
- Swiss National Bank opened 7 new positions and closed 29 in Q3 2018.
- Swiss National Bank's portfolio value rose 2.6% quarter-over-quarter to $89.8B.
Based on Swiss National Bank's 13F filing for Q3 2018, filed 8 Nov 2018.