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 | |
|---|---|---|---|---|---|---|
401
Martin Marietta Materials
MLM
$33B
| $42.1M | 0.05% |
209,050
+4,400
| +2% | +$821K |
|
402
Lincoln National
LNC
$8.61B
| $41.9M | 0.05% |
713,664
+9,000
| +1% | +$533K |
|
403
Thomson Reuters
TRI
$45.4B
| $41.9M | 0.05% |
671,278
| – | – |
|
404
Advance Auto Parts
AAP
$3.25B
| $41.5M | 0.05% |
243,418
+2,700
| +1% | +$436K |
|
405
Marvell Technology
MRVL
$187B
| $41.5M | 0.05% |
2,085,806
+65,500
| +3% | +$1.22M |
|
406
International Flavors & Fragrances
IFF
$21.7B
| $41.4M | 0.05% |
321,788
+8,300
| +3% | +$1.1M |
|
407
Henry Schein
HSIC
$9.97B
| $41.4M | 0.05% |
688,818
-169,280
| -20% | -$10.2M |
|
408
Liberty Global Class C
LBTYK
$3.42B
| $41.4M | 0.05% |
1,709,956
+5,000
| +0.3% | +$118K |
|
409
Teck Resources
TECK
$32.4B
| $41.4M | 0.05% |
1,787,779
+19,700
| +1% | +$444K |
|
410
TransUnion
TRU
$15.5B
| $41.3M | 0.05% |
618,100
+17,300
| +3% | +$1.07M |
|
411
Regency Centers
REG
$13.9B
| $41.2M | 0.05% |
609,879
+15,600
| +3% | +$996K |
|
412
NRG Energy
NRG
$25.3B
| $41.1M | 0.05% |
967,800
-18,600
| -2% | -$770K |
|
|
ABMD
413
DELISTED
Abiomed Inc
ABMD
| $40.8M | 0.04% |
142,700
+4,000
| +3% | +$1.33M |
|
414
CarMax
KMX
$8.31B
| $40.7M | 0.04% |
583,100
+9,000
| +2% | +$555K |
|
415
Fortinet
FTNT
$118B
| $40.5M | 0.04% |
2,414,500
+76,500
| +3% | +$1.22M |
|
416
Norwegian Cruise Line
NCLH
$8.55B
| $40.3M | 0.04% |
734,100
+22,300
| +3% | +$1.15M |
|
417
Atmos Energy
ATO
$28.6B
| $40.2M | 0.04% |
390,100
+28,400
| +8% | +$2.77M |
|
418
Masco
MAS
$14.9B
| $40.1M | 0.04% |
1,019,741
+19,900
| +2% | +$710K |
|
419
Aramark
ARMK
$15.9B
| $40M | 0.04% |
1,876,121
-530,594
| -22% | -$11.9M |
|
|
GRMN
420
Garmin
GRMN
$59.6B
| $39.9M | 0.04% |
462,148
+11,600
| +3% | +$873K |
|
421
AES
AES
$10.5B
| $39.9M | 0.04% |
2,206,908
+57,600
| +3% | +$969K |
|
422
Tractor Supply
TSCO
$18.4B
| $39.8M | 0.04% |
2,034,000
+55,500
| +3% | +$1.01M |
|
|
DRE
423
DELISTED
Duke Realty Corp.
DRE
| $39.7M | 0.04% |
1,298,789
+36,300
| +3% | +$1.06M |
|
|
NBL
424
DELISTED
Noble Energy, Inc.
NBL
| $39.6M | 0.04% |
1,600,581
+30,700
| +2% | +$695K |
|
|
KSU
425
DELISTED
Kansas City Southern
KSU
| $39.3M | 0.04% |
339,151
+7,200
| +2% | +$777K |
|
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.