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 |
Alphabet (Google) Class A
GOOGL
|
+$406M |
| 2 |
NXP Semiconductors
NXPI
|
+$76.1M |
| 3 |
Alibaba
BABA
|
+$71.1M |
| 4 |
Hewlett Packard
HPE
|
+$47.6M |
| 5 |
Baidu
BIDU
|
+$45M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$392M |
| 2 |
Lockheed Martin
LMT
|
+$114M |
| 3 |
HP
HPQ
|
+$51.3M |
| 4 |
SIAL
SIGMA - ALDRICH CORP
SIAL
|
+$50M |
| 5 |
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
|
+$40.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 15.85% |
| 2 | Technology | 14.56% |
| 3 | Consumer Discretionary | 10.65% |
| 4 | Consumer Staples | 10.14% |
| 5 | Industrials | 10.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Comcast
CMCSA
$90B
| $254M | 0.62% |
9,015,600
+1,438,832
| +19% | +$43.3M |
|
27
Cisco
CSCO
$479B
| $251M | 0.61% |
9,243,893
+168,100
| +2% | +$4.64M |
|
28
UnitedHealth
UNH
$370B
| $243M | 0.59% |
2,063,327
+34,700
| +2% | +$4.06M |
|
29
Bristol-Myers Squibb
BMY
$132B
| $240M | 0.58% |
3,492,052
+59,900
| +2% | +$3.96M |
|
30
Altria Group
MO
$114B
| $240M | 0.58% |
4,120,094
+54,800
| +1% | +$3.18M |
|
31
Oracle
ORCL
$423B
| $230M | 0.56% |
6,304,928
+70,500
| +1% | +$2.69M |
|
|
AGN
32
DELISTED
Allergan plc
AGN
| $227M | 0.55% |
727,836
+12,700
| +2% | +$3.78M |
|
33
Amgen
AMGN
$222B
| $224M | 0.54% |
1,378,008
+15,900
| +1% | +$2.5M |
|
34
CVS Health
CVS
$122B
| $208M | 0.5% |
2,124,110
+12,400
| +0.6% | +$1.21M |
|
35
Walmart Inc
WMT
$890B
| $203M | 0.49% |
9,947,487
-1,082,700
| -10% | -$21.7M |
|
36
Medtronic
MDT
$112B
| $202M | 0.49% |
2,620,463
+30,900
| +1% | +$2.33M |
|
37
Canadian National Railway
CNI
$76.6B
| $196M | 0.47% |
3,517,100
-35,400
| -1% | -$2.07M |
|
38
Eli Lilly
LLY
$1.06T
| $193M | 0.47% |
2,288,443
+26,100
| +1% | +$2.17M |
|
39
Starbucks
SBUX
$120B
| $188M | 0.46% |
3,139,144
-47,300
| -1% | -$2.88M |
|
40
Mastercard
MA
$493B
| $183M | 0.44% |
1,881,720
+21,100
| +1% | +$2.07M |
|
41
AbbVie
ABBV
$435B
| $178M | 0.43% |
3,007,329
-62,200
| -2% | -$3.58M |
|
|
CELG
42
DELISTED
Celgene Corp
CELG
| $172M | 0.42% |
1,435,996
+20,700
| +1% | +$2.39M |
|
43
SLB Ltd
SLB
$75B
| $172M | 0.42% |
2,462,975
+194,200
| +9% | +$14.5M |
|
44
3M
MMM
$94.3B
| $171M | 0.41% |
1,356,628
+2,871
| +0.2% | +$369K |
|
45
Boeing
BA
$185B
| $170M | 0.41% |
1,172,691
-71,600
| -6% | -$10.3M |
|
46
Suncor Energy
SU
$70.3B
| $164M | 0.4% |
6,368,264
-36,200
| -0.6% | -$999K |
|
47
Kimberly-Clark
KMB
$36.5B
| $161M | 0.39% |
1,262,428
-12,900
| -1% | -$1.55M |
|
48
Southern Company
SO
$107B
| $161M | 0.39% |
3,433,624
+35,100
| +1% | +$1.59M |
|
49
General Mills
GIS
$19.7B
| $157M | 0.38% |
2,724,116
-33,900
| -1% | -$1.95M |
|
50
Simon Property Group
SPG
$72.3B
| $157M | 0.38% |
807,598
+7,500
| +0.9% | +$1.45M |
|
Similar funds
Swiss National Bank's Q4 2015 Portfolio in Review
As of Q4 2015, Swiss National Bank held 2,738 positions worth $41.3B, up 6.1% from $39B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Swiss National Bank's Q4 2015 filing shows 170 new, 721 increased, 248 reduced and 95 closed positions. Its largest new stake was Alphabet (Google) Class A: 10,961,780 shares worth $426M. The largest sale was Alphabet (Google) Class C, an estimated $392M.
By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 16% a quarter earlier, followed by Technology and Consumer Discretionary.
- Swiss National Bank's largest Q4 2015 buy was Alphabet (Google) Class A: 10,961,780 shares worth $426M.
- Swiss National Bank added most to Comcast in Q4 2015, an estimated $43.3M increase.
- Swiss National Bank's biggest Q4 2015 reduction was Alphabet (Google) Class C, cutting an estimated $392M.
- Swiss National Bank fully exited Lockheed Martin in Q4 2015, selling an estimated $114M.
- Swiss National Bank's ten largest holdings make up 14% of its $41.3B portfolio in Q4 2015.
- Swiss National Bank opened 170 new positions and closed 95 in Q4 2015.
- Swiss National Bank's portfolio value rose 6.1% quarter-over-quarter to $41.3B.
Based on Swiss National Bank's 13F filing for Q4 2015, filed 3 Feb 2016.