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 |
Apple
AAPL
|
+$506M |
| 2 |
Microsoft
MSFT
|
+$355M |
| 3 |
ExxonMobil
XOM
|
+$267M |
| 4 |
Amazon
AMZN
|
+$257M |
| 5 |
Meta Platforms (Facebook)
META
|
+$245M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian National Railway
CNI
|
+$86.2M |
| 2 |
Suncor Energy
SU
|
+$80.1M |
| 3 |
SE
Spectra Energy Corp Wi
SE
|
+$79.6M |
| 4 |
STJ
St Jude Medical
STJ
|
+$63.5M |
| 5 |
TC Energy
TRP
|
+$59.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.61% |
| 2 | Healthcare | 15% |
| 3 | Consumer Discretionary | 10.63% |
| 4 | Communication Services | 10.48% |
| 5 | Industrials | 10.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
IBM
IBM
$224B
| $598M | 0.74% |
3,592,254
+715,778
| +25% | +$120M |
|
27
Altria Group
MO
$114B
| $535M | 0.67% |
7,486,394
+1,501,400
| +25% | +$109M |
|
28
Oracle
ORCL
$423B
| $497M | 0.62% |
11,137,928
+2,309,400
| +26% | +$96.2M |
|
29
McDonald's
MCD
$195B
| $474M | 0.59% |
3,653,548
+558,300
| +18% | +$70.1M |
|
30
Medtronic
MDT
$112B
| $440M | 0.55% |
5,459,663
+1,085,400
| +25% | +$84.8M |
|
31
Walmart Inc
WMT
$890B
| $438M | 0.54% |
18,217,287
+3,565,200
| +24% | +$82M |
|
32
Amgen
AMGN
$222B
| $432M | 0.54% |
2,636,008
+551,600
| +26% | +$91.7M |
|
33
Mastercard
MA
$493B
| $412M | 0.51% |
3,660,220
+722,600
| +25% | +$79.2M |
|
34
SLB Ltd
SLB
$75B
| $409M | 0.51% |
5,241,535
+1,075,000
| +26% | +$87.9M |
|
35
3M
MMM
$94.3B
| $408M | 0.51% |
2,549,040
+535,689
| +27% | +$82.2M |
|
36
AbbVie
ABBV
$435B
| $375M | 0.47% |
5,758,229
+1,222,400
| +27% | +$76.9M |
|
37
Boeing
BA
$185B
| $367M | 0.46% |
2,077,391
+418,500
| +25% | +$71.3M |
|
|
CELG
38
DELISTED
Celgene Corp
CELG
| $342M | 0.43% |
2,746,896
+588,000
| +27% | +$70.4M |
|
39
Eli Lilly
LLY
$1.06T
| $337M | 0.42% |
4,011,443
+781,800
| +24% | +$62.6M |
|
40
Starbucks
SBUX
$120B
| $332M | 0.41% |
5,681,144
+1,099,100
| +24% | +$62.2M |
|
41
Bristol-Myers Squibb
BMY
$132B
| $322M | 0.4% |
5,921,670
+1,267,900
| +27% | +$69.5M |
|
42
Honeywell
HON
$78B
| $320M | 0.4% |
2,839,970
+611,173
| +27% | +$67.5M |
|
|
AGN
43
DELISTED
Allergan plc
AGN
| $318M | 0.4% |
1,329,086
+226,200
| +21% | +$52.7M |
|
44
Gilead Sciences
GILD
$165B
| $317M | 0.39% |
4,668,124
+989,400
| +27% | +$69.6M |
|
45
Broadcom
AVGO
$2.04T
| $312M | 0.39% |
14,256,130
+3,239,000
| +29% | +$66.7M |
|
46
Booking.com
BKNG
$161B
| $311M | 0.39% |
4,371,300
+930,000
| +27% | +$61.4M |
|
47
RTX Corp
RTX
$301B
| $311M | 0.39% |
4,404,265
+885,550
| +25% | +$62.1M |
|
48
Union Pacific
UNP
$174B
| $309M | 0.38% |
2,920,172
+600,300
| +26% | +$64M |
|
49
Accenture
ACN
$108B
| $302M | 0.38% |
2,516,617
+479,100
| +24% | +$57.2M |
|
50
CVS Health
CVS
$122B
| $300M | 0.37% |
3,826,410
+811,100
| +27% | +$64.8M |
|
Similar funds
Swiss National Bank's Q1 2017 Portfolio in Review
As of Q1 2017, Swiss National Bank held 2,570 positions worth $80.4B, up 27% from $63.4B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Swiss National Bank deployed $13.1B of net new capital in Q1 2017, opening 6 new positions and adding to 1,330 existing holdings. Its largest new stake was Qiagen: 988,583 shares worth $30.5M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Canadian National Railway, an estimated $86.2M trimmed.
- Swiss National Bank's largest Q1 2017 buy was Qiagen: 988,583 shares worth $30.5M.
- Swiss National Bank added most to Apple in Q1 2017, an estimated $506M increase.
- Swiss National Bank's biggest Q1 2017 reduction was Canadian National Railway, cutting an estimated $86.2M.
- Swiss National Bank fully exited Spectra Energy Corp Wi in Q1 2017, selling an estimated $79.6M.
- Swiss National Bank's ten largest holdings make up 17% of its $80.4B portfolio in Q1 2017.
- Swiss National Bank opened 6 new positions and closed 36 in Q1 2017.
- Swiss National Bank's portfolio value rose 27% quarter-over-quarter to $80.4B.
Based on Swiss National Bank's 13F filing for Q1 2017, filed 4 May 2017.