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 |
DuPont de Nemours
DD
|
+$273M |
| 2 |
Baker Hughes
BKR
|
+$52.8M |
| 3 |
ExxonMobil
XOM
|
+$37.9M |
| 4 |
NVIDIA
NVDA
|
+$37.3M |
| 5 |
Oneok
OKE
|
+$34.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RAI
Reynolds American Inc
RAI
|
+$267M |
| 2 |
DD
Du Pont De Nemours E I
DD
|
+$265M |
| 3 |
BHI
Baker Hughes
BHI
|
+$80.5M |
| 4 |
Alibaba
BABA
|
+$51.2M |
| 5 |
WFM
Whole Foods Market Inc
WFM
|
+$48.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.43% |
| 2 | Healthcare | 15.4% |
| 3 | Consumer Discretionary | 10.77% |
| 4 | Communication Services | 10.69% |
| 5 | Industrials | 10.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
McDonald's
MCD
$195B
| $586M | 0.67% |
3,737,148
-11,000
| -0.3% | -$1.72M |
|
27
Walt Disney
DIS
$181B
| $570M | 0.65% |
5,783,128
+5,800
| +0.1% | +$597K |
|
28
Oracle
ORCL
$423B
| $561M | 0.64% |
11,606,728
+136,700
| +1% | +$6.8M |
|
29
Boeing
BA
$185B
| $539M | 0.61% |
2,121,291
-4,600
| -0.2% | -$1.07M |
|
30
Mastercard
MA
$493B
| $530M | 0.6% |
3,753,420
+21,300
| +0.6% | +$2.82M |
|
31
Altria Group
MO
$114B
| $525M | 0.6% |
8,271,794
+49,600
| +0.6% | +$3.31M |
|
32
AbbVie
ABBV
$435B
| $522M | 0.59% |
5,870,329
+46,500
| +0.8% | +$3.54M |
|
33
IBM
IBM
$224B
| $513M | 0.58% |
3,698,632
+1,046
| +0% | +$146K |
|
34
Amgen
AMGN
$222B
| $506M | 0.58% |
2,712,308
+21,400
| +0.8% | +$3.79M |
|
35
Walmart Inc
WMT
$890B
| $485M | 0.55% |
18,616,587
-11,100
| -0.1% | -$291K |
|
36
3M
MMM
$94.3B
| $475M | 0.54% |
2,704,041
+28,106
| +1% | +$4.87M |
|
37
Medtronic
MDT
$112B
| $434M | 0.49% |
5,578,963
+37,700
| +0.7% | +$3.13M |
|
|
CELG
38
DELISTED
Celgene Corp
CELG
| $420M | 0.48% |
2,878,596
+36,000
| +1% | +$4.9M |
|
|
39
Alibaba
BABA
$308B
| $396M | 0.45% |
2,293,120
-315,923
| -12% | -$51.2M |
|
|
40
NVIDIA
NVDA
$5.42T
| $392M | 0.45% |
87,739,400
+8,964,000
| +11% | +$37.3M |
|
41
Gilead Sciences
GILD
$165B
| $390M | 0.44% |
4,817,324
+41,800
| +0.9% | +$3.2M |
|
42
Bristol-Myers Squibb
BMY
$132B
| $388M | 0.44% |
6,091,470
-20,100
| -0.3% | -$1.17M |
|
43
SLB Ltd
SLB
$75B
| $379M | 0.43% |
5,438,635
+31,800
| +0.6% | +$2.1M |
|
44
Honeywell
HON
$78B
| $378M | 0.43% |
2,955,540
+30,775
| +1% | +$3.82M |
|
45
Abbott
ABT
$187B
| $364M | 0.41% |
6,824,888
+86,500
| +1% | +$4.34M |
|
46
Broadcom
AVGO
$2.04T
| $359M | 0.41% |
14,796,130
+144,000
| +1% | +$3.56M |
|
47
Eli Lilly
LLY
$1.06T
| $356M | 0.41% |
4,157,443
+36,000
| +0.9% | +$2.95M |
|
48
Accenture
ACN
$108B
| $352M | 0.4% |
2,609,117
+14,000
| +0.5% | +$1.82M |
|
49
Union Pacific
UNP
$174B
| $346M | 0.39% |
2,980,472
+7,200
| +0.2% | +$772K |
|
50
Booking.com
BKNG
$161B
| $331M | 0.38% |
4,526,300
+35,000
| +0.8% | +$2.66M |
|
Similar funds
Swiss National Bank's Q3 2017 Portfolio in Review
As of Q3 2017, Swiss National Bank held 2,565 positions worth $87.8B, up 4.2% from $84.3B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Trading was light in Q3 2017: portfolio turnover was 1.7%. Swiss National Bank opened 7 new positions and exited 37, leaving the 2,565-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 17% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2017 buy was Baker Hughes: 1,488,728 shares worth $54.5M.
- Swiss National Bank added most to DuPont de Nemours in Q3 2017, an estimated $273M increase.
- Swiss National Bank's biggest Q3 2017 reduction was Alibaba, cutting an estimated $51.2M.
- Swiss National Bank fully exited Reynolds American Inc in Q3 2017, selling an estimated $267M.
- Swiss National Bank's ten largest holdings make up 17% of its $87.8B portfolio in Q3 2017.
- Swiss National Bank opened 7 new positions and closed 37 in Q3 2017.
- Swiss National Bank's portfolio value rose 4.2% quarter-over-quarter to $87.8B.
Based on Swiss National Bank's 13F filing for Q3 2017, filed 3 Nov 2017.