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 |
Teva Pharmaceuticals
TEVA
|
+$145M |
| 2 |
Fortis
FTS
|
+$68.9M |
| 3 |
Intuitive Surgical
ISRG
|
+$47.9M |
| 4 |
Keurig Dr Pepper
KDP
|
+$39.6M |
| 5 |
Medtronic
MDT
|
+$34.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LNKD
LinkedIn Corporation
LNKD
|
+$63.4M |
| 2 |
Hershey
HSY
|
+$51.3M |
| 3 |
American Tower
AMT
|
+$50.3M |
| 4 |
Alcoa
AA
|
+$34.6M |
| 5 |
LLL
L3 Technologies, Inc.
LLL
|
+$32.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.54% |
| 2 | Healthcare | 14.34% |
| 3 | Industrials | 10.58% |
| 4 | Consumer Discretionary | 10.4% |
| 5 | Communication Services | 10.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NFX
501
DELISTED
Newfield Exploration
NFX
| $22.2M | 0.04% |
548,900
| – | – |
|
502
Packaging Corp of America
PKG
$22.9B
| $22.1M | 0.03% |
260,400
| – | – |
|
503
SiriusXM
SIRI
$9.63B
| $22M | 0.03% |
494,486
-57,920
| -10% | -$2.52M |
|
504
Liberty Broadband Class C
LBRDK
$5.26B
| $22M | 0.03% |
297,000
| – | – |
|
505
UGI
UGI
$7.42B
| $22M | 0.03% |
477,300
| – | – |
|
506
Methanex
MEOH
$4.29B
| $22M | 0.03% |
500,900
-3,900
| -0.8% | -$156K |
|
507
Liberty Global Class A
LBTYA
$3.5B
| $21.9M | 0.03% |
717,378
-70,700
| -9% | -$2.23M |
|
|
HAR
508
DELISTED
Harman International Industries
HAR
| $21.7M | 0.03% |
195,600
| – | – |
|
509
Lennar Class A
LEN
$21.1B
| $21.7M | 0.03% |
530,533
| – | – |
|
510
Workday
WDAY
$45B
| $21.6M | 0.03% |
327,400
| – | – |
|
511
Flex
FLEX
$45B
| $21.6M | 0.03% |
1,997,903
| – | – |
|
512
Southwest Airlines
LUV
$22.3B
| $21.5M | 0.03% |
431,812
-9,900
| -2% | -$444K |
|
513
CDW
CDW
$16.8B
| $21.5M | 0.03% |
412,900
| – | – |
|
514
Domino's
DPZ
$11.8B
| $21.5M | 0.03% |
134,900
-4,000
| -3% | -$650K |
|
|
CDK
515
DELISTED
CDK Global, Inc.
CDK
| $21.2M | 0.03% |
355,800
-9,500
| -3% | -$543K |
|
516
AES
AES
$10.5B
| $21.2M | 0.03% |
1,823,708
| – | – |
|
517
Atmos Energy
ATO
$28.5B
| $21M | 0.03% |
282,700
| – | – |
|
518
CAE Inc. Common Shares
CAE
$8.75B
| $21M | 0.03% |
1,499,900
-14,200
| -0.9% | -$203K |
|
519
Trimble
TRMB
$13.6B
| $20.9M | 0.03% |
694,400
| – | – |
|
520
FMC
FMC
$1.3B
| $20.9M | 0.03% |
426,652
| – | – |
|
521
Wabtec
WAB
$49.9B
| $20.8M | 0.03% |
250,500
| – | – |
|
522
Xerox
XRX
$424M
| $20.8M | 0.03% |
903,991
| – | – |
|
523
Middleby
MIDD
$5.59B
| $20.6M | 0.03% |
159,900
+67,073
| +72% | +$8.44M |
|
524
Brixmor Property Group
BRX
$9.11B
| $20.6M | 0.03% |
842,650
| – | – |
|
525
Capri Holdings
CPRI
$1.77B
| $20.4M | 0.03% |
474,400
-16,400
| -3% | -$779K |
|
Similar funds
Swiss National Bank's Q4 2016 Portfolio in Review
As of Q4 2016, Swiss National Bank held 2,615 positions worth $63.4B, up 1.6% from $62.4B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Trading was light in Q4 2016: portfolio turnover was 5%. Swiss National Bank opened 79 new positions and exited 51, leaving the 2,615-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 16% a quarter earlier, followed by Healthcare and Industrials.
- Swiss National Bank's largest Q4 2016 buy was Teva Pharmaceuticals: 3,630,251 shares worth $132M.
- Swiss National Bank added most to Intuitive Surgical in Q4 2016, an estimated $47.9M increase.
- Swiss National Bank's biggest Q4 2016 reduction was Hershey, cutting an estimated $51.3M.
- Swiss National Bank fully exited LinkedIn Corporation in Q4 2016, selling an estimated $63.4M.
- Swiss National Bank's ten largest holdings make up 15% of its $63.4B portfolio in Q4 2016.
- Swiss National Bank opened 79 new positions and closed 51 in Q4 2016.
- Swiss National Bank's portfolio value rose 1.6% quarter-over-quarter to $63.4B.
Based on Swiss National Bank's 13F filing for Q4 2016, filed 8 Feb 2017.