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 |
Nutrien
NTR
|
+$117M |
| 2 |
WP
Worldpay, Inc.
WP
|
+$36.3M |
| 3 |
Becton Dickinson
BDX
|
+$30.5M |
| 4 |
Alibaba
BABA
|
+$29.1M |
| 5 |
NXP Semiconductors
NXPI
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$443M |
| 2 |
Microsoft
MSFT
|
+$315M |
| 3 |
Amazon
AMZN
|
+$275M |
| 4 |
Meta Platforms (Facebook)
META
|
+$191M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.01% |
| 2 | Healthcare | 14.49% |
| 3 | Consumer Discretionary | 11.53% |
| 4 | Industrials | 10.43% |
| 5 | Communication Services | 10.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
New Oriental
EDU
$8.5B
| $25.7M | 0.03% |
292,741
+20,500
| +8% | +$1.91M |
|
527
Fluor
FLR
$7B
| $25.6M | 0.03% |
447,122
-67,600
| -13% | -$3.88M |
|
528
Fortinet
FTNT
$120B
| $25.5M | 0.03% |
2,384,000
-369,500
| -13% | -$3.6M |
|
529
Tractor Supply
TSCO
$18.5B
| $25.5M | 0.03% |
2,022,000
-328,000
| -14% | -$4.57M |
|
|
ZAYO
530
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $25.3M | 0.03% |
741,300
-70,300
| -9% | -$2.53M |
|
531
Jones Lang LaSalle
JLL
$16.7B
| $25.3M | 0.03% |
144,900
-22,200
| -13% | -$3.57M |
|
|
CDK
532
DELISTED
CDK Global, Inc.
CDK
| $25.2M | 0.03% |
397,100
-69,200
| -15% | -$4.85M |
|
533
Pultegroup
PHM
$24.5B
| $25M | 0.03% |
848,800
-155,900
| -16% | -$4.84M |
|
534
Lennox International
LII
$14.7B
| $24.8M | 0.03% |
121,200
-18,900
| -13% | -$3.93M |
|
|
SEE
535
DELISTED
Sealed Air
SEE
| $24.8M | 0.03% |
578,723
-126,400
| -18% | -$5.71M |
|
|
VISN
536
Vistance Networks Inc
VISN
$2.69B
| $24.6M | 0.03% |
615,800
-97,600
| -14% | -$3.81M |
|
537
UGI
UGI
$7.47B
| $24.6M | 0.03% |
554,100
-83,600
| -13% | -$3.75M |
|
538
ManpowerGroup
MAN
$2.56B
| $24.5M | 0.03% |
213,164
-34,600
| -14% | -$4.27M |
|
539
TAL Education Group
TAL
$6.62B
| $24.4M | 0.03% |
659,048
+88,902
| +16% | +$3.05M |
|
540
Jacobs Solutions
J
$16.9B
| $24.1M | 0.03% |
492,465
-42,677
| -8% | -$2.26M |
|
541
AES
AES
$10.5B
| $24M | 0.03% |
2,110,608
-320,800
| -13% | -$3.49M |
|
542
BCE
BCE
$21.5B
| $23.9M | 0.03% |
556,254
-35,000
| -6% | -$1.57M |
|
|
GAP
543
The Gap Inc
GAP
$7.33B
| $23.4M | 0.03% |
751,031
-117,100
| -13% | -$3.83M |
|
|
FDC
544
DELISTED
First Data Corporation
FDC
| $23.4M | 0.03% |
1,464,200
-163,800
| -10% | -$2.71M |
|
|
LSXMK
545
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $23.4M | 0.03% |
750,486
-112,913
| -13% | -$3.59M |
|
546
Robert Half
RHI
$4.19B
| $23.3M | 0.03% |
402,838
-64,400
| -14% | -$3.68M |
|
547
Harley-Davidson
HOG
$2.7B
| $23.2M | 0.03% |
539,996
-93,200
| -15% | -$4.46M |
|
548
Gildan
GIL
$10.7B
| $23.1M | 0.03% |
801,100
-64,800
| -7% | -$2M |
|
549
Helmerich & Payne
HP
$4.24B
| $23.1M | 0.03% |
347,152
-51,200
| -13% | -$3.45M |
|
|
GRMN
550
Garmin
GRMN
$59.6B
| $23M | 0.03% |
389,948
-63,900
| -14% | -$3.91M |
|
Similar funds
Swiss National Bank's Q1 2018 Portfolio in Review
As of Q1 2018, Swiss National Bank held 2,520 positions worth $82B, down 11% from $92.6B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Swiss National Bank withdrew a net $9.58B in Q1 2018, closing 36 positions and reducing 634 holdings. Its most notable exit was Potash Corp Of Saskatchewan, an estimated $66.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Nutrien worth $111M.
- Swiss National Bank's largest Q1 2018 buy was Nutrien: 2,341,052 shares worth $111M.
- Swiss National Bank added most to Worldpay, Inc. in Q1 2018, an estimated $36.3M increase.
- Swiss National Bank's biggest Q1 2018 reduction was Apple, cutting an estimated $443M.
- Swiss National Bank fully exited Potash Corp Of Saskatchewan in Q1 2018, selling an estimated $66.5M.
- Swiss National Bank's ten largest holdings make up 17% of its $82B portfolio in Q1 2018.
- Swiss National Bank opened 6 new positions and closed 36 in Q1 2018.
- Swiss National Bank's portfolio value fell 11% quarter-over-quarter to $82B.
Based on Swiss National Bank's 13F filing for Q1 2018, filed 4 May 2018.