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 |
Williams Companies
WMB
|
+$32.7M |
| 2 |
COL
Rockwell Collins
COL
|
+$23.5M |
| 3 |
CXO
CONCHO RESOURCES INC.
CXO
|
+$20.7M |
| 4 |
Prologis
PLD
|
+$16.2M |
| 5 |
BPYU
Brookfield Property REIT Inc. Class A Common Stock
BPYU
|
+$15.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$225M |
| 2 |
Keurig Dr Pepper
KDP
|
+$148M |
| 3 |
Microsoft
MSFT
|
+$96.8M |
| 4 |
Amazon
AMZN
|
+$82.8M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$53.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.08% |
| 2 | Healthcare | 15.47% |
| 3 | Consumer Discretionary | 11.72% |
| 4 | Industrials | 10.08% |
| 5 | Communication Services | 9.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
American Financial Group
AFG
$12B
| $26.8M | 0.03% |
241,400
-6,400
| -3% | -$712K |
|
527
NNN REIT
NNN
$8.71B
| $26.3M | 0.03% |
587,400
+79,400
| +16% | +$3.57M |
|
528
Kinross Gold
KGC
$32.3B
| $26.3M | 0.03% |
9,670,735
-1,393,800
| -13% | -$4.51M |
|
|
DISH
529
DELISTED
DISH Network Corp.
DISH
| $26.1M | 0.03% |
730,909
-23,100
| -3% | -$793K |
|
530
Fluor
FLR
$7.08B
| $26.1M | 0.03% |
448,822
-14,000
| -3% | -$763K |
|
531
Lennox International
LII
$14.9B
| $25.9M | 0.03% |
118,500
-4,100
| -3% | -$893K |
|
532
Telus
TU
$15.2B
| $25.5M | 0.03% |
1,373,600
-151,400
| -10% | -$2.77M |
|
533
Live Nation Entertainment
LYV
$42.7B
| $25.4M | 0.03% |
466,700
-12,200
| -3% | -$618K |
|
534
Alnylam Pharmaceuticals
ALNY
$29.6B
| $25.3M | 0.03% |
288,900
-7,700
| -3% | -$775K |
|
535
ON Semiconductor
ON
$31.6B
| $25.2M | 0.03% |
1,364,900
-47,600
| -3% | -$1.02M |
|
536
A.O. Smith
AOS
$8.65B
| $24.7M | 0.03% |
463,100
-19,300
| -4% | -$1.13M |
|
|
LSXMK
537
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $24.6M | 0.03% |
742,214
-34,793
| -4% | -$1.23M |
|
538
Whirlpool
WHR
$2.84B
| $24.5M | 0.03% |
206,165
-9,200
| -4% | -$1.22M |
|
539
Ralph Lauren
RL
$23.7B
| $24.5M | 0.03% |
177,774
-5,600
| -3% | -$746K |
|
540
Fortune Brands Innovations
FBIN
$5.97B
| $24.4M | 0.03% |
544,986
-42,588
| -7% | -$2M |
|
541
Ingredion
INGR
$6.6B
| $24.2M | 0.03% |
230,800
-6,900
| -3% | -$705K |
|
542
Autoliv
ALV
$8.96B
| $24.1M | 0.03% |
277,961
-121,312
| -30% | -$11.6M |
|
|
HDS
543
DELISTED
HD Supply Holdings, Inc.
HDS
| $24.1M | 0.03% |
562,700
-24,000
| -4% | -$1.05M |
|
544
Liberty Media Series C
FWONK
$25.7B
| $24.1M | 0.03% |
669,599
-19,961
| -3% | -$705K |
|
545
Harley-Davidson
HOG
$2.78B
| $24.1M | 0.03% |
531,396
-25,400
| -5% | -$1.1M |
|
546
Helmerich & Payne
HP
$4.25B
| $23.9M | 0.03% |
347,552
-11,800
| -3% | -$753K |
|
547
Pentair
PNR
$10.7B
| $23.4M | 0.03% |
540,957
-29,800
| -5% | -$1.29M |
|
548
OGE Energy
OGE
$9.57B
| $23.2M | 0.03% |
637,600
-23,200
| -4% | -$844K |
|
|
PE
549
DELISTED
PARSLEY ENERGY INC
PE
| $23M | 0.03% |
787,000
+1,600
| +0.2% | +$47.5K |
|
550
Middleby
MIDD
$5.43B
| $23M | 0.03% |
177,800
-7,200
| -4% | -$822K |
|
Similar funds
Swiss National Bank's Q3 2018 Portfolio in Review
As of Q3 2018, Swiss National Bank held 2,533 positions worth $89.8B, up 2.6% from $87.5B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Swiss National Bank withdrew a net $3.31B in Q3 2018, closing 29 positions and reducing 606 holdings. Its most notable exit was Keurig Dr Pepper, an estimated $148M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Brookfield Property REIT Inc. Class A Common Stock worth $15.9M.
- Swiss National Bank's largest Q3 2018 buy was Brookfield Property REIT Inc. Class A Common Stock: 760,360 shares worth $15.9M.
- Swiss National Bank added most to Williams Companies in Q3 2018, an estimated $32.7M increase.
- Swiss National Bank's biggest Q3 2018 reduction was Apple, cutting an estimated $225M.
- Swiss National Bank fully exited Keurig Dr Pepper in Q3 2018, selling an estimated $148M.
- Swiss National Bank's ten largest holdings make up 19% of its $89.8B portfolio in Q3 2018.
- Swiss National Bank opened 7 new positions and closed 29 in Q3 2018.
- Swiss National Bank's portfolio value rose 2.6% quarter-over-quarter to $89.8B.
Based on Swiss National Bank's 13F filing for Q3 2018, filed 8 Nov 2018.