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 | |
|---|---|---|---|---|---|---|
551
Jazz Pharmaceuticals
JAZZ
$16.1B
| $18.3M | 0.03% |
167,400
| – | – |
|
552
Leggett & Platt
LEG
$1.3B
| $18.2M | 0.03% |
372,636
| – | – |
|
|
SRCL
553
DELISTED
Stericycle Inc
SRCL
| $18.1M | 0.03% |
235,000
| – | – |
|
554
NNN REIT
NNN
$8.75B
| $18.1M | 0.03% |
409,100
+176,025
| +76% | +$7.77M |
|
555
W.R. Berkley
WRB
$26.2B
| $18M | 0.03% |
915,800
| – | – |
|
556
Arrow Electronics
ARW
$10.5B
| $18M | 0.03% |
253,048
| – | – |
|
|
TRQ
557
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $18M | 0.03% |
561,280
-4,480
| -0.8% | -$144K |
|
|
BBBY
558
DELISTED
Bed Bath & Beyond Inc
BBBY
| $17.7M | 0.03% |
436,390
| – | – |
|
559
Robert Half
RHI
$4.32B
| $17.7M | 0.03% |
363,238
| – | – |
|
560
American Airlines Group
AAL
$10.2B
| $17.7M | 0.03% |
378,700
-25,500
| -6% | -$1.11M |
|
|
MIC
561
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
| $17.6M | 0.03% |
215,400
+92,835
| +76% | +$7.61M |
|
562
United Therapeutics
UTHR
$22.3B
| $17.4M | 0.03% |
121,400
-2,700
| -2% | -$345K |
|
563
Avery Dennison
AVY
$13.6B
| $17.3M | 0.03% |
246,856
| – | – |
|
564
Flowserve
FLS
$10.2B
| $17.3M | 0.03% |
360,522
| – | – |
|
565
Mercado Libre
MELI
$98.1B
| $17.3M | 0.03% |
110,500
+57,045
| +107% | +$9.42M |
|
|
JWN
566
DELISTED
Nordstrom
JWN
| $17.2M | 0.03% |
359,825
-114,000
| -24% | -$6.19M |
|
567
Pediatrix Medical
MD
$2.13B
| $17.2M | 0.03% |
257,800
| – | – |
|
568
Range Resources
RRC
$9.48B
| $17.2M | 0.03% |
500,004
| – | – |
|
569
CoStar Group
CSGP
$12.7B
| $17.1M | 0.03% |
906,000
+378,910
| +72% | +$7.44M |
|
570
ManpowerGroup
MAN
$2.6B
| $17.1M | 0.03% |
191,964
-6,400
| -3% | -$528K |
|
|
DISCK
571
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $17M | 0.03% |
636,174
-21,700
| -3% | -$572K |
|
572
Yum China
YUMC
$16.3B
| $17M | 0.03% |
+651,997
| New | +$17.7M |
|
573
Avnet
AVT
$7.92B
| $17M | 0.03% |
357,432
| – | – |
|
|
BEAV
574
DELISTED
B/E Aerospace Inc
BEAV
| $17M | 0.03% |
282,600
| – | – |
|
575
Marvell Technology
MRVL
$188B
| $16.9M | 0.03% |
1,217,172
| – | – |
|
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.