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 |
Walt Disney
DIS
|
+$138M |
| 2 |
Alibaba
BABA
|
+$100M |
| 3 |
Microsoft
MSFT
|
+$72.8M |
| 4 |
Amazon
AMZN
|
+$65.7M |
| 5 |
Fox Class A
FOXA
|
+$46.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$165M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$68.3M |
| 3 |
Oracle
ORCL
|
+$43.1M |
| 4 |
PG&E
PCG
|
+$41.2M |
| 5 |
Qualcomm
QCOM
|
+$28.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.64% |
| 2 | Healthcare | 15.18% |
| 3 | Consumer Discretionary | 11.83% |
| 4 | Communication Services | 10.12% |
| 5 | Industrials | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
776
BWX Technologies
BWXT
$15.6B
| $8.92M | 0.01% |
180,000
+3,700
| +2% | +$175K |
|
777
Ashland
ASH
$3.41B
| $8.9M | 0.01% |
113,900
+3,500
| +3% | +$270K |
|
|
NUAN
778
DELISTED
Nuance Communications, Inc.
NUAN
| $8.87M | 0.01% |
605,336
+19,635
| +3% | +$272K |
|
779
Westlake Corp
WLK
$10B
| $8.85M | 0.01% |
130,400
+6,300
| +5% | +$457K |
|
780
Highwoods Properties
HIW
$3.43B
| $8.82M | 0.01% |
188,602
+5,700
| +3% | +$254K |
|
781
Hanover Insurance
THG
$7.81B
| $8.8M | 0.01% |
77,100
+1,900
| +3% | +$219K |
|
782
Huntsman Corp
HUN
$1.79B
| $8.79M | 0.01% |
390,974
+10,800
| +3% | +$243K |
|
783
Avnet
AVT
$8.04B
| $8.78M | 0.01% |
202,700
+1,000
| +0.5% | +$42.2K |
|
784
Murphy Oil
MUR
$5.05B
| $8.78M | 0.01% |
299,600
+8,900
| +3% | +$253K |
|
785
MDU Resources
MDU
$4.33B
| $8.77M | 0.01% |
892,557
+26,562
| +3% | +$258K |
|
786
Texas Pacific Land
TPL
$23.9B
| $8.76M | 0.01% |
101,853
+2,700
| +3% | +$211K |
|
|
INXN
787
DELISTED
Interxion Holding N.V.
INXN
| $8.72M | 0.01% |
130,615
+4,000
| +3% | +$248K |
|
788
MGIC Investment
MTG
$6.3B
| $8.69M | 0.01% |
659,000
+13,900
| +2% | +$173K |
|
|
JBGS
789
JBG SMITH
JBGS
$684M
| $8.66M | 0.01% |
209,358
+7,200
| +4% | +$283K |
|
790
LivaNova
LIVN
$4.47B
| $8.63M | 0.01% |
88,719
+2,800
| +3% | +$261K |
|
|
ETRN
791
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $8.6M | 0.01% |
394,687
-3,200
| -0.8% | -$64.1K |
|
792
National Fuel Gas
NFG
$7.74B
| $8.6M | 0.01% |
141,000
+4,200
| +3% | +$244K |
|
793
Curtiss-Wright
CW
$26.5B
| $8.59M | 0.01% |
75,800
+1,900
| +3% | +$216K |
|
|
JHG
794
DELISTED
Janus Henderson
JHG
| $8.59M | 0.01% |
343,905
+7,300
| +2% | +$169K |
|
795
Casey's General Stores
CASY
$31B
| $8.59M | 0.01% |
66,687
+2,000
| +3% | +$262K |
|
|
GRA
796
DELISTED
W.R. Grace & Co.
GRA
| $8.58M | 0.01% |
109,900
+2,900
| +3% | +$214K |
|
797
Assured Guaranty
AGO
$3.31B
| $8.56M | 0.01% |
192,600
+900
| +0.5% | +$37.5K |
|
798
ONE Gas
OGS
$5.03B
| $8.52M | 0.01% |
95,713
+2,800
| +3% | +$235K |
|
799
Webster Financial
WBS
$12.8B
| $8.52M | 0.01% |
168,100
+5,000
| +3% | +$271K |
|
800
Insperity
NSP
$1.94B
| $8.48M | 0.01% |
68,600
+1,900
| +3% | +$217K |
|
Similar funds
Swiss National Bank's Q1 2019 Portfolio in Review
As of Q1 2019, Swiss National Bank held 2,549 positions worth $91.2B, up 17% from $78B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 2.2%. Swiss National Bank opened 13 new positions and exited 42, leaving the 2,549-position portfolio largely intact.
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.
- Swiss National Bank's largest Q1 2019 buy was Fox Class A: 1,197,967 shares worth $44M.
- Swiss National Bank added most to Walt Disney in Q1 2019, an estimated $138M increase.
- Swiss National Bank's biggest Q1 2019 reduction was Oracle, cutting an estimated $43.1M.
- Swiss National Bank fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $165M.
- Swiss National Bank's ten largest holdings make up 18% of its $91.2B portfolio in Q1 2019.
- Swiss National Bank opened 13 new positions and closed 42 in Q1 2019.
- Swiss National Bank's portfolio value rose 17% quarter-over-quarter to $91.2B.
Based on Swiss National Bank's 13F filing for Q1 2019, filed 10 May 2019.