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 |
CNH
CNH Industrial
CNH
|
+$68.3M |
| 2 |
COLE
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
|
+$42.1M |
| 3 |
Merck
MRK
|
+$40.2M |
| 4 |
Qualcomm
QCOM
|
+$34.3M |
| 5 |
Crown Castle
CCI
|
+$32.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Annaly Capital Management
NLY
|
+$60.5M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$52.3M |
| 3 |
AGNC Investment
AGNC
|
+$49.6M |
| 4 |
Realty Income
O
|
+$42.3M |
| 5 |
Freeport-McMoran
FCX
|
+$37.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 13.22% |
| 2 | Healthcare | 12.93% |
| 3 | Energy | 11.93% |
| 4 | Industrials | 11.48% |
| 5 | Consumer Staples | 10.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Newmont
NEM
$119B
| $75.5M | 0.29% |
3,278,132
-173,000
| -5% | -$4.44M |
|
77
Kinder Morgan
KMI
$68.7B
| $74.2M | 0.29% |
2,060,549
+680,200
| +49% | +$23.8M |
|
|
CELG
78
DELISTED
Celgene Corp
CELG
| $74M | 0.29% |
876,396
-27,000
| -3% | -$2.14M |
|
79
AutoZone
AZO
$51.1B
| $73.6M | 0.29% |
153,987
-2,100
| -1% | -$942K |
|
80
Honeywell
HON
$78B
| $72.6M | 0.28% |
884,165
-16,582
| -2% | -$1.3M |
|
81
Biogen
BIIB
$30.7B
| $70.8M | 0.28% |
253,199
-3,900
| -2% | -$1.01M |
|
82
Cenovus Energy
CVE
$52.1B
| $69.7M | 0.27% |
2,435,900
-17,700
| -0.7% | -$516K |
|
83
Brookfield
BN
$108B
| $69.2M | 0.27% |
7,619,260
-85,001
| -1% | -$774K |
|
84
Sun Life Financial
SLF
$45.4B
| $69M | 0.27% |
1,953,100
+800
| +0% | +$27.2K |
|
|
TWX
85
DELISTED
Time Warner Inc
TWX
| $68.4M | 0.27% |
1,022,566
-30,247
| -3% | -$1.96M |
|
86
eBay
EBAY
$49.8B
| $68.1M | 0.27% |
2,949,783
-55,598
| -2% | -$1.23M |
|
|
CNH
87
CNH Industrial
CNH
$17.5B
| $67.6M | 0.26% |
+6,808,933
| New | +$68.3M |
|
88
Target
TGT
$68B
| $65.8M | 0.26% |
1,039,218
-25,200
| -2% | -$1.61M |
|
89
Verisk Analytics
VRSK
$25B
| $65.4M | 0.26% |
995,043
+12,200
| +1% | +$801K |
|
|
DD
90
DELISTED
Du Pont De Nemours E I
DD
| $63.9M | 0.25% |
1,036,143
-13,478
| -1% | -$779K |
|
91
Booking.com
BKNG
$161B
| $63.6M | 0.25% |
1,368,800
-30,000
| -2% | -$1.33M |
|
92
Caterpillar
CAT
$387B
| $62.7M | 0.24% |
690,116
-22,100
| -3% | -$1.89M |
|
93
Medtronic
MDT
$112B
| $62.4M | 0.24% |
1,087,634
-12,600
| -1% | -$714K |
|
|
FRX
94
DELISTED
FOREST LABORATORIES INC
FRX
| $62.2M | 0.24% |
1,035,580
+248,900
| +32% | +$12.5M |
|
95
Ecolab
ECL
$79.9B
| $62.1M | 0.24% |
595,368
+233,800
| +65% | +$24.3M |
|
96
Clorox
CLX
$12.7B
| $61.1M | 0.24% |
658,292
-8,700
| -1% | -$784K |
|
|
ESRX
97
DELISTED
Express Scripts Holding Company
ESRX
| $60.9M | 0.24% |
867,298
-20,600
| -2% | -$1.35M |
|
98
Ford
F
$55.7B
| $60.4M | 0.24% |
3,916,535
-54,900
| -1% | -$921K |
|
99
Church & Dwight Co
CHD
$24.5B
| $60.3M | 0.24% |
1,818,472
-19,200
| -1% | -$619K |
|
100
Magna International
MGA
$18.8B
| $60.3M | 0.24% |
1,470,200
-47,000
| -3% | -$1.94M |
|
Similar funds
Swiss National Bank's Q4 2013 Portfolio in Review
As of Q4 2013, Swiss National Bank held 2,581 positions worth $25.6B, up 6.8% from $24B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Swiss National Bank's Q4 2013 filing shows 99 new, 547 increased, 645 reduced and 74 closed positions. Its largest new stake was CNH Industrial: 6,808,933 shares worth $67.6M. The largest sale was Annaly Capital Management, an estimated $60.5M.
By sector, the portfolio is most concentrated in Technology at 13% of assets, up from 13% a quarter earlier, followed by Healthcare and Energy.
- Swiss National Bank's largest Q4 2013 buy was CNH Industrial: 6,808,933 shares worth $67.6M.
- Swiss National Bank added most to Merck in Q4 2013, an estimated $40.2M increase.
- Swiss National Bank's biggest Q4 2013 reduction was Annaly Capital Management, cutting an estimated $60.5M.
- Swiss National Bank fully exited Freeport-McMoran in Q4 2013, selling an estimated $37.3M.
- Swiss National Bank's ten largest holdings make up 14% of its $25.6B portfolio in Q4 2013.
- Swiss National Bank opened 99 new positions and closed 74 in Q4 2013.
- Swiss National Bank's portfolio value rose 6.8% quarter-over-quarter to $25.6B.
Based on Swiss National Bank's 13F filing for Q4 2013, filed 31 Jan 2014.