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 | |
|---|---|---|---|---|---|---|
1001
Antero Midstream
AM
$10.5B
| $5.73M | 0.01% |
415,800
+284,100
| +216% | +$3.71M |
|
|
MNDT
1002
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $5.73M | 0.01% |
341,100
+13,500
| +4% | +$227K |
|
1003
NovoCure
NVCR
$2.02B
| $5.72M | 0.01% |
118,700
+4,200
| +4% | +$202K |
|
|
LHCG
1004
DELISTED
LHC Group LLC
LHCG
| $5.71M | 0.01% |
51,466
+1,600
| +3% | +$171K |
|
1005
First Financial Bankshares
FFIN
$5.04B
| $5.7M | 0.01% |
197,400
+6,000
| +3% | +$183K |
|
|
UFS
1006
DELISTED
DOMTAR CORPORATION (New)
UFS
| $5.7M | 0.01% |
114,700
+3,500
| +3% | +$166K |
|
1007
Cracker Barrel
CBRL
$1.31B
| $5.66M | 0.01% |
35,050
+1,100
| +3% | +$181K |
|
1008
Mercury Systems
MRCY
$6.59B
| $5.65M | 0.01% |
88,200
+2,900
| +3% | +$167K |
|
1009
Telephone and Data Systems
TDS
$4.03B
| $5.62M | 0.01% |
182,900
+7,100
| +4% | +$242K |
|
1010
RLJ Lodging Trust
RLJ
$1.67B
| $5.61M | 0.01% |
319,358
+9,400
| +3% | +$171K |
|
1011
Helen of Troy
HELE
$699M
| $5.58M | 0.01% |
48,100
+1,500
| +3% | +$173K |
|
1012
Community Bank
CBU
$3.46B
| $5.58M | 0.01% |
93,300
+2,900
| +3% | +$179K |
|
1013
Core Laboratories
CLB
$569M
| $5.56M | 0.01% |
80,600
+2,400
| +3% | +$161K |
|
1014
Patterson-UTI
PTEN
$4.16B
| $5.56M | 0.01% |
396,300
+7,200
| +2% | +$94.4K |
|
1015
MasTec
MTZ
$23B
| $5.55M | 0.01% |
115,300
| – | – |
|
|
TGNA
1016
DELISTED
TEGNA Inc
TGNA
| $5.53M | 0.01% |
392,400
+11,800
| +3% | +$150K |
|
1017
Acadia Pharmaceuticals
ACAD
$4.89B
| $5.53M | 0.01% |
205,804
+2,400
| +1% | +$56K |
|
|
PGRE
1018
DELISTED
Paramount Group
PGRE
| $5.52M | 0.01% |
389,143
+6,400
| +2% | +$90.3K |
|
|
MZTI
1019
The Marzetti Company
MZTI
$3.22B
| $5.5M | 0.01% |
35,126
+1,100
| +3% | +$177K |
|
1020
Timken Company
TKR
$9.1B
| $5.5M | 0.01% |
126,100
+3,400
| +3% | +$145K |
|
1021
Kennametal
KMT
$2.32B
| $5.5M | 0.01% |
149,600
+5,200
| +4% | +$190K |
|
1022
Valley National Bancorp
VLY
$8.3B
| $5.49M | 0.01% |
573,900
+17,100
| +3% | +$174K |
|
1023
O-I Glass
OI
$1.05B
| $5.49M | 0.01% |
289,224
+5,300
| +2% | +$103K |
|
|
UNVR
1024
DELISTED
Univar Solutions Inc.
UNVR
| $5.48M | 0.01% |
247,138
+47,138
| +24% | +$1.02M |
|
1025
Exponent
EXPO
$3.24B
| $5.47M | 0.01% |
94,800
+2,800
| +3% | +$151K |
|
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.