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 | |
|---|---|---|---|---|---|---|
1051
Strategic Education
STRA
$1.86B
| $5.21M | 0.01% |
39,638
+1,500
| +4% | +$183K |
|
1052
Monro
MNRO
$352M
| $5.2M | 0.01% |
60,142
+2,000
| +3% | +$151K |
|
1053
Commault Systems
CVLT
$6.26B
| $5.19M | 0.01% |
80,100
+3,300
| +4% | +$213K |
|
1054
Delek US
DK
$4.18B
| $5.17M | 0.01% |
141,919
+900
| +0.6% | +$30.6K |
|
|
MGP
1055
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $5.17M | 0.01% |
160,201
+34,800
| +28% | +$1.05M |
|
|
BDN
1056
Brandywine Realty Trust
BDN
$542M
| $5.16M | 0.01% |
325,500
+9,700
| +3% | +$146K |
|
1057
Choice Hotels
CHH
$4.71B
| $5.16M | 0.01% |
66,367
+1,300
| +2% | +$101K |
|
1058
Cleveland-Cliffs
CLF
$6.93B
| $5.15M | 0.01% |
515,900
+15,400
| +3% | +$154K |
|
1059
Viavi Solutions
VIAV
$10.6B
| $5.15M | 0.01% |
416,300
+15,400
| +4% | +$180K |
|
1060
Paylocity
PCTY
$8.1B
| $5.15M | 0.01% |
57,750
+1,800
| +3% | +$140K |
|
1061
Moog Inc Class A
MOG.A
$13.5B
| $5.15M | 0.01% |
59,200
+1,800
| +3% | +$157K |
|
1062
Navient
NAVI
$867M
| $5.14M | 0.01% |
444,500
| – | – |
|
1063
Floor & Decor
FND
$6.27B
| $5.13M | 0.01% |
124,500
+21,400
| +21% | +$751K |
|
1064
Descartes Systems
DSGX
$6.62B
| $5.13M | 0.01% |
141,100
+2,500
| +2% | +$80.9K |
|
1065
Steven Madden
SHOO
$3.46B
| $5.12M | 0.01% |
151,425
+4,000
| +3% | +$131K |
|
|
DHC
1066
Diversified Healthcare Trust
DHC
$2.03B
| $5.12M | 0.01% |
433,200
+13,000
| +3% | +$167K |
|
1067
Novanta
NOVT
$6.33B
| $5.12M | 0.01% |
60,400
+2,200
| +4% | +$165K |
|
1068
Federated Hermes
FHI
$4.74B
| $5.1M | 0.01% |
174,017
+4,800
| +3% | +$133K |
|
1069
B2Gold
BTG
$6.7B
| $5.09M | 0.01% |
1,816,829
+33,100
| +2% | +$98.6K |
|
1070
Pan American Silver
PAAS
$19.9B
| $5.07M | 0.01% |
383,500
+108,000
| +39% | +$1.51M |
|
|
KW
1071
DELISTED
Kennedy-Wilson Holdings
KW
| $5.06M | 0.01% |
236,468
+7,000
| +3% | +$142K |
|
1072
Qualys
QLYS
$6.78B
| $5.05M | 0.01% |
61,000
+2,400
| +4% | +$200K |
|
1073
Sinclair Inc
SBGI
$1.03B
| $5.04M | 0.01% |
130,850
-4,600
| -3% | -$154K |
|
1074
EnerSys
ENS
$7.2B
| $5M | 0.01% |
76,800
+2,300
| +3% | +$174K |
|
|
SJI
1075
DELISTED
South Jersey Industries, Inc.
SJI
| $5M | 0.01% |
155,809
+4,600
| +3% | +$139K |
|
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.