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 | |
|---|---|---|---|---|---|---|
101
Nike
NKE
$61.9B
| $59.7M | 0.23% |
1,518,168
-31,800
| -2% | -$1.22M |
|
|
RAI
102
DELISTED
Reynolds American Inc
RAI
| $58.5M | 0.23% |
2,339,694
-32,400
| -1% | -$817K |
|
103
HP
HPQ
$27.5B
| $58.4M | 0.23% |
4,594,015
-41,618
| -0.9% | -$478K |
|
|
TFCFA
104
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $57.6M | 0.22% |
1,636,799
-26,600
| -2% | -$897K |
|
105
DuPont de Nemours
DD
$19.2B
| $57.3M | 0.22% |
509,232
-8,055
| -2% | -$826K |
|
|
PX
106
DELISTED
Praxair Inc
PX
| $56.9M | 0.22% |
437,567
+117,300
| +37% | +$14.6M |
|
107
Accenture
ACN
$108B
| $56.5M | 0.22% |
687,317
-16,600
| -2% | -$1.26M |
|
108
NextEra Energy
NEE
$177B
| $56.2M | 0.22% |
2,627,296
-38,000
| -1% | -$801K |
|
109
Waste Management
WM
$91B
| $56M | 0.22% |
1,248,203
-13,600
| -1% | -$594K |
|
|
QGENF
110
DELISTED
QIAGEN NV
QGENF
| $55.9M | 0.22% |
2,398,604
-69,777
| -3% | -$1.63M |
|
|
111
Crown Castle
CCI
$32.2B
| $55.9M | 0.22% |
760,873
+442,700
| +139% | +$32.8M |
|
112
PG&E
PCG
$38.5B
| $55.9M | 0.22% |
1,387,024
-13,400
| -1% | -$549K |
|
|
EMC
113
DELISTED
EMC CORPORATION
EMC
| $55.8M | 0.22% |
2,217,397
-57,600
| -3% | -$1.4M |
|
114
Lowe's Companies
LOW
$125B
| $55.5M | 0.22% |
1,120,848
-57,900
| -5% | -$2.81M |
|
115
Costco
COST
$420B
| $55.4M | 0.22% |
465,308
-7,200
| -2% | -$861K |
|
|
AGN
116
DELISTED
Allergan plc
AGN
| $55.2M | 0.22% |
328,781
+44,140
| +16% | +$6.9M |
|
|
AGN
117
DELISTED
Allergan Inc
AGN
| $55.2M | 0.22% |
496,564
-6,500
| -1% | -$621K |
|
|
WBA
118
DELISTED
Walgreens Boots Alliance
WBA
| $54.9M | 0.21% |
956,603
-18,100
| -2% | -$1.05M |
|
119
MetLife
MET
$62.1B
| $54.5M | 0.21% |
1,133,148
+2,244
| +0.2% | +$101K |
|
|
KMR
120
DELISTED
KINDER MORGAN MANAGEMENT LLC
KMR
| $54.2M | 0.21% |
766,149
-41,030
| -5% | -$2.86M |
|
121
Wheaton Precious Metals
WPM
$60.9B
| $53.4M | 0.21% |
2,646,700
+1,495,800
| +130% | +$32.5M |
|
122
Emerson Electric
EMR
$88.3B
| $53.4M | 0.21% |
760,673
-17,800
| -2% | -$1.19M |
|
|
SDRL
123
DELISTED
Seadrill Limited Common Stock
SDRL
| $53.3M | 0.21% |
4,883
-89
| -2% | -$1.05M |
|
|
K
124
DELISTED
Kellanova
K
| $53.1M | 0.21% |
926,325
-15,336
| -2% | -$883K |
|
125
Rogers Communications
RCI
$18.6B
| $52.8M | 0.21% |
1,166,800
-10,000
| -0.8% | -$445K |
|
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.