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 |
Teva Pharmaceuticals
TEVA
|
+$145M |
| 2 |
Fortis
FTS
|
+$68.9M |
| 3 |
Intuitive Surgical
ISRG
|
+$47.9M |
| 4 |
Keurig Dr Pepper
KDP
|
+$39.6M |
| 5 |
Medtronic
MDT
|
+$34.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LNKD
LinkedIn Corporation
LNKD
|
+$63.4M |
| 2 |
Hershey
HSY
|
+$51.3M |
| 3 |
American Tower
AMT
|
+$50.3M |
| 4 |
Alcoa
AA
|
+$34.6M |
| 5 |
LLL
L3 Technologies, Inc.
LLL
|
+$32.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.54% |
| 2 | Healthcare | 14.34% |
| 3 | Industrials | 10.58% |
| 4 | Consumer Discretionary | 10.4% |
| 5 | Communication Services | 10.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Newmont
NEM
$122B
| $140M | 0.22% |
4,114,632
-17,000
| -0.4% | -$581K |
|
|
RAI
102
DELISTED
Reynolds American Inc
RAI
| $139M | 0.22% |
2,487,774
-333,600
| -12% | -$17.7M |
|
103
General Motors
GM
$77.8B
| $136M | 0.21% |
3,892,057
+48,000
| +1% | +$1.61M |
|
104
Public Storage
PSA
$60.2B
| $135M | 0.21% |
604,135
-38,700
| -6% | -$8.23M |
|
105
Target
TGT
$69.2B
| $135M | 0.21% |
1,866,811
-12,100
| -0.6% | -$876K |
|
|
RTN
106
DELISTED
Raytheon Company
RTN
| $133M | 0.21% |
939,745
+115,300
| +14% | +$16.4M |
|
107
Consolidated Edison
ED
$39.4B
| $133M | 0.21% |
1,809,671
-159,400
| -8% | -$11.5M |
|
|
108
Teva Pharmaceuticals
TEVA
$41.2B
| $132M | 0.21% |
+3,630,251
| New | +$145M |
|
109
FedEx
FDX
$76.9B
| $131M | 0.21% |
705,368
-6,000
| -0.8% | -$1.1M |
|
110
Sun Life Financial
SLF
$45.6B
| $131M | 0.21% |
3,419,200
-28,900
| -0.8% | -$1.05M |
|
111
Halliburton
HAL
$27.9B
| $130M | 0.2% |
2,398,397
+17,200
| +0.7% | +$858K |
|
112
Prudential Financial
PRU
$41.9B
| $127M | 0.2% |
1,217,387
-10,400
| -0.8% | -$986K |
|
113
AvalonBay Communities
AVB
$26.2B
| $127M | 0.2% |
714,880
+17,100
| +2% | +$2.88M |
|
114
AutoZone
AZO
$50.2B
| $125M | 0.2% |
158,591
+3,500
| +2% | +$2.69M |
|
115
Ford
F
$55.9B
| $125M | 0.2% |
10,325,835
+56,400
| +0.5% | +$684K |
|
|
116
American Tower
AMT
$78.9B
| $125M | 0.2% |
1,185,083
-463,343
| -28% | -$50.3M |
|
117
Salesforce
CRM
$161B
| $123M | 0.19% |
1,792,572
+7,600
| +0.4% | +$552K |
|
|
GG
118
DELISTED
Goldcorp Inc
GG
| $121M | 0.19% |
8,900,600
-44,900
| -0.5% | -$626K |
|
|
ESRX
119
DELISTED
Express Scripts Holding Company
ESRX
| $121M | 0.19% |
1,759,998
-270,000
| -13% | -$19.4M |
|
120
PG&E
PCG
$38B
| $120M | 0.19% |
1,976,724
+45,900
| +2% | +$2.75M |
|
121
PayPal
PYPL
$50B
| $119M | 0.19% |
3,025,491
-4,500
| -0.1% | -$181K |
|
122
Crown Castle
CCI
$31.4B
| $116M | 0.18% |
1,331,149
-101,500
| -7% | -$8.89M |
|
123
Elevance Health
ELV
$86.1B
| $114M | 0.18% |
789,641
+6,600
| +0.8% | +$884K |
|
124
Phillips 66
PSX
$85.1B
| $113M | 0.18% |
1,311,014
-1,200
| -0.1% | -$99.8K |
|
125
Northrop Grumman
NOC
$82.3B
| $113M | 0.18% |
485,984
+10,500
| +2% | +$2.44M |
|
Similar funds
Swiss National Bank's Q4 2016 Portfolio in Review
As of Q4 2016, Swiss National Bank held 2,615 positions worth $63.4B, up 1.6% from $62.4B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Trading was light in Q4 2016: portfolio turnover was 5%. Swiss National Bank opened 79 new positions and exited 51, leaving the 2,615-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 16% a quarter earlier, followed by Healthcare and Industrials.
- Swiss National Bank's largest Q4 2016 buy was Teva Pharmaceuticals: 3,630,251 shares worth $132M.
- Swiss National Bank added most to Intuitive Surgical in Q4 2016, an estimated $47.9M increase.
- Swiss National Bank's biggest Q4 2016 reduction was Hershey, cutting an estimated $51.3M.
- Swiss National Bank fully exited LinkedIn Corporation in Q4 2016, selling an estimated $63.4M.
- Swiss National Bank's ten largest holdings make up 15% of its $63.4B portfolio in Q4 2016.
- Swiss National Bank opened 79 new positions and closed 51 in Q4 2016.
- Swiss National Bank's portfolio value rose 1.6% quarter-over-quarter to $63.4B.
Based on Swiss National Bank's 13F filing for Q4 2016, filed 8 Feb 2017.