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 |
Nutrien
NTR
|
+$117M |
| 2 |
WP
Worldpay, Inc.
WP
|
+$36.3M |
| 3 |
Becton Dickinson
BDX
|
+$30.5M |
| 4 |
Alibaba
BABA
|
+$29.1M |
| 5 |
NXP Semiconductors
NXPI
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$443M |
| 2 |
Microsoft
MSFT
|
+$315M |
| 3 |
Amazon
AMZN
|
+$275M |
| 4 |
Meta Platforms (Facebook)
META
|
+$191M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.01% |
| 2 | Healthcare | 14.49% |
| 3 | Consumer Discretionary | 11.53% |
| 4 | Industrials | 10.43% |
| 5 | Communication Services | 10.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
WBA
101
DELISTED
Walgreens Boots Alliance
WBA
| $177M | 0.22% |
2,700,703
-657,500
| -20% | -$47M |
|
102
Consolidated Edison
ED
$39.3B
| $171M | 0.21% |
2,188,771
-4,500
| -0.2% | -$350K |
|
103
Occidental Petroleum
OXY
$58.6B
| $165M | 0.2% |
2,543,643
-354,800
| -12% | -$24.8M |
|
|
FISV
104
Fiserv Inc
FISV
$27.8B
| $164M | 0.2% |
2,296,944
-99,000
| -4% | -$6.96M |
|
105
Constellation Brands
STZ
$22.8B
| $162M | 0.2% |
710,016
-62,700
| -8% | -$13.8M |
|
106
Kimberly-Clark
KMB
$35.9B
| $160M | 0.2% |
1,454,428
-135,800
| -9% | -$15.5M |
|
107
American International
AIG
$40.7B
| $157M | 0.19% |
2,885,356
-447,400
| -13% | -$26.4M |
|
108
Intuit
INTU
$91.5B
| $156M | 0.19% |
897,673
-105,000
| -10% | -$17.7M |
|
|
ATVI
109
DELISTED
Activision Blizzard
ATVI
| $155M | 0.19% |
2,304,534
-337,900
| -13% | -$23.9M |
|
110
Illinois Tool Works
ITW
$83.9B
| $155M | 0.19% |
989,306
-153,300
| -13% | -$25.4M |
|
111
Simon Property Group
SPG
$71.5B
| $154M | 0.19% |
997,298
-149,300
| -13% | -$23.7M |
|
112
Cognizant
CTSH
$26.3B
| $152M | 0.19% |
1,891,730
-290,700
| -13% | -$23M |
|
113
CSX Corp
CSX
$92.8B
| $152M | 0.19% |
8,172,060
-1,942,200
| -19% | -$36.3M |
|
|
PX
114
DELISTED
Praxair Inc
PX
| $151M | 0.18% |
1,049,767
-120,800
| -10% | -$18.8M |
|
115
Allstate
ALL
$68.2B
| $149M | 0.18% |
1,575,973
-132,400
| -8% | -$12.8M |
|
116
Public Storage
PSA
$60.8B
| $149M | 0.18% |
744,635
-46,300
| -6% | -$9.02M |
|
117
General Motors
GM
$77.2B
| $149M | 0.18% |
4,101,457
-736,700
| -15% | -$29.9M |
|
118
Humana
HUM
$46.3B
| $148M | 0.18% |
550,026
-64,600
| -11% | -$17.5M |
|
119
Progressive
PGR
$124B
| $148M | 0.18% |
2,426,134
-210,800
| -8% | -$12M |
|
120
Cigna
CI
$73.6B
| $146M | 0.18% |
870,674
-129,500
| -13% | -$25.2M |
|
121
Fidelity National Information Services
FIS
$21.9B
| $144M | 0.18% |
1,498,613
-103,400
| -6% | -$10.1M |
|
|
MRSH
122
Marsh
MRSH
$91B
| $143M | 0.17% |
1,728,863
-241,700
| -12% | -$20M |
|
123
Kraft Heinz
KHC
$29.6B
| $142M | 0.17% |
2,287,463
-252,300
| -10% | -$18.1M |
|
124
Keurig Dr Pepper
KDP
$39.9B
| $141M | 0.17% |
1,194,113
-18,500
| -2% | -$2.05M |
|
125
AvalonBay Communities
AVB
$26.3B
| $141M | 0.17% |
857,280
-16,400
| -2% | -$2.69M |
|
Similar funds
Swiss National Bank's Q1 2018 Portfolio in Review
As of Q1 2018, Swiss National Bank held 2,520 positions worth $82B, down 11% from $92.6B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Swiss National Bank withdrew a net $9.58B in Q1 2018, closing 36 positions and reducing 634 holdings. Its most notable exit was Potash Corp Of Saskatchewan, an estimated $66.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Nutrien worth $111M.
- Swiss National Bank's largest Q1 2018 buy was Nutrien: 2,341,052 shares worth $111M.
- Swiss National Bank added most to Worldpay, Inc. in Q1 2018, an estimated $36.3M increase.
- Swiss National Bank's biggest Q1 2018 reduction was Apple, cutting an estimated $443M.
- Swiss National Bank fully exited Potash Corp Of Saskatchewan in Q1 2018, selling an estimated $66.5M.
- Swiss National Bank's ten largest holdings make up 17% of its $82B portfolio in Q1 2018.
- Swiss National Bank opened 6 new positions and closed 36 in Q1 2018.
- Swiss National Bank's portfolio value fell 11% quarter-over-quarter to $82B.
Based on Swiss National Bank's 13F filing for Q1 2018, filed 4 May 2018.