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 |
Fortive
FTV
|
+$43.6M |
| 2 |
Johnson Controls International
JCI
|
+$41.3M |
| 3 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$35.6M |
| 4 |
Telus
TU
|
+$34.2M |
| 5 |
Dell
DELL
|
+$30M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EMC
EMC CORPORATION
EMC
|
+$170M |
| 2 |
Annaly Capital Management
NLY
|
+$81.7M |
| 3 |
Thomson Reuters
TRI
|
+$78.4M |
| 4 |
AGNC Investment
AGNC
|
+$53.4M |
| 5 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$50.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.52% |
| 2 | Healthcare | 14.8% |
| 3 | Consumer Discretionary | 10.63% |
| 4 | Communication Services | 10.15% |
| 5 | Consumer Staples | 10.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
RTN
126
DELISTED
Raytheon Company
RTN
| $112M | 0.18% |
824,445
-13,700
| -2% | -$1.91M |
|
127
Sun Life Financial
SLF
$45.7B
| $112M | 0.18% |
3,448,100
-16,300
| -0.5% | -$524K |
|
|
AET
128
DELISTED
Aetna Inc
AET
| $112M | 0.18% |
971,038
-8,900
| -0.9% | -$1.04M |
|
129
eBay
EBAY
$48.2B
| $111M | 0.18% |
3,379,191
-109,500
| -3% | -$3.31M |
|
130
Hewlett Packard
HPE
$73B
| $109M | 0.17% |
8,239,907
-150,548
| -2% | -$1.86M |
|
131
Illinois Tool Works
ITW
$83.9B
| $108M | 0.17% |
899,206
-18,500
| -2% | -$2.15M |
|
|
YHOO
132
DELISTED
Yahoo Inc
YHOO
| $108M | 0.17% |
2,499,374
-22,000
| -0.9% | -$902K |
|
|
PX
133
DELISTED
Praxair Inc
PX
| $108M | 0.17% |
890,967
-9,800
| -1% | -$1.16M |
|
134
Halliburton
HAL
$28B
| $107M | 0.17% |
2,381,197
-24,700
| -1% | -$1.08M |
|
135
Phillips 66
PSX
$86.1B
| $106M | 0.17% |
1,312,214
-18,300
| -1% | -$1.42M |
|
136
Ventas
VTR
$47.1B
| $103M | 0.17% |
1,458,680
-12,700
| -0.9% | -$922K |
|
137
Yum! Brands
YUM
$39.7B
| $103M | 0.16% |
1,572,103
-21,282
| -1% | -$1.36M |
|
138
Northrop Grumman
NOC
$81.9B
| $102M | 0.16% |
475,484
-6,400
| -1% | -$1.39M |
|
139
NVIDIA
NVDA
$5.3T
| $102M | 0.16% |
59,315,400
-1,004,000
| -2% | -$1.48M |
|
140
Equity Residential
EQR
$24.7B
| $101M | 0.16% |
1,572,420
-20,900
| -1% | -$1.39M |
|
141
Prudential Financial
PRU
$42B
| $100M | 0.16% |
1,227,787
-22,400
| -2% | -$1.72M |
|
142
Xcel Energy
XEL
$48B
| $98.9M | 0.16% |
2,404,983
-33,000
| -1% | -$1.41M |
|
|
FISV
143
Fiserv Inc
FISV
$27.5B
| $98.2M | 0.16% |
1,975,144
-32,800
| -2% | -$1.72M |
|
144
Elevance Health
ELV
$86.1B
| $98.1M | 0.16% |
783,041
-5,700
| -0.7% | -$736K |
|
145
Clorox
CLX
$13B
| $97.9M | 0.16% |
781,692
-12,700
| -2% | -$1.66M |
|
146
Cigna
CI
$73.5B
| $97.3M | 0.16% |
746,974
-6,900
| -0.9% | -$901K |
|
147
Emerson Electric
EMR
$88.7B
| $97.2M | 0.16% |
1,783,173
-19,500
| -1% | -$1.05M |
|
|
MRSH
148
Marsh
MRSH
$90.8B
| $97.2M | 0.16% |
1,444,663
-16,300
| -1% | -$1.09M |
|
149
Magna International
MGA
$18.8B
| $95.9M | 0.15% |
2,232,700
-43,400
| -2% | -$1.71M |
|
|
K
150
DELISTED
Kellanova
K
| $95.7M | 0.15% |
1,315,157
-19,915
| -1% | -$1.52M |
|
Similar funds
Swiss National Bank's Q3 2016 Portfolio in Review
As of Q3 2016, Swiss National Bank held 2,590 positions worth $62.4B, up 0.99% from $61.8B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Trading was light in Q3 2016: portfolio turnover was 2.4%. Swiss National Bank opened 9 new positions and exited 54, leaving the 2,590-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 15% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2016 buy was Fortive: 1,359,115 shares worth $43.6M.
- Swiss National Bank added most to Johnson Controls International in Q3 2016, an estimated $41.3M increase.
- Swiss National Bank's biggest Q3 2016 reduction was Danaher, cutting an estimated $45.6M.
- Swiss National Bank fully exited EMC CORPORATION in Q3 2016, selling an estimated $170M.
- Swiss National Bank's ten largest holdings make up 16% of its $62.4B portfolio in Q3 2016.
- Swiss National Bank opened 9 new positions and closed 54 in Q3 2016.
- Swiss National Bank's portfolio value rose 0.99% quarter-over-quarter to $62.4B.
Based on Swiss National Bank's 13F filing for Q3 2016, filed 7 Nov 2016.