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 |
DuPont de Nemours
DD
|
+$273M |
| 2 |
Baker Hughes
BKR
|
+$52.8M |
| 3 |
ExxonMobil
XOM
|
+$37.9M |
| 4 |
NVIDIA
NVDA
|
+$37.3M |
| 5 |
Oneok
OKE
|
+$34.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RAI
Reynolds American Inc
RAI
|
+$267M |
| 2 |
DD
Du Pont De Nemours E I
DD
|
+$265M |
| 3 |
BHI
Baker Hughes
BHI
|
+$80.5M |
| 4 |
Alibaba
BABA
|
+$51.2M |
| 5 |
WFM
Whole Foods Market Inc
WFM
|
+$48.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.43% |
| 2 | Healthcare | 15.4% |
| 3 | Consumer Discretionary | 10.77% |
| 4 | Communication Services | 10.69% |
| 5 | Industrials | 10.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
AvalonBay Communities
AVB
$26.8B
| $153M | 0.17% |
858,580
+9,000
| +1% | +$1.69M |
|
127
Constellation Brands
STZ
$23.2B
| $153M | 0.17% |
765,916
+2,900
| +0.4% | +$574K |
|
128
Micron Technology
MU
$991B
| $152M | 0.17% |
3,874,503
+49,200
| +1% | +$1.56M |
|
129
Humana
HUM
$46.2B
| $149M | 0.17% |
613,426
-9,400
| -2% | -$2.3M |
|
130
Emerson Electric
EMR
$88.3B
| $149M | 0.17% |
2,374,473
+17,700
| +0.8% | +$1.07M |
|
131
Equinix
EQIX
$103B
| $149M | 0.17% |
333,609
+6,600
| +2% | +$2.96M |
|
132
Allstate
ALL
$67.5B
| $148M | 0.17% |
1,614,673
+12,100
| +0.8% | +$1.1M |
|
133
Phillips 66
PSX
$81.4B
| $148M | 0.17% |
1,617,514
+10,400
| +0.6% | +$881K |
|
134
Fidelity National Information Services
FIS
$22.1B
| $147M | 0.17% |
1,577,813
+20,700
| +1% | +$1.88M |
|
135
Halliburton
HAL
$26.6B
| $147M | 0.17% |
3,199,397
+31,700
| +1% | +$1.33M |
|
136
Aon
AON
$76B
| $146M | 0.17% |
998,071
+7,700
| +0.8% | +$1.07M |
|
137
Dell
DELL
$293B
| $146M | 0.17% |
6,717,021
-64,138
| -0.9% | -$1.24M |
|
138
General Mills
GIS
$19.7B
| $146M | 0.17% |
2,811,716
+12,000
| +0.4% | +$658K |
|
139
Canadian Natural Resources
CNQ
$93.8B
| $144M | 0.16% |
8,797,140
+20,828
| +0.2% | +$319K |
|
140
Kinder Morgan
KMI
$68.7B
| $142M | 0.16% |
7,402,869
+66,400
| +0.9% | +$1.29M |
|
141
Norfolk Southern
NSC
$75.1B
| $141M | 0.16% |
1,068,247
+7,300
| +0.7% | +$887K |
|
142
Xcel Energy
XEL
$48.8B
| $141M | 0.16% |
2,972,083
+26,200
| +0.9% | +$1.26M |
|
143
Vertex Pharmaceuticals
VRTX
$126B
| $140M | 0.16% |
918,209
+11,100
| +1% | +$1.67M |
|
144
Baxter International
BAX
$14.2B
| $139M | 0.16% |
2,220,639
+31,800
| +1% | +$1.96M |
|
145
Johnson Controls International
JCI
$92.2B
| $139M | 0.16% |
3,456,921
+29,300
| +0.9% | +$1.19M |
|
|
ESRX
146
DELISTED
Express Scripts Holding Company
ESRX
| $139M | 0.16% |
2,197,198
-14,600
| -0.7% | -$907K |
|
147
Baidu
BIDU
$37.2B
| $137M | 0.16% |
552,289
-85,309
| -13% | -$18.6M |
|
148
Marriott International
MAR
$92.3B
| $135M | 0.15% |
1,228,644
-100
| -0% | -$10.3K |
|
|
EA
149
DELISTED
Electronic Arts
EA
| $135M | 0.15% |
1,142,955
+17,400
| +2% | +$2.02M |
|
150
American Electric Power
AEP
$68.4B
| $135M | 0.15% |
1,917,289
+17,000
| +0.9% | +$1.21M |
|
Similar funds
Swiss National Bank's Q3 2017 Portfolio in Review
As of Q3 2017, Swiss National Bank held 2,565 positions worth $87.8B, up 4.2% from $84.3B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Trading was light in Q3 2017: portfolio turnover was 1.7%. Swiss National Bank opened 7 new positions and exited 37, leaving the 2,565-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 17% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2017 buy was Baker Hughes: 1,488,728 shares worth $54.5M.
- Swiss National Bank added most to DuPont de Nemours in Q3 2017, an estimated $273M increase.
- Swiss National Bank's biggest Q3 2017 reduction was Alibaba, cutting an estimated $51.2M.
- Swiss National Bank fully exited Reynolds American Inc in Q3 2017, selling an estimated $267M.
- Swiss National Bank's ten largest holdings make up 17% of its $87.8B portfolio in Q3 2017.
- Swiss National Bank opened 7 new positions and closed 37 in Q3 2017.
- Swiss National Bank's portfolio value rose 4.2% quarter-over-quarter to $87.8B.
Based on Swiss National Bank's 13F filing for Q3 2017, filed 3 Nov 2017.