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 |
Walt Disney
DIS
|
+$138M |
| 2 |
Alibaba
BABA
|
+$100M |
| 3 |
Microsoft
MSFT
|
+$72.8M |
| 4 |
Amazon
AMZN
|
+$65.7M |
| 5 |
Fox Class A
FOXA
|
+$46.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$165M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$68.3M |
| 3 |
Oracle
ORCL
|
+$43.1M |
| 4 |
PG&E
PCG
|
+$41.2M |
| 5 |
Qualcomm
QCOM
|
+$28.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.64% |
| 2 | Healthcare | 15.18% |
| 3 | Consumer Discretionary | 11.83% |
| 4 | Communication Services | 10.12% |
| 5 | Industrials | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Allstate
ALL
$68.2B
| $148M | 0.16% |
1,567,673
+36,000
| +2% | +$3.26M |
|
127
ServiceNow
NOW
$132B
| $148M | 0.16% |
2,993,000
+102,000
| +4% | +$4.48M |
|
128
Newmont
NEM
$124B
| $147M | 0.16% |
4,106,932
+139,000
| +4% | +$4.71M |
|
129
Clorox
CLX
$13B
| $146M | 0.16% |
912,292
+22,900
| +3% | +$3.55M |
|
130
Humana
HUM
$46.3B
| $146M | 0.16% |
548,026
+12,600
| +2% | +$3.63M |
|
131
Amphenol
APH
$207B
| $146M | 0.16% |
6,169,800
+174,400
| +3% | +$3.9M |
|
132
Cognizant
CTSH
$26.3B
| $144M | 0.16% |
1,990,530
+47,500
| +2% | +$3.32M |
|
133
TC Energy
TRP
$66B
| $144M | 0.16% |
3,200,500
+57,700
| +2% | +$2.48M |
|
134
Ross Stores
ROST
$81.7B
| $144M | 0.16% |
1,544,192
+30,700
| +2% | +$2.82M |
|
135
Illinois Tool Works
ITW
$83.9B
| $143M | 0.16% |
997,306
+15,900
| +2% | +$2.2M |
|
136
Emerson Electric
EMR
$88.5B
| $143M | 0.16% |
2,090,073
+47,100
| +2% | +$3.1M |
|
137
Motorola Solutions
MSI
$76.5B
| $143M | 0.16% |
1,016,678
+31,200
| +3% | +$4.05M |
|
138
General Dynamics
GD
$107B
| $142M | 0.16% |
840,246
+19,700
| +2% | +$3.32M |
|
139
Equity Residential
EQR
$24.7B
| $141M | 0.16% |
1,877,020
+50,600
| +3% | +$3.65M |
|
140
Air Products & Chemicals
APD
$68.6B
| $140M | 0.15% |
732,806
+20,000
| +3% | +$3.44M |
|
141
General Mills
GIS
$19.9B
| $140M | 0.15% |
2,698,916
+72,500
| +3% | +$3.28M |
|
142
Phillips 66
PSX
$86B
| $139M | 0.15% |
1,462,914
+28,200
| +2% | +$2.68M |
|
143
Republic Services
RSG
$65.7B
| $139M | 0.15% |
1,725,448
+44,300
| +3% | +$3.41M |
|
144
Marathon Petroleum
MPC
$90B
| $138M | 0.15% |
2,305,982
+60,400
| +3% | +$3.8M |
|
145
Equinix
EQIX
$103B
| $137M | 0.15% |
303,309
+10,900
| +4% | +$4.44M |
|
146
WEC Energy
WEC
$34.6B
| $136M | 0.15% |
1,724,981
+45,200
| +3% | +$3.35M |
|
147
McCormick & Company Non-Voting
MKC
$14.3B
| $134M | 0.15% |
1,773,096
-4,400
| -0.2% | -$297K |
|
148
Edwards Lifesciences
EW
$53B
| $133M | 0.15% |
2,093,094
+51,000
| +2% | +$2.91M |
|
149
Aflac
AFL
$61.2B
| $133M | 0.15% |
2,659,390
+48,200
| +2% | +$2.32M |
|
150
Target
TGT
$69B
| $133M | 0.15% |
1,654,717
+29,200
| +2% | +$2.13M |
|
Similar funds
Swiss National Bank's Q1 2019 Portfolio in Review
As of Q1 2019, Swiss National Bank held 2,549 positions worth $91.2B, up 17% from $78B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 2.2%. Swiss National Bank opened 13 new positions and exited 42, leaving the 2,549-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q1 2019 buy was Fox Class A: 1,197,967 shares worth $44M.
- Swiss National Bank added most to Walt Disney in Q1 2019, an estimated $138M increase.
- Swiss National Bank's biggest Q1 2019 reduction was Oracle, cutting an estimated $43.1M.
- Swiss National Bank fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $165M.
- Swiss National Bank's ten largest holdings make up 18% of its $91.2B portfolio in Q1 2019.
- Swiss National Bank opened 13 new positions and closed 42 in Q1 2019.
- Swiss National Bank's portfolio value rose 17% quarter-over-quarter to $91.2B.
Based on Swiss National Bank's 13F filing for Q1 2019, filed 10 May 2019.