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 |
Dow Inc
DOW
|
+$132M |
| 2 |
Newmont
NEM
|
+$67.7M |
| 3 |
Corteva
CTVA
|
+$65.9M |
| 4 |
Amcor
AMCR
|
+$58.2M |
| 5 |
Alibaba
BABA
|
+$48.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DuPont de Nemours
DD
|
+$128M |
| 2 |
Apple
AAPL
|
+$93M |
| 3 |
GG
Goldcorp Inc
GG
|
+$78.3M |
| 4 |
Microsoft
MSFT
|
+$73.5M |
| 5 |
Pfizer
PFE
|
+$52.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.91% |
| 2 | Healthcare | 14.68% |
| 3 | Consumer Discretionary | 11.95% |
| 4 | Communication Services | 10.15% |
| 5 | Industrials | 9.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
American International
AIG
$41.3B
| $151M | 0.16% |
2,834,556
-118,400
| -4% | -$5.9M |
|
127
Biogen
BIIB
$30.7B
| $150M | 0.16% |
641,199
-31,400
| -5% | -$7.25M |
|
128
Equinix
EQIX
$103B
| $150M | 0.16% |
297,309
-6,000
| -2% | -$2.88M |
|
129
Ross Stores
ROST
$81.9B
| $149M | 0.16% |
1,499,792
-44,400
| -3% | -$4.33M |
|
130
Paychex
PAYX
$42.7B
| $148M | 0.16% |
1,804,503
-44,200
| -2% | -$3.73M |
|
131
Target
TGT
$68B
| $147M | 0.16% |
1,701,217
+46,500
| +3% | +$3.76M |
|
132
Republic Services
RSG
$65.7B
| $145M | 0.16% |
1,677,648
-47,800
| -3% | -$3.98M |
|
133
General Dynamics
GD
$106B
| $145M | 0.16% |
798,746
-41,500
| -5% | -$7.14M |
|
134
Amphenol
APH
$209B
| $144M | 0.15% |
5,984,200
-185,600
| -3% | -$4.47M |
|
|
WBA
135
DELISTED
Walgreens Boots Alliance
WBA
| $143M | 0.15% |
2,616,903
-76,200
| -3% | -$4.05M |
|
136
Micron Technology
MU
$991B
| $141M | 0.15% |
3,654,703
-131,300
| -3% | -$5M |
|
137
Humana
HUM
$46.2B
| $141M | 0.15% |
529,826
-18,200
| -3% | -$4.62M |
|
138
Aflac
AFL
$62.6B
| $140M | 0.15% |
2,560,890
-98,500
| -4% | -$5.08M |
|
139
WEC Energy
WEC
$35.1B
| $140M | 0.15% |
1,681,781
-43,200
| -3% | -$3.46M |
|
140
Equity Residential
EQR
$25.1B
| $139M | 0.15% |
1,836,620
-40,400
| -2% | -$3.09M |
|
141
Phillips 66
PSX
$81.4B
| $139M | 0.15% |
1,486,614
+23,700
| +2% | +$2.13M |
|
142
Applied Materials
AMAT
$428B
| $139M | 0.15% |
3,095,022
-186,100
| -6% | -$7.83M |
|
143
Kinder Morgan
KMI
$68.7B
| $139M | 0.15% |
6,641,669
+11,400
| +0.2% | +$230K |
|
144
General Mills
GIS
$19.7B
| $138M | 0.15% |
2,636,416
-62,500
| -2% | -$3.23M |
|
145
Dollar General
DG
$27.9B
| $138M | 0.15% |
1,020,752
-33,800
| -3% | -$4.27M |
|
146
NXP Semiconductors
NXPI
$60.4B
| $138M | 0.15% |
1,408,929
-331,000
| -19% | -$32.1M |
|
147
Clorox
CLX
$12.7B
| $137M | 0.15% |
891,592
-20,700
| -2% | -$3.16M |
|
148
Analog Devices
ADI
$190B
| $136M | 0.15% |
1,201,848
-33,700
| -3% | -$3.65M |
|
149
Sysco
SYY
$40.3B
| $135M | 0.15% |
1,911,240
-66,700
| -3% | -$4.75M |
|
150
Prudential Financial
PRU
$41.8B
| $135M | 0.15% |
1,333,287
-45,400
| -3% | -$4.53M |
|
Similar funds
Swiss National Bank's Q2 2019 Portfolio in Review
As of Q2 2019, Swiss National Bank held 2,619 positions worth $92.7B, up 1.7% from $91.2B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Swiss National Bank's Q2 2019 filing shows 112 new, 1,554 increased, 696 reduced and 65 closed positions. Its largest new stake was Dow Inc: 2,494,044 shares worth $123M. The largest sale was DuPont de Nemours, an estimated $128M.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q2 2019 buy was Dow Inc: 2,494,044 shares worth $123M.
- Swiss National Bank added most to Newmont in Q2 2019, an estimated $67.7M increase.
- Swiss National Bank's biggest Q2 2019 reduction was DuPont de Nemours, cutting an estimated $128M.
- Swiss National Bank fully exited Goldcorp Inc in Q2 2019, selling an estimated $78.3M.
- Swiss National Bank's ten largest holdings make up 18% of its $92.7B portfolio in Q2 2019.
- Swiss National Bank opened 112 new positions and closed 65 in Q2 2019.
- Swiss National Bank's portfolio value rose 1.7% quarter-over-quarter to $92.7B.
Based on Swiss National Bank's 13F filing for Q2 2019, filed 2 Aug 2019.