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 | |
|---|---|---|---|---|---|---|
|
MNTA
1551
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $2.42M | ﹤0.01% |
166,200
+3,600
| +2% | +$46K |
|
|
HTLF
1552
DELISTED
Heartland Financial USA, Inc.
HTLF
| $2.41M | ﹤0.01% |
56,600
+1,800
| +3% | +$83.6K |
|
|
ILPT
1553
Industrial Logistics Properties Trust
ILPT
$605M
| $2.4M | ﹤0.01% |
119,147
| – | – |
|
1554
BGC Group
BGC
$5.12B
| $2.4M | ﹤0.01% |
452,408
+13,500
| +3% | +$80.3K |
|
1555
Employers Holdings
EIG
$864M
| $2.4M | ﹤0.01% |
59,800
+1,900
| +3% | +$80.3K |
|
1556
OR Royalties Inc
OR
$6.31B
| $2.4M | ﹤0.01% |
213,130
+1,400
| +0.7% | +$14.4K |
|
1557
Kinsale Capital Group
KNSL
$8.51B
| $2.39M | ﹤0.01% |
34,862
+1,200
| +4% | +$75K |
|
|
BRSP
1558
BrightSpire Capital
BRSP
$628M
| $2.38M | ﹤0.01% |
152,100
+4,500
| +3% | +$74K |
|
1559
Interparfums
IPAR
$3.78B
| $2.38M | ﹤0.01% |
31,400
+900
| +3% | +$63K |
|
|
CBM
1560
DELISTED
Cambrex Corporation
CBM
| $2.38M | ﹤0.01% |
61,200
+2,400
| +4% | +$98.3K |
|
1561
Gibraltar Industries
ROCK
$1.46B
| $2.38M | ﹤0.01% |
58,500
+1,900
| +3% | +$72.5K |
|
1562
Amneal Pharmaceuticals
AMRX
$6.15B
| $2.38M | ﹤0.01% |
167,600
+96,500
| +136% | +$1.28M |
|
|
ATRI
1563
DELISTED
Atrion Corp
ATRI
| $2.37M | ﹤0.01% |
2,702
+100
| +4% | +$78.8K |
|
|
RDC
1564
DELISTED
Rowan Companies Plc
RDC
| $2.37M | ﹤0.01% |
220,000
+6,600
| +3% | +$76.9K |
|
|
AVP
1565
DELISTED
Avon Products, Inc.
AVP
| $2.37M | ﹤0.01% |
806,200
+24,000
| +3% | +$60.4K |
|
1566
Workiva
WK
$3.7B
| $2.37M | ﹤0.01% |
46,721
+2,300
| +5% | +$101K |
|
1567
Gentherm
THRM
$1.27B
| $2.37M | ﹤0.01% |
64,200
| – | – |
|
|
SFLY
1568
DELISTED
Shutterfly, Inc.
SFLY
| $2.37M | ﹤0.01% |
58,200
+2,000
| +4% | +$87.9K |
|
1569
Artisan Partners
APAM
$2.97B
| $2.35M | ﹤0.01% |
93,500
+2,800
| +3% | +$68.4K |
|
1570
Varex Imaging
VREX
$778M
| $2.35M | ﹤0.01% |
69,440
+2,200
| +3% | +$66.5K |
|
1571
Pitney Bowes
PBI
$2.28B
| $2.35M | ﹤0.01% |
341,900
+9,400
| +3% | +$65K |
|
1572
Seacoast Banking Corp of Florida
SBCF
$3.44B
| $2.34M | ﹤0.01% |
88,700
+9,500
| +12% | +$267K |
|
|
BNFT
1573
DELISTED
Benefitfocus, Inc.
BNFT
| $2.33M | ﹤0.01% |
47,100
+18,900
| +67% | +$966K |
|
1574
IMAX
IMAX
$2.81B
| $2.33M | ﹤0.01% |
102,600
+3,100
| +3% | +$66.2K |
|
1575
JELD-WEN Holding
JELD
$164M
| $2.32M | ﹤0.01% |
131,600
+1,600
| +1% | +$28.8K |
|
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.