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 | |
|---|---|---|---|---|---|---|
1576
Merit Medical Systems
MMSI
$5.4B
| $1.8M | ﹤0.01% |
74,200
-2,600
| -3% | -$60.1K |
|
|
MSGN
1577
DELISTED
MSG Networks Inc.
MSGN
| $1.8M | ﹤0.01% |
96,800
-3,600
| -4% | -$60.9K |
|
1578
Wayfair
W
$13.9B
| $1.79M | ﹤0.01% |
45,600
| – | – |
|
1579
Agree Realty
ADC
$9.34B
| $1.79M | ﹤0.01% |
36,282
-1,200
| -3% | -$58.5K |
|
1580
Comfort Systems
FIX
$60.8B
| $1.79M | ﹤0.01% |
61,200
-1,900
| -3% | -$56.5K |
|
1581
Gentherm
THRM
$1.32B
| $1.79M | ﹤0.01% |
57,000
-2,100
| -4% | -$69.4K |
|
|
DNR
1582
DELISTED
Denbury Resources, Inc.
DNR
| $1.79M | ﹤0.01% |
554,600
-23,900
| -4% | -$73.1K |
|
|
IRBT
1583
DELISTED
iRobot
IRBT
| $1.79M | ﹤0.01% |
40,700
-3,400
| -8% | -$133K |
|
|
BPFH
1584
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
| $1.79M | ﹤0.01% |
139,400
-10,400
| -7% | -$129K |
|
1585
AMERISAFE
AMSF
$504M
| $1.79M | ﹤0.01% |
30,400
-900
| -3% | -$53.5K |
|
|
RWT
1586
Redwood Trust
RWT
$599M
| $1.79M | ﹤0.01% |
126,100
-5,100
| -4% | -$72.6K |
|
|
OSB
1587
DELISTED
Norbord Inc.
OSB
| $1.79M | ﹤0.01% |
69,528
-900
| -1% | -$21.4K |
|
|
AKS
1588
DELISTED
AK Steel Holding Corp
AKS
| $1.78M | ﹤0.01% |
368,900
| – | – |
|
|
CALD
1589
DELISTED
Callidus Software, Inc.
CALD
| $1.78M | ﹤0.01% |
97,100
+9,800
| +11% | +$192K |
|
1590
Caleres
CAL
$461M
| $1.78M | ﹤0.01% |
70,300
-2,700
| -4% | -$68.7K |
|
|
TGE
1591
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
| $1.77M | ﹤0.01% |
73,800
-4,100
| -5% | -$97.9K |
|
1592
Abercrombie & Fitch
ANF
$4.84B
| $1.76M | ﹤0.01% |
110,900
-3,600
| -3% | -$69.5K |
|
1593
RPC Inc
RES
$1.39B
| $1.76M | ﹤0.01% |
104,800
-3,200
| -3% | -$48.6K |
|
|
CYBR
1594
DELISTED
CyberArk
CYBR
| $1.76M | ﹤0.01% |
35,500
| – | – |
|
|
CALY
1595
Callaway Golf Company
CALY
$2.95B
| $1.76M | ﹤0.01% |
151,600
| – | – |
|
1596
Universal Electronics
UEIC
$66.6M
| $1.76M | ﹤0.01% |
23,624
-800
| -3% | -$60.2K |
|
1597
TherapeuticsMD
TXMD
$24.1M
| $1.76M | ﹤0.01% |
5,160
-190
| -4% | -$69.4K |
|
1598
Korn Ferry
KFY
$4.36B
| $1.75M | ﹤0.01% |
83,500
+4,300
| +5% | +$98K |
|
1599
Emergent Biosolutions
EBS
$230M
| $1.75M | ﹤0.01% |
55,600
-3,600
| -6% | -$105K |
|
1600
AAR Corp
AIR
$5.77B
| $1.75M | ﹤0.01% |
55,800
-1,900
| -3% | -$48.3K |
|
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.