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 |
Apple
AAPL
|
+$107M |
| 2 |
AT&T
T
|
+$86.3M |
| 3 |
PayPal
PYPL
|
+$82.6M |
| 4 |
Kraft Heinz
KHC
|
+$80.2M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$67.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KRFT
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
|
+$80.8M |
| 2 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$73.8M |
| 3 |
eBay
EBAY
|
+$73.2M |
| 4 |
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
|
+$50.9M |
| 5 |
FDO
FAMILY DOLLAR STORES
FDO
|
+$27.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 15.62% |
| 2 | Technology | 14.37% |
| 3 | Industrials | 10.62% |
| 4 | Consumer Discretionary | 10.32% |
| 5 | Consumer Staples | 9.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SPTN
1601
DELISTED
SpartanNash
SPTN
| $1.28M | ﹤0.01% |
49,380
+6,400
| +15% | +$194K |
|
|
VSI
1602
DELISTED
Vitamin Shoppe Inc.
VSI
| $1.27M | ﹤0.01% |
39,000
+4,900
| +14% | +$175K |
|
|
FCH
1603
DELISTED
Felcor Lodging Trust
FCH
| $1.27M | ﹤0.01% |
180,000
+24,800
| +16% | +$220K |
|
1604
Pan American Silver
PAAS
$19.9B
| $1.27M | ﹤0.01% |
200,600
+25,400
| +14% | +$174K |
|
1605
Rogers Corp
ROG
$2.46B
| $1.27M | ﹤0.01% |
23,900
+3,300
| +16% | +$186K |
|
|
DDC
1606
DELISTED
Dominion Diamond Corporation
DDC
| $1.27M | ﹤0.01% |
119,300
+14,200
| +14% | +$171K |
|
|
RKUS
1607
DELISTED
RUCKUS WIRELESS INC COM STK (DE)
RKUS
| $1.27M | ﹤0.01% |
106,700
+14,800
| +16% | +$166K |
|
1608
Clearwater Paper
CLW
$354M
| $1.27M | ﹤0.01% |
26,800
+3,200
| +14% | +$172K |
|
|
BEL
1609
DELISTED
Belmond Ltd.
BEL
| $1.27M | ﹤0.01% |
125,200
+16,300
| +15% | +$187K |
|
|
TBI
1610
Trueblue
TBI
$309M
| $1.26M | ﹤0.01% |
56,300
+7,300
| +15% | +$187K |
|
|
REMY
1611
DELISTED
REMY INTL INC NEW COMMON
REMY
| $1.26M | ﹤0.01% |
43,259
+9,900
| +30% | +$282K |
|
|
TIVO
1612
DELISTED
Tivo Inc
TIVO
| $1.26M | ﹤0.01% |
120,200
+11,000
| +10% | +$133K |
|
|
STAY
1613
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $1.26M | ﹤0.01% |
75,100
+10,800
| +17% | +$198K |
|
|
ADPT
1614
DELISTED
Adeptus Health Inc
ADPT
| $1.26M | ﹤0.01% |
15,600
+5,400
| +53% | +$557K |
|
|
TFM
1615
DELISTED
THE FRESH MARKET, INC COM STK
TFM
| $1.26M | ﹤0.01% |
55,700
+7,400
| +15% | +$201K |
|
1616
Kirby Corp
KEX
$7.26B
| $1.25M | ﹤0.01% |
20,257
+357
| +2% | +$25.2K |
|
|
ALOG
1617
DELISTED
Analogic Corp
ALOG
| $1.25M | ﹤0.01% |
15,300
+2,100
| +16% | +$170K |
|
|
FNFV
1618
DELISTED
Fidelity Natl Financial, Inc.
FNFV
| $1.25M | ﹤0.01% |
106,794
+11,900
| +13% | +$173K |
|
|
NMBL
1619
DELISTED
Nimble Storage, Inc.
NMBL
| $1.25M | ﹤0.01% |
51,900
+13,400
| +35% | +$349K |
|
|
CSR
1620
Centerspace
CSR
$939M
| $1.25M | ﹤0.01% |
16,150
+2,260
| +16% | +$162K |
|
|
AAV
1621
DELISTED
Advantage Oil & Gas Ltd
AAV
| $1.25M | ﹤0.01% |
240,000
+31,800
| +15% | +$176K |
|
1622
Tennant Co
TNC
$1.15B
| $1.25M | ﹤0.01% |
22,200
+2,900
| +15% | +$172K |
|
|
IMGN
1623
DELISTED
Immunogen Inc
IMGN
| $1.25M | ﹤0.01% |
129,700
+14,500
| +13% | +$212K |
|
|
CCMP
1624
DELISTED
CMC Materials, Inc. Common Stock
CCMP
| $1.24M | ﹤0.01% |
32,100
+4,700
| +17% | +$205K |
|
|
ISEE
1625
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
| $1.24M | ﹤0.01% |
30,688
+4,400
| +17% | +$233K |
|
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Swiss National Bank's Q3 2015 Portfolio in Review
As of Q3 2015, Swiss National Bank held 2,599 positions worth $39B, up 0.96% from $38.6B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Swiss National Bank deployed $3.52B of net new capital in Q3 2015, opening 19 new positions and adding to 2,500 existing holdings. Its largest new stake was PayPal: 2,306,091 shares worth $71.6M.
By sector, the portfolio is most concentrated in Healthcare at 16% of assets, down from 16% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was eBay, an estimated $73.2M trimmed.
- Swiss National Bank's largest Q3 2015 buy was PayPal: 2,306,091 shares worth $71.6M.
- Swiss National Bank added most to Apple in Q3 2015, an estimated $107M increase.
- Swiss National Bank's biggest Q3 2015 reduction was eBay, cutting an estimated $73.2M.
- Swiss National Bank fully exited KRAFT FOODS GROUP INC COM STK (VA) in Q3 2015, selling an estimated $80.8M.
- Swiss National Bank's ten largest holdings make up 15% of its $39B portfolio in Q3 2015.
- Swiss National Bank opened 19 new positions and closed 31 in Q3 2015.
- Swiss National Bank's portfolio value rose 0.96% quarter-over-quarter to $39B.
Based on Swiss National Bank's 13F filing for Q3 2015, filed 4 Nov 2015.