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 |
Alphabet (Google) Class C
GOOG
|
+$33M |
| 2 |
UnitedHealth
UNH
|
+$31.5M |
| 3 |
B
Barrick Mining
B
|
+$28.5M |
| 4 |
Cencora
COR
|
+$27.1M |
| 5 |
Union Pacific
UNP
|
+$25.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FRX
FOREST LABORATORIES INC
FRX
|
+$75M |
| 2 |
SE
Spectra Energy Corp Wi
SE
|
+$32.5M |
| 3 |
Verisk Analytics
VRSK
|
+$31.9M |
| 4 |
AGN
Allergan Inc
AGN
|
+$28.6M |
| 5 |
AGN
Allergan plc
AGN
|
+$26.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 13.18% |
| 2 | Healthcare | 13.12% |
| 3 | Energy | 12.36% |
| 4 | Industrials | 10.88% |
| 5 | Consumer Staples | 9.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Dollar General
DG
$27.9B
| $44.3M | 0.16% |
771,625
+18,300
| +2% | +$1.05M |
|
152
WEC Energy
WEC
$35.1B
| $44.2M | 0.16% |
942,296
+7,200
| +0.8% | +$334K |
|
153
Motorola Solutions
MSI
$77.4B
| $43.9M | 0.16% |
659,278
+378,200
| +135% | +$24.9M |
|
154
FedEx
FDX
$75.4B
| $43.8M | 0.16% |
289,068
-2,500
| -0.9% | -$349K |
|
155
Lockheed Martin
LMT
$136B
| $42.8M | 0.16% |
266,274
+2,400
| +0.9% | +$390K |
|
156
Pembina Pipeline
PBA
$27.6B
| $42.7M | 0.16% |
992,600
-380,350
| -28% | -$15.2M |
|
|
AGN
157
DELISTED
Allergan plc
AGN
| $42M | 0.16% |
188,381
-129,800
| -41% | -$26.9M |
|
|
DTV
158
DELISTED
DIRECTV COM STK (DE)
DTV
| $41.9M | 0.16% |
493,087
-5,900
| -1% | -$481K |
|
159
Thomson Reuters
TRI
$44.1B
| $41.7M | 0.15% |
986,850
-38,001
| -4% | -$1.55M |
|
160
Prudential Financial
PRU
$41.8B
| $41.6M | 0.15% |
468,987
+22,100
| +5% | +$1.86M |
|
|
AGU
161
DELISTED
Agrium
AGU
| $41M | 0.15% |
448,243
-13,200
| -3% | -$1.22M |
|
|
BCR
162
DELISTED
CR Bard Inc.
BCR
| $40.5M | 0.15% |
283,161
+5,700
| +2% | +$814K |
|
163
Teck Resources
TECK
$32.6B
| $40.1M | 0.15% |
1,758,379
-51,900
| -3% | -$1.16M |
|
164
APA Corp
APA
$13.2B
| $40M | 0.15% |
397,832
+700
| +0.2% | +$63.4K |
|
165
Synopsys
SNPS
$79.7B
| $40M | 0.15% |
1,030,336
-1,100
| -0.1% | -$42K |
|
|
TWC
166
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $39.8M | 0.15% |
270,389
-2,800
| -1% | -$393K |
|
|
COV
167
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| $39.6M | 0.15% |
439,282
+800
| +0.2% | +$59.9K |
|
168
Williams Companies
WMB
$86.1B
| $39.5M | 0.15% |
679,041
+16,600
| +3% | +$769K |
|
169
EQT Corp
EQT
$32.3B
| $39.4M | 0.15% |
677,001
+408,733
| +152% | +$23.4M |
|
170
Ventas
VTR
$47.9B
| $38.9M | 0.14% |
531,176
+180,832
| +52% | +$13.4M |
|
171
Equity Residential
EQR
$25.1B
| $38.3M | 0.14% |
608,720
+4,900
| +0.8% | +$298K |
|
172
Baxter International
BAX
$14.2B
| $38.3M | 0.14% |
974,535
+6,075
| +0.6% | +$243K |
|
173
Range Resources
RRC
$8.95B
| $36.6M | 0.14% |
420,629
+262,200
| +166% | +$23.5M |
|
174
J.M. Smucker
SJM
$12.8B
| $36.5M | 0.14% |
342,799
+1,300
| +0.4% | +$131K |
|
175
Micron Technology
MU
$991B
| $36M | 0.13% |
1,091,603
+28,000
| +3% | +$763K |
|
Similar funds
Swiss National Bank's Q2 2014 Portfolio in Review
As of Q2 2014, Swiss National Bank held 2,604 positions worth $27B, up 6.1% from $25.5B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Swiss National Bank's Q2 2014 filing shows 110 new, 836 increased, 474 reduced and 72 closed positions. Its largest new stake was Antero Resources: 226,100 shares worth $14.8M. The largest sale was FOREST LABORATORIES INC, an estimated $75M.
By sector, the portfolio is most concentrated in Technology at 13% of assets, up from 13% a quarter earlier, followed by Healthcare and Energy.
- Swiss National Bank's largest Q2 2014 buy was Antero Resources: 226,100 shares worth $14.8M.
- Swiss National Bank added most to Alphabet (Google) Class C in Q2 2014, an estimated $33M increase.
- Swiss National Bank's biggest Q2 2014 reduction was FOREST LABORATORIES INC, cutting an estimated $75M.
- Swiss National Bank fully exited Weatherford International plc in Q2 2014, selling an estimated $12.9M.
- Swiss National Bank's ten largest holdings make up 13% of its $27B portfolio in Q2 2014.
- Swiss National Bank opened 110 new positions and closed 72 in Q2 2014.
- Swiss National Bank's portfolio value rose 6.1% quarter-over-quarter to $27B.
Based on Swiss National Bank's 13F filing for Q2 2014, filed 6 Aug 2014.