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 |
Amphenol
APH
|
+$42.3M |
| 2 |
United Parcel Service
UPS
|
+$34.7M |
| 3 |
Lumen
LUMN
|
+$28.1M |
| 4 |
Invitation Homes
INVH
|
+$26.7M |
| 5 |
Progressive
PGR
|
+$25.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BCR
CR Bard Inc.
BCR
|
+$90.4M |
| 2 |
Dell
DELL
|
+$67.6M |
| 3 |
LVLT
Level 3 Communications Inc
LVLT
|
+$64.9M |
| 4 |
AT&T
T
|
+$36.5M |
| 5 |
Automatic Data Processing
ADP
|
+$35.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.06% |
| 2 | Healthcare | 14.62% |
| 3 | Consumer Discretionary | 11.07% |
| 4 | Industrials | 10.59% |
| 5 | Communication Services | 10.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Exelon
EXC
$47B
| $140M | 0.15% |
4,965,646
+181,139
| +4% | +$5.21M |
|
152
Vertex Pharmaceuticals
VRTX
$126B
| $139M | 0.15% |
929,009
+10,800
| +1% | +$1.6M |
|
153
LyondellBasell Industries
LYB
$19.2B
| $137M | 0.15% |
1,242,074
-19,200
| -2% | -$1.99M |
|
154
Ecolab
ECL
$79.9B
| $136M | 0.15% |
1,014,642
-200
| -0% | -$26.6K |
|
155
Franco-Nevada
FNV
$46B
| $135M | 0.15% |
1,692,600
+64,900
| +4% | +$5.21M |
|
156
Ross Stores
ROST
$81.9B
| $134M | 0.15% |
1,675,692
+700
| +0% | +$49K |
|
|
TFCFA
157
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $134M | 0.14% |
3,882,099
+4,800
| +0.1% | +$143K |
|
158
Kinder Morgan
KMI
$68.7B
| $134M | 0.14% |
7,412,269
+9,400
| +0.1% | +$169K |
|
159
Aflac
AFL
$62.6B
| $133M | 0.14% |
3,024,190
+92,200
| +3% | +$3.94M |
|
160
Air Products & Chemicals
APD
$67.6B
| $132M | 0.14% |
803,306
+1,200
| +0.1% | +$191K |
|
161
Johnson Controls International
JCI
$92.2B
| $131M | 0.14% |
3,439,121
-17,800
| -0.5% | -$695K |
|
162
Sysco
SYY
$40.3B
| $130M | 0.14% |
2,147,940
-13,000
| -0.6% | -$737K |
|
163
HP
HPQ
$27.5B
| $130M | 0.14% |
6,208,592
| – | – |
|
164
Republic Services
RSG
$65.7B
| $130M | 0.14% |
1,923,748
+42,100
| +2% | +$2.71M |
|
165
Zoetis
ZTS
$30B
| $130M | 0.14% |
1,803,680
-5,600
| -0.3% | -$385K |
|
166
Eaton
ETN
$174B
| $130M | 0.14% |
1,642,178
-7,800
| -0.5% | -$606K |
|
167
Baidu
BIDU
$37.2B
| $128M | 0.14% |
548,156
-4,133
| -0.7% | -$1.01M |
|
168
Paychex
PAYX
$42.7B
| $128M | 0.14% |
1,882,803
+29,500
| +2% | +$1.94M |
|
169
Sherwin-Williams
SHW
$89.8B
| $127M | 0.14% |
930,183
+3,600
| +0.4% | +$473K |
|
170
Prologis
PLD
$133B
| $127M | 0.14% |
1,961,060
+6,100
| +0.3% | +$398K |
|
171
Target
TGT
$68B
| $125M | 0.14% |
1,917,717
-21,600
| -1% | -$1.3M |
|
172
TE Connectivity
TEL
$62.6B
| $124M | 0.13% |
1,303,009
-5,300
| -0.4% | -$488K |
|
173
Equity Residential
EQR
$25.1B
| $123M | 0.13% |
1,934,520
+167,700
| +9% | +$11.2M |
|
174
Marathon Petroleum
MPC
$83.7B
| $123M | 0.13% |
1,867,696
-51,300
| -3% | -$3.14M |
|
175
McKesson
MCK
$101B
| $121M | 0.13% |
775,891
-2,100
| -0.3% | -$311K |
|
Similar funds
Swiss National Bank's Q4 2017 Portfolio in Review
As of Q4 2017, Swiss National Bank held 2,605 positions worth $92.6B, up 5.4% from $87.8B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Swiss National Bank's Q4 2017 filing shows 77 new, 1,182 increased, 249 reduced and 91 closed positions. Its largest new stake was Invitation Homes: 1,152,016 shares worth $27.2M. The largest sale was CR Bard Inc., an estimated $90.4M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q4 2017 buy was Invitation Homes: 1,152,016 shares worth $27.2M.
- Swiss National Bank added most to Amphenol in Q4 2017, an estimated $42.3M increase.
- Swiss National Bank's biggest Q4 2017 reduction was Dell, cutting an estimated $67.6M.
- Swiss National Bank fully exited CR Bard Inc. in Q4 2017, selling an estimated $90.4M.
- Swiss National Bank's ten largest holdings make up 17% of its $92.6B portfolio in Q4 2017.
- Swiss National Bank opened 77 new positions and closed 91 in Q4 2017.
- Swiss National Bank's portfolio value rose 5.4% quarter-over-quarter to $92.6B.
Based on Swiss National Bank's 13F filing for Q4 2017, filed 7 Feb 2018.