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 | |
|---|---|---|---|---|---|---|
151
Kinder Morgan
KMI
$69.9B
| $133M | 0.15% |
6,630,269
+173,700
| +3% | +$3.24M |
|
152
Sysco
SYY
$40.1B
| $132M | 0.14% |
1,977,940
+51,200
| +3% | +$3.33M |
|
153
Applied Materials
AMAT
$415B
| $130M | 0.14% |
3,281,122
+85,600
| +3% | +$3.25M |
|
154
Analog Devices
ADI
$187B
| $130M | 0.14% |
1,235,548
+27,300
| +2% | +$2.74M |
|
155
American International
AIG
$40.7B
| $127M | 0.14% |
2,952,956
+64,700
| +2% | +$2.77M |
|
|
WP
156
DELISTED
Worldpay, Inc.
WP
| $127M | 0.14% |
1,120,118
-85,900
| -7% | -$7.79M |
|
157
Prudential Financial
PRU
$42.1B
| $127M | 0.14% |
1,378,687
+23,100
| +2% | +$2.13M |
|
158
Travelers Companies
TRV
$78.3B
| $126M | 0.14% |
921,616
+15,400
| +2% | +$1.97M |
|
159
Dollar General
DG
$27B
| $126M | 0.14% |
1,054,552
+28,000
| +3% | +$3.26M |
|
160
eBay
EBAY
$47.9B
| $123M | 0.13% |
3,309,891
+5,100
| +0.2% | +$177K |
|
161
Estee Lauder
EL
$31.5B
| $122M | 0.13% |
734,796
+6,200
| +0.9% | +$911K |
|
162
Marriott International
MAR
$90.9B
| $121M | 0.13% |
968,744
+11,100
| +1% | +$1.31M |
|
163
Sherwin-Williams
SHW
$88.1B
| $121M | 0.13% |
843,783
+24,300
| +3% | +$3.38M |
|
164
Constellation Brands
STZ
$22.8B
| $121M | 0.13% |
688,816
-7,400
| -1% | -$1.25M |
|
165
Tesla
TSLA
$1.31T
| $120M | 0.13% |
6,449,775
+211,500
| +3% | +$4.25M |
|
166
Valero Energy
VLO
$90.7B
| $120M | 0.13% |
1,416,248
+26,600
| +2% | +$2.2M |
|
167
Church & Dwight Co
CHD
$24.5B
| $120M | 0.13% |
1,683,516
+48,100
| +3% | +$3.16M |
|
168
HCA Healthcare
HCA
$89.6B
| $120M | 0.13% |
919,122
+18,900
| +2% | +$2.54M |
|
169
MetLife
MET
$61.7B
| $119M | 0.13% |
2,799,936
+51,000
| +2% | +$2.25M |
|
170
Welltower
WELL
$169B
| $118M | 0.13% |
1,522,066
+51,800
| +4% | +$3.89M |
|
171
Roper Technologies
ROP
$39.9B
| $118M | 0.13% |
345,258
+9,400
| +3% | +$2.85M |
|
172
Manulife Financial
MFC
$73.3B
| $118M | 0.13% |
6,951,300
+77,800
| +1% | +$1.27M |
|
173
Eaton
ETN
$173B
| $117M | 0.13% |
1,446,678
+37,800
| +3% | +$2.88M |
|
174
AutoZone
AZO
$50.1B
| $116M | 0.13% |
113,691
+3,600
| +3% | +$3.23M |
|
175
Realty Income
O
$58.6B
| $116M | 0.13% |
1,631,076
+60,578
| +4% | +$4.01M |
|
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.