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 |
Alibaba
BABA
|
+$221M |
| 2 |
Fidelity National Information Services
FIS
|
+$129M |
| 3 |
Global Payments
GPN
|
+$77.2M |
| 4 |
L3Harris
LHX
|
+$70.9M |
| 5 |
FISV
Fiserv Inc
FISV
|
+$41.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WP
Worldpay, Inc.
WP
|
+$123M |
| 2 |
RHT
Red Hat Inc
RHT
|
+$118M |
| 3 |
APC
Anadarko Petroleum
APC
|
+$115M |
| 4 |
TSS
Total System Services, Inc.
TSS
|
+$70.3M |
| 5 |
LLL
L3 Technologies, Inc.
LLL
|
+$63.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.35% |
| 2 | Healthcare | 14% |
| 3 | Consumer Discretionary | 12.02% |
| 4 | Communication Services | 10.18% |
| 5 | Industrials | 9.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Republic Services
RSG
$65.7B
| $142M | 0.15% |
1,636,247
-41,401
| -2% | -$3.64M |
|
152
Occidental Petroleum
OXY
$58.6B
| $140M | 0.15% |
3,141,851
+515,408
| +20% | +$24.4M |
|
153
Kinder Morgan
KMI
$69.9B
| $139M | 0.15% |
6,728,233
+86,564
| +1% | +$1.78M |
|
154
Analog Devices
ADI
$187B
| $136M | 0.15% |
1,221,197
+19,349
| +2% | +$2.19M |
|
155
Emerson Electric
EMR
$88.5B
| $136M | 0.14% |
2,029,621
+25,948
| +1% | +$1.63M |
|
156
Humana
HUM
$46.3B
| $135M | 0.14% |
526,712
-3,114
| -0.6% | -$873K |
|
157
Aflac
AFL
$61.2B
| $135M | 0.14% |
2,570,775
+9,885
| +0.4% | +$522K |
|
|
ATVI
158
DELISTED
Activision Blizzard
ATVI
| $134M | 0.14% |
2,529,520
+39,486
| +2% | +$1.97M |
|
159
Sempra
SRE
$55.1B
| $134M | 0.14% |
1,812,296
+25,096
| +1% | +$1.76M |
|
160
Travelers Companies
TRV
$78.3B
| $134M | 0.14% |
898,897
+3,381
| +0.4% | +$503K |
|
161
Manulife Financial
MFC
$73.3B
| $134M | 0.14% |
7,278,200
+41,100
| +0.6% | +$726K |
|
162
Marathon Petroleum
MPC
$90B
| $133M | 0.14% |
2,188,511
-7,471
| -0.3% | -$394K |
|
163
Franco-Nevada
FNV
$46.5B
| $133M | 0.14% |
1,457,000
-15,300
| -1% | -$1.4M |
|
164
Clorox
CLX
$13B
| $132M | 0.14% |
869,187
-22,405
| -3% | -$3.54M |
|
165
MetLife
MET
$61.7B
| $126M | 0.13% |
2,667,776
+15,240
| +0.6% | +$727K |
|
166
Eversource Energy
ES
$26.8B
| $124M | 0.13% |
1,448,869
-7,788
| -0.5% | -$619K |
|
167
Roper Technologies
ROP
$39.9B
| $122M | 0.13% |
342,862
+5,004
| +1% | +$1.82M |
|
168
Realty Income
O
$58.6B
| $122M | 0.13% |
1,645,391
+24,532
| +2% | +$1.72M |
|
169
Constellation Brands
STZ
$22.8B
| $121M | 0.13% |
583,957
-47,659
| -8% | -$9.57M |
|
170
Prudential Financial
PRU
$42.1B
| $121M | 0.13% |
1,340,854
+7,567
| +0.6% | +$686K |
|
171
FedEx
FDX
$76.9B
| $119M | 0.13% |
817,449
+8,981
| +1% | +$1.45M |
|
172
Ford
F
$55.8B
| $119M | 0.13% |
12,941,078
+201,943
| +2% | +$1.92M |
|
173
AutoZone
AZO
$50.1B
| $118M | 0.13% |
108,673
-1,618
| -1% | -$1.81M |
|
174
Canadian Natural Resources
CNQ
$97.4B
| $118M | 0.13% |
9,042,589
-7,555
| -0.1% | -$93.6K |
|
175
Dow Inc
DOW
$22.1B
| $118M | 0.13% |
2,473,055
-20,989
| -0.8% | -$983K |
|
Similar funds
Swiss National Bank's Q3 2019 Portfolio in Review
As of Q3 2019, Swiss National Bank held 2,556 positions worth $94.1B, up 1.5% from $92.7B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Trading was light in Q3 2019: portfolio turnover was 1.5%. Swiss National Bank opened 2 new positions and exited 36, leaving the 2,556-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2019 buy was Valaris plc Class A Ordinary Share: 369,509 shares worth $1.78M.
- Swiss National Bank added most to Alibaba in Q3 2019, an estimated $221M increase.
- Swiss National Bank's biggest Q3 2019 reduction was Apple, cutting an estimated $39.3M.
- Swiss National Bank fully exited Worldpay, Inc. in Q3 2019, selling an estimated $123M.
- Swiss National Bank's ten largest holdings make up 19% of its $94.1B portfolio in Q3 2019.
- Swiss National Bank opened 2 new positions and closed 36 in Q3 2019.
- Swiss National Bank's portfolio value rose 1.5% quarter-over-quarter to $94.1B.
Based on Swiss National Bank's 13F filing for Q3 2019, filed 12 Nov 2019.