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 | |
|---|---|---|---|---|---|---|
176
McCormick & Company Non-Voting
MKC
$14.3B
| $118M | 0.13% |
1,507,886
-96,810
| -6% | -$7.78M |
|
177
Valero Energy
VLO
$90.7B
| $117M | 0.12% |
1,377,973
+16,625
| +1% | +$1.34M |
|
178
Cognizant
CTSH
$26.3B
| $116M | 0.12% |
1,932,786
-244
| -0% | -$15.4K |
|
179
Marriott International
MAR
$90.9B
| $116M | 0.12% |
934,770
-10,874
| -1% | -$1.44M |
|
180
Eaton
ETN
$173B
| $116M | 0.12% |
1,397,300
+16,322
| +1% | +$1.32M |
|
181
eBay
EBAY
$47.9B
| $116M | 0.12% |
2,971,424
-111,667
| -4% | -$4.48M |
|
182
Johnson Controls International
JCI
$91.3B
| $115M | 0.12% |
2,628,518
-7,003
| -0.3% | -$297K |
|
183
Canadian Pacific Kansas City
CP
$79.6B
| $115M | 0.12% |
2,585,000
+4,500
| +0.2% | +$212K |
|
184
Lam Research
LRCX
$383B
| $114M | 0.12% |
4,951,440
-24,020
| -0.5% | -$504K |
|
185
Shopify
SHOP
$200B
| $114M | 0.12% |
3,673,000
+49,000
| +1% | +$1.68M |
|
186
Church & Dwight Co
CHD
$24.5B
| $113M | 0.12% |
1,499,791
-70,825
| -5% | -$5.36M |
|
187
O'Reilly Automotive
ORLY
$75.3B
| $110M | 0.12% |
4,142,445
+130,965
| +3% | +$3.38M |
|
188
HCA Healthcare
HCA
$89.6B
| $109M | 0.12% |
904,376
+10,554
| +1% | +$1.36M |
|
189
Nutrien
NTR
$31.6B
| $108M | 0.11% |
2,162,352
-58,500
| -3% | -$2.99M |
|
190
Autodesk
ADSK
$54.1B
| $107M | 0.11% |
727,089
+12,990
| +2% | +$2.02M |
|
191
Essex Property Trust
ESS
$18.2B
| $107M | 0.11% |
328,192
-3,360
| -1% | -$1.05M |
|
192
Entergy
ETR
$49.3B
| $107M | 0.11% |
1,817,096
-10,748
| -0.6% | -$588K |
|
193
T-Mobile US
TMUS
$191B
| $107M | 0.11% |
1,353,500
+7,276
| +0.5% | +$570K |
|
194
Arch Capital
ACGL
$33.5B
| $106M | 0.11% |
2,524,423
-50,081
| -2% | -$1.97M |
|
195
Tesla
TSLA
$1.31T
| $104M | 0.11% |
6,486,795
+152,520
| +2% | +$2.39M |
|
196
TE Connectivity
TEL
$62B
| $104M | 0.11% |
1,112,430
+7,721
| +0.7% | +$710K |
|
197
Public Service Enterprise Group
PEG
$37.2B
| $104M | 0.11% |
1,669,221
+20,844
| +1% | +$1.24M |
|
198
Ameren
AEE
$29.6B
| $104M | 0.11% |
1,293,262
-13,731
| -1% | -$1.05M |
|
199
Broadridge
BR
$19.8B
| $103M | 0.11% |
823,789
-18,711
| -2% | -$2.41M |
|
200
DTE Energy
DTE
$28.5B
| $101M | 0.11% |
895,873
+53,604
| +6% | +$5.92M |
|
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.