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 |
Bristol-Myers Squibb
BMY
|
+$114M |
| 2 |
BKI
Black Knight, Inc. Common Stock
BKI
|
+$31.3M |
| 3 |
PARA
Paramount Global Class B
PARA
|
+$26.4M |
| 4 |
Tyler Technologies
TYL
|
+$25M |
| 5 |
Brown & Brown
BRO
|
+$18.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$249M |
| 2 |
CELG
Celgene Corp
CELG
|
+$231M |
| 3 |
Microsoft
MSFT
|
+$171M |
| 4 |
Alibaba
BABA
|
+$140M |
| 5 |
Amazon
AMZN
|
+$99.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.49% |
| 2 | Healthcare | 14.66% |
| 3 | Consumer Discretionary | 11.66% |
| 4 | Communication Services | 10.19% |
| 5 | Industrials | 9.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Valero Energy
VLO
$90.7B
| $122M | 0.13% |
1,306,773
-71,200
| -5% | -$6.73M |
|
177
Eversource Energy
ES
$26.8B
| $121M | 0.12% |
1,427,869
-21,000
| -1% | -$1.75M |
|
178
Occidental Petroleum
OXY
$58.6B
| $121M | 0.12% |
2,940,451
-201,400
| -6% | -$8.07M |
|
179
Prudential Financial
PRU
$42.1B
| $119M | 0.12% |
1,267,654
-73,200
| -5% | -$6.72M |
|
180
FedEx
FDX
$76.9B
| $118M | 0.12% |
781,449
-36,000
| -4% | -$5.55M |
|
181
Travelers Companies
TRV
$78.3B
| $117M | 0.12% |
856,997
-41,900
| -5% | -$5.7M |
|
182
Roper Technologies
ROP
$39.9B
| $116M | 0.12% |
327,862
-15,000
| -4% | -$5.18M |
|
183
Realty Income
O
$58.6B
| $115M | 0.12% |
1,612,470
-32,921
| -2% | -$2.45M |
|
184
Ford
F
$55.8B
| $115M | 0.12% |
12,357,578
-583,500
| -5% | -$5.25M |
|
185
O'Reilly Automotive
ORLY
$75.3B
| $114M | 0.12% |
3,885,945
-256,500
| -6% | -$7.34M |
|
186
Agnico Eagle Mines
AEM
$91.4B
| $112M | 0.11% |
1,813,053
-15,700
| -0.9% | -$912K |
|
187
Cognizant
CTSH
$26.3B
| $111M | 0.11% |
1,795,786
-137,000
| -7% | -$8.47M |
|
188
Entergy
ETR
$49.3B
| $109M | 0.11% |
1,826,296
+9,200
| +0.5% | +$542K |
|
189
Arch Capital
ACGL
$33.5B
| $107M | 0.11% |
2,488,423
-36,000
| -1% | -$1.49M |
|
190
VF Corp
VFC
$5.86B
| $106M | 0.11% |
1,067,226
-47,600
| -4% | -$4.27M |
|
|
WCN
191
Waste Connections
WCN
$41.9B
| $105M | 0.11% |
1,157,083
+127,167
| +12% | +$11.5M |
|
192
Church & Dwight Co
CHD
$24.5B
| $104M | 0.11% |
1,477,891
-21,900
| -1% | -$1.56M |
|
193
T-Mobile US
TMUS
$191B
| $102M | 0.11% |
1,306,400
-47,100
| -3% | -$3.71M |
|
194
Johnson Controls International
JCI
$91.3B
| $102M | 0.1% |
2,508,918
-119,600
| -5% | -$5.05M |
|
195
Wheaton Precious Metals
WPM
$60.6B
| $102M | 0.1% |
3,418,200
-50,500
| -1% | -$1.38M |
|
196
TE Connectivity
TEL
$62B
| $102M | 0.1% |
1,059,130
-53,300
| -5% | -$4.94M |
|
197
Trane Technologies
TT
$105B
| $101M | 0.1% |
761,854
-34,500
| -4% | -$4.37M |
|
198
Constellation Brands
STZ
$22.8B
| $100M | 0.1% |
527,357
-56,600
| -10% | -$10.7M |
|
|
EA
199
DELISTED
Electronic Arts
EA
| $99.9M | 0.1% |
929,215
-52,500
| -5% | -$5.21M |
|
200
Broadridge
BR
$19.8B
| $99.8M | 0.1% |
808,189
-15,600
| -2% | -$1.91M |
|
Similar funds
Swiss National Bank's Q4 2019 Portfolio in Review
As of Q4 2019, Swiss National Bank held 2,602 positions worth $97.5B, up 3.6% from $94.1B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Swiss National Bank withdrew a net $3.98B in Q4 2019, closing 96 positions and reducing 725 holdings. Its most notable exit was Celgene Corp, an estimated $231M position sold in full.
By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Match Group worth $14.7M.
- Swiss National Bank's largest Q4 2019 buy was Match Group: 179,200 shares worth $14.7M.
- Swiss National Bank added most to Bristol-Myers Squibb in Q4 2019, an estimated $114M increase.
- Swiss National Bank's biggest Q4 2019 reduction was Apple, cutting an estimated $249M.
- Swiss National Bank fully exited Celgene Corp in Q4 2019, selling an estimated $231M.
- Swiss National Bank's ten largest holdings make up 19% of its $97.5B portfolio in Q4 2019.
- Swiss National Bank opened 82 new positions and closed 96 in Q4 2019.
- Swiss National Bank's portfolio value rose 3.6% quarter-over-quarter to $97.5B.
Based on Swiss National Bank's 13F filing for Q4 2019, filed 6 Feb 2020.