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 | |
|---|---|---|---|---|---|---|
2126
Mercantile Bank Corp
MBWM
$1.06B
| $890K | ﹤0.01% |
27,200
+800
| +3% | +$26.5K |
|
2127
Expro Ltd
XPRO
$2.1B
| $888K | ﹤0.01% |
23,833
+1,133
| +5% | +$41.3K |
|
|
PSDO
2128
DELISTED
Presidio, Inc. Common Stock
PSDO
| $888K | ﹤0.01% |
60,000
-5,500
| -8% | -$84K |
|
2129
Resources Connection
RGP
$146M
| $887K | ﹤0.01% |
53,600
| – | – |
|
|
NGD
2130
DELISTED
New Gold Inc
NGD
| $885K | ﹤0.01% |
1,036,762
| – | – |
|
2131
Myers Industries
MYE
$1.25B
| $883K | ﹤0.01% |
51,600
+2,000
| +4% | +$34K |
|
2132
Forrester Research
FORR
$225M
| $882K | ﹤0.01% |
18,250
+1,000
| +6% | +$46.6K |
|
2133
Prothena Corp
PRTA
$466M
| $881K | ﹤0.01% |
72,600
+2,200
| +3% | +$27.5K |
|
2134
Alaunos Therapeutics
TCRT
$4.88M
| $879K | ﹤0.01% |
1,521
| – | – |
|
2135
Ezcorp Inc
EZPW
$1.76B
| $877K | ﹤0.01% |
94,050
+4,100
| +5% | +$38.7K |
|
|
CTT
2136
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
| $877K | ﹤0.01% |
89,318
+2,500
| +3% | +$22.9K |
|
|
WAIR
2137
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
| $876K | ﹤0.01% |
99,700
+4,300
| +5% | +$35.4K |
|
2138
First Community Bankshares
FCBC
$928M
| $874K | ﹤0.01% |
26,379
| – | – |
|
2139
Ethan Allen Interiors
ETD
$583M
| $870K | ﹤0.01% |
45,500
| – | – |
|
|
UMH
2140
UMH Properties
UMH
$1.42B
| $870K | ﹤0.01% |
61,800
+2,800
| +5% | +$37.5K |
|
|
RVI
2141
DELISTED
Retail Value Inc. Common Shares
RVI
| $870K | ﹤0.01% |
304,183
+19,621
| +7% | +$55.1K |
|
2142
Zumiez
ZUMZ
$321M
| $869K | ﹤0.01% |
34,900
+1,600
| +5% | +$37.9K |
|
2143
Winmark
WINA
$1.26B
| $868K | ﹤0.01% |
4,600
+200
| +5% | +$32.9K |
|
2144
NVE Corp
NVEC
$563M
| $861K | ﹤0.01% |
8,800
+300
| +4% | +$29K |
|
|
CONN
2145
DELISTED
Conn's Inc.
CONN
| $860K | ﹤0.01% |
37,600
+1,300
| +4% | +$28K |
|
|
RESI
2146
DELISTED
Front Yard Residential Corporation Common Stock
RESI
| $860K | ﹤0.01% |
92,800
+4,700
| +5% | +$49K |
|
2147
PetMed Express
PETS
$43M
| $859K | ﹤0.01% |
37,700
+1,800
| +5% | +$40.6K |
|
2148
Rhythm Pharmaceuticals
RYTM
$7.99B
| $858K | ﹤0.01% |
31,300
+1,100
| +4% | +$31.6K |
|
2149
American Vanguard Corp
AVD
$62.8M
| $857K | ﹤0.01% |
49,751
+1,500
| +3% | +$26.5K |
|
2150
Harmonic Inc
HLIT
$1.42B
| $856K | ﹤0.01% |
158,015
+5,900
| +4% | +$31.3K |
|
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.