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 |
Verizon
VZ
|
+$91.5M |
| 2 |
VRN
Veren
VRN
|
+$44.4M |
| 3 |
Perrigo
PRGO
|
+$25.6M |
| 4 |
VER
VEREIT, Inc.
VER
|
+$7.63M |
| 5 |
Liberty Global Class C
LBTYK
|
+$6.77M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$51.2M |
| 2 |
COLE
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
|
+$43.4M |
| 3 |
ExxonMobil
XOM
|
+$41.4M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$27.7M |
| 5 |
Microsoft
MSFT
|
+$27.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.36% |
| 2 | Technology | 13.06% |
| 3 | Energy | 11.79% |
| 4 | Industrials | 11.18% |
| 5 | Consumer Staples | 10.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Norfolk Southern
NSC
$75.4B
| $29.1M | 0.11% |
299,347
-33,500
| -10% | -$3.11M |
|
202
Cameco
CCJ
$42.5B
| $29M | 0.11% |
1,262,800
-11,700
| -0.9% | -$261K |
|
|
ALXN
203
DELISTED
Alexion Pharmaceuticals
ALXN
| $28.9M | 0.11% |
190,017
-18,400
| -9% | -$2.93M |
|
204
Elevance Health
ELV
$86.3B
| $28.5M | 0.11% |
286,341
-32,300
| -10% | -$2.92M |
|
205
Aflac
AFL
$61.5B
| $28.5M | 0.11% |
903,590
-87,600
| -9% | -$2.78M |
|
206
CSX Corp
CSX
$93B
| $28.5M | 0.11% |
2,947,560
-309,600
| -10% | -$2.87M |
|
|
BHI
207
DELISTED
Baker Hughes
BHI
| $27.9M | 0.11% |
429,628
-42,500
| -9% | -$2.51M |
|
208
Exelon
EXC
$46B
| $27.9M | 0.11% |
1,164,543
-115,104
| -9% | -$2.42M |
|
209
Valero Energy
VLO
$90.4B
| $27.8M | 0.11% |
522,948
-54,200
| -9% | -$2.78M |
|
210
Archer Daniels Midland
ADM
$38.4B
| $27.7M | 0.11% |
637,704
-64,800
| -9% | -$2.67M |
|
211
Williams Companies
WMB
$87.2B
| $26.9M | 0.11% |
662,441
-65,600
| -9% | -$2.66M |
|
212
W.R. Berkley
WRB
$26.3B
| $26.7M | 0.1% |
2,165,900
+18,900
| +0.9% | +$228K |
|
|
AET
213
DELISTED
Aetna Inc
AET
| $26.7M | 0.1% |
356,238
-40,300
| -10% | -$2.85M |
|
214
Fidelity National Information Services
FIS
$21.9B
| $26.7M | 0.1% |
499,613
-24,000
| -5% | -$1.28M |
|
215
PPG Industries
PPG
$25.8B
| $26.6M | 0.1% |
275,260
-29,400
| -10% | -$2.79M |
|
|
MRSH
216
Marsh
MRSH
$91B
| $26.2M | 0.1% |
531,963
-53,700
| -9% | -$2.57M |
|
|
THI
217
DELISTED
TIM HORTONS INC COM, CANADA
THI
| $26.1M | 0.1% |
470,500
-16,100
| -3% | -$870K |
|
|
TSS
218
DELISTED
Total System Services, Inc.
TSS
| $25.9M | 0.1% |
851,118
+7,200
| +0.9% | +$221K |
|
219
Cummins
CMI
$88B
| $25.7M | 0.1% |
172,519
-17,000
| -9% | -$2.36M |
|
220
Marathon Petroleum
MPC
$88.6B
| $25.4M | 0.1% |
583,696
-83,600
| -13% | -$3.66M |
|
221
Northrop Grumman
NOC
$82.3B
| $25.2M | 0.1% |
204,384
-28,700
| -12% | -$3.4M |
|
222
Micron Technology
MU
$995B
| $25.2M | 0.1% |
1,063,603
-96,500
| -8% | -$2.29M |
|
|
PXD
223
DELISTED
Pioneer Natural Resource Co.
PXD
| $25.1M | 0.1% |
134,352
-13,300
| -9% | -$2.43M |
|
|
224
Perrigo
PRGO
$1.74B
| $25.1M | 0.1% |
+162,162
| New | +$25.6M |
|
225
Devon Energy
DVN
$49.7B
| $25M | 0.1% |
373,826
-37,200
| -9% | -$2.31M |
|
Similar funds
Swiss National Bank's Q1 2014 Portfolio in Review
As of Q1 2014, Swiss National Bank held 2,515 positions worth $25.5B, down 0.58% from $25.6B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Trading was light in Q1 2014: portfolio turnover was 1.2%. Swiss National Bank opened 8 new positions and exited 21, leaving the 2,515-position portfolio largely intact.
By sector, the portfolio is most concentrated in Healthcare at 13% of assets, up from 13% a quarter earlier, followed by Technology and Energy.
- Swiss National Bank's largest Q1 2014 buy was Veren: 1,374,746 shares worth $46M.
- Swiss National Bank added most to Verizon in Q1 2014, an estimated $91.5M increase.
- Swiss National Bank's biggest Q1 2014 reduction was Apple, cutting an estimated $51.2M.
- Swiss National Bank fully exited COLE REAL ESTATE INVESTMENTS, INC COM in Q1 2014, selling an estimated $43.4M.
- Swiss National Bank's ten largest holdings make up 13% of its $25.5B portfolio in Q1 2014.
- Swiss National Bank opened 8 new positions and closed 21 in Q1 2014.
- Swiss National Bank's portfolio value fell 0.58% quarter-over-quarter to $25.5B.
Based on Swiss National Bank's 13F filing for Q1 2014, filed 6 May 2014.