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 |
Linde
LIN
|
+$303M |
| 2 |
General Dynamics
GD
|
+$147M |
| 3 |
Cigna
CI
|
+$95.5M |
| 4 |
CVS Health
CVS
|
+$85.5M |
| 5 |
Marathon Petroleum
MPC
|
+$52.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$234M |
| 2 |
Northrop Grumman
NOC
|
+$218M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$170M |
| 4 |
PX
Praxair Inc
PX
|
+$168M |
| 5 |
COL
Rockwell Collins
COL
|
+$116M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.9% |
| 2 | Healthcare | 16.26% |
| 3 | Consumer Discretionary | 11.53% |
| 4 | Communication Services | 10.15% |
| 5 | Industrials | 9.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Broadridge
BR
$19.8B
| $81.1M | 0.1% |
842,300
-7,900
| -0.9% | -$855K |
|
202
PPG Industries
PPG
$25.7B
| $80.4M | 0.1% |
786,860
-9,000
| -1% | -$932K |
|
203
Corning
GLW
$136B
| $79.6M | 0.1% |
2,633,312
-17,400
| -0.7% | -$555K |
|
204
Hershey
HSY
$36.7B
| $79.5M | 0.1% |
741,826
+2,600
| +0.4% | +$276K |
|
205
DTE Energy
DTE
$28.5B
| $78.8M | 0.1% |
838,979
+25,027
| +3% | +$2.44M |
|
206
Carnival Corporation Ltd
CCL
$38B
| $78.6M | 0.1% |
1,594,600
+10,700
| +0.7% | +$613K |
|
|
EA
207
DELISTED
Electronic Arts
EA
| $78.2M | 0.1% |
990,955
+11,500
| +1% | +$1.05M |
|
208
VF Corp
VFC
$5.86B
| $78.2M | 0.1% |
1,163,468
+26,869
| +2% | +$2.06M |
|
209
Centene
CNC
$32.9B
| $76.9M | 0.1% |
1,334,528
+24,200
| +2% | +$1.62M |
|
210
Ventas
VTR
$47.2B
| $76.4M | 0.1% |
1,303,280
+17,500
| +1% | +$1.03M |
|
211
Halliburton
HAL
$28B
| $76M | 0.1% |
2,860,497
+64,200
| +2% | +$2.17M |
|
212
Evergy
EVRG
$18.9B
| $75.9M | 0.1% |
1,337,326
+8,300
| +0.6% | +$479K |
|
213
Digital Realty Trust
DLR
$70.8B
| $75.9M | 0.1% |
711,978
+11,900
| +2% | +$1.31M |
|
214
Workday
WDAY
$45.5B
| $75.8M | 0.1% |
475,600
+9,000
| +2% | +$1.28M |
|
215
T-Mobile US
TMUS
$191B
| $75.2M | 0.1% |
1,182,524
+20,400
| +2% | +$1.37M |
|
216
Archer Daniels Midland
ADM
$38.8B
| $74.5M | 0.1% |
1,819,604
+34,600
| +2% | +$1.61M |
|
217
C.H. Robinson
CHRW
$17.3B
| $73.4M | 0.09% |
873,428
-3,400
| -0.4% | -$304K |
|
|
APC
218
DELISTED
Anadarko Petroleum
APC
| $73M | 0.09% |
1,664,505
+20,300
| +1% | +$1.14M |
|
|
PXD
219
DELISTED
Pioneer Natural Resource Co.
PXD
| $72.9M | 0.09% |
554,352
+10,300
| +2% | +$1.57M |
|
220
Trane Technologies
TT
$105B
| $72.8M | 0.09% |
797,658
+6,200
| +0.8% | +$609K |
|
221
Edison International
EIX
$26.1B
| $72.5M | 0.09% |
1,276,264
+15,300
| +1% | +$951K |
|
222
Oneok
OKE
$56.9B
| $72.1M | 0.09% |
1,336,912
+24,700
| +2% | +$1.53M |
|
223
Agnico Eagle Mines
AEM
$91.4B
| $72.1M | 0.09% |
1,785,053
-13,700
| -0.8% | -$505K |
|
224
McKesson
MCK
$103B
| $71.8M | 0.09% |
649,791
+4,700
| +0.7% | +$586K |
|
|
PPL
225
PPL Corp
PPL
$26.3B
| $71.6M | 0.09% |
2,528,547
+38,000
| +2% | +$1.15M |
|
Similar funds
Swiss National Bank's Q4 2018 Portfolio in Review
As of Q4 2018, Swiss National Bank held 2,591 positions worth $78B, down 13% from $89.8B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Swiss National Bank's Q4 2018 filing shows 87 new, 1,610 increased, 323 reduced and 55 closed positions. Its largest new stake was Linde: 1,915,836 shares worth $299M. The largest sale was Aetna Inc, an estimated $234M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q4 2018 buy was Linde: 1,915,836 shares worth $299M.
- Swiss National Bank added most to Cigna in Q4 2018, an estimated $95.5M increase.
- Swiss National Bank's biggest Q4 2018 reduction was Dell, cutting an estimated $52.3M.
- Swiss National Bank fully exited Aetna Inc in Q4 2018, selling an estimated $234M.
- Swiss National Bank's ten largest holdings make up 18% of its $78B portfolio in Q4 2018.
- Swiss National Bank opened 87 new positions and closed 55 in Q4 2018.
- Swiss National Bank's portfolio value fell 13% quarter-over-quarter to $78B.
Based on Swiss National Bank's 13F filing for Q4 2018, filed 13 Feb 2019.