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 |
Stellantis
STLA
|
+$58.6M |
| 2 |
B
Barrick Mining
B
|
+$42.7M |
| 3 |
Henry Schein
HSIC
|
+$41.4M |
| 4 |
Qualcomm
QCOM
|
+$28.7M |
| 5 |
Republic Services
RSG
|
+$28.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KMR
KINDER MORGAN MANAGEMENT LLC
KMR
|
+$64.4M |
| 2 |
General Dynamics
GD
|
+$35.5M |
| 3 |
THI
TIM HORTONS INC COM, CANADA
THI
|
+$31.8M |
| 4 |
Apple
AAPL
|
+$30.2M |
| 5 |
Johnson & Johnson
JNJ
|
+$30M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 14.42% |
| 2 | Technology | 13.9% |
| 3 | Industrials | 10.95% |
| 4 | Consumer Staples | 10.07% |
| 5 | Energy | 9.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$5.02T
| $615M | 2.3% |
22,268,700
-1,109,600
| -5% | -$30.2M |
|
2
ExxonMobil
XOM
$653B
| $462M | 1.73% |
5,000,136
-182,900
| -4% | -$17.1M |
|
|
3
Johnson & Johnson
JNJ
$644B
| $372M | 1.39% |
3,554,864
-284,400
| -7% | -$30M |
|
4
Microsoft
MSFT
$2.94T
| $368M | 1.38% |
7,916,270
-263,600
| -3% | -$12.4M |
|
5
Procter & Gamble
PG
$339B
| $322M | 1.21% |
3,535,866
-61,900
| -2% | -$5.45M |
|
6
Alphabet (Google) Class C
GOOG
$4.11T
| $304M | 1.14% |
11,515,088
-292,802
| -2% | -$7.86M |
|
7
Verizon
VZ
$201B
| $284M | 1.06% |
6,066,930
-225,700
| -4% | -$11M |
|
8
AT&T
T
$167B
| $240M | 0.9% |
9,445,623
-279,099
| -3% | -$7.24M |
|
9
Chevron
CVX
$383B
| $239M | 0.89% |
2,130,023
-69,200
| -3% | -$7.86M |
|
10
GE Aerospace
GE
$366B
| $237M | 0.89% |
1,956,700
-57,924
| -3% | -$7.12M |
|
11
PepsiCo
PEP
$198B
| $225M | 0.84% |
2,379,106
-76,300
| -3% | -$7.32M |
|
12
Merck
MRK
$324B
| $215M | 0.81% |
3,970,873
-156,886
| -4% | -$8.74M |
|
13
Pfizer
PFE
$144B
| $215M | 0.8% |
7,265,421
-256,228
| -3% | -$7.35M |
|
14
Walmart Inc
WMT
$907B
| $208M | 0.78% |
7,273,887
-210,900
| -3% | -$5.7M |
|
15
Coca-Cola
KO
$386B
| $203M | 0.76% |
4,812,990
-150,500
| -3% | -$6.43M |
|
16
McDonald's
MCD
$194B
| $193M | 0.72% |
2,058,948
-9,200
| -0.4% | -$861K |
|
|
17
Qualcomm
QCOM
$168B
| $190M | 0.71% |
2,560,465
+392,100
| +18% | +$28.7M |
|
18
IBM
IBM
$214B
| $184M | 0.69% |
1,201,307
-57,425
| -5% | -$9.14M |
|
19
Canadian National Railway
CNI
$78.3B
| $175M | 0.66% |
2,539,200
+66,500
| +3% | +$4.55M |
|
20
Intel
INTC
$423B
| $167M | 0.63% |
4,600,302
-825,000
| -15% | -$28.7M |
|
21
Meta Platforms (Facebook)
META
$1.51T
| $159M | 0.6% |
2,043,500
+167,200
| +9% | +$12.8M |
|
22
Visa
V
$710B
| $155M | 0.58% |
2,361,828
-106,800
| -4% | -$6.43M |
|
23
Oracle
ORCL
$342B
| $149M | 0.56% |
3,313,528
-115,300
| -3% | -$4.69M |
|
24
Automatic Data Processing
ADP
$111B
| $148M | 0.55% |
1,772,985
-365,243
| -17% | -$29.6M |
|
25
Suncor Energy
SU
$77.4B
| $144M | 0.54% |
4,521,864
+139,700
| +3% | +$4.62M |
|
Similar funds
Swiss National Bank's Q4 2014 Portfolio in Review
As of Q4 2014, Swiss National Bank held 2,649 positions worth $26.7B, up 2.3% from $26.1B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Swiss National Bank's Q4 2014 filing shows 120 new, 1,249 increased, 564 reduced and 81 closed positions. Its largest new stake was Stellantis: 7,902,518 shares worth $59.9M. The largest sale was KINDER MORGAN MANAGEMENT LLC, an estimated $64.4M.
By sector, the portfolio is most concentrated in Healthcare at 14% of assets, up from 14% a quarter earlier, followed by Technology and Industrials.
- Swiss National Bank's largest Q4 2014 buy was Stellantis: 7,902,518 shares worth $59.9M.
- Swiss National Bank added most to Barrick Mining in Q4 2014, an estimated $42.7M increase.
- Swiss National Bank's biggest Q4 2014 reduction was Apple, cutting an estimated $30.2M.
- Swiss National Bank fully exited KINDER MORGAN MANAGEMENT LLC in Q4 2014, selling an estimated $64.4M.
- Swiss National Bank's ten largest holdings make up 13% of its $26.7B portfolio in Q4 2014.
- Swiss National Bank opened 120 new positions and closed 81 in Q4 2014.
- Swiss National Bank's portfolio value rose 2.3% quarter-over-quarter to $26.7B.
Based on Swiss National Bank's 13F filing for Q4 2014, filed 3 Feb 2015.