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 |
Viatris
VTRS
|
+$46.9M |
| 2 |
Cloudflare
NET
|
+$38.2M |
| 3 |
10x Genomics
TXG
|
+$33.7M |
| 4 |
Teladoc Health
TDOC
|
+$31.9M |
| 5 |
Pinduoduo
PDD
|
+$31.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$349M |
| 2 |
Microsoft
MSFT
|
+$191M |
| 3 |
Amazon
AMZN
|
+$136M |
| 4 |
Meta Platforms (Facebook)
META
|
+$77M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$73.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.42% |
| 2 | Healthcare | 14.37% |
| 3 | Consumer Discretionary | 13.81% |
| 4 | Communication Services | 10.64% |
| 5 | Industrials | 8.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
801
First American
FAF
$7.56B
| $13M | 0.01% |
252,100
-400
| -0.2% | -$20.1K |
|
|
FLIR
802
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $13M | 0.01% |
296,809
-368,600
| -55% | -$14.2M |
|
803
Freshpet
FRPT
$3.5B
| $13M | 0.01% |
91,550
+300
| +0.3% | +$38.7K |
|
804
Western Alliance Bancorporation
WAL
$8.92B
| $13M | 0.01% |
216,600
-800
| -0.4% | -$38.9K |
|
805
BWX Technologies
BWXT
$15.6B
| $13M | 0.01% |
215,400
-400
| -0.2% | -$23K |
|
806
Old Republic International
ORI
$10.3B
| $12.9M | 0.01% |
653,000
-1,500
| -0.2% | -$26.3K |
|
807
NeoGenomics
NEO
$2.11B
| $12.8M | 0.01% |
237,200
+900
| +0.4% | +$40.7K |
|
|
NVRO
808
DELISTED
NEVRO CORP.
NVRO
| $12.8M | 0.01% |
73,700
+500
| +0.7% | +$81K |
|
|
TCF
809
DELISTED
TCF Financial Corporation Common Stock
TCF
| $12.7M | 0.01% |
344,201
-500
| -0.1% | -$15.9K |
|
810
Marriott Vacations Worldwide
VAC
$4.17B
| $12.7M | 0.01% |
92,836
-200
| -0.2% | -$23.6K |
|
811
Harley-Davidson
HOG
$2.9B
| $12.7M | 0.01% |
346,500
-700
| -0.2% | -$24K |
|
812
Helen of Troy
HELE
$699M
| $12.7M | 0.01% |
57,200
| – | – |
|
|
LSI
813
DELISTED
Life Storage, Inc.
LSI
| $12.7M | 0.01% |
159,083
-450
| -0.3% | -$34.3K |
|
814
Silicon Laboratories
SLAB
$7.28B
| $12.6M | 0.01% |
99,000
| – | – |
|
815
Jefferies Financial Group
JEF
$12.9B
| $12.6M | 0.01% |
535,970
-5,753
| -1% | -$121K |
|
816
Halozyme
HALO
$11.4B
| $12.6M | 0.01% |
294,300
+1,100
| +0.4% | +$39.5K |
|
817
Polaris
PII
$3.91B
| $12.6M | 0.01% |
131,800
| – | – |
|
818
Wyndham Hotels & Resorts
WH
$5.51B
| $12.5M | 0.01% |
210,600
-400
| -0.2% | -$21.6K |
|
819
Tandem Diabetes Care
TNDM
$1.61B
| $12.5M | 0.01% |
130,800
+1,400
| +1% | +$144K |
|
820
Mine Safety
MSA
$7.32B
| $12.5M | 0.01% |
83,600
| – | – |
|
|
NVTA
821
DELISTED
Invitae Corporation
NVTA
| $12.5M | 0.01% |
298,500
+15,200
| +5% | +$726K |
|
|
PBCT
822
DELISTED
People's United Financial Inc
PBCT
| $12.4M | 0.01% |
+960,400
| New | +$11.5M |
|
823
Starwood Property Trust
STWD
$6.05B
| $12.4M | 0.01% |
643,165
+3,400
| +0.5% | +$57.9K |
|
|
NATI
824
DELISTED
National Instruments Corp
NATI
| $12.4M | 0.01% |
282,300
+1,100
| +0.4% | +$41K |
|
825
Morningstar
MORN
$7.76B
| $12.3M | 0.01% |
53,300
| – | – |
|
Similar funds
Swiss National Bank's Q4 2020 Portfolio in Review
As of Q4 2020, Swiss National Bank held 2,555 positions worth $141B, up 10% from $128B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Swiss National Bank's Q4 2020 filing shows 125 new, 501 increased, 893 reduced and 65 closed positions. Its largest new stake was Cloudflare: 582,300 shares worth $44.2M. The largest sale was Apple, an estimated $349M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q4 2020 buy was Cloudflare: 582,300 shares worth $44.2M.
- Swiss National Bank added most to Viatris in Q4 2020, an estimated $46.9M increase.
- Swiss National Bank's biggest Q4 2020 reduction was Apple, cutting an estimated $349M.
- Swiss National Bank fully exited Immunomedics Inc in Q4 2020, selling an estimated $37.8M.
- Swiss National Bank's ten largest holdings make up 24% of its $141B portfolio in Q4 2020.
- Swiss National Bank opened 125 new positions and closed 65 in Q4 2020.
- Swiss National Bank's portfolio value rose 10% quarter-over-quarter to $141B.
Based on Swiss National Bank's 13F filing for Q4 2020, filed 5 Feb 2021.