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 | 19.27% |
| 2 | Healthcare | 16.5% |
| 3 | Consumer Discretionary | 11.59% |
| 4 | Communication Services | 10.3% |
| 5 | Industrials | 9.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1101
First Financial Bancorp
FFBC
$3.6B
| $4.11M | 0.01% |
173,143
+3,200
| +2% | +$84.5K |
|
1102
InterDigital
IDCC
$8.88B
| $4.09M | 0.01% |
61,600
+1,100
| +2% | +$80.1K |
|
|
CXP
1103
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
| $4.08M | 0.01% |
210,945
| – | – |
|
1104
Avient
AVNT
$4.16B
| $4.07M | 0.01% |
142,200
| – | – |
|
1105
FirstService
FSV
$6.24B
| $4.07M | 0.01% |
59,200
| – | – |
|
|
BDN
1106
Brandywine Realty Trust
BDN
$541M
| $4.06M | 0.01% |
315,800
+1,900
| +0.6% | +$26.8K |
|
1107
California Water Service
CWT
$3.1B
| $4.05M | 0.01% |
85,000
+1,500
| +2% | +$66.4K |
|
|
IRBT
1108
DELISTED
iRobot
IRBT
| $4.04M | 0.01% |
48,300
| – | – |
|
|
ARGO
1109
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $4.04M | 0.01% |
60,116
+1,000
| +2% | +$64.8K |
|
1110
Mercury Systems
MRCY
$6.7B
| $4.03M | 0.01% |
85,300
+1,500
| +2% | +$73.1K |
|
|
AUY
1111
DELISTED
Yamana Gold, Inc.
AUY
| $4.03M | 0.01% |
1,714,200
+22,400
| +1% | +$52.2K |
|
1112
Viavi Solutions
VIAV
$10.6B
| $4.03M | 0.01% |
400,900
+4,900
| +1% | +$52.9K |
|
1113
Patterson-UTI
PTEN
$4.16B
| $4.03M | 0.01% |
389,100
+2,100
| +0.5% | +$30.9K |
|
1114
Pan American Silver
PAAS
$19.9B
| $4.02M | 0.01% |
275,500
| – | – |
|
1115
Box
BOX
$4.48B
| $4.02M | 0.01% |
237,900
+24,500
| +11% | +$451K |
|
1116
CVB Financial
CVBF
$4.05B
| $4.02M | 0.01% |
198,500
+3,700
| +2% | +$80.2K |
|
|
JBTM
1117
JBT Marel
JBTM
$6.15B
| $4.01M | 0.01% |
55,900
+800
| +1% | +$70.9K |
|
1118
Acadia Healthcare
ACHC
$2.95B
| $4.01M | 0.01% |
156,068
+2,900
| +2% | +$100K |
|
1119
Simpson Manufacturing
SSD
$7.99B
| $4.01M | 0.01% |
74,100
| – | – |
|
1120
Monro
MNRO
$352M
| $4M | 0.01% |
58,142
+1,100
| +2% | +$80.4K |
|
|
WCC
1121
WESCO International
WCC
$17.8B
| $3.99M | 0.01% |
83,200
| – | – |
|
1122
Inogen
INGN
$154M
| $3.99M | 0.01% |
32,100
+600
| +2% | +$98.8K |
|
|
ENV
1123
DELISTED
ENVESTNET, INC.
ENV
| $3.95M | 0.01% |
80,300
+1,400
| +2% | +$75K |
|
1124
WaFd
WAFD
$2.79B
| $3.94M | 0.01% |
147,700
-2,000
| -1% | -$56.2K |
|
1125
Fox Factory Holding Corp
FOXF
$886M
| $3.94M | 0.01% |
66,900
+1,400
| +2% | +$87.2K |
|
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.