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 | |
|---|---|---|---|---|---|---|
1326
Sanmina
SANM
$11.2B
| $2.89M | ﹤0.01% |
120,200
-4,500
| -4% | -$113K |
|
|
TRTN
1327
DELISTED
Triton International Limited
TRTN
| $2.89M | ﹤0.01% |
92,900
+1,400
| +2% | +$45.2K |
|
1328
Comfort Systems
FIX
$60.8B
| $2.88M | ﹤0.01% |
65,900
+1,100
| +2% | +$56.3K |
|
1329
Matador Resources
MTDR
$6.5B
| $2.88M | ﹤0.01% |
185,202
+2,700
| +1% | +$67.9K |
|
1330
CONMED
CNMD
$1.49B
| $2.87M | ﹤0.01% |
44,700
+900
| +2% | +$61.6K |
|
1331
QuidelOrtho
QDEL
$1.03B
| $2.87M | ﹤0.01% |
58,700
+3,200
| +6% | +$191K |
|
|
CTB
1332
DELISTED
Cooper Tire & Rubber Co.
CTB
| $2.86M | ﹤0.01% |
88,500
-2,200
| -2% | -$66.8K |
|
1333
Invesco Mortgage Capital
IVR
$805M
| $2.86M | ﹤0.01% |
19,740
+300
| +2% | +$45.4K |
|
1334
Forward Air
FWRD
$682M
| $2.85M | ﹤0.01% |
51,900
-800
| -2% | -$49.2K |
|
1335
Alarm.com
ALRM
$2.74B
| $2.84M | ﹤0.01% |
54,800
+1,300
| +2% | +$62.8K |
|
|
UCB
1336
United Community Banks
UCB
$4.43B
| $2.84M | ﹤0.01% |
132,400
| – | – |
|
1337
Enviri
NVRI
$583M
| $2.84M | ﹤0.01% |
143,000
+3,500
| +3% | +$86.8K |
|
|
BLD
1338
DELISTED
TopBuild
BLD
| $2.84M | ﹤0.01% |
63,021
+1,000
| +2% | +$48.6K |
|
|
XLRN
1339
DELISTED
Acceleron Pharma
XLRN
| $2.83M | ﹤0.01% |
65,100
+1,900
| +3% | +$94.9K |
|
|
AVYA
1340
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
| $2.83M | ﹤0.01% |
194,400
+2,900
| +2% | +$49.2K |
|
1341
UFP Industries
UFPI
$5.06B
| $2.83M | ﹤0.01% |
108,950
+2,300
| +2% | +$66.1K |
|
1342
GDS Holdings
GDS
$6.97B
| $2.83M | ﹤0.01% |
122,409
+27,007
| +28% | +$704K |
|
1343
Prestige Consumer Healthcare
PBH
$2.43B
| $2.83M | ﹤0.01% |
91,500
| – | – |
|
|
BBBY
1344
DELISTED
Bed Bath & Beyond Inc
BBBY
| $2.82M | ﹤0.01% |
249,400
| – | – |
|
|
CUB
1345
DELISTED
Cubic Corporation
CUB
| $2.82M | ﹤0.01% |
52,400
+7,500
| +17% | +$473K |
|
1346
Eagle Bancorp
EGBN
$877M
| $2.81M | ﹤0.01% |
57,632
+1,100
| +2% | +$56K |
|
|
TUP
1347
DELISTED
Tupperware Brands Corporation
TUP
| $2.79M | ﹤0.01% |
88,500
| – | – |
|
|
CVA
1348
DELISTED
Covanta Holding Corporation
CVA
| $2.79M | ﹤0.01% |
208,200
+2,800
| +1% | +$43.2K |
|
1349
Moelis & Co
MC
$4.91B
| $2.78M | ﹤0.01% |
80,800
+800
| +1% | +$34K |
|
|
LGF.B
1350
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $2.78M | ﹤0.01% |
186,694
+6,100
| +3% | +$110K |
|
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.