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 | |
|---|---|---|---|---|---|---|
1401
Gentherm
THRM
$1.27B
| $2.57M | ﹤0.01% |
64,200
| – | – |
|
|
CALY
1402
Callaway Golf Company
CALY
$2.95B
| $2.56M | ﹤0.01% |
167,000
+3,100
| +2% | +$62K |
|
1403
Ironwood Pharmaceuticals
IRWD
$714M
| $2.55M | ﹤0.01% |
293,843
-21,970
| -7% | -$252K |
|
|
WDR
1404
DELISTED
Waddell & Reed Financial, Inc.
WDR
| $2.55M | ﹤0.01% |
141,000
-4,500
| -3% | -$87.7K |
|
1405
SPS Commerce
SPSC
$2.86B
| $2.55M | ﹤0.01% |
61,800
+1,000
| +2% | +$43.6K |
|
1406
Mueller Water Products
MWA
$4.09B
| $2.54M | ﹤0.01% |
279,700
+3,700
| +1% | +$38.8K |
|
|
SFBS
1407
ServisFirst Bancshares
SFBS
$5B
| $2.54M | ﹤0.01% |
79,868
+1,500
| +2% | +$54K |
|
|
MSGN
1408
DELISTED
MSG Networks Inc.
MSGN
| $2.54M | ﹤0.01% |
108,000
| – | – |
|
1409
Insight Enterprises
NSIT
$4.54B
| $2.54M | ﹤0.01% |
62,400
| – | – |
|
1410
Progress Software
PRGS
$1.79B
| $2.54M | ﹤0.01% |
71,600
-1,800
| -2% | -$60.1K |
|
1411
Badger Meter
BMI
$3.91B
| $2.53M | ﹤0.01% |
51,500
+1,000
| +2% | +$51.2K |
|
1412
Saia
SAIA
$10.1B
| $2.53M | ﹤0.01% |
45,400
+1,000
| +2% | +$60.8K |
|
|
BZUN
1413
Baozun
BZUN
$164M
| $2.53M | ﹤0.01% |
86,591
| – | – |
|
1414
Mercury Insurance
MCY
$5.84B
| $2.53M | ﹤0.01% |
48,900
+700
| +1% | +$38.1K |
|
1415
Laureate Education
LAUR
$5.1B
| $2.52M | ﹤0.01% |
165,300
+71,000
| +75% | +$1.06M |
|
1416
Usana Health Sciences
USNA
$250M
| $2.52M | ﹤0.01% |
21,400
+500
| +2% | +$57.8K |
|
1417
Cars.com
CARS
$648M
| $2.52M | ﹤0.01% |
117,100
-1,300
| -1% | -$32.5K |
|
1418
Alamos Gold
AGI
$13.8B
| $2.52M | ﹤0.01% |
699,536
| – | – |
|
1419
Medifast
MED
$130M
| $2.51M | ﹤0.01% |
20,100
+300
| +2% | +$51.3K |
|
1420
Axos Financial
AX
$5.68B
| $2.51M | ﹤0.01% |
99,700
| – | – |
|
|
PVG
1421
DELISTED
PRETIUM RESOURCES INC.
PVG
| $2.51M | ﹤0.01% |
295,848
| – | – |
|
1422
Meritage Homes
MTH
$4.75B
| $2.51M | ﹤0.01% |
136,600
+3,200
| +2% | +$59.1K |
|
|
MINI
1423
DELISTED
Mobile Mini Inc
MINI
| $2.51M | ﹤0.01% |
79,000
+2,200
| +3% | +$85.3K |
|
1424
Red Rock Resorts
RRR
$3.73B
| $2.5M | ﹤0.01% |
123,100
+2,000
| +2% | +$47.1K |
|
1425
Medpace
MEDP
$16.2B
| $2.5M | ﹤0.01% |
47,200
-1,600
| -3% | -$87.8K |
|
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.