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 | |
|---|---|---|---|---|---|---|
|
MB
1476
DELISTED
MINDBODY, Inc. Class A Common Stock
MB
| $2.29M | ﹤0.01% |
62,800
+2,800
| +5% | +$85.2K |
|
1477
Central Garden & Pet Co Class A
CENTA
$2.43B
| $2.28M | ﹤0.01% |
91,125
+2,000
| +2% | +$47.9K |
|
|
ODP
1478
DELISTED
ODP
ODP
| $2.28M | ﹤0.01% |
88,240
-1,970
| -2% | -$56.4K |
|
1479
GameStop
GME
$8.33B
| $2.27M | ﹤0.01% |
720,728
+14,800
| +2% | +$51.8K |
|
1480
Walker & Dunlop
WD
$1.45B
| $2.27M | ﹤0.01% |
52,500
+800
| +2% | +$36.8K |
|
1481
BGC Group
BGC
$5.12B
| $2.27M | ﹤0.01% |
438,908
-213,427
| -33% | -$1.41M |
|
|
SCS
1482
DELISTED
Steelcase
SCS
| $2.26M | ﹤0.01% |
152,600
| – | – |
|
|
SFLY
1483
DELISTED
Shutterfly, Inc.
SFLY
| $2.26M | ﹤0.01% |
56,200
+1,300
| +2% | +$68.3K |
|
1484
Enerpac Tool Group
EPAC
$1.91B
| $2.26M | ﹤0.01% |
107,700
+3,700
| +4% | +$90.2K |
|
1485
SolarEdge
SEDG
$1.98B
| $2.26M | ﹤0.01% |
64,400
+1,600
| +3% | +$61.3K |
|
1486
Mueller Industries
MLI
$15.1B
| $2.26M | ﹤0.01% |
386,800
+5,200
| +1% | +$32.2K |
|
|
PPBI
1487
DELISTED
Pacific Premier Bancorp
PPBI
| $2.25M | ﹤0.01% |
88,274
+2,000
| +2% | +$60.4K |
|
1488
Denali Therapeutics
DNLI
$4.04B
| $2.25M | ﹤0.01% |
109,000
+1,900
| +2% | +$34.5K |
|
1489
Ameris Bancorp
ABCB
$5.94B
| $2.25M | ﹤0.01% |
71,064
| – | – |
|
1490
The Greenbrier Companies
GBX
$1.41B
| $2.25M | ﹤0.01% |
56,900
+800
| +1% | +$39.4K |
|
|
DLPH
1491
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
| $2.25M | ﹤0.01% |
156,990
+2,100
| +1% | +$40.9K |
|
|
MDC
1492
DELISTED
M.D.C. Holdings, Inc.
MDC
| $2.25M | ﹤0.01% |
93,159
+1,983
| +2% | +$47.9K |
|
|
IPHI
1493
DELISTED
INPHI CORPORATION
IPHI
| $2.24M | ﹤0.01% |
69,800
+1,200
| +2% | +$41.7K |
|
|
NOAH
1494
Noah Holdings
NOAH
$588M
| $2.24M | ﹤0.01% |
51,624
| – | – |
|
|
CADE
1495
DELISTED
Cadence Bancorporation
CADE
| $2.23M | ﹤0.01% |
133,100
+2,200
| +2% | +$46.7K |
|
1496
DNOW Inc
DNOW
$3.04B
| $2.23M | ﹤0.01% |
191,700
+2,300
| +1% | +$32.2K |
|
1497
Houlihan Lokey
HLI
$8.63B
| $2.23M | ﹤0.01% |
60,636
+500
| +0.8% | +$20.4K |
|
1498
Enpro
NPO
$7.12B
| $2.23M | ﹤0.01% |
37,100
| – | – |
|
|
GES
1499
DELISTED
Guess Inc
GES
| $2.23M | ﹤0.01% |
107,300
-1,400
| -1% | -$29.7K |
|
1500
OSI Systems
OSIS
$3.82B
| $2.23M | ﹤0.01% |
30,400
-1,700
| -5% | -$123K |
|
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.