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 | |
|---|---|---|---|---|---|---|
1501
Hudbay
HBM
$11.8B
| $2.23M | ﹤0.01% |
469,900
| – | – |
|
|
ALEX
1502
DELISTED
Alexander & Baldwin
ALEX
| $2.22M | ﹤0.01% |
121,020
+2,400
| +2% | +$48.4K |
|
1503
Brookdale Senior Living
BKD
$3.1B
| $2.22M | ﹤0.01% |
331,839
+7,600
| +2% | +$63.8K |
|
1504
Universal Insurance Holdings
UVE
$1.18B
| $2.22M | ﹤0.01% |
58,600
+1,000
| +2% | +$43.5K |
|
1505
Global Net Lease
GNL
$1.9B
| $2.22M | ﹤0.01% |
126,067
+9,300
| +8% | +$185K |
|
|
CBM
1506
DELISTED
Cambrex Corporation
CBM
| $2.22M | ﹤0.01% |
58,800
+1,800
| +3% | +$91.1K |
|
|
FOE
1507
DELISTED
Ferro Corporation
FOE
| $2.22M | ﹤0.01% |
141,300
+2,800
| +2% | +$51.1K |
|
1508
Builders FirstSource
BLDR
$7.79B
| $2.21M | ﹤0.01% |
202,900
+6,600
| +3% | +$82.9K |
|
1509
TriMas Corp
TRS
$1.41B
| $2.21M | ﹤0.01% |
81,100
+1,200
| +2% | +$34.2K |
|
1510
HUB Group
HUBG
$2.46B
| $2.21M | ﹤0.01% |
119,200
+2,600
| +2% | +$55.8K |
|
1511
iRhythm Holdings
IRTC
$4.06B
| $2.21M | ﹤0.01% |
31,800
+900
| +3% | +$68.2K |
|
|
RWT
1512
Redwood Trust
RWT
$592M
| $2.21M | ﹤0.01% |
146,600
+12,800
| +10% | +$207K |
|
1513
McGrath RentCorp
MGRC
$2.94B
| $2.2M | ﹤0.01% |
42,700
+800
| +2% | +$41.1K |
|
1514
Kratos Defense & Security Solutions
KTOS
$11.8B
| $2.2M | ﹤0.01% |
155,900
+5,800
| +4% | +$79.9K |
|
|
DCH
1515
Dauch Corp
DCH
$1.61B
| $2.19M | ﹤0.01% |
197,500
+3,700
| +2% | +$49.5K |
|
1516
Innoviva
INVA
$1.5B
| $2.19M | ﹤0.01% |
125,600
+1,500
| +1% | +$24.4K |
|
1517
Virtu Financial
VIRT
$5.04B
| $2.19M | ﹤0.01% |
85,100
+37,300
| +78% | +$900K |
|
1518
Arcosa
ACA
$7.12B
| $2.19M | ﹤0.01% |
+79,100
| New | +$2.17M |
|
|
DOOR
1519
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $2.19M | ﹤0.01% |
48,777
-700
| -1% | -$37.8K |
|
1520
AAR Corp
AIR
$5.96B
| $2.18M | ﹤0.01% |
58,400
+1,600
| +3% | +$70K |
|
|
HF
1521
DELISTED
HFF Inc.
HF
| $2.18M | ﹤0.01% |
65,700
+1,800
| +3% | +$66.9K |
|
|
PTLA
1522
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
| $2.17M | ﹤0.01% |
111,057
+3,100
| +3% | +$63.8K |
|
|
APHA
1523
DELISTED
Aphria Inc. Common Shares
APHA
| $2.16M | ﹤0.01% |
+375,200
| New | +$2.96M |
|
1524
ICF International
ICFI
$1.61B
| $2.16M | ﹤0.01% |
33,300
+700
| +2% | +$49K |
|
1525
First Commonwealth Financial
FCF
$2.18B
| $2.14M | ﹤0.01% |
177,500
+2,400
| +1% | +$33K |
|
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.