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 | |
|---|---|---|---|---|---|---|
1526
Scholastic
SCHL
$784M
| $2.14M | ﹤0.01% |
53,100
+800
| +2% | +$34.8K |
|
1527
Gray Television
GTN
$520M
| $2.14M | ﹤0.01% |
145,000
+3,600
| +3% | +$62.5K |
|
1528
Strategy Inc
MSTR
$38.2B
| $2.13M | ﹤0.01% |
167,000
+3,000
| +2% | +$38K |
|
1529
SPX Corp
SPXC
$10.6B
| $2.13M | ﹤0.01% |
76,118
+2,000
| +3% | +$58.4K |
|
1530
WSFS Financial
WSFS
$4.17B
| $2.13M | ﹤0.01% |
56,200
+1,500
| +3% | +$63.1K |
|
|
AVTA
1531
DELISTED
Avantax, Inc. Common Stock
AVTA
| $2.13M | ﹤0.01% |
80,000
+2,000
| +3% | +$61.3K |
|
|
VRTU
1532
DELISTED
Virtusa Corporation
VRTU
| $2.13M | ﹤0.01% |
50,000
+1,700
| +4% | +$77.7K |
|
1533
Caleres
CAL
$461M
| $2.13M | ﹤0.01% |
76,400
+1,800
| +2% | +$57.9K |
|
1534
Oxford Industries
OXM
$542M
| $2.12M | ﹤0.01% |
29,900
+600
| +2% | +$48.6K |
|
1535
Park National Corp
PRK
$3.75B
| $2.12M | ﹤0.01% |
25,000
+1,100
| +5% | +$102K |
|
1536
TransAlta
TAC
$3.99B
| $2.12M | ﹤0.01% |
517,900
| – | – |
|
1537
Knowles
KN
$3.23B
| $2.12M | ﹤0.01% |
159,300
+4,100
| +3% | +$60.1K |
|
|
CATM
1538
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $2.12M | ﹤0.01% |
81,500
+2,100
| +3% | +$63.6K |
|
1539
Federal Signal
FSS
$7.51B
| $2.12M | ﹤0.01% |
106,400
+2,000
| +2% | +$45.6K |
|
1540
Shake Shack
SHAK
$2.98B
| $2.11M | ﹤0.01% |
46,500
+4,100
| +10% | +$211K |
|
1541
Clearway Energy Class C
CWEN
$7.02B
| $2.11M | ﹤0.01% |
122,250
+8,300
| +7% | +$155K |
|
1542
Oceaneering
OII
$5.11B
| $2.11M | ﹤0.01% |
174,248
+3,100
| +2% | +$58.3K |
|
1543
Safety Insurance
SAFT
$1.52B
| $2.1M | ﹤0.01% |
25,700
+600
| +2% | +$51.2K |
|
1544
United Fire Group
UFCS
$1.38B
| $2.09M | ﹤0.01% |
37,700
+600
| +2% | +$30.9K |
|
|
MDR
1545
DELISTED
McDermott International
MDR
| $2.09M | ﹤0.01% |
319,211
+8,900
| +3% | +$94K |
|
1546
Kite Realty
KRG
$5.31B
| $2.08M | ﹤0.01% |
147,900
+2,300
| +2% | +$36.2K |
|
1547
Ambarella
AMBA
$3.66B
| $2.06M | ﹤0.01% |
59,033
+600
| +1% | +$21.2K |
|
|
SGMO
1548
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
| $2.06M | ﹤0.01% |
179,760
+2,700
| +2% | +$33.5K |
|
|
BIG
1549
DELISTED
Big Lots, Inc.
BIG
| $2.06M | ﹤0.01% |
71,306
-2,600
| -4% | -$101K |
|
1550
Evolent Health
EVH
$527M
| $2.06M | ﹤0.01% |
103,300
+2,500
| +2% | +$57.8K |
|
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.