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 | |
|---|---|---|---|---|---|---|
1551
G-III Apparel Group
GIII
$1.43B
| $2.06M | ﹤0.01% |
73,900
+1,300
| +2% | +$48.1K |
|
1552
Seacoast Banking Corp of Florida
SBCF
$3.48B
| $2.06M | ﹤0.01% |
79,200
+1,600
| +2% | +$42.9K |
|
|
TIVO
1553
DELISTED
Tivo Inc
TIVO
| $2.06M | ﹤0.01% |
218,913
+7,700
| +4% | +$83.1K |
|
1554
United Parks & Resorts
PRKS
$2.04B
| $2.06M | ﹤0.01% |
93,200
-1,200
| -1% | -$32.1K |
|
1555
3D Systems Corp
DDD
$601M
| $2.05M | ﹤0.01% |
201,650
+3,400
| +2% | +$46.6K |
|
|
TAHO
1556
DELISTED
Tahoe Resources Inc
TAHO
| $2.05M | ﹤0.01% |
562,601
| – | – |
|
|
CVGW
1557
DELISTED
Calavo Growers
CVGW
| $2.04M | ﹤0.01% |
28,000
+500
| +2% | +$46.7K |
|
|
NAV
1558
DELISTED
Navistar International
NAV
| $2.04M | ﹤0.01% |
78,600
+1,700
| +2% | +$53.2K |
|
1559
Huron Consulting
HURN
$2.47B
| $2.04M | ﹤0.01% |
39,700
+600
| +2% | +$30.5K |
|
1560
MaxLinear
MXL
$6.95B
| $2.03M | ﹤0.01% |
115,573
| – | – |
|
1561
Kearny Financial
KRNY
$604M
| $2.03M | ﹤0.01% |
158,564
-6,800
| -4% | -$88.4K |
|
|
LTRPA
1562
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $2.03M | ﹤0.01% |
127,552
+2,000
| +2% | +$32K |
|
|
SRCI
1563
DELISTED
SRC Energy Inc
SRCI
| $2.02M | ﹤0.01% |
428,828
+7,800
| +2% | +$52.2K |
|
1564
Gibraltar Industries
ROCK
$1.45B
| $2.01M | ﹤0.01% |
56,600
+1,400
| +3% | +$51.1K |
|
|
NTUS
1565
DELISTED
Natus Medical Inc
NTUS
| $2.01M | ﹤0.01% |
59,100
+700
| +1% | +$22.8K |
|
|
LADR
1566
Ladder Capital
LADR
$1.27B
| $2.01M | ﹤0.01% |
129,862
+4,500
| +4% | +$76.4K |
|
1567
NeoGenomics
NEO
$2.11B
| $2.01M | ﹤0.01% |
159,300
+33,300
| +26% | +$496K |
|
|
PMT
1568
PennyMac Mortgage Investment
PMT
$828M
| $2.01M | ﹤0.01% |
107,800
+1,000
| +0.9% | +$19.9K |
|
1569
Artisan Partners
APAM
$2.97B
| $2M | ﹤0.01% |
90,700
+1,300
| +1% | +$34.7K |
|
|
DOO
1570
Bombardier Recreational Products
DOO
$4.75B
| $2M | ﹤0.01% |
77,400
+1,200
| +2% | +$43.3K |
|
1571
Simply Good Foods
SMPL
$989M
| $2M | ﹤0.01% |
106,100
+1,800
| +2% | +$34K |
|
1572
Casella Waste Systems
CWST
$5.79B
| $2M | ﹤0.01% |
70,200
+2,200
| +3% | +$66.8K |
|
1573
Dine Brands
DIN
$440M
| $2M | ﹤0.01% |
29,700
| – | – |
|
1574
Interparfums
IPAR
$3.7B
| $2M | ﹤0.01% |
30,500
+800
| +3% | +$48K |
|
1575
Theravance Biopharma
TBPH
$878M
| $2M | ﹤0.01% |
77,942
+2,800
| +4% | +$75.6K |
|
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.