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 | |
|---|---|---|---|---|---|---|
|
NCI
1601
DELISTED
Navigant Consulting, Inc.
NCI
| $1.92M | ﹤0.01% |
80,000
| – | – |
|
1602
Nelnet
NNI
$4.55B
| $1.91M | ﹤0.01% |
36,500
| – | – |
|
1603
First Busey Corp
BUSE
$2.58B
| $1.91M | ﹤0.01% |
77,699
+1,400
| +2% | +$38.7K |
|
|
WAGE
1604
DELISTED
WageWorks, Inc.
WAGE
| $1.9M | ﹤0.01% |
70,100
+900
| +1% | +$32.3K |
|
1605
AnaptysBio
ANAB
$1.66B
| $1.9M | ﹤0.01% |
29,700
| – | – |
|
|
ISCA
1606
DELISTED
International Speedway Corp
ISCA
| $1.9M | ﹤0.01% |
43,200
+500
| +1% | +$20.2K |
|
|
CORE
1607
DELISTED
Core Mark Holding Co., Inc.
CORE
| $1.89M | ﹤0.01% |
81,200
+800
| +1% | +$24.4K |
|
|
RETA
1608
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $1.89M | ﹤0.01% |
33,600
+400
| +1% | +$24.4K |
|
|
CSGS
1609
DELISTED
CSG Systems International
CSGS
| $1.88M | ﹤0.01% |
59,300
+800
| +1% | +$28.1K |
|
1610
BJ's Restaurants
BJRI
$1.42B
| $1.88M | ﹤0.01% |
37,200
+1,500
| +4% | +$90.5K |
|
1611
City Holding Co
CHCO
$2.08B
| $1.88M | ﹤0.01% |
27,800
+600
| +2% | +$44.1K |
|
|
OSB
1612
DELISTED
Norbord Inc.
OSB
| $1.87M | ﹤0.01% |
70,428
+1,000
| +1% | +$27.2K |
|
1613
IMAX
IMAX
$2.92B
| $1.87M | ﹤0.01% |
99,500
-2,400
| -2% | -$49K |
|
1614
Kinsale Capital Group
KNSL
$8.59B
| $1.87M | ﹤0.01% |
33,662
+800
| +2% | +$47.3K |
|
1615
Rush Enterprises Class A
RUSHA
$9.62B
| $1.87M | ﹤0.01% |
121,950
| – | – |
|
1616
NMI Holdings
NMIH
$3.42B
| $1.87M | ﹤0.01% |
104,674
+3,900
| +4% | +$75.9K |
|
|
MNR
1617
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $1.86M | ﹤0.01% |
150,400
+21,900
| +17% | +$319K |
|
|
NVRO
1618
DELISTED
NEVRO CORP.
NVRO
| $1.86M | ﹤0.01% |
47,900
+1,200
| +3% | +$53.3K |
|
|
SASR
1619
DELISTED
Sandy Spring Bancorp Inc
SASR
| $1.86M | ﹤0.01% |
59,435
| – | – |
|
1620
STAAR Surgical
STAA
$1.26B
| $1.86M | ﹤0.01% |
58,300
+4,500
| +8% | +$175K |
|
1621
OR Royalties Inc
OR
$6.15B
| $1.86M | ﹤0.01% |
211,730
+6,600
| +3% | +$51.7K |
|
1622
AZZ Inc
AZZ
$4.52B
| $1.86M | ﹤0.01% |
46,000
+600
| +1% | +$27.1K |
|
|
TIER
1623
DELISTED
TIER REIT, Inc.
TIER
| $1.85M | ﹤0.01% |
89,814
+6,500
| +8% | +$146K |
|
|
WIRE
1624
DELISTED
Encore Wire Corp
WIRE
| $1.85M | ﹤0.01% |
36,833
+600
| +2% | +$28.5K |
|
1625
JELD-WEN Holding
JELD
$170M
| $1.85M | ﹤0.01% |
130,000
| – | – |
|
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.