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 |
Bristol-Myers Squibb
BMY
|
+$114M |
| 2 |
BKI
Black Knight, Inc. Common Stock
BKI
|
+$31.3M |
| 3 |
PARA
Paramount Global Class B
PARA
|
+$26.4M |
| 4 |
Tyler Technologies
TYL
|
+$25M |
| 5 |
Brown & Brown
BRO
|
+$18.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$249M |
| 2 |
CELG
Celgene Corp
CELG
|
+$231M |
| 3 |
Microsoft
MSFT
|
+$171M |
| 4 |
Alibaba
BABA
|
+$140M |
| 5 |
Amazon
AMZN
|
+$99.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.7% |
| 2 | Healthcare | 14.91% |
| 3 | Consumer Discretionary | 11.71% |
| 4 | Communication Services | 10.34% |
| 5 | Industrials | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1601
Mativ Holdings
MATV
$674M
| $2.48M | ﹤0.01% |
59,100
+1,200
| +2% | +$49.9K |
|
1602
Granite Construction
GVA
$5.56B
| $2.48M | ﹤0.01% |
89,600
+1,700
| +2% | +$48.3K |
|
|
NAV
1603
DELISTED
Navistar International
NAV
| $2.47M | ﹤0.01% |
85,400
+1,700
| +2% | +$52.3K |
|
1604
Perdoceo Education
PRDO
$2B
| $2.47M | ﹤0.01% |
134,300
+2,700
| +2% | +$43.9K |
|
1605
Oxford Industries
OXM
$543M
| $2.46M | ﹤0.01% |
32,600
+700
| +2% | +$50.6K |
|
1606
AtriCure
ATRC
$2.25B
| $2.46M | ﹤0.01% |
75,600
+3,300
| +5% | +$93.9K |
|
1607
Veracyte
VCYT
$3.32B
| $2.46M | ﹤0.01% |
88,000
+17,400
| +25% | +$450K |
|
|
ALTR
1608
DELISTED
Altair Engineering Inc
ALTR
| $2.46M | ﹤0.01% |
68,400
+2,700
| +4% | +$91.1K |
|
|
INFN
1609
DELISTED
Infinera Corporation Common Stock
INFN
| $2.45M | ﹤0.01% |
309,000
+8,700
| +3% | +$53.5K |
|
1610
Eldorado Gold
EGO
$10.4B
| $2.45M | ﹤0.01% |
304,920
+4,000
| +1% | +$31K |
|
|
AVTA
1611
DELISTED
Avantax, Inc. Common Stock
AVTA
| $2.44M | ﹤0.01% |
93,400
+2,600
| +3% | +$58.2K |
|
1612
AMERISAFE
AMSF
$513M
| $2.44M | ﹤0.01% |
36,900
+700
| +2% | +$46.4K |
|
1613
Inogen
INGN
$153M
| $2.43M | ﹤0.01% |
35,600
+600
| +2% | +$37.6K |
|
1614
Boot Barn
BOOT
$4.95B
| $2.43M | ﹤0.01% |
54,500
+1,300
| +2% | +$51.3K |
|
1615
Independence Realty Trust
IRT
$4.01B
| $2.42M | ﹤0.01% |
172,600
+3,900
| +2% | +$56.8K |
|
|
TGI
1616
DELISTED
Triumph Group
TGI
| $2.42M | ﹤0.01% |
95,800
+2,000
| +2% | +$49.7K |
|
|
CBPX
1617
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $2.42M | ﹤0.01% |
66,300
+1,300
| +2% | +$42.8K |
|
1618
Alamo Group
ALG
$2.01B
| $2.41M | ﹤0.01% |
19,200
+400
| +2% | +$46.8K |
|
1619
Interparfums
IPAR
$3.67B
| $2.41M | ﹤0.01% |
33,100
+500
| +2% | +$36.4K |
|
|
AIMT
1620
DELISTED
Aimmune Therapeutics
AIMT
| $2.41M | ﹤0.01% |
71,874
+2,400
| +3% | +$67.1K |
|
|
KNL
1621
DELISTED
Knoll, Inc.
KNL
| $2.4M | ﹤0.01% |
95,200
+1,700
| +2% | +$44.9K |
|
1622
Lakeland Financial Corp
LKFN
$1.55B
| $2.4M | ﹤0.01% |
49,050
+1,100
| +2% | +$51.2K |
|
1623
Douglas Dynamics
PLOW
$976M
| $2.4M | ﹤0.01% |
43,600
+1,000
| +2% | +$50.5K |
|
|
INOV
1624
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
| $2.4M | ﹤0.01% |
127,400
+4,000
| +3% | +$66.9K |
|
1625
James River Group Holdings
JRVR
$193M
| $2.39M | ﹤0.01% |
58,099
+1,500
| +3% | +$58.9K |
|
Similar funds
Swiss National Bank's Q4 2019 Portfolio in Review
As of Q4 2019, Swiss National Bank held 2,602 positions worth $97.5B, up 3.6% from $94.1B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Swiss National Bank withdrew a net $3.98B in Q4 2019, closing 96 positions and reducing 725 holdings. Its most notable exit was Celgene Corp, an estimated $231M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 21% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Match Group worth $14.7M.
- Swiss National Bank's largest Q4 2019 buy was Match Group: 179,200 shares worth $14.7M.
- Swiss National Bank added most to Bristol-Myers Squibb in Q4 2019, an estimated $114M increase.
- Swiss National Bank's biggest Q4 2019 reduction was Apple, cutting an estimated $249M.
- Swiss National Bank fully exited Celgene Corp in Q4 2019, selling an estimated $231M.
- Swiss National Bank's ten largest holdings make up 19% of its $97.5B portfolio in Q4 2019.
- Swiss National Bank opened 82 new positions and closed 96 in Q4 2019.
- Swiss National Bank's portfolio value rose 3.6% quarter-over-quarter to $97.5B.
Based on Swiss National Bank's 13F filing for Q4 2019, filed 6 Feb 2020.