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 |
Viatris
VTRS
|
+$46.9M |
| 2 |
Cloudflare
NET
|
+$38.2M |
| 3 |
10x Genomics
TXG
|
+$33.7M |
| 4 |
Teladoc Health
TDOC
|
+$31.9M |
| 5 |
Pinduoduo
PDD
|
+$31.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$349M |
| 2 |
Microsoft
MSFT
|
+$191M |
| 3 |
Amazon
AMZN
|
+$136M |
| 4 |
Meta Platforms (Facebook)
META
|
+$77M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$73.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.63% |
| 2 | Healthcare | 14.53% |
| 3 | Consumer Discretionary | 13.88% |
| 4 | Communication Services | 10.7% |
| 5 | Industrials | 8.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1751
Greif
GEF
$5B
| $2.65M | ﹤0.01% |
56,500
| – | – |
|
1752
Clean Energy Fuels
CLNE
$403M
| $2.65M | ﹤0.01% |
336,958
-5,800
| -2% | -$22.6K |
|
|
CVGW
1753
DELISTED
Calavo Growers
CVGW
| $2.63M | ﹤0.01% |
37,900
| – | – |
|
|
WW
1754
DELISTED
WW International
WW
| $2.63M | ﹤0.01% |
107,600
+500
| +0.5% | +$13K |
|
|
SWCH
1755
DELISTED
Switch, Inc. Class A Common Stock
SWCH
| $2.62M | ﹤0.01% |
160,100
+8,100
| +5% | +$127K |
|
1756
Radware
RDWR
$1.23B
| $2.62M | ﹤0.01% |
94,300
| – | – |
|
1757
Cerus
CERS
$605M
| $2.6M | ﹤0.01% |
375,700
+4,000
| +1% | +$26.2K |
|
|
GWB
1758
DELISTED
Great Western Bancorp, Inc.
GWB
| $2.6M | ﹤0.01% |
124,400
-1,000
| -0.8% | -$16.5K |
|
1759
Triumph Financial Inc
TFIN
$1.87B
| $2.59M | ﹤0.01% |
53,400
+1,200
| +2% | +$54K |
|
|
FOCS
1760
DELISTED
Focus Financial Partners Inc. Class A
FOCS
| $2.59M | ﹤0.01% |
59,600
| – | – |
|
|
VBTX
1761
DELISTED
Veritex Holdings
VBTX
| $2.59M | ﹤0.01% |
101,017
-1,600
| -2% | -$35.2K |
|
1762
nLIGHT
LASR
$3.01B
| $2.58M | ﹤0.01% |
79,100
+600
| +0.8% | +$17K |
|
1763
Pathward Financial
CASH
$1.79B
| $2.58M | ﹤0.01% |
70,600
| – | – |
|
1764
Sturm, Ruger & Co
RGR
$598M
| $2.58M | ﹤0.01% |
39,600
| – | – |
|
|
SCS
1765
DELISTED
Steelcase
SCS
| $2.57M | ﹤0.01% |
189,700
| – | – |
|
|
SA
1766
Seabridge Gold
SA
$3.61B
| $2.57M | ﹤0.01% |
122,000
+2,500
| +2% | +$48.4K |
|
1767
FB Financial Corp
FBK
$3.08B
| $2.56M | ﹤0.01% |
73,783
| – | – |
|
1768
JetBlue
JBLU
$2.11B
| $2.56M | ﹤0.01% |
176,000
+23,200
| +15% | +$318K |
|
|
VRE
1769
DELISTED
Veris Residential
VRE
| $2.56M | ﹤0.01% |
205,300
| – | – |
|
1770
Simulations Plus
SLP
$371M
| $2.55M | ﹤0.01% |
35,500
| – | – |
|
1771
Archrock
AROC
$6.05B
| $2.55M | ﹤0.01% |
294,600
| – | – |
|
|
IMGN
1772
DELISTED
Immunogen Inc
IMGN
| $2.55M | ﹤0.01% |
395,300
| – | – |
|
1773
Upland Software
UPLD
$15.7M
| $2.55M | ﹤0.01% |
5,550
| – | – |
|
1774
BGC Group
BGC
$5.28B
| $2.54M | ﹤0.01% |
635,708
| – | – |
|
|
MTSC
1775
DELISTED
MTS Systems Corp
MTSC
| $2.54M | ﹤0.01% |
43,700
| – | – |
|
Similar funds
Swiss National Bank's Q4 2020 Portfolio in Review
As of Q4 2020, Swiss National Bank held 2,555 positions worth $141B, up 10% from $128B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Swiss National Bank's Q4 2020 filing shows 125 new, 501 increased, 893 reduced and 65 closed positions. Its largest new stake was Cloudflare: 582,300 shares worth $44.2M. The largest sale was Apple, an estimated $349M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q4 2020 buy was Cloudflare: 582,300 shares worth $44.2M.
- Swiss National Bank added most to Viatris in Q4 2020, an estimated $46.9M increase.
- Swiss National Bank's biggest Q4 2020 reduction was Apple, cutting an estimated $349M.
- Swiss National Bank fully exited Immunomedics Inc in Q4 2020, selling an estimated $37.8M.
- Swiss National Bank's ten largest holdings make up 24% of its $141B portfolio in Q4 2020.
- Swiss National Bank opened 125 new positions and closed 65 in Q4 2020.
- Swiss National Bank's portfolio value rose 10% quarter-over-quarter to $141B.
Based on Swiss National Bank's 13F filing for Q4 2020, filed 5 Feb 2021.