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 | |
|---|---|---|---|---|---|---|
1901
BJ's Restaurants
BJRI
$1.43B
| $1.49M | ﹤0.01% |
39,200
| – | – |
|
1902
Stride
LRN
$3.45B
| $1.49M | ﹤0.01% |
73,100
+1,400
| +2% | +$29.9K |
|
|
RTLR
1903
DELISTED
Rattler Midstream LP Common Units
RTLR
| $1.49M | ﹤0.01% |
+83,600
| New | +$1.33M |
|
1904
OneSpaWorld
OSW
$2.73B
| $1.48M | ﹤0.01% |
+87,700
| New | +$1.38M |
|
1905
Madrigal Pharmaceuticals
MDGL
$11.8B
| $1.48M | ﹤0.01% |
16,200
+300
| +2% | +$29.1K |
|
1906
Par Pacific Holdings
PARR
$4.08B
| $1.48M | ﹤0.01% |
63,459
+3,100
| +5% | +$73.9K |
|
|
HAPN
1907
Happen Inc
HAPN
$2.27B
| $1.48M | ﹤0.01% |
116,860
+3,100
| +3% | +$40K |
|
|
DBD
1908
DELISTED
Diebold Nixdorf Incorporated
DBD
| $1.48M | ﹤0.01% |
139,659
+3,100
| +2% | +$27.5K |
|
1909
Cars.com
CARS
$652M
| $1.47M | ﹤0.01% |
120,600
| – | – |
|
1910
Horizon Bancorp
HBNC
$1.06B
| $1.47M | ﹤0.01% |
77,550
+1,500
| +2% | +$27.5K |
|
|
MIK
1911
DELISTED
Michaels Stores, Inc
MIK
| $1.47M | ﹤0.01% |
181,743
+5,700
| +3% | +$47.9K |
|
1912
Federal Agricultural Mortgage
AGM
$2.52B
| $1.47M | ﹤0.01% |
17,581
+400
| +2% | +$33.3K |
|
|
IMGN
1913
DELISTED
Immunogen Inc
IMGN
| $1.47M | ﹤0.01% |
286,900
+6,300
| +2% | +$21.4K |
|
|
MSGN
1914
DELISTED
MSG Networks Inc.
MSGN
| $1.47M | ﹤0.01% |
84,200
-30,900
| -27% | -$514K |
|
1915
Upland Software
UPLD
$16.4M
| $1.46M | ﹤0.01% |
4,100
+80
| +2% | +$29.9K |
|
|
FOCS
1916
DELISTED
Focus Financial Partners Inc. Class A
FOCS
| $1.46M | ﹤0.01% |
+49,600
| New | +$1.27M |
|
1917
NETGEAR
NTGR
$653M
| $1.46M | ﹤0.01% |
59,600
+500
| +0.8% | +$13.7K |
|
1918
John B. Sanfilippo & Son
JBSS
$1.01B
| $1.46M | ﹤0.01% |
15,976
+200
| +1% | +$19.4K |
|
1919
Griffon
GFF
$4.73B
| $1.46M | ﹤0.01% |
71,600
+1,900
| +3% | +$39.9K |
|
|
ALX
1920
Alexander's
ALX
$1.4B
| $1.45M | ﹤0.01% |
4,400
+100
| +2% | +$33.4K |
|
1921
E.W. Scripps
SSP
$316M
| $1.45M | ﹤0.01% |
92,416
+2,900
| +3% | +$41.4K |
|
|
KBAL
1922
DELISTED
Kimball International
KBAL
| $1.45M | ﹤0.01% |
70,200
+2,400
| +4% | +$49.5K |
|
|
RVNC
1923
DELISTED
Revance Therapeutics, Inc.
RVNC
| $1.44M | ﹤0.01% |
88,950
+15,600
| +21% | +$242K |
|
|
NFBK
1924
DELISTED
Northfield Bancorp
NFBK
| $1.44M | ﹤0.01% |
84,800
+1,600
| +2% | +$26.9K |
|
|
CMO
1925
DELISTED
Capstead Mortgage Corp.
CMO
| $1.44M | ﹤0.01% |
181,200
+4,100
| +2% | +$31.7K |
|
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.