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 |
Microsoft
MSFT
|
+$111M |
| 2 |
Ferguson
FERG
|
+$106M |
| 3 |
Apple
AAPL
|
+$103M |
| 4 |
Amazon
AMZN
|
+$103M |
| 5 |
Tesla
TSLA
|
+$75.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TIF
Tiffany & Co.
TIF
|
+$96.7M |
| 2 |
DuPont de Nemours
DD
|
+$51.9M |
| 3 |
CXO
CONCHO RESOURCES INC.
CXO
|
+$43.4M |
| 4 |
AvalonBay Communities
AVB
|
+$36.1M |
| 5 |
Equity Residential
EQR
|
+$21.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.7% |
| 2 | Healthcare | 14.14% |
| 3 | Consumer Discretionary | 13.71% |
| 4 | Communication Services | 10.92% |
| 5 | Industrials | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2001
Warrior Met Coal
HCC
$4.98B
| $2M | ﹤0.01% |
117,000
+1,000
| +0.9% | +$21.1K |
|
|
SA
2002
Seabridge Gold
SA
$3.46B
| $2M | ﹤0.01% |
123,900
+1,900
| +2% | +$35.4K |
|
2003
SI-BONE Inc
SIBN
$849M
| $2M | ﹤0.01% |
62,900
+1,700
| +3% | +$52.3K |
|
2004
AMC Entertainment Holdings
AMC
$2.35B
| $2M | ﹤0.01% |
19,564
+6,550
| +50% | +$501K |
|
2005
SiriusPoint
SPNT
$2.7B
| $2M | ﹤0.01% |
196,400
+2,900
| +1% | +$29.4K |
|
2006
Cars.com
CARS
$672M
| $2M | ﹤0.01% |
153,900
+1,700
| +1% | +$22.3K |
|
2007
Zumiez
ZUMZ
$319M
| $2M | ﹤0.01% |
46,500
+500
| +1% | +$22.3K |
|
|
LBAI
2008
DELISTED
Lakeland Bancorp Inc
LBAI
| $1.99M | ﹤0.01% |
114,385
| – | – |
|
|
CWEN.A
2009
DELISTED
Clearway Energy Class A
CWEN.A
| $1.99M | ﹤0.01% |
75,150
+700
| +0.9% | +$20.2K |
|
|
GBIO
2010
DELISTED
Generation Bio
GBIO
| $1.99M | ﹤0.01% |
7,000
+4,380
| +167% | +$1.4M |
|
|
HNGR
2011
DELISTED
Hanger Inc.
HNGR
| $1.99M | ﹤0.01% |
87,100
+1,400
| +2% | +$32.1K |
|
|
LGF.A
2012
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $1.99M | ﹤0.01% |
132,850
+1,900
| +1% | +$28.5K |
|
|
NTUS
2013
DELISTED
Natus Medical Inc
NTUS
| $1.98M | ﹤0.01% |
77,400
+1,300
| +2% | +$33.3K |
|
|
ANAT
2014
DELISTED
American National Group, Inc. Common Stock
ANAT
| $1.98M | ﹤0.01% |
18,313
| – | – |
|
|
EBSB
2015
DELISTED
Meridian Bancorp, Inc.
EBSB
| $1.98M | ﹤0.01% |
107,200
| – | – |
|
2016
Heartland Express
HTLD
$979M
| $1.97M | ﹤0.01% |
100,800
| – | – |
|
|
AAN
2017
DELISTED
The Aaron's Company Inc
AAN
| $1.97M | ﹤0.01% |
76,700
+800
| +1% | +$17.5K |
|
2018
Quanex
NX
$981M
| $1.97M | ﹤0.01% |
75,000
+1,100
| +1% | +$27.4K |
|
2019
Andersons Inc
ANDE
$2.21B
| $1.96M | ﹤0.01% |
71,650
+900
| +1% | +$23.8K |
|
|
SVM
2020
Silvercorp Metals
SVM
$2.61B
| $1.96M | ﹤0.01% |
398,400
| – | – |
|
2021
Center Bancorp
CNOB
$1.81B
| $1.96M | ﹤0.01% |
77,300
+1,600
| +2% | +$37.7K |
|
|
NP
2022
DELISTED
Neenah, Inc. Common Stock
NP
| $1.96M | ﹤0.01% |
38,100
| – | – |
|
|
SPNS
2023
DELISTED
Sapiens International
SPNS
| $1.94M | ﹤0.01% |
61,667
+4,531
| +8% | +$147K |
|
|
PRSU
2024
Pursuit Attractions and Hospitality Inc
PRSU
$1.29B
| $1.94M | ﹤0.01% |
46,400
| – | – |
|
2025
Photronics
PLAB
$1.97B
| $1.93M | ﹤0.01% |
149,900
+2,200
| +1% | +$26.6K |
|
Similar funds
Swiss National Bank's Q1 2021 Portfolio in Review
As of Q1 2021, Swiss National Bank held 2,502 positions worth $150B, up 6.6% from $141B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Trading was light in Q1 2021: portfolio turnover was 1.3%. Swiss National Bank opened 12 new positions and exited 20, leaving the 2,502-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q1 2021 buy was Ferguson: 872,392 shares worth $104M.
- Swiss National Bank added most to Microsoft in Q1 2021, an estimated $111M increase.
- Swiss National Bank's biggest Q1 2021 reduction was DuPont de Nemours, cutting an estimated $51.9M.
- Swiss National Bank fully exited Tiffany & Co. in Q1 2021, selling an estimated $96.7M.
- Swiss National Bank's ten largest holdings make up 23% of its $150B portfolio in Q1 2021.
- Swiss National Bank opened 12 new positions and closed 20 in Q1 2021.
- Swiss National Bank's portfolio value rose 6.6% quarter-over-quarter to $150B.
Based on Swiss National Bank's 13F filing for Q1 2021, filed 7 May 2021.