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 | |
|---|---|---|---|---|---|---|
2051
Adtran
ADTN
$658M
| $1.83M | ﹤0.01% |
109,600
+1,500
| +1% | +$25.3K |
|
2052
MGP Ingredients
MGPI
$389M
| $1.83M | ﹤0.01% |
30,900
+400
| +1% | +$24.3K |
|
|
AVTA
2053
DELISTED
Avantax, Inc. Common Stock
AVTA
| $1.83M | ﹤0.01% |
109,800
+1,400
| +1% | +$23.5K |
|
2054
Dillards
DDS
$9.59B
| $1.82M | ﹤0.01% |
18,900
-900
| -5% | -$73.1K |
|
2055
Acco Brands
ACCO
$399M
| $1.82M | ﹤0.01% |
215,900
+2,300
| +1% | +$19.8K |
|
2056
Orthofix Medical
OFIX
$415M
| $1.82M | ﹤0.01% |
42,000
+700
| +2% | +$30.9K |
|
2057
Marcus & Millichap
MMI
$1.2B
| $1.82M | ﹤0.01% |
54,000
+600
| +1% | +$22.1K |
|
2058
Magnachip Semiconductor
MX
$137M
| $1.82M | ﹤0.01% |
73,100
+1,600
| +2% | +$31.4K |
|
2059
OneSpan
OSPN
$624M
| $1.82M | ﹤0.01% |
74,300
+1,200
| +2% | +$29.4K |
|
2060
Health Catalyst
HCAT
$132M
| $1.82M | ﹤0.01% |
38,900
+3,000
| +8% | +$145K |
|
2061
Varex Imaging
VREX
$780M
| $1.82M | ﹤0.01% |
88,640
| – | – |
|
2062
Zentalis Pharmaceuticals
ZNTL
$297M
| $1.81M | ﹤0.01% |
41,800
+1,100
| +3% | +$47.4K |
|
2063
John B. Sanfilippo & Son
JBSS
$1.01B
| $1.8M | ﹤0.01% |
19,976
| – | – |
|
|
TBI
2064
Trueblue
TBI
$309M
| $1.8M | ﹤0.01% |
81,900
| – | – |
|
2065
XPEL
XPEL
$1.39B
| $1.8M | ﹤0.01% |
34,700
+400
| +1% | +$21.5K |
|
|
ABTX
2066
DELISTED
Allegiance Bancshares
ABTX
| $1.8M | ﹤0.01% |
44,400
+500
| +1% | +$19.1K |
|
2067
Argan
AGX
$7.84B
| $1.8M | ﹤0.01% |
33,700
| – | – |
|
|
EBIX
2068
DELISTED
Ebix Inc
EBIX
| $1.79M | ﹤0.01% |
55,900
| – | – |
|
|
EXK
2069
Endeavour Silver
EXK
$3.05B
| $1.79M | ﹤0.01% |
361,600
+9,200
| +3% | +$49.4K |
|
2070
Ingles Markets
IMKTA
$1.68B
| $1.79M | ﹤0.01% |
29,000
| – | – |
|
2071
BRC Group Holdings
RILY
$303M
| $1.79M | ﹤0.01% |
31,700
| – | – |
|
|
ARR
2072
Armour Residential REIT
ARR
$2.37B
| $1.79M | ﹤0.01% |
29,282
| – | – |
|
|
CKH
2073
DELISTED
Seacor Holdings Inc.
CKH
| $1.78M | ﹤0.01% |
43,800
| – | – |
|
2074
Innoviva
INVA
$1.5B
| $1.78M | ﹤0.01% |
149,300
| – | – |
|
2075
Monarch Casino & Resort
MCRI
$2.2B
| $1.77M | ﹤0.01% |
29,211
+400
| +1% | +$24.4K |
|
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.