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 |
Linde
LIN
|
+$303M |
| 2 |
General Dynamics
GD
|
+$147M |
| 3 |
Cigna
CI
|
+$95.5M |
| 4 |
CVS Health
CVS
|
+$85.5M |
| 5 |
Marathon Petroleum
MPC
|
+$52.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$234M |
| 2 |
Northrop Grumman
NOC
|
+$218M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$170M |
| 4 |
PX
Praxair Inc
PX
|
+$168M |
| 5 |
COL
Rockwell Collins
COL
|
+$116M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.9% |
| 2 | Healthcare | 16.26% |
| 3 | Consumer Discretionary | 11.53% |
| 4 | Communication Services | 10.15% |
| 5 | Industrials | 9.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GG
251
DELISTED
Goldcorp Inc
GG
| $65.2M | 0.08% |
6,650,300
-29,000
| -0.4% | -$281K |
|
252
PACCAR
PCAR
$69.1B
| $65.1M | 0.08% |
1,708,808
+24,150
| +1% | +$964K |
|
253
Palo Alto Networks
PANW
$314B
| $65.1M | 0.08% |
2,072,400
+45,600
| +2% | +$1.42M |
|
254
Darden Restaurants
DRI
$24.9B
| $64.8M | 0.08% |
648,841
+3,200
| +0.5% | +$342K |
|
255
Willis Towers Watson
WTW
$31.9B
| $64.6M | 0.08% |
425,091
+4,300
| +1% | +$644K |
|
256
Rogers Communications
RCI
$18.7B
| $64.5M | 0.08% |
1,258,500
-9,100
| -0.7% | -$472K |
|
257
Hormel Foods
HRL
$13.6B
| $64.5M | 0.08% |
1,511,794
+135,500
| +10% | +$5.84M |
|
258
Parker-Hannifin
PH
$134B
| $64.2M | 0.08% |
430,232
+5,800
| +1% | +$939K |
|
259
Verisk Analytics
VRSK
$23.6B
| $64M | 0.08% |
586,943
+5,500
| +0.9% | +$643K |
|
|
TWTR
260
DELISTED
Twitter, Inc.
TWTR
| $63.7M | 0.08% |
2,217,300
+54,800
| +3% | +$1.72M |
|
261
Hewlett Packard
HPE
$72.4B
| $63.6M | 0.08% |
4,817,792
-56,700
| -1% | -$849K |
|
262
Cintas
CTAS
$81.1B
| $62.3M | 0.08% |
1,482,992
+9,600
| +0.7% | +$429K |
|
263
F5
FFIV
$23.2B
| $61.6M | 0.08% |
379,964
-1,300
| -0.3% | -$223K |
|
264
CMS Energy
CMS
$21.7B
| $61.2M | 0.08% |
1,233,300
+12,900
| +1% | +$652K |
|
265
IQVIA
IQV
$39.8B
| $61.2M | 0.08% |
526,819
+14,300
| +3% | +$1.73M |
|
|
INFO
266
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $61.1M | 0.08% |
1,274,357
+25,100
| +2% | +$1.28M |
|
267
SBA Communications
SBAC
$19.2B
| $60.5M | 0.08% |
373,551
+5,900
| +2% | +$960K |
|
268
Rockwell Automation
ROK
$48.3B
| $60.2M | 0.08% |
400,336
-600
| -0.1% | -$100K |
|
269
Synopsys
SNPS
$78.8B
| $60.1M | 0.08% |
713,836
-20,700
| -3% | -$1.84M |
|
270
Stanley Black & Decker
SWK
$15.5B
| $59.6M | 0.08% |
497,464
+4,900
| +1% | +$612K |
|
271
FirstEnergy
FE
$27.1B
| $59.3M | 0.08% |
1,579,981
+57,500
| +4% | +$2.18M |
|
272
Omnicom Group
OMC
$23.2B
| $59.3M | 0.08% |
809,877
+2,700
| +0.3% | +$200K |
|
273
American Water Works
AWK
$26.9B
| $58.6M | 0.08% |
645,722
+17,500
| +3% | +$1.6M |
|
274
Boston Properties
BXP
$10.8B
| $56.5M | 0.07% |
502,335
+9,600
| +2% | +$1.16M |
|
275
Advanced Micro Devices
AMD
$767B
| $55.6M | 0.07% |
3,010,700
+71,000
| +2% | +$1.54M |
|
Similar funds
Swiss National Bank's Q4 2018 Portfolio in Review
As of Q4 2018, Swiss National Bank held 2,591 positions worth $78B, down 13% from $89.8B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Swiss National Bank's Q4 2018 filing shows 87 new, 1,610 increased, 323 reduced and 55 closed positions. Its largest new stake was Linde: 1,915,836 shares worth $299M. The largest sale was Aetna Inc, an estimated $234M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q4 2018 buy was Linde: 1,915,836 shares worth $299M.
- Swiss National Bank added most to Cigna in Q4 2018, an estimated $95.5M increase.
- Swiss National Bank's biggest Q4 2018 reduction was Dell, cutting an estimated $52.3M.
- Swiss National Bank fully exited Aetna Inc in Q4 2018, selling an estimated $234M.
- Swiss National Bank's ten largest holdings make up 18% of its $78B portfolio in Q4 2018.
- Swiss National Bank opened 87 new positions and closed 55 in Q4 2018.
- Swiss National Bank's portfolio value fell 13% quarter-over-quarter to $78B.
Based on Swiss National Bank's 13F filing for Q4 2018, filed 13 Feb 2019.