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 | 21.49% |
| 2 | Healthcare | 14.66% |
| 3 | Consumer Discretionary | 11.66% |
| 4 | Communication Services | 10.19% |
| 5 | Industrials | 9.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Amcor
AMCR
$21.8B
| $60.7M | 0.06% |
1,120,310
-46,320
| -4% | -$2.32M |
|
327
Extra Space Storage
EXR
$31B
| $60.6M | 0.06% |
573,801
-2,700
| -0.5% | -$294K |
|
328
Vulcan Materials
VMC
$37B
| $60.1M | 0.06% |
417,119
-19,100
| -4% | -$2.73M |
|
329
Restaurant Brands International
QSR
$25.4B
| $59.4M | 0.06% |
933,461
+41,600
| +5% | +$2.78M |
|
330
Conagra Brands
CAG
$7.07B
| $59.3M | 0.06% |
1,732,890
-97,400
| -5% | -$2.82M |
|
331
Western Digital
WDC
$151B
| $59.2M | 0.06% |
1,234,855
-45,114
| -4% | -$1.88M |
|
332
Copart
CPRT
$27.4B
| $59.1M | 0.06% |
2,600,420
-123,600
| -5% | -$2.64M |
|
333
Coca-Cola Europacific Partners
CCEP
$46.9B
| $59.1M | 0.06% |
1,161,703
-69,800
| -6% | -$3.68M |
|
334
D.R. Horton
DHI
$41B
| $58.4M | 0.06% |
1,107,756
-63,100
| -5% | -$3.37M |
|
335
Alexandria Real Estate Equities
ARE
$8.32B
| $57.8M | 0.06% |
357,695
-15,300
| -4% | -$2.41M |
|
|
HES
336
DELISTED
Hess
HES
| $57.7M | 0.06% |
864,016
-37,800
| -4% | -$2.47M |
|
337
Veeva Systems
VEEV
$38.1B
| $57.7M | 0.06% |
410,156
-11,800
| -3% | -$1.73M |
|
338
Magna International
MGA
$18.7B
| $57M | 0.06% |
1,041,500
-93,400
| -8% | -$5.06M |
|
|
Y
339
DELISTED
Alleghany Corp
Y
| $56.1M | 0.06% |
70,122
+7,734
| +12% | +$6.04M |
|
|
CXO
340
DELISTED
CONCHO RESOURCES INC.
CXO
| $55.5M | 0.06% |
634,209
-28,200
| -4% | -$2.03M |
|
341
Federal Realty Investment Trust
FRT
$10.2B
| $55.4M | 0.06% |
430,150
-7,700
| -2% | -$1.02M |
|
342
Burlington
BURL
$23.4B
| $55.4M | 0.06% |
242,752
-17,200
| -7% | -$3.6M |
|
343
Genuine Parts
GPC
$18.5B
| $55.2M | 0.06% |
519,498
-20,300
| -4% | -$2.09M |
|
344
Martin Marietta Materials
MLM
$33B
| $55.1M | 0.06% |
196,896
-9,400
| -5% | -$2.51M |
|
345
Teleflex
TFX
$5.89B
| $54.9M | 0.06% |
145,858
-6,600
| -4% | -$2.27M |
|
346
Gartner
IT
$12.2B
| $54.4M | 0.06% |
353,006
-11,700
| -3% | -$1.79M |
|
347
Pinnacle West Capital
PNW
$12B
| $54.3M | 0.06% |
604,146
+85,200
| +16% | +$7.69M |
|
348
NetEase
NTES
$85.4B
| $54.3M | 0.06% |
884,890
-311,525
| -26% | -$18.3M |
|
349
International Paper
IP
$21.9B
| $54.2M | 0.06% |
1,242,710
-73,709
| -6% | -$3.09M |
|
350
Nucor
NUE
$62.5B
| $53.8M | 0.06% |
955,897
-50,600
| -5% | -$2.76M |
|
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 21% of assets, up from 20% 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.