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 | |
|---|---|---|---|---|---|---|
451
VICI Properties
VICI
$28.8B
| $37.1M | 0.04% |
1,453,600
+680,300
| +88% | +$16.4M |
|
452
Snap
SNAP
$9.22B
| $36.9M | 0.04% |
2,262,326
-23,600
| -1% | -$347K |
|
453
EPAM Systems
EPAM
$5.17B
| $36.7M | 0.04% |
173,049
-7,300
| -4% | -$1.44M |
|
454
NiSource
NI
$20.2B
| $36.7M | 0.04% |
1,318,055
-52,400
| -4% | -$1.44M |
|
455
Allegion
ALLE
$14.3B
| $36.7M | 0.04% |
294,419
-15,800
| -5% | -$1.82M |
|
456
Teradyne
TER
$58.7B
| $36.5M | 0.04% |
535,800
+213,400
| +66% | +$13.6M |
|
457
Domino's
DPZ
$11.8B
| $36.3M | 0.04% |
123,464
-5,500
| -4% | -$1.52M |
|
458
Roku
ROKU
$22.4B
| $36.1M | 0.04% |
269,474
-300
| -0.1% | -$41.2K |
|
459
Advance Auto Parts
AAP
$3.25B
| $36.1M | 0.04% |
225,252
-11,700
| -5% | -$1.87M |
|
460
American Financial Group
AFG
$12B
| $36.1M | 0.04% |
328,817
-9,100
| -3% | -$974K |
|
461
Vornado Realty Trust
VNO
$7.33B
| $36M | 0.04% |
541,487
-25,500
| -4% | -$1.65M |
|
|
DISCK
462
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $35.9M | 0.04% |
1,176,427
-14,300
| -1% | -$401K |
|
463
Credicorp
BAP
$29.9B
| $35.9M | 0.04% |
168,285
-68,860
| -29% | -$14.4M |
|
464
Twilio
TWLO
$39.2B
| $35.8M | 0.04% |
364,198
-3,800
| -1% | -$388K |
|
465
Qiagen
QGEN
$8.86B
| $35.5M | 0.04% |
978,166
-48,967
| -5% | -$1.82M |
|
466
Tractor Supply
TSCO
$18.5B
| $35.1M | 0.04% |
1,879,505
-112,000
| -6% | -$2.13M |
|
467
SiriusXM
SIRI
$9.68B
| $35.1M | 0.04% |
491,083
-41,490
| -8% | -$2.8M |
|
468
West Pharmaceutical
WST
$24.8B
| $35M | 0.04% |
232,700
+94,400
| +68% | +$13.7M |
|
|
WRK
469
DELISTED
WestRock Company
WRK
| $34.8M | 0.04% |
811,452
-37,400
| -4% | -$1.46M |
|
470
Avery Dennison
AVY
$13.6B
| $34.7M | 0.04% |
265,575
-13,100
| -5% | -$1.65M |
|
471
LKQ Corp
LKQ
$6.27B
| $34.7M | 0.04% |
971,745
-65,200
| -6% | -$2.21M |
|
472
AerCap
AER
$23.7B
| $34.5M | 0.04% |
561,833
-41,000
| -7% | -$2.41M |
|
|
MRO
473
DELISTED
Marathon Oil Corporation
MRO
| $34.4M | 0.04% |
2,535,265
-165,900
| -6% | -$2.02M |
|
474
Arista Networks
ANET
$246B
| $34.4M | 0.04% |
2,706,336
-128,000
| -5% | -$1.68M |
|
475
Globe Life
GL
$14.2B
| $34.4M | 0.04% |
326,750
-18,200
| -5% | -$1.81M |
|
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.