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 | |
|---|---|---|---|---|---|---|
626
Sarepta Therapeutics
SRPT
$1.92B
| $12.2M | 0.02% |
111,600
+3,000
| +3% | +$375K |
|
|
VISN
627
Vistance Networks Inc
VISN
$2.7B
| $12.2M | 0.02% |
742,800
+45,100
| +6% | +$956K |
|
628
US Foods
USFD
$24.3B
| $12.1M | 0.02% |
383,755
+7,700
| +2% | +$237K |
|
629
Tyler Technologies
TYL
$13.2B
| $12.1M | 0.02% |
64,958
+1,500
| +2% | +$296K |
|
630
Molina Healthcare
MOH
$10.2B
| $12.1M | 0.02% |
103,700
+1,500
| +1% | +$197K |
|
631
American Airlines Group
AAL
$10.1B
| $12M | 0.02% |
373,300
| – | – |
|
632
Gaming and Leisure Properties
GLPI
$12.4B
| $11.6M | 0.01% |
359,099
+5,300
| +1% | +$179K |
|
633
Brown & Brown
BRO
$23.9B
| $11.6M | 0.01% |
419,800
+10,900
| +3% | +$308K |
|
634
Twilio
TWLO
$39.3B
| $11.5M | 0.01% |
129,100
+10,000
| +8% | +$812K |
|
635
Neurocrine Biosciences
NBIX
$16.5B
| $11.5M | 0.01% |
161,000
+4,500
| +3% | +$431K |
|
636
Herbalife
HLF
$1.23B
| $11.5M | 0.01% |
194,572
-7,000
| -3% | -$386K |
|
|
ACB
637
Aurora Cannabis
ACB
$216M
| $11.5M | 0.01% |
+19,231
| New | +$14.2M |
|
638
Booz Allen Hamilton
BAH
$9.45B
| $11.4M | 0.01% |
253,757
| – | – |
|
639
Guidewire Software
GWRE
$14.7B
| $11.4M | 0.01% |
142,518
+3,700
| +3% | +$323K |
|
|
OPLN
640
Openlane
OPLN
$4.48B
| $11.3M | 0.01% |
627,475
+5,812
| +0.9% | +$121K |
|
|
BKI
641
DELISTED
Black Knight, Inc. Common Stock
BKI
| $11.3M | 0.01% |
251,000
+1,000
| +0.4% | +$46.9K |
|
642
Kilroy Realty
KRC
$4.24B
| $11.2M | 0.01% |
177,811
+5,400
| +3% | +$370K |
|
643
Mattel
MAT
$4.29B
| $11.2M | 0.01% |
1,117,950
+19,800
| +2% | +$262K |
|
|
IDTI
644
DELISTED
Integrated Device Technology I
IDTI
| $11.1M | 0.01% |
228,700
+3,200
| +1% | +$151K |
|
|
BERY
645
DELISTED
Berry Global Group, Inc.
BERY
| $11.1M | 0.01% |
253,757
+3,921
| +2% | +$167K |
|
646
Nordson
NDSN
$17.3B
| $11M | 0.01% |
92,527
+1,300
| +1% | +$160K |
|
|
FL
647
DELISTED
Foot Locker
FL
| $11M | 0.01% |
206,700
+700
| +0.3% | +$35.1K |
|
|
ZEN
648
DELISTED
ZENDESK INC
ZEN
| $10.9M | 0.01% |
187,352
+5,000
| +3% | +$288K |
|
649
Knight Transportation
KNX
$11.2B
| $10.9M | 0.01% |
434,196
+9,900
| +2% | +$307K |
|
650
Bright Horizons
BFAM
$3.76B
| $10.9M | 0.01% |
97,479
+1,300
| +1% | +$150K |
|
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.