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 | |
|---|---|---|---|---|---|---|
851
Brighthouse Financial
BHF
$3.43B
| $8.4M | 0.01% |
214,148
-127,310
| -37% | -$5.01M |
|
852
Kemper
KMPR
$1.59B
| $8.39M | 0.01% |
108,324
+4,400
| +4% | +$328K |
|
853
NewMarket
NEU
$8.65B
| $8.37M | 0.01% |
17,200
+300
| +2% | +$144K |
|
854
Ziff Davis
ZD
$1.9B
| $8.33M | 0.01% |
102,271
+1,610
| +2% | +$133K |
|
855
Carvana
CVNA
$82.2B
| $8.33M | 0.01% |
452,500
+15,000
| +3% | +$251K |
|
856
Armstrong World Industries
AWI
$7.72B
| $8.32M | 0.01% |
88,500
+900
| +1% | +$86K |
|
|
AXON
857
Axon Enterprise
AXON
$49.8B
| $8.31M | 0.01% |
113,400
+2,200
| +2% | +$139K |
|
|
CIT
858
DELISTED
CIT Group Inc.
CIT
| $8.3M | 0.01% |
+181,900
| New | +$8.15M |
|
|
RP
859
DELISTED
RealPage, Inc.
RP
| $8.29M | 0.01% |
154,200
+2,900
| +2% | +$165K |
|
|
STL
860
DELISTED
Sterling Bancorp
STL
| $8.28M | 0.01% |
392,864
-1,400
| -0.4% | -$28.6K |
|
861
KBR
KBR
$4.8B
| $8.26M | 0.01% |
270,941
+4,800
| +2% | +$135K |
|
|
HR
862
DELISTED
Healthcare Realty Trust Incorporated
HR
| $8.26M | 0.01% |
247,400
+4,200
| +2% | +$139K |
|
863
Affiliated Managers Group
AMG
$9.76B
| $8.24M | 0.01% |
+97,300
| New | +$7.98M |
|
864
First Financial Bankshares
FFIN
$5.03B
| $8.21M | 0.01% |
234,000
+4,100
| +2% | +$141K |
|
865
Repligen
RGEN
$9.48B
| $8.21M | 0.01% |
88,700
+7,300
| +9% | +$613K |
|
|
FL
866
DELISTED
Foot Locker
FL
| $8.19M | 0.01% |
210,000
-1,300
| -0.6% | -$54.8K |
|
867
Bath & Body Works
BBWI
$3.73B
| $8.18M | 0.01% |
558,382
-397,295
| -42% | -$5.74M |
|
868
Rayonier
RYN
$6.53B
| $8.13M | 0.01% |
273,463
+4,519
| +2% | +$123K |
|
869
Integra LifeSciences
IART
$1.42B
| $8.12M | 0.01% |
139,294
+2,600
| +2% | +$155K |
|
|
LOGM
870
DELISTED
LogMein, Inc.
LOGM
| $8.11M | 0.01% |
94,600
+800
| +0.9% | +$59.4K |
|
871
Ryman Hospitality Properties
RHP
$7.9B
| $8.1M | 0.01% |
93,500
+1,500
| +2% | +$129K |
|
872
NCR Voyix
VYX
$1.16B
| $8.1M | 0.01% |
375,648
+7,172
| +2% | +$140K |
|
873
Spire
SR
$4.89B
| $8.1M | 0.01% |
97,250
+1,700
| +2% | +$139K |
|
|
SF
874
Stifel
SF
$12.9B
| $8.07M | 0.01% |
299,570
| – | – |
|
|
GRA
875
DELISTED
W.R. Grace & Co.
GRA
| $8.03M | 0.01% |
114,900
+1,600
| +1% | +$107K |
|
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.