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 | |
|---|---|---|---|---|---|---|
1001
ATI
ATI
$30.9B
| $4.84M | 0.01% |
222,200
+2,900
| +1% | +$75.2K |
|
1002
Fulton Financial
FULT
$4.69B
| $4.82M | 0.01% |
311,100
+6,500
| +2% | +$106K |
|
1003
NCR Voyix
VYX
$1.17B
| $4.81M | 0.01% |
339,788
+3,912
| +1% | +$61.4K |
|
|
PGRE
1004
DELISTED
Paramount Group
PGRE
| $4.81M | 0.01% |
382,743
+6,000
| +2% | +$84.5K |
|
1005
Kennametal
KMT
$2.32B
| $4.81M | 0.01% |
144,400
+1,100
| +0.8% | +$41.8K |
|
|
VRNT
1006
DELISTED
Verint Systems
VRNT
| $4.79M | 0.01% |
222,212
+3,534
| +2% | +$81.2K |
|
|
CLGX
1007
DELISTED
Corelogic, Inc.
CLGX
| $4.79M | 0.01% |
143,300
| – | – |
|
1008
Saic
SAIC
$5.35B
| $4.78M | 0.01% |
75,015
+600
| +0.8% | +$41.8K |
|
1009
Energizer
ENR
$1.55B
| $4.77M | 0.01% |
105,725
+1,800
| +2% | +$95.6K |
|
1010
AMN Healthcare
AMN
$1.34B
| $4.76M | 0.01% |
84,000
+600
| +0.7% | +$33.7K |
|
1011
Rexford Industrial Realty
REXR
$8.12B
| $4.76M | 0.01% |
161,416
+20,000
| +14% | +$633K |
|
|
PSB
1012
DELISTED
PS Business Parks, Inc.
PSB
| $4.74M | 0.01% |
36,208
+700
| +2% | +$92.8K |
|
|
STMP
1013
DELISTED
Stamps.com, Inc.
STMP
| $4.74M | 0.01% |
30,466
+800
| +3% | +$142K |
|
|
CYBR
1014
DELISTED
CyberArk
CYBR
| $4.73M | 0.01% |
63,800
+900
| +1% | +$64.3K |
|
|
ISBC
1015
DELISTED
Investors Bancorp, Inc.
ISBC
| $4.73M | 0.01% |
454,676
| – | – |
|
1016
Columbia Banking Systems
COLB
$9.18B
| $4.7M | 0.01% |
129,607
+2,500
| +2% | +$93.6K |
|
1017
Columbia Sportswear
COLM
$2.96B
| $4.68M | 0.01% |
55,700
+900
| +2% | +$79.8K |
|
1018
Ingersoll Rand
IR
$32.7B
| $4.68M | 0.01% |
228,900
+39,200
| +21% | +$962K |
|
|
LHCG
1019
DELISTED
LHC Group LLC
LHCG
| $4.68M | 0.01% |
49,866
-1,700
| -3% | -$163K |
|
1020
MasTec
MTZ
$23B
| $4.68M | 0.01% |
115,300
| – | – |
|
1021
Cabot Corp
CBT
$4.45B
| $4.68M | 0.01% |
108,900
+600
| +0.6% | +$29.9K |
|
1022
Core Laboratories
CLB
$569M
| $4.67M | 0.01% |
78,200
+1,300
| +2% | +$112K |
|
1023
Exponent
EXPO
$3.24B
| $4.67M | 0.01% |
92,000
+2,200
| +2% | +$110K |
|
1024
Clean Harbors
CLH
$16.9B
| $4.66M | 0.01% |
94,500
| – | – |
|
1025
Choice Hotels
CHH
$4.71B
| $4.66M | 0.01% |
65,067
+1,100
| +2% | +$82.6K |
|
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.