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 |
Viatris
VTRS
|
+$46.9M |
| 2 |
Cloudflare
NET
|
+$38.2M |
| 3 |
10x Genomics
TXG
|
+$33.7M |
| 4 |
Teladoc Health
TDOC
|
+$31.9M |
| 5 |
Pinduoduo
PDD
|
+$31.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$349M |
| 2 |
Microsoft
MSFT
|
+$191M |
| 3 |
Amazon
AMZN
|
+$136M |
| 4 |
Meta Platforms (Facebook)
META
|
+$77M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$73.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.63% |
| 2 | Healthcare | 14.53% |
| 3 | Consumer Discretionary | 13.88% |
| 4 | Communication Services | 10.7% |
| 5 | Industrials | 8.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ACIA
1226
DELISTED
Acacia Communications Inc
ACIA
| $6.24M | ﹤0.01% |
85,500
+300
| +0.4% | +$20.7K |
|
|
DOO
1227
Bombardier Recreational Products
DOO
$4.71B
| $6.23M | ﹤0.01% |
94,300
| – | – |
|
1228
Vishay Intertechnology
VSH
$5.39B
| $6.22M | ﹤0.01% |
300,400
| – | – |
|
1229
Federated Hermes
FHI
$4.71B
| $6.22M | ﹤0.01% |
215,217
-2,100
| -1% | -$55.9K |
|
1230
Badger Meter
BMI
$3.71B
| $6.21M | ﹤0.01% |
66,000
| – | – |
|
|
PSB
1231
DELISTED
PS Business Parks, Inc.
PSB
| $6.21M | ﹤0.01% |
46,708
| – | – |
|
1232
Apple Hospitality REIT
APLE
$3.79B
| $6.19M | ﹤0.01% |
479,410
-1,200
| -0.2% | -$14.2K |
|
1233
KB Home
KBH
$3.42B
| $6.18M | ﹤0.01% |
184,500
| – | – |
|
1234
Old National Bancorp
ONB
$10.4B
| $6.18M | ﹤0.01% |
373,284
-900
| -0.2% | -$13.8K |
|
1235
Avista
AVA
$3.26B
| $6.16M | ﹤0.01% |
153,500
+1,000
| +0.7% | +$36.7K |
|
1236
Walker & Dunlop
WD
$1.48B
| $6.16M | ﹤0.01% |
66,900
| – | – |
|
1237
STAAR Surgical
STAA
$1.28B
| $6.16M | ﹤0.01% |
77,700
+1,000
| +1% | +$73.2K |
|
1238
Franklin Electric
FELE
$4.68B
| $6.15M | ﹤0.01% |
88,900
| – | – |
|
1239
AppFolio
APPF
$7.12B
| $6.14M | ﹤0.01% |
34,100
| – | – |
|
1240
Simply Good Foods
SMPL
$993M
| $6.1M | ﹤0.01% |
194,600
| – | – |
|
1241
Upwork
UPWK
$1.07B
| $6.1M | ﹤0.01% |
176,800
+7,200
| +4% | +$206K |
|
1242
Grocery Outlet
GO
$1.06B
| $6.1M | ﹤0.01% |
155,300
+800
| +0.5% | +$32.3K |
|
1243
Agios Pharmaceuticals
AGIO
$1.97B
| $6.09M | ﹤0.01% |
140,560
| – | – |
|
1244
ESCO Technologies
ESE
$7.85B
| $6.09M | ﹤0.01% |
59,000
| – | – |
|
1245
H.B. Fuller
FUL
$3.3B
| $6.04M | ﹤0.01% |
116,500
| – | – |
|
1246
Insight Enterprises
NSIT
$4.56B
| $6.04M | ﹤0.01% |
79,400
| – | – |
|
1247
Integer Holdings
ITGR
$4.25B
| $6.04M | ﹤0.01% |
74,400
| – | – |
|
1248
California Water Service
CWT
$3.1B
| $6.04M | ﹤0.01% |
111,700
+1,300
| +1% | +$64K |
|
|
PPBI
1249
DELISTED
Pacific Premier Bancorp
PPBI
| $6.01M | ﹤0.01% |
191,957
-800
| -0.4% | -$22.2K |
|
1250
Tower Semiconductor
TSEM
$29.8B
| $6.01M | ﹤0.01% |
232,107
+1,075
| +0.5% | +$24.6K |
|
Similar funds
Swiss National Bank's Q4 2020 Portfolio in Review
As of Q4 2020, Swiss National Bank held 2,555 positions worth $141B, up 10% from $128B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Swiss National Bank's Q4 2020 filing shows 125 new, 501 increased, 893 reduced and 65 closed positions. Its largest new stake was Cloudflare: 582,300 shares worth $44.2M. The largest sale was Apple, an estimated $349M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q4 2020 buy was Cloudflare: 582,300 shares worth $44.2M.
- Swiss National Bank added most to Viatris in Q4 2020, an estimated $46.9M increase.
- Swiss National Bank's biggest Q4 2020 reduction was Apple, cutting an estimated $349M.
- Swiss National Bank fully exited Immunomedics Inc in Q4 2020, selling an estimated $37.8M.
- Swiss National Bank's ten largest holdings make up 24% of its $141B portfolio in Q4 2020.
- Swiss National Bank opened 125 new positions and closed 65 in Q4 2020.
- Swiss National Bank's portfolio value rose 10% quarter-over-quarter to $141B.
Based on Swiss National Bank's 13F filing for Q4 2020, filed 5 Feb 2021.