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 | |
|---|---|---|---|---|---|---|
|
CSFL
1301
DELISTED
CenterState Bank Corporation Common Stock
CSFL
| $3M | ﹤0.01% |
142,796
+1,900
| +1% | +$46K |
|
1302
Belden
BDC
$5.36B
| $3M | ﹤0.01% |
71,900
-1,700
| -2% | -$92.5K |
|
1303
Spectrum Brands
SPB
$2.09B
| $2.99M | ﹤0.01% |
70,799
+700
| +1% | +$40.5K |
|
1304
Advanced Energy
AEIS
$13.2B
| $2.98M | ﹤0.01% |
69,500
| – | – |
|
1305
Dycom Industries
DY
$12.3B
| $2.98M | ﹤0.01% |
55,200
+1,000
| +2% | +$67.2K |
|
1306
LCI Industries
LCII
$2.6B
| $2.98M | ﹤0.01% |
44,600
+1,100
| +3% | +$80.2K |
|
1307
Carpenter Technology
CRS
$26.6B
| $2.98M | ﹤0.01% |
83,600
+2,200
| +3% | +$99.2K |
|
1308
8x8 Inc
EGHT
$303M
| $2.98M | ﹤0.01% |
165,000
+2,800
| +2% | +$51.5K |
|
|
MDRX
1309
DELISTED
Veradigm Inc. Common Stock
MDRX
| $2.98M | ﹤0.01% |
308,800
-6,000
| -2% | -$66.9K |
|
|
PDCO
1310
DELISTED
Patterson Companies, Inc.
PDCO
| $2.98M | ﹤0.01% |
151,300
+1,200
| +0.8% | +$28K |
|
|
GCP
1311
DELISTED
GCP Applied Technologies Inc.
GCP
| $2.98M | ﹤0.01% |
121,200
+2,200
| +2% | +$56.5K |
|
1312
Capitol Federal Financial
CFFN
$1.09B
| $2.97M | ﹤0.01% |
232,300
+3,500
| +2% | +$45K |
|
1313
Atlantic Union Bankshares
AUB
$6.09B
| $2.96M | ﹤0.01% |
104,972
+2,500
| +2% | +$84.2K |
|
1314
Liberty Latin America Class C
LILAK
$1.65B
| $2.96M | ﹤0.01% |
237,378
+3,855
| +2% | +$59.5K |
|
1315
Itron
ITRI
$4.5B
| $2.96M | ﹤0.01% |
62,500
+1,800
| +3% | +$95.1K |
|
|
SEM
1316
DELISTED
Select Medical
SEM
| $2.94M | ﹤0.01% |
355,424
+11,322
| +3% | +$108K |
|
1317
Ares Management
ARES
$33.7B
| $2.94M | ﹤0.01% |
+165,266
| New | +$3.46M |
|
|
TPH
1318
DELISTED
Tri Pointe Homes
TPH
| $2.94M | ﹤0.01% |
268,847
+5,600
| +2% | +$66.2K |
|
1319
Northwest Bancshares
NWBI
$2.31B
| $2.94M | ﹤0.01% |
173,300
+4,200
| +2% | +$70.9K |
|
|
ESGR
1320
DELISTED
Enstar Group
ESGR
| $2.93M | ﹤0.01% |
17,500
+300
| +2% | +$54.3K |
|
|
NAVG
1321
DELISTED
Navigators Group Inc
NAVG
| $2.93M | ﹤0.01% |
42,100
+800
| +2% | +$55.5K |
|
1322
NETGEAR
NTGR
$647M
| $2.92M | ﹤0.01% |
56,200
+1,100
| +2% | +$59.4K |
|
|
LTC
1323
LTC Properties
LTC
$2.1B
| $2.92M | ﹤0.01% |
70,062
+1,400
| +2% | +$61.3K |
|
1324
SM Energy
SM
$7.71B
| $2.92M | ﹤0.01% |
188,350
+3,600
| +2% | +$83.3K |
|
1325
Plexus
PLXS
$7.04B
| $2.91M | ﹤0.01% |
57,000
-1,500
| -3% | -$84.5K |
|
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.