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 | |
|---|---|---|---|---|---|---|
1301
Commercial Metals
CMC
$7.99B
| $5.54M | ﹤0.01% |
269,800
| – | – |
|
1302
Sunstone Hotel Investors
SHO
$2.04B
| $5.54M | ﹤0.01% |
488,749
| – | – |
|
1303
Korn Ferry
KFY
$4.3B
| $5.53M | ﹤0.01% |
127,200
+2,400
| +2% | +$88.3K |
|
1304
Clearway Energy Class C
CWEN
$7.07B
| $5.53M | ﹤0.01% |
173,150
+2,300
| +1% | +$69.1K |
|
1305
Teradata
TDC
$2.59B
| $5.53M | ﹤0.01% |
245,959
| – | – |
|
1306
Werner Enterprises
WERN
$2.34B
| $5.53M | ﹤0.01% |
140,900
| – | – |
|
1307
Cathay General Bancorp
CATY
$4.34B
| $5.51M | ﹤0.01% |
171,300
| – | – |
|
1308
SPX Corp
SPXC
$10.7B
| $5.51M | ﹤0.01% |
101,018
| – | – |
|
1309
Installed Building Products
IBP
$6.48B
| $5.51M | ﹤0.01% |
54,033
| – | – |
|
|
B
1310
DELISTED
Barnes Group Inc.
B
| $5.5M | ﹤0.01% |
108,600
| – | – |
|
1311
Commault Systems
CVLT
$6.05B
| $5.5M | ﹤0.01% |
99,400
| – | – |
|
|
KC
1312
Kingsoft Cloud Holdings
KC
$3.49B
| $5.5M | ﹤0.01% |
+126,216
| New | +$4.67M |
|
1313
Pacira BioSciences
PCRX
$930M
| $5.49M | ﹤0.01% |
91,800
+1,100
| +1% | +$64.4K |
|
1314
CNX Resources
CNX
$5.3B
| $5.48M | ﹤0.01% |
507,758
| – | – |
|
1315
EPR Properties
EPR
$4.73B
| $5.48M | ﹤0.01% |
168,688
-6,700
| -4% | -$197K |
|
1316
Terex
TEX
$7.73B
| $5.47M | ﹤0.01% |
156,700
-1,100
| -0.7% | -$32.5K |
|
|
MANT
1317
DELISTED
Mantech International Corp
MANT
| $5.46M | ﹤0.01% |
61,387
| – | – |
|
1318
Independent Bank
INDB
$4.08B
| $5.45M | ﹤0.01% |
74,678
| – | – |
|
|
OPLN
1319
Openlane
OPLN
$4.38B
| $5.45M | ﹤0.01% |
292,900
| – | – |
|
1320
NovaGold Resources
NG
$3.52B
| $5.45M | ﹤0.01% |
562,600
| – | – |
|
1321
Evertec
EVTC
$1.89B
| $5.45M | ﹤0.01% |
138,474
| – | – |
|
|
CSOD
1322
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $5.44M | ﹤0.01% |
123,600
+600
| +0.5% | +$24.8K |
|
1323
Stepan Co
SCL
$1.48B
| $5.44M | ﹤0.01% |
45,600
-200
| -0.4% | -$23.5K |
|
1324
Dycom Industries
DY
$12.4B
| $5.44M | ﹤0.01% |
72,000
+300
| +0.4% | +$20.7K |
|
|
THS
1325
DELISTED
Treehouse Foods
THS
| $5.44M | ﹤0.01% |
127,951
| – | – |
|
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.