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 |
Microsoft
MSFT
|
+$111M |
| 2 |
Ferguson
FERG
|
+$106M |
| 3 |
Apple
AAPL
|
+$103M |
| 4 |
Amazon
AMZN
|
+$103M |
| 5 |
Tesla
TSLA
|
+$75.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TIF
Tiffany & Co.
TIF
|
+$96.7M |
| 2 |
DuPont de Nemours
DD
|
+$51.9M |
| 3 |
CXO
CONCHO RESOURCES INC.
CXO
|
+$43.4M |
| 4 |
AvalonBay Communities
AVB
|
+$36.1M |
| 5 |
Equity Residential
EQR
|
+$21.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.7% |
| 2 | Healthcare | 14.14% |
| 3 | Consumer Discretionary | 13.71% |
| 4 | Communication Services | 10.92% |
| 5 | Industrials | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AAT
1626
American Assets Trust
AAT
$1.39B
| $3.8M | ﹤0.01% |
117,100
+1,400
| +1% | +$43.3K |
|
|
DCPH
1627
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $3.79M | ﹤0.01% |
84,600
+1,700
| +2% | +$79.2K |
|
1628
TechTarget
TTGT
$265M
| $3.79M | ﹤0.01% |
54,600
+1,600
| +3% | +$124K |
|
|
SYKE
1629
DELISTED
SYKES Enterprises Inc
SYKE
| $3.79M | ﹤0.01% |
86,023
| – | – |
|
|
ARGO
1630
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $3.79M | ﹤0.01% |
75,316
+700
| +0.9% | +$32.7K |
|
1631
Malibu Boats
MBUU
$576M
| $3.78M | ﹤0.01% |
47,400
+900
| +2% | +$69.4K |
|
1632
Northwest Natural Holdings
NWN
$2.12B
| $3.77M | ﹤0.01% |
69,900
+700
| +1% | +$33.6K |
|
1633
ICF International
ICFI
$1.6B
| $3.77M | ﹤0.01% |
43,100
+400
| +0.9% | +$33.4K |
|
1634
Quanterix
QTRX
$139M
| $3.77M | ﹤0.01% |
64,400
+14,600
| +29% | +$987K |
|
|
MNR
1635
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $3.76M | ﹤0.01% |
212,800
+2,000
| +0.9% | +$35.3K |
|
|
CVA
1636
DELISTED
Covanta Holding Corporation
CVA
| $3.76M | ﹤0.01% |
271,400
+2,200
| +0.8% | +$31.4K |
|
1637
Repay Holdings
RPAY
$311M
| $3.74M | ﹤0.01% |
159,383
+5,700
| +4% | +$138K |
|
|
LTC
1638
LTC Properties
LTC
$2.1B
| $3.74M | ﹤0.01% |
89,662
+900
| +1% | +$37.1K |
|
1639
Acadia Realty Trust
AKR
$2.84B
| $3.74M | ﹤0.01% |
197,100
+2,000
| +1% | +$34.9K |
|
1640
OSI Systems
OSIS
$3.82B
| $3.73M | ﹤0.01% |
38,800
| – | – |
|
1641
Eagle Bancorp
EGBN
$877M
| $3.73M | ﹤0.01% |
70,032
+800
| +1% | +$38.8K |
|
|
DRNA
1642
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
| $3.73M | ﹤0.01% |
145,700
+2,600
| +2% | +$66.4K |
|
1643
Kite Realty
KRG
$5.27B
| $3.71M | ﹤0.01% |
192,400
+1,800
| +0.9% | +$32.5K |
|
1644
Cactus
WHD
$5.78B
| $3.71M | ﹤0.01% |
121,200
+13,800
| +13% | +$418K |
|
|
HTO
1645
H2O America
HTO
$2.65B
| $3.7M | ﹤0.01% |
58,700
+600
| +1% | +$39.2K |
|
|
MIK
1646
DELISTED
Michaels Stores, Inc
MIK
| $3.7M | ﹤0.01% |
168,443
+1,500
| +0.9% | +$26.5K |
|
1647
Empire State Realty Trust
ESRT
$817M
| $3.69M | ﹤0.01% |
332,000
+1,800
| +0.5% | +$18.8K |
|
1648
Global Net Lease
GNL
$1.9B
| $3.69M | ﹤0.01% |
204,467
+1,700
| +0.8% | +$30.1K |
|
|
TRQ
1649
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $3.69M | ﹤0.01% |
229,310
| – | – |
|
1650
Gaotu Techedu
GOTU
$410M
| $3.69M | ﹤0.01% |
108,800
+13,200
| +14% | +$1.07M |
|
Similar funds
Swiss National Bank's Q1 2021 Portfolio in Review
As of Q1 2021, Swiss National Bank held 2,502 positions worth $150B, up 6.6% from $141B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Trading was light in Q1 2021: portfolio turnover was 1.3%. Swiss National Bank opened 12 new positions and exited 20, leaving the 2,502-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q1 2021 buy was Ferguson: 872,392 shares worth $104M.
- Swiss National Bank added most to Microsoft in Q1 2021, an estimated $111M increase.
- Swiss National Bank's biggest Q1 2021 reduction was DuPont de Nemours, cutting an estimated $51.9M.
- Swiss National Bank fully exited Tiffany & Co. in Q1 2021, selling an estimated $96.7M.
- Swiss National Bank's ten largest holdings make up 23% of its $150B portfolio in Q1 2021.
- Swiss National Bank opened 12 new positions and closed 20 in Q1 2021.
- Swiss National Bank's portfolio value rose 6.6% quarter-over-quarter to $150B.
Based on Swiss National Bank's 13F filing for Q1 2021, filed 7 May 2021.