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 | 26.42% |
| 2 | Healthcare | 14.37% |
| 3 | Consumer Discretionary | 13.81% |
| 4 | Communication Services | 10.64% |
| 5 | Industrials | 8.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Wheaton Precious Metals
WPM
$61B
| $150M | 0.11% |
3,601,600
-149,800
| -4% | -$6.69M |
|
177
Baidu
BIDU
$35.9B
| $149M | 0.11% |
691,194
-18,000
| -3% | -$2.67M |
|
178
Digital Realty Trust
DLR
$70.6B
| $148M | 0.11% |
1,061,512
-27,100
| -2% | -$3.88M |
|
179
NIO
NIO
$11.6B
| $148M | 0.1% |
3,026,598
+799,940
| +36% | +$30.9M |
|
|
DOCU
180
DocuSign
DOCU
$11.3B
| $146M | 0.1% |
658,717
-18,500
| -3% | -$4.16M |
|
181
Biogen
BIIB
$30.1B
| $146M | 0.1% |
597,958
-37,300
| -6% | -$9.62M |
|
182
eBay
EBAY
$47.2B
| $146M | 0.1% |
2,908,124
-86,400
| -3% | -$4.41M |
|
183
Palo Alto Networks
PANW
$313B
| $146M | 0.1% |
2,464,716
-58,800
| -2% | -$2.75M |
|
184
Church & Dwight Co
CHD
$24.4B
| $145M | 0.1% |
1,656,691
-7,700
| -0.5% | -$682K |
|
185
Cadence Design Systems
CDNS
$90.2B
| $144M | 0.1% |
1,052,742
-33,900
| -3% | -$3.98M |
|
186
Travelers Companies
TRV
$78.3B
| $141M | 0.1% |
1,007,297
-27,200
| -3% | -$3.49M |
|
187
Match Group
MTCH
$8.45B
| $141M | 0.1% |
932,694
-23,300
| -2% | -$3.08M |
|
188
AutoZone
AZO
$49.7B
| $141M | 0.1% |
118,773
-2,100
| -2% | -$2.43M |
|
|
WCN
189
Waste Connections
WCN
$42B
| $140M | 0.1% |
1,365,083
-22,600
| -2% | -$2.33M |
|
190
Chipotle Mexican Grill
CMG
$40.5B
| $139M | 0.1% |
5,023,150
-130,000
| -3% | -$3.41M |
|
191
Sempra
SRE
$55.9B
| $139M | 0.1% |
2,184,696
-92,600
| -4% | -$5.96M |
|
192
Constellation Brands
STZ
$22.9B
| $139M | 0.1% |
634,457
-19,000
| -3% | -$3.74M |
|
193
Veeva Systems
VEEV
$38.4B
| $139M | 0.1% |
510,056
-14,800
| -3% | -$4.15M |
|
194
Manulife Financial
MFC
$72.7B
| $138M | 0.1% |
7,770,300
-379,200
| -5% | -$6.05M |
|
195
Verisk Analytics
VRSK
$23.6B
| $138M | 0.1% |
665,802
-15,600
| -2% | -$3.03M |
|
196
Agilent Technologies
A
$42.2B
| $138M | 0.1% |
1,165,883
-39,500
| -3% | -$4.37M |
|
197
Monster Beverage
MNST
$89.2B
| $138M | 0.1% |
5,974,144
-175,200
| -3% | -$3.68M |
|
198
CoStar Group
CSGP
$12.6B
| $137M | 0.1% |
1,486,000
-46,000
| -3% | -$4.03M |
|
199
Marriott International
MAR
$91.1B
| $137M | 0.1% |
1,041,070
-31,800
| -3% | -$3.63M |
|
200
Broadridge
BR
$19.5B
| $137M | 0.1% |
895,789
-23,300
| -3% | -$3.38M |
|
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 26% 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.