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 |
Rivian
RIVN
|
+$75.6M |
| 2 |
Sea Limited
SE
|
+$74.9M |
| 3 |
Airbnb
ABNB
|
+$70.2M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$64.7M |
| 5 |
VMW
VMware, Inc
VMW
|
+$61.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$498M |
| 2 |
Microsoft
MSFT
|
+$375M |
| 3 |
Amazon
AMZN
|
+$213M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$162M |
| 5 |
JD.com
JD
|
+$154M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.19% |
| 2 | Healthcare | 14% |
| 3 | Consumer Discretionary | 13.69% |
| 4 | Communication Services | 10.39% |
| 5 | Industrials | 8.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SEE
551
DELISTED
Sealed Air
SEE
| $38.4M | 0.02% |
569,739
-31,100
| -5% | -$1.93M |
|
552
Peloton Interactive
PTON
$2.44B
| $38.1M | 0.02% |
1,066,750
+57,200
| +6% | +$3.49M |
|
553
Algonquin Power & Utilities
AQN
$4.48B
| $38.1M | 0.02% |
2,643,700
+94,100
| +4% | +$1.35M |
|
554
American Financial Group
AFG
$12.1B
| $37.6M | 0.02% |
273,881
-12,000
| -4% | -$1.65M |
|
555
Vistra
VST
$49.1B
| $37.6M | 0.02% |
1,649,757
-65,300
| -4% | -$1.31M |
|
556
Universal Health Services
UHS
$10.1B
| $37.4M | 0.02% |
288,409
-20,300
| -7% | -$2.61M |
|
557
Sensata Technologies
ST
$6.61B
| $37.1M | 0.02% |
602,004
-23,300
| -4% | -$1.36M |
|
558
Liberty Global Class C
LBTYK
$3.48B
| $37.1M | 0.02% |
1,321,731
-73,200
| -5% | -$2.09M |
|
559
Builders FirstSource
BLDR
$7.91B
| $37.1M | 0.02% |
433,087
-1,700
| -0.4% | -$115K |
|
560
TFI International
TFII
$12.1B
| $36.8M | 0.02% |
329,400
+142,600
| +76% | +$15.5M |
|
561
Arrow Electronics
ARW
$10.6B
| $36.7M | 0.02% |
273,082
-20,300
| -7% | -$2.49M |
|
562
Knight Transportation
KNX
$11.9B
| $36.5M | 0.02% |
599,355
-24,700
| -4% | -$1.4M |
|
563
UGI
UGI
$7.56B
| $36.5M | 0.02% |
794,623
-32,900
| -4% | -$1.46M |
|
564
Cable One
CABO
$206M
| $36.4M | 0.02% |
20,658
-800
| -4% | -$1.42M |
|
565
West Fraser Timber
WFG
$5.45B
| $35.8M | 0.02% |
375,838
-22,200
| -6% | -$1.92M |
|
566
HEICO Corp Class A
HEI.A
$38.1B
| $35.7M | 0.02% |
277,623
-11,800
| -4% | -$1.5M |
|
567
Owens Corning
OC
$12.3B
| $35.5M | 0.02% |
391,928
-21,200
| -5% | -$1.92M |
|
|
Y
568
DELISTED
Alleghany Corp
Y
| $35.2M | 0.02% |
52,653
-2,300
| -4% | -$1.53M |
|
569
Quanta Services
PWR
$101B
| $35.1M | 0.02% |
306,235
-1,700
| -0.6% | -$196K |
|
570
Imperial Oil
IMO
$64B
| $34.9M | 0.02% |
970,400
-100,300
| -9% | -$3.45M |
|
571
Assurant
AIZ
$13.9B
| $34.9M | 0.02% |
223,644
-15,800
| -7% | -$2.51M |
|
572
WIX.com
WIX
$3.35B
| $34.5M | 0.02% |
218,633
-12,800
| -6% | -$2.22M |
|
573
Teva Pharmaceuticals
TEVA
$42.6B
| $34.5M | 0.02% |
4,303,393
-249,900
| -5% | -$2.26M |
|
574
Globe Life
GL
$14B
| $34.4M | 0.02% |
367,272
-19,800
| -5% | -$1.83M |
|
575
Trex
TREX
$5.1B
| $34.3M | 0.02% |
253,800
-1,000
| -0.4% | -$120K |
|
Similar funds
Swiss National Bank's Q4 2021 Portfolio in Review
As of Q4 2021, Swiss National Bank held 2,800 positions worth $166B, up 5.6% from $157B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Swiss National Bank withdrew a net $5.92B in Q4 2021, closing 81 positions and reducing 1,244 holdings. Its most notable exit was JD.com, an estimated $154M position sold in full.
By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 28% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Rivian worth $68M.
- Swiss National Bank's largest Q4 2021 buy was Rivian: 656,100 shares worth $68M.
- Swiss National Bank added most to Sea Limited in Q4 2021, an estimated $74.9M increase.
- Swiss National Bank's biggest Q4 2021 reduction was Apple, cutting an estimated $498M.
- Swiss National Bank fully exited JD.com in Q4 2021, selling an estimated $154M.
- Swiss National Bank's ten largest holdings make up 27% of its $166B portfolio in Q4 2021.
- Swiss National Bank opened 178 new positions and closed 81 in Q4 2021.
- Swiss National Bank's portfolio value rose 5.6% quarter-over-quarter to $166B.
Based on Swiss National Bank's 13F filing for Q4 2021, filed 8 Feb 2022.