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 |
Apple
AAPL
|
+$1.38B |
| 2 |
Microsoft
MSFT
|
+$1.13B |
| 3 |
Amazon
AMZN
|
+$756M |
| 4 |
Tesla
TSLA
|
+$466M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$431M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
XLNX
Xilinx Inc
XLNX
|
+$199M |
| 2 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$191M |
| 3 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$62.8M |
| 4 |
KL
Kirkland Lake Gold Ltd Ordinary
KL
|
+$43.9M |
| 5 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$42.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.23% |
| 2 | Healthcare | 14.3% |
| 3 | Consumer Discretionary | 13.08% |
| 4 | Communication Services | 9.58% |
| 5 | Industrials | 8.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PPLI
576
People Inc
PPLI
$3.02B
| $34.6M | 0.02% |
420,191
+53,027
| +14% | +$5.15M |
|
577
Cable One
CABO
$197M
| $34.5M | 0.02% |
23,558
+2,900
| +14% | +$4.41M |
|
578
Knight Transportation
KNX
$11.9B
| $34.5M | 0.02% |
682,855
+83,500
| +14% | +$4.6M |
|
579
West Fraser Timber
WFG
$5.4B
| $34.4M | 0.02% |
419,038
+43,200
| +11% | +$4.06M |
|
|
DISCK
580
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $33.9M | 0.02% |
1,358,510
+166,900
| +14% | +$4.53M |
|
|
DISH
581
DELISTED
DISH Network Corp.
DISH
| $33.8M | 0.02% |
1,068,979
+133,800
| +14% | +$4.23M |
|
582
Bentley Systems
BSY
$10.9B
| $33.7M | 0.02% |
762,300
+95,000
| +14% | +$3.79M |
|
583
Rollins
ROL
$17.5B
| $33.6M | 0.02% |
959,082
+117,300
| +14% | +$3.81M |
|
584
NovoCure
NVCR
$1.97B
| $33.5M | 0.02% |
404,748
+50,300
| +14% | +$3.71M |
|
|
LSXMK
585
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $33.5M | 0.02% |
944,472
+115,673
| +14% | +$4.29M |
|
586
Affirm
AFRM
$26.4B
| $33.4M | 0.02% |
721,375
+389,700
| +117% | +$20.4M |
|
587
Ovintiv
OVV
$17.4B
| $33.4M | 0.02% |
617,307
+42,900
| +7% | +$1.85M |
|
|
MASI
588
DELISTED
Masimo
MASI
| $33.1M | 0.02% |
227,214
+28,400
| +14% | +$5.45M |
|
589
Trip.com Group
TCOM
$28.2B
| $32.9M | 0.02% |
1,422,521
+164,300
| +13% | +$4.14M |
|
590
UGI
UGI
$7.57B
| $32.8M | 0.02% |
906,123
+111,500
| +14% | +$4.46M |
|
591
Kinross Gold
KGC
$32.5B
| $32.7M | 0.02% |
5,567,935
+602,500
| +12% | +$3.36M |
|
592
Western Union
WU
$2.3B
| $32.6M | 0.02% |
1,741,222
+196,700
| +13% | +$3.64M |
|
|
COUP
593
DELISTED
Coupa Software Incorporated
COUP
| $32.6M | 0.02% |
320,791
+41,300
| +15% | +$5M |
|
594
DaVita
DVA
$11.6B
| $32.5M | 0.02% |
286,935
+28,000
| +11% | +$3.14M |
|
595
Guidewire Software
GWRE
$14.6B
| $32.4M | 0.02% |
342,733
+42,400
| +14% | +$4.05M |
|
596
Peloton Interactive
PTON
$2.5B
| $32.4M | 0.02% |
1,225,650
+158,900
| +15% | +$4.56M |
|
597
Gildan
GIL
$10.5B
| $32.3M | 0.02% |
861,400
+80,300
| +10% | +$3.15M |
|
598
Credicorp
BAP
$30.4B
| $32.1M | 0.02% |
186,752
+28,300
| +18% | +$4.27M |
|
599
Vornado Realty Trust
VNO
$7.33B
| $32M | 0.02% |
705,670
+86,800
| +14% | +$3.8M |
|
600
Wolfspeed
WOLF
$1.59B
| $31.3M | 0.02% |
274,741
+19,600
| +8% | +$1.97M |
|
Similar funds
Swiss National Bank's Q1 2022 Portfolio in Review
As of Q1 2022, Swiss National Bank held 2,722 positions worth $177B, up 6.8% from $166B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank deployed $20.2B of net new capital in Q1 2022, opening 3 new positions and adding to 2,642 existing holdings. Its largest new stake was Constellation Energy: 1,411,783 shares worth $79.4M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Exelon, an estimated $41.2M trimmed.
- Swiss National Bank's largest Q1 2022 buy was Constellation Energy: 1,411,783 shares worth $79.4M.
- Swiss National Bank added most to Apple in Q1 2022, an estimated $1.38B increase.
- Swiss National Bank's biggest Q1 2022 reduction was Exelon, cutting an estimated $41.2M.
- Swiss National Bank fully exited Xilinx Inc in Q1 2022, selling an estimated $199M.
- Swiss National Bank's ten largest holdings make up 28% of its $177B portfolio in Q1 2022.
- Swiss National Bank opened 3 new positions and closed 31 in Q1 2022.
- Swiss National Bank's portfolio value rose 6.8% quarter-over-quarter to $177B.
Based on Swiss National Bank's 13F filing for Q1 2022, filed 9 May 2022.