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 | |
|---|---|---|---|---|---|---|
651
GFL Environmental
GFL
$15B
| $23.5M | 0.01% |
622,500
-33,100
| -5% | -$1.29M |
|
|
SYNH
652
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $23.4M | 0.01% |
227,677
-1,600
| -0.7% | -$154K |
|
653
Aecom
ACM
$8.19B
| $23.3M | 0.01% |
301,180
-6,100
| -2% | -$428K |
|
654
Lamar Advertising Co
LAMR
$15.8B
| $23.2M | 0.01% |
190,938
-600
| -0.3% | -$69.9K |
|
655
Lattice Semiconductor
LSCC
$18.2B
| $23.1M | 0.01% |
300,100
-1,600
| -0.5% | -$119K |
|
656
Sunrun
RUN
$2.37B
| $22.8M | 0.01% |
665,430
-18,200
| -3% | -$852K |
|
657
Avis
CAR
$4.84B
| $22.8M | 0.01% |
109,800
-6,000
| -5% | -$1.33M |
|
658
Cleveland-Cliffs
CLF
$6.93B
| $22.7M | 0.01% |
1,044,540
-3,500
| -0.3% | -$75.4K |
|
659
Watsco Inc
WSO
$12.9B
| $22.7M | 0.01% |
72,644
-100
| -0.1% | -$29.6K |
|
|
AXON
660
Axon Enterprise
AXON
$50B
| $22.7M | 0.01% |
144,500
+1,500
| +1% | +$252K |
|
661
Reliance Steel & Aluminium
RS
$21.7B
| $22.7M | 0.01% |
139,700
-1,100
| -0.8% | -$170K |
|
662
Zions Bancorporation
ZION
$10.5B
| $22.5M | 0.01% |
356,600
-5,400
| -1% | -$345K |
|
|
AZPN
663
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $22.5M | 0.01% |
147,600
-2,600
| -2% | -$396K |
|
664
APA Corp
APA
$14B
| $22.4M | 0.01% |
831,800
-3,200
| -0.4% | -$84.9K |
|
665
Deckers Outdoor
DECK
$12.7B
| $22.3M | 0.01% |
365,400
-3,600
| -1% | -$232K |
|
666
Penumbra
PEN
$12.9B
| $22M | 0.01% |
76,500
-100
| -0.1% | -$26.4K |
|
|
BERY
667
DELISTED
Berry Global Group, Inc.
BERY
| $22M | 0.01% |
323,997
-654
| -0.2% | -$40.5K |
|
668
Ares Management
ARES
$33.7B
| $21.9M | 0.01% |
269,766
+900
| +0.3% | +$73.3K |
|
669
Capri Holdings
CPRI
$1.77B
| $21.7M | 0.01% |
334,500
+200
| +0.1% | +$11.8K |
|
670
Manhattan Associates
MANH
$11.7B
| $21.7M | 0.01% |
139,520
-1,100
| -0.8% | -$179K |
|
671
Jabil
JBL
$38.8B
| $21.4M | 0.01% |
304,900
-7,500
| -2% | -$474K |
|
672
United Therapeutics
UTHR
$21.5B
| $21.3M | 0.01% |
98,700
-200
| -0.2% | -$39.3K |
|
673
GameStop
GME
$8.33B
| $21.3M | 0.01% |
574,728
-2,400
| -0.4% | -$109K |
|
674
MKS Inc
MKSI
$20.7B
| $21.3M | 0.01% |
122,100
-200
| -0.2% | -$31.3K |
|
675
AerCap
AER
$23.5B
| $21.1M | 0.01% |
322,100
+33,300
| +12% | +$2.06M |
|
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.