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 | |
|---|---|---|---|---|---|---|
801
Brunswick
BC
$5.29B
| $14.7M | 0.01% |
182,300
+11,800
| +7% | +$1.09M |
|
802
Descartes Systems
DSGX
$6.6B
| $14.7M | 0.01% |
201,400
+14,500
| +8% | +$1.05M |
|
803
Matador Resources
MTDR
$6.58B
| $14.7M | 0.01% |
277,402
+20,400
| +8% | +$964K |
|
804
SouthState Bank Corp
SSB
$10.8B
| $14.7M | 0.01% |
180,137
+26,100
| +17% | +$2.25M |
|
805
Azenta
AZTA
$1.45B
| $14.6M | 0.01% |
175,800
+12,400
| +8% | +$1.06M |
|
806
Graphic Packaging
GPK
$3.37B
| $14.6M | 0.01% |
726,200
+50,500
| +7% | +$981K |
|
807
HF Sinclair
DINO
$16.5B
| $14.5M | 0.01% |
365,000
+25,300
| +7% | +$890K |
|
808
Sonoco
SON
$5.74B
| $14.5M | 0.01% |
232,500
+16,200
| +7% | +$938K |
|
809
Littelfuse
LFUS
$11.6B
| $14.5M | 0.01% |
58,248
+4,100
| +8% | +$1.09M |
|
|
EFOR
810
Everforth Inc
EFOR
$1.3B
| $14.4M | 0.01% |
123,200
+6,800
| +6% | +$771K |
|
811
Polaris
PII
$3.9B
| $14.4M | 0.01% |
136,300
+9,600
| +8% | +$1.09M |
|
812
Harley-Davidson
HOG
$2.92B
| $14.3M | 0.01% |
363,900
+25,100
| +7% | +$968K |
|
|
MGP
813
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $14.3M | 0.01% |
370,501
+25,900
| +8% | +$987K |
|
814
Silicon Laboratories
SLAB
$7.29B
| $14.3M | 0.01% |
95,000
-3,600
| -4% | -$575K |
|
815
Emcor
EME
$37.2B
| $14.2M | 0.01% |
126,200
+7,900
| +7% | +$930K |
|
816
Cousins Properties
CUZ
$4.9B
| $14.2M | 0.01% |
351,633
+24,400
| +7% | +$962K |
|
|
BLD
817
DELISTED
TopBuild
BLD
| $14.1M | 0.01% |
77,921
+5,400
| +7% | +$1.21M |
|
818
First Financial Bankshares
FFIN
$5.05B
| $14.1M | 0.01% |
320,000
+22,400
| +8% | +$1.07M |
|
819
Rapid7
RPD
$867M
| $14.1M | 0.01% |
126,800
+10,100
| +9% | +$1.01M |
|
820
National Fuel Gas
NFG
$7.79B
| $14.1M | 0.01% |
204,900
+14,300
| +8% | +$905K |
|
|
WCC
821
WESCO International
WCC
$17.6B
| $14M | 0.01% |
107,275
+7,500
| +8% | +$940K |
|
822
Curtiss-Wright
CW
$25.7B
| $13.9M | 0.01% |
92,700
+2,700
| +3% | +$384K |
|
823
Rayonier
RYN
$6.49B
| $13.9M | 0.01% |
373,104
+30,311
| +9% | +$1.08M |
|
824
Douglas Emmett
DEI
$1.96B
| $13.9M | 0.01% |
415,000
+28,900
| +7% | +$948K |
|
825
nVent Electric
NVT
$27.8B
| $13.8M | 0.01% |
397,887
+27,800
| +8% | +$972K |
|
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.