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 |
First Solar
FSLR
|
+$24M |
| 2 |
Ovintiv
OVV
|
+$22M |
| 3 |
Hubbell
HUBB
|
+$21.8M |
| 4 |
U-Haul Holding Co Series N
UHAL.B
|
+$20.7M |
| 5 |
Lamb Weston
LW
|
+$20.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$690M |
| 2 |
Microsoft
MSFT
|
+$479M |
| 3 |
Amazon
AMZN
|
+$239M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$182M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.31% |
| 2 | Healthcare | 16.63% |
| 3 | Consumer Discretionary | 10.98% |
| 4 | Industrials | 9.77% |
| 5 | Consumer Staples | 7.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1301
Four Corners Property Trust
FCPT
$2.77B
| $5.1M | ﹤0.01% |
196,707
+6,100
| +3% | +$157K |
|
|
STR
1302
DELISTED
Sitio Royalties
STR
| $5.1M | ﹤0.01% |
+176,706
| New | +$5.12M |
|
1303
Red Rock Resorts
RRR
$3.77B
| $5.09M | ﹤0.01% |
127,100
-4,100
| -3% | -$168K |
|
1304
AMC Entertainment Holdings
AMC
$2.27B
| $5.08M | ﹤0.01% |
124,894
-99,080
| -44% | -$6.25M |
|
1305
Renasant Corp
RNST
$3.98B
| $5.08M | ﹤0.01% |
135,100
+2,500
| +2% | +$94.5K |
|
1306
PagerDuty
PD
$916M
| $5.07M | ﹤0.01% |
190,900
+3,700
| +2% | +$87.4K |
|
1307
Chesapeake Utilities
CPK
$3.26B
| $5.06M | ﹤0.01% |
42,850
+800
| +2% | +$93.9K |
|
1308
Quaker Houghton
KWR
$2.95B
| $5.06M | ﹤0.01% |
30,300
+600
| +2% | +$101K |
|
1309
Liberty Energy
LBRT
$3.57B
| $5.06M | ﹤0.01% |
315,800
+5,700
| +2% | +$90.7K |
|
1310
Installed Building Products
IBP
$6.42B
| $5.05M | ﹤0.01% |
59,033
| – | – |
|
1311
ChargePoint
CHPT
$160M
| $5.04M | ﹤0.01% |
26,440
+420
| +2% | +$102K |
|
1312
Glaukos
GKOS
$11B
| $5.02M | ﹤0.01% |
114,900
+2,700
| +2% | +$133K |
|
1313
Northern Oil and Gas
NOG
$2.61B
| $4.99M | ﹤0.01% |
162,000
+6,100
| +4% | +$205K |
|
1314
Kadant
KAI
$3.93B
| $4.99M | ﹤0.01% |
28,100
+500
| +2% | +$89K |
|
1315
American Airlines Group
AAL
$9.85B
| $4.99M | ﹤0.01% |
392,300
+7,300
| +2% | +$99K |
|
1316
Axos Financial
AX
$5.79B
| $4.97M | ﹤0.01% |
130,000
+2,700
| +2% | +$103K |
|
1317
Cracker Barrel
CBRL
$1.28B
| $4.96M | ﹤0.01% |
52,350
| – | – |
|
1318
Sunstone Hotel Investors
SHO
$2.03B
| $4.95M | ﹤0.01% |
512,649
+2,300
| +0.5% | +$23.8K |
|
|
LAC
1319
DELISTED
Lithium Americas Corp. Common Shares
LAC
| $4.95M | ﹤0.01% |
261,000
+4,000
| +2% | +$97.1K |
|
1320
GitLab
GTLB
$7.23B
| $4.94M | ﹤0.01% |
108,800
+13,700
| +14% | +$619K |
|
1321
Cal-Maine
CALM
$3.81B
| $4.93M | ﹤0.01% |
90,500
+1,500
| +2% | +$86.7K |
|
|
SAGE
1322
DELISTED
Sage Therapeutics
SAGE
| $4.93M | ﹤0.01% |
129,200
+3,100
| +2% | +$118K |
|
1323
AeroVironment
AVAV
$9.78B
| $4.91M | ﹤0.01% |
57,300
+1,200
| +2% | +$103K |
|
1324
Trustmark
TRMK
$2.8B
| $4.9M | ﹤0.01% |
140,400
+1,900
| +1% | +$66.4K |
|
|
SGFY
1325
DELISTED
Signify Health, Inc.
SGFY
| $4.9M | ﹤0.01% |
170,800
+3,600
| +2% | +$104K |
|
Similar funds
Swiss National Bank's Q4 2022 Portfolio in Review
As of Q4 2022, Swiss National Bank held 2,795 positions worth $139B, down 0.37% from $140B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Swiss National Bank withdrew a net $9.35B in Q4 2022, closing 116 positions and reducing 810 holdings. Its most notable exit was Twitter, Inc., an estimated $123M position sold in full.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in U-Haul Holding Co Series N worth $19.6M.
- Swiss National Bank's largest Q4 2022 buy was U-Haul Holding Co Series N: 356,731 shares worth $19.6M.
- Swiss National Bank added most to First Solar in Q4 2022, an estimated $24M increase.
- Swiss National Bank's biggest Q4 2022 reduction was Apple, cutting an estimated $690M.
- Swiss National Bank fully exited Twitter, Inc. in Q4 2022, selling an estimated $123M.
- Swiss National Bank's ten largest holdings make up 23% of its $139B portfolio in Q4 2022.
- Swiss National Bank opened 81 new positions and closed 116 in Q4 2022.
- Swiss National Bank's portfolio value fell 0.37% quarter-over-quarter to $139B.
Based on Swiss National Bank's 13F filing for Q4 2022, filed 8 Feb 2023.