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 |
Northrop Grumman
NOC
|
+$305M |
| 2 |
Prologis
PLD
|
+$97.9M |
| 3 |
Carlisle Companies
CSL
|
+$29.2M |
| 4 |
Healthcare Realty
HR
|
+$28.7M |
| 5 |
Gaming and Leisure Properties
GLPI
|
+$27.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$102M |
| 2 |
DRE
Duke Realty Corp.
DRE
|
+$91.2M |
| 3 |
Chevron
CVX
|
+$54.7M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$52.9M |
| 5 |
Microsoft
MSFT
|
+$27.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.13% |
| 2 | Healthcare | 15.84% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Industrials | 8.89% |
| 5 | Communication Services | 8.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1601
Krystal Biotech
KRYS
$9.72B
| $2.97M | ﹤0.01% |
42,600
+1,400
| +3% | +$101K |
|
1602
Cohu
COHU
$2.76B
| $2.97M | ﹤0.01% |
115,050
| – | – |
|
1603
Under Armour
UAA
$2.3B
| $2.97M | ﹤0.01% |
446,000
| – | – |
|
1604
InterDigital
IDCC
$8.88B
| $2.96M | ﹤0.01% |
73,200
+600
| +0.8% | +$32.4K |
|
1605
Payoneer
PAYO
$2.42B
| $2.96M | ﹤0.01% |
489,100
+10,000
| +2% | +$58.1K |
|
1606
FuelCell Energy
FCEL
$1.63B
| $2.96M | ﹤0.01% |
28,897
| – | – |
|
|
FSR
1607
DELISTED
Fisker Inc.
FSR
| $2.95M | ﹤0.01% |
390,900
+3,800
| +1% | +$34.3K |
|
1608
Worthington Enterprises
WOR
$2.78B
| $2.95M | ﹤0.01% |
125,381
-648
| -0.5% | -$19.8K |
|
1609
Medifast
MED
$130M
| $2.95M | ﹤0.01% |
27,200
| – | – |
|
1610
Transmedics
TMDX
$3.11B
| $2.95M | ﹤0.01% |
70,600
+8,500
| +14% | +$370K |
|
1611
LiveRamp
RAMP
$2.3B
| $2.95M | ﹤0.01% |
162,200
+1,200
| +0.7% | +$27.7K |
|
1612
Wolverine World Wide
WWW
$1.63B
| $2.95M | ﹤0.01% |
191,400
-1,100
| -0.6% | -$22.6K |
|
1613
SiTime
SITM
$20.7B
| $2.94M | ﹤0.01% |
37,400
+600
| +2% | +$77.3K |
|
1614
Freshworks
FRSH
$3.51B
| $2.94M | ﹤0.01% |
226,500
+18,100
| +9% | +$256K |
|
1615
XPEL
XPEL
$1.35B
| $2.94M | ﹤0.01% |
45,600
| – | – |
|
|
ATCO
1616
DELISTED
Atlas Corp.
ATCO
| $2.94M | ﹤0.01% |
211,200
+5,900
| +3% | +$76.8K |
|
|
CIM
1617
Chimera Investment
CIM
$993M
| $2.93M | ﹤0.01% |
187,360
+633
| +0.3% | +$16.5K |
|
1618
Pacific Biosciences
PACB
$357M
| $2.93M | ﹤0.01% |
505,446
+9,900
| +2% | +$56.8K |
|
1619
Alaska Air
ALK
$5.3B
| $2.93M | ﹤0.01% |
74,800
+700
| +0.9% | +$30.7K |
|
1620
CarGurus
CARG
$3.29B
| $2.92M | ﹤0.01% |
206,400
+2,800
| +1% | +$56.8K |
|
|
LFG
1621
DELISTED
Archaea Energy Inc.
LFG
| $2.92M | ﹤0.01% |
162,000
+31,100
| +24% | +$547K |
|
|
BBT
1622
Beacon Financial Corp
BBT
$2.71B
| $2.91M | ﹤0.01% |
106,600
-2,300
| -2% | -$64.2K |
|
1623
Clearfield
CLFD
$390M
| $2.91M | ﹤0.01% |
27,800
+200
| +0.7% | +$19.5K |
|
|
MNRL
1624
DELISTED
Brigham Minerals, Inc. Class A Common Stock
MNRL
| $2.91M | ﹤0.01% |
117,900
+9,600
| +9% | +$256K |
|
1625
OFG Bancorp
OFG
$2.26B
| $2.9M | ﹤0.01% |
115,300
| – | – |
|
Similar funds
Swiss National Bank's Q3 2022 Portfolio in Review
As of Q3 2022, Swiss National Bank held 2,744 positions worth $140B, down 5.4% from $148B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Trading was light in Q3 2022: portfolio turnover was 1.2%. Swiss National Bank opened 4 new positions and exited 30, leaving the 2,744-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2022 buy was Northrop Grumman: 639,945 shares worth $301M.
- Swiss National Bank added most to Prologis in Q3 2022, an estimated $97.9M increase.
- Swiss National Bank's biggest Q3 2022 reduction was Apple, cutting an estimated $102M.
- Swiss National Bank fully exited Duke Realty Corp. in Q3 2022, selling an estimated $91.2M.
- Swiss National Bank's ten largest holdings make up 26% of its $140B portfolio in Q3 2022.
- Swiss National Bank opened 4 new positions and closed 30 in Q3 2022.
- Swiss National Bank's portfolio value fell 5.4% quarter-over-quarter to $140B.
Based on Swiss National Bank's 13F filing for Q3 2022, filed 9 Nov 2022.