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 | |
|---|---|---|---|---|---|---|
1851
US Physical Therapy
USPH
$1.24B
| $2.72M | ﹤0.01% |
28,500
| – | – |
|
1852
Quanterix
QTRX
$135M
| $2.72M | ﹤0.01% |
64,200
| – | – |
|
1853
Freedom Holding
FRHC
$9.35B
| $2.72M | ﹤0.01% |
39,200
+600
| +2% | +$40.4K |
|
1854
Viper Energy
VNOM
$14.8B
| $2.71M | ﹤0.01% |
127,400
-2,100
| -2% | -$47K |
|
1855
Tompkins Financial
TMP
$1.45B
| $2.71M | ﹤0.01% |
32,400
-500
| -2% | -$41K |
|
1856
Apogee Enterprises
APOG
$888M
| $2.71M | ﹤0.01% |
56,200
-1,100
| -2% | -$48K |
|
1857
Ingles Markets
IMKTA
$1.68B
| $2.7M | ﹤0.01% |
31,300
| – | – |
|
|
ATCO
1858
DELISTED
Atlas Corp.
ATCO
| $2.7M | ﹤0.01% |
190,500
| – | – |
|
|
HUT
1859
Hut 8
HUT
$10.2B
| $2.7M | ﹤0.01% |
+68,900
| New | +$3.87M |
|
1860
Enerpac Tool Group
EPAC
$1.89B
| $2.69M | ﹤0.01% |
132,900
| – | – |
|
1861
Andersons Inc
ANDE
$2.21B
| $2.69M | ﹤0.01% |
69,550
| – | – |
|
1862
Krystal Biotech
KRYS
$9.72B
| $2.69M | ﹤0.01% |
38,400
+6,600
| +21% | +$384K |
|
1863
Usana Health Sciences
USNA
$252M
| $2.68M | ﹤0.01% |
26,500
-400
| -1% | -$39.9K |
|
1864
Marcus & Millichap
MMI
$1.2B
| $2.68M | ﹤0.01% |
52,100
| – | – |
|
|
SWTX
1865
DELISTED
SpringWorks Therapeutics
SWTX
| $2.68M | ﹤0.01% |
43,200
| – | – |
|
|
GTY
1866
Getty Realty Corp
GTY
$2.05B
| $2.68M | ﹤0.01% |
83,409
| – | – |
|
|
ISEE
1867
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
| $2.68M | ﹤0.01% |
160,100
+15,000
| +10% | +$246K |
|
|
SAND
1868
DELISTED
Sandstorm Gold
SAND
| $2.67M | ﹤0.01% |
431,862
| – | – |
|
1869
Hayward Holdings
HAYW
$3.24B
| $2.67M | ﹤0.01% |
+101,700
| New | +$2.47M |
|
1870
Shenandoah Telecom
SHEN
$744M
| $2.67M | ﹤0.01% |
104,572
| – | – |
|
1871
Celestica
CLS
$43.8B
| $2.66M | ﹤0.01% |
239,200
-5,200
| -2% | -$53.9K |
|
|
FFWM
1872
DELISTED
First Foundation Inc
FFWM
| $2.66M | ﹤0.01% |
106,900
+23,200
| +28% | +$618K |
|
1873
Revolution Medicines
RVMD
$43.3B
| $2.65M | ﹤0.01% |
105,500
| – | – |
|
1874
G-III Apparel Group
GIII
$1.43B
| $2.65M | ﹤0.01% |
95,900
| – | – |
|
1875
CoreCivic
CXW
$3.13B
| $2.65M | ﹤0.01% |
265,818
| – | – |
|
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.