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 | 9.76% |
| 5 | Consumer Staples | 7.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
HZNP
276
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $101M | 0.07% |
889,556
-56,912
| -6% | -$4.73M |
|
277
United Rentals
URI
$71.3B
| $101M | 0.07% |
284,500
-25,982
| -8% | -$8.54M |
|
278
CBRE Group
CBRE
$42.5B
| $100M | 0.07% |
1,305,400
-111,126
| -8% | -$8.21M |
|
279
Agnico Eagle Mines
AEM
$93.8B
| $100M | 0.07% |
1,924,943
-124,784
| -6% | -$5.89M |
|
280
Genuine Parts
GPC
$18.4B
| $99.7M | 0.07% |
574,800
-38,623
| -6% | -$6.72M |
|
281
Hartford Financial Services
HIG
$38.2B
| $99.6M | 0.07% |
1,313,300
-112,247
| -8% | -$8.08M |
|
282
Edison International
EIX
$26.7B
| $98.6M | 0.07% |
1,550,200
-101,791
| -6% | -$6.25M |
|
283
PG&E
PCG
$38.3B
| $98.5M | 0.07% |
6,058,800
-401,173
| -6% | -$6.07M |
|
284
CDW
CDW
$16.7B
| $98.2M | 0.07% |
549,700
-36,040
| -6% | -$6.34M |
|
285
Ulta Beauty
ULTA
$23.1B
| $97.7M | 0.07% |
208,200
-16,336
| -7% | -$7.04M |
|
286
Equifax
EFX
$20.9B
| $96.7M | 0.07% |
497,500
-32,675
| -6% | -$5.97M |
|
287
Vulcan Materials
VMC
$36.9B
| $94.6M | 0.07% |
540,100
-35,252
| -6% | -$6.03M |
|
288
Arch Capital
ACGL
$33.6B
| $94.2M | 0.07% |
1,500,300
-128,089
| -8% | -$7.15M |
|
289
Diamondback Energy
FANG
$56.4B
| $93.9M | 0.07% |
686,599
-44,900
| -6% | -$6.56M |
|
290
Lennar Class A
LEN
$20.6B
| $93.8M | 0.07% |
1,070,572
-87,622
| -8% | -$7.1M |
|
291
Ameren
AEE
$30.1B
| $93.4M | 0.07% |
1,050,100
-68,987
| -6% | -$5.8M |
|
292
Weyerhaeuser
WY
$17.8B
| $93.3M | 0.07% |
3,008,333
-217,413
| -7% | -$6.74M |
|
293
Entergy
ETR
$50.3B
| $93M | 0.07% |
1,653,400
-109,146
| -6% | -$5.98M |
|
294
eBay
EBAY
$46.2B
| $92.6M | 0.07% |
2,232,700
-193,374
| -8% | -$8.01M |
|
295
DTE Energy
DTE
$28.8B
| $92.5M | 0.07% |
787,400
-51,870
| -6% | -$5.88M |
|
296
FirstEnergy
FE
$27.2B
| $92.5M | 0.07% |
2,206,244
-141,161
| -6% | -$5.52M |
|
297
Veeva Systems
VEEV
$38B
| $91.9M | 0.07% |
569,300
-37,466
| -6% | -$6.4M |
|
298
AvalonBay Communities
AVB
$25.7B
| $91.8M | 0.07% |
568,321
-37,059
| -6% | -$6.31M |
|
299
Alexandria Real Estate Equities
ARE
$8.25B
| $91.8M | 0.07% |
630,000
-41,955
| -6% | -$6.07M |
|
300
Warner Bros
WBD
$69.5B
| $88.9M | 0.06% |
9,373,027
-618,552
| -6% | -$6.98M |
|
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.