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 |
Broadcom
AVGO
|
+$57.1M |
| 2 |
Veralto
VLTO
|
+$54.6M |
| 3 |
Newmont
NEM
|
+$40.4M |
| 4 |
Vertiv
VRT
|
+$17.2M |
| 5 |
Webster Financial
WBS
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$314M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$237M |
| 3 |
Microsoft
MSFT
|
+$231M |
| 4 |
VMW
VMware, Inc
VMW
|
+$130M |
| 5 |
NVIDIA
NVDA
|
+$102M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.88% |
| 2 | Healthcare | 12.91% |
| 3 | Consumer Discretionary | 12.16% |
| 4 | Industrials | 9.38% |
| 5 | Communication Services | 8.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
NetApp
NTAP
$40.2B
| $57.6M | 0.04% |
652,900
-30,500
| -4% | -$2.46M |
|
|
AXON
377
Axon Enterprise
AXON
$50B
| $57.4M | 0.04% |
222,100
-3,700
| -2% | -$834K |
|
378
BioMarin Pharmaceuticals
BMRN
$13.3B
| $56.7M | 0.04% |
588,400
-15,400
| -3% | -$1.36M |
|
379
Ball Corp
BALL
$16.4B
| $56.7M | 0.04% |
985,188
-26,600
| -3% | -$1.37M |
|
380
Enphase Energy
ENPH
$5.39B
| $56.4M | 0.04% |
427,100
-13,700
| -3% | -$1.45M |
|
381
CenterPoint Energy
CNP
$26.7B
| $56.4M | 0.04% |
1,973,700
-56,000
| -3% | -$1.56M |
|
382
Entegris
ENTG
$25B
| $56.2M | 0.04% |
469,407
-12,100
| -3% | -$1.23M |
|
383
Akamai
AKAM
$18B
| $56.1M | 0.04% |
474,400
-15,200
| -3% | -$1.69M |
|
384
Skyworks Solutions
SWKS
$10.5B
| $56M | 0.04% |
498,400
-13,600
| -3% | -$1.33M |
|
385
Markel Group
MKL
$22.8B
| $55.9M | 0.04% |
39,400
-1,350
| -3% | -$1.92M |
|
386
Brown-Forman Class B
BF.B
$12.9B
| $55.4M | 0.04% |
969,818
-27,700
| -3% | -$1.59M |
|
387
Clorox
CLX
$12.9B
| $55.3M | 0.04% |
387,800
-9,900
| -2% | -$1.32M |
|
388
Hubbell
HUBB
$26.8B
| $55.2M | 0.04% |
167,700
-4,700
| -3% | -$1.41M |
|
389
Tyler Technologies
TYL
$13.5B
| $55M | 0.04% |
131,600
-3,300
| -2% | -$1.32M |
|
|
HOLX
390
DELISTED
Hologic
HOLX
| $54.8M | 0.04% |
766,840
-23,500
| -3% | -$1.64M |
|
391
First Solar
FSLR
$24B
| $54.7M | 0.04% |
317,300
-9,200
| -3% | -$1.41M |
|
392
Deckers Outdoor
DECK
$12.7B
| $54.6M | 0.04% |
490,200
-14,400
| -3% | -$1.46M |
|
393
Snap
SNAP
$9B
| $54.3M | 0.04% |
3,209,800
-58,100
| -2% | -$712K |
|
394
Rogers Communications
RCI
$19.7B
| $54.1M | 0.04% |
1,153,600
-35,000
| -3% | -$1.46M |
|
395
EPAM Systems
EPAM
$5.23B
| $53.9M | 0.04% |
181,300
-5,000
| -3% | -$1.27M |
|
396
Atmos Energy
ATO
$28.7B
| $53.8M | 0.04% |
464,300
-400
| -0.1% | -$44.7K |
|
397
McCormick & Company Non-Voting
MKC
$14.6B
| $53.8M | 0.04% |
785,800
-21,900
| -3% | -$1.43M |
|
398
Brown & Brown
BRO
$24B
| $53.6M | 0.04% |
753,800
-20,900
| -3% | -$1.49M |
|
399
Zoom
ZM
$32.2B
| $53.6M | 0.04% |
745,300
-21,700
| -3% | -$1.43M |
|
400
Omnicom Group
OMC
$24.2B
| $53.4M | 0.04% |
617,800
-24,000
| -4% | -$1.89M |
|
Similar funds
Swiss National Bank's Q4 2023 Portfolio in Review
As of Q4 2023, Swiss National Bank held 2,646 positions worth $136B, up 6.9% from $127B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank withdrew a net $4.96B in Q4 2023, closing 112 positions and reducing 2,341 holdings. Its most notable exit was Activision Blizzard, an estimated $237M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Veralto worth $60.2M.
- Swiss National Bank's largest Q4 2023 buy was Veralto: 731,669 shares worth $60.2M.
- Swiss National Bank added most to Broadcom in Q4 2023, an estimated $57.1M increase.
- Swiss National Bank's biggest Q4 2023 reduction was Apple, cutting an estimated $314M.
- Swiss National Bank fully exited Activision Blizzard in Q4 2023, selling an estimated $237M.
- Swiss National Bank's ten largest holdings make up 28% of its $136B portfolio in Q4 2023.
- Swiss National Bank opened 38 new positions and closed 112 in Q4 2023.
- Swiss National Bank's portfolio value rose 6.9% quarter-over-quarter to $136B.
Based on Swiss National Bank's 13F filing for Q4 2023, filed 6 Feb 2024.