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 | |
|---|---|---|---|---|---|---|
401
VICI Properties
VICI
$29B
| $70.3M | 0.04% |
2,333,566
-65,900
| -3% | -$1.91M |
|
402
Bath & Body Works
BBWI
$3.73B
| $70.2M | 0.04% |
1,006,300
-41,000
| -4% | -$2.91M |
|
403
Amcor
AMCR
$21.5B
| $70.2M | 0.04% |
1,169,240
-49,720
| -4% | -$2.95M |
|
404
Insulet
PODD
$10.1B
| $69.7M | 0.04% |
261,877
-300
| -0.1% | -$87K |
|
|
PARA
405
DELISTED
Paramount Global Class B
PARA
| $69.5M | 0.04% |
2,302,133
-92,500
| -4% | -$3.19M |
|
406
Jacobs Solutions
J
$16.8B
| $69M | 0.04% |
598,754
-25,147
| -4% | -$2.91M |
|
407
PG&E
PCG
$38.2B
| $68.7M | 0.04% |
5,660,473
-246,000
| -4% | -$2.88M |
|
408
Camden Property Trust
CPT
$11.1B
| $68.3M | 0.04% |
382,238
-4,700
| -1% | -$775K |
|
409
IDEX
IEX
$17.6B
| $68.3M | 0.04% |
288,970
-12,100
| -4% | -$2.75M |
|
410
Avery Dennison
AVY
$13.6B
| $68.2M | 0.04% |
314,987
-13,200
| -4% | -$2.82M |
|
411
Restaurant Brands International
QSR
$26.7B
| $68M | 0.04% |
1,125,261
-26,100
| -2% | -$1.54M |
|
|
412
Rivian
RIVN
$23.1B
| $68M | 0.04% |
+656,100
| New | +$75.6M |
|
413
UDR
UDR
$12.2B
| $67.7M | 0.04% |
1,128,088
-45,600
| -4% | -$2.57M |
|
414
Carvana
CVNA
$82B
| $67M | 0.04% |
1,445,525
+5,000
| +0.3% | +$275K |
|
415
Royal Caribbean
RCL
$83.1B
| $67M | 0.04% |
871,369
-34,900
| -4% | -$2.83M |
|
416
Arch Capital
ACGL
$33.4B
| $66.9M | 0.04% |
1,505,289
-90,300
| -6% | -$3.83M |
|
417
Corpay
CPAY
$27.8B
| $66.8M | 0.04% |
298,219
-14,900
| -5% | -$3.56M |
|
418
Cincinnati Financial
CINF
$26.5B
| $66.3M | 0.04% |
582,039
-23,200
| -4% | -$2.74M |
|
419
International Paper
IP
$21.8B
| $66.3M | 0.04% |
1,411,450
-142,507
| -9% | -$7.03M |
|
420
Rogers Communications
RCI
$19.6B
| $66.2M | 0.04% |
1,394,400
-82,300
| -6% | -$3.86M |
|
421
Qorvo
QRVO
$8.71B
| $66.1M | 0.04% |
422,389
-22,600
| -5% | -$3.59M |
|
422
Masco
MAS
$14.7B
| $66M | 0.04% |
939,315
-64,000
| -6% | -$4.14M |
|
423
MGM Resorts International
MGM
$11.1B
| $65.8M | 0.04% |
1,465,220
-86,000
| -6% | -$3.86M |
|
424
Pembina Pipeline
PBA
$28.4B
| $65.5M | 0.04% |
2,164,048
-127,700
| -6% | -$4.07M |
|
425
JB Hunt Transport Services
JBHT
$26.5B
| $65.4M | 0.04% |
319,894
-14,600
| -4% | -$2.81M |
|
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.