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 | |
|---|---|---|---|---|---|---|
451
SS&C Technologies
SSNC
$18.8B
| $48.6M | 0.03% |
932,900
-60,849
| -6% | -$3.08M |
|
452
Loews
L
$23.1B
| $48.6M | 0.03% |
832,361
-74,439
| -8% | -$4.15M |
|
453
Campbell Soup
CPB
$6.74B
| $48.4M | 0.03% |
853,500
-60,928
| -7% | -$3.2M |
|
454
International Paper
IP
$21.8B
| $48.4M | 0.03% |
1,397,800
-128,150
| -8% | -$4.43M |
|
455
Essential Utilities
WTRG
$11.3B
| $48.3M | 0.03% |
1,012,300
-66,586
| -6% | -$3.01M |
|
456
Match Group
MTCH
$8.4B
| $47.7M | 0.03% |
1,150,171
-87,512
| -7% | -$3.96M |
|
457
Liberty Media Series C
FWONK
$26B
| $47.7M | 0.03% |
824,535
-51,785
| -6% | -$2.96M |
|
458
Teleflex
TFX
$6.03B
| $47.6M | 0.03% |
190,600
-11,975
| -6% | -$2.64M |
|
459
GoDaddy
GDDY
$11.6B
| $47.5M | 0.03% |
635,500
-65,507
| -9% | -$4.91M |
|
460
Cloudflare
NET
$111B
| $46.8M | 0.03% |
1,035,200
-61,800
| -6% | -$3.06M |
|
461
Host Hotels & Resorts
HST
$15.6B
| $46.6M | 0.03% |
2,905,579
-192,075
| -6% | -$3.36M |
|
462
Qiagen
QGEN
$8.88B
| $46.6M | 0.03% |
873,611
-58,643
| -6% | -$2.89M |
|
463
Neurocrine Biosciences
NBIX
$15.9B
| $46.4M | 0.03% |
388,700
-25,527
| -6% | -$2.99M |
|
464
Equity Lifestyle Properties
ELS
$12.4B
| $46.4M | 0.03% |
718,400
-46,369
| -6% | -$2.94M |
|
465
Coca-Cola Europacific Partners
CCEP
$47.3B
| $46.3M | 0.03% |
836,314
-56,783
| -6% | -$2.85M |
|
466
DoorDash
DASH
$92.1B
| $46.2M | 0.03% |
945,700
+111,100
| +13% | +$5.77M |
|
467
Royal Caribbean
RCL
$82.4B
| $46.1M | 0.03% |
932,938
-58,431
| -6% | -$3.06M |
|
468
C.H. Robinson
CHRW
$17.1B
| $46.1M | 0.03% |
503,400
-48,261
| -9% | -$4.6M |
|
469
Camden Property Trust
CPT
$10.9B
| $46M | 0.03% |
411,300
-27,238
| -6% | -$3.12M |
|
470
EQT Corp
EQT
$33.8B
| $45.8M | 0.03% |
1,353,259
-88,000
| -6% | -$3.53M |
|
471
Imperial Oil
IMO
$63.1B
| $45.8M | 0.03% |
939,688
-113,700
| -11% | -$5.86M |
|
472
Globe Life
GL
$13.8B
| $45.4M | 0.03% |
376,200
-29,772
| -7% | -$3.4M |
|
473
NiSource
NI
$20.1B
| $45.2M | 0.03% |
1,649,900
-105,155
| -6% | -$2.76M |
|
474
Stanley Black & Decker
SWK
$15.5B
| $45.1M | 0.03% |
600,735
-53,473
| -8% | -$4.17M |
|
475
Charles River Laboratories
CRL
$13.6B
| $45M | 0.03% |
206,700
-13,500
| -6% | -$2.95M |
|
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.