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 | |
|---|---|---|---|---|---|---|
576
Aecom
ACM
$7.85B
| $27.2M | 0.02% |
320,280
+2,600
| +0.8% | +$204K |
|
577
Credicorp
BAP
$29.6B
| $27.1M | 0.02% |
199,552
+3,000
| +2% | +$425K |
|
|
AXON
578
Axon Enterprise
AXON
$48.7B
| $27.1M | 0.02% |
163,100
+3,100
| +2% | +$490K |
|
579
Assurant
AIZ
$13.9B
| $27M | 0.02% |
216,200
-18,344
| -8% | -$2.44M |
|
|
MPT
580
Medical Properties Trust
MPT
$2.42B
| $27M | 0.02% |
2,425,700
-175,022
| -7% | -$2.03M |
|
581
RB Global
RBA
$16B
| $27M | 0.02% |
467,200
-30,300
| -6% | -$1.76M |
|
582
Service Corp International
SCI
$11.5B
| $26.3M | 0.02% |
380,800
+4,400
| +1% | +$293K |
|
583
Plug Power
PLUG
$3.2B
| $26.2M | 0.02% |
2,116,788
-137,956
| -6% | -$2.2M |
|
|
LSXMK
584
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $26.1M | 0.02% |
862,127
-62,851
| -7% | -$2.01M |
|
585
Generac Holdings
GNRC
$13.1B
| $26.1M | 0.02% |
259,500
-16,895
| -6% | -$1.91M |
|
586
CAE Inc. Common Shares
CAE
$8.9B
| $25.9M | 0.02% |
1,340,100
-84,000
| -6% | -$1.61M |
|
587
Erie Indemnity
ERIE
$13.5B
| $25.7M | 0.02% |
103,220
-6,526
| -6% | -$1.68M |
|
588
Deckers Outdoor
DECK
$12.4B
| $25.5M | 0.02% |
384,000
+3,000
| +0.8% | +$181K |
|
589
Sensata Technologies
ST
$6.72B
| $25.5M | 0.02% |
630,950
-49,154
| -7% | -$2.05M |
|
590
KE Holdings
BEKE
$19.2B
| $25.2M | 0.02% |
1,806,683
-3,000
| -0.2% | -$41.7K |
|
591
Dropbox
DBX
$7.31B
| $25M | 0.02% |
1,119,300
-150,530
| -12% | -$3.31M |
|
592
Descartes Systems
DSGX
$6.65B
| $24.9M | 0.02% |
357,424
+155,024
| +77% | +$10.6M |
|
593
Sarepta Therapeutics
SRPT
$1.94B
| $24.7M | 0.02% |
190,300
-6,800
| -3% | -$788K |
|
594
Builders FirstSource
BLDR
$7.79B
| $24.5M | 0.02% |
376,887
-32,800
| -8% | -$2.05M |
|
|
AZPN
595
DELISTED
Aspen Technology Inc
AZPN
| $24.2M | 0.02% |
117,700
+53,656
| +84% | +$12.5M |
|
596
Rivian
RIVN
$23.1B
| $23.8M | 0.02% |
1,292,100
-62,100
| -5% | -$1.83M |
|
597
Five Below
FIVE
$13.2B
| $23.7M | 0.02% |
134,059
+2,400
| +2% | +$377K |
|
598
Flex
FLEX
$46B
| $23.6M | 0.02% |
1,461,425
+21,365
| +1% | +$321K |
|
599
WillScot Mobile Mini Holdings
WSC
$4B
| $23.3M | 0.02% |
515,993
-11,700
| -2% | -$525K |
|
600
Reinsurance Group of America
RGA
$16.1B
| $23M | 0.02% |
161,800
+2,900
| +2% | +$405K |
|
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.