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 | |
|---|---|---|---|---|---|---|
676
AptarGroup
ATR
$8.47B
| $17.4M | 0.01% |
157,800
+2,300
| +1% | +$236K |
|
677
Churchill Downs
CHDN
$6.17B
| $17.3M | 0.01% |
163,800
+1,400
| +0.9% | +$148K |
|
678
Organon & Co
OGN
$3.59B
| $17.2M | 0.01% |
614,175
+12,700
| +2% | +$325K |
|
679
Old Republic International
ORI
$10.3B
| $17.1M | 0.01% |
708,700
+14,200
| +2% | +$333K |
|
680
Bruker
BRKR
$9.03B
| $17.1M | 0.01% |
250,400
+2,600
| +1% | +$165K |
|
681
Interactive Brokers
IBKR
$41.5B
| $17.1M | 0.01% |
943,600
+58,000
| +7% | +$1.08M |
|
682
Valmont Industries
VMI
$9.52B
| $17M | 0.01% |
51,500
+1,000
| +2% | +$317K |
|
683
CACI
CACI
$15B
| $17M | 0.01% |
56,500
+1,000
| +2% | +$292K |
|
684
Fox Class B
FOX
$23.5B
| $16.9M | 0.01% |
593,934
-43,837
| -7% | -$1.25M |
|
685
Grab
GRAB
$14.7B
| $16.8M | 0.01% |
5,210,600
-267,400
| -5% | -$766K |
|
686
DaVita
DVA
$11.6B
| $16.6M | 0.01% |
222,600
-23,635
| -10% | -$1.84M |
|
687
US Foods
USFD
$24B
| $16.6M | 0.01% |
487,955
+10,100
| +2% | +$323K |
|
688
Middleby
MIDD
$5.38B
| $16.6M | 0.01% |
123,700
+1,200
| +1% | +$163K |
|
689
Graphic Packaging
GPK
$3.46B
| $16.5M | 0.01% |
743,300
+12,200
| +2% | +$268K |
|
690
Brixmor Property Group
BRX
$9.12B
| $16.4M | 0.01% |
723,600
+13,300
| +2% | +$285K |
|
691
Nexstar Media Group
NXST
$5.7B
| $16.4M | 0.01% |
93,660
-2,200
| -2% | -$386K |
|
692
Matador Resources
MTDR
$6.5B
| $16.3M | 0.01% |
285,202
+5,100
| +2% | +$322K |
|
693
ITT
ITT
$19.4B
| $16.2M | 0.01% |
199,700
+1,700
| +0.9% | +$132K |
|
694
Dick's Sporting Goods
DKS
$18.1B
| $16.2M | 0.01% |
134,300
-600
| -0.4% | -$67.6K |
|
695
Crocs
CROX
$6.26B
| $16.1M | 0.01% |
148,900
+2,900
| +2% | +$256K |
|
696
Southern Copper
SCCO
$165B
| $16.1M | 0.01% |
291,276
-327
| -0.1% | -$16.5K |
|
697
Planet Fitness
PLNT
$3.65B
| $16M | 0.01% |
203,385
+2,000
| +1% | +$140K |
|
698
Prosperity Bancshares
PB
$8.95B
| $16M | 0.01% |
220,267
+1,700
| +0.8% | +$123K |
|
699
Tencent Music
TME
$13.9B
| $16M | 0.01% |
1,930,053
-3,200
| -0.2% | -$18K |
|
700
Westlake Corp
WLK
$10.1B
| $16M | 0.01% |
155,700
-10,800
| -6% | -$1.09M |
|
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.