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 |
Northrop Grumman
NOC
|
+$305M |
| 2 |
Prologis
PLD
|
+$97.9M |
| 3 |
Carlisle Companies
CSL
|
+$29.2M |
| 4 |
Healthcare Realty
HR
|
+$28.7M |
| 5 |
Gaming and Leisure Properties
GLPI
|
+$27.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$102M |
| 2 |
DRE
Duke Realty Corp.
DRE
|
+$91.2M |
| 3 |
Chevron
CVX
|
+$54.7M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$52.9M |
| 5 |
Microsoft
MSFT
|
+$27.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.12% |
| 2 | Healthcare | 15.83% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Industrials | 8.88% |
| 5 | Communication Services | 8.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
701
Lithia Motors
LAD
$8.32B
| $14.7M | 0.01% |
68,600
-800
| -1% | -$209K |
|
702
RenaissanceRe
RNR
$13.2B
| $14.7M | 0.01% |
104,800
+1,200
| +1% | +$167K |
|
703
Pinnacle Financial Partners Inc
PNFP
$16.1B
| $14.7M | 0.01% |
181,161
+1,800
| +1% | +$144K |
|
704
Olin
OLN
$2.13B
| $14.7M | 0.01% |
342,032
-7,200
| -2% | -$365K |
|
705
Voya Financial
VOYA
$9.01B
| $14.7M | 0.01% |
242,300
-7,300
| -3% | -$446K |
|
706
Royal Gold
RGLD
$19.7B
| $14.6M | 0.01% |
155,600
+1,000
| +0.6% | +$99K |
|
707
Ciena
CIEN
$61.2B
| $14.6M | 0.01% |
360,700
+300
| +0.1% | +$14.4K |
|
708
Prosperity Bancshares
PB
$8.95B
| $14.6M | 0.01% |
218,567
+1,400
| +0.6% | +$100K |
|
709
Old Republic International
ORI
$10.3B
| $14.5M | 0.01% |
694,500
+4,800
| +0.7% | +$108K |
|
710
CACI
CACI
$15B
| $14.5M | 0.01% |
55,500
+400
| +0.7% | +$113K |
|
711
Westlake Corp
WLK
$10.1B
| $14.5M | 0.01% |
166,500
-300
| -0.2% | -$28.8K |
|
712
AGCO
AGCO
$7.11B
| $14.5M | 0.01% |
150,300
+1,100
| +0.7% | +$115K |
|
713
Graphic Packaging
GPK
$3.46B
| $14.4M | 0.01% |
731,100
+7,600
| +1% | +$167K |
|
714
Grab
GRAB
$14.7B
| $14.4M | 0.01% |
5,478,000
+907,400
| +20% | +$2.75M |
|
|
XIFR
715
XPLR Infrastructure LP
XIFR
$1.08B
| $14.4M | 0.01% |
199,000
+1,400
| +0.7% | +$112K |
|
|
AIRC
716
DELISTED
Apartment Income REIT Corp.
AIRC
| $14.4M | 0.01% |
372,484
+2,700
| +0.7% | +$114K |
|
|
BERY
717
DELISTED
Berry Global Group, Inc.
BERY
| $14.4M | 0.01% |
336,521
-10,563
| -3% | -$531K |
|
718
Donaldson
DCI
$11.2B
| $14.4M | 0.01% |
293,000
+2,100
| +0.7% | +$110K |
|
719
KBR
KBR
$4.8B
| $14.3M | 0.01% |
330,941
+2,300
| +0.7% | +$113K |
|
720
EastGroup Properties
EGP
$10.9B
| $14.3M | 0.01% |
98,787
+1,600
| +2% | +$261K |
|
|
KRTX
721
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| $14.2M | 0.01% |
63,300
+10,700
| +20% | +$2.17M |
|
722
RBC Bearings
RBC
$17.6B
| $14.2M | 0.01% |
68,490
+500
| +0.7% | +$115K |
|
723
SouthState Bank Corp
SSB
$10.7B
| $14.2M | 0.01% |
178,937
-500
| -0.3% | -$40.2K |
|
724
Interactive Brokers
IBKR
$41.5B
| $14.2M | 0.01% |
885,600
+6,400
| +0.7% | +$98.6K |
|
725
Dick's Sporting Goods
DKS
$18.1B
| $14.1M | 0.01% |
134,900
-13,300
| -9% | -$1.35M |
|
Similar funds
Swiss National Bank's Q3 2022 Portfolio in Review
As of Q3 2022, Swiss National Bank held 2,744 positions worth $140B, down 5.4% from $148B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Trading was light in Q3 2022: portfolio turnover was 1.2%. Swiss National Bank opened 4 new positions and exited 30, leaving the 2,744-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2022 buy was Northrop Grumman: 639,945 shares worth $301M.
- Swiss National Bank added most to Prologis in Q3 2022, an estimated $97.9M increase.
- Swiss National Bank's biggest Q3 2022 reduction was Apple, cutting an estimated $102M.
- Swiss National Bank fully exited Duke Realty Corp. in Q3 2022, selling an estimated $91.2M.
- Swiss National Bank's ten largest holdings make up 26% of its $140B portfolio in Q3 2022.
- Swiss National Bank opened 4 new positions and closed 30 in Q3 2022.
- Swiss National Bank's portfolio value fell 5.4% quarter-over-quarter to $140B.
Based on Swiss National Bank's 13F filing for Q3 2022, filed 9 Nov 2022.