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 | |
|---|---|---|---|---|---|---|
|
KRTX
801
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| $12.7M | 0.01% |
64,600
+1,300
| +2% | +$279K |
|
|
LNW
802
DELISTED
Light & Wonder
LNW
| $12.7M | 0.01% |
216,400
+900
| +0.4% | +$51.5K |
|
803
Liberty Global Class A
LBTYA
$3.55B
| $12.7M | 0.01% |
669,298
-10,684
| -2% | -$194K |
|
804
TechnipFMC
FTI
$29.5B
| $12.6M | 0.01% |
1,037,300
+18,600
| +2% | +$208K |
|
805
Helmerich & Payne
HP
$4.29B
| $12.6M | 0.01% |
254,200
+4,500
| +2% | +$214K |
|
|
SWN
806
DELISTED
Southwestern Energy Company
SWN
| $12.6M | 0.01% |
2,152,500
+35,100
| +2% | +$231K |
|
807
HealthEquity
HQY
$8.82B
| $12.6M | 0.01% |
203,700
+3,600
| +2% | +$242K |
|
808
Exelixis
EXEL
$12.5B
| $12.5M | 0.01% |
777,100
+16,500
| +2% | +$269K |
|
809
Norwegian Cruise Line
NCLH
$8.69B
| $12.5M | 0.01% |
1,017,500
+23,700
| +2% | +$357K |
|
810
Wintrust Financial
WTFC
$11B
| $12.4M | 0.01% |
146,667
+10,900
| +8% | +$963K |
|
811
Avis
CAR
$4.93B
| $12.4M | 0.01% |
75,400
+1,000
| +1% | +$201K |
|
812
MKS Inc
MKSI
$20.7B
| $12.2M | 0.01% |
144,500
+2,800
| +2% | +$224K |
|
813
Exponent
EXPO
$3.22B
| $12.2M | 0.01% |
123,500
+700
| +0.6% | +$68K |
|
|
BLD
814
DELISTED
TopBuild
BLD
| $12.2M | 0.01% |
78,121
+400
| +0.5% | +$63.6K |
|
815
Marriott Vacations Worldwide
VAC
$4.1B
| $12.1M | 0.01% |
90,036
-3,300
| -4% | -$460K |
|
816
Eagle Materials
EXP
$6.47B
| $12.1M | 0.01% |
91,000
+400
| +0.4% | +$50.5K |
|
817
Guidewire Software
GWRE
$14.4B
| $12.1M | 0.01% |
193,100
-148,933
| -44% | -$8.84M |
|
818
Tenet Healthcare
THC
$21.5B
| $12.1M | 0.01% |
247,500
+4,800
| +2% | +$222K |
|
|
FYBR
819
DELISTED
Frontier Communications
FYBR
| $12.1M | 0.01% |
473,200
+8,500
| +2% | +$204K |
|
820
Popular Inc
BPOP
$11.2B
| $12M | 0.01% |
181,100
-500
| -0.3% | -$34.8K |
|
821
The Ensign Group
ENSG
$10.6B
| $12M | 0.01% |
126,900
+1,900
| +2% | +$172K |
|
822
Hexcel
HXL
$7.74B
| $12M | 0.01% |
203,100
+3,800
| +2% | +$218K |
|
823
Fluor
FLR
$6.96B
| $11.9M | 0.01% |
343,000
+6,300
| +2% | +$201K |
|
|
GTLS
824
DELISTED
Chart Industries
GTLS
| $11.8M | 0.01% |
102,700
+15,900
| +18% | +$2.55M |
|
|
NATI
825
DELISTED
National Instruments Corp
NATI
| $11.8M | 0.01% |
319,500
+8,400
| +3% | +$328K |
|
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.