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 |
Broadcom
AVGO
|
+$57.1M |
| 2 |
Veralto
VLTO
|
+$54.6M |
| 3 |
Newmont
NEM
|
+$40.4M |
| 4 |
Vertiv
VRT
|
+$17.2M |
| 5 |
Webster Financial
WBS
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$314M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$237M |
| 3 |
Microsoft
MSFT
|
+$231M |
| 4 |
VMW
VMware, Inc
VMW
|
+$130M |
| 5 |
NVIDIA
NVDA
|
+$102M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.88% |
| 2 | Healthcare | 12.91% |
| 3 | Consumer Discretionary | 12.16% |
| 4 | Industrials | 9.38% |
| 5 | Communication Services | 8.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
926
DXC Technology
DXC
$1.71B
| $9.25M | 0.01% |
404,400
-58,800
| -13% | -$1.31M |
|
927
Valley National Bancorp
VLY
$8.25B
| $9.23M | 0.01% |
850,360
-98,500
| -10% | -$884K |
|
928
Ollie's Bargain Outlet
OLLI
$4.73B
| $9.23M | 0.01% |
121,600
-14,200
| -10% | -$1.07M |
|
929
Federal Signal
FSS
$7.71B
| $9.22M | 0.01% |
120,200
-13,600
| -10% | -$907K |
|
|
FYBR
930
DELISTED
Frontier Communications
FYBR
| $9.21M | 0.01% |
363,300
-41,300
| -10% | -$834K |
|
931
Chemours
CC
$2.29B
| $9.2M | 0.01% |
291,800
-36,100
| -11% | -$980K |
|
932
Cabot Corp
CBT
$4.46B
| $9.2M | 0.01% |
110,200
-13,200
| -11% | -$981K |
|
|
BECN
933
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $9.2M | 0.01% |
105,700
-5,800
| -5% | -$455K |
|
|
EFOR
934
Everforth Inc
EFOR
$1.34B
| $9.17M | 0.01% |
95,300
-13,000
| -12% | -$1.14M |
|
935
Coca-Cola Consolidated
COKE
$12.6B
| $9.16M | 0.01% |
98,650
-12,000
| -11% | -$869K |
|
|
GAP
936
The Gap Inc
GAP
$7.29B
| $9.14M | 0.01% |
437,300
-48,100
| -10% | -$775K |
|
937
MSC Industrial Direct
MSM
$6.67B
| $9.13M | 0.01% |
90,200
-14,000
| -13% | -$1.39M |
|
938
Iridium Communications
IRDM
$5.26B
| $9.13M | 0.01% |
221,800
-27,400
| -11% | -$1.08M |
|
939
FTAI Aviation
FTAI
$23.3B
| $9.12M | 0.01% |
196,592
-22,700
| -10% | -$906K |
|
940
DoubleVerify
DV
$2.04B
| $9.12M | 0.01% |
248,000
+10,400
| +4% | +$324K |
|
941
SPX Corp
SPXC
$10.9B
| $9.07M | 0.01% |
89,818
-10,200
| -10% | -$883K |
|
942
Avnet
AVT
$7.98B
| $9.07M | 0.01% |
180,000
-20,900
| -10% | -$994K |
|
943
Louisiana-Pacific
LPX
$5.15B
| $9.06M | 0.01% |
127,900
-14,600
| -10% | -$872K |
|
944
SM Energy
SM
$7.71B
| $9.06M | 0.01% |
233,900
-31,100
| -12% | -$1.2M |
|
|
SRCL
945
DELISTED
Stericycle Inc
SRCL
| $9.03M | 0.01% |
182,300
-20,900
| -10% | -$938K |
|
946
Glacier Bancorp
GBCI
$6.4B
| $9.03M | 0.01% |
218,521
-25,200
| -10% | -$858K |
|
947
Post Holdings
POST
$3.65B
| $9.03M | 0.01% |
102,500
-16,600
| -14% | -$1.41M |
|
948
Signet Jewelers
SIG
$3.59B
| $9.02M | 0.01% |
84,100
-10,700
| -11% | -$877K |
|
949
Vornado Realty Trust
VNO
$7.33B
| $9.02M | 0.01% |
319,217
-39,300
| -11% | -$934K |
|
950
Lincoln National
LNC
$8.44B
| $9.02M | 0.01% |
334,300
-38,500
| -10% | -$926K |
|
Similar funds
Swiss National Bank's Q4 2023 Portfolio in Review
As of Q4 2023, Swiss National Bank held 2,646 positions worth $136B, up 6.9% from $127B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank withdrew a net $4.96B in Q4 2023, closing 112 positions and reducing 2,341 holdings. Its most notable exit was Activision Blizzard, an estimated $237M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Veralto worth $60.2M.
- Swiss National Bank's largest Q4 2023 buy was Veralto: 731,669 shares worth $60.2M.
- Swiss National Bank added most to Broadcom in Q4 2023, an estimated $57.1M increase.
- Swiss National Bank's biggest Q4 2023 reduction was Apple, cutting an estimated $314M.
- Swiss National Bank fully exited Activision Blizzard in Q4 2023, selling an estimated $237M.
- Swiss National Bank's ten largest holdings make up 28% of its $136B portfolio in Q4 2023.
- Swiss National Bank opened 38 new positions and closed 112 in Q4 2023.
- Swiss National Bank's portfolio value rose 6.9% quarter-over-quarter to $136B.
Based on Swiss National Bank's 13F filing for Q4 2023, filed 6 Feb 2024.