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 |
Apple
AAPL
|
+$1.38B |
| 2 |
Microsoft
MSFT
|
+$1.13B |
| 3 |
Amazon
AMZN
|
+$756M |
| 4 |
Tesla
TSLA
|
+$466M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$431M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
XLNX
Xilinx Inc
XLNX
|
+$199M |
| 2 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$191M |
| 3 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$62.8M |
| 4 |
KL
Kirkland Lake Gold Ltd Ordinary
KL
|
+$43.9M |
| 5 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$42.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.22% |
| 2 | Healthcare | 14.23% |
| 3 | Consumer Discretionary | 13.07% |
| 4 | Communication Services | 9.53% |
| 5 | Industrials | 8.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Aon
AON
$75.6B
| $311M | 0.18% |
954,374
+96,300
| +11% | +$28M |
|
102
EOG Resources
EOG
$75.2B
| $302M | 0.17% |
2,534,156
+315,000
| +14% | +$35.1M |
|
103
Norfolk Southern
NSC
$75.2B
| $301M | 0.17% |
1,053,962
+115,300
| +12% | +$31.8M |
|
|
XYZ
104
Block Inc
XYZ
$47.5B
| $298M | 0.17% |
2,200,147
+689,691
| +46% | +$83.5M |
|
105
Dominion Energy
D
$59.9B
| $298M | 0.17% |
3,507,936
+434,900
| +14% | +$34.9M |
|
106
Charter Communications
CHTR
$18.8B
| $297M | 0.17% |
543,643
+54,500
| +11% | +$32M |
|
107
Equinix
EQIX
$102B
| $289M | 0.16% |
390,059
+48,900
| +14% | +$35.2M |
|
108
Progressive
PGR
$123B
| $289M | 0.16% |
2,533,831
+309,700
| +14% | +$33.5M |
|
109
Ford
F
$55.7B
| $288M | 0.16% |
17,002,015
+2,087,400
| +14% | +$39.7M |
|
110
Vertex Pharmaceuticals
VRTX
$134B
| $287M | 0.16% |
1,101,175
+115,100
| +12% | +$27.3M |
|
111
Waste Management
WM
$90.7B
| $287M | 0.16% |
1,811,902
+211,300
| +13% | +$32M |
|
112
Illinois Tool Works
ITW
$83.5B
| $285M | 0.16% |
1,359,552
+162,400
| +14% | +$36.4M |
|
113
Newmont
NEM
$124B
| $274M | 0.15% |
3,453,933
+416,400
| +14% | +$28.2M |
|
114
Boston Scientific
BSX
$74.2B
| $273M | 0.15% |
6,171,980
+760,000
| +14% | +$32.9M |
|
115
Estee Lauder
EL
$31.8B
| $273M | 0.15% |
1,003,625
+117,900
| +13% | +$35.5M |
|
|
ATVI
116
DELISTED
Activision Blizzard
ATVI
| $270M | 0.15% |
3,373,545
+417,500
| +14% | +$32.5M |
|
117
HCA Healthcare
HCA
$89.1B
| $270M | 0.15% |
1,077,669
+104,300
| +11% | +$26.2M |
|
118
Sherwin-Williams
SHW
$88.5B
| $269M | 0.15% |
1,078,842
+128,200
| +13% | +$35.4M |
|
119
Public Storage
PSA
$60.7B
| $267M | 0.15% |
683,588
+84,100
| +14% | +$30.5M |
|
120
Palo Alto Networks
PANW
$313B
| $266M | 0.15% |
2,563,716
+343,200
| +15% | +$30.7M |
|
121
Fidelity National Information Services
FIS
$22.1B
| $265M | 0.15% |
2,637,469
+289,700
| +12% | +$30.3M |
|
122
Colgate-Palmolive
CL
$73.6B
| $263M | 0.15% |
3,468,073
+422,200
| +14% | +$33.4M |
|
123
Eaton
ETN
$178B
| $262M | 0.15% |
1,726,487
+211,500
| +14% | +$33.1M |
|
124
Nutrien
NTR
$32.1B
| $262M | 0.15% |
2,535,552
+290,100
| +13% | +$24M |
|
|
FISV
125
Fiserv Inc
FISV
$28B
| $261M | 0.15% |
2,573,635
+308,400
| +14% | +$31.2M |
|
Similar funds
Swiss National Bank's Q1 2022 Portfolio in Review
As of Q1 2022, Swiss National Bank held 2,722 positions worth $177B, up 6.8% from $166B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank deployed $20.2B of net new capital in Q1 2022, opening 3 new positions and adding to 2,642 existing holdings. Its largest new stake was Constellation Energy: 1,411,783 shares worth $79.4M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Exelon, an estimated $41.2M trimmed.
- Swiss National Bank's largest Q1 2022 buy was Constellation Energy: 1,411,783 shares worth $79.4M.
- Swiss National Bank added most to Apple in Q1 2022, an estimated $1.38B increase.
- Swiss National Bank's biggest Q1 2022 reduction was Exelon, cutting an estimated $41.2M.
- Swiss National Bank fully exited Xilinx Inc in Q1 2022, selling an estimated $199M.
- Swiss National Bank's ten largest holdings make up 28% of its $177B portfolio in Q1 2022.
- Swiss National Bank opened 3 new positions and closed 31 in Q1 2022.
- Swiss National Bank's portfolio value rose 6.8% quarter-over-quarter to $177B.
Based on Swiss National Bank's 13F filing for Q1 2022, filed 9 May 2022.