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 | |
|---|---|---|---|---|---|---|
1351
Enlight Renewable Energy
ENLT
$12.1B
| $4.53M | ﹤0.01% |
233,292
-27,119
| -10% | -$424K |
|
|
PRFT
1352
DELISTED
Perficient Inc
PRFT
| $4.52M | ﹤0.01% |
68,700
-7,900
| -10% | -$486K |
|
1353
Four Corners Property Trust
FCPT
$2.76B
| $4.52M | ﹤0.01% |
178,507
-12,800
| -7% | -$293K |
|
1354
Chesapeake Utilities
CPK
$3.26B
| $4.52M | ﹤0.01% |
42,750
+3,600
| +9% | +$343K |
|
1355
TripAdvisor
TRIP
$1.28B
| $4.51M | ﹤0.01% |
209,700
-32,000
| -13% | -$561K |
|
1356
Archrock
AROC
$5.85B
| $4.51M | ﹤0.01% |
293,000
-17,000
| -5% | -$236K |
|
1357
Extreme Networks
EXTR
$3.21B
| $4.5M | ﹤0.01% |
255,300
-28,200
| -10% | -$533K |
|
1358
Alamo Group
ALG
$2.01B
| $4.48M | ﹤0.01% |
21,300
-2,500
| -11% | -$457K |
|
1359
NCR Voyix
VYX
$1.15B
| $4.46M | ﹤0.01% |
263,759
-214,090
| -45% | -$3.42M |
|
1360
Krystal Biotech
KRYS
$9.78B
| $4.45M | ﹤0.01% |
35,900
-3,500
| -9% | -$388K |
|
1361
Clearway Energy Class C
CWEN
$7.02B
| $4.45M | ﹤0.01% |
162,350
-18,800
| -10% | -$439K |
|
1362
First Financial Bancorp
FFBC
$3.6B
| $4.45M | ﹤0.01% |
187,443
-21,800
| -10% | -$452K |
|
1363
Eastern Bankshares
EBC
$5.36B
| $4.44M | ﹤0.01% |
312,800
-36,100
| -10% | -$451K |
|
1364
Mueller Water Products
MWA
$4.01B
| $4.44M | ﹤0.01% |
308,400
-35,500
| -10% | -$469K |
|
1365
Viavi Solutions
VIAV
$10.6B
| $4.43M | ﹤0.01% |
439,700
-48,900
| -10% | -$411K |
|
1366
Schrodinger
SDGR
$1.38B
| $4.42M | ﹤0.01% |
123,600
-13,500
| -10% | -$392K |
|
1367
American Airlines Group
AAL
$9.94B
| $4.42M | ﹤0.01% |
321,900
-36,900
| -10% | -$463K |
|
1368
Granite Construction
GVA
$5.45B
| $4.4M | ﹤0.01% |
86,600
-9,800
| -10% | -$427K |
|
1369
Dorman Products
DORM
$3.95B
| $4.4M | ﹤0.01% |
52,800
-6,000
| -10% | -$448K |
|
1370
CareTrust REIT
CTRE
$9.19B
| $4.39M | ﹤0.01% |
196,049
-22,700
| -10% | -$502K |
|
1371
Surgery Partners
SGRY
$1.99B
| $4.39M | ﹤0.01% |
137,100
-15,800
| -10% | -$458K |
|
1372
First Merchants
FRME
$2.72B
| $4.36M | ﹤0.01% |
117,662
-13,500
| -10% | -$418K |
|
1373
Bausch Health
BHC
$2.35B
| $4.35M | ﹤0.01% |
541,460
-59,800
| -10% | -$436K |
|
1374
Bloomin' Brands
BLMN
$938M
| $4.35M | ﹤0.01% |
154,500
-37,400
| -19% | -$909K |
|
1375
TransAlta
TAC
$3.98B
| $4.35M | ﹤0.01% |
521,900
+24,600
| +5% | +$199K |
|
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.