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 | |
|---|---|---|---|---|---|---|
|
HTO
1476
H2O America
HTO
$2.65B
| $4.66M | ﹤0.01% |
67,000
+4,500
| +7% | +$303K |
|
1477
CBIZ
CBZ
$2.96B
| $4.65M | ﹤0.01% |
110,800
+6,400
| +6% | +$251K |
|
1478
PRA Group
PRAA
$762M
| $4.65M | ﹤0.01% |
103,100
+1,900
| +2% | +$87.9K |
|
1479
Jack in the Box
JACK
$358M
| $4.64M | ﹤0.01% |
49,700
+2,000
| +4% | +$177K |
|
1480
InterDigital
IDCC
$8.88B
| $4.63M | ﹤0.01% |
72,600
+5,000
| +7% | +$332K |
|
1481
Veracyte
VCYT
$3.42B
| $4.63M | ﹤0.01% |
168,000
+12,200
| +8% | +$349K |
|
1482
AppFolio
APPF
$7.22B
| $4.63M | ﹤0.01% |
40,900
+3,300
| +9% | +$380K |
|
1483
Ironwood Pharmaceuticals
IRWD
$674M
| $4.62M | ﹤0.01% |
367,600
+27,600
| +8% | +$316K |
|
1484
Beam Therapeutics
BEAM
$2.74B
| $4.62M | ﹤0.01% |
80,600
+7,500
| +10% | +$492K |
|
1485
CareDx
CDNA
$2.45B
| $4.62M | ﹤0.01% |
124,800
+9,000
| +8% | +$351K |
|
1486
Surgery Partners
SGRY
$1.99B
| $4.61M | ﹤0.01% |
83,700
+10,800
| +15% | +$534K |
|
|
PING
1487
DELISTED
Ping Identity Holding Corp.
PING
| $4.61M | ﹤0.01% |
168,000
+11,000
| +7% | +$231K |
|
|
ARI
1488
Apollo Commercial Real Estate
ARI
$886M
| $4.61M | ﹤0.01% |
330,739
+22,500
| +7% | +$303K |
|
1489
Pricesmart
PSMT
$5.55B
| $4.61M | ﹤0.01% |
58,400
+4,200
| +8% | +$310K |
|
|
AAT
1490
American Assets Trust
AAT
$1.41B
| $4.6M | ﹤0.01% |
121,500
+8,200
| +7% | +$300K |
|
|
NOVA
1491
DELISTED
Sunnova Energy
NOVA
| $4.59M | ﹤0.01% |
199,100
+13,900
| +8% | +$297K |
|
1492
Fastly Inc
FSLY
$4.78B
| $4.59M | ﹤0.01% |
263,900
+20,100
| +8% | +$469K |
|
|
B
1493
DELISTED
Barnes Group Inc.
B
| $4.57M | ﹤0.01% |
113,700
+7,600
| +7% | +$341K |
|
|
GMS
1494
DELISTED
GMS Inc
GMS
| $4.57M | ﹤0.01% |
91,800
+6,600
| +8% | +$347K |
|
1495
Hope Bancorp
HOPE
$1.85B
| $4.57M | ﹤0.01% |
284,157
+13,800
| +5% | +$228K |
|
|
HTLF
1496
DELISTED
Heartland Financial USA, Inc.
HTLF
| $4.54M | ﹤0.01% |
94,900
+6,300
| +7% | +$319K |
|
1497
St. Joe Company
JOE
$3.89B
| $4.54M | ﹤0.01% |
76,600
+5,200
| +7% | +$269K |
|
1498
Genworth Financial
GNW
$3.77B
| $4.54M | ﹤0.01% |
1,199,786
+80,200
| +7% | +$322K |
|
1499
Acadia Realty Trust
AKR
$2.86B
| $4.53M | ﹤0.01% |
209,200
+14,600
| +8% | +$308K |
|
1500
Cannae Holdings
CNNE
$675M
| $4.53M | ﹤0.01% |
189,194
+13,100
| +7% | +$369K |
|
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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.