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 | |
|---|---|---|---|---|---|---|
1501
Horace Mann Educators
HMN
$2.1B
| $3.69M | ﹤0.01% |
98,700
+500
| +0.5% | +$18.8K |
|
1502
Alamo Group
ALG
$1.99B
| $3.68M | ﹤0.01% |
26,000
+500
| +2% | +$72.4K |
|
1503
Valaris
VAL
$5.91B
| $3.68M | ﹤0.01% |
54,400
+1,000
| +2% | +$62.4K |
|
|
ATCO
1504
DELISTED
Atlas Corp.
ATCO
| $3.67M | ﹤0.01% |
239,100
+27,900
| +13% | +$421K |
|
|
VBTX
1505
DELISTED
Veritex Holdings
VBTX
| $3.66M | ﹤0.01% |
130,417
+2,500
| +2% | +$74.3K |
|
1506
Huron Consulting
HURN
$2.47B
| $3.66M | ﹤0.01% |
50,400
| – | – |
|
|
BWIN
1507
Baldwin Insurance Group
BWIN
$2.99B
| $3.66M | ﹤0.01% |
145,500
+5,400
| +4% | +$149K |
|
|
OPLN
1508
Openlane
OPLN
$4.33B
| $3.65M | ﹤0.01% |
279,700
-8,500
| -3% | -$114K |
|
|
XHR
1509
Xenia Hotels & Resorts
XHR
$1.76B
| $3.64M | ﹤0.01% |
276,080
+4,900
| +2% | +$72.9K |
|
|
UCTT
1510
Ultra Clean Holdings
UCTT
$4.21B
| $3.64M | ﹤0.01% |
109,700
+2,800
| +3% | +$89.3K |
|
1511
Acushnet Holdings
GOLF
$5.25B
| $3.63M | ﹤0.01% |
85,600
| – | – |
|
1512
Knowles
KN
$3.23B
| $3.63M | ﹤0.01% |
221,300
+3,700
| +2% | +$53.7K |
|
1513
Pricesmart
PSMT
$5.55B
| $3.63M | ﹤0.01% |
59,700
+1,300
| +2% | +$84.8K |
|
1514
Bumble
BMBL
$359M
| $3.62M | ﹤0.01% |
172,100
+3,200
| +2% | +$73.6K |
|
|
RVNC
1515
DELISTED
Revance Therapeutics, Inc.
RVNC
| $3.62M | ﹤0.01% |
195,850
+4,300
| +2% | +$98.4K |
|
1516
Burford Capital
BUR
$968M
| $3.61M | ﹤0.01% |
448,621
+8,355
| +2% | +$69.2K |
|
1517
Cheesecake Factory
CAKE
$5.57B
| $3.6M | ﹤0.01% |
113,500
+800
| +0.7% | +$26.7K |
|
1518
Cannae Holdings
CNNE
$675M
| $3.6M | ﹤0.01% |
174,194
-7,000
| -4% | -$153K |
|
1519
QuantumScape Corp
QS
$3.79B
| $3.59M | ﹤0.01% |
+633,300
| New | +$4.69M |
|
1520
Central Garden & Pet Co Class A
CENTA
$2.41B
| $3.58M | ﹤0.01% |
124,875
| – | – |
|
1521
Enerpac Tool Group
EPAC
$1.89B
| $3.57M | ﹤0.01% |
140,400
-3,200
| -2% | -$77.1K |
|
1522
Xencor
XNCR
$1.71B
| $3.57M | ﹤0.01% |
137,000
+2,900
| +2% | +$81.1K |
|
|
HEES
1523
DELISTED
H&E Equipment Services
HEES
| $3.56M | ﹤0.01% |
78,500
+1,500
| +2% | +$58.1K |
|
1524
InterDigital
IDCC
$8.88B
| $3.54M | ﹤0.01% |
71,600
-1,600
| -2% | -$78K |
|
1525
TTM Technologies
TTMI
$14.6B
| $3.53M | ﹤0.01% |
234,400
+6,800
| +3% | +$101K |
|
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.