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 | |
|---|---|---|---|---|---|---|
1601
Clear Secure
YOU
$4.7B
| $3.08M | ﹤0.01% |
149,000
-9,700
| -6% | -$189K |
|
|
HBI
1602
DELISTED
Hanesbrands
HBI
| $3.08M | ﹤0.01% |
689,500
-78,700
| -10% | -$320K |
|
1603
Buckle
BKE
$2.31B
| $3.07M | ﹤0.01% |
64,700
-1,900
| -3% | -$71.9K |
|
1604
International Seaways
INSW
$4.71B
| $3.07M | ﹤0.01% |
67,500
-7,700
| -10% | -$354K |
|
1605
Donnelley Financial Solutions
DFIN
$1.22B
| $3.07M | ﹤0.01% |
49,200
-5,800
| -11% | -$331K |
|
1606
Hawaiian Electric Industries
HE
$2.04B
| $3.07M | ﹤0.01% |
216,000
-24,900
| -10% | -$324K |
|
|
BORR
1607
Borr Drilling
BORR
$1.25B
| $3.05M | ﹤0.01% |
406,820
-44,086
| -10% | -$290K |
|
1608
Cinemark Holdings
CNK
$4.37B
| $3.04M | ﹤0.01% |
215,800
-24,800
| -10% | -$386K |
|
1609
Cracker Barrel
CBRL
$1.31B
| $3.03M | ﹤0.01% |
39,350
-4,500
| -10% | -$323K |
|
1610
IDEAYA Biosciences
IDYA
$3.53B
| $3.03M | ﹤0.01% |
85,100
-21,900
| -20% | -$654K |
|
1611
Janus International
JBI
$686M
| $3.02M | ﹤0.01% |
231,500
+21,800
| +10% | +$232K |
|
1612
Asana
ASAN
$2.28B
| $3.02M | ﹤0.01% |
158,700
-14,600
| -8% | -$284K |
|
|
UCTT
1613
Ultra Clean Holdings
UCTT
$4.21B
| $3.01M | ﹤0.01% |
88,200
-10,000
| -10% | -$278K |
|
|
AMWD
1614
DELISTED
American Woodmark
AMWD
| $3.01M | ﹤0.01% |
32,400
-3,800
| -10% | -$296K |
|
|
HTLF
1615
DELISTED
Heartland Financial USA, Inc.
HTLF
| $3.01M | ﹤0.01% |
79,900
-9,000
| -10% | -$284K |
|
1616
First Bancorp
FBNC
$2.74B
| $3M | ﹤0.01% |
81,000
-9,200
| -10% | -$289K |
|
1617
Dillards
DDS
$9.59B
| $2.99M | ﹤0.01% |
7,400
-800
| -10% | -$271K |
|
1618
Live Oak Bancshares
LOB
$2.01B
| $2.98M | ﹤0.01% |
65,600
-7,500
| -10% | -$252K |
|
1619
NovoCure
NVCR
$2.02B
| $2.98M | ﹤0.01% |
199,600
-22,000
| -10% | -$294K |
|
1620
Herbalife
HLF
$1.28B
| $2.98M | ﹤0.01% |
195,072
-22,400
| -10% | -$309K |
|
1621
Claros Mortgage Trust
CMTG
$268M
| $2.97M | ﹤0.01% |
218,178
-24,600
| -10% | -$293K |
|
1622
Addus HomeCare
ADUS
$2.2B
| $2.97M | ﹤0.01% |
32,000
-3,600
| -10% | -$313K |
|
1623
Northwest Bancshares
NWBI
$2.31B
| $2.97M | ﹤0.01% |
238,000
-41,300
| -15% | -$460K |
|
1624
Westamerica Bancorp
WABC
$1.39B
| $2.96M | ﹤0.01% |
52,500
-6,100
| -10% | -$302K |
|
1625
Fluence Energy
FLNC
$2.44B
| $2.96M | ﹤0.01% |
123,900
+33,900
| +38% | +$714K |
|
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.