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 |
L3Harris
LHX
|
+$154M |
| 2 |
GE HealthCare
GEHC
|
+$103M |
| 3 |
Atlassian
TEAM
|
+$94.5M |
| 4 |
AXON
Axon Enterprise
AXON
|
+$21M |
| 5 |
Reliance Steel & Aluminium
RS
|
+$20.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$322M |
| 2 |
Microsoft
MSFT
|
+$176M |
| 3 |
GE Aerospace
GE
|
+$115M |
| 4 |
Amazon
AMZN
|
+$79.9M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$77.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.64% |
| 2 | Healthcare | 14.81% |
| 3 | Consumer Discretionary | 11.76% |
| 4 | Industrials | 9.45% |
| 5 | Communication Services | 8.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1676
OFG Bancorp
OFG
$2.26B
| $2.56M | ﹤0.01% |
102,700
-12,600
| -11% | -$352K |
|
|
DEA
1677
Easterly Government Properties
DEA
$1.18B
| $2.56M | ﹤0.01% |
74,484
-8,840
| -11% | -$331K |
|
1678
Pathward Financial
CASH
$1.79B
| $2.55M | ﹤0.01% |
61,400
-8,700
| -12% | -$410K |
|
1679
Mativ Holdings
MATV
$667M
| $2.55M | ﹤0.01% |
118,612
-14,000
| -11% | -$345K |
|
1680
Wabash National
WNC
$509M
| $2.55M | ﹤0.01% |
103,500
-13,700
| -12% | -$355K |
|
1681
Encore Capital Group
ECPG
$2.15B
| $2.54M | ﹤0.01% |
50,400
-7,400
| -13% | -$387K |
|
|
MNTV
1682
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $2.54M | ﹤0.01% |
272,700
-28,600
| -9% | -$224K |
|
1683
Hudbay
HBM
$11.8B
| $2.54M | ﹤0.01% |
484,800
-55,300
| -10% | -$291K |
|
1684
Pediatrix Medical
MD
$2.14B
| $2.54M | ﹤0.01% |
170,300
-23,200
| -12% | -$351K |
|
1685
CryoPort
CYRX
$766M
| $2.54M | ﹤0.01% |
105,700
-11,400
| -10% | -$248K |
|
1686
Hope Bancorp
HOPE
$1.85B
| $2.53M | ﹤0.01% |
257,957
-30,500
| -11% | -$374K |
|
1687
Napco Security Technologies
NSSC
$1.37B
| $2.53M | ﹤0.01% |
67,400
-8,000
| -11% | -$255K |
|
1688
Chefs' Warehouse
CHEF
$4.57B
| $2.53M | ﹤0.01% |
74,300
-8,800
| -11% | -$309K |
|
1689
Upstart Holdings
UPST
$3.01B
| $2.53M | ﹤0.01% |
159,100
-17,700
| -10% | -$298K |
|
1690
Adtran
ADTN
$658M
| $2.53M | ﹤0.01% |
159,278
-18,300
| -10% | -$318K |
|
1691
TriMas Corp
TRS
$1.39B
| $2.52M | ﹤0.01% |
90,600
-10,700
| -11% | -$314K |
|
1692
FB Financial Corp
FBK
$3.1B
| $2.52M | ﹤0.01% |
81,083
-9,400
| -10% | -$336K |
|
|
CDMO
1693
DELISTED
Avid Bioservices, Inc. Common Stock
CDMO
| $2.52M | ﹤0.01% |
134,200
-15,900
| -11% | -$261K |
|
|
AIV
1694
Aimco
AIV
$379M
| $2.52M | ﹤0.01% |
327,284
-40,100
| -11% | -$299K |
|
1695
Digital Turbine
APPS
$1.53B
| $2.51M | ﹤0.01% |
203,100
-23,600
| -10% | -$317K |
|
|
AKRO
1696
DELISTED
Akero Therapeutics
AKRO
| $2.51M | ﹤0.01% |
65,600
-5,400
| -8% | -$241K |
|
1697
Energy Recovery
ERII
$399M
| $2.51M | ﹤0.01% |
108,800
-11,700
| -10% | -$257K |
|
|
SASR
1698
DELISTED
Sandy Spring Bancorp Inc
SASR
| $2.5M | ﹤0.01% |
96,335
-11,400
| -11% | -$367K |
|
1699
FuelCell Energy
FCEL
$1.63B
| $2.49M | ﹤0.01% |
29,177
-1,940
| -6% | -$191K |
|
|
TA
1700
DELISTED
TravelCenters of America LLC
TA
| $2.49M | ﹤0.01% |
28,800
-3,500
| -11% | -$230K |
|
Similar funds
Swiss National Bank's Q1 2023 Portfolio in Review
As of Q1 2023, Swiss National Bank held 2,715 positions worth $146B, up 4.7% from $139B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Swiss National Bank withdrew a net $4.63B in Q1 2023, closing 72 positions and reducing 2,517 holdings. Its most notable exit was STORE Capital Corporation, an estimated $19.7M position sold in full.
By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 25% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in L3Harris worth $148M.
- Swiss National Bank's largest Q1 2023 buy was L3Harris: 754,729 shares worth $148M.
- Swiss National Bank added most to Axon Enterprise in Q1 2023, an estimated $21M increase.
- Swiss National Bank's biggest Q1 2023 reduction was Apple, cutting an estimated $322M.
- Swiss National Bank fully exited STORE Capital Corporation in Q1 2023, selling an estimated $19.7M.
- Swiss National Bank's ten largest holdings make up 26% of its $146B portfolio in Q1 2023.
- Swiss National Bank opened 37 new positions and closed 72 in Q1 2023.
- Swiss National Bank's portfolio value rose 4.7% quarter-over-quarter to $146B.
Based on Swiss National Bank's 13F filing for Q1 2023, filed 10 May 2023.