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 | |
|---|---|---|---|---|---|---|
1701
First Busey Corp
BUSE
$2.58B
| $2.57M | ﹤0.01% |
103,499
-12,000
| -10% | -$257K |
|
1702
CTS Corp
CTS
$1.79B
| $2.57M | ﹤0.01% |
58,700
-7,200
| -11% | -$290K |
|
|
PMT
1703
PennyMac Mortgage Investment
PMT
$827M
| $2.56M | ﹤0.01% |
171,000
-22,500
| -12% | -$302K |
|
1704
Provident Financial Services
PFS
$3.26B
| $2.55M | ﹤0.01% |
141,500
-16,300
| -10% | -$256K |
|
1705
Kforce
KFRC
$1.08B
| $2.55M | ﹤0.01% |
37,700
-4,800
| -11% | -$306K |
|
|
ELME
1706
Elme Communities
ELME
$145M
| $2.53M | ﹤0.01% |
173,100
-19,800
| -10% | -$271K |
|
1707
Marten Transport
MRTN
$1.24B
| $2.52M | ﹤0.01% |
120,175
-13,700
| -10% | -$262K |
|
1708
S&T Bancorp
STBA
$1.82B
| $2.52M | ﹤0.01% |
75,400
-10,300
| -12% | -$295K |
|
1709
National Healthcare
NHC
$3.46B
| $2.52M | ﹤0.01% |
27,230
-2,900
| -10% | -$222K |
|
|
SAND
1710
DELISTED
Sandstorm Gold
SAND
| $2.51M | ﹤0.01% |
498,762
-61,100
| -11% | -$291K |
|
|
TGI
1711
DELISTED
Triumph Group
TGI
| $2.51M | ﹤0.01% |
151,200
+7,200
| +5% | +$73K |
|
|
GOGL
1712
DELISTED
Golden Ocean Group
GOGL
| $2.5M | ﹤0.01% |
257,034
-31,425
| -11% | -$262K |
|
|
VBTX
1713
DELISTED
Veritex Holdings
VBTX
| $2.49M | ﹤0.01% |
107,017
-12,200
| -10% | -$240K |
|
1714
Hims & Hers Health
HIMS
$6.75B
| $2.49M | ﹤0.01% |
279,500
-29,700
| -10% | -$220K |
|
1715
OneSpaWorld
OSW
$2.74B
| $2.49M | ﹤0.01% |
176,400
-20,300
| -10% | -$236K |
|
|
STEL
1716
DELISTED
Stellar Bancorp
STEL
| $2.49M | ﹤0.01% |
89,262
-10,300
| -10% | -$247K |
|
|
DEA
1717
Easterly Government Properties
DEA
$1.18B
| $2.47M | ﹤0.01% |
73,644
-8,480
| -10% | -$251K |
|
1718
Appian
APPN
$2.64B
| $2.47M | ﹤0.01% |
65,700
-3,000
| -4% | -$117K |
|
1719
UFP Technologies
UFPT
$2.48B
| $2.46M | ﹤0.01% |
14,300
-1,600
| -10% | -$259K |
|
1720
Chegg
CHGG
$89.3M
| $2.45M | ﹤0.01% |
215,900
-34,200
| -14% | -$325K |
|
1721
Alaska Air
ALK
$5.31B
| $2.45M | ﹤0.01% |
62,700
-7,600
| -11% | -$271K |
|
1722
Agios Pharmaceuticals
AGIO
$2B
| $2.45M | ﹤0.01% |
109,860
-12,300
| -10% | -$276K |
|
1723
Madison Square Garden
MSGE
$3.99B
| $2.45M | ﹤0.01% |
76,959
-4,400
| -5% | -$137K |
|
1724
Winmark
WINA
$1.25B
| $2.42M | ﹤0.01% |
5,800
-700
| -11% | -$294K |
|
1725
Aurinia Pharmaceuticals
AUPH
$2.02B
| $2.41M | ﹤0.01% |
268,500
-30,200
| -10% | -$249K |
|
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.