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 | |
|---|---|---|---|---|---|---|
1751
Kirby Corp
KEX
$7.23B
| $2.3M | ﹤0.01% |
29,357
-3,600
| -11% | -$282K |
|
|
SAGE
1752
DELISTED
Sage Therapeutics
SAGE
| $2.3M | ﹤0.01% |
106,200
-12,000
| -10% | -$238K |
|
1753
Middlesex Water
MSEX
$1.11B
| $2.29M | ﹤0.01% |
34,962
-3,900
| -10% | -$257K |
|
1754
National Beverage
FIZZ
$2.93B
| $2.29M | ﹤0.01% |
46,000
-5,300
| -10% | -$254K |
|
|
VRE
1755
DELISTED
Veris Residential
VRE
| $2.28M | ﹤0.01% |
145,100
-16,100
| -10% | -$240K |
|
1756
Xencor
XNCR
$1.71B
| $2.28M | ﹤0.01% |
107,500
-12,000
| -10% | -$228K |
|
1757
Joby Aviation
JOBY
$8.14B
| $2.27M | ﹤0.01% |
341,800
-38,800
| -10% | -$239K |
|
1758
Perdoceo Education
PRDO
$2B
| $2.27M | ﹤0.01% |
129,300
-19,000
| -13% | -$335K |
|
1759
Coeur Mining
CDE
$18.9B
| $2.27M | ﹤0.01% |
696,000
-35,900
| -5% | -$98K |
|
|
ESMT
1760
DELISTED
EngageSmart, Inc.
ESMT
| $2.26M | ﹤0.01% |
98,900
-11,000
| -10% | -$244K |
|
|
MFA
1761
MFA Financial
MFA
$933M
| $2.26M | ﹤0.01% |
200,875
-23,200
| -10% | -$235K |
|
1762
Archer Aviation
ACHR
$5.36B
| $2.26M | ﹤0.01% |
368,100
+83,800
| +29% | +$476K |
|
|
MDRX
1763
DELISTED
Veradigm Inc. Common Stock
MDRX
| $2.26M | ﹤0.01% |
215,300
-24,900
| -10% | -$305K |
|
1764
Energy Fuels
UUUU
$3.64B
| $2.25M | ﹤0.01% |
313,500
-34,900
| -10% | -$270K |
|
1765
Krispy Kreme
DNUT
$578M
| $2.25M | ﹤0.01% |
149,200
-17,200
| -10% | -$227K |
|
1766
Kaiser Aluminum
KALU
$3.03B
| $2.25M | ﹤0.01% |
31,600
-3,500
| -10% | -$222K |
|
|
SCS
1767
DELISTED
Steelcase
SCS
| $2.25M | ﹤0.01% |
166,100
-19,100
| -10% | -$227K |
|
1768
LeMaitre Vascular
LMAT
$1.89B
| $2.24M | ﹤0.01% |
39,500
-4,400
| -10% | -$230K |
|
1769
Peoples Bancorp
PEBO
$1.48B
| $2.24M | ﹤0.01% |
66,300
-3,700
| -5% | -$108K |
|
1770
BioCryst Pharmaceuticals
BCRX
$2.49B
| $2.24M | ﹤0.01% |
373,468
-41,900
| -10% | -$243K |
|
1771
Napco Security Technologies
NSSC
$1.38B
| $2.24M | ﹤0.01% |
65,300
-7,500
| -10% | -$199K |
|
1772
Victory Capital Holdings
VCTR
$7.21B
| $2.23M | ﹤0.01% |
64,800
+5,900
| +10% | +$189K |
|
|
CIM
1773
Chimera Investment
CIM
$1B
| $2.23M | ﹤0.01% |
148,927
-21,133
| -12% | -$319K |
|
1774
Malibu Boats
MBUU
$573M
| $2.22M | ﹤0.01% |
40,500
-4,900
| -11% | -$235K |
|
1775
Safety Insurance
SAFT
$1.52B
| $2.22M | ﹤0.01% |
29,200
-3,500
| -11% | -$264K |
|
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.