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 |
Northrop Grumman
NOC
|
+$305M |
| 2 |
Prologis
PLD
|
+$97.9M |
| 3 |
Carlisle Companies
CSL
|
+$29.2M |
| 4 |
Healthcare Realty
HR
|
+$28.7M |
| 5 |
Gaming and Leisure Properties
GLPI
|
+$27.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$102M |
| 2 |
DRE
Duke Realty Corp.
DRE
|
+$91.2M |
| 3 |
Chevron
CVX
|
+$54.7M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$52.9M |
| 5 |
Microsoft
MSFT
|
+$27.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.12% |
| 2 | Healthcare | 15.83% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Industrials | 8.88% |
| 5 | Communication Services | 8.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1851
Revolve Group
RVLV
$1.72B
| $2.09M | ﹤0.01% |
96,500
+1,600
| +2% | +$42.1K |
|
|
VRE
1852
DELISTED
Veris Residential
VRE
| $2.09M | ﹤0.01% |
183,500
+1,400
| +0.8% | +$18.8K |
|
1853
Freedom Holding
FRHC
$9.35B
| $2.08M | ﹤0.01% |
42,300
| – | – |
|
1854
Samsara
IOT
$24B
| $2.07M | ﹤0.01% |
171,700
+20,700
| +14% | +$293K |
|
1855
CVR Energy
CVI
$3.58B
| $2.07M | ﹤0.01% |
71,400
| – | – |
|
1856
Primoris Services
PRIM
$4.35B
| $2.07M | ﹤0.01% |
127,200
| – | – |
|
1857
Benchmark Electronics
BHE
$2.89B
| $2.06M | ﹤0.01% |
83,300
| – | – |
|
1858
Planet Labs
PL
$8.82B
| $2.05M | ﹤0.01% |
377,700
| – | – |
|
|
LPRO
1859
DELISTED
Open Lending Corp
LPRO
| $2.05M | ﹤0.01% |
254,450
+1,900
| +0.8% | +$19.2K |
|
1860
Ero Copper
ERO
$3.58B
| $2.04M | ﹤0.01% |
183,300
+1,400
| +0.8% | +$13.7K |
|
|
CMRC
1861
Commerce.com Inc Series 1
CMRC
$184M
| $2.04M | ﹤0.01% |
137,900
+1,500
| +1% | +$25.7K |
|
|
BLU
1862
DELISTED
BELLUS Health Inc.
BLU
| $2.04M | ﹤0.01% |
191,700
+52,300
| +38% | +$556K |
|
1863
A10 Networks
ATEN
$1.96B
| $2.03M | ﹤0.01% |
152,800
-2,200
| -1% | -$31.3K |
|
1864
1st Source
SRCE
$2.13B
| $2.03M | ﹤0.01% |
43,789
| – | – |
|
1865
James River Group Holdings
JRVR
$200M
| $2.03M | ﹤0.01% |
88,799
+700
| +0.8% | +$16.7K |
|
|
SVC
1866
Service Properties Trust
SVC
$1.06B
| $2.03M | ﹤0.01% |
78,078
| – | – |
|
1867
QCR Holdings
QCRH
$1.75B
| $2.02M | ﹤0.01% |
39,739
| – | – |
|
|
NTST
1868
NETSTREIT Corp
NTST
$2.09B
| $2.02M | ﹤0.01% |
113,600
+9,400
| +9% | +$188K |
|
1869
Consensus Cloud Solutions
CCSI
$717M
| $2.02M | ﹤0.01% |
42,677
+400
| +0.9% | +$20.6K |
|
1870
Apogee Enterprises
APOG
$888M
| $2.01M | ﹤0.01% |
52,600
-5,900
| -10% | -$240K |
|
1871
iHeartMedia
IHRT
$464M
| $2M | ﹤0.01% |
272,500
+3,400
| +1% | +$29.4K |
|
1872
Heartland Express
HTLD
$979M
| $2M | ﹤0.01% |
139,500
| – | – |
|
|
LGF.B
1873
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $2M | ﹤0.01% |
287,194
+2,300
| +0.8% | +$20.9K |
|
1874
Varex Imaging
VREX
$780M
| $1.99M | ﹤0.01% |
94,340
+1,000
| +1% | +$21.9K |
|
1875
Vaxcyte
PCVX
$8.76B
| $1.99M | ﹤0.01% |
83,000
+3,400
| +4% | +$86.2K |
|
Similar funds
Swiss National Bank's Q3 2022 Portfolio in Review
As of Q3 2022, Swiss National Bank held 2,744 positions worth $140B, down 5.4% from $148B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Trading was light in Q3 2022: portfolio turnover was 1.2%. Swiss National Bank opened 4 new positions and exited 30, leaving the 2,744-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2022 buy was Northrop Grumman: 639,945 shares worth $301M.
- Swiss National Bank added most to Prologis in Q3 2022, an estimated $97.9M increase.
- Swiss National Bank's biggest Q3 2022 reduction was Apple, cutting an estimated $102M.
- Swiss National Bank fully exited Duke Realty Corp. in Q3 2022, selling an estimated $91.2M.
- Swiss National Bank's ten largest holdings make up 26% of its $140B portfolio in Q3 2022.
- Swiss National Bank opened 4 new positions and closed 30 in Q3 2022.
- Swiss National Bank's portfolio value fell 5.4% quarter-over-quarter to $140B.
Based on Swiss National Bank's 13F filing for Q3 2022, filed 9 Nov 2022.