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 | |
|---|---|---|---|---|---|---|
1851
Scansource
SCSC
$1.06B
| $1.94M | ﹤0.01% |
49,000
-6,200
| -11% | -$209K |
|
1852
Ichor Holdings
ICHR
$2.71B
| $1.94M | ﹤0.01% |
57,700
-6,200
| -10% | -$172K |
|
|
MODN
1853
DELISTED
MODEL N, INC.
MODN
| $1.94M | ﹤0.01% |
72,000
-7,600
| -10% | -$183K |
|
1854
Navitas Semiconductor
NVTS
$3.63B
| $1.93M | ﹤0.01% |
239,700
-25,700
| -10% | -$172K |
|
|
SPNS
1855
DELISTED
Sapiens International
SPNS
| $1.93M | ﹤0.01% |
65,508
-1,665
| -2% | -$44.3K |
|
1856
PDF Solutions
PDFS
$2.14B
| $1.93M | ﹤0.01% |
60,100
-6,500
| -10% | -$197K |
|
1857
Hain Celestial
HAIN
$55.3M
| $1.93M | ﹤0.01% |
176,314
-20,300
| -10% | -$219K |
|
1858
CAVA Group
CAVA
$8.32B
| $1.93M | ﹤0.01% |
+44,800
| New | +$1.56M |
|
1859
MannKind Corp
MNKD
$1.19B
| $1.93M | ﹤0.01% |
528,900
-52,100
| -9% | -$199K |
|
1860
QCR Holdings
QCRH
$1.74B
| $1.92M | ﹤0.01% |
32,939
-3,700
| -10% | -$192K |
|
1861
Quanterix
QTRX
$140M
| $1.92M | ﹤0.01% |
70,300
-7,900
| -10% | -$186K |
|
|
SILV
1862
DELISTED
SilverCrest Metals Inc. Common Shares
SILV
| $1.92M | ﹤0.01% |
291,700
-34,800
| -11% | -$194K |
|
1863
ZipRecruiter
ZIP
$381M
| $1.91M | ﹤0.01% |
137,600
-17,900
| -12% | -$221K |
|
|
INFN
1864
DELISTED
Infinera Corporation Common Stock
INFN
| $1.91M | ﹤0.01% |
402,500
-43,900
| -10% | -$173K |
|
1865
Nu Skin
NUS
$231M
| $1.91M | ﹤0.01% |
98,400
-11,300
| -10% | -$209K |
|
1866
Matsons
MATX
$6.44B
| $1.91M | ﹤0.01% |
17,400
-2,200
| -11% | -$209K |
|
|
BRSP
1867
BrightSpire Capital
BRSP
$628M
| $1.91M | ﹤0.01% |
256,200
-29,400
| -10% | -$192K |
|
|
BRKL
1868
DELISTED
Brookline Bancorp
BRKL
| $1.91M | ﹤0.01% |
174,700
-20,900
| -11% | -$198K |
|
1869
ADMA Biologics
ADMA
$2.12B
| $1.9M | ﹤0.01% |
421,100
-18,700
| -4% | -$69.2K |
|
1870
Liberty Latin America Class C
LILAK
$1.64B
| $1.9M | ﹤0.01% |
284,589
-85,250
| -23% | -$552K |
|
1871
Kornit Digital
KRNT
$840M
| $1.9M | ﹤0.01% |
99,100
-11,600
| -10% | -$201K |
|
1872
German American Bancorp
GABC
$1.92B
| $1.89M | ﹤0.01% |
58,350
-6,700
| -10% | -$196K |
|
|
PLYM
1873
DELISTED
Plymouth Industrial REIT
PLYM
| $1.89M | ﹤0.01% |
78,500
-6,700
| -8% | -$146K |
|
|
KLG
1874
DELISTED
WK Kellogg Co
KLG
| $1.88M | ﹤0.01% |
+143,400
| New | +$1.61M |
|
1875
Driven Brands
DRVN
$2.09B
| $1.88M | ﹤0.01% |
132,000
-15,300
| -10% | -$191K |
|
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.