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 | |
|---|---|---|---|---|---|---|
1876
Transcat
TRNS
$898M
| $1.88M | ﹤0.01% |
17,215
+400
| +2% | +$38.5K |
|
1877
Beazer Homes USA
BZH
$874M
| $1.88M | ﹤0.01% |
55,600
-6,500
| -10% | -$178K |
|
1878
ZIM Integrated Shipping Services
ZIM
$3.28B
| $1.88M | ﹤0.01% |
190,300
-22,600
| -11% | -$190K |
|
|
HAPN
1879
Happen Inc
HAPN
$2.26B
| $1.87M | ﹤0.01% |
214,260
-22,000
| -9% | -$138K |
|
|
EFC
1880
Ellington Financial
EFC
$1.76B
| $1.87M | ﹤0.01% |
147,300
+7,100
| +5% | +$90K |
|
|
UMH
1881
UMH Properties
UMH
$1.41B
| $1.87M | ﹤0.01% |
122,200
-4,700
| -4% | -$67.7K |
|
1882
United Natural Foods
UNFI
$2.91B
| $1.87M | ﹤0.01% |
115,300
-14,000
| -11% | -$213K |
|
|
PENG
1883
Penguin Solutions Inc
PENG
$3.19B
| $1.87M | ﹤0.01% |
98,600
-11,400
| -10% | -$197K |
|
|
ARR
1884
Armour Residential REIT
ARR
$2.37B
| $1.87M | ﹤0.01% |
96,563
+10,601
| +12% | +$187K |
|
1885
Vir Biotechnology
VIR
$1.54B
| $1.86M | ﹤0.01% |
185,200
-6,300
| -3% | -$57.6K |
|
1886
NovaGold Resources
NG
$3.38B
| $1.86M | ﹤0.01% |
496,600
-55,700
| -10% | -$209K |
|
1887
Algoma Steel
ASTL
$471M
| $1.86M | ﹤0.01% |
184,807
-7,500
| -4% | -$58K |
|
1888
Dime Commercial Bancshares
DCOM
$1.82B
| $1.86M | ﹤0.01% |
68,902
-7,900
| -10% | -$169K |
|
1889
Innoviva
INVA
$1.51B
| $1.85M | ﹤0.01% |
115,400
-14,200
| -11% | -$199K |
|
1890
Deluxe
DLX
$1.09B
| $1.84M | ﹤0.01% |
86,000
-9,500
| -10% | -$177K |
|
1891
Scholar Rock
SRRK
$6.68B
| $1.84M | ﹤0.01% |
98,100
+14,500
| +17% | +$180K |
|
|
CHS
1892
DELISTED
Chicos FAS, Inc.
CHS
| $1.84M | ﹤0.01% |
243,300
-26,600
| -10% | -$200K |
|
1893
Digi International
DGII
$3.22B
| $1.84M | ﹤0.01% |
70,900
-8,000
| -10% | -$198K |
|
1894
RxSight
RXST
$288M
| $1.84M | ﹤0.01% |
45,700
+1,300
| +3% | +$38.1K |
|
1895
FuboTV Inc
FUBO
$290M
| $1.83M | ﹤0.01% |
48,050
-5,408
| -10% | -$187K |
|
|
BDN
1896
Brandywine Realty Trust
BDN
$548M
| $1.83M | ﹤0.01% |
339,200
-38,700
| -10% | -$170K |
|
1897
A10 Networks
ATEN
$1.98B
| $1.83M | ﹤0.01% |
138,700
-15,800
| -10% | -$192K |
|
1898
Enact Holdings
ACT
$6.81B
| $1.82M | ﹤0.01% |
63,100
-8,000
| -11% | -$223K |
|
|
MRC
1899
DELISTED
MRC Global
MRC
| $1.82M | ﹤0.01% |
165,549
-19,600
| -11% | -$205K |
|
1900
Arcus Biosciences
RCUS
$3.68B
| $1.82M | ﹤0.01% |
95,396
-9,000
| -9% | -$144K |
|
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.