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 |
First Solar
FSLR
|
+$24M |
| 2 |
Ovintiv
OVV
|
+$22M |
| 3 |
Hubbell
HUBB
|
+$21.8M |
| 4 |
U-Haul Holding Co Series N
UHAL.B
|
+$20.7M |
| 5 |
Lamb Weston
LW
|
+$20.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$690M |
| 2 |
Microsoft
MSFT
|
+$479M |
| 3 |
Amazon
AMZN
|
+$239M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$182M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.31% |
| 2 | Healthcare | 16.63% |
| 3 | Consumer Discretionary | 10.98% |
| 4 | Industrials | 9.76% |
| 5 | Consumer Staples | 7.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ATRI
1926
DELISTED
Atrion Corp
ATRI
| $1.9M | ﹤0.01% |
3,402
| – | – |
|
1927
Origin Bancorp
OBK
$1.69B
| $1.9M | ﹤0.01% |
51,682
+1,000
| +2% | +$39.7K |
|
1928
Enact Holdings
ACT
$6.84B
| $1.9M | ﹤0.01% |
78,600
+1,900
| +2% | +$46.4K |
|
|
ORLA
1929
DELISTED
Orla Mining
ORLA
| $1.89M | ﹤0.01% |
468,300
| – | – |
|
|
OSG
1930
Octave Specialty Group
OSG
$212M
| $1.89M | ﹤0.01% |
108,500
+1,700
| +2% | +$25.3K |
|
1931
Fate Therapeutics
FATE
$294M
| $1.89M | ﹤0.01% |
187,400
+4,100
| +2% | +$77K |
|
1932
James River Group Holdings
JRVR
$200M
| $1.89M | ﹤0.01% |
90,399
+1,600
| +2% | +$36.7K |
|
1933
International Money Express
IMXI
$353M
| $1.88M | ﹤0.01% |
77,300
| – | – |
|
|
AHRT
1934
AH Realty Trust
AHRT
$506M
| $1.88M | ﹤0.01% |
163,600
+3,000
| +2% | +$34.6K |
|
1935
RCI Hospitality Holdings
RICK
$230M
| $1.87M | ﹤0.01% |
20,100
+1,100
| +6% | +$91.6K |
|
|
INN
1936
Summit Hotel Properties
INN
$656M
| $1.86M | ﹤0.01% |
258,100
+6,300
| +3% | +$49.3K |
|
|
JAMF
1937
DELISTED
Jamf
JAMF
| $1.86M | ﹤0.01% |
87,400
+2,200
| +3% | +$48.4K |
|
1938
Ichor Holdings
ICHR
$2.67B
| $1.86M | ﹤0.01% |
69,400
+1,500
| +2% | +$40K |
|
|
ZUO
1939
DELISTED
Zuora, Inc.
ZUO
| $1.86M | ﹤0.01% |
292,600
+5,400
| +2% | +$38.2K |
|
1940
Titan International
TWI
$438M
| $1.86M | ﹤0.01% |
121,400
+2,500
| +2% | +$35.7K |
|
|
PLYM
1941
DELISTED
Plymouth Industrial REIT
PLYM
| $1.86M | ﹤0.01% |
96,900
+1,800
| +2% | +$34.1K |
|
1942
Janus International
JBI
$686M
| $1.85M | ﹤0.01% |
194,800
+4,900
| +3% | +$47.3K |
|
1943
Univest Financial
UVSP
$1.19B
| $1.85M | ﹤0.01% |
70,878
+1,200
| +2% | +$32.2K |
|
1944
Hims & Hers Health
HIMS
$6.71B
| $1.85M | ﹤0.01% |
287,900
+6,600
| +2% | +$37.6K |
|
1945
Adaptive Biotechnologies
ADPT
$3.89B
| $1.85M | ﹤0.01% |
241,500
+5,400
| +2% | +$42K |
|
1946
Green Dot
GDOT
$770M
| $1.84M | ﹤0.01% |
116,300
| – | – |
|
1947
Bank First Corp
BFC
$1.76B
| $1.84M | ﹤0.01% |
19,817
+400
| +2% | +$35.5K |
|
1948
ADMA Biologics
ADMA
$2.11B
| $1.83M | ﹤0.01% |
+472,300
| New | +$1.46M |
|
|
AGNT
1949
AGNT Inc
AGNT
$752M
| $1.83M | ﹤0.01% |
165,000
+4,500
| +3% | +$54.5K |
|
1950
Iovance Biotherapeutics
IOVA
$2.95B
| $1.83M | ﹤0.01% |
285,756
+6,200
| +2% | +$48.4K |
|
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Swiss National Bank's Q4 2022 Portfolio in Review
As of Q4 2022, Swiss National Bank held 2,795 positions worth $139B, down 0.37% from $140B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Swiss National Bank withdrew a net $9.35B in Q4 2022, closing 116 positions and reducing 810 holdings. Its most notable exit was Twitter, Inc., an estimated $123M position sold in full.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in U-Haul Holding Co Series N worth $19.6M.
- Swiss National Bank's largest Q4 2022 buy was U-Haul Holding Co Series N: 356,731 shares worth $19.6M.
- Swiss National Bank added most to First Solar in Q4 2022, an estimated $24M increase.
- Swiss National Bank's biggest Q4 2022 reduction was Apple, cutting an estimated $690M.
- Swiss National Bank fully exited Twitter, Inc. in Q4 2022, selling an estimated $123M.
- Swiss National Bank's ten largest holdings make up 23% of its $139B portfolio in Q4 2022.
- Swiss National Bank opened 81 new positions and closed 116 in Q4 2022.
- Swiss National Bank's portfolio value fell 0.37% quarter-over-quarter to $139B.
Based on Swiss National Bank's 13F filing for Q4 2022, filed 8 Feb 2023.