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 |
L3Harris
LHX
|
+$154M |
| 2 |
GE HealthCare
GEHC
|
+$103M |
| 3 |
Atlassian
TEAM
|
+$94.5M |
| 4 |
AXON
Axon Enterprise
AXON
|
+$21M |
| 5 |
Reliance Steel & Aluminium
RS
|
+$20.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$322M |
| 2 |
Microsoft
MSFT
|
+$176M |
| 3 |
GE Aerospace
GE
|
+$115M |
| 4 |
Amazon
AMZN
|
+$79.9M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$77.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.64% |
| 2 | Healthcare | 14.81% |
| 3 | Consumer Discretionary | 11.76% |
| 4 | Industrials | 9.45% |
| 5 | Communication Services | 8.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1926
Live Oak Bancshares
LOB
$1.99B
| $1.74M | ﹤0.01% |
71,200
-8,200
| -10% | -$257K |
|
1927
Preferred Bank
PFBC
$1.28B
| $1.73M | ﹤0.01% |
31,589
-3,500
| -10% | -$237K |
|
|
PGRE
1928
DELISTED
Paramount Group
PGRE
| $1.73M | ﹤0.01% |
379,543
-55,800
| -13% | -$306K |
|
|
AHRT
1929
AH Realty Trust
AHRT
$506M
| $1.73M | ﹤0.01% |
146,200
-17,400
| -11% | -$214K |
|
1930
IonQ
IONQ
$18.6B
| $1.73M | ﹤0.01% |
280,500
-32,100
| -10% | -$150K |
|
|
MORF
1931
DELISTED
Morphic Holding, Inc. Common Stock
MORF
| $1.72M | ﹤0.01% |
45,800
-5,300
| -10% | -$195K |
|
1932
Enanta Pharmaceuticals
ENTA
$407M
| $1.72M | ﹤0.01% |
42,600
-4,900
| -10% | -$234K |
|
1933
Camtek
CAMT
$8.13B
| $1.72M | ﹤0.01% |
62,736
-7,107
| -10% | -$189K |
|
1934
1st Source
SRCE
$2.15B
| $1.72M | ﹤0.01% |
39,889
-4,700
| -11% | -$230K |
|
|
PENG
1935
Penguin Solutions Inc
PENG
$3.19B
| $1.72M | ﹤0.01% |
99,700
-14,900
| -13% | -$249K |
|
1936
Janus International
JBI
$667M
| $1.72M | ﹤0.01% |
174,100
-20,700
| -11% | -$216K |
|
1937
indie Semiconductor
INDI
$845M
| $1.71M | ﹤0.01% |
162,000
-11,300
| -7% | -$101K |
|
1938
Arcus Biosciences
RCUS
$3.67B
| $1.71M | ﹤0.01% |
93,696
-10,800
| -10% | -$206K |
|
|
CCRN
1939
DELISTED
Cross Country Healthcare
CCRN
| $1.71M | ﹤0.01% |
76,500
-11,200
| -13% | -$293K |
|
|
RDUS
1940
DELISTED
Radius Recycling
RDUS
| $1.7M | ﹤0.01% |
54,800
-7,700
| -12% | -$250K |
|
1941
Caleres
CAL
$454M
| $1.7M | ﹤0.01% |
78,700
-10,000
| -11% | -$240K |
|
|
FORG
1942
DELISTED
ForgeRock, Inc.
FORG
| $1.7M | ﹤0.01% |
82,400
-9,300
| -10% | -$189K |
|
1943
Zentalis Pharmaceuticals
ZNTL
$307M
| $1.69M | ﹤0.01% |
98,500
-11,500
| -10% | -$233K |
|
|
UMH
1944
UMH Properties
UMH
$1.41B
| $1.69M | ﹤0.01% |
114,300
-12,100
| -10% | -$199K |
|
|
AAMI
1945
Acadian Asset Management
AAMI
$3.26B
| $1.69M | ﹤0.01% |
71,526
-8,500
| -11% | -$200K |
|
|
ROCC
1946
DELISTED
Ranger Oil Corporation Class A Common Stock
ROCC
| $1.68M | ﹤0.01% |
41,200
-6,600
| -14% | -$270K |
|
|
OLO
1947
DELISTED
Olo Inc
OLO
| $1.68M | ﹤0.01% |
205,800
-16,500
| -7% | -$127K |
|
1948
Clean Energy Fuels
CLNE
$397M
| $1.67M | ﹤0.01% |
384,058
-45,200
| -11% | -$233K |
|
1949
Harmony Biosciences
HRMY
$2.26B
| $1.67M | ﹤0.01% |
51,200
-5,900
| -10% | -$269K |
|
1950
James River Group Holdings
JRVR
$204M
| $1.67M | ﹤0.01% |
80,899
-9,500
| -11% | -$209K |
|
Similar funds
Swiss National Bank's Q1 2023 Portfolio in Review
As of Q1 2023, Swiss National Bank held 2,715 positions worth $146B, up 4.7% from $139B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Swiss National Bank withdrew a net $4.63B in Q1 2023, closing 72 positions and reducing 2,517 holdings. Its most notable exit was STORE Capital Corporation, an estimated $19.7M position sold in full.
By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 25% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in L3Harris worth $148M.
- Swiss National Bank's largest Q1 2023 buy was L3Harris: 754,729 shares worth $148M.
- Swiss National Bank added most to Axon Enterprise in Q1 2023, an estimated $21M increase.
- Swiss National Bank's biggest Q1 2023 reduction was Apple, cutting an estimated $322M.
- Swiss National Bank fully exited STORE Capital Corporation in Q1 2023, selling an estimated $19.7M.
- Swiss National Bank's ten largest holdings make up 26% of its $146B portfolio in Q1 2023.
- Swiss National Bank opened 37 new positions and closed 72 in Q1 2023.
- Swiss National Bank's portfolio value rose 4.7% quarter-over-quarter to $146B.
Based on Swiss National Bank's 13F filing for Q1 2023, filed 10 May 2023.