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 | |
|---|---|---|---|---|---|---|
|
MCW
1976
DELISTED
Mister Car Wash
MCW
| $1.6M | ﹤0.01% |
184,800
-18,700
| -9% | -$127K |
|
|
ETNB
1977
DELISTED
89bio
ETNB
| $1.6M | ﹤0.01% |
142,800
+30,700
| +27% | +$282K |
|
|
HOUS
1978
DELISTED
Anywhere Real Estate
HOUS
| $1.59M | ﹤0.01% |
196,000
-22,400
| -10% | -$127K |
|
1979
Sturm, Ruger & Co
RGR
$600M
| $1.59M | ﹤0.01% |
34,900
-4,100
| -11% | -$197K |
|
1980
Grid Dynamics Holdings
GDYN
$632M
| $1.58M | ﹤0.01% |
118,700
-4,800
| -4% | -$58.5K |
|
1981
SI-BONE Inc
SIBN
$852M
| $1.58M | ﹤0.01% |
75,300
-1,300
| -2% | -$24.1K |
|
|
NXRT
1982
NexPoint Residential Trust
NXRT
$631M
| $1.57M | ﹤0.01% |
45,609
-5,200
| -10% | -$162K |
|
1983
Vita Coco
COCO
$3.85B
| $1.57M | ﹤0.01% |
61,200
-6,900
| -10% | -$187K |
|
|
SPTN
1984
DELISTED
SpartanNash
SPTN
| $1.57M | ﹤0.01% |
68,280
-7,800
| -10% | -$177K |
|
1985
PC Connection
CNXN
$2.03B
| $1.57M | ﹤0.01% |
23,300
-2,700
| -10% | -$161K |
|
1986
Cerence
CRNC
$391M
| $1.56M | ﹤0.01% |
79,550
-9,100
| -10% | -$158K |
|
1987
Amplitude
AMPL
$1.55B
| $1.56M | ﹤0.01% |
122,900
| – | – |
|
1988
Titan International
TWI
$450M
| $1.56M | ﹤0.01% |
105,000
-12,900
| -11% | -$170K |
|
1989
Gorman-Rupp
GRC
$2.15B
| $1.56M | ﹤0.01% |
43,947
-7,900
| -15% | -$255K |
|
|
IAS
1990
DELISTED
Integral Ad Science
IAS
| $1.55M | ﹤0.01% |
108,000
-11,200
| -9% | -$150K |
|
|
RDUS
1991
DELISTED
Radius Recycling
RDUS
| $1.54M | ﹤0.01% |
51,200
-5,900
| -10% | -$155K |
|
1992
Barrett Business Services
BBSI
$756M
| $1.54M | ﹤0.01% |
53,200
-7,200
| -12% | -$186K |
|
1993
WisdomTree
WT
$3.44B
| $1.54M | ﹤0.01% |
222,200
-23,900
| -10% | -$158K |
|
1994
Standard Motor Products
SMP
$877M
| $1.54M | ﹤0.01% |
38,600
-4,300
| -10% | -$153K |
|
|
AMK
1995
DELISTED
AssetMark Financial Holdings, Inc.
AMK
| $1.54M | ﹤0.01% |
51,300
-5,600
| -10% | -$144K |
|
1996
Methode Electronics
MEI
$602M
| $1.53M | ﹤0.01% |
67,500
-10,900
| -14% | -$255K |
|
|
ADAM
1997
Adamas Trust
ADAM
$913M
| $1.53M | ﹤0.01% |
179,830
-20,400
| -10% | -$172K |
|
|
NVRO
1998
DELISTED
NEVRO CORP.
NVRO
| $1.53M | ﹤0.01% |
71,200
-7,600
| -10% | -$136K |
|
|
KREF
1999
KKR Real Estate Finance Trust
KREF
$493M
| $1.53M | ﹤0.01% |
115,700
-13,400
| -10% | -$161K |
|
|
CCRN
2000
DELISTED
Cross Country Healthcare
CCRN
| $1.52M | ﹤0.01% |
67,100
-7,500
| -10% | -$163K |
|
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.