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 |
Northrop Grumman
NOC
|
+$305M |
| 2 |
Prologis
PLD
|
+$97.9M |
| 3 |
Carlisle Companies
CSL
|
+$29.2M |
| 4 |
Healthcare Realty
HR
|
+$28.7M |
| 5 |
Gaming and Leisure Properties
GLPI
|
+$27.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$102M |
| 2 |
DRE
Duke Realty Corp.
DRE
|
+$91.2M |
| 3 |
Chevron
CVX
|
+$54.7M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$52.9M |
| 5 |
Microsoft
MSFT
|
+$27.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.12% |
| 2 | Healthcare | 15.83% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Industrials | 8.88% |
| 5 | Communication Services | 8.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2101
Quanex
NX
$981M
| $1.44M | ﹤0.01% |
79,300
| – | – |
|
|
CHS
2102
DELISTED
Chicos FAS, Inc.
CHS
| $1.44M | ﹤0.01% |
296,700
+8,200
| +3% | +$45.6K |
|
|
SGMO
2103
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
| $1.44M | ﹤0.01% |
292,760
| – | – |
|
2104
E.W. Scripps
SSP
$315M
| $1.43M | ﹤0.01% |
126,916
+1,800
| +1% | +$25.5K |
|
|
TRST
2105
Trustco Bank Corp NY
TRST
$976M
| $1.43M | ﹤0.01% |
45,520
| – | – |
|
|
FPI
2106
Farmland Partners
FPI
$425M
| $1.43M | ﹤0.01% |
112,800
+8,900
| +9% | +$127K |
|
2107
NRC Health Common Stock
NRC
$458M
| $1.43M | ﹤0.01% |
35,900
| – | – |
|
2108
BlueLinx
BXC
$703M
| $1.43M | ﹤0.01% |
23,000
| – | – |
|
2109
Modine Manufacturing
MOD
$10.9B
| $1.43M | ﹤0.01% |
110,100
| – | – |
|
|
MRC
2110
DELISTED
MRC Global
MRC
| $1.42M | ﹤0.01% |
197,949
+1,900
| +1% | +$18.7K |
|
|
GOOD
2111
Gladstone Commercial Corp
GOOD
$636M
| $1.42M | ﹤0.01% |
91,600
+3,500
| +4% | +$66.7K |
|
2112
Microvision
MVIS
$90.2M
| $1.41M | ﹤0.01% |
26,120
+247
| +1% | +$17.5K |
|
|
VMEO
2113
DELISTED
Vimeo
VMEO
| $1.41M | ﹤0.01% |
353,418
+3,200
| +0.9% | +$18.9K |
|
2114
Nektar Therapeutics
NKTR
$2.59B
| $1.41M | ﹤0.01% |
29,447
+354
| +1% | +$21.1K |
|
2115
Coherus Oncology
CHRS
$178M
| $1.41M | ﹤0.01% |
146,900
+1,700
| +1% | +$17.2K |
|
|
MORF
2116
DELISTED
Morphic Holding, Inc. Common Stock
MORF
| $1.41M | ﹤0.01% |
49,900
+2,000
| +4% | +$55.8K |
|
|
ABST
2117
DELISTED
Absolute Software Corp
ABST
| $1.41M | ﹤0.01% |
121,000
+1,000
| +0.8% | +$10.2K |
|
2118
Metallus
MTUS
$895M
| $1.41M | ﹤0.01% |
94,000
+1,100
| +1% | +$18.3K |
|
2119
ImmunityBio
IBRX
$8.13B
| $1.4M | ﹤0.01% |
281,100
| – | – |
|
2120
FIGS
FIGS
$2.42B
| $1.4M | ﹤0.01% |
169,200
+8,400
| +5% | +$89.4K |
|
|
LAND
2121
Gladstone Land Corp
LAND
$358M
| $1.39M | ﹤0.01% |
76,900
| – | – |
|
2122
TORM
TRMD
$3B
| $1.39M | ﹤0.01% |
67,957
+531
| +0.8% | +$9.55K |
|
2123
Algoma Steel
ASTL
$474M
| $1.39M | ﹤0.01% |
213,407
+2,696
| +1% | +$24.1K |
|
|
CRON
2124
Cronos Group
CRON
$1.18B
| $1.39M | ﹤0.01% |
490,400
+3,800
| +0.8% | +$11.7K |
|
2125
First Mid Bancshares
FMBH
$1.39B
| $1.38M | ﹤0.01% |
43,300
| – | – |
|
Similar funds
Swiss National Bank's Q3 2022 Portfolio in Review
As of Q3 2022, Swiss National Bank held 2,744 positions worth $140B, down 5.4% from $148B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Trading was light in Q3 2022: portfolio turnover was 1.2%. Swiss National Bank opened 4 new positions and exited 30, leaving the 2,744-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2022 buy was Northrop Grumman: 639,945 shares worth $301M.
- Swiss National Bank added most to Prologis in Q3 2022, an estimated $97.9M increase.
- Swiss National Bank's biggest Q3 2022 reduction was Apple, cutting an estimated $102M.
- Swiss National Bank fully exited Duke Realty Corp. in Q3 2022, selling an estimated $91.2M.
- Swiss National Bank's ten largest holdings make up 26% of its $140B portfolio in Q3 2022.
- Swiss National Bank opened 4 new positions and closed 30 in Q3 2022.
- Swiss National Bank's portfolio value fell 5.4% quarter-over-quarter to $140B.
Based on Swiss National Bank's 13F filing for Q3 2022, filed 9 Nov 2022.