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 | |
|---|---|---|---|---|---|---|
|
BRSP
2101
BrightSpire Capital
BRSP
$629M
| $1.45M | ﹤0.01% |
233,100
| – | – |
|
|
DCBO
2102
Docebo
DCBO
$566M
| $1.45M | ﹤0.01% |
43,900
+1,000
| +2% | +$30K |
|
2103
Genesco
GCO
$393M
| $1.45M | ﹤0.01% |
31,500
+600
| +2% | +$27.2K |
|
2104
MBIA
MBI
$255M
| $1.45M | ﹤0.01% |
112,600
+2,000
| +2% | +$22.8K |
|
2105
WisdomTree
WT
$3.4B
| $1.45M | ﹤0.01% |
265,400
+4,700
| +2% | +$24.4K |
|
|
TA
2106
DELISTED
TravelCenters of America LLC
TA
| $1.45M | ﹤0.01% |
32,300
+800
| +3% | +$41.4K |
|
|
MTTR
2107
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
| $1.44M | ﹤0.01% |
513,900
+12,500
| +2% | +$40K |
|
|
LAND
2108
Gladstone Land Corp
LAND
$358M
| $1.44M | ﹤0.01% |
78,400
+1,500
| +2% | +$29.3K |
|
2109
G-III Apparel Group
GIII
$1.43B
| $1.44M | ﹤0.01% |
104,800
+1,500
| +1% | +$25.2K |
|
2110
Cass Information Systems
CASS
$750M
| $1.44M | ﹤0.01% |
31,352
+600
| +2% | +$25.1K |
|
2111
CEVA Inc
CEVA
$877M
| $1.44M | ﹤0.01% |
56,100
+1,100
| +2% | +$29.6K |
|
2112
Simulations Plus
SLP
$371M
| $1.43M | ﹤0.01% |
39,100
+1,000
| +3% | +$42.1K |
|
2113
Great Southern Bancorp
GSBC
$882M
| $1.43M | ﹤0.01% |
24,000
| – | – |
|
2114
Horizon Bancorp
HBNC
$1.06B
| $1.43M | ﹤0.01% |
94,650
+2,100
| +2% | +$34.6K |
|
|
XRN
2115
Chiron Real Estate Inc
XRN
$487M
| $1.42M | ﹤0.01% |
30,060
+540
| +2% | +$24.4K |
|
2116
First Mid Bancshares
FMBH
$1.39B
| $1.42M | ﹤0.01% |
44,400
+1,100
| +3% | +$37.3K |
|
2117
Stoneridge
SRI
$199M
| $1.42M | ﹤0.01% |
66,000
+1,700
| +3% | +$36.4K |
|
2118
Select Water Solutions
WTTR
$2.73B
| $1.42M | ﹤0.01% |
154,000
+2,900
| +2% | +$24.4K |
|
2119
Franklin Covey
FC
$227M
| $1.42M | ﹤0.01% |
30,400
| – | – |
|
2120
Koppers
KOP
$873M
| $1.42M | ﹤0.01% |
50,400
| – | – |
|
|
NNDM
2121
Nano Dimension
NNDM
$346M
| $1.41M | ﹤0.01% |
615,100
| – | – |
|
2122
Fulgent Genetics
FLGT
$516M
| $1.41M | ﹤0.01% |
47,500
+800
| +2% | +$28.6K |
|
2123
United Fire Group
UFCS
$1.37B
| $1.41M | ﹤0.01% |
51,700
+1,300
| +3% | +$37.9K |
|
2124
Genco Shipping & Trading
GNK
$1.12B
| $1.41M | ﹤0.01% |
91,800
+2,900
| +3% | +$42K |
|
2125
Resources Connection
RGP
$144M
| $1.41M | ﹤0.01% |
76,700
+2,100
| +3% | +$38.6K |
|
Similar funds
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.