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 | |
|---|---|---|---|---|---|---|
2151
Lifestance Health
LFST
$4.67B
| $1.17M | ﹤0.01% |
149,000
-16,600
| -10% | -$107K |
|
|
HSII
2152
DELISTED
Heidrick & Struggles
HSII
| $1.17M | ﹤0.01% |
39,500
-4,100
| -9% | -$109K |
|
2153
Hanmi Financial
HAFC
$956M
| $1.17M | ﹤0.01% |
60,100
-7,100
| -11% | -$119K |
|
|
LGF.A
2154
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $1.17M | ﹤0.01% |
106,950
-29,300
| -22% | -$267K |
|
2155
Argan
AGX
$8.02B
| $1.17M | ﹤0.01% |
24,900
-4,600
| -16% | -$210K |
|
|
TRST
2156
Trustco Bank Corp NY
TRST
$963M
| $1.16M | ﹤0.01% |
37,520
-4,300
| -10% | -$120K |
|
2157
Taboola.com
TBLA
$1.05B
| $1.16M | ﹤0.01% |
268,100
-26,500
| -9% | -$100K |
|
|
OLO
2158
DELISTED
Olo Inc
OLO
| $1.16M | ﹤0.01% |
202,900
-15,300
| -7% | -$84.1K |
|
2159
Treace Medical Concepts
TMCI
$309M
| $1.16M | ﹤0.01% |
90,900
-10,200
| -10% | -$103K |
|
2160
Cabaletta Bio
CABA
$465M
| $1.16M | ﹤0.01% |
51,000
-10,100
| -17% | -$170K |
|
|
VMEO
2161
DELISTED
Vimeo
VMEO
| $1.16M | ﹤0.01% |
294,818
-31,800
| -10% | -$114K |
|
2162
Cass Information Systems
CASS
$742M
| $1.16M | ﹤0.01% |
25,652
-2,700
| -10% | -$109K |
|
2163
Manitowoc
MTW
$727M
| $1.15M | ﹤0.01% |
69,150
-8,100
| -10% | -$118K |
|
2164
NRC Health Common Stock
NRC
$456M
| $1.15M | ﹤0.01% |
29,100
-3,400
| -10% | -$142K |
|
2165
V2X
VVX
$2.55B
| $1.14M | ﹤0.01% |
24,600
-2,400
| -9% | -$113K |
|
2166
Stagwell
STGW
$2.29B
| $1.14M | ﹤0.01% |
172,100
-28,500
| -14% | -$142K |
|
|
FPI
2167
Farmland Partners
FPI
$425M
| $1.14M | ﹤0.01% |
91,400
-17,000
| -16% | -$197K |
|
|
WSR
2168
DELISTED
Whitestone REIT
WSR
| $1.14M | ﹤0.01% |
92,700
-10,500
| -10% | -$113K |
|
|
EFXT
2169
Enerflex
EFXT
$2.62B
| $1.14M | ﹤0.01% |
245,500
-15,300
| -6% | -$66.6K |
|
2170
Acco Brands
ACCO
$399M
| $1.14M | ﹤0.01% |
187,100
-19,600
| -9% | -$104K |
|
2171
Stem
STEM
$48.8M
| $1.13M | ﹤0.01% |
14,585
-1,655
| -10% | -$114K |
|
2172
Beyond Meat
BYND
$214M
| $1.13M | ﹤0.01% |
127,000
| – | – |
|
|
DENN
2173
DELISTED
Denny's
DENN
| $1.13M | ﹤0.01% |
103,800
-19,800
| -16% | -$186K |
|
|
DCPH
2174
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $1.13M | ﹤0.01% |
69,900
-16,500
| -19% | -$210K |
|
2175
Midland States Bancorp
MSBI
$696M
| $1.12M | ﹤0.01% |
40,800
-4,600
| -10% | -$107K |
|
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.