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 | |
|---|---|---|---|---|---|---|
|
GOLD
2176
Gold.com Inc
GOLD
$1.3B
| $1.12M | ﹤0.01% |
37,100
-3,900
| -10% | -$111K |
|
|
ECHO
2177
EchoStar
ECHO
$26.9B
| $1.12M | ﹤0.01% |
67,700
-7,700
| -10% | -$99.2K |
|
2178
Great Southern Bancorp
GSBC
$877M
| $1.12M | ﹤0.01% |
18,900
-2,200
| -10% | -$115K |
|
|
UHT
2179
Universal Health Realty Income Trust
UHT
$573M
| $1.12M | ﹤0.01% |
25,900
-2,900
| -10% | -$118K |
|
2180
Ennis
EBF
$556M
| $1.12M | ﹤0.01% |
51,000
-5,900
| -10% | -$127K |
|
2181
BioLife Solutions
BLFS
$1.71B
| $1.11M | ﹤0.01% |
68,600
-7,900
| -10% | -$101K |
|
2182
Mitek Systems
MITK
$838M
| $1.11M | ﹤0.01% |
85,400
-7,900
| -8% | -$88K |
|
2183
Mesa Laboratories
MLAB
$631M
| $1.11M | ﹤0.01% |
10,602
-1,200
| -10% | -$117K |
|
2184
Fulgent Genetics
FLGT
$515M
| $1.11M | ﹤0.01% |
38,400
-4,100
| -10% | -$110K |
|
2185
RCI Hospitality Holdings
RICK
$214M
| $1.11M | ﹤0.01% |
16,700
-2,000
| -11% | -$117K |
|
|
VZIO
2186
DELISTED
VIZIO Holding Corp.
VZIO
| $1.1M | ﹤0.01% |
143,500
| – | – |
|
2187
Hackett Group
HCKT
$278M
| $1.1M | ﹤0.01% |
48,292
-2,500
| -5% | -$56.7K |
|
2188
TETRA Technologies
TTI
$1.29B
| $1.1M | ﹤0.01% |
242,600
-27,700
| -10% | -$140K |
|
|
RAPT
2189
DELISTED
RAPT Therapeutics
RAPT
| $1.09M | ﹤0.01% |
5,500
-638
| -10% | -$79K |
|
|
ALPN
2190
DELISTED
Alpine Immune Sciences Inc
ALPN
| $1.09M | ﹤0.01% |
57,200
+15,000
| +36% | +$208K |
|
2191
York Water
YORW
$528M
| $1.09M | ﹤0.01% |
28,200
-3,200
| -10% | -$121K |
|
2192
Washington Trust Bancorp
WASH
$750M
| $1.09M | ﹤0.01% |
33,600
-3,500
| -9% | -$95.3K |
|
|
HDSN
2193
Hudson Technologies
HDSN
$236M
| $1.09M | ﹤0.01% |
+80,600
| New | +$1.04M |
|
2194
Lightwave Logic
LWLG
$1.23B
| $1.09M | ﹤0.01% |
218,100
-20,900
| -9% | -$98.5K |
|
2195
Metropolitan Bank Holding Corp
MCB
$1.17B
| $1.09M | ﹤0.01% |
19,600
-3,800
| -16% | -$150K |
|
2196
NerdWallet
NRDS
$617M
| $1.08M | ﹤0.01% |
73,600
| – | – |
|
2197
Castle Biosciences
CSTL
$960M
| $1.08M | ﹤0.01% |
50,200
-5,000
| -9% | -$88K |
|
2198
Adtran
ADTN
$665M
| $1.08M | ﹤0.01% |
147,278
-15,400
| -9% | -$101K |
|
2199
Skywest
SKYW
$4.16B
| $1.08M | ﹤0.01% |
20,700
-3,700
| -15% | -$166K |
|
|
PETQ
2200
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
| $1.08M | ﹤0.01% |
+54,700
| New | +$1.05M |
|
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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.