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 |
Apple
AAPL
|
+$1.38B |
| 2 |
Microsoft
MSFT
|
+$1.13B |
| 3 |
Amazon
AMZN
|
+$756M |
| 4 |
Tesla
TSLA
|
+$466M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$431M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
XLNX
Xilinx Inc
XLNX
|
+$199M |
| 2 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$191M |
| 3 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$62.8M |
| 4 |
KL
Kirkland Lake Gold Ltd Ordinary
KL
|
+$43.9M |
| 5 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$42.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.22% |
| 2 | Healthcare | 14.23% |
| 3 | Consumer Discretionary | 13.07% |
| 4 | Communication Services | 9.53% |
| 5 | Industrials | 8.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SRDX
2201
DELISTED
Surmodics
SRDX
| $1.49M | ﹤0.01% |
32,900
+2,600
| +9% | +$114K |
|
2202
Vanda Pharmaceuticals
VNDA
$314M
| $1.49M | ﹤0.01% |
131,700
+8,900
| +7% | +$117K |
|
2203
Great Southern Bancorp
GSBC
$877M
| $1.49M | ﹤0.01% |
25,200
+1,200
| +5% | +$72.3K |
|
|
AAWW
2204
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $1.49M | ﹤0.01% |
17,200
+1,100
| +7% | +$90.4K |
|
2205
CRA International
CRAI
$1.06B
| $1.48M | ﹤0.01% |
17,600
+1,300
| +8% | +$114K |
|
2206
Inogen
INGN
$154M
| $1.48M | ﹤0.01% |
45,700
+3,700
| +9% | +$116K |
|
2207
uniQure
QURE
$3.13B
| $1.48M | ﹤0.01% |
82,000
+5,700
| +7% | +$99.5K |
|
2208
Fulcrum Therapeutics
FULC
$284M
| $1.48M | ﹤0.01% |
62,400
+6,200
| +11% | +$87.8K |
|
|
DADA
2209
DELISTED
Dada Nexus
DADA
| $1.47M | ﹤0.01% |
161,247
+18,100
| +13% | +$176K |
|
2210
Tucows
TCX
$140M
| $1.47M | ﹤0.01% |
21,500
+1,600
| +8% | +$118K |
|
|
ATSG
2211
DELISTED
Air Transport Services Group
ATSG
| $1.47M | ﹤0.01% |
43,850
+2,900
| +7% | +$84.7K |
|
2212
PC Connection
CNXN
$2.03B
| $1.46M | ﹤0.01% |
27,900
+1,900
| +7% | +$89.8K |
|
|
TRST
2213
Trustco Bank Corp NY
TRST
$963M
| $1.45M | ﹤0.01% |
45,520
+3,000
| +7% | +$102K |
|
2214
i3 Verticals
IIIV
$323M
| $1.45M | ﹤0.01% |
52,100
+3,700
| +8% | +$91.2K |
|
2215
Rocket Pharmaceuticals
RCKT
$374M
| $1.45M | ﹤0.01% |
91,400
+7,300
| +9% | +$126K |
|
|
CVGW
2216
DELISTED
Calavo Growers
CVGW
| $1.45M | ﹤0.01% |
39,700
+2,700
| +7% | +$110K |
|
|
TDAY
2217
USA Today Co
TDAY
$1.01B
| $1.44M | ﹤0.01% |
319,700
+20,600
| +7% | +$104K |
|
2218
Movado Group
MOV
$815M
| $1.44M | ﹤0.01% |
36,800
+2,000
| +6% | +$75.9K |
|
2219
SI-BONE Inc
SIBN
$852M
| $1.43M | ﹤0.01% |
63,400
+5,400
| +9% | +$112K |
|
|
RYZ
2220
Ryerson Holding Corp
RYZ
$1.5B
| $1.43M | ﹤0.01% |
40,900
+2,800
| +7% | +$76.2K |
|
|
TSVT
2221
DELISTED
2seventy bio
TSVT
| $1.43M | ﹤0.01% |
83,902
+34,200
| +69% | +$580K |
|
|
PETQ
2222
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
| $1.43M | ﹤0.01% |
58,600
+4,500
| +8% | +$94.7K |
|
2223
Midland States Bancorp
MSBI
$696M
| $1.43M | ﹤0.01% |
49,500
+2,600
| +6% | +$74.4K |
|
2224
Napco Security Technologies
NSSC
$1.39B
| $1.43M | ﹤0.01% |
69,500
+4,700
| +7% | +$97.6K |
|
2225
OptimizeRx
OPRX
$132M
| $1.43M | ﹤0.01% |
37,800
+2,900
| +8% | +$128K |
|
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Swiss National Bank's Q1 2022 Portfolio in Review
As of Q1 2022, Swiss National Bank held 2,722 positions worth $177B, up 6.8% from $166B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank deployed $20.2B of net new capital in Q1 2022, opening 3 new positions and adding to 2,642 existing holdings. Its largest new stake was Constellation Energy: 1,411,783 shares worth $79.4M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Exelon, an estimated $41.2M trimmed.
- Swiss National Bank's largest Q1 2022 buy was Constellation Energy: 1,411,783 shares worth $79.4M.
- Swiss National Bank added most to Apple in Q1 2022, an estimated $1.38B increase.
- Swiss National Bank's biggest Q1 2022 reduction was Exelon, cutting an estimated $41.2M.
- Swiss National Bank fully exited Xilinx Inc in Q1 2022, selling an estimated $199M.
- Swiss National Bank's ten largest holdings make up 28% of its $177B portfolio in Q1 2022.
- Swiss National Bank opened 3 new positions and closed 31 in Q1 2022.
- Swiss National Bank's portfolio value rose 6.8% quarter-over-quarter to $177B.
Based on Swiss National Bank's 13F filing for Q1 2022, filed 9 May 2022.