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 | |
|---|---|---|---|---|---|---|
2226
Kenon Holdings
KEN
$3.55B
| $1.02M | ﹤0.01% |
42,241
-5,509
| -12% | -$120K |
|
|
BFS
2227
Saul Centers
BFS
$850M
| $1.02M | ﹤0.01% |
25,983
-2,700
| -9% | -$98.9K |
|
|
CATC
2228
DELISTED
CAMBRIDGE BANCORP
CATC
| $1.02M | ﹤0.01% |
14,662
-1,700
| -10% | -$104K |
|
2229
First Financial Corp
THFF
$970M
| $1.02M | ﹤0.01% |
23,626
-2,900
| -11% | -$108K |
|
|
PLL
2230
DELISTED
Piedmont Lithium
PLL
| $1.02M | ﹤0.01% |
36,000
-4,100
| -10% | -$120K |
|
2231
Digimarc Corp
DMRC
$167M
| $1.01M | ﹤0.01% |
28,100
-3,200
| -10% | -$101K |
|
2232
Lufax Holding
LU
$1.33B
| $1.01M | ﹤0.01% |
330,400
+28,875
| +10% | +$108K |
|
2233
Southern Missouri Bancorp
SMBC
$853M
| $1.01M | ﹤0.01% |
18,953
-2,000
| -10% | -$89K |
|
2234
AMC Global Media
AMCX
$485M
| $1.01M | ﹤0.01% |
53,700
-6,200
| -10% | -$91.8K |
|
|
NAPA
2235
DELISTED
The Duckhorn Portfolio, Inc.
NAPA
| $1.01M | ﹤0.01% |
102,200
-11,800
| -10% | -$119K |
|
|
GLDD
2236
DELISTED
Great Lakes Dredge & Dock
GLDD
| $1.01M | ﹤0.01% |
131,000
-15,000
| -10% | -$109K |
|
2237
CEVA Inc
CEVA
$857M
| $1.01M | ﹤0.01% |
44,300
-4,200
| -9% | -$86.5K |
|
|
NFBK
2238
DELISTED
Northfield Bancorp
NFBK
| $1M | ﹤0.01% |
79,800
-11,300
| -12% | -$114K |
|
2239
GoodRx Holdings
GDRX
$1.22B
| $1,000K | ﹤0.01% |
149,200
-15,300
| -9% | -$86.2K |
|
|
NOA
2240
North American Construction
NOA
$414M
| $999K | ﹤0.01% |
47,800
-8,000
| -14% | -$165K |
|
2241
Definitive Healthcare
DH
$69.4M
| $998K | ﹤0.01% |
100,400
+3,500
| +4% | +$27.5K |
|
2242
Vitesse Energy
VTS
$685M
| $995K | ﹤0.01% |
45,444
-8,400
| -16% | -$194K |
|
|
HONE
2243
DELISTED
HarborOne Bancorp
HONE
| $989K | ﹤0.01% |
82,584
-9,600
| -10% | -$102K |
|
2244
Coastal Financial
CCB
$754M
| $989K | ﹤0.01% |
22,265
-2,600
| -10% | -$107K |
|
2245
Alector
ALEC
$240M
| $989K | ﹤0.01% |
123,900
-11,700
| -9% | -$69.3K |
|
2246
Applied Digital
APLD
$8.97B
| $988K | ﹤0.01% |
146,600
+9,500
| +7% | +$51.1K |
|
|
LUCK
2247
Lucky Strike Entertainment
LUCK
$937M
| $987K | ﹤0.01% |
69,700
-29,300
| -30% | -$322K |
|
|
MODV
2248
DELISTED
ModivCare
MODV
| $985K | ﹤0.01% |
22,400
-5,600
| -20% | -$221K |
|
2249
Microvision
MVIS
$111M
| $984K | ﹤0.01% |
24,673
-847
| -3% | -$29.1K |
|
|
CVGW
2250
DELISTED
Calavo Growers
CVGW
| $979K | ﹤0.01% |
33,300
-3,900
| -10% | -$100K |
|
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.