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 | |
|---|---|---|---|---|---|---|
2276
Vaalco Energy
EGY
$602M
| $942K | ﹤0.01% |
209,900
-27,200
| -11% | -$120K |
|
2277
Xperi
XPER
$321M
| $941K | ﹤0.01% |
85,398
-8,000
| -9% | -$77.1K |
|
|
TBI
2278
Trueblue
TBI
$302M
| $937K | ﹤0.01% |
61,100
-7,100
| -10% | -$99.2K |
|
2279
Theravance Biopharma
TBPH
$878M
| $937K | ﹤0.01% |
83,342
-25,700
| -24% | -$259K |
|
2280
Movado Group
MOV
$815M
| $932K | ﹤0.01% |
30,900
-3,000
| -9% | -$86K |
|
2281
Central Garden & Pet Co
CENT
$2.79B
| $930K | ﹤0.01% |
23,188
-2,875
| -11% | -$102K |
|
2282
Equity Bancshares
EQBK
$1.06B
| $928K | ﹤0.01% |
27,381
-3,600
| -12% | -$98.6K |
|
2283
Apogee Therapeutics
APGE
$10.2B
| $922K | ﹤0.01% |
+33,000
| New | +$662K |
|
2284
Kodiak Gas Services
KGS
$6.26B
| $920K | ﹤0.01% |
+45,800
| New | +$824K |
|
2285
Kura Sushi USA
KRUS
$637M
| $920K | ﹤0.01% |
12,100
| – | – |
|
2286
Green Dot
GDOT
$766M
| $919K | ﹤0.01% |
92,800
-9,300
| -9% | -$96.9K |
|
|
SLNO
2287
DELISTED
Soleno Therapeutics
SLNO
| $918K | ﹤0.01% |
+22,800
| New | +$649K |
|
|
SVM
2288
Silvercorp Metals
SVM
$2.68B
| $914K | ﹤0.01% |
350,400
-35,000
| -9% | -$85.7K |
|
2289
E.W. Scripps
SSP
$314M
| $913K | ﹤0.01% |
114,316
-11,600
| -9% | -$78K |
|
2290
Turning Point Brands
TPB
$1.73B
| $913K | ﹤0.01% |
34,700
-3,600
| -9% | -$82.4K |
|
2291
Disc Medicine
IRON
$3.09B
| $913K | ﹤0.01% |
15,800
-1,600
| -9% | -$81.9K |
|
2292
JetBlue
JBLU
$2.18B
| $911K | ﹤0.01% |
164,200
-14,300
| -8% | -$67K |
|
2293
America's Car Mart
CRMT
$26.2M
| $909K | ﹤0.01% |
12,000
-1,300
| -10% | -$98.2K |
|
2294
Evolv Technologies
EVLV
$1.03B
| $907K | ﹤0.01% |
192,200
+12,700
| +7% | +$54.3K |
|
2295
Olema Pharmaceuticals
OLMA
$913M
| $906K | ﹤0.01% |
+64,600
| New | +$868K |
|
|
TWKS
2296
DELISTED
Thoughtworks Holding, Inc. Common Stock
TWKS
| $904K | ﹤0.01% |
187,900
-19,100
| -9% | -$78.4K |
|
2297
MetroCity Bankshares
MCBS
$1.04B
| $897K | ﹤0.01% |
37,362
-3,600
| -9% | -$76.8K |
|
2298
SandRidge Energy
SD
$529M
| $897K | ﹤0.01% |
65,600
-3,300
| -5% | -$48.7K |
|
2299
Ezcorp Inc
EZPW
$1.78B
| $897K | ﹤0.01% |
102,600
-12,600
| -11% | -$106K |
|
2300
Resources Connection
RGP
$144M
| $894K | ﹤0.01% |
63,100
-7,200
| -10% | -$101K |
|
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.