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 | |
|---|---|---|---|---|---|---|
2376
Zymeworks
ZYME
$1.77B
| $765K | ﹤0.01% |
73,600
-4,000
| -5% | -$31.9K |
|
|
NGMS
2377
DELISTED
NeoGames S.A. Ordinary Shares
NGMS
| $762K | ﹤0.01% |
26,630
-3,000
| -10% | -$81.1K |
|
|
EGLE
2378
DELISTED
Eagle Bulk Shipping Inc.
EGLE
| $759K | ﹤0.01% |
13,700
-600
| -4% | -$27.1K |
|
2379
Allegiant Air
ALGT
$2.31B
| $754K | ﹤0.01% |
9,128
-1,000
| -10% | -$72.2K |
|
2380
Boston Omaha
BOC
$436M
| $751K | ﹤0.01% |
47,763
-5,500
| -10% | -$83.5K |
|
2381
Custom Truck One Source
CTOS
$2.46B
| $750K | ﹤0.01% |
121,300
-12,600
| -9% | -$74.3K |
|
2382
Vera Therapeutics
VERA
$2.16B
| $749K | ﹤0.01% |
48,700
| – | – |
|
2383
Designer Brands
DBI
$311M
| $748K | ﹤0.01% |
84,500
-30,400
| -26% | -$320K |
|
|
TRTX
2384
TPG RE Finance Trust
TRTX
$610M
| $747K | ﹤0.01% |
114,900
-12,700
| -10% | -$76.6K |
|
2385
Mercer International
MERC
$32.3M
| $746K | ﹤0.01% |
78,672
-7,800
| -9% | -$70K |
|
|
OLP
2386
One Liberty Properties
OLP
$523M
| $740K | ﹤0.01% |
33,752
-3,800
| -10% | -$75.8K |
|
|
CTEV
2387
Claritev Corp
CTEV
$599M
| $737K | ﹤0.01% |
12,800
-1,748
| -12% | -$106K |
|
2388
DMC Global
BOOM
$155M
| $734K | ﹤0.01% |
39,000
-4,000
| -9% | -$73.5K |
|
2389
Vivid Seats
SEAT
$81.6M
| $732K | ﹤0.01% |
5,795
+1,570
| +37% | +$215K |
|
2390
Preformed Line Products
PLPC
$2.29B
| $730K | ﹤0.01% |
5,453
| – | – |
|
2391
Star Group
SGU
$417M
| $729K | ﹤0.01% |
63,203
-2,900
| -4% | -$35.2K |
|
2392
Tejon Ranch
TRC
$441M
| $725K | ﹤0.01% |
42,180
-4,800
| -10% | -$77.9K |
|
2393
South Plains Financial
SPFI
$858M
| $725K | ﹤0.01% |
25,033
-2,800
| -10% | -$76.2K |
|
2394
Covenant Logistics
CVLG
$865M
| $723K | ﹤0.01% |
31,400
-3,800
| -11% | -$81.4K |
|
|
LGTY
2395
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $721K | ﹤0.01% |
63,800
-7,300
| -10% | -$78.4K |
|
2396
HighPeak Energy
HPK
$912M
| $721K | ﹤0.01% |
+50,600
| New | +$802K |
|
2397
Genesco
GCO
$391M
| $718K | ﹤0.01% |
20,400
-5,900
| -22% | -$181K |
|
2398
Summit Therapeutics
SMMT
$12B
| $718K | ﹤0.01% |
275,000
-28,800
| -9% | -$59.2K |
|
2399
Mid Penn Bancorp
MPB
$969M
| $714K | ﹤0.01% |
29,417
-2,100
| -7% | -$44.7K |
|
|
IAUX
2400
i-80 Gold Corp
IAUX
$1.52B
| $713K | ﹤0.01% |
404,800
-25,300
| -6% | -$38.9K |
|
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.