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 |
First Solar
FSLR
|
+$24M |
| 2 |
Ovintiv
OVV
|
+$22M |
| 3 |
Hubbell
HUBB
|
+$21.8M |
| 4 |
U-Haul Holding Co Series N
UHAL.B
|
+$20.7M |
| 5 |
Lamb Weston
LW
|
+$20.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$690M |
| 2 |
Microsoft
MSFT
|
+$479M |
| 3 |
Amazon
AMZN
|
+$239M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$182M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$161M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.31% |
| 2 | Healthcare | 16.63% |
| 3 | Consumer Discretionary | 10.98% |
| 4 | Industrials | 9.76% |
| 5 | Consumer Staples | 7.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TRTX
2401
TPG RE Finance Trust
TRTX
$610M
| $889K | ﹤0.01% |
130,900
+3,600
| +3% | +$26.5K |
|
2402
Algoma Steel
ASTL
$470M
| $888K | ﹤0.01% |
140,707
-72,700
| -34% | -$477K |
|
2403
Bridgewater Bancshares
BWB
$614M
| $886K | ﹤0.01% |
+49,938
| New | +$915K |
|
2404
Gran Tierra Energy
GTE
$331M
| $882K | ﹤0.01% |
89,070
+2,460
| +3% | +$29K |
|
2405
Karyopharm Therapeutics
KPTI
$46M
| $881K | ﹤0.01% |
17,277
+5,980
| +53% | +$415K |
|
2406
National Presto Industries
NPK
$998M
| $876K | ﹤0.01% |
12,800
+300
| +2% | +$20.5K |
|
2407
Carriage Services
CSV
$535M
| $875K | ﹤0.01% |
31,771
| – | – |
|
|
AAN
2408
DELISTED
The Aaron's Company Inc
AAN
| $872K | ﹤0.01% |
73,000
| – | – |
|
|
KZR
2409
DELISTED
Kezar Life Sciences
KZR
| $872K | ﹤0.01% |
12,390
+1,650
| +15% | +$122K |
|
2410
Seneca Foods Class A
SENEA
$1.28B
| $872K | ﹤0.01% |
+14,300
| New | +$879K |
|
2411
Atea Pharmaceuticals
AVIR
$405M
| $871K | ﹤0.01% |
181,000
+4,800
| +3% | +$24.3K |
|
|
EQRX
2412
DELISTED
EQRx, Inc. Common Stock
EQRX
| $869K | ﹤0.01% |
353,200
+8,700
| +3% | +$34.3K |
|
2413
Southern Missouri Bancorp
SMBC
$853M
| $869K | ﹤0.01% |
+18,953
| New | +$954K |
|
2414
Zumiez
ZUMZ
$318M
| $867K | ﹤0.01% |
39,900
+700
| +2% | +$15.5K |
|
2415
Xperi
XPER
$321M
| $867K | ﹤0.01% |
+100,698
| New | +$1.15M |
|
2416
Centrus Energy
LEU
$3.69B
| $864K | ﹤0.01% |
26,600
+500
| +2% | +$19.1K |
|
2417
Babcock & Wilcox
BW
$1.46B
| $859K | ﹤0.01% |
148,900
+5,600
| +4% | +$30.6K |
|
2418
PetMed Express
PETS
$43M
| $853K | ﹤0.01% |
48,200
+1,200
| +3% | +$23.8K |
|
2419
RE/MAX Holdings
RMAX
$263M
| $852K | ﹤0.01% |
45,700
| – | – |
|
|
ESPR
2420
DELISTED
Esperion Therapeutics
ESPR
| $851K | ﹤0.01% |
+136,600
| New | +$977K |
|
2421
Tango Therapeutics
TNGX
$4.31B
| $848K | ﹤0.01% |
116,900
+44,600
| +62% | +$314K |
|
2422
OneSpan
OSPN
$609M
| $846K | ﹤0.01% |
75,600
| – | – |
|
2423
Amalgamated Financial
AMAL
$1.52B
| $846K | ﹤0.01% |
36,700
| – | – |
|
|
EGRX
2424
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
| $845K | ﹤0.01% |
28,900
+900
| +3% | +$28.6K |
|
|
CIO
2425
DELISTED
City Office REIT
CIO
| $841K | ﹤0.01% |
100,300
-2,600
| -3% | -$25K |
|
Similar funds
Swiss National Bank's Q4 2022 Portfolio in Review
As of Q4 2022, Swiss National Bank held 2,795 positions worth $139B, down 0.37% from $140B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Swiss National Bank withdrew a net $9.35B in Q4 2022, closing 116 positions and reducing 810 holdings. Its most notable exit was Twitter, Inc., an estimated $123M position sold in full.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in U-Haul Holding Co Series N worth $19.6M.
- Swiss National Bank's largest Q4 2022 buy was U-Haul Holding Co Series N: 356,731 shares worth $19.6M.
- Swiss National Bank added most to First Solar in Q4 2022, an estimated $24M increase.
- Swiss National Bank's biggest Q4 2022 reduction was Apple, cutting an estimated $690M.
- Swiss National Bank fully exited Twitter, Inc. in Q4 2022, selling an estimated $123M.
- Swiss National Bank's ten largest holdings make up 23% of its $139B portfolio in Q4 2022.
- Swiss National Bank opened 81 new positions and closed 116 in Q4 2022.
- Swiss National Bank's portfolio value fell 0.37% quarter-over-quarter to $139B.
Based on Swiss National Bank's 13F filing for Q4 2022, filed 8 Feb 2023.