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 |
Nu Holdings
NU
|
+$90.5M |
| 2 |
SW
Smurfit Westrock
SW
|
+$70M |
| 3 |
Pinduoduo
PDD
|
+$28.2M |
| 4 |
Microsoft
MSFT
|
+$24.7M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$21.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$118M |
| 2 |
Apple
AAPL
|
+$43.5M |
| 3 |
WRK
WestRock Company
WRK
|
+$38.2M |
| 4 |
Danaher
DHR
|
+$27.6M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.62% |
| 2 | Healthcare | 12.18% |
| 3 | Consumer Discretionary | 11.62% |
| 4 | Industrials | 9.21% |
| 5 | Communication Services | 9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1476
Sunstone Hotel Investors
SHO
$2.01B
| $3.9M | ﹤0.01% |
377,649
-2,900
| -0.8% | -$29.6K |
|
1477
Acushnet Holdings
GOLF
$5.2B
| $3.89M | ﹤0.01% |
61,000
-1,500
| -2% | -$99K |
|
1478
Klaviyo
KVYO
$5.47B
| $3.89M | ﹤0.01% |
109,900
-4,100
| -4% | -$119K |
|
1479
PagSeguro Digital
PAGS
$2.4B
| $3.88M | ﹤0.01% |
+450,900
| New | +$5.21M |
|
|
THS
1480
DELISTED
Treehouse Foods
THS
| $3.88M | ﹤0.01% |
92,451
-2,900
| -3% | -$115K |
|
1481
Protagonist Therapeutics
PTGX
$9.8B
| $3.87M | ﹤0.01% |
85,900
| – | – |
|
|
GRP.U
1482
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $3.84M | ﹤0.01% |
63,500
| – | – |
|
1483
Cheesecake Factory
CAKE
$5.84B
| $3.83M | ﹤0.01% |
94,500
-700
| -0.7% | -$26.6K |
|
1484
Reynolds Consumer Products
REYN
$5.53B
| $3.83M | ﹤0.01% |
123,100
-1,000
| -0.8% | -$29.6K |
|
1485
Huron Consulting
HURN
$2.47B
| $3.83M | ﹤0.01% |
35,200
-1,200
| -3% | -$127K |
|
1486
Vericel Corp
VCEL
$2.29B
| $3.82M | ﹤0.01% |
90,400
| – | – |
|
1487
NCR Atleos
NATL
$3.47B
| $3.82M | ﹤0.01% |
133,780
-5,600
| -4% | -$163K |
|
|
HI
1488
DELISTED
Hillenbrand
HI
| $3.81M | ﹤0.01% |
137,159
-1,200
| -0.9% | -$42.2K |
|
1489
Extreme Networks
EXTR
$3.2B
| $3.81M | ﹤0.01% |
253,200
| – | – |
|
|
B
1490
DELISTED
Barnes Group Inc.
B
| $3.8M | ﹤0.01% |
94,100
+4,400
| +5% | +$173K |
|
1491
Marqeta
MQ
$1.63B
| $3.79M | ﹤0.01% |
192,450
-11,825
| -6% | -$247K |
|
1492
Kennametal
KMT
$2.35B
| $3.79M | ﹤0.01% |
146,000
-2,100
| -1% | -$52.2K |
|
1493
Dyne Therapeutics
DYN
$4.85B
| $3.78M | ﹤0.01% |
105,100
-800
| -0.8% | -$31.8K |
|
1494
Remitly
RELY
$5.39B
| $3.77M | ﹤0.01% |
281,800
+3,700
| +1% | +$50.2K |
|
1495
Enterprise Financial Services Corp
EFSC
$2.41B
| $3.75M | ﹤0.01% |
73,164
-600
| -0.8% | -$29.5K |
|
1496
Kosmos Energy
KOS
$1.51B
| $3.71M | ﹤0.01% |
920,500
-6,900
| -0.7% | -$33.6K |
|
1497
Amphastar Pharmaceuticals
AMPH
$858M
| $3.71M | ﹤0.01% |
76,400
-600
| -0.8% | -$26.3K |
|
1498
Rogers Corp
ROG
$2.48B
| $3.71M | ﹤0.01% |
32,800
-300
| -0.9% | -$33.5K |
|
1499
United Parks & Resorts
PRKS
$2.01B
| $3.7M | ﹤0.01% |
73,200
-2,500
| -3% | -$129K |
|
1500
NeoGenomics
NEO
$2.11B
| $3.68M | ﹤0.01% |
249,500
-1,900
| -0.8% | -$29.7K |
|
Similar funds
Swiss National Bank's Q3 2024 Portfolio in Review
As of Q3 2024, Swiss National Bank held 2,510 positions worth $154B, up 5.8% from $146B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Trading was light in Q3 2024: portfolio turnover was 3.9%. Swiss National Bank opened 52 new positions and exited 45, leaving the 2,510-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2024 buy was Nu Holdings: 6,729,657 shares worth $91.9M.
- Swiss National Bank added most to Pinduoduo in Q3 2024, an estimated $28.2M increase.
- Swiss National Bank's biggest Q3 2024 reduction was NVIDIA, cutting an estimated $118M.
- Swiss National Bank fully exited WestRock Company in Q3 2024, selling an estimated $38.2M.
- Swiss National Bank's ten largest holdings make up 32% of its $154B portfolio in Q3 2024.
- Swiss National Bank opened 52 new positions and closed 45 in Q3 2024.
- Swiss National Bank's portfolio value rose 5.8% quarter-over-quarter to $154B.
Based on Swiss National Bank's 13F filing for Q3 2024, filed 7 Nov 2024.