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 | |
|---|---|---|---|---|---|---|
1501
Intellia Therapeutics
NTLA
$1.66B
| $3.68M | ﹤0.01% |
179,000
-1,300
| -0.7% | -$30K |
|
1502
Veeco
VECO
$3.26B
| $3.68M | ﹤0.01% |
111,021
| – | – |
|
1503
Braze
BRZE
$3.36B
| $3.67M | ﹤0.01% |
113,500
+4,800
| +4% | +$190K |
|
1504
LeMaitre Vascular
LMAT
$1.87B
| $3.67M | ﹤0.01% |
39,500
| – | – |
|
1505
NCR Voyix
VYX
$1.17B
| $3.66M | ﹤0.01% |
269,659
| – | – |
|
1506
Inter&Co
INTR
$2.3B
| $3.65M | ﹤0.01% |
+547,900
| New | +$3.79M |
|
1507
Mercury Systems
MRCY
$6.7B
| $3.64M | ﹤0.01% |
98,500
-700
| -0.7% | -$24.6K |
|
1508
World Kinect Corp
WKC
$1.89B
| $3.64M | ﹤0.01% |
117,700
| – | – |
|
1509
TTM Technologies
TTMI
$14.6B
| $3.63M | ﹤0.01% |
198,800
-1,500
| -0.7% | -$28.9K |
|
1510
Perimeter Solutions
PRM
$5.66B
| $3.62M | ﹤0.01% |
269,300
-3,000
| -1% | -$31.1K |
|
1511
American Airlines Group
AAL
$9.97B
| $3.62M | ﹤0.01% |
321,900
| – | – |
|
1512
Trustmark
TRMK
$2.79B
| $3.61M | ﹤0.01% |
113,600
-700
| -0.6% | -$22.5K |
|
1513
Alkami Technology
ALKT
$2.22B
| $3.61M | ﹤0.01% |
114,300
+19,200
| +20% | +$606K |
|
1514
Alamo Group
ALG
$2.01B
| $3.6M | ﹤0.01% |
20,000
-1,300
| -6% | -$232K |
|
1515
Iovance Biotherapeutics
IOVA
$2.95B
| $3.59M | ﹤0.01% |
382,356
-2,100
| -0.5% | -$19.9K |
|
1516
Diamondrock Hospitality Co
DRH
$2.5B
| $3.58M | ﹤0.01% |
410,000
-3,200
| -0.8% | -$26.9K |
|
1517
Donnelley Financial Solutions
DFIN
$1.17B
| $3.57M | ﹤0.01% |
54,300
+2,600
| +5% | +$169K |
|
|
OPLN
1518
Openlane
OPLN
$4.34B
| $3.57M | ﹤0.01% |
211,500
-1,700
| -0.8% | -$29.1K |
|
|
VSTO
1519
DELISTED
Vista Outdoor Inc.
VSTO
| $3.57M | ﹤0.01% |
91,100
-17,800
| -16% | -$690K |
|
1520
Leggett & Platt
LEG
$1.29B
| $3.57M | ﹤0.01% |
261,800
-1,500
| -0.6% | -$18.7K |
|
1521
IES Holdings
IESC
$15.3B
| $3.55M | ﹤0.01% |
17,800
-100
| -0.6% | -$16.2K |
|
1522
Atlanta Braves Holdings Series B
BATRK
$3.41B
| $3.54M | ﹤0.01% |
89,036
-500
| -0.6% | -$20.9K |
|
|
VSXY
1523
Victoria's Secret
VSXY
$7.39B
| $3.54M | ﹤0.01% |
137,700
+700
| +0.5% | +$14.8K |
|
1524
Flywire
FLYW
$2.12B
| $3.52M | ﹤0.01% |
215,000
+800
| +0.4% | +$14K |
|
1525
La-Z-Boy
LZB
$1.64B
| $3.52M | ﹤0.01% |
81,900
-1,900
| -2% | -$78.2K |
|
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.