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 |
Berkshire Hathaway Class B
BRK.B
|
+$1.53B |
| 2 |
American Express
AXP
|
+$368M |
| 3 |
Capital One
COF
|
+$138M |
| 4 |
DFS
Discover Financial Services
DFS
|
+$98.1M |
| 5 |
Apollo Global Management
APO
|
+$96.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.04B |
| 2 |
Microsoft
MSFT
|
+$804M |
| 3 |
Amazon
AMZN
|
+$353M |
| 4 |
NVIDIA
NVDA
|
+$280M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$271M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.2% |
| 2 | Healthcare | 13.75% |
| 3 | Consumer Discretionary | 12.04% |
| 4 | Industrials | 9.24% |
| 5 | Communication Services | 8.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1626
Acadia Realty Trust
AKR
$2.84B
| $2.98M | ﹤0.01% |
207,200
+2,300
| +1% | +$31K |
|
|
XHR
1627
Xenia Hotels & Resorts
XHR
$1.73B
| $2.98M | ﹤0.01% |
242,080
-3,700
| -2% | -$46.1K |
|
1628
NBT Bancorp
NBTB
$2.78B
| $2.97M | ﹤0.01% |
93,400
+900
| +1% | +$30.1K |
|
|
LTC
1629
LTC Properties
LTC
$2.1B
| $2.97M | ﹤0.01% |
90,062
+2,600
| +3% | +$86.8K |
|
1630
PDF Solutions
PDFS
$2.19B
| $2.97M | ﹤0.01% |
65,800
+1,300
| +2% | +$53K |
|
|
RDFN
1631
DELISTED
Redfin
RDFN
| $2.97M | ﹤0.01% |
238,900
+27,600
| +13% | +$269K |
|
1632
Under Armour
UAA
$2.3B
| $2.97M | ﹤0.01% |
410,900
+3,600
| +0.9% | +$29K |
|
1633
Celldex Therapeutics
CLDX
$3.52B
| $2.97M | ﹤0.01% |
87,400
+6,000
| +7% | +$202K |
|
1634
Astrana Health
ASTH
$1.78B
| $2.96M | ﹤0.01% |
93,744
+8,100
| +9% | +$278K |
|
1635
Levi Strauss
LEVI
$8.64B
| $2.95M | ﹤0.01% |
204,400
+5,900
| +3% | +$85.2K |
|
1636
Procept Biorobotics
PRCT
$1.26B
| $2.94M | ﹤0.01% |
83,100
+58,900
| +243% | +$1.95M |
|
|
CPRX
1637
DELISTED
Catalyst Pharmaceutical
CPRX
| $2.94M | ﹤0.01% |
218,500
+5,100
| +2% | +$73.4K |
|
1638
Xencor
XNCR
$1.72B
| $2.94M | ﹤0.01% |
117,600
-5,300
| -4% | -$144K |
|
|
ALEX
1639
DELISTED
Alexander & Baldwin
ALEX
| $2.94M | ﹤0.01% |
158,020
+1,400
| +0.9% | +$26.2K |
|
1640
Triumph Financial Inc
TFIN
$1.83B
| $2.93M | ﹤0.01% |
48,300
-1,800
| -4% | -$98.9K |
|
1641
Northwest Bancshares
NWBI
$2.31B
| $2.93M | ﹤0.01% |
276,600
+16,200
| +6% | +$180K |
|
|
TWO
1642
Two Harbors Investment
TWO
$1.27B
| $2.92M | ﹤0.01% |
210,488
+2,500
| +1% | +$33K |
|
1643
LeMaitre Vascular
LMAT
$1.87B
| $2.92M | ﹤0.01% |
43,400
+700
| +2% | +$42.7K |
|
|
CIM
1644
Chimera Investment
CIM
$991M
| $2.91M | ﹤0.01% |
168,227
+1,500
| +0.9% | +$23.9K |
|
|
JOYY
1645
JOYY Inc
JOYY
$3.74B
| $2.91M | ﹤0.01% |
94,716
-60,792
| -39% | -$1.78M |
|
|
DEA
1646
Easterly Government Properties
DEA
$1.16B
| $2.9M | ﹤0.01% |
80,124
+5,640
| +8% | +$198K |
|
1647
Federal Agricultural Mortgage
AGM
$2.58B
| $2.9M | ﹤0.01% |
20,181
+200
| +1% | +$27.4K |
|
|
DICE
1648
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
| $2.9M | ﹤0.01% |
62,400
-4,500
| -7% | -$156K |
|
1649
Liberty Latin America Class C
LILAK
$1.67B
| $2.9M | ﹤0.01% |
369,839
+23,980
| +7% | +$179K |
|
1650
Iovance Biotherapeutics
IOVA
$3.05B
| $2.9M | ﹤0.01% |
411,656
+156,100
| +61% | +$1.12M |
|
Similar funds
Swiss National Bank's Q2 2023 Portfolio in Review
As of Q2 2023, Swiss National Bank held 2,706 positions worth $147B, up 0.92% from $146B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank withdrew a net $9.97B in Q2 2023, closing 106 positions and reducing 972 holdings. Its most notable exit was Shaw Communications Inc., an estimated $57.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 30% 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 Berkshire Hathaway Class B worth $1.6B.
- Swiss National Bank's largest Q2 2023 buy was Berkshire Hathaway Class B: 4,684,505 shares worth $1.6B.
- Swiss National Bank added most to Uber in Q2 2023, an estimated $22.7M increase.
- Swiss National Bank's biggest Q2 2023 reduction was Apple, cutting an estimated $1.04B.
- Swiss National Bank fully exited Shaw Communications Inc. in Q2 2023, selling an estimated $57.3M.
- Swiss National Bank's ten largest holdings make up 28% of its $147B portfolio in Q2 2023.
- Swiss National Bank opened 63 new positions and closed 106 in Q2 2023.
- Swiss National Bank's portfolio value rose 0.92% quarter-over-quarter to $147B.
Based on Swiss National Bank's 13F filing for Q2 2023, filed 9 Aug 2023.