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 | |
|---|---|---|---|---|---|---|
1626
CareDx
CDNA
$2.45B
| $3.02M | ﹤0.01% |
+96,800
| New | +$2.41M |
|
|
ELME
1627
Elme Communities
ELME
$144M
| $3.02M | ﹤0.01% |
171,800
-1,300
| -0.8% | -$22.1K |
|
1628
Empire State Realty Trust
ESRT
$817M
| $3M | ﹤0.01% |
271,100
| – | – |
|
1629
Apogee Enterprises
APOG
$897M
| $3M | ﹤0.01% |
42,900
-600
| -1% | -$38.6K |
|
1630
Greif
GEF
$5B
| $3M | ﹤0.01% |
47,900
-300
| -0.6% | -$18.4K |
|
|
SAND
1631
DELISTED
Sandstorm Gold
SAND
| $3M | ﹤0.01% |
498,762
| – | – |
|
1632
Edgewell Personal Care
EPC
$1.32B
| $2.99M | ﹤0.01% |
82,200
-11,100
| -12% | -$428K |
|
1633
Talos Energy
TALO
$2.59B
| $2.97M | ﹤0.01% |
287,200
-2,200
| -0.8% | -$25.1K |
|
1634
Hope Bancorp
HOPE
$1.83B
| $2.97M | ﹤0.01% |
236,557
| – | – |
|
1635
Expro Ltd
XPRO
$2.07B
| $2.95M | ﹤0.01% |
172,000
-12,400
| -7% | -$252K |
|
1636
Sonos
SONO
$1.86B
| $2.95M | ﹤0.01% |
240,000
-3,600
| -1% | -$45.7K |
|
|
XHR
1637
Xenia Hotels & Resorts
XHR
$1.73B
| $2.94M | ﹤0.01% |
199,080
-1,400
| -0.7% | -$19.4K |
|
|
RDFN
1638
DELISTED
Redfin
RDFN
| $2.94M | ﹤0.01% |
234,500
| – | – |
|
1639
Chefs' Warehouse
CHEF
$4.53B
| $2.94M | ﹤0.01% |
69,900
-500
| -0.7% | -$20.2K |
|
1640
Virtus Investment Partners
VRTS
$1.12B
| $2.93M | ﹤0.01% |
14,000
| – | – |
|
1641
Compass Diversified
CODI
$908M
| $2.93M | ﹤0.01% |
132,500
-1,400
| -1% | -$30.5K |
|
1642
Napco Security Technologies
NSSC
$1.39B
| $2.93M | ﹤0.01% |
72,400
| – | – |
|
1643
Upbound Group
UPBD
$1.11B
| $2.91M | ﹤0.01% |
91,100
| – | – |
|
1644
BlackBerry
BB
$5.27B
| $2.91M | ﹤0.01% |
1,102,650
-6,300
| -0.6% | -$15K |
|
1645
Gentherm
THRM
$1.27B
| $2.89M | ﹤0.01% |
62,100
| – | – |
|
1646
Blue Bird Corp
BLBD
$2.04B
| $2.89M | ﹤0.01% |
60,200
| – | – |
|
1647
First Busey Corp
BUSE
$2.58B
| $2.88M | ﹤0.01% |
110,799
-700
| -0.6% | -$18.3K |
|
1648
Janus International
JBI
$664M
| $2.88M | ﹤0.01% |
285,000
+12,200
| +4% | +$142K |
|
1649
Syndax Pharmaceuticals
SNDX
$1.77B
| $2.88M | ﹤0.01% |
149,400
-1,200
| -0.8% | -$24.8K |
|
1650
SiriusPoint
SPNT
$2.66B
| $2.87M | ﹤0.01% |
200,400
| – | – |
|
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.