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 | |
|---|---|---|---|---|---|---|
1876
LegalZoom.com
LZ
$993M
| $2.01M | ﹤0.01% |
+166,200
| New | +$1.76M |
|
|
BBT
1877
Beacon Financial Corp
BBT
$2.71B
| $2M | ﹤0.01% |
96,700
+4,300
| +5% | +$92.9K |
|
1878
Digital Turbine
APPS
$1.53B
| $2M | ﹤0.01% |
216,000
+12,900
| +6% | +$142K |
|
1879
Benchmark Electronics
BHE
$2.89B
| $2M | ﹤0.01% |
77,500
+1,600
| +2% | +$37K |
|
1880
FLEX LNG
FLNG
$1.64B
| $2M | ﹤0.01% |
65,449
+1,606
| +3% | +$51.4K |
|
1881
N-able
NABL
$695M
| $2M | ﹤0.01% |
138,650
+41,200
| +42% | +$571K |
|
|
ORLA
1882
DELISTED
Orla Mining
ORLA
| $2M | ﹤0.01% |
475,200
+42,900
| +10% | +$191K |
|
1883
Protolabs
PRLB
$2.21B
| $2M | ﹤0.01% |
57,100
-1,500
| -3% | -$47.8K |
|
|
CSR
1884
Centerspace
CSR
$939M
| $1.99M | ﹤0.01% |
32,500
| – | – |
|
1885
Peoples Bancorp
PEBO
$1.49B
| $1.99M | ﹤0.01% |
75,000
+14,000
| +23% | +$365K |
|
1886
Coeur Mining
CDE
$19B
| $1.99M | ﹤0.01% |
699,700
+93,300
| +15% | +$317K |
|
|
ADAM
1887
Adamas Trust
ADAM
$907M
| $1.99M | ﹤0.01% |
200,230
| – | – |
|
1888
First Advantage
FA
$3.81B
| $1.98M | ﹤0.01% |
128,700
+13,900
| +12% | +$187K |
|
|
UMH
1889
UMH Properties
UMH
$1.42B
| $1.98M | ﹤0.01% |
124,100
+9,800
| +9% | +$152K |
|
1890
Customers Bancorp
CUBI
$2.82B
| $1.98M | ﹤0.01% |
65,400
-1,300
| -2% | -$29.1K |
|
|
NVRO
1891
DELISTED
NEVRO CORP.
NVRO
| $1.98M | ﹤0.01% |
77,800
+5,200
| +7% | +$150K |
|
1892
BioLife Solutions
BLFS
$1.72B
| $1.98M | ﹤0.01% |
89,400
+20,100
| +29% | +$423K |
|
|
SAFE
1893
Safehold
SAFE
$1.1B
| $1.97M | ﹤0.01% |
83,114
| – | – |
|
|
RPT
1894
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $1.97M | ﹤0.01% |
188,600
+4,600
| +3% | +$43.6K |
|
|
GDEN
1895
DELISTED
Golden Entertainment
GDEN
| $1.97M | ﹤0.01% |
47,100
+7,100
| +18% | +$297K |
|
1896
CVR Energy
CVI
$3.58B
| $1.97M | ﹤0.01% |
65,700
+600
| +0.9% | +$16.1K |
|
1897
Leonardo DRS
DRS
$11.9B
| $1.97M | ﹤0.01% |
113,400
+1,100
| +1% | +$17K |
|
|
SWTX
1898
DELISTED
SpringWorks Therapeutics
SWTX
| $1.96M | ﹤0.01% |
74,900
+900
| +1% | +$23.6K |
|
1899
Newmark Group
NMRK
$2.77B
| $1.96M | ﹤0.01% |
315,307
-9,600
| -3% | -$59.1K |
|
1900
PAR Technology
PAR
$770M
| $1.96M | ﹤0.01% |
59,500
+600
| +1% | +$20K |
|
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.