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 |
Flutter Entertainment
FLUT
|
+$128M |
| 2 |
Corebridge Financial
CRBG
|
+$18.4M |
| 3 |
Samsara
IOT
|
+$17.5M |
| 4 |
Realty Income
O
|
+$14.9M |
| 5 |
Williams-Sonoma
WSM
|
+$14.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$891M |
| 2 |
Microsoft
MSFT
|
+$375M |
| 3 |
NVIDIA
NVDA
|
+$237M |
| 4 |
Amazon
AMZN
|
+$198M |
| 5 |
Meta Platforms (Facebook)
META
|
+$135M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.23% |
| 2 | Healthcare | 12.76% |
| 3 | Consumer Discretionary | 11.79% |
| 4 | Industrials | 9.51% |
| 5 | Communication Services | 8.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2026
Amplitude
AMPL
$1.64B
| $1.44M | ﹤0.01% |
132,100
+9,200
| +7% | +$113K |
|
2027
Cytek Biosciences
CTKB
$640M
| $1.44M | ﹤0.01% |
214,000
-14,500
| -6% | -$115K |
|
|
FBMS
2028
DELISTED
The First Bancshares, Inc.
FBMS
| $1.43M | ﹤0.01% |
55,230
| – | – |
|
|
MCW
2029
DELISTED
Mister Car Wash
MCW
| $1.43M | ﹤0.01% |
184,800
| – | – |
|
2030
Myers Industries
MYE
$1.23B
| $1.43M | ﹤0.01% |
61,700
| – | – |
|
|
PFC
2031
DELISTED
Premier Financial Corp. Common Stock
PFC
| $1.43M | ﹤0.01% |
70,415
| – | – |
|
|
EFXT
2032
Enerflex
EFXT
$2.7B
| $1.43M | ﹤0.01% |
245,500
| – | – |
|
|
KEEL
2033
Keel Infrastructure Corp
KEEL
$2.1B
| $1.43M | ﹤0.01% |
+642,000
| New | +$1.67M |
|
2034
Ceco Environmental
CECO
$4.56B
| $1.42M | ﹤0.01% |
61,800
+3,500
| +6% | +$72.1K |
|
2035
Center Bancorp
CNOB
$1.8B
| $1.42M | ﹤0.01% |
72,900
| – | – |
|
2036
ImmunityBio
IBRX
$7.97B
| $1.41M | ﹤0.01% |
263,100
| – | – |
|
2037
Hovnanian Enterprises
HOV
$788M
| $1.41M | ﹤0.01% |
9,000
-500
| -5% | -$77.2K |
|
2038
ChargePoint
CHPT
$161M
| $1.41M | ﹤0.01% |
37,145
+6,985
| +23% | +$274K |
|
|
ZEUS
2039
DELISTED
Olympic Steel
ZEUS
| $1.4M | ﹤0.01% |
19,800
| – | – |
|
2040
Radware
RDWR
$1.22B
| $1.4M | ﹤0.01% |
74,900
| – | – |
|
|
IAS
2041
DELISTED
Integral Ad Science
IAS
| $1.4M | ﹤0.01% |
140,600
+32,600
| +30% | +$435K |
|
2042
Skywest
SKYW
$4.2B
| $1.4M | ﹤0.01% |
20,200
-500
| -2% | -$29.6K |
|
|
CWEN.A
2043
DELISTED
Clearway Energy Class A
CWEN.A
| $1.39M | ﹤0.01% |
64,850
| – | – |
|
|
OSG
2044
Octave Specialty Group
OSG
$215M
| $1.39M | ﹤0.01% |
89,200
| – | – |
|
2045
Kura Sushi USA
KRUS
$649M
| $1.39M | ﹤0.01% |
12,100
| – | – |
|
|
AHRT
2046
AH Realty Trust
AHRT
$509M
| $1.39M | ﹤0.01% |
133,900
| – | – |
|
2047
Accel Entertainment
ACEL
$1.01B
| $1.39M | ﹤0.01% |
118,100
| – | – |
|
|
DX
2048
Dynex Capital
DX
$3.26B
| $1.39M | ﹤0.01% |
111,833
+5,000
| +5% | +$62K |
|
2049
Scholar Rock
SRRK
$6.39B
| $1.39M | ﹤0.01% |
78,300
-19,800
| -20% | -$312K |
|
2050
TFS Financial
TFSL
$4.97B
| $1.39M | ﹤0.01% |
110,500
| – | – |
|
Similar funds
Swiss National Bank's Q1 2024 Portfolio in Review
As of Q1 2024, Swiss National Bank held 2,559 positions worth $143B, up 4.7% from $136B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Swiss National Bank withdrew a net $6.38B in Q1 2024, closing 54 positions and reducing 945 holdings. Its most notable exit was Splunk Inc, an estimated $76.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 31% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Flutter Entertainment worth $119M.
- Swiss National Bank's largest Q1 2024 buy was Flutter Entertainment: 598,808 shares worth $119M.
- Swiss National Bank added most to Realty Income in Q1 2024, an estimated $14.9M increase.
- Swiss National Bank's biggest Q1 2024 reduction was Apple, cutting an estimated $891M.
- Swiss National Bank fully exited Splunk Inc in Q1 2024, selling an estimated $76.3M.
- Swiss National Bank's ten largest holdings make up 29% of its $143B portfolio in Q1 2024.
- Swiss National Bank opened 25 new positions and closed 54 in Q1 2024.
- Swiss National Bank's portfolio value rose 4.7% quarter-over-quarter to $143B.
Based on Swiss National Bank's 13F filing for Q1 2024, filed 7 May 2024.