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 | |
|---|---|---|---|---|---|---|
2151
Barrett Business Services
BBSI
$800M
| $1.32M | ﹤0.01% |
60,400
| – | – |
|
2152
Myers Industries
MYE
$1.25B
| $1.32M | ﹤0.01% |
67,700
+700
| +1% | +$13.8K |
|
2153
HealthStream
HSTM
$849M
| $1.31M | ﹤0.01% |
53,500
+700
| +1% | +$17.4K |
|
2154
Titan Machinery
TITN
$420M
| $1.31M | ﹤0.01% |
44,500
+700
| +2% | +$21.1K |
|
2155
Kinetik
KNTK
$4.16B
| $1.31M | ﹤0.01% |
37,300
-4,500
| -11% | -$143K |
|
2156
Repay Holdings
RPAY
$317M
| $1.31M | ﹤0.01% |
167,283
-8,900
| -5% | -$59.9K |
|
2157
Ivanhoe Electric
IE
$1.66B
| $1.31M | ﹤0.01% |
100,300
| – | – |
|
2158
America's Car Mart
CRMT
$25.7M
| $1.31M | ﹤0.01% |
13,100
| – | – |
|
2159
Insteel Industries
IIIN
$634M
| $1.31M | ﹤0.01% |
42,000
| – | – |
|
2160
Amplitude
AMPL
$1.66B
| $1.3M | ﹤0.01% |
118,600
| – | – |
|
2161
Smith & Wesson
SWBI
$643M
| $1.3M | ﹤0.01% |
99,850
+1,100
| +1% | +$13.4K |
|
2162
Kelly Services Class A
KELYA
$566M
| $1.3M | ﹤0.01% |
73,700
+2,700
| +4% | +$46.7K |
|
|
GES
2163
DELISTED
Guess Inc
GES
| $1.3M | ﹤0.01% |
66,700
-3,800
| -5% | -$73.1K |
|
2164
Genco Shipping & Trading
GNK
$1.13B
| $1.3M | ﹤0.01% |
92,400
+10,100
| +12% | +$145K |
|
|
SNBR
2165
DELISTED
Sleep Number
SNBR
| $1.3M | ﹤0.01% |
47,500
| – | – |
|
2166
Alignment Healthcare
ALHC
$2.79B
| $1.29M | ﹤0.01% |
224,300
+42,500
| +23% | +$275K |
|
2167
Pitney Bowes
PBI
$2.28B
| $1.28M | ﹤0.01% |
362,600
-13,000
| -3% | -$45K |
|
2168
RxSight
RXST
$292M
| $1.28M | ﹤0.01% |
+44,400
| New | +$988K |
|
|
ECHO
2169
EchoStar
ECHO
$26.6B
| $1.28M | ﹤0.01% |
73,700
+1,100
| +2% | +$18.5K |
|
2170
Consensus Cloud Solutions
CCSI
$717M
| $1.28M | ﹤0.01% |
41,177
+2,700
| +7% | +$95.1K |
|
|
FNA
2171
DELISTED
Paragon 28, Inc.
FNA
| $1.27M | ﹤0.01% |
71,700
+13,400
| +23% | +$241K |
|
2172
York Water
YORW
$536M
| $1.27M | ﹤0.01% |
30,800
| – | – |
|
2173
Tootsie Roll Industries
TR
$3.02B
| $1.27M | ﹤0.01% |
39,220
| – | – |
|
2174
Old Second Bancorp
OSBC
$1.31B
| $1.27M | ﹤0.01% |
97,200
+20,200
| +26% | +$257K |
|
|
STKL
2175
DELISTED
SunOpta
STKL
| $1.27M | ﹤0.01% |
189,425
+22,900
| +14% | +$172K |
|
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.