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 | |
|---|---|---|---|---|---|---|
2176
Allegiant Air
ALGT
$2.36B
| $1.25M | ﹤0.01% |
9,928
| – | – |
|
2177
DXP Enterprises
DXPE
$3B
| $1.25M | ﹤0.01% |
34,400
| – | – |
|
2178
United Fire Group
UFCS
$1.38B
| $1.25M | ﹤0.01% |
55,000
+8,800
| +19% | +$217K |
|
2179
Community Health Systems
CYH
$419M
| $1.24M | ﹤0.01% |
282,826
+21,200
| +8% | +$90.3K |
|
|
MODV
2180
DELISTED
ModivCare
MODV
| $1.24M | ﹤0.01% |
27,500
| – | – |
|
|
PNT
2181
DELISTED
POINT Biopharma Global Inc. Common Stock
PNT
| $1.24M | ﹤0.01% |
136,866
| – | – |
|
2182
CEVA Inc
CEVA
$855M
| $1.24M | ﹤0.01% |
48,500
-1,500
| -3% | -$37.8K |
|
|
TBI
2183
Trueblue
TBI
$309M
| $1.24M | ﹤0.01% |
69,800
-900
| -1% | -$15.3K |
|
2184
Dream Finders Homes
DFH
$1.35B
| $1.23M | ﹤0.01% |
50,200
+8,300
| +20% | +$149K |
|
2185
MiMedx Group
MDXG
$612M
| $1.23M | ﹤0.01% |
186,300
+26,900
| +17% | +$137K |
|
|
PFC
2186
DELISTED
Premier Financial Corp. Common Stock
PFC
| $1.23M | ﹤0.01% |
76,715
| – | – |
|
|
XRN
2187
Chiron Real Estate Inc
XRN
$484M
| $1.23M | ﹤0.01% |
26,880
| – | – |
|
2188
Heritage Financial
HFWA
$1.23B
| $1.23M | ﹤0.01% |
75,768
| – | – |
|
2189
Columbia Financial
CLBK
$1.22B
| $1.22M | ﹤0.01% |
70,588
-12,100
| -15% | -$210K |
|
|
PRSU
2190
Pursuit Attractions and Hospitality Inc
PRSU
$1.29B
| $1.22M | ﹤0.01% |
45,300
+700
| +2% | +$15.6K |
|
2191
Conduent
CNDT
$252M
| $1.21M | ﹤0.01% |
356,654
-16,200
| -4% | -$53K |
|
2192
NextDecade
NEXT
$1.8B
| $1.21M | ﹤0.01% |
147,500
+38,400
| +35% | +$236K |
|
2193
Kura Oncology
KURA
$896M
| $1.21M | ﹤0.01% |
114,200
-11,100
| -9% | -$131K |
|
|
ACRE
2194
Ares Commercial Real Estate
ACRE
$264M
| $1.21M | ﹤0.01% |
118,900
+7,300
| +7% | +$66.6K |
|
|
LGF.A
2195
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $1.2M | ﹤0.01% |
136,250
+10,200
| +8% | +$107K |
|
2196
Ducommun
DCO
$3.01B
| $1.2M | ﹤0.01% |
27,600
+2,800
| +11% | +$132K |
|
|
LAND
2197
Gladstone Land Corp
LAND
$358M
| $1.2M | ﹤0.01% |
73,900
+2,700
| +4% | +$43.7K |
|
|
EXK
2198
Endeavour Silver
EXK
$3.05B
| $1.2M | ﹤0.01% |
413,000
| – | – |
|
|
ABST
2199
DELISTED
Absolute Software Corp
ABST
| $1.2M | ﹤0.01% |
104,700
-9,100
| -8% | -$91.1K |
|
2200
REX American Resources
REX
$1.44B
| $1.19M | ﹤0.01% |
68,600
| – | – |
|
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.