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 | |
|---|---|---|---|---|---|---|
2251
Acco Brands
ACCO
$399M
| $1.08M | ﹤0.01% |
206,700
+3,300
| +2% | +$16.6K |
|
2252
Astronics
ATRO
$4.57B
| $1.08M | ﹤0.01% |
+65,040
| New | +$891K |
|
|
EGLE
2253
DELISTED
Eagle Bulk Shipping Inc.
EGLE
| $1.08M | ﹤0.01% |
22,400
+1,700
| +8% | +$75K |
|
2254
Great Southern Bancorp
GSBC
$888M
| $1.07M | ﹤0.01% |
21,100
| – | – |
|
|
ZEUS
2255
DELISTED
Olympic Steel
ZEUS
| $1.07M | ﹤0.01% |
+21,800
| New | +$1.02M |
|
|
CVGW
2256
DELISTED
Calavo Growers
CVGW
| $1.07M | ﹤0.01% |
36,700
-1,600
| -4% | -$49.6K |
|
2257
Evolv Technologies
EVLV
$1.04B
| $1.06M | ﹤0.01% |
177,300
+36,900
| +26% | +$174K |
|
|
BBUC
2258
Brookfield Business Corp Class A Subordinate Voting Shares
BBUC
$6.01B
| $1.06M | ﹤0.01% |
+56,287
| New | +$1.13M |
|
2259
LSB Industries
LXU
$711M
| $1.06M | ﹤0.01% |
107,700
-7,400
| -6% | -$70.8K |
|
|
NOA
2260
North American Construction
NOA
$389M
| $1.06M | ﹤0.01% |
+55,300
| New | +$1.04M |
|
|
BFS
2261
Saul Centers
BFS
$865M
| $1.06M | ﹤0.01% |
28,683
-2,200
| -7% | -$79.1K |
|
|
OLPX
2262
DELISTED
Olaplex Holdings
OLPX
| $1.06M | ﹤0.01% |
+283,800
| New | +$1.04M |
|
2263
uniQure
QURE
$3.26B
| $1.05M | ﹤0.01% |
92,000
+1,000
| +1% | +$18.9K |
|
2264
Seres Therapeutics
MCRB
$45M
| $1.05M | ﹤0.01% |
10,980
+225
| +2% | +$24.5K |
|
2265
Century Aluminum
CENX
$4.59B
| $1.05M | ﹤0.01% |
120,550
+12,100
| +11% | +$105K |
|
2266
Oil States International
OIS
$526M
| $1.05M | ﹤0.01% |
140,000
+2,100
| +2% | +$15.3K |
|
2267
Mitek Systems
MITK
$853M
| $1.04M | ﹤0.01% |
96,400
| – | – |
|
|
VZIO
2268
DELISTED
VIZIO Holding Corp.
VZIO
| $1.04M | ﹤0.01% |
+154,800
| New | +$1.2M |
|
|
AGEN
2269
Agenus
AGEN
$315M
| $1.04M | ﹤0.01% |
32,575
+2,408
| +8% | +$77K |
|
2270
8x8 Inc
EGHT
$303M
| $1.04M | ﹤0.01% |
246,200
+29,300
| +14% | +$106K |
|
2271
Invesco Mortgage Capital
IVR
$805M
| $1.03M | ﹤0.01% |
90,201
+13,900
| +18% | +$149K |
|
2272
OneSpan
OSPN
$624M
| $1.03M | ﹤0.01% |
69,700
+1,200
| +2% | +$18.7K |
|
2273
Magnachip Semiconductor
MX
$137M
| $1.03M | ﹤0.01% |
92,500
-2,800
| -3% | -$27.4K |
|
2274
SandRidge Energy
SD
$516M
| $1.03M | ﹤0.01% |
67,700
| – | – |
|
|
BRY
2275
DELISTED
Berry Corp
BRY
| $1.03M | ﹤0.01% |
150,000
+34,100
| +29% | +$246K |
|
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.