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 | |
|---|---|---|---|---|---|---|
|
DM
2301
DELISTED
Desktop Metal, Inc.
DM
| $983K | ﹤0.01% |
55,530
+7,550
| +16% | +$151K |
|
|
WSR
2302
DELISTED
Whitestone REIT
WSR
| $983K | ﹤0.01% |
101,300
| – | – |
|
2303
Hanmi Financial
HAFC
$962M
| $982K | ﹤0.01% |
65,800
| – | – |
|
2304
CareDx
CDNA
$2.42B
| $982K | ﹤0.01% |
115,500
| – | – |
|
|
AAN
2305
DELISTED
The Aaron's Company Inc
AAN
| $980K | ﹤0.01% |
69,300
+2,900
| +4% | +$35.8K |
|
2306
Boston Omaha
BOC
$431M
| $976K | ﹤0.01% |
51,863
+8,600
| +20% | +$175K |
|
2307
Camden National
CAC
$992M
| $974K | ﹤0.01% |
31,461
| – | – |
|
2308
QuinStreet
QNST
$1.18B
| $971K | ﹤0.01% |
110,000
| – | – |
|
|
TPIC
2309
DELISTED
TPI Composites
TPIC
| $971K | ﹤0.01% |
93,600
+3,000
| +3% | +$33.6K |
|
2310
Forestar Group
FOR
$1.49B
| $968K | ﹤0.01% |
42,917
| – | – |
|
2311
Byline Bancorp
BY
$1.78B
| $966K | ﹤0.01% |
53,400
+4,800
| +10% | +$90.2K |
|
2312
Vishay Precision Group
VPG
$931M
| $966K | ﹤0.01% |
26,000
-1,100
| -4% | -$40.9K |
|
2313
Ezcorp Inc
EZPW
$1.81B
| $965K | ﹤0.01% |
115,200
| – | – |
|
|
LUCK
2314
Lucky Strike Entertainment
LUCK
$941M
| $965K | ﹤0.01% |
82,900
| – | – |
|
|
WOW
2315
DELISTED
WideOpenWest
WOW
| $959K | ﹤0.01% |
113,600
| – | – |
|
2316
First Mid Bancshares
FMBH
$1.38B
| $958K | ﹤0.01% |
39,700
| – | – |
|
2317
Domo
DOMO
$183M
| $957K | ﹤0.01% |
65,300
-1,600
| -2% | -$23.6K |
|
2318
Merchants Bancorp
MBIN
$2.54B
| $954K | ﹤0.01% |
37,300
| – | – |
|
|
CFB
2319
DELISTED
CrossFirst Bankshares, Inc. Common Stock
CFB
| $952K | ﹤0.01% |
95,200
-4,500
| -5% | -$46.4K |
|
2320
American Well
AMWL
$223M
| $951K | ﹤0.01% |
22,635
+390
| +2% | +$17.2K |
|
2321
Carriage Services
CSV
$554M
| $950K | ﹤0.01% |
29,271
+700
| +2% | +$19.6K |
|
2322
FRP Holdings
FRPH
$428M
| $950K | ﹤0.01% |
33,000
+6,400
| +24% | +$183K |
|
2323
Peapack-Gladstone Financial
PGC
$824M
| $942K | ﹤0.01% |
34,800
| – | – |
|
2324
Cerus
CERS
$570M
| $942K | ﹤0.01% |
382,900
| – | – |
|
|
IAUX
2325
i-80 Gold Corp
IAUX
$1.44B
| $940K | ﹤0.01% |
417,400
+77,200
| +23% | +$182K |
|
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.