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 |
CRH
CRH
|
+$154M |
| 2 |
Kenvue
KVUE
|
+$114M |
| 3 |
Textron
TXT
|
+$48.3M |
| 4 |
Extra Space Storage
EXR
|
+$25.8M |
| 5 |
AngloGold Ashanti
AU
|
+$20M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.2B |
| 2 |
Microsoft
MSFT
|
+$932M |
| 3 |
Amazon
AMZN
|
+$488M |
| 4 |
NVIDIA
NVDA
|
+$437M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$311M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.42% |
| 2 | Healthcare | 13.62% |
| 3 | Consumer Discretionary | 11.97% |
| 4 | Industrials | 9.15% |
| 5 | Communication Services | 8.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CNSL
2476
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
| $570K | ﹤0.01% |
166,647
+4,800
| +3% | +$17.6K |
|
2477
Dyne Therapeutics
DYN
$4.89B
| $569K | ﹤0.01% |
63,500
| – | – |
|
2478
Summit Therapeutics
SMMT
$12B
| $568K | ﹤0.01% |
303,800
| – | – |
|
|
AGTI
2479
DELISTED
Agiliti Inc
AGTI
| $567K | ﹤0.01% |
87,400
| – | – |
|
|
ME
2480
DELISTED
23andMe Holding Co
ME
| $567K | ﹤0.01% |
28,990
+700
| +2% | +$19.6K |
|
2481
Babcock & Wilcox
BW
$1.46B
| $564K | ﹤0.01% |
133,900
| – | – |
|
2482
Phibro Animal Health
PAHC
$1.37B
| $561K | ﹤0.01% |
43,900
| – | – |
|
2483
Enliven Therapeutics
ELVN
$4.24B
| $556K | ﹤0.01% |
40,673
-8,500
| -17% | -$143K |
|
|
ITOS
2484
DELISTED
iTeos Therapeutics
ITOS
| $554K | ﹤0.01% |
50,600
| – | – |
|
|
OLPX
2485
DELISTED
Olaplex Holdings
OLPX
| $553K | ﹤0.01% |
283,800
| – | – |
|
|
SEMR
2486
DELISTED
Semrush
SEMR
| $553K | ﹤0.01% |
65,100
-12,200
| -16% | -$114K |
|
2487
Funko
FNKO
$331M
| $551K | ﹤0.01% |
72,000
| – | – |
|
2488
Innoviz Technologies
INVZ
$114M
| $549K | ﹤0.01% |
281,400
+45,100
| +19% | +$121K |
|
2489
Lindblad Expeditions
LIND
$2.24B
| $548K | ﹤0.01% |
76,141
+1,600
| +2% | +$15.2K |
|
2490
8x8 Inc
EGHT
$290M
| $548K | ﹤0.01% |
217,500
-28,700
| -12% | -$102K |
|
2491
Vanda Pharmaceuticals
VNDA
$314M
| $546K | ﹤0.01% |
126,300
+4,100
| +3% | +$22.8K |
|
2492
Ribbon Communications
RBBN
$372M
| $543K | ﹤0.01% |
202,674
| – | – |
|
2493
Vivid Seats
SEAT
$81.6M
| $542K | ﹤0.01% |
4,225
+205
| +5% | +$30.2K |
|
2494
American Well
AMWL
$215M
| $542K | ﹤0.01% |
23,160
+525
| +2% | +$17.7K |
|
|
EBIX
2495
DELISTED
Ebix Inc
EBIX
| $537K | ﹤0.01% |
54,400
+1,100
| +2% | +$21.4K |
|
2496
Arcutis Biotherapeutics
ARQT
$3.3B
| $537K | ﹤0.01% |
101,200
+9,100
| +10% | +$77.4K |
|
|
SHCO
2497
DELISTED
Soho House & Co
SHCO
| $537K | ﹤0.01% |
77,500
+12,800
| +20% | +$82.2K |
|
|
SFIX
2498
Stitch Fix
SFIX
$474M
| $536K | ﹤0.01% |
155,400
+3,700
| +2% | +$14.8K |
|
2499
Seres Therapeutics
MCRB
$47.4M
| $536K | ﹤0.01% |
11,250
+270
| +2% | +$20.6K |
|
2500
Distribution Solutions Group
DSGR
$1.61B
| $531K | ﹤0.01% |
20,404
| – | – |
|
Similar funds
Swiss National Bank's Q3 2023 Portfolio in Review
As of Q3 2023, Swiss National Bank held 2,646 positions worth $127B, down 13% from $147B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank withdrew a net $15B in Q3 2023, closing 38 positions and reducing 826 holdings. Its most notable exit was Black Knight, Inc. Common Stock, an estimated $36.2M position sold in full.
By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in CRH worth $150M.
- Swiss National Bank's largest Q3 2023 buy was CRH: 2,712,293 shares worth $150M.
- Swiss National Bank added most to Extra Space Storage in Q3 2023, an estimated $25.8M increase.
- Swiss National Bank's biggest Q3 2023 reduction was Apple, cutting an estimated $1.2B.
- Swiss National Bank fully exited Black Knight, Inc. Common Stock in Q3 2023, selling an estimated $36.2M.
- Swiss National Bank's ten largest holdings make up 28% of its $127B portfolio in Q3 2023.
- Swiss National Bank opened 46 new positions and closed 38 in Q3 2023.
- Swiss National Bank's portfolio value fell 13% quarter-over-quarter to $127B.
Based on Swiss National Bank's 13F filing for Q3 2023, filed 8 Nov 2023.