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 | |
|---|---|---|---|---|---|---|
2501
Atlanta Braves Holdings Series A
BATRA
$3.64B
| $598K | ﹤0.01% |
14,622
-2,000
| -12% | -$77.3K |
|
2502
Scholar Rock
SRRK
$6.46B
| $598K | ﹤0.01% |
79,300
-4,300
| -5% | -$32.5K |
|
2503
Children's Place
PLCE
$53.1M
| $596K | ﹤0.01% |
25,700
-1,100
| -4% | -$28K |
|
|
AD
2504
Array Digital Infrastructure
AD
$3.09B
| $596K | ﹤0.01% |
33,800
| – | – |
|
2505
Zumiez
ZUMZ
$319M
| $595K | ﹤0.01% |
35,700
| – | – |
|
|
TERN
2506
DELISTED
Terns Pharmaceuticals
TERN
| $594K | ﹤0.01% |
+67,900
| New | +$791K |
|
2507
Cellebrite
CLBT
$2.69B
| $594K | ﹤0.01% |
82,500
| – | – |
|
2508
Expensify
EXFY
$202M
| $594K | ﹤0.01% |
74,400
+44,800
| +151% | +$329K |
|
2509
Amalgamated Financial
AMAL
$1.53B
| $591K | ﹤0.01% |
36,700
+3,600
| +11% | +$57.8K |
|
|
ONTF
2510
DELISTED
ON24
ONTF
| $587K | ﹤0.01% |
72,300
+10,100
| +16% | +$83.9K |
|
|
MRSN
2511
DELISTED
Mersana Therapeutics
MRSN
| $586K | ﹤0.01% |
7,124
+232
| +3% | +$33.9K |
|
|
SFIX
2512
Stitch Fix
SFIX
$490M
| $584K | ﹤0.01% |
151,700
-32,600
| -18% | -$123K |
|
2513
HBT Financial
HBT
$1.35B
| $581K | ﹤0.01% |
31,500
+10,700
| +51% | +$196K |
|
2514
Ribbon Communications
RBBN
$376M
| $565K | ﹤0.01% |
202,674
+39,400
| +24% | +$109K |
|
2515
Angi Inc
ANGI
$195M
| $565K | ﹤0.01% |
17,120
+1,110
| +7% | +$31.1K |
|
2516
Bank of Marin Bancorp
BMRC
$462M
| $557K | ﹤0.01% |
31,500
-3,100
| -9% | -$56.3K |
|
2517
Legacy Housing
LEGH
$692M
| $555K | ﹤0.01% |
+23,944
| New | +$518K |
|
2518
ARS Pharmaceuticals
SPRY
$605M
| $551K | ﹤0.01% |
+82,300
| New | +$549K |
|
2519
Rimini Street
RMNI
$470M
| $548K | ﹤0.01% |
114,400
| – | – |
|
2520
Arhaus
ARHS
$1.38B
| $541K | ﹤0.01% |
51,900
+6,200
| +14% | +$50.6K |
|
|
CBL
2521
CBL Properties
CBL
$1.78B
| $538K | ﹤0.01% |
24,400
-3,100
| -11% | -$72.7K |
|
2522
Westrock Coffee
WEST
$819M
| $537K | ﹤0.01% |
49,400
-21,600
| -30% | -$250K |
|
2523
Garrett Motion
GTX
$5.35B
| $536K | ﹤0.01% |
+70,800
| New | +$568K |
|
|
AMRS
2524
DELISTED
Amyris Inc.
AMRS
| $534K | ﹤0.01% |
518,900
-30,300
| -6% | -$28.2K |
|
2525
Lexicon Pharmaceuticals
LXRX
$1.04B
| $531K | ﹤0.01% |
232,000
+69,100
| +42% | +$183K |
|
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.