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 | |
|---|---|---|---|---|---|---|
|
CUTR
2551
DELISTED
Cutera, Inc.
CUTR
| $457K | ﹤0.01% |
30,200
-3,700
| -11% | -$70.1K |
|
2552
Hippo Holdings
HIPO
$865M
| $453K | ﹤0.01% |
27,408
| – | – |
|
2553
Erasca
ERAS
$6.54B
| $452K | ﹤0.01% |
163,900
+15,300
| +10% | +$43.6K |
|
2554
MediaAlpha
MAX
$772M
| $447K | ﹤0.01% |
43,400
-7,700
| -15% | -$69.6K |
|
2555
Ranpak Holdings
PACK
$463M
| $446K | ﹤0.01% |
98,700
+4,900
| +5% | +$19.5K |
|
|
LEV
2556
DELISTED
The Lion Electric Company
LEV
| $445K | ﹤0.01% |
240,400
+26,700
| +12% | +$53.9K |
|
2557
SIGA Technologies
SIGA
$205M
| $437K | ﹤0.01% |
86,500
-8,000
| -8% | -$45.5K |
|
2558
Bristow Group
VTOL
$1.37B
| $437K | ﹤0.01% |
15,200
| – | – |
|
2559
KRONOS Worldwide
KRO
$922M
| $435K | ﹤0.01% |
49,800
| – | – |
|
|
FFWM
2560
DELISTED
First Foundation Inc
FFWM
| $435K | ﹤0.01% |
109,500
| – | – |
|
2561
SoundThinking
SSTI
$105M
| $431K | ﹤0.01% |
19,700
| – | – |
|
|
RPTX
2562
DELISTED
Repare Therapeutics
RPTX
| $431K | ﹤0.01% |
40,700
| – | – |
|
|
ZYXI
2563
DELISTED
Zynex
ZYXI
| $421K | ﹤0.01% |
43,900
-4,600
| -9% | -$47.7K |
|
|
KLRS
2564
Kalaris Therapeutics
KLRS
$94.7M
| $421K | ﹤0.01% |
5,378
+1,004
| +23% | +$95.4K |
|
2565
CS Disco
LAW
$269M
| $418K | ﹤0.01% |
50,900
| – | – |
|
2566
Cullinan Oncology
CGEM
$1.26B
| $415K | ﹤0.01% |
38,600
+9,000
| +30% | +$95.6K |
|
|
NSTG
2567
DELISTED
NanoString Technologies, Inc.
NSTG
| $412K | ﹤0.01% |
101,800
+6,200
| +6% | +$45.8K |
|
|
NEWP
2568
New Pacific Metals
NEWP
$1.23B
| $407K | ﹤0.01% |
187,760
| – | – |
|
|
VLD
2569
DELISTED
Velo3D, Inc.
VLD
| $407K | ﹤0.01% |
5,386
+1,937
| +56% | +$135K |
|
|
ALLK
2570
DELISTED
Allakos
ALLK
| $406K | ﹤0.01% |
93,200
+10,500
| +13% | +$47.2K |
|
2571
SES AI
SES
$210M
| $406K | ﹤0.01% |
166,500
-64,600
| -28% | -$125K |
|
|
CMBM
2572
DELISTED
Cambium Networks
CMBM
| $400K | ﹤0.01% |
26,300
| – | – |
|
2573
Karyopharm Therapeutics
KPTI
$47.6M
| $400K | ﹤0.01% |
14,890
-547
| -4% | -$23.6K |
|
|
PAMT
2574
PAMT Corp
PAMT
$275M
| $386K | ﹤0.01% |
14,415
| – | – |
|
2575
El Pollo Loco
LOCO
$461M
| $385K | ﹤0.01% |
43,950
| – | – |
|
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.