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 | |
|---|---|---|---|---|---|---|
251
United Rentals
URI
$71.2B
| $98.3M | 0.08% |
221,100
-29,600
| -12% | -$13.5M |
|
252
Kroger
KR
$34.5B
| $98.1M | 0.08% |
2,193,100
-268,500
| -11% | -$12.6M |
|
253
Global Payments
GPN
$22.7B
| $97.2M | 0.08% |
842,651
-110,000
| -12% | -$13.1M |
|
254
Sun Life Financial
SLF
$44.6B
| $96.7M | 0.08% |
1,965,500
-242,500
| -11% | -$12.2M |
|
|
SGEN
255
DELISTED
Seagen Inc. Common Stock
SGEN
| $96M | 0.08% |
452,300
-54,500
| -11% | -$10.9M |
|
256
Arch Capital
ACGL
$33.5B
| $95.5M | 0.07% |
1,198,000
-147,500
| -11% | -$11.5M |
|
257
Veeva Systems
VEEV
$38.4B
| $95.4M | 0.07% |
468,700
-56,000
| -11% | -$11.3M |
|
258
Consolidated Edison
ED
$39.8B
| $95.3M | 0.07% |
1,114,800
-136,400
| -11% | -$12.4M |
|
259
Hershey
HSY
$36.6B
| $94.8M | 0.07% |
473,700
-57,900
| -11% | -$13M |
|
260
Newmont
NEM
$124B
| $94.5M | 0.07% |
2,556,160
-313,300
| -11% | -$12.7M |
|
261
Allstate
ALL
$66.3B
| $94.2M | 0.07% |
845,500
-104,900
| -11% | -$11.4M |
|
262
VICI Properties
VICI
$28.6B
| $94M | 0.07% |
3,230,204
-396,700
| -11% | -$12.3M |
|
263
Palantir
PLTR
$420B
| $93.3M | 0.07% |
5,829,500
-664,100
| -10% | -$10.6M |
|
264
Kraft Heinz
KHC
$29.2B
| $93M | 0.07% |
2,763,142
-117,300
| -4% | -$4.05M |
|
265
Keurig Dr Pepper
KDP
$39.7B
| $92.7M | 0.07% |
2,934,900
-366,800
| -11% | -$12.1M |
|
266
Public Service Enterprise Group
PEG
$37.5B
| $91.3M | 0.07% |
1,604,900
-196,500
| -11% | -$12.1M |
|
267
Lennar Class A
LEN
$21.1B
| $91.2M | 0.07% |
839,180
-107,639
| -11% | -$12.6M |
|
268
Aptiv
APTV
$10.3B
| $89.7M | 0.07% |
909,900
-69,000
| -7% | -$7.13M |
|
269
West Pharmaceutical
WST
$24.7B
| $89.6M | 0.07% |
238,800
-29,400
| -11% | -$11.4M |
|
270
GE HealthCare
GEHC
$32.9B
| $89.6M | 0.07% |
1,316,387
-161,400
| -11% | -$11.7M |
|
271
CDW
CDW
$16.9B
| $87.4M | 0.07% |
433,200
-54,900
| -11% | -$10.9M |
|
272
Quanta Services
PWR
$101B
| $87.4M | 0.07% |
467,035
-57,200
| -11% | -$11.5M |
|
273
Gartner
IT
$11.8B
| $87.4M | 0.07% |
254,231
-31,300
| -11% | -$10.9M |
|
274
Franco-Nevada
FNV
$46.4B
| $86.6M | 0.07% |
643,060
-78,300
| -11% | -$11.1M |
|
275
Vulcan Materials
VMC
$37.3B
| $86.5M | 0.07% |
428,100
-52,400
| -11% | -$11.4M |
|
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.