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 | |
|---|---|---|---|---|---|---|
301
HubSpot
HUBS
$11B
| $90.2M | 0.06% |
169,500
-13,600
| -7% | -$6.37M |
|
302
Take-Two Interactive
TTWO
$46.8B
| $89.7M | 0.06% |
609,208
-56,800
| -9% | -$7.43M |
|
303
CDW
CDW
$16.9B
| $89.6M | 0.06% |
488,100
-49,300
| -9% | -$8.61M |
|
304
Eversource Energy
ES
$26.8B
| $89.3M | 0.06% |
1,259,233
-123,000
| -9% | -$9.16M |
|
305
Datadog
DDOG
$88.6B
| $88.8M | 0.06% |
902,700
-82,500
| -8% | -$6.9M |
|
306
Weyerhaeuser
WY
$18B
| $88.7M | 0.06% |
2,646,933
-273,600
| -9% | -$8.24M |
|
307
Pinduoduo
PDD
$129B
| $88.6M | 0.06% |
1,281,137
-87,758
| -6% | -$6.03M |
|
308
Church & Dwight Co
CHD
$24.4B
| $88.3M | 0.06% |
881,400
-86,400
| -9% | -$8.13M |
|
309
Cardinal Health
CAH
$56.3B
| $88M | 0.06% |
930,500
-109,700
| -11% | -$9.27M |
|
310
Tractor Supply
TSCO
$18.4B
| $87.8M | 0.06% |
1,984,500
-207,000
| -9% | -$9.48M |
|
311
Monolithic Power Systems
MPWR
$68.9B
| $87.7M | 0.06% |
162,300
-14,600
| -8% | -$6.94M |
|
312
eBay
EBAY
$47.2B
| $86.7M | 0.06% |
1,939,100
-214,600
| -10% | -$9.53M |
|
313
LyondellBasell Industries
LYB
$20.7B
| $86.3M | 0.06% |
940,300
-93,600
| -9% | -$8.55M |
|
314
Restaurant Brands International
QSR
$25.6B
| $86.3M | 0.06% |
1,112,230
-58,100
| -5% | -$4.19M |
|
315
Royal Caribbean
RCL
$82.1B
| $86.1M | 0.06% |
830,038
-81,400
| -9% | -$6.38M |
|
316
Genuine Parts
GPC
$18.6B
| $86.1M | 0.06% |
508,500
-51,700
| -9% | -$8.46M |
|
317
Equity Residential
EQR
$24.4B
| $85.8M | 0.06% |
1,300,050
-124,700
| -9% | -$7.79M |
|
318
Ulta Beauty
ULTA
$23.3B
| $85.3M | 0.06% |
181,300
-21,900
| -11% | -$10.7M |
|
319
Alnylam Pharmaceuticals
ALNY
$29.6B
| $85M | 0.06% |
447,600
-40,700
| -8% | -$8.07M |
|
320
Thomson Reuters
TRI
$45.4B
| $84.2M | 0.06% |
613,663
-27,897
| -4% | -$3.74M |
|
321
CGI
GIB
$15.5B
| $84.1M | 0.06% |
796,600
-52,200
| -6% | -$5.32M |
|
322
Baxter International
BAX
$14.3B
| $83.2M | 0.06% |
1,825,789
-174,800
| -9% | -$7.61M |
|
323
Enphase Energy
ENPH
$5.59B
| $82.9M | 0.06% |
494,700
-44,800
| -8% | -$8M |
|
324
DTE Energy
DTE
$28.6B
| $81.9M | 0.06% |
744,400
-24,600
| -3% | -$2.74M |
|
325
Diamondback Energy
FANG
$56.5B
| $81.8M | 0.06% |
622,399
-41,100
| -6% | -$5.5M |
|
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.