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 | |
|---|---|---|---|---|---|---|
301
CBRE Group
CBRE
$42.6B
| $73.9M | 0.06% |
999,900
-122,600
| -11% | -$10.2M |
|
302
Datadog
DDOG
$89.4B
| $73.8M | 0.06% |
810,000
-92,700
| -10% | -$9.17M |
|
303
HP
HPQ
$25.9B
| $73.4M | 0.06% |
2,854,200
-347,900
| -11% | -$10.7M |
|
304
Equifax
EFX
$20.9B
| $72.3M | 0.06% |
394,900
-50,100
| -11% | -$10.2M |
|
305
Weyerhaeuser
WY
$17.7B
| $72.2M | 0.06% |
2,355,333
-291,600
| -11% | -$9.6M |
|
306
Hewlett Packard
HPE
$74.3B
| $72.2M | 0.06% |
4,153,900
-526,300
| -11% | -$9.05M |
|
307
Church & Dwight Co
CHD
$24B
| $72M | 0.06% |
785,800
-95,600
| -11% | -$9.15M |
|
308
Dollar Tree
DLTR
$24.5B
| $71.7M | 0.06% |
673,481
-125,500
| -16% | -$16.8M |
|
309
Tractor Supply
TSCO
$18.5B
| $71.5M | 0.06% |
1,761,500
-223,000
| -11% | -$9.66M |
|
310
Willis Towers Watson
WTW
$31.4B
| $71.5M | 0.06% |
342,310
-42,200
| -11% | -$9.01M |
|
311
Align Technology
ALGN
$12.2B
| $71.4M | 0.06% |
233,700
-29,500
| -11% | -$10.2M |
|
312
Cardinal Health
CAH
$55.1B
| $71.1M | 0.06% |
819,000
-111,500
| -12% | -$10.1M |
|
313
Alnylam Pharmaceuticals
ALNY
$29.7B
| $70.9M | 0.06% |
400,600
-47,000
| -11% | -$8.97M |
|
314
Hartford Financial Services
HIG
$38B
| $70.8M | 0.06% |
998,000
-130,300
| -12% | -$9.46M |
|
|
DFS
315
DELISTED
Discover Financial Services
DFS
| $70.8M | 0.06% |
816,890
-119,800
| -13% | -$11.9M |
|
316
CGI
GIB
$15.2B
| $70.5M | 0.06% |
709,200
-87,400
| -11% | -$8.93M |
|
317
Xylem
XYL
$28.2B
| $70.1M | 0.06% |
769,892
-89,500
| -10% | -$9.23M |
|
318
ResMed
RMD
$32.5B
| $69.9M | 0.05% |
472,600
-57,900
| -11% | -$10.5M |
|
319
Fair Isaac
FICO
$22.1B
| $69.8M | 0.05% |
80,400
-10,400
| -11% | -$8.93M |
|
320
Illumina
ILMN
$28.6B
| $69.8M | 0.05% |
522,738
-63,942
| -11% | -$10.5M |
|
321
SBA Communications
SBAC
$19.4B
| $69.8M | 0.05% |
348,500
-42,800
| -11% | -$9.52M |
|
322
Steris
STE
$22.9B
| $69.6M | 0.05% |
317,360
-41,300
| -12% | -$9.34M |
|
323
Royal Caribbean
RCL
$81.9B
| $68.2M | 0.05% |
740,338
-89,700
| -11% | -$8.99M |
|
324
Equity Residential
EQR
$24.2B
| $68M | 0.05% |
1,157,950
-142,100
| -11% | -$9.18M |
|
325
Broadridge
BR
$19B
| $67.9M | 0.05% |
379,500
-45,500
| -11% | -$8.06M |
|
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.