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 | |
|---|---|---|---|---|---|---|
526
C.H. Robinson
CHRW
$17.1B
| $32.2M | 0.03% |
373,400
-47,200
| -11% | -$4.41M |
|
|
DAY
527
DELISTED
Dayforce
DAY
| $32.1M | 0.03% |
473,700
-55,000
| -10% | -$3.87M |
|
528
Open Text
OTEX
$5.8B
| $32.1M | 0.03% |
907,000
-110,800
| -11% | -$4.34M |
|
529
Caesars Entertainment
CZR
$6.04B
| $32.1M | 0.03% |
692,200
-84,800
| -11% | -$4.51M |
|
530
Globe Life
GL
$13.8B
| $31.8M | 0.03% |
292,900
-38,300
| -12% | -$4.28M |
|
531
Regency Centers
REG
$13.9B
| $31.8M | 0.02% |
534,628
-22,092
| -4% | -$1.39M |
|
|
EXE
532
Expand Energy Corp
EXE
$22.3B
| $31.5M | 0.02% |
365,700
-47,800
| -12% | -$4.06M |
|
533
F5
FFIV
$24B
| $31.3M | 0.02% |
194,500
-22,700
| -10% | -$3.55M |
|
534
Henry Schein
HSIC
$10.1B
| $31.3M | 0.02% |
421,400
-52,500
| -11% | -$4.04M |
|
535
HEICO Corp Class A
HEI.A
$38B
| $30.8M | 0.02% |
238,195
-29,100
| -11% | -$3.95M |
|
536
Wynn Resorts
WYNN
$10.6B
| $30.4M | 0.02% |
329,400
-40,100
| -11% | -$4.02M |
|
537
BorgWarner
BWA
$14B
| $30.4M | 0.02% |
753,984
-204,895
| -21% | -$8.68M |
|
538
Qiagen
QGEN
$8.88B
| $30.4M | 0.02% |
708,071
-84,824
| -11% | -$3.95M |
|
539
Qorvo
QRVO
$8.67B
| $30.3M | 0.02% |
317,245
-43,500
| -12% | -$4.44M |
|
540
Annaly Capital Management
NLY
$17.4B
| $29.9M | 0.02% |
1,588,600
-194,700
| -11% | -$3.87M |
|
541
Teleflex
TFX
$6.03B
| $29.7M | 0.02% |
151,100
-18,600
| -11% | -$4.22M |
|
|
WRK
542
DELISTED
WestRock Company
WRK
| $29.5M | 0.02% |
823,886
-91,800
| -10% | -$3.01M |
|
543
Allegion
ALLE
$14.1B
| $29.5M | 0.02% |
282,900
-34,400
| -11% | -$3.87M |
|
544
Eastman Chemical
EMN
$8.29B
| $29.4M | 0.02% |
383,300
-47,000
| -11% | -$3.9M |
|
545
NIO
NIO
$11.4B
| $29.3M | 0.02% |
3,245,031
-179,210
| -5% | -$1.99M |
|
546
Snap
SNAP
$8.79B
| $29.1M | 0.02% |
3,267,900
-326,400
| -9% | -$3.41M |
|
|
JNPR
547
DELISTED
Juniper Networks
JNPR
| $28.7M | 0.02% |
1,034,400
-126,000
| -11% | -$3.63M |
|
548
Vail Resorts
MTN
$5.29B
| $28.7M | 0.02% |
129,400
-16,200
| -11% | -$3.84M |
|
549
NRG Energy
NRG
$25.4B
| $28.5M | 0.02% |
740,600
-96,300
| -12% | -$3.64M |
|
550
Boston Properties
BXP
$10.8B
| $28.4M | 0.02% |
477,800
-58,000
| -11% | -$3.71M |
|
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.