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 | |
|---|---|---|---|---|---|---|
576
Bio-Rad Laboratories Class A
BIO
$9.68B
| $25.4M | 0.02% |
71,000
-8,600
| -11% | -$3.32M |
|
577
Lear
LEA
$8.07B
| $25.4M | 0.02% |
189,300
-23,200
| -11% | -$3.36M |
|
578
Robert Half
RHI
$4.25B
| $25.3M | 0.02% |
345,800
-41,900
| -11% | -$3.18M |
|
579
Fortune Brands Innovations
FBIN
$5.83B
| $25.3M | 0.02% |
407,600
-50,900
| -11% | -$3.5M |
|
580
CAE Inc. Common Shares
CAE
$8.9B
| $25.1M | 0.02% |
1,065,600
-130,500
| -11% | -$3.02M |
|
581
GFL Environmental
GFL
$14.7B
| $24.9M | 0.02% |
778,100
-95,800
| -11% | -$3.29M |
|
582
Vertiv
VRT
$111B
| $24.8M | 0.02% |
667,700
-33,900
| -5% | -$1.12M |
|
583
News Corp Class A
NWSA
$15.5B
| $24.6M | 0.02% |
1,225,675
-149,400
| -11% | -$3.03M |
|
584
Assurant
AIZ
$13.9B
| $24.6M | 0.02% |
171,000
-19,300
| -10% | -$2.64M |
|
585
Stantec
STN
$8.47B
| $24.4M | 0.02% |
372,570
+127,900
| +52% | +$8.5M |
|
586
ZTO Express
ZTO
$17.6B
| $24.2M | 0.02% |
1,001,155
-66,506
| -6% | -$1.69M |
|
587
Erie Indemnity
ERIE
$13.5B
| $23.9M | 0.02% |
81,420
-10,000
| -11% | -$2.59M |
|
588
KE Holdings
BEKE
$19.2B
| $23.7M | 0.02% |
1,525,730
-117,913
| -7% | -$1.87M |
|
589
Bath & Body Works
BBWI
$3.65B
| $23.6M | 0.02% |
699,600
-85,200
| -11% | -$3.09M |
|
590
Cognex
CGNX
$10.2B
| $23.6M | 0.02% |
555,200
-68,500
| -11% | -$3.37M |
|
591
Whirlpool
WHR
$2.79B
| $23.6M | 0.02% |
176,200
-19,900
| -10% | -$2.81M |
|
592
SolarEdge
SEDG
$1.97B
| $23.5M | 0.02% |
181,300
-21,600
| -11% | -$4.14M |
|
593
Saia
SAIA
$9.73B
| $23.3M | 0.02% |
58,400
+600
| +1% | +$242K |
|
594
Dentsply Sirona
XRAY
$2.27B
| $23.3M | 0.02% |
681,301
-82,800
| -11% | -$3.15M |
|
595
Albertsons Companies
ACI
$5.83B
| $23.2M | 0.02% |
1,018,400
-13,500
| -1% | -$301K |
|
596
Ally Financial
ALLY
$13.5B
| $23.2M | 0.02% |
868,120
-105,400
| -11% | -$2.94M |
|
597
Arrow Electronics
ARW
$10.7B
| $23.1M | 0.02% |
184,700
-22,400
| -11% | -$2.99M |
|
598
Lincoln Electric
LECO
$15.6B
| $23M | 0.02% |
126,500
+1,100
| +0.9% | +$210K |
|
599
Unity
U
$19.6B
| $22.9M | 0.02% |
730,800
-89,100
| -11% | -$3.43M |
|
|
P
600
Everpure Inc
P
$37B
| $22.9M | 0.02% |
642,200
+5,100
| +0.8% | +$189K |
|
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.