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 | |
|---|---|---|---|---|---|---|
626
TechnipFMC
FTI
$29.5B
| $19.7M | 0.02% |
970,600
+9,800
| +1% | +$185K |
|
627
FirstService
FSV
$6.24B
| $19.7M | 0.02% |
134,500
-16,300
| -11% | -$2.49M |
|
628
Five Below
FIVE
$13.2B
| $19.7M | 0.02% |
122,359
+1,200
| +1% | +$219K |
|
629
Interactive Brokers
IBKR
$41.5B
| $19.6M | 0.02% |
905,600
+8,400
| +0.9% | +$187K |
|
630
Penumbra
PEN
$12.9B
| $19.3M | 0.02% |
79,900
+900
| +1% | +$250K |
|
631
nVent Electric
NVT
$27.7B
| $19.3M | 0.02% |
364,187
+3,500
| +1% | +$189K |
|
632
Service Corp International
SCI
$11.5B
| $19.1M | 0.02% |
334,000
+500
| +0.1% | +$31.6K |
|
|
AZPN
633
DELISTED
Aspen Technology Inc
AZPN
| $19.1M | 0.02% |
93,400
-12,100
| -11% | -$2.28M |
|
634
Delta Air Lines
DAL
$59.1B
| $19.1M | 0.02% |
515,300
-62,500
| -11% | -$2.71M |
|
635
XPO
XPO
$24.5B
| $19M | 0.01% |
254,700
+3,200
| +1% | +$221K |
|
636
Clean Harbors
CLH
$16.7B
| $18.9M | 0.01% |
113,000
-500
| -0.4% | -$84.3K |
|
637
Kinross Gold
KGC
$32.6B
| $18.9M | 0.01% |
4,112,218
-614,000
| -13% | -$3.01M |
|
638
CubeSmart
CUBE
$9.28B
| $18.8M | 0.01% |
493,900
+2,900
| +0.6% | +$122K |
|
639
Celsius Holdings
CELH
$6.99B
| $18.8M | 0.01% |
329,100
+53,700
| +19% | +$3.02M |
|
640
Huazhu Hotels Group
HTHT
$12.7B
| $18.8M | 0.01% |
477,041
+254
| +0.1% | +$10.7K |
|
641
VF Corp
VFC
$5.73B
| $18.7M | 0.01% |
1,059,400
-128,700
| -11% | -$2.45M |
|
642
Healthcare Realty
HR
$6.58B
| $18.6M | 0.01% |
1,220,986
-148,300
| -11% | -$2.63M |
|
643
Toast
TOST
$19.7B
| $18.6M | 0.01% |
994,300
-106,100
| -10% | -$2.3M |
|
644
Sensata Technologies
ST
$6.72B
| $18.5M | 0.01% |
489,150
-59,200
| -11% | -$2.39M |
|
645
WillScot Mobile Mini Holdings
WSC
$4B
| $18.5M | 0.01% |
444,793
-3,200
| -0.7% | -$141K |
|
646
Pinnacle West Capital
PNW
$12.2B
| $18.3M | 0.01% |
249,000
+2,400
| +1% | +$190K |
|
647
NOV
NOV
$7.45B
| $18.1M | 0.01% |
865,300
+8,100
| +0.9% | +$161K |
|
648
Nutanix
NTNX
$17.5B
| $18.1M | 0.01% |
518,300
+17,300
| +3% | +$543K |
|
649
Americold
COLD
$4.17B
| $18.1M | 0.01% |
593,800
+5,700
| +1% | +$184K |
|
650
AptarGroup
ATR
$8.47B
| $18M | 0.01% |
144,000
+1,700
| +1% | +$208K |
|
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.