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 | |
|---|---|---|---|---|---|---|
726
Landstar System
LSTR
$6.4B
| $15.1M | 0.01% |
78,500
+1,000
| +1% | +$181K |
|
727
Crocs
CROX
$6.36B
| $15.1M | 0.01% |
134,400
+1,100
| +0.8% | +$131K |
|
728
Autoliv
ALV
$8.89B
| $15.1M | 0.01% |
177,600
| – | – |
|
729
Mattel
MAT
$4.25B
| $15.1M | 0.01% |
770,600
+5,700
| +0.7% | +$103K |
|
730
ICL Group
ICL
$6.96B
| $15M | 0.01% |
2,774,623
-39,579
| -1% | -$239K |
|
731
Advance Auto Parts
AAP
$3.46B
| $15M | 0.01% |
213,700
-20,800
| -9% | -$2.14M |
|
|
SGI
732
Somnigroup International
SGI
$14B
| $15M | 0.01% |
374,600
+24,000
| +7% | +$903K |
|
733
Gentex
GNTX
$4.99B
| $14.9M | 0.01% |
510,000
+3,700
| +0.7% | +$102K |
|
734
XPO
XPO
$24.7B
| $14.8M | 0.01% |
251,500
+27,800
| +12% | +$1.26M |
|
735
Encompass Health
EHC
$12.2B
| $14.7M | 0.01% |
217,100
+1,800
| +0.8% | +$113K |
|
736
Woodward
WWD
$21.2B
| $14.7M | 0.01% |
123,500
+900
| +0.7% | +$95.4K |
|
737
Eagle Materials
EXP
$6.41B
| $14.6M | 0.01% |
78,500
-1,000
| -1% | -$159K |
|
|
GTLS
738
DELISTED
Chart Industries
GTLS
| $14.6M | 0.01% |
91,300
-600
| -0.7% | -$76.7K |
|
739
Tower Semiconductor
TSEM
$28.6B
| $14.5M | 0.01% |
394,389
-39,392
| -9% | -$1.63M |
|
740
Vipshop
VIPS
$6.8B
| $14.4M | 0.01% |
873,801
-307,362
| -26% | -$4.81M |
|
|
SWN
741
DELISTED
Southwestern Energy Company
SWN
| $14.4M | 0.01% |
2,397,700
+492,100
| +26% | +$2.54M |
|
742
Brixmor Property Group
BRX
$9.21B
| $14.4M | 0.01% |
654,300
+7,000
| +1% | +$146K |
|
743
Novanta
NOVT
$6.33B
| $14.4M | 0.01% |
78,000
+1,000
| +1% | +$164K |
|
744
Cullen/Frost Bankers
CFR
$10.5B
| $14.3M | 0.01% |
133,100
+1,300
| +1% | +$136K |
|
745
BWX Technologies
BWXT
$15.6B
| $14.2M | 0.01% |
199,100
+2,200
| +1% | +$144K |
|
746
Polaris
PII
$3.91B
| $14.2M | 0.01% |
117,800
-1,000
| -0.8% | -$111K |
|
747
NovoCure
NVCR
$2.02B
| $14.2M | 0.01% |
341,300
-32,600
| -9% | -$2.02M |
|
748
Mine Safety
MSA
$7.32B
| $14.1M | 0.01% |
81,200
+800
| +1% | +$114K |
|
749
MKS Inc
MKSI
$20.7B
| $14.1M | 0.01% |
130,600
+1,400
| +1% | +$128K |
|
|
KRTX
750
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| $14.1M | 0.01% |
65,100
+5,700
| +10% | +$1.22M |
|
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.