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 |
Nu Holdings
NU
|
+$90.5M |
| 2 |
SW
Smurfit Westrock
SW
|
+$70M |
| 3 |
Pinduoduo
PDD
|
+$28.2M |
| 4 |
Microsoft
MSFT
|
+$24.7M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$21.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$118M |
| 2 |
Apple
AAPL
|
+$43.5M |
| 3 |
WRK
WestRock Company
WRK
|
+$38.2M |
| 4 |
Danaher
DHR
|
+$27.6M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.62% |
| 2 | Healthcare | 12.18% |
| 3 | Consumer Discretionary | 11.62% |
| 4 | Industrials | 9.21% |
| 5 | Communication Services | 9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
926
SiriusXM
SIRI
$9.59B
| $10.2M | 0.01% |
+432,085
| New | +$13.4M |
|
927
Idacorp
IDA
$8.21B
| $10.2M | 0.01% |
99,000
-600
| -0.6% | -$59.9K |
|
928
Radian Group
RDN
$4.87B
| $10.2M | 0.01% |
293,950
-4,100
| -1% | -$142K |
|
929
Champion Homes
SKY
$5.1B
| $10.2M | 0.01% |
107,300
-700
| -0.6% | -$58.7K |
|
930
Vontier
VNT
$4.52B
| $10.2M | 0.01% |
301,400
-2,800
| -0.9% | -$99.5K |
|
931
Brookfield Infrastructure
BIPC
$4.93B
| $10.2M | 0.01% |
233,477
-1,600
| -0.7% | -$62.2K |
|
932
Group 1 Automotive
GPI
$3.17B
| $10.2M | 0.01% |
26,500
-400
| -1% | -$137K |
|
|
EDR
933
DELISTED
Endeavor Group Holdings, Inc.
EDR
| $10.1M | 0.01% |
354,400
| – | – |
|
934
Glacier Bancorp
GBCI
$6.4B
| $10.1M | 0.01% |
221,421
-1,700
| -0.8% | -$73.4K |
|
|
AMTM
935
Amentum Holdings
AMTM
$5.51B
| $10.1M | 0.01% |
+312,800
| New | +$8.91M |
|
936
Transmedics
TMDX
$3.02B
| $10.1M | 0.01% |
64,200
-100
| -0.2% | -$15.4K |
|
937
Nexstar Media Group
NXST
$5.7B
| $10.1M | 0.01% |
60,860
-4,900
| -7% | -$829K |
|
938
Home BancShares
HOMB
$6.23B
| $10.1M | 0.01% |
371,407
-4,400
| -1% | -$117K |
|
939
Brink's
BCO
$4.69B
| $10M | 0.01% |
86,800
-1,100
| -1% | -$116K |
|
940
Noble Corp
NE
$7.04B
| $10M | 0.01% |
277,706
+53,012
| +24% | +$2.14M |
|
941
Hexcel
HXL
$7.74B
| $10M | 0.01% |
162,300
-1,200
| -0.7% | -$75.4K |
|
942
Wayfair
W
$14.1B
| $10M | 0.01% |
178,500
+1,200
| +0.7% | +$57.8K |
|
943
Valvoline
VVV
$4.25B
| $10M | 0.01% |
239,065
-3,200
| -1% | -$136K |
|
944
Impinj
PI
$5.49B
| $9.98M | 0.01% |
46,100
-200
| -0.4% | -$33.9K |
|
945
Nextpower Inc
NXT
$15.7B
| $9.96M | 0.01% |
265,620
+23,900
| +10% | +$996K |
|
946
Boot Barn
BOOT
$4.87B
| $9.92M | 0.01% |
59,300
-300
| -0.5% | -$41.3K |
|
947
FNB Corp
FNB
$6.86B
| $9.91M | 0.01% |
702,215
-3,700
| -0.5% | -$52.8K |
|
948
ICL Group
ICL
$7.06B
| $9.87M | 0.01% |
2,306,997
+8,848
| +0.4% | +$37.5K |
|
949
Piper Sandler
PIPR
$5.34B
| $9.82M | 0.01% |
138,400
-800
| -0.6% | -$52.3K |
|
950
United Bankshares
UBSI
$6.66B
| $9.79M | 0.01% |
263,963
-1,500
| -0.6% | -$54.7K |
|
Similar funds
Swiss National Bank's Q3 2024 Portfolio in Review
As of Q3 2024, Swiss National Bank held 2,510 positions worth $154B, up 5.8% from $146B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Trading was light in Q3 2024: portfolio turnover was 3.9%. Swiss National Bank opened 52 new positions and exited 45, leaving the 2,510-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2024 buy was Nu Holdings: 6,729,657 shares worth $91.9M.
- Swiss National Bank added most to Pinduoduo in Q3 2024, an estimated $28.2M increase.
- Swiss National Bank's biggest Q3 2024 reduction was NVIDIA, cutting an estimated $118M.
- Swiss National Bank fully exited WestRock Company in Q3 2024, selling an estimated $38.2M.
- Swiss National Bank's ten largest holdings make up 32% of its $154B portfolio in Q3 2024.
- Swiss National Bank opened 52 new positions and closed 45 in Q3 2024.
- Swiss National Bank's portfolio value rose 5.8% quarter-over-quarter to $154B.
Based on Swiss National Bank's 13F filing for Q3 2024, filed 7 Nov 2024.