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 | |
|---|---|---|---|---|---|---|
951
ONE Gas
OGS
$5.09B
| $9.26M | 0.01% |
120,513
+3,700
| +3% | +$296K |
|
952
Box
BOX
$4.66B
| $9.23M | 0.01% |
314,100
+6,900
| +2% | +$191K |
|
|
PCH
953
DELISTED
PotlatchDeltic
PCH
| $9.21M | 0.01% |
174,314
| – | – |
|
954
Diodes
DIOD
$4.48B
| $9.2M | 0.01% |
99,500
+1,400
| +1% | +$123K |
|
955
Columbia Banking Systems
COLB
$9.18B
| $9.2M | 0.01% |
453,721
+4,900
| +1% | +$103K |
|
956
Fluor
FLR
$7B
| $9.16M | 0.01% |
309,300
+2,600
| +0.8% | +$74.6K |
|
957
CRISPR Therapeutics
CRSP
$5.22B
| $9.13M | 0.01% |
162,700
+2,200
| +1% | +$125K |
|
958
DoubleVerify
DV
$2.04B
| $9.12M | 0.01% |
234,300
+145,300
| +163% | +$4.69M |
|
959
Portland General Electric
POR
$5.92B
| $9.12M | 0.01% |
194,700
+2,100
| +1% | +$104K |
|
960
IPG Photonics
IPGP
$3.57B
| $9.1M | 0.01% |
67,000
-6,600
| -9% | -$778K |
|
961
Noble Corp
NE
$7.07B
| $9.1M | 0.01% |
220,194
+1,500
| +0.7% | +$57.8K |
|
962
Advanced Energy
AEIS
$13.2B
| $9.09M | 0.01% |
81,600
+900
| +1% | +$85.8K |
|
963
Academy Sports + Outdoors
ASO
$3.03B
| $9.05M | 0.01% |
167,500
+4,000
| +2% | +$230K |
|
964
CONMED
CNMD
$1.49B
| $9.05M | 0.01% |
66,600
+800
| +1% | +$97.7K |
|
965
Blue Owl Capital
OWL
$19.7B
| $9.04M | 0.01% |
776,100
+208,100
| +37% | +$2.24M |
|
966
Teladoc Health
TDOC
$1.26B
| $9.02M | 0.01% |
356,202
+6,700
| +2% | +$169K |
|
|
ETRN
967
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $9.01M | 0.01% |
942,987
+55,600
| +6% | +$373K |
|
968
Insight Enterprises
NSIT
$4.6B
| $9.01M | 0.01% |
61,600
-13,600
| -18% | -$1.83M |
|
969
QuidelOrtho
QDEL
$1.03B
| $9.01M | 0.01% |
108,740
+1,900
| +2% | +$166K |
|
970
FNB Corp
FNB
$6.88B
| $9M | 0.01% |
786,415
+29,300
| +4% | +$331K |
|
971
Silgan Holdings
SLGN
$4.46B
| $8.99M | 0.01% |
191,700
+1,600
| +0.8% | +$77.8K |
|
|
IMGN
972
DELISTED
Immunogen Inc
IMGN
| $8.98M | 0.01% |
476,100
+47,300
| +11% | +$558K |
|
973
Independence Realty Trust
IRT
$4.01B
| $8.9M | 0.01% |
488,600
+5,000
| +1% | +$85.4K |
|
974
Old National Bancorp
ONB
$10.4B
| $8.88M | 0.01% |
637,037
+4,900
| +0.8% | +$65.1K |
|
975
Terex
TEX
$7.57B
| $8.85M | 0.01% |
148,000
+2,300
| +2% | +$114K |
|
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.