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 | |
|---|---|---|---|---|---|---|
1026
H.B. Fuller
FUL
$3.24B
| $8.45M | 0.01% |
106,500
-700
| -0.7% | -$56.9K |
|
1027
Euronet Worldwide
EEFT
$2.68B
| $8.44M | 0.01% |
85,100
-400
| -0.5% | -$40.5K |
|
1028
Credo Technology Group
CRDO
$51.5B
| $8.44M | 0.01% |
274,116
+1,100
| +0.4% | +$32.8K |
|
1029
Kilroy Realty
KRC
$4.3B
| $8.43M | 0.01% |
217,711
-1,700
| -0.8% | -$60.1K |
|
1030
Sabra Healthcare REIT
SBRA
$5.21B
| $8.41M | 0.01% |
451,941
-3,700
| -0.8% | -$62.4K |
|
|
TPH
1031
DELISTED
Tri Pointe Homes
TPH
| $8.39M | 0.01% |
185,247
-3,600
| -2% | -$154K |
|
1032
Herc Holdings
HRI
$5.58B
| $8.39M | 0.01% |
52,646
-400
| -0.8% | -$56.7K |
|
1033
Lumentum
LITE
$81.3B
| $8.37M | 0.01% |
132,015
-600
| -0.5% | -$32.5K |
|
|
EFOR
1034
Everforth Inc
EFOR
$1.33B
| $8.35M | 0.01% |
89,600
-1,800
| -2% | -$167K |
|
1035
TPG
TPG
$8.3B
| $8.32M | 0.01% |
144,600
+8,100
| +6% | +$399K |
|
1036
Roivant Sciences
ROIV
$26.2B
| $8.32M | 0.01% |
721,046
+6,900
| +1% | +$78.6K |
|
1037
Southwest Gas
SWX
$6.7B
| $8.26M | 0.01% |
112,000
-900
| -0.8% | -$65K |
|
1038
ICU Medical
ICUI
$4.54B
| $8.24M | 0.01% |
45,219
+2,400
| +6% | +$355K |
|
1039
Black Hills Corp
BKH
$5.65B
| $8.23M | 0.01% |
134,679
+500
| +0.4% | +$29.2K |
|
1040
Grand Canyon Education
LOPE
$3.72B
| $8.23M | 0.01% |
58,000
-1,100
| -2% | -$159K |
|
1041
ONE Gas
OGS
$5.12B
| $8.22M | 0.01% |
110,513
-700
| -0.6% | -$48.1K |
|
1042
Academy Sports + Outdoors
ASO
$3.05B
| $8.22M | 0.01% |
140,900
-5,400
| -4% | -$295K |
|
1043
Magnolia Oil & Gas
MGY
$6.14B
| $8.19M | 0.01% |
335,500
-5,500
| -2% | -$139K |
|
1044
Ormat Technologies
ORA
$7.01B
| $8.17M | 0.01% |
106,234
-600
| -0.6% | -$44.5K |
|
1045
American Eagle Outfitters
AEO
$2.66B
| $8.16M | 0.01% |
364,300
-4,800
| -1% | -$99K |
|
|
SFBS
1046
ServisFirst Bancshares
SFBS
$4.97B
| $8.14M | 0.01% |
101,168
-700
| -0.7% | -$53.3K |
|
1047
Ashland
ASH
$3.42B
| $8.09M | 0.01% |
93,000
-600
| -0.6% | -$53.8K |
|
1048
Legend Biotech
LEGN
$3.96B
| $8.05M | 0.01% |
165,194
+5,200
| +3% | +$277K |
|
1049
Assured Guaranty
AGO
$3.32B
| $8.03M | 0.01% |
101,000
-2,700
| -3% | -$213K |
|
1050
Kontoor Brands
KTB
$4.64B
| $8.02M | 0.01% |
98,114
-600
| -0.6% | -$42.8K |
|
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.