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 | |
|---|---|---|---|---|---|---|
1076
American Healthcare REIT
AHR
$10.3B
| $7.61M | ﹤0.01% |
291,400
+162,800
| +127% | +$3.17M |
|
|
PPLI
1077
People Inc
PPLI
$3.01B
| $7.6M | ﹤0.01% |
172,123
-13,653
| -7% | -$569K |
|
1078
Spire
SR
$4.9B
| $7.59M | ﹤0.01% |
112,750
+4,600
| +4% | +$299K |
|
1079
Shake Shack
SHAK
$2.98B
| $7.59M | ﹤0.01% |
73,500
-400
| -0.5% | -$38.5K |
|
1080
MSC Industrial Direct
MSM
$6.77B
| $7.55M | ﹤0.01% |
87,700
-900
| -1% | -$73.6K |
|
|
SEM
1081
DELISTED
Select Medical
SEM
| $7.53M | ﹤0.01% |
400,710
+1,484
| +0.4% | +$28.4K |
|
1082
Walker & Dunlop
WD
$1.47B
| $7.5M | ﹤0.01% |
66,000
| – | – |
|
1083
Cedar Fair
FUN
$1.71B
| $7.49M | ﹤0.01% |
+185,907
| New | +$8.5M |
|
1084
Workiva
WK
$4.01B
| $7.49M | ﹤0.01% |
94,621
-400
| -0.4% | -$30K |
|
1085
Innovative Industrial Properties
IIPR
$1.67B
| $7.46M | ﹤0.01% |
55,400
-100
| -0.2% | -$12.2K |
|
|
CIVI
1086
DELISTED
Civitas Resources
CIVI
| $7.43M | ﹤0.01% |
146,630
+17,300
| +13% | +$1.07M |
|
1087
CNO Financial Group
CNO
$5.07B
| $7.42M | ﹤0.01% |
211,400
-2,400
| -1% | -$77.2K |
|
1088
Sanmina
SANM
$11.1B
| $7.41M | ﹤0.01% |
108,300
-1,400
| -1% | -$96.6K |
|
|
SPR
1089
DELISTED
Spirit AeroSystems
SPR
| $7.41M | ﹤0.01% |
227,800
-800
| -0.3% | -$27.4K |
|
1090
CRISPR Therapeutics
CRSP
$5.22B
| $7.4M | ﹤0.01% |
157,600
-1,100
| -0.7% | -$55.8K |
|
1091
Maplebear
CART
$11.6B
| $7.37M | ﹤0.01% |
180,900
-2,300
| -1% | -$80.7K |
|
1092
Choice Hotels
CHH
$4.71B
| $7.34M | ﹤0.01% |
56,367
-7,200
| -11% | -$902K |
|
|
TXNM
1093
TXNM Energy Inc
TXNM
$5.91B
| $7.32M | ﹤0.01% |
167,300
-1,300
| -0.8% | -$52.8K |
|
1094
Denali Therapeutics
DNLI
$3.97B
| $7.3M | ﹤0.01% |
250,700
+17,900
| +8% | +$444K |
|
1095
DXC Technology
DXC
$1.79B
| $7.3M | ﹤0.01% |
351,900
-7,800
| -2% | -$155K |
|
1096
Plexus
PLXS
$7.04B
| $7.3M | ﹤0.01% |
53,400
-1,000
| -2% | -$121K |
|
1097
Frontdoor
FTDR
$5.83B
| $7.29M | ﹤0.01% |
152,003
-2,200
| -1% | -$95.4K |
|
1098
EPR Properties
EPR
$4.73B
| $7.25M | ﹤0.01% |
147,788
-1,100
| -0.7% | -$50.2K |
|
|
ALE
1099
DELISTED
Allete
ALE
| $7.24M | ﹤0.01% |
112,800
-600
| -0.5% | -$38.2K |
|
1100
ScottsMiracle-Gro
SMG
$3.59B
| $7.21M | ﹤0.01% |
83,200
-700
| -0.8% | -$49.2K |
|
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.