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 | |
|---|---|---|---|---|---|---|
1151
COPT Defense Properties
CDP
$4.23B
| $6.67M | ﹤0.01% |
220,000
-1,800
| -0.8% | -$51.3K |
|
1152
Brinker International
EAT
$10.2B
| $6.66M | ﹤0.01% |
87,000
| – | – |
|
1153
Axcelis
ACLS
$4.42B
| $6.66M | ﹤0.01% |
63,500
-700
| -1% | -$81.9K |
|
1154
Axos Financial
AX
$5.72B
| $6.65M | ﹤0.01% |
105,700
-600
| -0.6% | -$39.4K |
|
|
MZTI
1155
The Marzetti Company
MZTI
$3.22B
| $6.64M | ﹤0.01% |
37,626
-300
| -0.8% | -$55.2K |
|
1156
Envista
NVST
$4.51B
| $6.63M | ﹤0.01% |
335,400
-3,100
| -0.9% | -$54K |
|
1157
Amkor Technology
AMKR
$14.3B
| $6.62M | ﹤0.01% |
216,300
-1,700
| -0.8% | -$57.9K |
|
1158
Atlantic Union Bankshares
AUB
$6.09B
| $6.6M | ﹤0.01% |
175,247
-900
| -0.5% | -$33.9K |
|
1159
Mueller Water Products
MWA
$3.98B
| $6.6M | ﹤0.01% |
304,000
-3,200
| -1% | -$64.4K |
|
1160
Brady Corp
BRC
$4.43B
| $6.57M | ﹤0.01% |
85,800
-2,500
| -3% | -$178K |
|
|
FLG
1161
Flagstar Bank National Association
FLG
$5.92B
| $6.55M | ﹤0.01% |
582,902
+108,300
| +23% | +$1.15M |
|
1162
Cogent Communications
CCOI
$530M
| $6.54M | ﹤0.01% |
86,100
-700
| -0.8% | -$48.2K |
|
1163
BGC Group
BGC
$5.2B
| $6.54M | ﹤0.01% |
711,908
-6,300
| -0.9% | -$58.9K |
|
1164
International Bancshares
IBOC
$4.57B
| $6.54M | ﹤0.01% |
109,300
-700
| -0.6% | -$43K |
|
1165
Warrior Met Coal
HCC
$4.98B
| $6.52M | ﹤0.01% |
102,100
-800
| -0.8% | -$49.7K |
|
1166
Texas Capital Bancshares
TCBI
$4.38B
| $6.51M | ﹤0.01% |
91,050
-2,200
| -2% | -$144K |
|
1167
Iridium Communications
IRDM
$5.27B
| $6.5M | ﹤0.01% |
213,400
-1,600
| -0.7% | -$43.6K |
|
1168
ESCO Technologies
ESE
$7.79B
| $6.49M | ﹤0.01% |
50,300
-500
| -1% | -$58.9K |
|
1169
ABM Industries
ABM
$2.82B
| $6.47M | ﹤0.01% |
122,600
-1,900
| -2% | -$100K |
|
1170
MGE Energy Inc
MGEE
$3.06B
| $6.46M | ﹤0.01% |
70,650
-700
| -1% | -$59.9K |
|
1171
Frontline
FRO
$9.02B
| $6.46M | ﹤0.01% |
284,767
-2,018
| -0.7% | -$47.5K |
|
1172
Simply Good Foods
SMPL
$989M
| $6.46M | ﹤0.01% |
185,800
-1,300
| -0.7% | -$44.1K |
|
|
DNB
1173
DELISTED
Dun & Bradstreet
DNB
| $6.46M | ﹤0.01% |
560,900
| – | – |
|
1174
Fulton Financial
FULT
$4.69B
| $6.43M | ﹤0.01% |
354,900
+2,900
| +0.8% | +$52.8K |
|
|
BWIN
1175
Baldwin Insurance Group
BWIN
$2.99B
| $6.43M | ﹤0.01% |
129,200
+1,900
| +1% | +$82.6K |
|
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.