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 |
Snowflake
SNOW
|
+$187M |
| 2 |
Amazon
AMZN
|
+$170M |
| 3 |
Analog Devices
ADI
|
+$104M |
| 4 |
Palantir
PLTR
|
+$95.7M |
| 5 |
Tesla
TSLA
|
+$75.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$364M |
| 2 |
Microsoft
MSFT
|
+$269M |
| 3 |
L3Harris
LHX
|
+$185M |
| 4 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$166M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$140M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.73% |
| 2 | Healthcare | 14.18% |
| 3 | Consumer Discretionary | 13.57% |
| 4 | Communication Services | 11.56% |
| 5 | Industrials | 8.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ALTR
1226
DELISTED
Altair Engineering Inc
ALTR
| $6.96M | ﹤0.01% |
101,000
+3,500
| +4% | +$250K |
|
1227
BridgeBio Pharma
BBIO
$15.9B
| $6.96M | ﹤0.01% |
148,500
+800
| +0.5% | +$42.9K |
|
1228
Brink's
BCO
$4.72B
| $6.96M | ﹤0.01% |
109,900
+900
| +0.8% | +$67.6K |
|
1229
Cracker Barrel
CBRL
$1.31B
| $6.94M | ﹤0.01% |
49,650
| – | – |
|
1230
Marathon Digital Holdings
MARA
$3.56B
| $6.94M | ﹤0.01% |
219,800
+2,000
| +0.9% | +$65K |
|
|
INOV
1231
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
| $6.93M | ﹤0.01% |
171,900
+2,200
| +1% | +$83.2K |
|
|
WBT
1232
DELISTED
Welbilt, Inc.
WBT
| $6.92M | ﹤0.01% |
297,900
+1,600
| +0.5% | +$37.6K |
|
1233
Cathay General Bancorp
CATY
$4.31B
| $6.92M | ﹤0.01% |
167,200
+700
| +0.4% | +$27.3K |
|
1234
Insmed
INSM
$27.6B
| $6.91M | ﹤0.01% |
250,800
+23,700
| +10% | +$622K |
|
1235
Veracyte
VCYT
$3.42B
| $6.9M | ﹤0.01% |
148,600
+900
| +0.6% | +$39.3K |
|
1236
Commault Systems
CVLT
$6.26B
| $6.89M | ﹤0.01% |
91,500
-1,700
| -2% | -$132K |
|
1237
MACOM Technology Solutions
MTSI
$23.5B
| $6.89M | ﹤0.01% |
106,150
+700
| +0.7% | +$43K |
|
|
ALE
1238
DELISTED
Allete
ALE
| $6.86M | ﹤0.01% |
115,300
+400
| +0.3% | +$27.1K |
|
1239
Adaptive Biotechnologies
ADPT
$3.89B
| $6.85M | ﹤0.01% |
201,600
+2,100
| +1% | +$76K |
|
1240
CNO Financial Group
CNO
$5.07B
| $6.84M | ﹤0.01% |
290,700
-6,100
| -2% | -$143K |
|
1241
Blackbaud
BLKB
$2.1B
| $6.83M | ﹤0.01% |
97,053
+1,100
| +1% | +$77.4K |
|
|
NUVA
1242
DELISTED
NuVasive, Inc.
NUVA
| $6.83M | ﹤0.01% |
114,069
+800
| +0.7% | +$49.3K |
|
1243
Tower Semiconductor
TSEM
$28.6B
| $6.81M | ﹤0.01% |
226,134
+818
| +0.4% | +$23.5K |
|
|
FLOW
1244
DELISTED
SPX FLOW, Inc.
FLOW
| $6.81M | ﹤0.01% |
93,218
+300
| +0.3% | +$22.8K |
|
|
SIX
1245
DELISTED
Six Flags Entertainment Corp.
SIX
| $6.81M | ﹤0.01% |
160,300
+700
| +0.4% | +$29.1K |
|
|
CADE
1246
DELISTED
Cadence Bank
CADE
| $6.75M | ﹤0.01% |
226,700
-3,700
| -2% | -$103K |
|
1247
Champion Homes
SKY
$5.23B
| $6.75M | ﹤0.01% |
112,400
| – | – |
|
1248
Option Care Health
OPCH
$3.61B
| $6.75M | ﹤0.01% |
278,100
+99,800
| +56% | +$2.31M |
|
1249
Federated Hermes
FHI
$4.74B
| $6.72M | ﹤0.01% |
206,717
-1,300
| -0.6% | -$42.4K |
|
1250
Texas Capital Bancshares
TCBI
$4.38B
| $6.71M | ﹤0.01% |
111,750
+500
| +0.4% | +$31.1K |
|
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Swiss National Bank's Q3 2021 Portfolio in Review
As of Q3 2021, Swiss National Bank held 2,649 positions worth $157B, down 3% from $162B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Trading was light in Q3 2021: portfolio turnover was 1.3%. Swiss National Bank opened 7 new positions and exited 28, leaving the 2,649-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 27% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2021 buy was DoorDash: 291,100 shares worth $60M.
- Swiss National Bank added most to Snowflake in Q3 2021, an estimated $187M increase.
- Swiss National Bank's biggest Q3 2021 reduction was Apple, cutting an estimated $364M.
- Swiss National Bank fully exited L3Harris in Q3 2021, selling an estimated $185M.
- Swiss National Bank's ten largest holdings make up 26% of its $157B portfolio in Q3 2021.
- Swiss National Bank opened 7 new positions and closed 28 in Q3 2021.
- Swiss National Bank's portfolio value fell 3% quarter-over-quarter to $157B.
Based on Swiss National Bank's 13F filing for Q3 2021, filed 8 Nov 2021.