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 | |
|---|---|---|---|---|---|---|
1226
RXO
RXO
$3.85B
| $5.77M | ﹤0.01% |
254,500
+30,900
| +14% | +$622K |
|
1227
Enpro
NPO
$7.12B
| $5.77M | ﹤0.01% |
43,200
+600
| +1% | +$63.7K |
|
1228
Hertz
HTZ
$838M
| $5.75M | ﹤0.01% |
312,800
-11,500
| -4% | -$188K |
|
1229
FormFactor
FORM
$10.3B
| $5.75M | ﹤0.01% |
167,900
+1,600
| +1% | +$47.8K |
|
1230
HUB Group
HUBG
$2.55B
| $5.74M | ﹤0.01% |
143,000
+2,000
| +1% | +$77.3K |
|
1231
ScottsMiracle-Gro
SMG
$3.59B
| $5.72M | ﹤0.01% |
91,300
+1,500
| +2% | +$101K |
|
1232
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$5.44B
| $5.71M | ﹤0.01% |
228,334
+36,200
| +19% | +$948K |
|
1233
Interparfums
IPAR
$3.7B
| $5.68M | ﹤0.01% |
42,000
+700
| +2% | +$98K |
|
1234
Frontdoor
FTDR
$5.83B
| $5.66M | ﹤0.01% |
177,503
+1,600
| +0.9% | +$47.7K |
|
1235
Korn Ferry
KFY
$4.36B
| $5.65M | ﹤0.01% |
114,100
-1,200
| -1% | -$59K |
|
1236
Helen of Troy
HELE
$699M
| $5.65M | ﹤0.01% |
52,300
+500
| +1% | +$47.9K |
|
1237
Kadant
KAI
$3.91B
| $5.64M | ﹤0.01% |
25,400
+200
| +0.8% | +$40.1K |
|
1238
Resideo Technologies
REZI
$3.1B
| $5.64M | ﹤0.01% |
319,200
+4,500
| +1% | +$77.7K |
|
1239
AeroVironment
AVAV
$9.59B
| $5.63M | ﹤0.01% |
55,000
+3,800
| +7% | +$383K |
|
1240
iQIYI
IQ
$1.31B
| $5.62M | ﹤0.01% |
1,052,161
| – | – |
|
|
CSW
1241
CSW Industrials
CSW
$5.59B
| $5.61M | ﹤0.01% |
33,749
+2,000
| +6% | +$289K |
|
1242
Hamilton Lane
HLNE
$5.91B
| $5.61M | ﹤0.01% |
70,100
-7,500
| -10% | -$539K |
|
1243
Rush Enterprises Class A
RUSHA
$9.62B
| $5.59M | ﹤0.01% |
138,150
+1,050
| +0.8% | +$38.5K |
|
1244
Rogers Corp
ROG
$2.46B
| $5.59M | ﹤0.01% |
34,500
-6,100
| -15% | -$967K |
|
1245
WD-40
WDFC
$3.09B
| $5.58M | ﹤0.01% |
29,600
+300
| +1% | +$56.7K |
|
1246
Papa John's
PZZA
$804M
| $5.57M | ﹤0.01% |
75,500
+3,100
| +4% | +$230K |
|
1247
Kohl's
KSS
$2.22B
| $5.56M | ﹤0.01% |
241,100
-10,600
| -4% | -$229K |
|
|
ESGR
1248
DELISTED
Enstar Group
ESGR
| $5.54M | ﹤0.01% |
22,700
-1,500
| -6% | -$371K |
|
1249
Crane NXT
CXT
$2.96B
| $5.54M | ﹤0.01% |
98,200
-198,337
| -67% | -$10.1M |
|
|
THS
1250
DELISTED
Treehouse Foods
THS
| $5.54M | ﹤0.01% |
109,951
+1,000
| +0.9% | +$51.3K |
|
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.