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 |
Spotify
SPOT
|
+$181M |
| 2 |
Boeing
BA
|
+$50.7M |
| 3 |
Carvana
CVNA
|
+$25.6M |
| 4 |
ConocoPhillips
COP
|
+$24.1M |
| 5 |
EXE
Expand Energy Corp
EXE
|
+$18.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$513M |
| 2 |
Microsoft
MSFT
|
+$430M |
| 3 |
Amazon
AMZN
|
+$228M |
| 4 |
Meta Platforms (Facebook)
META
|
+$194M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$155M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.87% |
| 2 | Consumer Discretionary | 12.65% |
| 3 | Healthcare | 10.7% |
| 4 | Communication Services | 9.69% |
| 5 | Industrials | 8.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1401
Renasant Corp
RNST
$4B
| $4.47M | ﹤0.01% |
125,000
+2,800
| +2% | +$98.8K |
|
1402
Addus HomeCare
ADUS
$2.18B
| $4.46M | ﹤0.01% |
35,600
+200
| +0.6% | +$25.3K |
|
|
CON
1403
Concentra Group Holdings
CON
$4.44B
| $4.46M | ﹤0.01% |
+225,235
| New | +$4.66M |
|
|
IBTX
1404
DELISTED
Independent Bank Group, Inc.
IBTX
| $4.45M | ﹤0.01% |
73,322
+600
| +0.8% | +$37.1K |
|
1405
NBT Bancorp
NBTB
$2.78B
| $4.43M | ﹤0.01% |
92,800
+700
| +0.8% | +$33.3K |
|
1406
Energizer
ENR
$1.55B
| $4.43M | ﹤0.01% |
127,025
-6,200
| -5% | -$214K |
|
|
MPT
1407
Medical Properties Trust
MPT
$2.51B
| $4.43M | ﹤0.01% |
1,121,500
-50,000
| -4% | -$224K |
|
1408
Viavi Solutions
VIAV
$10.6B
| $4.43M | ﹤0.01% |
438,400
+2,600
| +0.6% | +$25.7K |
|
1409
ICF International
ICFI
$1.6B
| $4.4M | ﹤0.01% |
36,900
+300
| +0.8% | +$44.9K |
|
1410
ZIM Integrated Shipping Services
ZIM
$3.24B
| $4.39M | ﹤0.01% |
204,700
+15,600
| +8% | +$343K |
|
1411
Bausch Health
BHC
$2.35B
| $4.39M | ﹤0.01% |
543,860
-32,300
| -6% | -$266K |
|
1412
Enerpac Tool Group
EPAC
$1.9B
| $4.39M | ﹤0.01% |
106,800
+800
| +0.8% | +$36.6K |
|
|
CPRX
1413
DELISTED
Catalyst Pharmaceutical
CPRX
| $4.38M | ﹤0.01% |
210,100
+2,500
| +1% | +$53.7K |
|
1414
Standex International
SXI
$3.97B
| $4.38M | ﹤0.01% |
23,400
+200
| +0.9% | +$38.6K |
|
1415
Oscar Health
OSCR
$9.44B
| $4.37M | ﹤0.01% |
324,800
+9,900
| +3% | +$159K |
|
1416
Werner Enterprises
WERN
$2.32B
| $4.36M | ﹤0.01% |
121,500
+3,800
| +3% | +$146K |
|
1417
Clear Secure
YOU
$4.7B
| $4.36M | ﹤0.01% |
163,500
| – | – |
|
1418
Huron Consulting
HURN
$2.45B
| $4.35M | ﹤0.01% |
35,000
-200
| -0.6% | -$23.4K |
|
1419
Extreme Networks
EXTR
$3.17B
| $4.35M | ﹤0.01% |
259,700
+6,500
| +3% | +$105K |
|
1420
Evertec
EVTC
$1.91B
| $4.34M | ﹤0.01% |
125,774
| – | – |
|
1421
Alpha Metallurgical Resources
AMR
$1.98B
| $4.34M | ﹤0.01% |
21,700
+100
| +0.5% | +$22.4K |
|
1422
ArcBest
ARCB
$3.31B
| $4.34M | ﹤0.01% |
46,500
+700
| +2% | +$74K |
|
|
ROIC
1423
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $4.34M | ﹤0.01% |
249,800
| – | – |
|
1424
Banc of California
BANC
$3.11B
| $4.33M | ﹤0.01% |
280,214
+2,600
| +0.9% | +$41K |
|
1425
Azenta
AZTA
$1.48B
| $4.33M | ﹤0.01% |
86,600
-9,400
| -10% | -$428K |
|
Similar funds
Swiss National Bank's Q4 2024 Portfolio in Review
As of Q4 2024, Swiss National Bank held 2,505 positions worth $150B, down 2.4% from $154B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Swiss National Bank withdrew a net $6.32B in Q4 2024, closing 65 positions and reducing 893 holdings. Its most notable exit was Marathon Oil Corporation, an estimated $44.6M position sold in full.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Swiss National Bank opened a new position in Spotify worth $189M.
- Swiss National Bank's largest Q4 2024 buy was Spotify: 422,900 shares worth $189M.
- Swiss National Bank added most to Boeing in Q4 2024, an estimated $50.7M increase.
- Swiss National Bank's biggest Q4 2024 reduction was NVIDIA, cutting an estimated $513M.
- Swiss National Bank fully exited Marathon Oil Corporation in Q4 2024, selling an estimated $44.6M.
- Swiss National Bank's ten largest holdings make up 34% of its $150B portfolio in Q4 2024.
- Swiss National Bank opened 40 new positions and closed 65 in Q4 2024.
- Swiss National Bank's portfolio value fell 2.4% quarter-over-quarter to $150B.
Based on Swiss National Bank's 13F filing for Q4 2024, filed 10 Feb 2025.