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 |
CRH
CRH
|
+$154M |
| 2 |
Kenvue
KVUE
|
+$114M |
| 3 |
Textron
TXT
|
+$48.3M |
| 4 |
Extra Space Storage
EXR
|
+$25.8M |
| 5 |
AngloGold Ashanti
AU
|
+$20M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.2B |
| 2 |
Microsoft
MSFT
|
+$932M |
| 3 |
Amazon
AMZN
|
+$488M |
| 4 |
NVIDIA
NVDA
|
+$437M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$311M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.42% |
| 2 | Healthcare | 13.62% |
| 3 | Consumer Discretionary | 11.97% |
| 4 | Industrials | 9.15% |
| 5 | Communication Services | 8.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWO
1626
Two Harbors Investment
TWO
$1.26B
| $2.81M | ﹤0.01% |
212,488
+2,000
| +1% | +$26.8K |
|
1627
CoreCivic
CXW
$3.13B
| $2.81M | ﹤0.01% |
249,718
| – | – |
|
|
SVC
1628
Service Properties Trust
SVC
$1.06B
| $2.8M | ﹤0.01% |
72,738
+700
| +1% | +$29.1K |
|
1629
Under Armour Class C
UA
$2.25B
| $2.8M | ﹤0.01% |
438,200
+30,200
| +7% | +$208K |
|
1630
DNOW Inc
DNOW
$2.95B
| $2.79M | ﹤0.01% |
235,200
-4,800
| -2% | -$53.6K |
|
1631
Dutch Bros
BROS
$8.93B
| $2.79M | ﹤0.01% |
119,900
+40,300
| +51% | +$1.15M |
|
|
CIM
1632
Chimera Investment
CIM
$993M
| $2.79M | ﹤0.01% |
170,060
+1,833
| +1% | +$32.2K |
|
1633
National Vision
EYE
$1.51B
| $2.78M | ﹤0.01% |
172,000
| – | – |
|
|
SQSP
1634
DELISTED
Squarespace, Inc.
SQSP
| $2.78M | ﹤0.01% |
95,900
+10,300
| +12% | +$316K |
|
1635
Photronics
PLAB
$1.97B
| $2.78M | ﹤0.01% |
137,400
+1,400
| +1% | +$32.7K |
|
1636
Equinox Gold
EQX
$13.1B
| $2.77M | ﹤0.01% |
653,690
| – | – |
|
1637
Trustmark
TRMK
$2.8B
| $2.77M | ﹤0.01% |
127,500
+1,300
| +1% | +$30.2K |
|
1638
Phinia Inc
PHIN
$2.7B
| $2.77M | ﹤0.01% |
+103,316
| New | +$2.86M |
|
1639
Palomar
PLMR
$3.37B
| $2.77M | ﹤0.01% |
54,500
| – | – |
|
1640
Procept Biorobotics
PRCT
$1.26B
| $2.76M | ﹤0.01% |
84,200
+1,100
| +1% | +$37.5K |
|
1641
First Commonwealth Financial
FCF
$2.19B
| $2.76M | ﹤0.01% |
226,200
+1,700
| +0.8% | +$22.4K |
|
1642
Orion
OEC
$360M
| $2.75M | ﹤0.01% |
129,400
+5,400
| +4% | +$118K |
|
|
NXGN
1643
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
| $2.75M | ﹤0.01% |
116,000
+1,000
| +0.9% | +$18.8K |
|
1644
CTS Corp
CTS
$1.79B
| $2.75M | ﹤0.01% |
65,900
+500
| +0.8% | +$21.5K |
|
1645
Ameresco
AMRC
$1.47B
| $2.75M | ﹤0.01% |
71,300
+1,000
| +1% | +$48.3K |
|
1646
Liberty Latin America Class C
LILAK
$1.65B
| $2.74M | ﹤0.01% |
369,839
| – | – |
|
1647
Impinj
PI
$5.46B
| $2.74M | ﹤0.01% |
49,800
+1,400
| +3% | +$95K |
|
|
AGNT
1648
AGNT Inc
AGNT
$752M
| $2.74M | ﹤0.01% |
168,700
+6,400
| +4% | +$132K |
|
|
AMWD
1649
DELISTED
American Woodmark
AMWD
| $2.74M | ﹤0.01% |
36,200
| – | – |
|
1650
Kirby Corp
KEX
$7.26B
| $2.73M | ﹤0.01% |
32,957
+300
| +0.9% | +$24.3K |
|
Similar funds
Swiss National Bank's Q3 2023 Portfolio in Review
As of Q3 2023, Swiss National Bank held 2,646 positions worth $127B, down 13% from $147B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank withdrew a net $15B in Q3 2023, closing 38 positions and reducing 826 holdings. Its most notable exit was Black Knight, Inc. Common Stock, an estimated $36.2M position sold in full.
By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in CRH worth $150M.
- Swiss National Bank's largest Q3 2023 buy was CRH: 2,712,293 shares worth $150M.
- Swiss National Bank added most to Extra Space Storage in Q3 2023, an estimated $25.8M increase.
- Swiss National Bank's biggest Q3 2023 reduction was Apple, cutting an estimated $1.2B.
- Swiss National Bank fully exited Black Knight, Inc. Common Stock in Q3 2023, selling an estimated $36.2M.
- Swiss National Bank's ten largest holdings make up 28% of its $127B portfolio in Q3 2023.
- Swiss National Bank opened 46 new positions and closed 38 in Q3 2023.
- Swiss National Bank's portfolio value fell 13% quarter-over-quarter to $127B.
Based on Swiss National Bank's 13F filing for Q3 2023, filed 8 Nov 2023.