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 | |
|---|---|---|---|---|---|---|
|
MCFE
1701
DELISTED
McAfee Corp. Class A Common Stock
MCFE
| $3.49M | ﹤0.01% |
158,000
+68,500
| +77% | +$1.77M |
|
1702
Axcelis
ACLS
$4.44B
| $3.48M | ﹤0.01% |
74,100
| – | – |
|
|
VCRA
1703
DELISTED
VOCERA COMMUNICATIONS, INC.
VCRA
| $3.48M | ﹤0.01% |
76,000
+3,600
| +5% | +$161K |
|
1704
NBT Bancorp
NBTB
$2.79B
| $3.48M | ﹤0.01% |
96,200
| – | – |
|
|
PGRE
1705
DELISTED
Paramount Group
PGRE
| $3.47M | ﹤0.01% |
386,143
| – | – |
|
1706
Carpenter Technology
CRS
$26.5B
| $3.47M | ﹤0.01% |
105,900
| – | – |
|
|
AAMI
1707
Acadian Asset Management
AAMI
$3.26B
| $3.45M | ﹤0.01% |
132,060
| – | – |
|
1708
Vermilion Energy
VET
$1.7B
| $3.44M | ﹤0.01% |
350,267
| – | – |
|
1709
Ameresco
AMRC
$1.47B
| $3.44M | ﹤0.01% |
58,800
+6,100
| +12% | +$402K |
|
1710
Sinclair Inc
SBGI
$1.01B
| $3.43M | ﹤0.01% |
108,150
+4,900
| +5% | +$144K |
|
1711
CBIZ
CBZ
$2.96B
| $3.42M | ﹤0.01% |
105,700
-1,600
| -1% | -$52.1K |
|
1712
Mesa Laboratories
MLAB
$646M
| $3.42M | ﹤0.01% |
11,302
| – | – |
|
1713
Cohu
COHU
$2.75B
| $3.42M | ﹤0.01% |
106,950
+3,000
| +3% | +$102K |
|
|
MTOR
1714
DELISTED
MERITOR, Inc.
MTOR
| $3.41M | ﹤0.01% |
159,900
| – | – |
|
1715
Mercury Insurance
MCY
$5.85B
| $3.4M | ﹤0.01% |
61,000
| – | – |
|
|
VNET
1716
VNET Group
VNET
$2.14B
| $3.39M | ﹤0.01% |
195,720
+1,600
| +0.8% | +$29.8K |
|
1717
Bionano Genomics
BNGO
$13.2M
| $3.38M | ﹤0.01% |
1,024
| – | – |
|
1718
Global Net Lease
GNL
$1.9B
| $3.38M | ﹤0.01% |
210,767
+13,200
| +7% | +$232K |
|
1719
Encore Capital Group
ECPG
$2.14B
| $3.38M | ﹤0.01% |
68,500
-600
| -0.9% | -$28.5K |
|
|
ANAT
1720
DELISTED
American National Group, Inc. Common Stock
ANAT
| $3.37M | ﹤0.01% |
17,813
| – | – |
|
|
LGF.B
1721
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $3.36M | ﹤0.01% |
258,694
| – | – |
|
1722
Oxford Industries
OXM
$550M
| $3.35M | ﹤0.01% |
37,200
| – | – |
|
1723
PAR Technology
PAR
$739M
| $3.35M | ﹤0.01% |
54,500
+6,900
| +14% | +$443K |
|
1724
Deluxe
DLX
$1.09B
| $3.35M | ﹤0.01% |
93,200
+600
| +0.6% | +$24.4K |
|
|
FOE
1725
DELISTED
Ferro Corporation
FOE
| $3.34M | ﹤0.01% |
164,300
+1,100
| +0.7% | +$22.8K |
|
Similar funds
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.