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 |
Nu Holdings
NU
|
+$90.5M |
| 2 |
SW
Smurfit Westrock
SW
|
+$70M |
| 3 |
Pinduoduo
PDD
|
+$28.2M |
| 4 |
Microsoft
MSFT
|
+$24.7M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$21.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$118M |
| 2 |
Apple
AAPL
|
+$43.5M |
| 3 |
WRK
WestRock Company
WRK
|
+$38.2M |
| 4 |
Danaher
DHR
|
+$27.6M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.62% |
| 2 | Healthcare | 12.18% |
| 3 | Consumer Discretionary | 11.62% |
| 4 | Industrials | 9.21% |
| 5 | Communication Services | 9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Ferrari
RACE
$72.1B
| $177M | 0.12% |
377,857
+1,914
| +0.5% | +$858K |
|
152
Roper Technologies
ROP
$39.5B
| $177M | 0.11% |
317,700
+800
| +0.3% | +$440K |
|
153
Autodesk
ADSK
$53.1B
| $176M | 0.11% |
639,700
+6,400
| +1% | +$1.61M |
|
154
Hilton Worldwide
HLT
$70.8B
| $171M | 0.11% |
742,079
-2,100
| -0.3% | -$455K |
|
155
Public Storage
PSA
$60.7B
| $171M | 0.11% |
469,400
+1,300
| +0.3% | +$422K |
|
156
Marathon Petroleum
MPC
$94.5B
| $170M | 0.11% |
1,045,766
-21,200
| -2% | -$3.58M |
|
157
Capital One
COF
$134B
| $170M | 0.11% |
1,133,600
+2,300
| +0.2% | +$328K |
|
158
D.R. Horton
DHI
$42.2B
| $168M | 0.11% |
879,700
-4,500
| -0.5% | -$791K |
|
159
Norfolk Southern
NSC
$75.2B
| $167M | 0.11% |
670,600
+1,700
| +0.3% | +$408K |
|
160
Airbnb
ABNB
$111B
| $166M | 0.11% |
1,310,600
+2,000
| +0.2% | +$259K |
|
161
Phillips 66
PSX
$89.5B
| $165M | 0.11% |
1,258,550
-8,200
| -0.6% | -$1.11M |
|
162
Williams Companies
WMB
$88.4B
| $165M | 0.11% |
3,617,300
+9,800
| +0.3% | +$431K |
|
163
Realty Income
O
$58.6B
| $164M | 0.11% |
2,584,694
+35,100
| +1% | +$2.09M |
|
164
Simon Property Group
SPG
$71.2B
| $163M | 0.11% |
967,327
+2,400
| +0.2% | +$380K |
|
165
American Electric Power
AEP
$67.3B
| $161M | 0.1% |
1,564,600
+6,700
| +0.4% | +$654K |
|
166
United Rentals
URI
$71.2B
| $160M | 0.1% |
197,600
-1,300
| -0.7% | -$935K |
|
167
Manulife Financial
MFC
$72.7B
| $160M | 0.1% |
5,396,800
-7,700
| -0.1% | -$207K |
|
168
AutoZone
AZO
$49.7B
| $160M | 0.1% |
50,700
-500
| -1% | -$1.54M |
|
169
Travelers Companies
TRV
$78.3B
| $159M | 0.1% |
679,700
+1,700
| +0.3% | +$375K |
|
170
Oneok
OKE
$57.7B
| $158M | 0.1% |
1,732,188
+5,600
| +0.3% | +$487K |
|
171
Sempra
SRE
$55.9B
| $157M | 0.1% |
1,878,400
+6,700
| +0.4% | +$536K |
|
172
Digital Realty Trust
DLR
$70.6B
| $156M | 0.1% |
963,149
+38,500
| +4% | +$5.9M |
|
173
Johnson Controls International
JCI
$93.7B
| $155M | 0.1% |
1,999,581
-18,100
| -0.9% | -$1.27M |
|
174
Workday
WDAY
$44.8B
| $154M | 0.1% |
629,200
+4,500
| +0.7% | +$1.06M |
|
175
PACCAR
PCAR
$69.8B
| $154M | 0.1% |
1,555,625
+4,100
| +0.3% | +$401K |
|
Similar funds
Swiss National Bank's Q3 2024 Portfolio in Review
As of Q3 2024, Swiss National Bank held 2,510 positions worth $154B, up 5.8% from $146B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Trading was light in Q3 2024: portfolio turnover was 3.9%. Swiss National Bank opened 52 new positions and exited 45, leaving the 2,510-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q3 2024 buy was Nu Holdings: 6,729,657 shares worth $91.9M.
- Swiss National Bank added most to Pinduoduo in Q3 2024, an estimated $28.2M increase.
- Swiss National Bank's biggest Q3 2024 reduction was NVIDIA, cutting an estimated $118M.
- Swiss National Bank fully exited WestRock Company in Q3 2024, selling an estimated $38.2M.
- Swiss National Bank's ten largest holdings make up 32% of its $154B portfolio in Q3 2024.
- Swiss National Bank opened 52 new positions and closed 45 in Q3 2024.
- Swiss National Bank's portfolio value rose 5.8% quarter-over-quarter to $154B.
Based on Swiss National Bank's 13F filing for Q3 2024, filed 7 Nov 2024.