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 | |
|---|---|---|---|---|---|---|
1751
ACM Research
ACMR
$5.83B
| $3.16M | ﹤0.01% |
86,100
+2,400
| +3% | +$73.4K |
|
1752
US Physical Therapy
USPH
$1.23B
| $3.15M | ﹤0.01% |
28,500
+200
| +0.7% | +$22.8K |
|
1753
Ocugen
OCGN
$468M
| $3.15M | ﹤0.01% |
438,000
+23,400
| +6% | +$172K |
|
|
GBT
1754
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $3.14M | ﹤0.01% |
123,300
| – | – |
|
1755
FB Financial Corp
FBK
$3.13B
| $3.13M | ﹤0.01% |
72,883
| – | – |
|
1756
Pilgrim's Pride
PPC
$6.5B
| $3.12M | ﹤0.01% |
107,400
| – | – |
|
1757
Supernus Pharmaceuticals
SUPN
$2.74B
| $3.12M | ﹤0.01% |
117,100
+1,000
| +0.9% | +$26.8K |
|
1758
Northwest Natural Holdings
NWN
$2.14B
| $3.12M | ﹤0.01% |
67,800
+400
| +0.6% | +$20.4K |
|
1759
Eldorado Gold
EGO
$10.1B
| $3.12M | ﹤0.01% |
404,820
+18,100
| +5% | +$160K |
|
1760
Alamo Group
ALG
$2B
| $3.11M | ﹤0.01% |
22,300
| – | – |
|
1761
The Greenbrier Companies
GBX
$1.42B
| $3.11M | ﹤0.01% |
72,400
| – | – |
|
1762
James River Group Holdings
JRVR
$205M
| $3.11M | ﹤0.01% |
82,399
+2,500
| +3% | +$91.2K |
|
|
NNDM
1763
Nano Dimension
NNDM
$350M
| $3.1M | ﹤0.01% |
550,200
| – | – |
|
1764
Surgery Partners
SGRY
$2.01B
| $3.09M | ﹤0.01% |
72,900
+2,600
| +4% | +$133K |
|
|
DRNA
1765
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
| $3.08M | ﹤0.01% |
152,900
+4,000
| +3% | +$110K |
|
1766
TriMas Corp
TRS
$1.41B
| $3.08M | ﹤0.01% |
95,200
| – | – |
|
1767
Radware
RDWR
$1.24B
| $3.08M | ﹤0.01% |
91,300
-600
| -0.7% | -$19.8K |
|
1768
The Joint Corp
JYNT
$125M
| $3.08M | ﹤0.01% |
31,400
+200
| +0.6% | +$18.7K |
|
|
NXRT
1769
NexPoint Residential Trust
NXRT
$644M
| $3.08M | ﹤0.01% |
49,709
| – | – |
|
1770
Materion
MTRN
$5.91B
| $3.08M | ﹤0.01% |
44,800
| – | – |
|
|
BBT
1771
Beacon Financial Corp
BBT
$2.72B
| $3.05M | ﹤0.01% |
113,100
+1,100
| +1% | +$29.1K |
|
1772
ePlus
PLUS
$2.3B
| $3.05M | ﹤0.01% |
59,456
| – | – |
|
1773
Hudbay
HBM
$11.9B
| $3.05M | ﹤0.01% |
491,300
| – | – |
|
|
DCPH
1774
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $3.04M | ﹤0.01% |
89,600
+700
| +0.8% | +$22.3K |
|
|
MAG
1775
DELISTED
MAG Silver
MAG
| $3.04M | ﹤0.01% |
188,800
| – | – |
|
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.