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 | |
|---|---|---|---|---|---|---|
1751
Brookdale Senior Living
BKD
$3.1B
| $2.43M | ﹤0.01% |
357,939
+6,200
| +2% | +$44.3K |
|
1752
Phreesia
PHR
$780M
| $2.43M | ﹤0.01% |
106,500
+2,200
| +2% | +$51.5K |
|
1753
Kornit Digital
KRNT
$758M
| $2.42M | ﹤0.01% |
93,800
-800
| -0.8% | -$14.7K |
|
|
PMT
1754
PennyMac Mortgage Investment
PMT
$827M
| $2.42M | ﹤0.01% |
169,600
-1,400
| -0.8% | -$19.5K |
|
1755
Xencor
XNCR
$1.72B
| $2.41M | ﹤0.01% |
120,000
+12,500
| +12% | +$235K |
|
1756
G-III Apparel Group
GIII
$1.41B
| $2.41M | ﹤0.01% |
79,000
-1,400
| -2% | -$38.3K |
|
1757
Utz Brands
UTZ
$1.25B
| $2.41M | ﹤0.01% |
135,900
| – | – |
|
1758
Nurix Therapeutics
NRIX
$2.76B
| $2.4M | ﹤0.01% |
106,900
+7,700
| +8% | +$174K |
|
1759
Wolfspeed
WOLF
$1.64B
| $2.4M | ﹤0.01% |
247,100
| – | – |
|
1760
Xerox
XRX
$412M
| $2.39M | ﹤0.01% |
230,400
-1,700
| -0.7% | -$18.2K |
|
1761
Employers Holdings
EIG
$864M
| $2.39M | ﹤0.01% |
49,800
| – | – |
|
1762
WisdomTree
WT
$3.44B
| $2.39M | ﹤0.01% |
238,900
| – | – |
|
|
SAFE
1763
Safehold
SAFE
$1.09B
| $2.38M | ﹤0.01% |
90,914
| – | – |
|
1764
Integra LifeSciences
IART
$1.35B
| $2.38M | ﹤0.01% |
131,094
| – | – |
|
1765
Matsons
MATX
$6.41B
| $2.38M | ﹤0.01% |
16,700
-300
| -2% | -$39.5K |
|
|
NTST
1766
NETSTREIT Corp
NTST
$2.08B
| $2.38M | ﹤0.01% |
144,000
| – | – |
|
1767
Cohu
COHU
$2.76B
| $2.38M | ﹤0.01% |
92,550
| – | – |
|
|
RC
1768
Ready Capital
RC
$289M
| $2.38M | ﹤0.01% |
311,656
-10,300
| -3% | -$87.3K |
|
|
KW
1769
DELISTED
Kennedy-Wilson Holdings
KW
| $2.37M | ﹤0.01% |
214,868
-4,900
| -2% | -$51.9K |
|
1770
Safety Insurance
SAFT
$1.52B
| $2.37M | ﹤0.01% |
29,000
-200
| -0.7% | -$16.4K |
|
1771
Agilon Health
AGL
$1.45B
| $2.37M | ﹤0.01% |
24,112
| – | – |
|
1772
CRA International
CRAI
$1.07B
| $2.37M | ﹤0.01% |
13,500
-200
| -1% | -$33.4K |
|
|
TPC
1773
Tutor Perini Cor
TPC
$5.05B
| $2.36M | ﹤0.01% |
87,000
| – | – |
|
1774
BW LPG
BWLP
$3.38B
| $2.36M | ﹤0.01% |
165,306
-1,171
| -0.7% | -$18.3K |
|
1775
Weis Markets
WMK
$1.78B
| $2.36M | ﹤0.01% |
34,200
-300
| -0.9% | -$20.4K |
|
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.