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 |
Berkshire Hathaway Class B
BRK.B
|
+$1.53B |
| 2 |
American Express
AXP
|
+$368M |
| 3 |
Capital One
COF
|
+$138M |
| 4 |
DFS
Discover Financial Services
DFS
|
+$98.1M |
| 5 |
Apollo Global Management
APO
|
+$96.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.04B |
| 2 |
Microsoft
MSFT
|
+$804M |
| 3 |
Amazon
AMZN
|
+$353M |
| 4 |
NVIDIA
NVDA
|
+$280M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$271M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.2% |
| 2 | Healthcare | 13.75% |
| 3 | Consumer Discretionary | 12.04% |
| 4 | Industrials | 9.24% |
| 5 | Communication Services | 8.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NTST
1801
NETSTREIT Corp
NTST
$2.08B
| $2.27M | ﹤0.01% |
126,800
+8,400
| +7% | +$151K |
|
1802
Dutch Bros
BROS
$8.93B
| $2.26M | ﹤0.01% |
79,600
+900
| +1% | +$26.7K |
|
|
HAPN
1803
Happen Inc
HAPN
$2.27B
| $2.26M | ﹤0.01% |
232,060
+5,300
| +2% | +$42.6K |
|
1804
Madison Square Garden
MSGE
$4.18B
| $2.26M | ﹤0.01% |
+67,259
| New | +$2.31M |
|
1805
Weis Markets
WMK
$1.78B
| $2.26M | ﹤0.01% |
35,200
+300
| +0.9% | +$21.8K |
|
1806
Portillo's
PTLO
$345M
| $2.26M | ﹤0.01% |
100,300
+900
| +0.9% | +$18.8K |
|
|
CIR
1807
DELISTED
CIRCOR International, Inc
CIR
| $2.26M | ﹤0.01% |
39,950
-1,800
| -4% | -$63.1K |
|
1808
GrafTech
EAF
$201M
| $2.25M | ﹤0.01% |
44,710
+400
| +0.9% | +$18.6K |
|
1809
Seaboard Corp
SEB
$4.02B
| $2.25M | ﹤0.01% |
632
+6
| +1% | +$22.8K |
|
|
LGF.B
1810
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $2.25M | ﹤0.01% |
269,194
+2,500
| +0.9% | +$24.6K |
|
1811
Westamerica Bancorp
WABC
$1.38B
| $2.24M | ﹤0.01% |
58,600
+500
| +0.9% | +$20K |
|
|
STEL
1812
DELISTED
Stellar Bancorp
STEL
| $2.24M | ﹤0.01% |
97,962
+2,000
| +2% | +$46.6K |
|
1813
AMERISAFE
AMSF
$517M
| $2.24M | ﹤0.01% |
42,000
+700
| +2% | +$37.3K |
|
1814
A10 Networks
ATEN
$2B
| $2.24M | ﹤0.01% |
153,200
+18,400
| +14% | +$266K |
|
|
ARR
1815
Armour Residential REIT
ARR
$2.37B
| $2.23M | ﹤0.01% |
83,822
+26,780
| +47% | +$683K |
|
1816
Tilray
TLRY
$640M
| $2.23M | ﹤0.01% |
143,194
+11,230
| +9% | +$241K |
|
1817
Astec Industries
ASTE
$994M
| $2.23M | ﹤0.01% |
49,100
| – | – |
|
1818
Empire State Realty Trust
ESRT
$817M
| $2.22M | ﹤0.01% |
296,900
+2,600
| +0.9% | +$16.4K |
|
1819
Treace Medical Concepts
TMCI
$309M
| $2.22M | ﹤0.01% |
86,800
+50,800
| +141% | +$1.31M |
|
1820
Cimpress
CMPR
$2.4B
| $2.21M | ﹤0.01% |
37,200
+400
| +1% | +$19.7K |
|
|
SASR
1821
DELISTED
Sandy Spring Bancorp Inc
SASR
| $2.21M | ﹤0.01% |
97,535
+1,200
| +1% | +$27.5K |
|
1822
Pilgrim's Pride
PPC
$6.4B
| $2.21M | ﹤0.01% |
102,900
+800
| +0.8% | +$18K |
|
1823
Monarch Casino & Resort
MCRI
$2.22B
| $2.2M | ﹤0.01% |
31,211
+500
| +2% | +$34.9K |
|
1824
Employers Holdings
EIG
$864M
| $2.2M | ﹤0.01% |
58,700
| – | – |
|
1825
Hope Bancorp
HOPE
$1.83B
| $2.19M | ﹤0.01% |
260,657
+2,700
| +1% | +$23.6K |
|
Similar funds
Swiss National Bank's Q2 2023 Portfolio in Review
As of Q2 2023, Swiss National Bank held 2,706 positions worth $147B, up 0.92% from $146B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Swiss National Bank withdrew a net $9.97B in Q2 2023, closing 106 positions and reducing 972 holdings. Its most notable exit was Shaw Communications Inc., an estimated $57.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Swiss National Bank opened a new position in Berkshire Hathaway Class B worth $1.6B.
- Swiss National Bank's largest Q2 2023 buy was Berkshire Hathaway Class B: 4,684,505 shares worth $1.6B.
- Swiss National Bank added most to Uber in Q2 2023, an estimated $22.7M increase.
- Swiss National Bank's biggest Q2 2023 reduction was Apple, cutting an estimated $1.04B.
- Swiss National Bank fully exited Shaw Communications Inc. in Q2 2023, selling an estimated $57.3M.
- Swiss National Bank's ten largest holdings make up 28% of its $147B portfolio in Q2 2023.
- Swiss National Bank opened 63 new positions and closed 106 in Q2 2023.
- Swiss National Bank's portfolio value rose 0.92% quarter-over-quarter to $147B.
Based on Swiss National Bank's 13F filing for Q2 2023, filed 9 Aug 2023.