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 | |
|---|---|---|---|---|---|---|
1851
Outset Medical
OM
$84.6M
| $2.11M | ﹤0.01% |
6,427
+520
| +9% | +$159K |
|
|
GOOS
1852
Canada Goose Holdings
GOOS
$844M
| $2.11M | ﹤0.01% |
118,300
| – | – |
|
|
JAMF
1853
DELISTED
Jamf
JAMF
| $2.11M | ﹤0.01% |
107,900
+29,300
| +37% | +$542K |
|
|
DCH
1854
Dauch Corp
DCH
$1.61B
| $2.1M | ﹤0.01% |
254,400
+7,100
| +3% | +$52.6K |
|
|
ETNB
1855
DELISTED
89bio
ETNB
| $2.1M | ﹤0.01% |
+111,000
| New | +$1.95M |
|
1856
PureCycle Technologies
PCT
$1.44B
| $2.1M | ﹤0.01% |
196,000
+19,500
| +11% | +$141K |
|
|
PACW
1857
DELISTED
PacWest Bancorp
PACW
| $2.1M | ﹤0.01% |
257,073
+2,800
| +1% | +$22.6K |
|
|
CCRN
1858
DELISTED
Cross Country Healthcare
CCRN
| $2.09M | ﹤0.01% |
74,600
-1,900
| -2% | -$47.2K |
|
1859
Recursion Pharmaceuticals
RXRX
$1.78B
| $2.09M | ﹤0.01% |
279,500
+161,900
| +138% | +$1.13M |
|
1860
Life Time Group Holdings
LTH
$9.79B
| $2.09M | ﹤0.01% |
106,000
+43,200
| +69% | +$826K |
|
1861
AdvanSix
ASIX
$427M
| $2.08M | ﹤0.01% |
59,500
| – | – |
|
1862
Hawkins
HWKN
$2.7B
| $2.08M | ﹤0.01% |
43,588
+2,800
| +7% | +$126K |
|
|
ESMT
1863
DELISTED
EngageSmart, Inc.
ESMT
| $2.08M | ﹤0.01% |
+108,800
| New | +$1.94M |
|
1864
Oscar Health
OSCR
$9.5B
| $2.07M | ﹤0.01% |
256,500
+159,600
| +165% | +$1.18M |
|
1865
Varex Imaging
VREX
$778M
| $2.06M | ﹤0.01% |
87,340
+800
| +0.9% | +$16.6K |
|
1866
Fortuna Silver Mines
FSM
$3.21B
| $2.06M | ﹤0.01% |
632,030
| – | – |
|
1867
Sabre
SABR
$831M
| $2.05M | ﹤0.01% |
643,800
-29,500
| -4% | -$107K |
|
1868
SI-BONE Inc
SIBN
$852M
| $2.05M | ﹤0.01% |
75,800
+12,500
| +20% | +$305K |
|
1869
Janus International
JBI
$664M
| $2.04M | ﹤0.01% |
191,600
+17,500
| +10% | +$164K |
|
|
SLCA
1870
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| $2.04M | ﹤0.01% |
167,800
+4,400
| +3% | +$54.4K |
|
1871
Sturm, Ruger & Co
RGR
$600M
| $2.02M | ﹤0.01% |
38,200
| – | – |
|
1872
Shenandoah Telecom
SHEN
$721M
| $2.02M | ﹤0.01% |
103,872
+1,100
| +1% | +$21.6K |
|
1873
OceanFirst Financial
OCFC
$1.85B
| $2.01M | ﹤0.01% |
128,833
+1,200
| +0.9% | +$18.7K |
|
|
CCF
1874
DELISTED
Chase Corporation
CCF
| $2.01M | ﹤0.01% |
16,600
-800
| -5% | -$91.9K |
|
1875
Opko Health
OPK
$1.04B
| $2.01M | ﹤0.01% |
925,255
-158,700
| -15% | -$248K |
|
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.