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 | |
|---|---|---|---|---|---|---|
|
KREF
2051
KKR Real Estate Finance Trust
KREF
$502M
| $1.56M | ﹤0.01% |
127,800
+15,900
| +14% | +$179K |
|
2052
ProPetro Holding
PUMP
$1.42B
| $1.55M | ﹤0.01% |
188,100
+2,700
| +1% | +$19.8K |
|
2053
Koppers
KOP
$874M
| $1.54M | ﹤0.01% |
45,100
| – | – |
|
|
GOLD
2054
Gold.com Inc
GOLD
$1.27B
| $1.53M | ﹤0.01% |
41,000
+500
| +1% | +$18.1K |
|
|
UDMY
2055
DELISTED
Udemy
UDMY
| $1.53M | ﹤0.01% |
+142,400
| New | +$1.36M |
|
2056
Ardelyx
ARDX
$1.01B
| $1.52M | ﹤0.01% |
449,500
+85,300
| +23% | +$350K |
|
2057
Matsons
MATX
$6.39B
| $1.52M | ﹤0.01% |
19,600
-800
| -4% | -$54.8K |
|
|
DENN
2058
DELISTED
Denny's
DENN
| $1.52M | ﹤0.01% |
123,600
| – | – |
|
2059
TFS Financial
TFSL
$4.93B
| $1.52M | ﹤0.01% |
121,000
| – | – |
|
2060
Simulations Plus
SLP
$370M
| $1.52M | ﹤0.01% |
35,100
| – | – |
|
2061
Kymera Therapeutics
KYMR
$9.51B
| $1.52M | ﹤0.01% |
66,100
-10,900
| -14% | -$312K |
|
2062
Health Catalyst
HCAT
$132M
| $1.52M | ﹤0.01% |
121,500
+15,200
| +14% | +$181K |
|
|
NKLA
2063
DELISTED
Nikola Corporation Common Stock
NKLA
| $1.52M | ﹤0.01% |
36,657
+12,540
| +52% | +$346K |
|
2064
Bank First Corp
BFC
$1.76B
| $1.52M | ﹤0.01% |
18,217
+700
| +4% | +$52.4K |
|
|
AAMI
2065
Acadian Asset Management
AAMI
$3.31B
| $1.51M | ﹤0.01% |
72,226
+700
| +1% | +$15.6K |
|
|
IAS
2066
DELISTED
Integral Ad Science
IAS
| $1.51M | ﹤0.01% |
+84,100
| New | +$1.42M |
|
2067
Cytek Biosciences
CTKB
$636M
| $1.51M | ﹤0.01% |
176,900
+31,300
| +21% | +$281K |
|
2068
Triple Flag Precious Metals
TFPM
$6.45B
| $1.51M | ﹤0.01% |
109,465
| – | – |
|
|
HCCI
2069
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
| $1.5M | ﹤0.01% |
39,800
+5,900
| +17% | +$207K |
|
2070
Tompkins Financial
TMP
$1.45B
| $1.5M | ﹤0.01% |
27,000
-1,100
| -4% | -$63.2K |
|
2071
QCR Holdings
QCRH
$1.75B
| $1.5M | ﹤0.01% |
36,639
+2,000
| +6% | +$81.9K |
|
|
DCPH
2072
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $1.5M | ﹤0.01% |
106,700
-6,000
| -5% | -$85.8K |
|
|
INN
2073
Summit Hotel Properties
INN
$656M
| $1.5M | ﹤0.01% |
230,700
| – | – |
|
2074
Lifestance Health
LFST
$4.67B
| $1.5M | ﹤0.01% |
+163,900
| New | +$1.36M |
|
2075
Arcturus Therapeutics
ARCT
$223M
| $1.49M | ﹤0.01% |
52,100
+700
| +1% | +$19.1K |
|
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.