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 | |
|---|---|---|---|---|---|---|
|
CFB
2076
DELISTED
CrossFirst Bankshares, Inc. Common Stock
CFB
| $1.37M | ﹤0.01% |
81,800
-5,600
| -6% | -$94.4K |
|
2077
Astec Industries
ASTE
$975M
| $1.36M | ﹤0.01% |
42,600
| – | – |
|
2078
Kelly Services Class A
KELYA
$566M
| $1.35M | ﹤0.01% |
63,200
| – | – |
|
2079
Horizon Bancorp
HBNC
$1.05B
| $1.35M | ﹤0.01% |
86,950
| – | – |
|
2080
Standard Motor Products
SMP
$870M
| $1.34M | ﹤0.01% |
40,500
-1,700
| -4% | -$53.1K |
|
|
BNT
2081
Brookfield Wealth Solutions
BNT
$12.3B
| $1.34M | ﹤0.01% |
37,650
| – | – |
|
|
SKE
2082
Skeena Resources
SKE
$4.07B
| $1.33M | ﹤0.01% |
+156,800
| New | +$1.13M |
|
2083
Eagle Bancorp
EGBN
$877M
| $1.33M | ﹤0.01% |
58,932
| – | – |
|
2084
Heartland Express
HTLD
$979M
| $1.33M | ﹤0.01% |
108,100
+14,700
| +16% | +$180K |
|
2085
Amplitude
AMPL
$1.66B
| $1.33M | ﹤0.01% |
147,800
| – | – |
|
|
ETWO
2086
DELISTED
E2open Parent Holdings
ETWO
| $1.33M | ﹤0.01% |
300,600
-31,700
| -10% | -$139K |
|
2087
Phathom Pharmaceuticals
PHAT
$743M
| $1.33M | ﹤0.01% |
73,300
+17,300
| +31% | +$242K |
|
2088
Matthews International
MATW
$722M
| $1.32M | ﹤0.01% |
57,096
| – | – |
|
|
DCBO
2089
Docebo
DCBO
$594M
| $1.32M | ﹤0.01% |
29,925
-300
| -1% | -$12.3K |
|
2090
Diebold Nixdorf
DBD
$2.45B
| $1.31M | ﹤0.01% |
29,400
+3,500
| +14% | +$145K |
|
2091
Repay Holdings
RPAY
$317M
| $1.31M | ﹤0.01% |
160,783
| – | – |
|
2092
Cogent Biosciences
COGT
$6.47B
| $1.31M | ﹤0.01% |
121,400
-2,600
| -2% | -$25.3K |
|
2093
Mercantile Bank Corp
MBWM
$1.06B
| $1.31M | ﹤0.01% |
29,900
-1,700
| -5% | -$75.1K |
|
2094
Old Second Bancorp
OSBC
$1.31B
| $1.3M | ﹤0.01% |
83,200
-4,800
| -5% | -$77.2K |
|
2095
Shenandoah Telecom
SHEN
$744M
| $1.29M | ﹤0.01% |
91,172
| – | – |
|
|
SWI
2096
DELISTED
SolarWinds Corporation Common Stock
SWI
| $1.29M | ﹤0.01% |
98,550
+1,200
| +1% | +$14.7K |
|
2097
Wave Life Sciences
WVE
$1.02B
| $1.28M | ﹤0.01% |
156,500
| – | – |
|
2098
ProPetro Holding
PUMP
$1.42B
| $1.28M | ﹤0.01% |
167,200
-12,700
| -7% | -$104K |
|
2099
ZipRecruiter
ZIP
$388M
| $1.28M | ﹤0.01% |
134,800
-8,500
| -6% | -$76.1K |
|
|
GOOD
2100
Gladstone Commercial Corp
GOOD
$641M
| $1.28M | ﹤0.01% |
78,700
| – | – |
|
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.