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 | |
|---|---|---|---|---|---|---|
2401
Seneca Foods Class A
SENEA
$1.26B
| $580K | ﹤0.01% |
9,300
-400
| -4% | -$24.2K |
|
2402
Liberty Latin America Class A
LILA
$1.7B
| $579K | ﹤0.01% |
88,909
-13,542
| -13% | -$88.6K |
|
2403
Theravance Biopharma
TBPH
$880M
| $578K | ﹤0.01% |
71,742
| – | – |
|
2404
Movado Group
MOV
$814M
| $575K | ﹤0.01% |
30,900
| – | – |
|
2405
Navitas Semiconductor
NVTS
$3.67B
| $570K | ﹤0.01% |
232,500
-14,200
| -6% | -$46.1K |
|
|
CRGX
2406
DELISTED
CARGO Therapeutics
CRGX
| $568K | ﹤0.01% |
30,800
+3,700
| +14% | +$66.2K |
|
2407
Xponential Fitness
XPOF
$209M
| $567K | ﹤0.01% |
45,700
| – | – |
|
2408
SIGA Technologies
SIGA
$205M
| $566K | ﹤0.01% |
83,900
| – | – |
|
2409
Titan Machinery
TITN
$431M
| $566K | ﹤0.01% |
40,600
| – | – |
|
2410
KRONOS Worldwide
KRO
$899M
| $565K | ﹤0.01% |
45,400
| – | – |
|
2411
Ranpak Holdings
PACK
$466M
| $564K | ﹤0.01% |
86,300
| – | – |
|
2412
Centuri Holdings
CTRI
$2.44B
| $559K | ﹤0.01% |
+34,600
| New | +$601K |
|
2413
Similarweb
SMWB
$726M
| $558K | ﹤0.01% |
63,074
+9,100
| +17% | +$71.9K |
|
|
VERV
2414
DELISTED
Verve Therapeutics
VERV
| $557K | ﹤0.01% |
115,100
| – | – |
|
2415
Bitdeer Technologies
BTDR
$2.49B
| $557K | ﹤0.01% |
+71,100
| New | +$590K |
|
|
NYAX
2416
Nayax
NYAX
$1.91B
| $553K | ﹤0.01% |
21,157
-3,756
| -15% | -$88.9K |
|
|
TIXT
2417
DELISTED
TELUS International
TIXT
| $551K | ﹤0.01% |
141,000
-8,000
| -5% | -$36K |
|
|
LAZR
2418
DELISTED
Luminar Technologies
LAZR
| $551K | ﹤0.01% |
40,820
+4,620
| +13% | +$83.8K |
|
2419
4D Molecular Therapeutics
FDMT
$608M
| $546K | ﹤0.01% |
50,500
-4,900
| -9% | -$81.3K |
|
2420
Target Hospitality
TH
$1.65B
| $545K | ﹤0.01% |
70,100
| – | – |
|
|
FNA
2421
DELISTED
Paragon 28, Inc.
FNA
| $544K | ﹤0.01% |
81,400
| – | – |
|
|
CLCO
2422
DELISTED
Cool Company
CLCO
| $540K | ﹤0.01% |
47,888
| – | – |
|
2423
Allient
ALNT
$1.94B
| $533K | ﹤0.01% |
28,054
| – | – |
|
2424
Mercer International
MERC
$33.1M
| $533K | ﹤0.01% |
78,672
| – | – |
|
2425
AMC Global Media
AMCX
$490M
| $525K | ﹤0.01% |
60,400
+3,400
| +6% | +$32.8K |
|
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.