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 | |
|---|---|---|---|---|---|---|
2451
TaskUs
TASK
$604M
| $422K | ﹤0.01% |
32,700
-3,500
| -10% | -$49.6K |
|
|
EWCZ
2452
DELISTED
European Wax Center
EWCZ
| $422K | ﹤0.01% |
62,100
| – | – |
|
2453
Genie Energy
GNE
$380M
| $413K | ﹤0.01% |
25,400
| – | – |
|
|
ITOS
2454
DELISTED
iTeos Therapeutics
ITOS
| $409K | ﹤0.01% |
40,100
-5,800
| -13% | -$88.5K |
|
2455
Custom Truck One Source
CTOS
$2.45B
| $405K | ﹤0.01% |
117,400
-3,900
| -3% | -$16.4K |
|
2456
Angi Inc
ANGI
$179M
| $362K | ﹤0.01% |
14,020
+640
| +5% | +$15.4K |
|
|
SHCO
2457
DELISTED
Soho House & Co
SHCO
| $360K | ﹤0.01% |
70,600
| – | – |
|
2458
Omega Flex
OFLX
$307M
| $349K | ﹤0.01% |
7,000
| – | – |
|
2459
Crawford & Co Class A
CRD.A
$638M
| $347K | ﹤0.01% |
31,600
| – | – |
|
2460
Lyell Immunopharma
LYEL
$353M
| $341K | ﹤0.01% |
12,370
| – | – |
|
|
EB
2461
DELISTED
Eventbrite
EB
| $336K | ﹤0.01% |
123,200
-36,100
| -23% | -$137K |
|
2462
Holley
HLLY
$376M
| $307K | ﹤0.01% |
104,000
| – | – |
|
|
NKLA
2463
DELISTED
Nikola Corporation Common Stock
NKLA
| $306K | ﹤0.01% |
66,830
-7,600
| -10% | -$56.3K |
|
|
SNCY
2464
DELISTED
Sun Country Airlines
SNCY
| $230K | ﹤0.01% |
20,500
-7,100
| -26% | -$80.1K |
|
2465
BRC Group Holdings
RILY
$293M
| $117K | ﹤0.01% |
22,300
-10,900
| -33% | -$121K |
|
2466
Alta Equipment Group
ALTG
$252M
| – | – |
-38,600
| Closed | -$310K |
|
2467
ALX Oncology
ALXO
$275M
| – | – |
-49,400
| Closed | -$298K |
|
2468
ATN International
ATNI
$479M
| – | – |
-21,500
| Closed | -$490K |
|
2469
Biomea Fusion
BMEA
$92.8M
| – | – |
-49,500
| Closed | -$223K |
|
2470
Cabaletta Bio
CABA
$461M
| – | – |
-66,500
| Closed | -$497K |
|
2471
Chegg
CHGG
$90.5M
| – | – |
-202,600
| Closed | -$640K |
|
2472
Cerence
CRNC
$383M
| – | – |
-81,350
| Closed | -$230K |
|
2473
GrafTech
EAF
$199M
| – | – |
-37,940
| Closed | -$368K |
|
2474
FuelCell Energy
FCEL
$1.69B
| – | – |
-29,800
| Closed | -$571K |
|
|
HLVX
2475
DELISTED
HilleVax
HLVX
| – | – |
-38,200
| Closed | -$552K |
|
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.