diff --git a/.changes/unreleased/Fixes-20241022-222927.yaml b/.changes/unreleased/Fixes-20241022-222927.yaml
new file mode 100644
index 00000000000..cd294862ba4
--- /dev/null
+++ b/.changes/unreleased/Fixes-20241022-222927.yaml
@@ -0,0 +1,6 @@
+kind: Fixes
+body: Implement partial parsing for all-yaml snapshots
+time: 2024-10-22T22:29:27.396378-04:00
+custom:
+  Author: gshank
+  Issue: "10903"
diff --git a/core/dbt/contracts/files.py b/core/dbt/contracts/files.py
index d5c1dba5366..15e951e026c 100644
--- a/core/dbt/contracts/files.py
+++ b/core/dbt/contracts/files.py
@@ -192,6 +192,7 @@ class SchemaSourceFile(BaseSourceFile):
     sources: List[str] = field(default_factory=list)
     exposures: List[str] = field(default_factory=list)
     metrics: List[str] = field(default_factory=list)
+    snapshots: List[str] = field(default_factory=list)
     # The following field will no longer be used. Leaving
     # here to avoid breaking existing projects. To be removed
     # later if possible.
diff --git a/core/dbt/contracts/graph/manifest.py b/core/dbt/contracts/graph/manifest.py
index 4ce887591d9..d387616a8ea 100644
--- a/core/dbt/contracts/graph/manifest.py
+++ b/core/dbt/contracts/graph/manifest.py
@@ -59,6 +59,7 @@
     SeedNode,
     SemanticModel,
     SingularTestNode,
+    SnapshotNode,
     SourceDefinition,
     UnitTestDefinition,
     UnitTestFileFixture,
@@ -1600,12 +1601,14 @@ def add_node(self, source_file: AnySourceFile, node: ManifestNode, test_from=Non
             if isinstance(node, GenericTestNode):
                 assert test_from
                 source_file.add_test(node.unique_id, test_from)
-            if isinstance(node, Metric):
+            elif isinstance(node, Metric):
                 source_file.metrics.append(node.unique_id)
-            if isinstance(node, Exposure):
+            elif isinstance(node, Exposure):
                 source_file.exposures.append(node.unique_id)
-            if isinstance(node, Group):
+            elif isinstance(node, Group):
                 source_file.groups.append(node.unique_id)
+            elif isinstance(node, SnapshotNode):
+                source_file.snapshots.append(node.unique_id)
         elif isinstance(source_file, FixtureSourceFile):
             pass
         else:
diff --git a/core/dbt/parser/partial.py b/core/dbt/parser/partial.py
index 774edf8ce6d..d4e20a617e1 100644
--- a/core/dbt/parser/partial.py
+++ b/core/dbt/parser/partial.py
@@ -658,10 +658,14 @@ def handle_schema_file_changes(self, schema_file, saved_yaml_dict, new_yaml_dict
             key_diff = self.get_diff_for(dict_key, saved_yaml_dict, new_yaml_dict)
             if key_diff["changed"]:
                 for elem in key_diff["changed"]:
+                    if dict_key == "snapshots" and "relation" in elem:
+                        self.delete_yaml_snapshot(schema_file, elem)
                     self.delete_schema_mssa_links(schema_file, dict_key, elem)
                     self.merge_patch(schema_file, dict_key, elem, True)
             if key_diff["deleted"]:
                 for elem in key_diff["deleted"]:
+                    if dict_key == "snapshots" and "relation" in elem:
+                        self.delete_yaml_snapshot(schema_file, elem)
                     self.delete_schema_mssa_links(schema_file, dict_key, elem)
             if key_diff["added"]:
                 for elem in key_diff["added"]:
@@ -673,6 +677,8 @@ def handle_schema_file_changes(self, schema_file, saved_yaml_dict, new_yaml_dict
                         continue
                     elem = self.get_schema_element(new_yaml_dict[dict_key], name)
                     if elem:
+                        if dict_key == "snapshots" and "relation" in elem:
+                            self.delete_yaml_snapshot(schema_file, elem)
                         self.delete_schema_mssa_links(schema_file, dict_key, elem)
                         self.merge_patch(schema_file, dict_key, elem, True)
 
@@ -828,6 +834,8 @@ def delete_schema_mssa_links(self, schema_file, dict_key, elem):
         # remove elem node and remove unique_id from node_patches
         for elem_unique_id in elem_unique_ids:
             # might have been already removed
+            # For all-yaml snapshots, we don't do this, since the node
+            # should have already been removed.
             if (
                 elem_unique_id in self.saved_manifest.nodes
                 or elem_unique_id in self.saved_manifest.disabled
@@ -868,6 +876,19 @@ def remove_tests(self, schema_file, dict_key, name):
                 self.saved_manifest.nodes.pop(test_unique_id)
         schema_file.remove_tests(dict_key, name)
 
+    def delete_yaml_snapshot(self, schema_file, snapshot_dict):
+        snapshot_name = snapshot_dict["name"]
+        snapshots = schema_file.snapshots.copy()
+        for unique_id in snapshots:
+            if unique_id in self.saved_manifest.nodes:
+                snapshot = self.saved_manifest.nodes[unique_id]
+                if snapshot.name == snapshot_name:
+                    self.saved_manifest.nodes.pop(unique_id)
+                    schema_file.snapshots.remove(unique_id)
+            elif unique_id in self.saved_manifest.disabled:
+                self.delete_disabled(unique_id, schema_file.file_id)
+                schema_file.snapshots.remove(unique_id)
+
     def delete_schema_source(self, schema_file, source_dict):
         # both patches, tests, and source nodes
         source_name = source_dict["name"]
diff --git a/core/dbt/parser/schemas.py b/core/dbt/parser/schemas.py
index 077d7083ed5..e0c94b8b444 100644
--- a/core/dbt/parser/schemas.py
+++ b/core/dbt/parser/schemas.py
@@ -309,8 +309,9 @@ def _add_yaml_snapshot_nodes_to_manifest(
                 snapshot_node.raw_code = "select * from {{ " + snapshot["relation"] + " }}"
 
                 # Add our new node to the manifest, and note that ref lookup collections
-                # will need to be rebuilt.
-                self.manifest.add_node_nofile(snapshot_node)
+                # will need to be rebuilt. This adds the node unique_id to the "snapshots"
+                # list in the SchemaSourceFile.
+                self.manifest.add_node(block.file, snapshot_node)
                 rebuild_refs = True
 
         if rebuild_refs:
diff --git a/tests/functional/snapshots/fixtures.py b/tests/functional/snapshots/fixtures.py
index 5b3182098d2..562fcb4b10f 100644
--- a/tests/functional/snapshots/fixtures.py
+++ b/tests/functional/snapshots/fixtures.py
@@ -292,7 +292,6 @@
 """
 
 snapshots_pg__snapshot_yml = """
-version: 2
 snapshots:
   - name: snapshot_actual
     relation: "ref('seed')"
@@ -304,6 +303,18 @@
         owner: 'a_owner'
 """
 
+snapshots_pg__snapshot_mod_yml = """
+snapshots:
+  - name: snapshot_actual
+    relation: "ref('seed')"
+    config:
+      unique_key: "id || '-' || first_name"
+      strategy: timestamp
+      updated_at: updated_at
+      meta:
+        owner: 'b_owner'
+"""
+
 snapshots_pg__snapshot_no_target_schema_sql = """
 {% snapshot snapshot_actual %}
 
diff --git a/tests/functional/snapshots/test_basic_snapshot.py b/tests/functional/snapshots/test_basic_snapshot.py
index b5a508b04a9..5300f921971 100644
--- a/tests/functional/snapshots/test_basic_snapshot.py
+++ b/tests/functional/snapshots/test_basic_snapshot.py
@@ -8,6 +8,7 @@
     check_relations_equal,
     relation_from_name,
     run_dbt,
+    update_config_file,
     write_file,
 )
 from tests.functional.snapshots.fixtures import (
@@ -18,6 +19,7 @@
     models__schema_yml,
     seeds__seed_csv,
     seeds__seed_newcol_csv,
+    snapshots_pg__snapshot_mod_yml,
     snapshots_pg__snapshot_no_target_schema_sql,
     snapshots_pg__snapshot_sql,
     snapshots_pg__snapshot_yml,
@@ -394,3 +396,34 @@ def models(self):
 class TestBasicSnapshotYaml(BasicYaml):
     def test_basic_snapshot_yaml(self, project):
         snapshot_setup(project, num_snapshot_models=1)
+
+
+class TestYamlSnapshotPartialParsing(BasicYaml):
+    def test_snapshot_partial_parsing(self, project):
+        manifest = run_dbt(["parse"])
+        snapshot_id = "snapshot.test.snapshot_actual"
+        assert snapshot_id in manifest.nodes
+        snapshot = manifest.nodes[snapshot_id]
+        assert snapshot.meta["owner"] == "a_owner"
+
+        # change snapshot yml file and re-parse
+        write_file(snapshots_pg__snapshot_mod_yml, "snapshots", "snapshot.yml")
+        manifest = run_dbt(["parse"])
+        snapshot = manifest.nodes[snapshot_id]
+        assert snapshot.meta["owner"] == "b_owner"
+
+        # modify dbt_project.yml and re-parse
+        config_updates = {
+            "snapshots": {
+                "test": {
+                    "+snapshot_meta_column_names": {
+                        "dbt_valid_to": "test_valid_to",
+                        "dbt_valid_from": "test_valid_from",
+                    },
+                }
+            }
+        }
+        update_config_file(config_updates, "dbt_project.yml")
+        manifest = run_dbt(["parse"])
+        snapshot = manifest.nodes[snapshot_id]
+        assert snapshot.config.snapshot_meta_column_names.dbt_valid_to == "test_valid_to"