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 |
AstraZeneca
AZN
|
+$1.19B |
| 2 |
NVIDIA
NVDA
|
+$867M |
| 3 |
Apple
AAPL
|
+$642M |
| 4 |
Microsoft
MSFT
|
+$574M |
| 5 |
Amazon
AMZN
|
+$426M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CYBR
CyberArk
CYBR
|
+$64.5M |
| 2 |
EXAS
Exact Sciences
EXAS
|
+$37.9M |
| 3 |
CMA
Comerica
CMA
|
+$21.9M |
| 4 |
Pinduoduo
PDD
|
+$18.9M |
| 5 |
FYBR
Frontier Communications
FYBR
|
+$18.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.51% |
| 2 | Healthcare | 10.85% |
| 3 | Consumer Discretionary | 10.77% |
| 4 | Communication Services | 10.52% |
| 5 | Industrials | 9.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
276
Sysco
SYY
$39.7B
| $100M | 0.06% |
1,405,300
+94,000
| +7% | +$7.77M |
|
277
Keurig Dr Pepper
KDP
$40.4B
| $99.7M | 0.06% |
3,787,671
+251,300
| +7% | +$7.04M |
|
278
Roblox
RBLX
$34B
| $97.8M | 0.06% |
1,729,700
+136,000
| +9% | +$9.13M |
|
279
Emcor
EME
$33.1B
| $97M | 0.06% |
131,340
+8,640
| +7% | +$6.29M |
|
280
Kenvue
KVUE
$37B
| $96.9M | 0.06% |
5,622,946
+364,000
| +7% | +$6.48M |
|
|
XYZ
281
Block Inc
XYZ
$45.9B
| $96.7M | 0.06% |
1,607,286
+101,300
| +7% | +$6.16M |
|
282
Halliburton
HAL
$27.9B
| $96.3M | 0.06% |
2,469,900
+133,500
| +6% | +$4.62M |
|
283
ResMed
RMD
$28.3B
| $96.2M | 0.06% |
428,380
+28,760
| +7% | +$7.17M |
|
284
Strategy Inc
MSTR
$33.5B
| $95.6M | 0.06% |
766,100
+50,720
| +7% | +$7.25M |
|
285
GE HealthCare
GEHC
$27.6B
| $95.2M | 0.05% |
1,336,987
+86,000
| +7% | +$6.78M |
|
286
Agilent Technologies
A
$39.1B
| $94.8M | 0.05% |
832,000
+55,300
| +7% | +$7.02M |
|
287
Fortis
FTS
$30B
| $94.8M | 0.05% |
1,701,282
+366,500
| +27% | +$20.1M |
|
288
Nu Holdings
NU
$68.1B
| $94.2M | 0.05% |
6,558,513
-859,100
| -12% | -$13.9M |
|
289
AngloGold Ashanti
AU
$40.3B
| $94.1M | 0.05% |
973,803
-127,541
| -12% | -$13.1M |
|
290
Kimberly-Clark
KMB
$36.4B
| $94M | 0.05% |
974,000
+64,900
| +7% | +$6.64M |
|
|
AXON
291
Axon Enterprise
AXON
$40.5B
| $93.4M | 0.05% |
220,020
+15,600
| +8% | +$8.11M |
|
292
Hewlett Packard
HPE
$63.2B
| $93.3M | 0.05% |
3,916,500
+300,800
| +8% | +$6.67M |
|
293
Ingersoll Rand
IR
$33B
| $92.9M | 0.05% |
1,159,480
+70,400
| +6% | +$6.22M |
|
294
Rocket Lab Corp
RKLB
$39.9B
| $90.6M | 0.05% |
1,410,930
+212,700
| +18% | +$16M |
|
295
Hershey
HSY
$35.4B
| $90.4M | 0.05% |
434,900
+29,000
| +7% | +$6.12M |
|
296
Copart
CPRT
$25.9B
| $89.6M | 0.05% |
2,698,800
+179,500
| +7% | +$6.74M |
|
297
Bloom Energy
BE
$52.6B
| $89.3M | 0.05% |
659,400
+50,200
| +8% | +$7.37M |
|
298
DTE Energy
DTE
$31.1B
| $89.1M | 0.05% |
609,500
+40,700
| +7% | +$5.72M |
|
299
Iron Mountain
IRM
$38.2B
| $88.6M | 0.05% |
867,461
+58,200
| +7% | +$5.79M |
|
300
Otis Worldwide
OTIS
$27.4B
| $88.2M | 0.05% |
1,143,643
+68,000
| +6% | +$5.95M |
|
Similar funds
Swiss National Bank's Q1 2026 Portfolio in Review
As of Q1 2026, Swiss National Bank held 2,355 positions worth $174B, up 3.4% from $168B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Swiss National Bank deployed $13.1B of net new capital in Q1 2026, opening 44 new positions and adding to 1,113 existing holdings. Its largest new stake was AstraZeneca: 6,174,666 shares worth $1.2B.
By sector, the portfolio is most concentrated in Technology at 34% of assets, down from 36% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Pinduoduo, an estimated $18.9M trimmed.
- Swiss National Bank's largest Q1 2026 buy was AstraZeneca: 6,174,666 shares worth $1.2B.
- Swiss National Bank added most to NVIDIA in Q1 2026, an estimated $867M increase.
- Swiss National Bank's biggest Q1 2026 reduction was Pinduoduo, cutting an estimated $18.9M.
- Swiss National Bank fully exited CyberArk in Q1 2026, selling an estimated $64.5M.
- Swiss National Bank's ten largest holdings make up 34% of its $174B portfolio in Q1 2026.
- Swiss National Bank opened 44 new positions and closed 54 in Q1 2026.
- Swiss National Bank's portfolio value rose 3.4% quarter-over-quarter to $174B.
Based on Swiss National Bank's 13F filing for Q1 2026, filed 7 May 2026.