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 | |
|---|---|---|---|---|---|---|
1026
Camtek
CAMT
$6.55B
| $8.71M | 0.01% |
59,485
+1,085
| +2% | +$165K |
|
1027
MYR Group
MYRG
$5.31B
| $8.67M | 0.01% |
30,700
+100
| +0.3% | +$26K |
|
1028
Mirion Technologies
MIR
$4.1B
| $8.66M | 0.01% |
465,900
+1,700
| +0.4% | +$38.3K |
|
1029
Energy Fuels
UUUU
$2.82B
| $8.65M | 0.01% |
472,600
+15,700
| +3% | +$325K |
|
1030
Meritage Homes
MTH
$4.88B
| $8.61M | 0.01% |
139,200
-1,200
| -0.9% | -$84.8K |
|
1031
Laureate Education
LAUR
$5.27B
| $8.61M | 0.01% |
247,000
| – | – |
|
|
CSW
1032
CSW Industrials
CSW
$4.88B
| $8.6M | ﹤0.01% |
32,989
-160
| -0.5% | -$46.5K |
|
1033
AAR Corp
AIR
$5.62B
| $8.55M | ﹤0.01% |
78,100
| – | – |
|
1034
Telephone and Data Systems
TDS
$3.87B
| $8.55M | ﹤0.01% |
203,000
+700
| +0.3% | +$30.8K |
|
|
MRP
1035
Millrose Properties Inc
MRP
$4.74B
| $8.54M | ﹤0.01% |
305,086
+61,900
| +25% | +$1.86M |
|
1036
Campbell Soup
CPB
$6.82B
| $8.54M | ﹤0.01% |
383,400
+1,800
| +0.5% | +$46.2K |
|
1037
Crocs
CROX
$6.73B
| $8.53M | ﹤0.01% |
102,700
-5,000
| -5% | -$428K |
|
1038
Wingstop
WING
$3.64B
| $8.52M | ﹤0.01% |
54,980
-120
| -0.2% | -$28.8K |
|
1039
Brink's
BCO
$4.9B
| $8.52M | ﹤0.01% |
82,200
| – | – |
|
1040
Mueller Water Products
MWA
$4.05B
| $8.5M | ﹤0.01% |
309,300
+1,200
| +0.4% | +$33.3K |
|
1041
Post Holdings
POST
$4.27B
| $8.5M | ﹤0.01% |
86,000
+300
| +0.4% | +$30.6K |
|
1042
Associated Banc-Corp
ASB
$5.85B
| $8.49M | ﹤0.01% |
328,440
+1,500
| +0.5% | +$39.9K |
|
1043
Saic
SAIC
$5.15B
| $8.48M | ﹤0.01% |
89,315
-1,500
| -2% | -$147K |
|
1044
OSI Systems
OSIS
$3.64B
| $8.47M | ﹤0.01% |
31,900
+400
| +1% | +$111K |
|
1045
Option Care Health
OPCH
$3.53B
| $8.46M | ﹤0.01% |
314,100
-5,900
| -2% | -$192K |
|
1046
IES Holdings
IESC
$10.8B
| $8.45M | ﹤0.01% |
17,740
+80
| +0.5% | +$36.7K |
|
1047
SiriusXM
SIRI
$10.7B
| $8.43M | ﹤0.01% |
365,085
| – | – |
|
1048
Vornado Realty Trust
VNO
$7.55B
| $8.4M | ﹤0.01% |
323,017
+1,200
| +0.4% | +$35.5K |
|
1049
Opendoor
OPEN
$3.83B
| $8.39M | ﹤0.01% |
1,793,400
+7,500
| +0.4% | +$40.4K |
|
|
KRMN
1050
Karman Holdings
KRMN
$6.56B
| $8.36M | ﹤0.01% |
104,400
| – | – |
|
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.