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 |
Visa
V
|
+$53.6M |
| 2 |
Strategy Inc
MSTR
|
+$39M |
| 3 |
International Paper
IP
|
+$25.9M |
| 4 |
DoorDash
DASH
|
+$22.6M |
| 5 |
United Airlines
UAL
|
+$21.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chevron
CVX
|
+$712M |
| 2 |
Apple
AAPL
|
+$125M |
| 3 |
Interactive Brokers
IBKR
|
+$38.1M |
| 4 |
NVIDIA
NVDA
|
+$28.5M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$27.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.44% |
| 2 | Healthcare | 11.83% |
| 3 | Consumer Discretionary | 11.73% |
| 4 | Communication Services | 9.55% |
| 5 | Industrials | 9.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1251
Burford Capital
BUR
$971M
| $5.06M | ﹤0.01% |
382,599
-5,091
| -1% | -$71.5K |
|
1252
Leonardo DRS
DRS
$12.1B
| $5.05M | ﹤0.01% |
153,700
-1,900
| -1% | -$62.7K |
|
|
CPRX
1253
DELISTED
Catalyst Pharmaceutical
CPRX
| $5.04M | ﹤0.01% |
207,900
-2,200
| -1% | -$49.5K |
|
1254
Resideo Technologies
REZI
$3.08B
| $5.04M | ﹤0.01% |
284,700
-3,200
| -1% | -$65.7K |
|
1255
Huntsman Corp
HUN
$1.79B
| $5.03M | ﹤0.01% |
318,374
-3,600
| -1% | -$61.2K |
|
1256
Pilgrim's Pride
PPC
$6.59B
| $5.01M | ﹤0.01% |
91,900
-1,400
| -2% | -$70K |
|
1257
Sweetgreen
SG
$724M
| $5.01M | ﹤0.01% |
200,200
| – | – |
|
1258
Newell Brands
NWL
$2.61B
| $5M | ﹤0.01% |
806,042
-12,100
| -1% | -$97.1K |
|
1259
Helmerich & Payne
HP
$4.46B
| $5M | ﹤0.01% |
191,300
-3,000
| -2% | -$87.2K |
|
1260
Hilton Grand Vacations
HGV
$3.54B
| $5M | ﹤0.01% |
133,560
-6,200
| -4% | -$247K |
|
1261
CVB Financial
CVBF
$4.1B
| $5M | ﹤0.01% |
270,600
-4,100
| -1% | -$81.7K |
|
1262
Simmons First National
SFNC
$3.46B
| $4.99M | ﹤0.01% |
243,286
-3,700
| -1% | -$80.3K |
|
1263
Bankunited
BKU
$3.44B
| $4.99M | ﹤0.01% |
144,900
-2,200
| -1% | -$83K |
|
|
GTM
1264
ZoomInfo Technologies
GTM
$1.22B
| $4.99M | ﹤0.01% |
498,900
-4,000
| -0.8% | -$41.9K |
|
|
WAY
1265
Waystar Holding Corp
WAY
$4.78B
| $4.98M | ﹤0.01% |
133,400
+51,400
| +63% | +$2.03M |
|
1266
BlackLine
BL
$1.78B
| $4.98M | ﹤0.01% |
102,900
-1,100
| -1% | -$60.2K |
|
|
NUVL
1267
DELISTED
Nuvalent
NUVL
| $4.96M | ﹤0.01% |
69,900
-500
| -0.7% | -$39.1K |
|
1268
TriNet
TNET
$3.16B
| $4.95M | ﹤0.01% |
62,500
-1,000
| -2% | -$83K |
|
1269
Synaptics
SYNA
$4.24B
| $4.94M | ﹤0.01% |
77,600
-900
| -1% | -$65.2K |
|
1270
LXP Industrial Trust
LXP
$3.57B
| $4.94M | ﹤0.01% |
114,120
-1,660
| -1% | -$71.2K |
|
1271
Huron Consulting
HURN
$2.45B
| $4.93M | ﹤0.01% |
34,400
-600
| -2% | -$80.7K |
|
1272
Wendy's
WEN
$1.65B
| $4.91M | ﹤0.01% |
335,700
-4,600
| -1% | -$69.2K |
|
1273
Enova International
ENVA
$6.62B
| $4.91M | ﹤0.01% |
50,800
-1,100
| -2% | -$113K |
|
1274
Alight
ALIT
$379M
| $4.89M | ﹤0.01% |
41,270
-850
| -2% | -$112K |
|
1275
Signet Jewelers
SIG
$3.51B
| $4.89M | ﹤0.01% |
84,300
-2,400
| -3% | -$137K |
|
Similar funds
Swiss National Bank's Q1 2025 Portfolio in Review
As of Q1 2025, Swiss National Bank held 2,478 positions worth $142B, down 5.8% from $150B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Trading was light in Q1 2025: portfolio turnover was 4.8%. Swiss National Bank opened 38 new positions and exited 81, leaving the 2,478-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 34% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Swiss National Bank's largest Q1 2025 buy was United Airlines: 231,900 shares worth $16M.
- Swiss National Bank added most to Visa in Q1 2025, an estimated $53.6M increase.
- Swiss National Bank's biggest Q1 2025 reduction was Apple, cutting an estimated $125M.
- Swiss National Bank fully exited Chevron in Q1 2025, selling an estimated $712M.
- Swiss National Bank's ten largest holdings make up 31% of its $142B portfolio in Q1 2025.
- Swiss National Bank opened 38 new positions and closed 81 in Q1 2025.
- Swiss National Bank's portfolio value fell 5.8% quarter-over-quarter to $142B.
Based on Swiss National Bank's 13F filing for Q1 2025, filed 12 May 2025.