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 | |
|---|---|---|---|---|---|---|
1276
Towne Bank
TOWN
$3.45B
| $5.82M | ﹤0.01% |
172,915
+21,000
| +14% | +$729K |
|
1277
Graphic Packaging
GPK
$3.3B
| $5.81M | ﹤0.01% |
584,100
| – | – |
|
1278
Impinj
PI
$3.97B
| $5.8M | ﹤0.01% |
56,500
+1,900
| +3% | +$253K |
|
1279
Dianthus Therapeutics
DNTH
$5.71B
| $5.79M | ﹤0.01% |
69,000
+37,600
| +120% | +$2.18M |
|
1280
American States Water
AWR
$3.37B
| $5.78M | ﹤0.01% |
76,500
+500
| +0.7% | +$36.9K |
|
1281
First Interstate BancSystem
FIBK
$3.67B
| $5.78M | ﹤0.01% |
173,046
-2,800
| -2% | -$100K |
|
|
PSKY
1282
Paramount Skydance Corp
PSKY
$8.99B
| $5.74M | ﹤0.01% |
636,902
+7,100
| +1% | +$77.6K |
|
1283
First Financial Bancorp
FFBC
$3.52B
| $5.74M | ﹤0.01% |
206,043
| – | – |
|
1284
NMI Holdings
NMIH
$3.27B
| $5.74M | ﹤0.01% |
153,074
| – | – |
|
1285
Polaris
PII
$4.25B
| $5.74M | ﹤0.01% |
105,300
| – | – |
|
1286
IPG Photonics
IPGP
$3.81B
| $5.73M | ﹤0.01% |
50,000
| – | – |
|
1287
Hayward Holdings
HAYW
$3.16B
| $5.72M | ﹤0.01% |
427,300
| – | – |
|
1288
CG Oncology
CGON
$6.48B
| $5.71M | ﹤0.01% |
84,400
| – | – |
|
1289
Doximity
DOCS
$3.77B
| $5.7M | ﹤0.01% |
244,600
+2,500
| +1% | +$77.9K |
|
1290
Axcelis
ACLS
$3.94B
| $5.7M | ﹤0.01% |
61,200
| – | – |
|
1291
GitLab
GTLB
$5.55B
| $5.68M | ﹤0.01% |
262,400
| – | – |
|
|
CPRX
1292
DELISTED
Catalyst Pharmaceutical
CPRX
| $5.68M | ﹤0.01% |
229,300
| – | – |
|
1293
Freshpet
FRPT
$2.92B
| $5.67M | ﹤0.01% |
96,250
| – | – |
|
1294
Choice Hotels
CHH
$5.15B
| $5.67M | ﹤0.01% |
54,767
| – | – |
|
1295
Marathon Digital Holdings
MARA
$4.49B
| $5.66M | ﹤0.01% |
693,900
| – | – |
|
1296
Twist Bioscience
TWST
$5.39B
| $5.65M | ﹤0.01% |
119,000
| – | – |
|
1297
Prestige Consumer Healthcare
PBH
$2.39B
| $5.64M | ﹤0.01% |
95,200
-1,900
| -2% | -$123K |
|
|
MZTI
1298
The Marzetti Company
MZTI
$2.95B
| $5.63M | ﹤0.01% |
40,726
| – | – |
|
1299
BOK Financial
BOKF
$8.58B
| $5.63M | ﹤0.01% |
43,974
| – | – |
|
1300
Yeti Holdings
YETI
$3.86B
| $5.63M | ﹤0.01% |
153,900
-6,300
| -4% | -$277K |
|
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.