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 |
Synopsys
SNPS
|
+$37.5M |
| 2 |
SoFi Technologies
SOFI
|
+$28.4M |
| 3 |
Rocket Lab Corp
RKLB
|
+$22.8M |
| 4 |
Affirm
AFRM
|
+$22.2M |
| 5 |
Tapestry
TPR
|
+$21.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$615M |
| 2 |
Apple
AAPL
|
+$547M |
| 3 |
Microsoft
MSFT
|
+$522M |
| 4 |
Amazon
AMZN
|
+$310M |
| 5 |
Meta Platforms (Facebook)
META
|
+$277M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.17% |
| 2 | Consumer Discretionary | 11.83% |
| 3 | Communication Services | 10.74% |
| 4 | Healthcare | 9.6% |
| 5 | Industrials | 9.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1351
Oceaneering
OII
$5.1B
| $4.83M | ﹤0.01% |
194,948
+1,900
| +1% | +$43.6K |
|
1352
Hilton Grand Vacations
HGV
$3.48B
| $4.83M | ﹤0.01% |
115,460
-2,000
| -2% | -$92.1K |
|
1353
Denison Mines
DNN
$2.98B
| $4.83M | ﹤0.01% |
1,752,700
+29,300
| +2% | +$64.8K |
|
1354
DXC Technology
DXC
$1.72B
| $4.8M | ﹤0.01% |
352,500
+6,500
| +2% | +$92.3K |
|
1355
CVB Financial
CVBF
$4.07B
| $4.8M | ﹤0.01% |
253,800
+1,300
| +0.5% | +$25.9K |
|
1356
Diodes
DIOD
$4.47B
| $4.78M | ﹤0.01% |
89,900
+1,200
| +1% | +$64.3K |
|
1357
Sotera Health
SHC
$5.4B
| $4.76M | ﹤0.01% |
302,600
+4,200
| +1% | +$59K |
|
1358
Four Corners Property Trust
FCPT
$2.76B
| $4.75M | ﹤0.01% |
194,707
+3,800
| +2% | +$98.1K |
|
1359
Warby Parker
WRBY
$3.22B
| $4.75M | ﹤0.01% |
172,200
+13,300
| +8% | +$336K |
|
1360
Innodata
INOD
$2.01B
| $4.75M | ﹤0.01% |
61,600
+1,600
| +3% | +$80.8K |
|
1361
WaFd
WAFD
$2.8B
| $4.72M | ﹤0.01% |
155,726
| – | – |
|
1362
Steven Madden
SHOO
$3.47B
| $4.71M | ﹤0.01% |
140,825
+2,200
| +2% | +$61.7K |
|
1363
Privia Health
PRVA
$2.76B
| $4.71M | ﹤0.01% |
189,100
+3,200
| +2% | +$68.9K |
|
1364
Green Brick Partners
GRBK
$3.03B
| $4.7M | ﹤0.01% |
63,700
| – | – |
|
1365
Alignment Healthcare
ALHC
$2.82B
| $4.69M | ﹤0.01% |
268,500
+67,000
| +33% | +$993K |
|
1366
First Financial Bancorp
FFBC
$3.6B
| $4.68M | ﹤0.01% |
185,543
+3,300
| +2% | +$83.6K |
|
|
CON
1367
Concentra Group Holdings
CON
$4.46B
| $4.68M | ﹤0.01% |
223,635
+3,300
| +1% | +$70.4K |
|
1368
Xometry
XMTR
$5.46B
| $4.67M | ﹤0.01% |
85,800
+1,900
| +2% | +$82.4K |
|
1369
Plug Power
PLUG
$3.21B
| $4.67M | ﹤0.01% |
2,002,388
+350,900
| +21% | +$595K |
|
1370
Indivior Pharmaceuticals
INDV
$4.52B
| $4.66M | ﹤0.01% |
193,431
+2,900
| +2% | +$60.7K |
|
|
PPLI
1371
People Inc
PPLI
$3B
| $4.65M | ﹤0.01% |
136,400
+1,500
| +1% | +$56K |
|
1372
Provident Financial Services
PFS
$3.25B
| $4.64M | ﹤0.01% |
240,629
+3,800
| +2% | +$72.5K |
|
1373
CorVel
CRVL
$3.21B
| $4.64M | ﹤0.01% |
59,900
+1,000
| +2% | +$89.2K |
|
1374
Kymera Therapeutics
KYMR
$9.44B
| $4.62M | ﹤0.01% |
81,600
+7,200
| +10% | +$325K |
|
1375
Levi Strauss
LEVI
$8.67B
| $4.6M | ﹤0.01% |
197,400
+17,600
| +10% | +$374K |
|
Similar funds
Swiss National Bank's Q3 2025 Portfolio in Review
As of Q3 2025, Swiss National Bank held 2,371 positions worth $172B, up 3.2% from $167B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Swiss National Bank withdrew a net $7.69B in Q3 2025, closing 56 positions and reducing 729 holdings. Its most notable exit was Hess, an estimated $123M position sold in full.
By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 35% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Swiss National Bank opened a new position in Paramount Skydance Corp worth $11.7M.
- Swiss National Bank's largest Q3 2025 buy was Paramount Skydance Corp: 619,202 shares worth $11.7M.
- Swiss National Bank added most to Synopsys in Q3 2025, an estimated $37.5M increase.
- Swiss National Bank's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $615M.
- Swiss National Bank fully exited Hess in Q3 2025, selling an estimated $123M.
- Swiss National Bank's ten largest holdings make up 36% of its $172B portfolio in Q3 2025.
- Swiss National Bank opened 39 new positions and closed 56 in Q3 2025.
- Swiss National Bank's portfolio value rose 3.2% quarter-over-quarter to $172B.
Based on Swiss National Bank's 13F filing for Q3 2025, filed 13 Nov 2025.