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 | |
|---|---|---|---|---|---|---|
1451
Sarepta Therapeutics
SRPT
$1.68B
| $4.26M | ﹤0.01% |
195,983
| – | – |
|
1452
Hafnia
HAFN
$3.73B
| $4.25M | ﹤0.01% |
555,511
| – | – |
|
1453
Teradata
TDC
$2.8B
| $4.25M | ﹤0.01% |
165,859
-1,900
| -1% | -$55.5K |
|
1454
FMC
FMC
$1.39B
| $4.24M | ﹤0.01% |
246,300
| – | – |
|
1455
ADMA Biologics
ADMA
$1.97B
| $4.24M | ﹤0.01% |
470,600
| – | – |
|
1456
Helios Technologies
HLIO
$2.59B
| $4.23M | ﹤0.01% |
65,400
| – | – |
|
1457
Rush Street Interactive
RSI
$3.26B
| $4.22M | ﹤0.01% |
193,800
+5,900
| +3% | +$113K |
|
1458
ACM Research
ACMR
$5.53B
| $4.19M | ﹤0.01% |
106,600
+1,600
| +2% | +$84.9K |
|
1459
Vermilion Energy
VET
$1.62B
| $4.19M | ﹤0.01% |
304,567
| – | – |
|
1460
National Healthcare
NHC
$3.53B
| $4.17M | ﹤0.01% |
26,130
+200
| +0.8% | +$30.7K |
|
1461
SPS Commerce
SPSC
$2.41B
| $4.16M | ﹤0.01% |
74,800
| – | – |
|
1462
Ambarella
AMBA
$2.99B
| $4.16M | ﹤0.01% |
80,833
+800
| +1% | +$49.9K |
|
1463
Green Brick Partners
GRBK
$3.12B
| $4.16M | ﹤0.01% |
64,500
| – | – |
|
1464
RH
RH
$3.4B
| $4.16M | ﹤0.01% |
29,730
+200
| +0.7% | +$36.4K |
|
1465
Park Hotels & Resorts
PK
$3.03B
| $4.15M | ﹤0.01% |
394,197
| – | – |
|
1466
Capri Holdings
CPRI
$1.82B
| $4.14M | ﹤0.01% |
234,800
| – | – |
|
1467
Crane NXT
CXT
$3.12B
| $4.14M | ﹤0.01% |
101,900
| – | – |
|
1468
Dyne Therapeutics
DYN
$4.24B
| $4.14M | ﹤0.01% |
228,100
+5,600
| +3% | +$96.6K |
|
|
BELFB
1469
Bel Fuse Inc Class B
BELFB
$3.84B
| $4.12M | ﹤0.01% |
20,800
| – | – |
|
1470
PENN Entertainment
PENN
$2.83B
| $4.11M | ﹤0.01% |
273,384
| – | – |
|
1471
Banner Corp
BANR
$2.39B
| $4.09M | ﹤0.01% |
67,400
-800
| -1% | -$49.6K |
|
1472
Howard Hughes
HHH
$3.93B
| $4.08M | ﹤0.01% |
64,500
| – | – |
|
1473
Immunome
IMNM
$2.56B
| $4.05M | ﹤0.01% |
185,000
| – | – |
|
1474
Alarm.com
ALRM
$2.65B
| $4.04M | ﹤0.01% |
93,500
| – | – |
|
1475
Veeco
VECO
$2.96B
| $4.02M | ﹤0.01% |
118,621
| – | – |
|
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.