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 | |
|---|---|---|---|---|---|---|
1476
Tenable Holdings
TENB
$3.58B
| $4M | ﹤0.01% |
236,200
-2,600
| -1% | -$54.6K |
|
|
OS
1477
DELISTED
OneStream Inc
OS
| $3.99M | ﹤0.01% |
166,100
+9,600
| +6% | +$225K |
|
1478
Privia Health
PRVA
$3.11B
| $3.98M | ﹤0.01% |
193,600
| – | – |
|
1479
Talos Energy
TALO
$2.36B
| $3.98M | ﹤0.01% |
252,300
-5,700
| -2% | -$73.2K |
|
1480
Benchmark Electronics
BHE
$2.86B
| $3.97M | ﹤0.01% |
70,900
| – | – |
|
1481
Extreme Networks
EXTR
$3.92B
| $3.97M | ﹤0.01% |
263,400
| – | – |
|
1482
Immunovant
IMVT
$8.23B
| $3.96M | ﹤0.01% |
159,400
+1,100
| +0.7% | +$28.5K |
|
1483
ePlus
PLUS
$2.33B
| $3.95M | ﹤0.01% |
52,556
| – | – |
|
1484
Liberty Global Class A
LBTYA
$3.35B
| $3.95M | ﹤0.01% |
326,600
| – | – |
|
1485
Enterprise Financial Services Corp
EFSC
$2.4B
| $3.95M | ﹤0.01% |
72,964
| – | – |
|
1486
Vishay Intertechnology
VSH
$5.7B
| $3.95M | ﹤0.01% |
219,200
| – | – |
|
1487
Dillards
DDS
$8.96B
| $3.94M | ﹤0.01% |
6,880
| – | – |
|
1488
Intuitive Machines
LUNR
$2.14B
| $3.92M | ﹤0.01% |
211,200
+2,200
| +1% | +$40.6K |
|
1489
Amprius Technologies
AMPX
$1.38B
| $3.92M | ﹤0.01% |
232,400
+10,400
| +5% | +$136K |
|
1490
Pathward Financial
CASH
$1.82B
| $3.92M | ﹤0.01% |
43,900
-1,100
| -2% | -$95.8K |
|
1491
Atkore
ATKR
$2.54B
| $3.91M | ﹤0.01% |
66,400
| – | – |
|
1492
Atlanta Braves Holdings Series B
BATRK
$3.25B
| $3.9M | ﹤0.01% |
91,336
| – | – |
|
1493
Insight Enterprises
NSIT
$3.71B
| $3.9M | ﹤0.01% |
58,200
-800
| -1% | -$65.4K |
|
1494
BioCryst Pharmaceuticals
BCRX
$2.43B
| $3.89M | ﹤0.01% |
408,668
+14,300
| +4% | +$111K |
|
1495
Universal Technical Institute
UTI
$2.12B
| $3.87M | ﹤0.01% |
107,300
| – | – |
|
1496
Strategic Education
STRA
$1.78B
| $3.85M | ﹤0.01% |
46,438
-800
| -2% | -$65.2K |
|
1497
Amneal Pharmaceuticals
AMRX
$5.78B
| $3.85M | ﹤0.01% |
309,600
| – | – |
|
1498
Kaiser Aluminum
KALU
$2.65B
| $3.84M | ﹤0.01% |
31,900
| – | – |
|
1499
National Vision
EYE
$1.66B
| $3.84M | ﹤0.01% |
148,400
| – | – |
|
1500
Lionsgate Studios
LION
$3.86B
| $3.83M | ﹤0.01% |
399,598
| – | – |
|
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.