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 | |
|---|---|---|---|---|---|---|
1576
LiveRamp
RAMP
$2.29B
| $3.34M | ﹤0.01% |
125,900
-3,600
| -3% | -$94.3K |
|
1577
BW LPG
BWLP
$3.31B
| $3.33M | ﹤0.01% |
189,510
| – | – |
|
1578
CorVel
CRVL
$3.05B
| $3.32M | ﹤0.01% |
60,800
| – | – |
|
1579
Worthington Enterprises
WOR
$2.76B
| $3.32M | ﹤0.01% |
63,700
| – | – |
|
|
SMA
1580
SmartStop Self Storage REIT
SMA
$1.92B
| $3.32M | ﹤0.01% |
109,500
+48,200
| +79% | +$1.55M |
|
1581
Sable Offshore Corp
SOC
$903M
| $3.3M | ﹤0.01% |
200,000
| – | – |
|
1582
Central Garden & Pet Co Class A
CENTA
$2.41B
| $3.3M | ﹤0.01% |
101,837
| – | – |
|
1583
Greif
GEF
$4.47B
| $3.29M | ﹤0.01% |
49,100
| – | – |
|
1584
A10 Networks
ATEN
$2.47B
| $3.29M | ﹤0.01% |
142,400
| – | – |
|
|
THR
1585
DELISTED
Thermon Group Holdings
THR
| $3.29M | ﹤0.01% |
65,200
| – | – |
|
1586
Ziff Davis
ZD
$1.9B
| $3.28M | ﹤0.01% |
78,131
-2,800
| -3% | -$103K |
|
1587
Innoviva
INVA
$1.58B
| $3.27M | ﹤0.01% |
140,500
+22,400
| +19% | +$483K |
|
1588
Edgewise Therapeutics
EWTX
$4.39B
| $3.27M | ﹤0.01% |
103,900
| – | – |
|
|
EFOR
1589
Everforth Inc
EFOR
$845M
| $3.27M | ﹤0.01% |
84,500
-1,900
| -2% | -$84.7K |
|
1590
Aurinia Pharmaceuticals
AUPH
$1.97B
| $3.27M | ﹤0.01% |
220,600
| – | – |
|
|
HAPN
1591
Happen Inc
HAPN
$2.08B
| $3.27M | ﹤0.01% |
228,160
+1,900
| +0.8% | +$31.8K |
|
1592
Hilltop Holdings
HTH
$2.29B
| $3.26M | ﹤0.01% |
91,000
-1,900
| -2% | -$69.7K |
|
1593
Rogers Corp
ROG
$2.33B
| $3.25M | ﹤0.01% |
30,300
| – | – |
|
1594
Seaboard Corp
SEB
$4.52B
| $3.25M | ﹤0.01% |
575
+10
| +2% | +$50.1K |
|
1595
Hillman Solutions
HLMN
$1.56B
| $3.24M | ﹤0.01% |
389,700
| – | – |
|
|
DMC
1596
Del Monte Corp
DMC
$1.35B
| $3.24M | ﹤0.01% |
80,400
| – | – |
|
1597
Spectrum Brands
SPB
$2.04B
| $3.24M | ﹤0.01% |
43,899
-1,300
| -3% | -$92.6K |
|
1598
Liberty Live Group Series A
LLYVA
$8.8B
| $3.23M | ﹤0.01% |
35,276
| – | – |
|
1599
Flowers Foods
FLO
$1.64B
| $3.22M | ﹤0.01% |
395,563
| – | – |
|
1600
The Greenbrier Companies
GBX
$1.61B
| $3.21M | ﹤0.01% |
61,000
| – | – |
|
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.