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 | |
|---|---|---|---|---|---|---|
1826
RLJ Lodging Trust
RLJ
$1.66B
| $2.12M | ﹤0.01% |
294,058
+4,100
| +1% | +$30.9K |
|
1827
Empire State Realty Trust
ESRT
$817M
| $2.11M | ﹤0.01% |
276,000
+5,800
| +2% | +$44.3K |
|
1828
Innoviva
INVA
$1.5B
| $2.11M | ﹤0.01% |
115,600
+1,700
| +1% | +$33.1K |
|
1829
LGI Homes
LGIH
$1.32B
| $2.11M | ﹤0.01% |
40,781
+600
| +1% | +$35K |
|
1830
Sonic Automotive
SAH
$2.56B
| $2.1M | ﹤0.01% |
27,600
+500
| +2% | +$39.9K |
|
1831
Rapid7
RPD
$827M
| $2.1M | ﹤0.01% |
112,000
+2,000
| +2% | +$42.2K |
|
1832
Ivanhoe Electric
IE
$1.7B
| $2.1M | ﹤0.01% |
167,100
+2,500
| +2% | +$24.7K |
|
1833
Red Cat Holdings
RCAT
$1.58B
| $2.09M | ﹤0.01% |
+202,200
| New | +$1.89M |
|
1834
Limbach Holdings
LMB
$536M
| $2.08M | ﹤0.01% |
21,400
+1,900
| +10% | +$229K |
|
|
CIM
1835
Chimera Investment
CIM
$991M
| $2.08M | ﹤0.01% |
157,027
+2,500
| +2% | +$34.8K |
|
1836
Peoples Bancorp
PEBO
$1.48B
| $2.07M | ﹤0.01% |
69,100
+1,000
| +1% | +$30.3K |
|
|
AIV
1837
Aimco
AIV
$379M
| $2.07M | ﹤0.01% |
260,984
+3,300
| +1% | +$26.8K |
|
1838
Preferred Bank
PFBC
$1.26B
| $2.07M | ﹤0.01% |
22,889
-1,000
| -4% | -$92.7K |
|
|
PMT
1839
PennyMac Mortgage Investment
PMT
$827M
| $2.07M | ﹤0.01% |
168,700
+2,800
| +2% | +$34.6K |
|
1840
Seaboard Corp
SEB
$4.02B
| $2.06M | ﹤0.01% |
565
+9
| +2% | +$31.3K |
|
1841
Driven Brands
DRVN
$2.05B
| $2.05M | ﹤0.01% |
127,300
+1,800
| +1% | +$31.4K |
|
1842
Gentherm
THRM
$1.27B
| $2.04M | ﹤0.01% |
59,900
+1,100
| +2% | +$37.2K |
|
1843
Safety Insurance
SAFT
$1.52B
| $2.04M | ﹤0.01% |
28,800
+400
| +1% | +$29.1K |
|
|
HPP
1844
Hudson Pacific Properties
HPP
$777M
| $2.03M | ﹤0.01% |
+105,014
| New | +$1.98M |
|
1845
UWM Holdings
UWMC
$2.42B
| $2.02M | ﹤0.01% |
332,000
+25,000
| +8% | +$131K |
|
1846
NextNav
NN
$2.62B
| $2.02M | ﹤0.01% |
141,200
+2,400
| +2% | +$37.9K |
|
1847
Cadre Holdings
CDRE
$1.44B
| $2.02M | ﹤0.01% |
55,200
+900
| +2% | +$29K |
|
1848
Liberty Broadband Class A
LBRDA
$5.07B
| $2.01M | ﹤0.01% |
31,800
+400
| +1% | +$27.8K |
|
1849
Navitas Semiconductor
NVTS
$3.64B
| $2.01M | ﹤0.01% |
+278,800
| New | +$1.87M |
|
1850
National Beverage
FIZZ
$2.9B
| $2.01M | ﹤0.01% |
54,500
+900
| +2% | +$39K |
|
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.