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 | |
|---|---|---|---|---|---|---|
2051
LegalZoom.com
LZ
$1.23B
| $1.31M | ﹤0.01% |
231,000
| – | – |
|
2052
Lindblad Expeditions
LIND
$1.76B
| $1.31M | ﹤0.01% |
75,641
| – | – |
|
2053
Annexon
ANNX
$855M
| $1.31M | ﹤0.01% |
+236,000
| New | +$1.33M |
|
2054
QuinStreet
QNST
$870M
| $1.29M | ﹤0.01% |
107,600
| – | – |
|
2055
uniQure
QURE
$2.68B
| $1.29M | ﹤0.01% |
79,000
| – | – |
|
2056
indie Semiconductor
INDI
$733M
| $1.29M | ﹤0.01% |
400,900
+9,400
| +2% | +$33.2K |
|
|
STKL
2057
DELISTED
SunOpta
STKL
| $1.29M | ﹤0.01% |
198,925
| – | – |
|
2058
Insteel Industries
IIIN
$633M
| $1.29M | ﹤0.01% |
38,300
+700
| +2% | +$24K |
|
2059
Heritage Insurance Holdings
HRTG
$842M
| $1.29M | ﹤0.01% |
49,000
| – | – |
|
|
NB
2060
NioCorp Developments
NB
$603M
| $1.28M | ﹤0.01% |
287,500
+66,300
| +30% | +$380K |
|
2061
Avanos Medical
AVNS
$1.17B
| $1.28M | ﹤0.01% |
91,500
| – | – |
|
2062
Atlas Energy Solutions
AESI
$1.49B
| $1.28M | ﹤0.01% |
97,600
| – | – |
|
2063
Arbutus Biopharma
ABUS
$865M
| $1.28M | ﹤0.01% |
283,400
| – | – |
|
2064
Pharvaris
PHVS
$2.39B
| $1.26M | ﹤0.01% |
44,757
| – | – |
|
|
CTLP
2065
DELISTED
Cantaloupe
CTLP
| $1.26M | ﹤0.01% |
116,700
-5,000
| -4% | -$52.8K |
|
2066
Accel Entertainment
ACEL
$979M
| $1.25M | ﹤0.01% |
114,800
| – | – |
|
2067
Washington Trust Bancorp
WASH
$732M
| $1.25M | ﹤0.01% |
37,300
| – | – |
|
2068
AMERISAFE
AMSF
$569M
| $1.25M | ﹤0.01% |
37,400
| – | – |
|
|
ADAM
2069
Adamas Trust
ADAM
$777M
| $1.25M | ﹤0.01% |
169,230
| – | – |
|
2070
Mission Produce
AVO
$1.1B
| $1.25M | ﹤0.01% |
90,500
| – | – |
|
|
SAFE
2071
Safehold
SAFE
$1.19B
| $1.24M | ﹤0.01% |
92,014
| – | – |
|
2072
Capital City Bank Group
CCBG
$882M
| $1.24M | ﹤0.01% |
28,600
| – | – |
|
2073
Amplitude
AMPL
$1.07B
| $1.24M | ﹤0.01% |
181,200
| – | – |
|
2074
Integra LifeSciences
IART
$1.54B
| $1.23M | ﹤0.01% |
130,694
| – | – |
|
2075
MetroCity Bankshares
MCBS
$1.05B
| $1.23M | ﹤0.01% |
42,862
+2,600
| +6% | +$73.4K |
|
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.