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Swiss National Bank
The Swiss National Bank (SNB) is the central bank of Switzerland, established in 1907 and headquartered in both Bern and Zurich. It is responsible for the nation’s monetary policy, including ensuring price stability and issuing Swiss franc banknotes. The SNB operates as a special joint-stock company with public (cantonal and cantonal bank) and private shareholders. As of recent reports, it employs approximately 900 staff, including economists and administrative professionals. The SNB serves the Swiss public interest, banks, and international financial markets through its activities in currency issuance, financial stability, and asset management.
Investment Strategy
The Swiss National Bank's investment strategy is primarily shaped by its monetary policy mandate. The SNB manages extensive foreign currency reserves, investing largely in government bonds, equities, and gold to maintain price stability and ensure effective monetary policy transmission. Its equity investments track broad market indices, and the institution excludes companies that violate fundamental human rights, produce internationally banned weapons, or systematically cause severe environmental damage. The SNB manages its portfolio to maintain liquidity, security, and return, balancing diversification and risk mitigation in accordance with central bank standards.
Latest 13F Filing Activity
Swiss National Bank filed their most recent 13F report on Jun 30, 2025 disclosing 2,303 equity positions with a total 13F market value of $167B. The fund increased holdings in Nvidia Corporation, Microsoft Corp., Broadcom Inc. among other positions. Swiss National Bank reduced exposure to Unitedhealth Group Inc., Discover Finl SVCS, Apple Inc. among others.
Top Holdings
Equity Positions (2,303)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 6.99% | $11.67B | 73,861,400 | $16.97 | $157.99 | +$4.18B |
M MSFT | MICROSOFT CORP | 6.37% | $10.63B | 21,378,070 | $140.51 | $497.41 | +$3.16B |
A AAPL | APPLE INC | 5.59% | $9.33B | 45,473,468 | $64.59 | $205.17 | -$91.4M |
A AMZN | AMAZON COM INC | 3.80% | $6.34B | 28,912,300 | $84.74 | $219.39 | +$1.26B |
M META | META PLATFORMS INC | 2.93% | $4.89B | 6,630,600 | $187.65 | $738.09 | +$1.35B |
Industry Allocation
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