Swiss National Bank
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Swiss National Bank reported 2,397 stock positions worth $141.6 billion. Its top holding was Apple (AAPL) at 6.7% of the portfolio, followed by Nvidia (NVDA, 5.3%) and Microsoft (MSFT, 5.3%). Compared with Q4 2024, it opened 36 new positions, sold out of 81, added to 386 and reduced 1,670. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +0%) and the biggest sale Nvidia (NVDA, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001582202
- Portfolio Value
- $141.6B (Q1 2025)
- SEC Filing
- 0001582202-25-000004 ↗ filed May 12, 2025
Holdings Value
Holdings 2,397 stocks · $141.6B
| AAPL Apple Inc. | 6.65% | 42,412,968 | $9.4B | Reduce -1.3% |
| NVDA Nvidia Corp. | 5.29% | 69,071,500 | $7.5B | Reduce -0.3% |
| MSFT Microsoft Corp. | 5.28% | 19,920,970 | $7.5B | Reduce -0.1% |
| AMZN Amazon.com Inc. | 3.59% | 26,690,800 | $5.1B | Add +0.0% |
| META Meta Platforms Inc. Class A | 2.50% | 6,149,000 | $3.5B | Reduce -0.4% |
| GOOGL Alphabet Inc. Class A | 1.80% | 16,479,500 | $2.5B | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 1.55% | 14,047,300 | $2.2B | Reduce -1.1% |
| TSLA Tesla Inc. | 1.49% | 8,148,475 | $2.1B | Add +0.3% |
| AVGO Broadcom Inc. | 1.49% | 12,559,130 | $2.1B | Add +0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.41% | 3,753,505 | $2.0B | Add +0.3% |
| LLY Eli Lilly & Co. | 1.33% | 2,275,790 | $1.9B | Reduce -0.3% |
| V Visa Inc. Class A | 1.21% | 4,877,500 | $1.7B | Add +3.4% |
| XOM Exxon Mobil Corp. | 1.04% | 12,395,818 | $1.5B | Reduce -1.3% |
| UNH Unitedhealth Group Inc. | 0.96% | 2,595,561 | $1.4B | Reduce -0.5% |
| MA Mastercard Inc. Class A | 0.90% | 2,311,800 | $1.3B | Reduce -0.8% |
| COST Costco Wholesale Corp. | 0.84% | 1,252,000 | $1.2B | Add +0.0% |
| PG The Procter & Gamble Co. | 0.80% | 6,642,390 | $1.1B | Add +0.1% |
| JNJ Johnson & Johnson | 0.80% | 6,790,707 | $1.1B | Reduce -0.1% |
| NFLX Netflix Inc. | 0.79% | 1,205,600 | $1.1B | Reduce -0.6% |
| WMT Walmart Inc. | 0.77% | 12,461,500 | $1.1B | Reduce -0.2% |
| ABBV Abbvie Inc. | 0.74% | 4,984,010 | $1.0B | Reduce -0.1% |
| HD Home Depot Inc. | 0.73% | 2,801,700 | $1.0B | Reduce -0.2% |
| KO The Coca-Cola Co. | 0.58% | 11,542,100 | $826.6M | Reduce -0.2% |
| CRM Salesforce Inc. | 0.51% | 2,699,077 | $724.3M | Reduce -0.1% |
| PM Philip Morris International | 0.49% | 4,385,200 | $696.1M | Reduce -0.2% |
| CSCO Cisco Systems Inc. | 0.49% | 11,232,800 | $693.2M | Reduce -0.4% |
| ORCL Oracle Corp. | 0.47% | 4,733,200 | $661.7M | Add +0.8% |
| ABT Abbott Laboratories | 0.46% | 4,891,780 | $648.9M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.46% | 2,607,900 | $648.5M | Add +0.2% |
| MRK Merck & Co. Inc. | 0.45% | 7,134,851 | $640.4M | Reduce -0.4% |
| MCD McDonald's Corp. | 0.45% | 2,021,200 | $631.4M | Reduce -0.3% |
| LIN Linde PLC | 0.44% | 1,342,901 | $625.3M | Reduce -0.5% |
| GE General Electric filed as GE AEROSPACE | 0.43% | 3,052,562 | $611.0M | Reduce -0.3% |
| PEP Pepsico Inc. | 0.41% | 3,869,500 | $580.2M | Reduce -0.2% |
| T AT&T Inc. | 0.40% | 20,237,284 | $572.3M | Reduce -0.1% |
| ACN Accenture PLC Class A | 0.39% | 1,764,100 | $550.5M | Reduce -0.1% |
| VZ Verizon Communications Inc. | 0.38% | 11,872,698 | $538.5M | Reduce -0.2% |
| TMO Thermo Fisher Scientific Inc. | 0.38% | 1,078,700 | $536.8M | Reduce -0.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.36% | 5,107,525 | $504.1M | Reduce -0.3% |
| PLTR Palantir Technologies Inc. Class A | 0.35% | 5,934,700 | $500.9M | Add +3.2% |
| ISRG Intuitive Surgical Inc. | 0.35% | 1,004,600 | $497.5M | Add +0.1% |
| RTX RTX Corp. | 0.35% | 3,753,981 | $497.3M | Reduce -0.1% |
| INTU Intuit Inc. | 0.34% | 789,400 | $484.7M | Reduce -0.3% |
| QCOM Qualcomm Inc. | 0.34% | 3,133,500 | $481.3M | Reduce -0.4% |
| AMGN Amgen Inc. | 0.33% | 1,516,033 | $472.3M | Reduce -0.1% |
| ADBE Adobe Inc. | 0.33% | 1,227,700 | $470.9M | Reduce -1.3% |
| AMD Advanced Micro Devices | 0.33% | 4,576,975 | $470.2M | Add +0.1% |
| PGR Progressive Corp. | 0.33% | 1,652,200 | $467.6M | Reduce -0.1% |
| NOW ServiceNow Inc. | 0.33% | 581,000 | $462.6M | Reduce -0.1% |
| TXN Texas Instruments Inc. | 0.33% | 2,572,800 | $462.3M | Reduce -0.3% |
| CAT Caterpillar Inc. | 0.32% | 1,361,600 | $449.1M | Reduce -0.6% |
| BKNG Booking Holdings Inc. | 0.30% | 93,384 | $430.2M | Reduce -1.5% |
| AXP American Express Co. | 0.30% | 1,589,379 | $427.6M | Reduce -1.1% |
| BSX Boston Scientific Corp. | 0.30% | 4,156,800 | $419.3M | Reduce -0.1% |
| NEE Nextera Energy Inc. | 0.29% | 5,800,100 | $411.2M | Reduce -0.1% |
| PFE Pfizer Inc. | 0.29% | 15,983,012 | $405.0M | Reduce -0.2% |
| UNP Union Pacific Corp. | 0.29% | 1,709,900 | $403.9M | Reduce -0.6% |
| CMCSA Comcast Corp. Class A | 0.28% | 10,765,600 | $397.3M | Reduce -1.4% |
| GILD Gilead Sciences Inc. | 0.28% | 3,515,000 | $393.9M | Reduce -0.1% |
| TMUS T-Mobile US Inc. | 0.28% | 1,472,902 | $392.8M | Reduce -0.7% |
| UBER Uber Technologies Inc. | 0.28% | 5,345,000 | $389.4M | Add +0.1% |
| HON Honeywell International Inc. | 0.27% | 1,834,000 | $388.3M | Reduce -0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 3,170,600 | $386.2M | Reduce -0.5% |
| COP Conocophillips | 0.27% | 3,648,370 | $383.2M | Reduce -0.9% |
| DHR Danaher Corp. | 0.27% | 1,833,308 | $375.8M | Reduce -0.2% |
| LOW Lowe's Cos Inc. | 0.26% | 1,592,500 | $371.4M | Reduce -0.6% |
| SYK Stryker Corp. | 0.25% | 967,600 | $360.2M | Reduce -0.1% |
| BA The Boeing Co. | 0.25% | 2,110,200 | $359.9M | Add +2.5% |
| FISV Fiserv Inc. | 0.25% | 1,604,586 | $354.3M | Reduce -1.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.25% | 726,200 | $352.1M | Reduce -0.4% |
| ADP Automatic Data Processing | 0.25% | 1,149,100 | $351.1M | Reduce -0.3% |
| BMY Bristol-Myers Squibb Co. | 0.25% | 5,720,500 | $348.9M | Reduce -0.1% |
| DE Deere & Co. | 0.24% | 729,600 | $342.4M | Reduce -0.6% |
| MRSH Marsh & McLennan Cos | 0.24% | 1,385,100 | $338.0M | Reduce -0.3% |
| AMAT Applied Materials Inc. | 0.24% | 2,294,900 | $333.0M | Reduce -1.5% |
| SHOP Shopify Inc. Class A | 0.23% | 3,451,700 | $328.6M | Reduce -1.9% |
| CB Chubb Ltd. | 0.23% | 1,079,991 | $326.1M | Reduce -0.4% |
| MDT Medtronic PLC | 0.23% | 3,616,566 | $325.0M | Reduce -0.2% |
| PANW Palo Alto Networks Inc. | 0.22% | 1,850,700 | $315.8M | Add +0.6% |
| SBUX Starbucks Corp. | 0.22% | 3,197,800 | $313.7M | Reduce -0.1% |
| ETN Eaton Corp. PLC | 0.21% | 1,114,600 | $303.0M | Reduce -0.9% |
| PLD Prologis Inc. | 0.21% | 2,612,208 | $292.0M | Reduce -0.1% |
| MO Altria Group Inc. | 0.20% | 4,780,000 | $286.9M | Reduce -0.8% |
| AMT American Tower Corp. | 0.20% | 1,317,900 | $286.8M | Reduce -0.1% |
| ELV Elevance Health Inc. | 0.20% | 654,200 | $284.6M | Reduce -0.1% |
| SO The Southern Co. | 0.20% | 3,090,300 | $284.2M | Reduce -0.1% |
| ADI Analog Devices Inc. | 0.20% | 1,399,175 | $282.2M | Reduce -0.2% |
| INTC Intel Corp. | 0.20% | 12,164,300 | $276.3M | Add +0.7% |
| ENB Enbridge Inc. | 0.19% | 6,198,431 | $274.5M | Reduce -1.9% |
| MU Micron Technology Inc. | 0.19% | 3,142,500 | $273.1M | Add +0.3% |
| WELL Welltower Inc. | 0.19% | 1,756,300 | $269.1M | Add +0.5% |
| DUK Duke Energy Corp. | 0.19% | 2,178,641 | $265.7M | Reduce -0.1% |
| LRCX Lam Research Corp. | 0.19% | 3,629,000 | $263.8M | Reduce -0.9% |
| WM Waste Management Inc. | 0.19% | 1,131,900 | $262.0M | Reduce -0.2% |
| CI The Cigna Group | 0.18% | 784,401 | $258.1M | Reduce -0.7% |
| KLAC KLA Corp. | 0.18% | 377,200 | $256.4M | Reduce -0.3% |
| MDLZ Mondelez International Inc. Class A | 0.18% | 3,771,424 | $255.9M | Reduce -0.1% |
| MELI MercadoLibre Inc. | 0.18% | 128,600 | $250.9M | Reduce -0.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.17% | 694,600 | $244.9M | Add +5.7% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.17% | 704,500 | $243.2M | Reduce -0.1% |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -0.3% | 5.29% | −0.90 |
| AAPL Apple Inc. | Reduce -1.3% | 6.65% | −0.50 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.47 |
| MSFT Microsoft Corp. | Reduce -0.1% | 5.28% | −0.31 |
| GOOGL Alphabet Inc. Class A | Reduce -0.4% | 1.80% | −0.28 |
| GOOG Alphabet Inc. Class C | Reduce -1.1% | 1.55% | −0.25 |
| CRM Salesforce Inc. | Reduce -0.1% | 0.51% | −0.09 |
| NOW ServiceNow Inc. | Reduce -0.1% | 0.33% | −0.08 |
| MRVL Marvell Technology Inc. | Reduce -0.3% | 0.11% | −0.07 |
| TTD Trade Desk Inc./the Class A | Reduce -0.0% | 0.05% | −0.05 |
| ADBE Adobe Inc. | Reduce -1.3% | 0.33% | −0.04 |
| ETN Eaton Corp. PLC | Reduce -0.9% | 0.21% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -2.1% | 0.12% | −0.03 |
| XYZ Block Inc. | Reduce -0.2% | 0.06% | −0.03 |
| IBKR Interactive Brokers Gro Class A | Sold out | 0.00% | −0.03 |
| VRT Vertiv Holdings Co. Class A | Reduce -0.1% | 0.05% | −0.02 |
| DECK Deckers Outdoor Corp. | Reduce -0.5% | 0.03% | −0.02 |
| ACN Accenture PLC Class A | Reduce -0.1% | 0.39% | −0.02 |
| DIS The Walt Disney Co. | Reduce -0.3% | 0.36% | −0.02 |
| TGT Target Corp. | Reduce -0.7% | 0.10% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -0.4% | 0.45% | −0.02 |
| NKE Nike Inc. Class B | Reduce -0.9% | 0.15% | −0.02 |
| CMG Chipotle Mexican Grill Inc. | Reduce -0.7% | 0.14% | −0.02 |
| LULU Lululemon Athletica Inc. | Reduce -1.0% | 0.06% | −0.02 |
| SHOP Shopify Inc. Class A | Reduce -1.9% | 0.23% | −0.02 |
| AMAT Applied Materials Inc. | Reduce -1.5% | 0.24% | −0.02 |
| ON On Semiconductor | Reduce -0.8% | 0.03% | −0.02 |
| APO Apollo Global Management Inc. | Reduce -0.8% | 0.11% | −0.02 |
| CDNS Cadence Design SYS Inc. | Reduce -0.0% | 0.14% | −0.02 |
| AXP American Express Co. | Reduce -1.1% | 0.30% | −0.02 |
| DHR Danaher Corp. | Reduce -0.2% | 0.27% | −0.01 |
| ILMN Illumina Inc. | Reduce -0.3% | 0.03% | −0.01 |
| SRE Sempra | Reduce -0.1% | 0.09% | −0.01 |
| CAT Caterpillar Inc. | Reduce -0.6% | 0.32% | −0.01 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −0.01 |
| MAR Marriott International Class A | Reduce -1.4% | 0.11% | −0.01 |
| UPS United Parcel Service Class B | Reduce -0.3% | 0.16% | −0.01 |
| WST West Pharmaceutical Services | Reduce -0.3% | 0.03% | −0.01 |
| TER Teradyne Inc. | Reduce -0.3% | 0.03% | −0.01 |
| FDX FedEx Corp. | Reduce -1.6% | 0.11% | −0.01 |
| WDC Western Digital Corp. | Reduce -0.2% | 0.03% | −0.01 |
| ROST Ross Stores Inc. | Reduce -0.7% | 0.08% | −0.01 |
| MANH Manhattan Associates Inc. | Reduce -0.5% | 0.02% | −0.01 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −0.01 |
| GM General Motors Co. | Reduce -2.3% | 0.10% | −0.01 |
| BKNG Booking Holdings Inc. | Reduce -1.5% | 0.30% | −0.01 |
| VST Vistra Corp. | Reduce -1.1% | 0.08% | −0.01 |
| NTAP Netapp Inc. | Reduce -0.9% | 0.04% | −0.01 |
| EMR Emerson Electric Co. | Reduce -0.7% | 0.12% | −0.01 |
| P Everpure Inc. Class A | Reduce -0.6% | 0.03% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.3% | 1.41% | +0.28 |
| V Visa Inc. Class A | Add +3.4% | 1.21% | +0.22 |
| IBM Intl Business Machines Corp. | Add +0.2% | 0.46% | +0.08 |
| COST Costco Wholesale Corp. | Add +0.0% | 0.84% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +3.2% | 0.35% | +0.06 |
| UBER Uber Technologies Inc. | Add +0.1% | 0.28% | +0.06 |
| PG The Procter & Gamble Co. | Add +0.1% | 0.80% | +0.06 |
| WELL Welltower Inc. | Add +0.5% | 0.19% | +0.04 |
| SPOT Spotify Technology SA | Add +1.8% | 0.17% | +0.04 |
| INTC Intel Corp. | Add +0.7% | 0.20% | +0.03 |
| DASH DoorDash Inc. Class A | Add +13.8% | 0.13% | +0.03 |
| MSTR Strategy Inc. | Add +23.8% | 0.13% | +0.03 |
| PDD PDD Holdings Inc. | Add +0.3% | 0.13% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +5.7% | 0.17% | +0.02 |
| SE Sea Ltd.-ADR | Add +0.1% | 0.09% | +0.02 |
| EXC Exelon Corp. | Add +0.3% | 0.09% | +0.02 |
| TDG Transdigm Group Inc. | Add +0.1% | 0.15% | +0.02 |
| IP International Paper Co. | Add +50.8% | 0.05% | +0.02 |
| MU Micron Technology Inc. | Add +0.3% | 0.19% | +0.02 |
| BRO Brown & Brown Inc. | Add +0.1% | 0.06% | +0.01 |
| O Realty Income Corp. | Add +0.3% | 0.10% | +0.01 |
| ALL Allstate Corp. | Add +0.1% | 0.11% | +0.01 |
| KDP Keurig Dr Pepper Inc. | Add +5.5% | 0.08% | +0.01 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +0.4% | 0.07% | +0.01 |
| OKE Oneok Inc. | Add +6.1% | 0.12% | +0.01 |
| ETR Entergy Corp. | Add +0.1% | 0.07% | +0.01 |
| TTWO Take-Two Interactive Softwre | Add +0.1% | 0.07% | +0.01 |
| BA The Boeing Co. | Add +2.5% | 0.25% | +0.01 |
| VTR Ventas Inc. | Add +1.0% | 0.06% | +0.01 |
| CSGP Costar Group Inc. | Add +2.6% | 0.07% | +0.01 |
| EQT Eqt Corp. | Add +0.2% | 0.06% | +0.01 |
| UAL United Airlines Holdings Inc. | New | 0.01% | +0.01 |
| MKTX Marketaxess Holdings Inc. | New | 0.01% | +0.01 |
| VICI Vici Properties Inc. | Add +0.5% | 0.07% | +0.01 |
| NTRA Natera Inc. | Add +52.0% | 0.04% | +0.01 |
| VEEV Veeva Systems Inc. Class A | Add +0.1% | 0.07% | +0.01 |
| OXY Occidental Petroleum Corp. | Add +10.8% | 0.07% | +0.01 |
| OKTA Okta Inc. | Add +0.8% | 0.03% | +0.01 |
| XEL Xcel Energy Inc. | Add +2.8% | 0.08% | +0.01 |
| FTNT Fortinet Inc. | Add +0.0% | 0.12% | +0.01 |
| CHKP Check Point Software Tech | Add +1.2% | 0.04% | +0.01 |
| BDX Becton Dickinson and Co. | Add +0.1% | 0.13% | +0.01 |
| ZS Zscaler Inc. | Add +8.8% | 0.04% | +0.01 |
| EXE Expand Energy Corp. | Add +1.7% | 0.05% | +0.01 |
| ESLT Elbit Systems Ltd. | Add +1.2% | 0.02% | +0.01 |
| NET Cloudflare Inc. Class A | Add +0.3% | 0.07% | +0.01 |
| ES Eversource Energy | Add +2.4% | 0.05% | +0.01 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +8.7% | 0.05% | +0.01 |
| NTNX Nutanix Inc. Class A | Add +0.9% | 0.04% | +0.01 |
| NI Nisource Inc. | Add +3.9% | 0.04% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,301 | $191.4B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 2,301 | $173.8B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 2,311 | $168.0B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 2,315 | $172.4B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 2,332 | $166.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 2,397 | $141.6B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 2,440 | $150.3B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 2,465 | $154.0B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 2,458 | $145.5B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 2,505 | $142.7B | MSFT, AAPL, NVDA, AMZN, META |