Swiss National Bank
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Swiss National Bank reported 2,332 stock positions worth $166.9 billion. Its top holding was Nvidia (NVDA) at 7.0% of the portfolio, followed by Microsoft (MSFT, 6.4%) and Apple (AAPL, 5.6%). Compared with Q1 2025, it opened 26 new positions, sold out of 92, added to 875 and reduced 1,130. The biggest buy was Nvidia (NVDA, shares +7%) and the biggest sale an exit from Discover Financial Services (DFS).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001582202
- Portfolio Value
- $166.9B (Q2 2025)
- SEC Filing
- 0001582202-25-000007 ↗ filed Aug 12, 2025
Holdings Value
Holdings 2,332 stocks · $166.9B
| NVDA Nvidia Corp. | 6.99% | 73,861,400 | $11.7B | Add +6.9% |
| MSFT Microsoft Corp. | 6.37% | 21,378,070 | $10.6B | Add +7.3% |
| AAPL Apple Inc. | 5.59% | 45,473,468 | $9.3B | Add +7.2% |
| AMZN Amazon.com Inc. | 3.80% | 28,912,300 | $6.3B | Add +8.3% |
| META Meta Platforms Inc. Class A | 2.93% | 6,630,600 | $4.9B | Add +7.8% |
| AVGO Broadcom Inc. | 2.23% | 13,521,630 | $3.7B | Add +7.7% |
| GOOGL Alphabet Inc. Class A | 1.86% | 17,657,100 | $3.1B | Add +7.2% |
| TSLA Tesla Inc. | 1.67% | 8,763,075 | $2.8B | Add +7.5% |
| GOOG Alphabet Inc. Class C | 1.59% | 14,976,100 | $2.7B | Add +6.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.18% | 4,055,905 | $2.0B | Add +8.1% |
| LLY Eli Lilly & Co. | 1.14% | 2,439,190 | $1.9B | Add +7.2% |
| V Visa Inc. Class A | 1.11% | 5,216,800 | $1.9B | Add +7.0% |
| NFLX Netflix Inc. | 1.04% | 1,294,900 | $1.7B | Add +7.4% |
| XOM Exxon Mobil Corp. | 0.85% | 13,093,118 | $1.4B | Add +5.6% |
| MA Mastercard Inc. Class A | 0.83% | 2,465,300 | $1.4B | Add +6.6% |
| COST Costco Wholesale Corp. | 0.80% | 1,343,000 | $1.3B | Add +7.3% |
| WMT Walmart Inc. | 0.78% | 13,347,200 | $1.3B | Add +7.1% |
| PG The Procter & Gamble Co. | 0.68% | 7,098,090 | $1.1B | Add +6.9% |
| JNJ Johnson & Johnson | 0.67% | 7,294,807 | $1.1B | Add +7.4% |
| ORCL Oracle Corp. | 0.67% | 5,093,200 | $1.1B | Add +7.6% |
| HD Home Depot Inc. | 0.66% | 3,008,600 | $1.1B | Add +7.4% |
| ABBV Abbvie Inc. | 0.60% | 5,354,810 | $994.0M | Add +7.4% |
| PLTR Palantir Technologies Inc. Class A | 0.53% | 6,484,200 | $883.9M | Add +9.3% |
| KO The Coca-Cola Co. | 0.52% | 12,376,000 | $875.6M | Add +7.2% |
| UNH Unitedhealth Group Inc. | 0.52% | 2,769,061 | $863.9M | Add +6.7% |
| PM Philip Morris International | 0.51% | 4,711,600 | $858.1M | Add +7.4% |
| CSCO Cisco Systems Inc. | 0.50% | 12,042,600 | $835.5M | Add +7.2% |
| GE General Electric filed as GE AEROSPACE | 0.50% | 3,228,662 | $831.0M | Add +5.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.50% | 2,806,900 | $827.4M | Add +7.6% |
| CRM Salesforce Inc. | 0.48% | 2,908,977 | $793.2M | Add +7.8% |
| ABT Abbott Laboratories | 0.43% | 5,249,880 | $714.0M | Add +7.3% |
| AMD Advanced Micro Devices | 0.42% | 4,917,975 | $697.9M | Add +7.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.41% | 5,472,225 | $678.6M | Add +7.1% |
| LIN Linde PLC | 0.40% | 1,431,601 | $671.7M | Add +6.6% |
| INTU Intuit Inc. | 0.40% | 846,200 | $666.5M | Add +7.2% |
| NOW ServiceNow Inc. | 0.39% | 626,600 | $644.2M | Add +7.8% |
| MCD McDonald's Corp. | 0.38% | 2,164,700 | $632.5M | Add +7.1% |
| T AT&T Inc. | 0.38% | 21,728,984 | $628.8M | Add +7.4% |
| MRK Merck & Co. Inc. | 0.36% | 7,617,551 | $603.0M | Add +6.8% |
| RTX RTX Corp. | 0.35% | 4,041,381 | $590.1M | Add +7.7% |
| ISRG Intuitive Surgical Inc. | 0.35% | 1,084,500 | $589.3M | Add +8.0% |
| BKNG Booking Holdings Inc. | 0.34% | 99,284 | $574.8M | Add +6.3% |
| TXN Texas Instruments Inc. | 0.34% | 2,754,500 | $571.9M | Add +7.1% |
| ACN Accenture PLC Class A | 0.34% | 1,895,000 | $566.4M | Add +7.4% |
| CAT Caterpillar Inc. | 0.34% | 1,446,800 | $561.7M | Add +6.3% |
| VZ Verizon Communications Inc. | 0.33% | 12,774,398 | $552.7M | Add +7.6% |
| PEP Pepsico Inc. | 0.33% | 4,151,100 | $548.1M | Add +7.3% |
| AXP American Express Co. | 0.32% | 1,697,879 | $541.6M | Add +6.8% |
| QCOM Qualcomm Inc. | 0.32% | 3,347,900 | $533.2M | Add +6.8% |
| UBER Uber Technologies Inc. | 0.32% | 5,697,400 | $531.6M | Add +6.6% |
| ADBE Adobe Inc. | 0.30% | 1,290,200 | $499.2M | Add +5.1% |
| BSX Boston Scientific Corp. | 0.29% | 4,477,200 | $480.9M | Add +7.7% |
| BA The Boeing Co. | 0.29% | 2,277,700 | $477.2M | Add +7.9% |
| PGR Progressive Corp. | 0.28% | 1,774,600 | $473.6M | Add +7.4% |
| TMO Thermo Fisher Scientific Inc. | 0.28% | 1,142,700 | $463.3M | Add +5.9% |
| HON Honeywell International Inc. | 0.27% | 1,963,900 | $457.4M | Add +7.1% |
| AMGN Amgen Inc. | 0.27% | 1,627,533 | $454.4M | Add +7.3% |
| AMAT Applied Materials Inc. | 0.27% | 2,459,400 | $450.2M | Add +7.2% |
| GEV GE Vernova Inc. | 0.26% | 827,465 | $437.9M | Add +6.4% |
| NEE Nextera Energy Inc. | 0.26% | 6,231,500 | $432.6M | Add +7.4% |
| SHOP Shopify Inc. Class A | 0.25% | 3,700,900 | $425.2M | Add +7.2% |
| ETN Eaton Corp. PLC | 0.25% | 1,185,900 | $423.4M | Add +6.4% |
| GILD Gilead Sciences Inc. | 0.25% | 3,773,700 | $418.4M | Add +7.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 3,381,700 | $417.6M | Add +6.7% |
| UNP Union Pacific Corp. | 0.25% | 1,814,300 | $417.4M | Add +6.1% |
| MU Micron Technology Inc. | 0.25% | 3,383,100 | $417.0M | Add +7.7% |
| PFE Pfizer Inc. | 0.25% | 17,168,012 | $416.2M | Add +7.4% |
| COF Capital One Financial Corp. | 0.25% | 1,935,516 | $411.8M | Add +80.0% |
| SYK Stryker Corp. | 0.25% | 1,039,900 | $411.4M | Add +7.5% |
| PANW Palo Alto Networks Inc. | 0.25% | 2,004,200 | $410.1M | Add +8.3% |
| CMCSA Comcast Corp. Class A | 0.24% | 11,417,100 | $407.5M | Add +6.0% |
| DE Deere & Co. | 0.24% | 780,600 | $396.9M | Add +7.0% |
| DHR Danaher Corp. | 0.23% | 1,949,208 | $385.0M | Add +6.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.23% | 750,300 | $382.1M | Add +8.0% |
| ADP Automatic Data Processing | 0.23% | 1,231,600 | $379.8M | Add +7.2% |
| LRCX Lam Research Corp. | 0.23% | 3,885,700 | $378.2M | Add +7.1% |
| LOW Lowe's Cos Inc. | 0.23% | 1,694,400 | $375.9M | Add +6.4% |
| SPOT Spotify Technology SA | 0.22% | 484,100 | $371.5M | Add +12.5% |
| APH Amphenol Corp. Class A | 0.22% | 3,668,200 | $362.2M | Add +7.9% |
| MELI MercadoLibre Inc. | 0.22% | 138,200 | $361.2M | Add +7.5% |
| KLAC KLA Corp. | 0.22% | 402,300 | $360.4M | Add +6.7% |
| ADI Analog Devices Inc. | 0.21% | 1,501,275 | $357.3M | Add +7.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.21% | 778,300 | $346.5M | Add +7.2% |
| COP Conocophillips | 0.21% | 3,826,870 | $343.4M | Add +4.9% |
| MDT Medtronic PLC | 0.20% | 3,882,366 | $338.4M | Add +7.3% |
| TMUS T-Mobile US Inc. | 0.20% | 1,407,502 | $335.4M | Reduce -4.4% |
| CB Chubb Ltd. | 0.20% | 1,152,691 | $334.0M | Add +6.7% |
| ANET Arista Networks Inc. | 0.20% | 3,244,900 | $332.0M | Add +7.4% |
| MRSH Marsh & McLennan Cos | 0.20% | 1,491,600 | $326.1M | Add +7.7% |
| SBUX Starbucks Corp. | 0.19% | 3,438,500 | $315.1M | Add +7.5% |
| AMT American Tower Corp. | 0.19% | 1,417,100 | $313.2M | Add +7.5% |
| CEG Constellation Energy | 0.18% | 948,451 | $306.1M | Add +7.5% |
| SO The Southern Co. | 0.18% | 3,320,200 | $304.9M | Add +7.4% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.18% | 749,300 | $302.9M | Add +17.1% |
| WELL Welltower Inc. | 0.18% | 1,962,900 | $301.8M | Add +11.8% |
| MO Altria Group Inc. | 0.18% | 5,104,700 | $299.3M | Add +6.8% |
| ENB Enbridge Inc. | 0.18% | 6,622,431 | $299.1M | Add +6.8% |
| TT Trane Technologies PLC | 0.18% | 679,003 | $297.0M | Add +7.0% |
| INTC Intel Corp. | 0.18% | 13,199,900 | $295.7M | Add +8.5% |
| PLD Prologis Inc. | 0.18% | 2,806,008 | $295.0M | Add +7.4% |
Portfolio Sells Q1 2025 → Q2 2025
| DFS Discover Financial Services | Sold out | 0.00% | −0.09 |
| TMUS T-Mobile US Inc. | Reduce -4.4% | 0.20% | −0.08 |
| PDD PDD Holdings Inc. | Reduce -0.2% | 0.10% | −0.03 |
| BEKE Ke Holdings Inc.-ADR | Sold out | 0.00% | −0.02 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −0.02 |
| GM General Motors Co. | Reduce -5.7% | 0.09% | −0.02 |
| X United States Steel Corp. | Sold out | 0.00% | −0.01 |
| KMX Carmax Inc. | Reduce -32.9% | 0.01% | −0.01 |
| SWK Stanley Black & Decker Inc. | Reduce -32.2% | 0.01% | −0.01 |
| BERY Berry Global Group Inc. | Sold out | 0.00% | −0.01 |
| KR Kroger Co. | Reduce -2.0% | 0.08% | −0.01 |
| OVV Ovintiv Inc. | Reduce -32.4% | 0.01% | −0.01 |
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −0.01 |
| EMN Eastman Chemical Co. | Reduce -32.6% | 0.01% | −0.01 |
| AIZ Assurant Inc. | Reduce -33.0% | 0.01% | −0.01 |
| LUV Southwest Airlines Co. | Sold out | 0.00% | −0.01 |
| IPG Interpublic Group of Cos Inc. | Reduce -32.3% | 0.01% | −0.01 |
| TECH Bio-Techne Corp. | Reduce -32.7% | 0.01% | −0.01 |
| YUMC Yum China Holdings Inc. | Reduce -1.5% | 0.02% | −0.01 |
| VTRS Viatris Inc. | Reduce -32.4% | 0.01% | −0.01 |
| ALB Albemarle Corp. | Reduce -32.3% | 0.01% | −0.01 |
| FBIN Fortune Brands Innovations I | Reduce -34.0% | 0.01% | −0.01 |
| WLK Westlake Corp. | Sold out | 0.00% | −0.01 |
| ALLY Ally Financial Inc. | Reduce -31.8% | 0.01% | −0.01 |
| EPAM Epam Systems Inc. | Reduce -32.5% | 0.01% | −0.01 |
| HST Host Hotels & Resorts Inc. | Reduce -32.9% | 0.01% | −0.01 |
| MRNA Moderna Inc. | Reduce -28.1% | 0.01% | −0.01 |
| SWKS Skyworks Solutions Inc. | Reduce -35.0% | 0.01% | −0.01 |
| DAY Dayforce Inc. | Reduce -28.6% | 0.01% | −0.01 |
| MANH Manhattan Associates Inc. | Reduce -32.8% | 0.01% | −0.01 |
| CORT Corcept Therapeutics Inc. | Reduce -0.7% | 0.01% | −0.01 |
| AOS Smith (a.o.) Corp. | Reduce -33.5% | 0.01% | −0.01 |
| WBA Walgreens Boots Alliance Inc. | Reduce -32.3% | 0.01% | −0.01 |
| WYNN WYNN Resorts Ltd. | Reduce -38.5% | 0.01% | −0.01 |
| VRN Veren Inc. | Sold out | 0.00% | −0.01 |
| ENPH Enphase Energy Inc. | Reduce -4.3% | 0.01% | −0.01 |
| ROKU Roku Inc. | Reduce -31.9% | 0.01% | −0.01 |
| MGM MGM Resorts International | Reduce -35.7% | 0.01% | −0.00 |
| EXAS Exact Sciences Corp. | Reduce -32.1% | 0.01% | −0.00 |
| BRBR Bellring Brands Inc. | Reduce -1.9% | 0.01% | −0.00 |
| BJ Bj's Wholesale Club Holdings | Reduce -1.7% | 0.02% | −0.00 |
| SAIA Saia Inc. | Reduce -1.2% | 0.01% | −0.00 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.00 |
| BIO Bio-Rad Laboratories-A | Reduce -32.4% | 0.01% | −0.00 |
| UNM Unum Group | Reduce -4.8% | 0.02% | −0.00 |
| HALO Halozyme Therapeutics Inc. | Reduce -4.3% | 0.01% | −0.00 |
| BALL Ball Corp. | Reduce -3.5% | 0.03% | −0.00 |
| GMED Globus Medical Inc. Class A | Reduce -0.2% | 0.01% | −0.00 |
| MUSA Murphy USA Inc. | Reduce -3.8% | 0.01% | −0.00 |
| PDCO Patterson Cos Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +6.9% | 6.99% | +1.70 |
| MSFT Microsoft Corp. | Add +7.3% | 6.37% | +1.09 |
| AVGO Broadcom Inc. | Add +7.7% | 2.23% | +0.75 |
| META Meta Platforms Inc. Class A | Add +7.8% | 2.93% | +0.43 |
| NFLX Netflix Inc. | Add +7.4% | 1.04% | +0.24 |
| AMZN Amazon.com Inc. | Add +8.3% | 3.80% | +0.21 |
| ORCL Oracle Corp. | Add +7.6% | 0.67% | +0.20 |
| TSLA Tesla Inc. | Add +7.5% | 1.67% | +0.18 |
| PLTR Palantir Technologies Inc. Class A | Add +9.3% | 0.53% | +0.18 |
| COF Capital One Financial Corp. | Add +80.0% | 0.25% | +0.11 |
| GEV GE Vernova Inc. | Add +6.4% | 0.26% | +0.09 |
| AMD Advanced Micro Devices | Add +7.5% | 0.42% | +0.09 |
| GE General Electric | Add +5.8% | 0.50% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +7.2% | 1.86% | +0.06 |
| APH Amphenol Corp. Class A | Add +7.9% | 0.22% | +0.06 |
| NOW ServiceNow Inc. | Add +7.8% | 0.39% | +0.06 |
| CEG Constellation Energy | Add +7.5% | 0.18% | +0.06 |
| INTU Intuit Inc. | Add +7.2% | 0.40% | +0.06 |
| MU Micron Technology Inc. | Add +7.7% | 0.25% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +8.0% | 0.23% | +0.06 |
| SPOT Spotify Technology SA | Add +12.5% | 0.22% | +0.06 |
| MSTR Strategy Inc. | Add +17.1% | 0.18% | +0.05 |
| DIS The Walt Disney Co. | Add +7.1% | 0.41% | +0.05 |
| RBLX Roblox Corp. Class A | Add +18.2% | 0.10% | +0.05 |
| UBER Uber Technologies Inc. | Add +6.6% | 0.32% | +0.04 |
| SNOW Snowflake Inc. | Add +14.7% | 0.13% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +6.6% | 1.59% | +0.04 |
| NET Cloudflare Inc. Class A | Add +8.4% | 0.11% | +0.04 |
| RCL Royal Caribbean Cruises Ltd. | Add +7.4% | 0.15% | +0.04 |
| BKNG Booking Holdings Inc. | Add +6.3% | 0.34% | +0.04 |
| LRCX Lam Research Corp. | Add +7.1% | 0.23% | +0.04 |
| VST Vistra Corp. | Add +7.3% | 0.12% | +0.04 |
| ETN Eaton Corp. PLC | Add +6.4% | 0.25% | +0.04 |
| MELI MercadoLibre Inc. | Add +7.5% | 0.22% | +0.04 |
| IBM Intl Business Machines Corp. | Add +7.6% | 0.50% | +0.04 |
| APP AppLovin Corp. Class A | Add +19.1% | 0.15% | +0.04 |
| KLAC KLA Corp. | Add +6.7% | 0.22% | +0.03 |
| AMAT Applied Materials Inc. | Add +7.2% | 0.27% | +0.03 |
| ANET Arista Networks Inc. | Add +7.4% | 0.20% | +0.03 |
| AXON Axon Enterprise Inc. | Add +7.8% | 0.11% | +0.03 |
| VRT Vertiv Holdings Co. Class A | Add +8.9% | 0.08% | +0.03 |
| DASH DoorDash Inc. Class A | Add +9.6% | 0.16% | +0.03 |
| BA The Boeing Co. | Add +7.9% | 0.29% | +0.03 |
| HWM Howmet Aerospace Inc. | Add +7.0% | 0.13% | +0.03 |
| TT Trane Technologies PLC | Add +7.0% | 0.18% | +0.03 |
| PWR Quanta Services Inc. | Add +7.7% | 0.10% | +0.03 |
| CVNA Carvana Co. | Add +12.2% | 0.07% | +0.03 |
| EMA Emera Inc. | New | 0.02% | +0.02 |
| CCJ Cameco Corp. | Add +6.8% | 0.06% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +8.3% | 0.25% | +0.02 |
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 |