Swiss National Bank
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Swiss National Bank reported 2,315 stock positions worth $172.4 billion. Its top holding was Nvidia (NVDA) at 7.6% of the portfolio, followed by Apple (AAPL, 6.4%) and Microsoft (MSFT, 6.1%). Compared with Q2 2025, it opened 38 new positions, sold out of 55, added to 1,264 and reduced 727. The biggest buy was Palantir Technologies Class A (PLTR, shares +1%) and the biggest sale Amazon.com (AMZN, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001582202
- Portfolio Value
- $172.4B (Q3 2025)
- SEC Filing
- 0001582202-25-000011 ↗ filed Nov 13, 2025
Holdings Value
Holdings 2,315 stocks · $172.4B
| NVDA Nvidia Corp. | 7.61% | 70,335,700 | $13.1B | Reduce -4.8% |
| AAPL Apple Inc. | 6.36% | 43,054,168 | $11.0B | Reduce -5.3% |
| MSFT Microsoft Corp. | 6.12% | 20,353,870 | $10.5B | Reduce -4.8% |
| AMZN Amazon.com Inc. | 3.51% | 27,542,600 | $6.0B | Reduce -4.7% |
| META Meta Platforms Inc. Class A | 2.67% | 6,258,600 | $4.6B | Reduce -5.6% |
| AVGO Broadcom Inc. | 2.47% | 12,880,230 | $4.2B | Reduce -4.7% |
| GOOGL Alphabet Inc. Class A | 2.37% | 16,776,600 | $4.1B | Reduce -5.0% |
| TSLA Tesla Inc. | 2.16% | 8,356,175 | $3.7B | Reduce -4.6% |
| GOOG Alphabet Inc. Class C | 2.00% | 14,162,400 | $3.4B | Reduce -5.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.14% | 3,906,505 | $2.0B | Reduce -3.7% |
| LLY Eli Lilly & Co. | 1.03% | 2,322,190 | $1.8B | Reduce -4.8% |
| V Visa Inc. Class A | 0.98% | 4,932,100 | $1.7B | Reduce -5.5% |
| NFLX Netflix Inc. | 0.85% | 1,226,800 | $1.5B | Reduce -5.3% |
| MA Mastercard Inc. Class A | 0.81% | 2,468,100 | $1.4B | Add +0.1% |
| XOM Exxon Mobil Corp. | 0.81% | 12,422,918 | $1.4B | Reduce -5.1% |
| ORCL Oracle Corp. | 0.80% | 4,883,400 | $1.4B | Reduce -4.1% |
| WMT Walmart Inc. | 0.76% | 12,652,400 | $1.3B | Reduce -5.2% |
| JNJ Johnson & Johnson | 0.75% | 6,935,707 | $1.3B | Reduce -4.9% |
| PLTR Palantir Technologies Inc. Class A | 0.69% | 6,527,000 | $1.2B | Add +0.7% |
| COST Costco Wholesale Corp. | 0.69% | 1,278,400 | $1.2B | Reduce -4.8% |
| ABBV Abbvie Inc. | 0.68% | 5,091,810 | $1.2B | Reduce -4.9% |
| HD Home Depot Inc. | 0.67% | 2,868,000 | $1.2B | Reduce -4.7% |
| PG The Procter & Gamble Co. | 0.60% | 6,758,290 | $1.0B | Reduce -4.8% |
| GE General Electric filed as GE AEROSPACE | 0.54% | 3,073,962 | $924.7M | Reduce -4.8% |
| UNH Unitedhealth Group Inc. | 0.52% | 2,614,861 | $902.9M | Reduce -5.6% |
| CSCO Cisco Systems Inc. | 0.46% | 11,467,800 | $784.6M | Reduce -4.8% |
| KO The Coca-Cola Co. | 0.45% | 11,787,100 | $781.7M | Reduce -4.8% |
| AMD Advanced Micro Devices | 0.44% | 4,673,875 | $756.2M | Reduce -5.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.44% | 2,679,000 | $755.9M | Reduce -4.6% |
| PM Philip Morris International | 0.42% | 4,486,800 | $727.8M | Reduce -4.8% |
| ABT Abbott Laboratories | 0.39% | 5,015,280 | $671.7M | Reduce -4.5% |
| CRM Salesforce Inc. | 0.38% | 2,755,777 | $653.1M | Reduce -5.3% |
| CAT Caterpillar Inc. | 0.38% | 1,355,800 | $646.9M | Reduce -6.3% |
| LIN Linde PLC | 0.37% | 1,356,901 | $644.5M | Reduce -5.2% |
| RTX RTX Corp. | 0.37% | 3,850,981 | $644.4M | Reduce -4.7% |
| MCD McDonald's Corp. | 0.36% | 2,061,100 | $626.3M | Reduce -4.8% |
| MRK Merck & Co. Inc. | 0.35% | 7,238,251 | $607.5M | Reduce -5.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.34% | 5,182,125 | $593.4M | Reduce -5.3% |
| T AT&T Inc. | 0.34% | 20,742,084 | $585.8M | Reduce -4.5% |
| UBER Uber Technologies Inc. | 0.33% | 5,726,600 | $561.0M | Add +0.5% |
| PEP Pepsico Inc. | 0.32% | 3,952,200 | $555.0M | Reduce -4.8% |
| NOW ServiceNow Inc. | 0.32% | 597,100 | $549.5M | Reduce -4.7% |
| INTU Intuit Inc. | 0.32% | 804,100 | $549.1M | Reduce -5.0% |
| MU Micron Technology Inc. | 0.31% | 3,225,900 | $539.8M | Reduce -4.7% |
| AXP American Express Co. | 0.31% | 1,615,579 | $536.6M | Reduce -4.8% |
| VZ Verizon Communications Inc. | 0.31% | 12,153,698 | $534.2M | Reduce -4.9% |
| TMO Thermo Fisher Scientific Inc. | 0.31% | 1,088,200 | $527.8M | Reduce -4.8% |
| SHOP Shopify Inc. Class A | 0.30% | 3,510,500 | $521.8M | Reduce -5.1% |
| QCOM Qualcomm Inc. | 0.30% | 3,118,100 | $518.7M | Reduce -6.9% |
| BKNG Booking Holdings Inc. | 0.29% | 93,784 | $506.4M | Reduce -5.5% |
| LRCX Lam Research Corp. | 0.29% | 3,687,200 | $493.7M | Reduce -5.1% |
| GEV GE Vernova Inc. | 0.28% | 786,765 | $483.8M | Reduce -4.9% |
| TXN Texas Instruments Inc. | 0.28% | 2,618,800 | $481.2M | Reduce -4.9% |
| APP AppLovin Corp. Class A | 0.28% | 665,290 | $478.0M | Reduce -5.3% |
| AMAT Applied Materials Inc. | 0.27% | 2,313,300 | $473.6M | Reduce -5.9% |
| BA The Boeing Co. | 0.27% | 2,173,500 | $469.1M | Reduce -4.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 3,215,900 | $464.8M | Reduce -4.9% |
| ISRG Intuitive Surgical Inc. | 0.27% | 1,033,200 | $462.1M | Reduce -4.7% |
| ANET Arista Networks Inc. | 0.26% | 3,077,300 | $448.4M | Reduce -5.2% |
| NEE Nextera Energy Inc. | 0.26% | 5,934,100 | $448.0M | Reduce -4.8% |
| ACN Accenture PLC Class A | 0.26% | 1,795,500 | $442.8M | Reduce -5.3% |
| AMGN Amgen Inc. | 0.25% | 1,549,933 | $437.4M | Reduce -4.8% |
| APH Amphenol Corp. Class A | 0.25% | 3,486,800 | $431.5M | Reduce -5.0% |
| ADBE Adobe Inc. | 0.25% | 1,222,800 | $431.3M | Reduce -5.2% |
| ETN Eaton Corp. PLC | 0.24% | 1,128,000 | $422.2M | Reduce -4.9% |
| INTC Intel Corp. | 0.24% | 12,573,800 | $421.9M | Reduce -4.7% |
| PFE Pfizer Inc. | 0.24% | 16,388,512 | $417.6M | Reduce -4.5% |
| PGR Progressive Corp. | 0.24% | 1,689,800 | $417.3M | Reduce -4.8% |
| BSX Boston Scientific Corp. | 0.24% | 4,264,700 | $416.4M | Reduce -4.8% |
| KLAC KLA Corp. | 0.24% | 381,200 | $411.2M | Reduce -5.2% |
| UNP Union Pacific Corp. | 0.24% | 1,722,300 | $407.1M | Reduce -5.1% |
| LOW Lowe's Cos Inc. | 0.24% | 1,615,500 | $406.0M | Reduce -4.7% |
| GILD Gilead Sciences Inc. | 0.23% | 3,585,600 | $398.0M | Reduce -5.0% |
| COF Capital One Financial Corp. | 0.23% | 1,845,316 | $392.3M | Reduce -4.7% |
| PANW Palo Alto Networks Inc. | 0.23% | 1,922,100 | $391.4M | Reduce -4.1% |
| HON Honeywell International Inc. | 0.23% | 1,852,600 | $390.0M | Reduce -5.7% |
| DHR Danaher Corp. | 0.21% | 1,856,708 | $368.1M | Reduce -4.8% |
| SYK Stryker Corp. | 0.21% | 991,500 | $366.5M | Reduce -4.7% |
| TMUS T-Mobile US Inc. | 0.20% | 1,472,902 | $352.6M | Add +4.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.20% | 718,500 | $352.3M | Reduce -4.2% |
| MDT Medtronic PLC | 0.20% | 3,693,366 | $351.8M | Reduce -4.9% |
| ADI Analog Devices Inc. | 0.20% | 1,430,475 | $351.5M | Reduce -4.7% |
| COP Conocophillips | 0.20% | 3,639,070 | $344.2M | Reduce -4.9% |
| ADP Automatic Data Processing | 0.20% | 1,170,200 | $343.5M | Reduce -5.0% |
| DE Deere & Co. | 0.20% | 741,700 | $339.1M | Reduce -5.0% |
| CMCSA Comcast Corp. Class A | 0.20% | 10,735,500 | $337.3M | Reduce -6.0% |
| WELL Welltower Inc. | 0.19% | 1,885,100 | $335.8M | Reduce -4.0% |
| MO Altria Group Inc. | 0.19% | 4,855,600 | $320.8M | Reduce -4.9% |
| SPOT Spotify Technology SA | 0.19% | 457,000 | $319.0M | Reduce -5.6% |
| ENB Enbridge Inc. | 0.18% | 6,272,931 | $316.6M | Reduce -5.3% |
| CB Chubb Ltd. | 0.18% | 1,097,391 | $309.7M | Reduce -4.8% |
| MELI MercadoLibre Inc. | 0.18% | 131,500 | $307.3M | Reduce -4.8% |
| PLD Prologis Inc. | 0.18% | 2,674,808 | $306.3M | Reduce -4.7% |
| SO The Southern Co. | 0.17% | 3,168,100 | $300.2M | Reduce -4.6% |
| CEG Constellation Energy | 0.17% | 903,551 | $297.3M | Reduce -4.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.17% | 740,300 | $289.9M | Reduce -4.9% |
| MRSH Marsh & McLennan Cos | 0.17% | 1,420,300 | $286.2M | Reduce -4.8% |
| DASH DoorDash Inc. Class A | 0.16% | 1,034,300 | $281.3M | Reduce -4.6% |
| PH Parker Hannifin Corp. | 0.16% | 368,300 | $279.2M | Reduce -5.5% |
| MCK McKesson Corp. | 0.16% | 360,550 | $278.5M | Reduce -5.0% |
Portfolio Sells Q2 2025 → Q3 2025
| AMZN Amazon.com Inc. | Reduce -4.7% | 3.51% | −0.29 |
| META Meta Platforms Inc. Class A | Reduce -5.6% | 2.67% | −0.26 |
| MSFT Microsoft Corp. | Reduce -4.8% | 6.12% | −0.25 |
| NFLX Netflix Inc. | Reduce -5.3% | 0.85% | −0.19 |
| V Visa Inc. Class A | Reduce -5.5% | 0.98% | −0.13 |
| LLY Eli Lilly & Co. | Reduce -4.8% | 1.03% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -4.8% | 0.69% | −0.11 |
| CRM Salesforce Inc. | Reduce -5.3% | 0.38% | −0.10 |
| PM Philip Morris International | Reduce -4.8% | 0.42% | −0.09 |
| ISRG Intuitive Surgical Inc. | Reduce -4.7% | 0.27% | −0.08 |
| ACN Accenture PLC Class A | Reduce -5.3% | 0.26% | −0.08 |
| INTU Intuit Inc. | Reduce -5.0% | 0.32% | −0.08 |
| PG The Procter & Gamble Co. | Reduce -4.8% | 0.60% | −0.07 |
| HES Hess Corp. | Sold out | 0.00% | −0.07 |
| KO The Coca-Cola Co. | Reduce -4.8% | 0.45% | −0.07 |
| NOW ServiceNow Inc. | Reduce -4.7% | 0.32% | −0.07 |
| TXN Texas Instruments Inc. | Reduce -4.9% | 0.28% | −0.06 |
| DIS The Walt Disney Co. | Reduce -5.3% | 0.34% | −0.06 |
| IBM Intl Business Machines Corp. | Reduce -4.6% | 0.44% | −0.06 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.06 |
| FISV Fiserv Inc. | Reduce -5.5% | 0.12% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -5.5% | 0.29% | −0.05 |
| CMG Chipotle Mexican Grill Inc. | Reduce -5.3% | 0.09% | −0.05 |
| ADBE Adobe Inc. | Reduce -5.2% | 0.25% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -6.0% | 0.20% | −0.05 |
| HON Honeywell International Inc. | Reduce -5.7% | 0.23% | −0.05 |
| BSX Boston Scientific Corp. | Reduce -4.8% | 0.24% | −0.05 |
| CSCO Cisco Systems Inc. | Reduce -4.8% | 0.46% | −0.05 |
| PGR Progressive Corp. | Reduce -4.8% | 0.24% | −0.04 |
| DE Deere & Co. | Reduce -5.0% | 0.20% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.7% | 1.14% | −0.04 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -4.9% | 0.17% | −0.04 |
| MELI MercadoLibre Inc. | Reduce -4.8% | 0.18% | −0.04 |
| ABT Abbott Laboratories | Reduce -4.5% | 0.39% | −0.04 |
| ELV Elevance Health Inc. | Reduce -5.0% | 0.12% | −0.04 |
| SPOT Spotify Technology SA | Reduce -5.6% | 0.19% | −0.04 |
| AMT American Tower Corp. | Reduce -4.8% | 0.15% | −0.04 |
| T AT&T Inc. | Reduce -4.5% | 0.34% | −0.04 |
| FTNT Fortinet Inc. | Reduce -5.2% | 0.09% | −0.03 |
| SYK Stryker Corp. | Reduce -4.7% | 0.21% | −0.03 |
| CI The Cigna Group | Reduce -6.2% | 0.13% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -5.1% | 0.81% | −0.03 |
| UPS United Parcel Service Class B | Reduce -4.7% | 0.10% | −0.03 |
| TDG Transdigm Group Inc. | Reduce -4.6% | 0.12% | −0.03 |
| MRSH Marsh & McLennan Cos | Reduce -4.8% | 0.17% | −0.03 |
| LIN Linde PLC | Reduce -5.2% | 0.37% | −0.03 |
| ADP Automatic Data Processing | Reduce -5.0% | 0.20% | −0.03 |
| SBUX Starbucks Corp. | Reduce -4.7% | 0.16% | −0.03 |
| CHTR Charter Communications Inc. Class A | Reduce -8.4% | 0.04% | −0.03 |
| CARR Carrier Global Corp. | Reduce -5.5% | 0.08% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| PLTR Palantir Technologies Inc. Class A | Add +0.7% | 0.69% | +0.16 |
| RBLX Roblox Corp. Class A | Add +0.8% | 0.13% | +0.03 |
| SOFI Sofi Technologies Inc. | Add +60.1% | 0.05% | +0.03 |
| PDD PDD Holdings Inc. | Add +1.7% | 0.12% | +0.02 |
| RDDT Reddit Inc. Class A | Add +42.8% | 0.04% | +0.02 |
| RKLB Rocket Lab Corp. | Add +67.7% | 0.03% | +0.02 |
| TPR Tapestry Inc. | Add +51.3% | 0.04% | +0.02 |
| ALAB Astera Labs Inc. | Add +4.0% | 0.03% | +0.02 |
| BE Bloom Energy Corp. Class A | Add +7.9% | 0.02% | +0.02 |
| AFRM Affirm Holdings Inc. | Add +60.7% | 0.03% | +0.01 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +5.3% | 0.07% | +0.01 |
| FIX Comfort Systems USA Inc. | Add +2.1% | 0.03% | +0.01 |
| SNDK Sandisk Corp. | Add +1.8% | 0.02% | +0.01 |
| INSM Insmed Inc. | Add +6.9% | 0.03% | +0.01 |
| CIEN Ciena Corp. | Add +0.8% | 0.02% | +0.01 |
| SNPS Synopsys Inc. | Add +14.2% | 0.15% | +0.01 |
| CRDO Credo Technology Group Holdi | Add +3.4% | 0.03% | +0.01 |
| KTOS Kratos Defense & Security | Add +11.5% | 0.02% | +0.01 |
| GRMN Garmin Ltd. | Add +1.3% | 0.07% | +0.01 |
| OKLO Oklo Inc. | Add +67.1% | 0.01% | +0.01 |
| PAAS Pan American Silver Corp. | Add +10.3% | 0.03% | +0.01 |
| ECHO Echostar Corp. Class A | Add +2.0% | 0.01% | +0.01 |
| VNOM Viper Energy Inc. Class A | New | 0.01% | +0.01 |
| UBER Uber Technologies Inc. | Add +0.5% | 0.33% | +0.01 |
| CDE Coeur Mining Inc. | Add +1.7% | 0.01% | +0.01 |
| IONQ Ionq Inc. | Add +17.3% | 0.02% | +0.01 |
| RGTI Rigetti Computing Inc. | Add +14.6% | 0.01% | +0.01 |
| NVMI Nova Ltd. | Add +58.8% | 0.02% | +0.01 |
| PSKY Paramount Skydance Class B | New | 0.01% | +0.01 |
| GLXY Galaxy Digital Inc. Class A | New | 0.01% | +0.01 |
| TLN Talen Energy Corp. | Add +7.9% | 0.02% | +0.01 |
| FTAI Ftai Aviation Ltd. | Add +1.5% | 0.02% | +0.01 |
| OPEN Opendoor Technologies Inc. | Add +8.3% | 0.01% | +0.01 |
| U Unity Software Inc. | Add +3.0% | 0.01% | +0.01 |
| LITE Lumentum Holdings Inc. | Add +1.9% | 0.01% | +0.01 |
| DKS Dick's Sporting Goods Inc. | Add +13.2% | 0.02% | +0.00 |
| RMBS Rambus Inc. | Add +1.5% | 0.01% | +0.00 |
| MP MP Materials Corp. | Add +1.5% | 0.01% | +0.00 |
| COOP Mr Cooper Group Inc. | Add +3.3% | 0.02% | +0.00 |
| NVT Nvent Electric PLC | Add +1.5% | 0.02% | +0.00 |
| SGI Somnigroup International Inc. | Add +8.5% | 0.02% | +0.00 |
| IONS Ionis Pharmaceuticals Inc. | Add +1.6% | 0.01% | +0.00 |
| EQX Equinox Gold Corp. | Add +2.2% | 0.01% | +0.00 |
| BZ Kanzhun Ltd. - ADR | Add +25.8% | 0.01% | +0.00 |
| W Wayfair Inc. Class A | Add +2.9% | 0.01% | +0.00 |
| HL Hecla Mining Co. | Add +1.5% | 0.01% | +0.00 |
| BWXT BWX Technologies Inc. | Add +1.5% | 0.02% | +0.00 |
| QBTS D-Wave Quantum Inc. | Add +8.9% | 0.01% | +0.00 |
| TMUS T-Mobile US Inc. | Add +4.7% | 0.20% | +0.00 |
| IAG Iamgold Corp. | Add +1.7% | 0.01% | +0.00 |
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 |