Swiss National Bank

Q4 2025 13F-HR Holdings

Location
Zurich, V8
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
2,311
Total value ($000)
$168,006,575
Net value change ($000)
-4,346,912 (-2.5%)
New positions
79
Sold out positions
83
Turnover %
0.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GOOGL 910,954 22.3%
GOOGL 753,094 21.8%
LLY 597,312 33.7%
MU 338,135 62.6%
B 196,999 NEW
AMD 196,178 25.9%
MRK 112,836 18.6%
LRCX 97,814 19.8%
ISRG 94,314 20.4%
AAPL 92,866 0.8%
Top Reduces (Value $000, Stocks/ETFs)
MSFT -1,183,926 -11.2%
NVDA -704,386 -5.4%
META -671,322 -14.6%
ORCL -459,821 -33.5%
NFLX -379,076 -25.8%
TSLA -233,052 -6.3%
HD -223,504 -19.2%
COST -136,048 -11.5%
MSTR -133,761 -55.2%
PG -119,279 -11.5%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type