Key insights
- The Swiss National Bank's US stock holdings increased to $173.8 billion in Q1, driven by investments in large-cap tech like Nvidia, Apple, and Microsoft. This indicates continued confidence in the US equity market, but the overall impact is limited as it represents a small portion of total market capitalization.
Investing.com -- The Swiss National Bank’s foreign-exchange reserves held in US stocks increased approximately 3% in the first quarter, reaching $173.8 billion as of March 30, according to a filing with the Securities and Exchange Commission published Thursday.
The figure represents the largest level in four years and the second-biggest on record for the central bank. The peak was slightly over $177 billion in March 2022.
The SNB maintains stakes in more than 2,300 US-listed companies, holding just over a quarter of its foreign-currency reserves in equities, with a portion allocated to American stocks.
The three largest holdings are Nvidia Corp (NASDAQ:NVDA), Apple Inc (NASDAQ:AAPL), and Microsoft Corp (NASDAQ:MSFT). The central bank also owns a $981 million stake in defense software company Palantir Technologies Inc (NYSE:PLTR), despite facing protests against the investment.
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