Stats Global markets and exchanges State ownership

The Swiss National Bank owns $173.8bn of US shares

Q4 2013: 25.6bn25.6bnQ4 2013Q3 2025: 172.4bn172.4bnQ3 2025Q4 2025: 168bn168bnQ4 2025Q1 2026: 173.8bn173.8bnQ1 2026

The bank has filed as a US institutional investment manager every quarter since late 2013, when the portfolio was about $25.6 billion. Source: SEC filings.

Some of the largest shareholders in the world are states rather than investors. The Swiss National Bank holds 173.8 billion dollars of US shares across 2,301 positions, purely as a side effect of currency policy. Nobody in that chain formed a view on the companies.

$173.8 billionSNB's US shares
2,301Separate holdings
about 7% of TokyoBank of Japan's ETF share
about 112Years to sell it all

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