Finance
Swiss National Bank Defends Investment Approach After Calls to Ditch Palantir Stake
Published by Global Banking & Finance Review®
Posted on April 24, 2026
2 min readLast updated: April 24, 2026
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Swiss National Bank chair Martin Schlegel defended the SNB’s market‑neutral, passive investment strategy on April 24, affirming that exclusions apply to companies violating human rights, environmental norms, or producing banned weapons, and stressed the portfolio’s role in supporting monetary policy
Swiss National Bank Defends Its Investment Approach Amid Palantir Stake Criticism
SNB Faces Scrutiny Over Palantir Investment
By John Revill
Background on the Controversy
Bern, April 24 (Reuters) - Swiss National Bank Chairman Martin Schlegel defended the central bank's investment approach on Friday, after campaigners from Minneapolis called on the central bank to offload its $1.1 billion investment in Palantir Technologies.
SNB's Investment Philosophy
Monetary Policy and Portfolio Structure
Schlegel said he could not comment on individual stocks but said the SNB's massive foreign currency portfolio was designed to serve its monetary policy.
Long-Term Value and Market-Neutral Approach
The bank's investments must be available at all times and preserve their value over the long term, Schlegel said, while with equities the SNB followed a market-neutral approach.
Diversification and Risk Management
"We weight companies according to their market weight or market capitalization, in order to cover the market as broadly as possible and also to diversify risks," Schlegel said.
Ethical Considerations and Exclusions
Still, the SNB did exclude companies that systematically cause severe environmental damage, violate fundamental human rights or produce banned weapons, he added.
"Naturally, we work with external specialists who carry out the screening for us and also make the corresponding assessments," Schlegel said.
"I believe this process is very robust," he said, adding the situation with companies was not always clear in one direction or the other.
"There are shades of grey, and there are even other colours as well," Schlegel said.
(Reporting by John Revill, Editing by Miranda Murray)
Key Takeaways
- •SNB holds a US$1.1 billion stake in Palantir as part of its 725 billion CHF foreign‑currency reserves, reflecting market‑cap weighting, not active picking.
- •SNB excludes companies that grossly violate human rights, severely harm the environment, or produce internationally condemned weapons, based on external screening firms.
- •Equity holdings are managed passively and market‑neutrally to ensure liquidity and preservation of value, with monetary policy taking precedence over investment decisions.
Frequently Asked Questions about Swiss National Bank defends investment approach after calls to ditch Palantir stake
1Why is the Swiss National Bank being urged to offload its Palantir stake?
Campaigners from Minneapolis called on the SNB to sell its $1.1 billion investment in Palantir Technologies.
2What investment approach does the Swiss National Bank follow?
The SNB uses a market-neutral approach, weighting companies by market capitalization to diversify risks.
3Does the SNB exclude any companies from its investment portfolio?
Yes, the SNB excludes firms that cause severe environmental damage, violate human rights, or produce banned weapons.
4How does the SNB screen companies for its portfolio?
The SNB works with external specialists to screen and assess companies for its investments.
5What is the main purpose of the SNB's foreign currency portfolio?
The portfolio is designed to serve the bank's monetary policy and must be liquid and preserve value over the long term.
