US BANCORP \DE\
Long book
$82.39B
Q1 2026
Positions
4132
Top-10 weight
33%
concentration
Last quarter
+12.9%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsUS BANCORP \DE\ is a wealth-management firm allocating client money, running a $82.39B US long book across 4132 positions.
The portfolio is moderately concentrated (top 10 ≈ 33% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ISHARES CORE U.S. AGGREGATE, ISHARES CORE S&P 500 ETF, SCHWAB US LARGE-CAP ETF, ISHARES CORE MSCI EAFE ETF, SS SPDR S&P 500 ETF TRUST-US.
Over the last 9 quarters its long book ran on average 0.6pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.9%
Q2 2024
+6.4%
Q3 2024
-0.7%
Q4 2024
-1.4%
Q1 2025
+8.0%
Q2 2025
+6.7%
Q3 2025
+2.9%
Q4 2025
-1.9%
Q1 2026
+12.9%
Sector allocation
Technology 34%
Financials 14%
Healthcare 11%
Consumer discretionary 11%
Industrials 10%
Energy 5%
Services media 4%
Other 3%
Long book by quarter
What does US BANCORP own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 10.1M | $2.57B | 3.1% | -1.5% |
| MSFT MICROSOFT CORP | Technology | 5.5M | $2.02B | 2.4% | +0.9% |
| GOOGL ALPHABET INC-CL A | Technology | 6.0M | $1.71B | 2.1% | -1.3% |
| NVDA NVIDIA CORP | Technology | 8.1M | $1.41B | 1.7% | +0.6% |
| LLY ELI LILLY & CO | Healthcare | 1.4M | $1.25B | 1.5% | -0.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 5.9M | $1.23B | 1.5% | +1.8% |
| JPM JPMORGAN CHASE & CO | Financials | 3.5M | $1.04B | 1.3% | -1.8% |
| WMT WALMART INC | Consumer discretionary | 5.5M | $681.3M | 0.8% | -2.1% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 861 | $618.3M | 0.8% | +0.2% |
| JNJ JOHNSON & JOHNSON | Healthcare | 2.5M | $609.2M | 0.7% | +0.1% |
| META META PLATFORMS INC-CLASS A | Technology | 1.0M | $597.3M | 0.7% | +3.1% |
| XOM EXXON MOBIL CORP | Energy | 3.3M | $561.8M | 0.7% | -2.3% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 1.2M | $560.4M | 0.7% | -0.7% |
| GOOG ALPHABET INC-CL C | Technology | 1.8M | $527.3M | 0.6% | -3.4% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 512.5K | $510.7M | 0.6% | -1.0% |
| ABBV ABBVIE INC | Healthcare | 2.3M | $506.5M | 0.6% | -1.2% |
| PG PROCTER & GAMBLE CO/THE | Other | 3.4M | $486.7M | 0.6% | -5.2% |
| HD HOME DEPOT INC | Consumer discretionary | 1.3M | $435.5M | 0.5% | -3.0% |
| CVX CHEVRON CORP | Energy | 2.1M | $431.0M | 0.5% | -2.4% |
| MA MASTERCARD INC - A | Services media | 859.4K | $429.4M | 0.5% | -2.5% |
| PCAR PACCAR INC | Industrials | 3.6M | $416.1M | 0.5% | 0.0% |
| AVGO BROADCOM INC | Technology | 1.3M | $388.7M | 0.5% | -0.2% |
| MPC MARATHON PETROLEUM CORP | Energy | 1.5M | $378.1M | 0.5% | -3.6% |
| USB US BANCORP | Financials | 7.0M | $361.8M | 0.4% | -1.9% |
| BAC BANK OF AMERICA CORP | Financials | 7.0M | $342.8M | 0.4% | -0.9% |
| CAT CATERPILLAR INC | Industrials | 479.5K | $339.7M | 0.4% | -2.3% |
| MMM 3M CO | Healthcare | 2.2M | $321.7M | 0.4% | -1.5% |
| KO COCA-COLA CO/THE | Consumer staples | 4.1M | $315.5M | 0.4% | -0.2% |
| MU MICRON TECHNOLOGY INC | Technology | 856.1K | $289.2M | 0.4% | -6.3% |
| CSCO CISCO SYSTEMS INC | Technology | 3.7M | $287.7M | 0.3% | -1.2% |
| ECL ECOLAB INC | Other | 1.1M | $283.2M | 0.3% | +0.3% |
| MCD MCDONALD'S CORP | Consumer discretionary | 909.8K | $282.7M | 0.3% | -1.3% |
| ABT ABBOTT LABORATORIES | Healthcare | 2.7M | $278.0M | 0.3% | -2.6% |
| V VISA INC-CLASS A SHARES | Services media | 909.9K | $275.0M | 0.3% | -4.2% |
| UNH UNITEDHEALTH GROUP INC | Financials | 1.0M | $273.9M | 0.3% | -2.7% |
| NEE NEXTERA ENERGY INC | Utilities | 2.8M | $261.2M | 0.3% | +1.0% |
| EMR EMERSON ELECTRIC CO | Industrials | 1.9M | $254.1M | 0.3% | -1.1% |
| PEP PEPSICO INC | Consumer staples | 1.6M | $246.2M | 0.3% | -1.2% |
| AMGN AMGEN INC | Healthcare | 667.1K | $234.7M | 0.3% | -0.2% |
| AMD ADVANCED MICRO DEVICES | Technology | 1.1M | $228.4M | 0.3% | -0.3% |
| ORCL ORACLE CORP | Technology | 1.5M | $227.4M | 0.3% | -1.8% |
| PANW PALO ALTO NETWORKS INC | Technology | 1.4M | $220.1M | 0.3% | +0.2% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 2.3M | $215.2M | 0.3% | -0.2% |
| WFC WELLS FARGO & CO | Financials | 2.5M | $199.9M | 0.2% | +0.4% |
| AMAT APPLIED MATERIALS INC | Technology | 569.7K | $194.7M | 0.2% | -4.0% |
| BLK BLACKROCK INC | Financials | 199.9K | $192.3M | 0.2% | -3.8% |
| MRK MERCK & CO. INC. | Healthcare | 1.6M | $187.0M | 0.2% | -1.6% |
| CB CHUBB LTD | Financials | 569.6K | $185.6M | 0.2% | -0.5% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 801.6K | $181.2M | 0.2% | -2.5% |
| ACN ACCENTURE PLC-CL A | Services media | 912.8K | $181.0M | 0.2% | -5.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 8287 | $82.39B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 30, 2026 | 9649 | $85.35B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 9529 | $84.38B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 24, 2025 | 9904 | $79.44B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 8, 2025 | 10035 | $74.85B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 5, 2025 | 9837 | $76.38B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 28, 2024 | 9691 | $77.88B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 7, 2024 | 9421 | $73.36B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 8, 2024 | 9080 | $71.75B | canonical | SEC ↗ |
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