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Livermore
Livermore
ZHEN

US Bancorp

SEC CIK
0000036104
Latest filing
Aug 12, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Jan 30, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
4,019
+37 vs. Q3 2025
Portfolio value
$85.3B
+$978.3M (+1.2%) vs. Q3 2025
Filed
Jan 30, 2026
SEC
Holdings of US Bancorp in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
Schwab U.S. Large-Cap ETF808524201ETF201,085,961$5.41B6.3%−4,565,004−2.2%Reduced–
iShares Core U.S. Aggregate Bond ETF464287226ETF42,844,111$4.28B5.0%+489,837+1.2%Added–
iShares Core S&P 500 ETF464287200ETF5,727,682$3.92B4.6%−295,714−4.9%Reduced–
iShares Core MSCI Eafe ETF46432F842ETF35,119,123$3.14B3.7%−332,556−0.9%Reduced–
SPYSPDR S&P 500 ETF TrustETF4,243,742$2.89B3.4%−63,797−1.5%ReducedHistory
AAPLApple Inc.Stock10,284,947$2.80B3.3%−157,871−1.5%ReducedHistory
MSFTMicrosoft CorpStock5,405,764$2.61B3.1%−31,101−0.6%ReducedHistory
iShares Core MSCI Emerging Markets ETF46434G103ETF28,941,277$1.95B2.3%+529,252+1.9%Added–
GOOGLAlphabet Inc.Stock6,031,952$1.89B2.2%−59,342−1.0%ReducedHistory
NVDANVIDIA CorpStock8,016,470$1.50B1.8%−32,564−0.4%ReducedHistory
LLYEli Lilly & CoStock1,370,129$1.47B1.7%−3,919−0.3%ReducedHistory
Vanguard Morningstar Mid-Cap ETF922908629ETF5,044,044$1.46B1.7%+433,401+9.4%Added–
AMZNAmazon Com IncStock5,779,623$1.33B1.6%+22,471+0.4%AddedHistory
iShares Russell Midcap ETF464287499ETF12,928,971$1.24B1.5%−710,695−5.2%Reduced–
JPMJPMorgan Chase & CoStock3,584,075$1.15B1.4%−71,517−2.0%ReducedHistory
iShares Tr464288877EAFE VALUE ETF14,206,660$1.01B1.2%+210,510+1.5%Added–
iShares Core MSCI Total International Stock ETF46432F834ETF11,314,184$957.6M1.1%+3,242,686+40.2%Added–
Invesco QQQ Trust Series I46090E103ETF1,366,550$839.5M1.0%−11,507−0.8%Reduced–
Vanguard Ftse Developed Markets ETF921943858ETF11,411,762$712.9M0.8%−139,406−1.2%Reduced–
Vanguard Morningstar Total Stock Market ETF922908769ETF2,079,574$697.2M0.8%−19,203−0.9%Reduced–
iShares MSCI Eafe ETF464287465ETF7,186,981$690.2M0.8%−210,919−2.9%Reduced–
Schwab U.S. REIT ETF808524847ETF32,751,460$684.2M0.8%+672,570+2.1%Added–
METAMeta Platforms, Inc.Stock1,012,763$668.5M0.8%+60,241+6.3%AddedHistory
BRK.ABerkshire Hathaway IncCL A859$648.4M0.8%−41−4.6%ReducedHistory
WMTWalmart Inc.Stock5,601,651$624.1M0.7%−138,729−2.4%ReducedHistory
Vanguard Total World Stock ETF922042742ETF4,237,931$597.8M0.7%+263,745+6.6%Added–
GOOGAlphabet Inc.Stock1,902,067$596.9M0.7%−36,984−1.9%ReducedHistory
BRK.BBerkshire Hathaway IncStock1,177,551$591.9M0.7%−115,976−9.0%ReducedHistory
MDYSPDR S&P Midcap 400 ETF TrustETF980,650$591.6M0.7%−17,460−1.7%ReducedHistory
iShares Core S&P Small Cap ETF464287804ETF4,898,843$588.7M0.7%−69,392−1.4%Reduced–
iShares Russell 2000 ETF464287655ETF2,309,585$568.5M0.7%−293,708−11.3%Reduced–
iShares Tr464288414NATIONAL MUN ETF5,229,521$560.1M0.7%−66,020−1.2%Reduced–
ABBVAbbVie Inc.Stock2,358,212$538.8M0.6%−41,982−1.7%ReducedHistory
Vanguard Scottsdale FDS92206C664VNG RUS2000IDX5,260,478$523.5M0.6%+358,891+7.3%Added–
JNJJohnson & JohnsonStock2,489,519$515.2M0.6%−42,117−1.7%ReducedHistory
PGProcter & Gamble CoStock3,556,370$509.7M0.6%−119,262−3.2%ReducedHistory
MAMastercard IncStock881,164$503.0M0.6%+2,371+0.3%AddedHistory
HDHome Depot, Inc.Stock1,365,629$469.9M0.6%−31,592−2.3%ReducedHistory
iShares Russell 1000 Growth ETF464287614ETF978,071$462.9M0.5%+36,872+3.9%Added–
Vanguard Real Estate ETF922908553ETF5,128,192$453.8M0.5%−48,114−0.9%Reduced–
COSTCostco Wholesale CorpStock517,948$446.7M0.5%+3,413+0.7%AddedHistory
AVGOBroadcom Inc.Stock1,258,662$435.6M0.5%+11,840+0.9%AddedHistory
XOMExxonMobil Holdings CorpCOM3,389,754$407.9M0.5%−48,972−1.4%ReducedHistory
Vanguard Ftse Emerging Markets ETF922042858ETF7,491,430$402.7M0.5%+30,442+0.4%Added–
State Street Technology Select Sector SPDR ETF81369Y803ETF2,754,722$396.6M0.5%−36,782−1.3%ReducedConverted for a 2-for-1 split–
PCARPaccar IncCOM3,604,281$394.7M0.5%+1,4070.0%AddedHistory
BACBank of America CorpStock7,095,289$390.2M0.5%−158,198−2.2%ReducedHistory
USBUS Bancorp DECOM NEW7,095,051$378.6M0.4%−102,224−1.4%ReducedHistory
MMM3M CoStock2,248,446$360.0M0.4%+95,938+4.5%AddedHistory
ABTAbbott LaboratoriesStock2,779,141$348.2M0.4%−53,411−1.9%ReducedHistory
UNHUnitedHealth Group IncStock1,039,878$343.3M0.4%+14,005+1.4%AddedHistory
iShares Core S&P Mid-Cap ETF464287507ETF5,088,696$335.9M0.4%−86,522−1.7%Reduced–
Schwab International Equity ETF808524805ETF13,933,424$335.0M0.4%−99,565−0.7%Reduced–
VVisa Inc.Stock949,685$333.1M0.4%−5,854−0.6%ReducedHistory
GLDSPDR Gold TrustETF833,104$330.2M0.4%+35,729+4.5%AddedHistory
CVXChevron CorpStock2,133,479$325.2M0.4%−32,837−1.5%ReducedHistory
Vanguard S&P 500 ETF922908363ETF491,976$308.5M0.4%−9,736−1.9%Reduced–
ORCLOracle CorpStock1,573,278$306.6M0.4%−19,956−1.3%ReducedHistory
iShares Russell Mid-Cap Value ETF464287473ETF2,089,915$294.8M0.3%−99,415−4.5%Reduced–
KOCoca Cola CoStock4,156,858$290.6M0.3%−49,377−1.2%ReducedHistory
iShares Tr464287622RUS 1000 ETF775,933$289.8M0.3%+24,711+3.3%Added–
CSCOCisco Systems, Inc.Stock3,754,419$289.2M0.3%−68,203−1.8%ReducedHistory
MCDMcDonalds CorpStock921,978$281.8M0.3%−24,536−2.6%ReducedHistory
CATCaterpillar IncStock490,854$281.2M0.3%−15,194−3.0%ReducedHistory
ECLEcolab Inc.Stock1,061,489$278.7M0.3%+43,745+4.3%AddedHistory
MPCMarathon Petroleum CorpStock1,607,011$261.3M0.3%−48,050−2.9%ReducedHistory
MUMicron Technology IncStock914,092$260.9M0.3%−53,636−5.5%ReducedHistory
EMREmerson Electric CoStock1,960,158$260.2M0.3%−62,931−3.1%ReducedHistory
ACNAccenture plcStock961,922$258.1M0.3%−100,212−9.4%ReducedHistory
PANWPalo Alto Networks IncStock1,371,066$252.6M0.3%+6,624+0.5%AddedHistory
AMDAdvanced Micro Devices IncStock1,125,865$241.1M0.3%−44,467−3.8%ReducedHistory
WFCWells Fargo & CompanyStock2,499,475$233.0M0.3%+160,872+6.9%AddedHistory
PEPPepsiCo IncStock1,604,726$230.3M0.3%−56,720−3.4%ReducedHistory
SCHWSchwab Charles CorpStock2,294,369$229.2M0.3%−5,416−0.2%ReducedHistory
NEENextera Energy IncStock2,783,743$223.5M0.3%−96,590−3.4%ReducedHistory
BLKBlackRock, Inc.Stock207,862$222.5M0.3%−2,443−1.2%ReducedHistory
AMGNAmgen IncStock668,068$218.7M0.3%−19,383−2.8%ReducedHistory
iShares Russell Mid-Cap Growth ETF464287481ETF1,584,378$217.0M0.3%+16,882+1.1%Added–
Schwab Emerging Markets Equity ETF808524706ETF6,543,475$214.3M0.3%+32,697+0.5%Added–
QCOMQualcomm IncStock1,207,914$206.6M0.2%−30,266−2.4%ReducedHistory
CBChubb LtdStock572,278$178.6M0.2%−12,154−2.1%ReducedHistory
iShares Tr464287234MSCI EMG MKT ETF3,248,348$177.7M0.2%−58,945−1.8%Reduced–
Vanguard Mun BD FDS922907746TAX EXEMPT BD3,508,879$176.5M0.2%−147,427−4.0%Reduced–
Vanguard Index FDS922908652EXTEND MKT ETF840,415$175.7M0.2%−142,520−14.5%Reduced–
UNPUnion Pacific CorpStock758,943$175.6M0.2%−20,538−2.6%ReducedHistory
iShares Russell 1000 Value ETF464287598ETF824,090$173.3M0.2%+55,496+7.2%Added–
AXPAmerican Express CoStock459,206$169.9M0.2%−1,705−0.4%ReducedHistory
Schwab US Tips ETF808524870ETF6,404,227$169.6M0.2%−9,861,452−60.6%Reduced–
RTXRTX CorpStock923,047$169.3M0.2%+2270.0%AddedHistory
TSLATesla, Inc.Stock374,402$168.4M0.2%+7,270+2.0%AddedHistory
MRKMerck & Co., Inc.Stock1,580,821$166.4M0.2%−52,426−3.2%ReducedHistory
HONHoneywell International IncCOM822,333$160.4M0.2%−25,571−3.0%ReducedHistory
iShares Tr464288521CRE U S REIT ETF2,811,846$160.2M0.2%−38,478−1.3%Reduced–
IBMInternational Business Machines CorpStock540,528$160.1M0.2%+2,492+0.5%AddedHistory
Vanguard Morningstar Value ETF922908744ETF831,903$158.9M0.2%−8,271−1.0%Reduced–
NOWServiceNow, Inc.Stock1,036,435$158.8M0.2%−9,460−0.9%ReducedConverted for a 5-for-1 splitHistory
iShares Select Dividend ETF464287168ETF1,111,508$156.9M0.2%−18,634−1.6%Reduced–
SPDR Series Trust78468R606ST PORT HIGH ETF6,510,583$154.1M0.2%+841,165+14.8%Added–
AMTAmerican Tower CorpREIT877,243$154.0M0.2%−98,868−10.1%ReducedHistory
AMATApplied Materials IncStock593,397$152.5M0.2%−24,643−4.0%ReducedHistory

Options (15)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of US Bancorp in Q4 2025
SecurityClassPutsCalls
AAPLApple Inc.Stock$92.4K–
Invesco Exchange Traded FD T46137V357S&P500 EQL WGT$54.9K–
NVDANVIDIA CorpStock–$50.9K
ADPAutomatic Data Processing IncStock$40.1K–
SPYSPDR S&P 500 ETF TrustETF$26.8K–
LLYEli Lilly & CoStock$6.60K–
PPLTabrdn Platinum ETF TrustPHYSCL PLATM SHS–$3.29K
Direxion Shs ETF Tr25490K596DALY HOM B&S BUL–$2.52K
MMM3M CoStock$1.91K–
BOXBox IncCL A$1.00K–
EMREmerson Electric CoStock$441–
MSFTMicrosoft CorpStock$403–
iShares MSCI Eafe ETF464287465ETF$130–
iShares Tr464287234MSCI EMG MKT ETF$124–
JNJJohnson & JohnsonStock$8–

Sold out since Q3 2025 (206)

Positions held at the end of Q3 2025 that are gone from this filing.

The largest 100 of 206 by value last quarter.

Positions of US Bancorp sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
iShares Ibonds Dec 2025 Term Corporate ETF46434VBD1ETF650,307$16.4M<0.1%–
iShares Tr46435U432IBONDS DEC 25498,969$13.4M<0.1%–
ULUnilever PLCSPON ADR NEW153,258$9.09M<0.1%History
KKellanovaStock43,979$3.61M<0.1%History
Ea Series Trust02072L565ALPHA ARCH 1-317,769$2.02M<0.1%–
ALEAllete IncCOM NEW25,347$1.68M<0.1%History
WNSWNS (Holdings) LtdCOM SHS16,776$1.28M<0.1%History
J P Morgan Exchange Traded F46654Q716ACTIVE BOND ETF16,925$916.7K<0.1%–
IPGInterpublic Group of Companies, Inc.COM30,396$848.3K<0.1%History
VRNAVerona Pharma plcSPONSORED ADS6,762$721.6K<0.1%History
COOPMaverick Merger Sub 2, LLCCOM2,284$481.4K<0.1%History
Vanguard Instl Index FD9220408450 3 MO TR BI ETF5,834$441.1K<0.1%–
Invesco Exch TRD SLF Idx FD46138J825BULSHS 2025 CB21,012$434.7K<0.1%–
MRUSMerus N.V.COM3,993$375.9K<0.1%History
First Tr Exchange-Traded FD33733A201DOW 30 EQL WGT8,428$336.6K<0.1%–
GHIGreystone Housing Impact Investors LPBEN UNIT CTF30,294$312.0K<0.1%History
SPRSpirit AeroSystems Holdings, Inc.COM CL A6,133$236.7K<0.1%History
NCANuveen California Municipal Value FundCOM STK25,867$230.2K<0.1%History
iShares Tr46436E33820+ YEAR TR BD8,684$203.0K<0.1%–
Copel-ADR20441B605ADR19,189$188.1K<0.1%–
Aris Water Solutions, Inc.04041L106CLASS A COM7,321$180.5K<0.1%–
AKROAkero Therapeutics, Inc.COM3,664$174.0K<0.1%History
AAAUGoldman Sachs Physical Gold ETFUNIT4,139$157.8K<0.1%History
OBDCBlue Owl Capital CorpCOM11,310$144.4K<0.1%History
Nuveen Calif Select Tax Free67063R103SH BEN INT11,034$143.2K<0.1%–
ENXEaton Vance New York Municipal Bond FundCOM14,294$140.9K<0.1%History
MXCTMaxcyte, Inc.COM86,700$137.0K<0.1%History
Dimensional ETF Trust25434V872CORE FIXE IN ETF2,889$123.5K<0.1%–
Tidal ETF Tr88634T824II YIELDMAX COIN OP13,499$92.9K<0.1%–
LNWOLight & Wonder, Inc.COM1,081$90.7K<0.1%History
INFAInformatica Inc.COM CL A3,521$87.5K<0.1%History
Yieldmax MSTR Option Income Strategy ETF88634T493ETF5,894$82.3K<0.1%–
American Centy ETF Tr025072562AVANTIS CORE FI1,954$82.2K<0.1%–
HTDJohn Hancock Tax-Advantaged Dividend Income FundCOM3,201$79.4K<0.1%History
HBIHanesbrands Inc.COM11,783$77.7K<0.1%History
HPSJohn Hancock Preferred Income Fund IIICOM4,396$67.9K<0.1%History
Vanguard Scottsdale FDS92206C573TOTAL CORP BND843$66.1K<0.1%–
PGREParamount Group, Inc.COM9,306$60.9K<0.1%History
WIWWestern Asset Inflation-Linked Opportunities & Income FundCEF6,746$60.0K<0.1%History
MSDLMorgan Stanley Direct Lending FundCOM SHS3,707$59.6K<0.1%History
Tidal Tr II88636J444YIELDMAX TSLA OP5,881$55.5K<0.1%–
NBHNeuberger Municipal Fund Inc.COM4,803$49.6K<0.1%History
WisdomTree Tr97717X511YIELD ENHANCD US1,114$49.3K<0.1%–
Invesco Exch Traded FD Tr II46138E206CALIF AMT MUN2,055$49.2K<0.1%–
NMFCNew Mountain Finance CorpCOM5,000$48.2K<0.1%History
PINCPremier, Inc.CL A1,724$47.9K<0.1%History
GDVGabelli Dividend & Income TrustCOM1,603$43.5K<0.1%History
JANXJanux Therapeutics, Inc.COM1,774$43.4K<0.1%History
ETWEaton Vance Tax-Managed Global Buy-Write Opportunities FundCOM4,500$40.7K<0.1%History
Invesco Exch TRD SLF Idx FD46138J742RAFI STRATGIC US737$40.7K<0.1%–
Capital Grp Fixed Incm ETF T14020Y102CORE PLUS INCM1,784$40.5K<0.1%–
Centrais Eletricas Brasileir15234Q108SPON ADR PFD B3,843$39.8K<0.1%–
Strategy Shares Nasdaq 7HANDL Index ETF86280R506ETF1,750$39.0K<0.1%–
Flexshares Tr33939L100MORNSTAR USMKT141$34.2K<0.1%–
Bitfarms Ltd Com09173B107Stock12,000$33.8K<0.1%–
HSIIHeidrick & Struggles International IncCOM679$33.8K<0.1%History
NMAINuveen Multi-Asset Income FundCOM2,500$32.5K<0.1%History
Principal Exchange Traded FD74255Y888SPECTRUM PFD1,600$30.6K<0.1%–
KLARKlarna Group plcStock818$30.0K<0.1%History
IAUMiShares Gold Trust MicroSHS REPSTG UN TR734$28.3K<0.1%History
First Tr Ftse Epra / Nareit33736N101COM700$27.6K<0.1%–
NEXTNextDecade CorpCOM3,890$26.4K<0.1%History
VXXBarclays Bank PLCIPATH S&P 500 SH795$26.4K<0.1%History
VTLEVital Energy, Inc.COM1,542$26.0K<0.1%History
Invesco Exchange Traded FD T46137V886DWA STAPLES228$25.1K<0.1%–
ODPODP CorpCOM895$24.9K<0.1%History
Innovator ETFs Trust45782C474US SML CP PWR B572$23.1K<0.1%–
NTSKNetskope IncCL A1,000$22.7K<0.1%History
SRDXSurmodics IncCOM748$22.4K<0.1%History
PINEAlpine Income Property Trust, Inc.COM1,565$22.2K<0.1%History
iShares U.S. ETF Trust iShares Gsci Commodity Dynamic Roll Strategy ETF46431W853ETF753$20.2K<0.1%–
WisdomTree Tr97717W547US VALUE FD220$20.0K<0.1%–
HUYAHUYA Inc.ADS REP SHS A5,972$19.9K<0.1%History
USCIUnited States Commodity Index Funds TrustCOMM IDX FND239$18.6K<0.1%History
NDLSNOODLES & CoCOM CL A29,000$18.4K<0.1%History
GSBDGoldman Sachs BDC, Inc.SHS1,625$16.5K<0.1%History
JFRNuveen Floating Rate Income FundCOM2,000$16.4K<0.1%History
Global X FDS37954Y459RUSSELL 20001,051$15.8K<0.1%–
Invesco Exch Traded FD Tr II46138E594KBW PREM YIELD978$15.6K<0.1%–
BLBDBlue Bird CorpCOM267$15.4K<0.1%History
First Tr Exchange-Traded Alp33733C108SHS ISSUED FRST175$15.3K<0.1%–
iShares Tr46436E866IBONDS 25 TRM TS650$15.2K<0.1%–
STUBStubHub Holdings, Inc.CL A826$13.9K<0.1%History
ZIMVZimVie Inc.Stock722$13.7K<0.1%History
UVXYProShares Trust IIULTRA VIX SHORT1,300$13.6K<0.1%History
VMEOVimeo, Inc.COMMON STOCK1,644$12.7K<0.1%History
First Tr Exchng Traded FD VI33744U303CONFLUENCE BDC580$11.5K<0.1%–
SMHISEACOR Marine Holdings Inc.COM1,648$10.7K<0.1%History
MTRXMatrix Service CoCOM761$9.95K<0.1%History
WisdomTree Tr97717X701EUROPE HEDGED EQ196$9.88K<0.1%–
BlackRock ETF Trust09290C848ISHARES INTL DIV335$9.38K<0.1%–
iShares Ibonds 2025 Term High Yield & Income ETF46435U168ETF400$9.29K<0.1%–
Alps ETF Tr00162Q106REIT DIVIDE DOGS252$9.20K<0.1%–
SPDR Series Trust78464A516ST INTL BBG ETF395$9.09K<0.1%–
WLKPWestlake Chemical Partners LPCOM UNIT RP LP431$9.05K<0.1%History
AMSFAmerisafe IncCOM199$8.72K<0.1%History
Invesco Exch Traded FD Tr II46138G524ALERIAN GLXY BLK265$7.81K<0.1%–
Dimensional ETF Trust25434V617WORLD EQUITY ETF108$7.76K<0.1%–
SCSSteelcase IncCL A449$7.72K<0.1%History
DHDefinitive Healthcare Corp.CLASS A COM1,892$7.68K<0.1%History