U.S. Bancorp
US ˙ NYSE ˙ US9029733048

SecurityUSB / U.S. Bancorp
InstitutionTocqueville Asset Management L.p.
Latest Disclosed Ownership302,899 shares
Latest Disclosed Value $ 15,753,777
Tocqueville Asset Management L.p. reports 46.52% decrease in ownership of USB / U.S. Bancorp

On May 12, 2026 - Tocqueville Asset Management L.p. filed a 13F-HR form disclosing ownership of 302,899 shares of U.S. Bancorp (US:USB) valued at $15,753,777 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 566,418 shares of U.S. Bancorp. This represents a change in shares of -46.52% during the quarter. The current value of the position is $16,868,445 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F US BANCORP DEL COM NEW 902973304 302,899 -263,519 -46.52 15,754 -47.88 0.2336
2026-02-12 2025-12-31 13F US BANCORP DEL COM NEW 902973304 566,418 8,232 1.47 30,224 12.04 0.4409
2025-11-13 2025-09-30 13F US BANCORP DEL COM NEW 902973304 558,186 12,790 2.35 26,977 9.31 0.3922
2025-08-12 2025-06-30 13F US BANCORP DEL COM NEW 902973304 545,396 8,415 1.57 24,679 8.86 0.3757
2025-05-13 2025-03-31 13F US BANCORP DEL COM NEW 902973304 536,981 3,916 0.73 22,671 -11.08 0.3702
2025-02-10 2024-12-31 13F US BANCORP DEL COM NEW 902973304 533,065 1,853 0.35 25,496 4.96 0.3999
2024-11-08 2024-09-30 13F US BANCORP DEL COM NEW 902973304 531,212 11,700 2.25 24,292 17.79 0.3816
2024-08-12 2024-06-30 13F US BANCORP DEL COM NEW 902973304 519,512 -161,711 -23.74 20,625 -32.27 0.3404
2024-05-09 2024-03-31 13F US BANCORP DEL COM NEW 902973304 681,223 -1,442 -0.21 30,451 3.06 0.4975
2024-02-12 2023-12-31 13F US BANCORP DEL COM NEW 902973304 682,665 -15,000 -2.15 29,546 28.10 0.5356
2023-11-09 2023-09-30 13F US BANCORP DEL COM NEW 902973304 697,665 19,400 2.86 23,065 2.92 0.4381
2023-08-11 2023-06-30 13F US BANCORP DEL COM NEW 902973304 678,265 382,782 129.54 22,410 110.37 0.4013
2023-05-10 2023-03-31 13F US BANCORP DEL COM NEW 902973304 295,483 -3,161 -1.06 10,652 -18.21 0.2012
2023-02-09 2022-12-31 13F US BANCORP DEL COM NEW 902973304 298,644 0 0.00 13,024 8.16 0.2474
2022-11-10 2022-09-30 13F US BANCORP DEL COM NEW 902973304 298,644 0 0.00 12,041 -12.39 0.2454
2022-08-12 2022-06-30 13F US BANCORP DEL COM NEW 902973304 298,644 13,080 4.58 13,744 -9.45 0.2513
2022-05-16 2022-03-31 13F US Bancorp COM 902973304 285,564 22,640 8.61 15,178 2.78 0.2293
2022-02-14 2021-12-31 13F US BANCORP DEL COM NEW 902973304 262,924 -150 -0.06 14,768 -5.56 0.2031
2021-11-15 2021-09-30 13F US BANCORP DEL COM NEW 902973304 263,074 370 0.14 15,637 4.48 0.2317
2021-08-16 2021-06-30 13F US BANCORP DEL COM NEW 902973304 262,704 -725 -0.28 14,966 2.72 0.2162
2021-05-17 2021-03-31 13F US BANCORP DEL COM NEW 902973304 263,429 36,256 15.96 14,570 37.66 0.2242
2021-02-16 2020-12-31 13F US BANCORP DEL COM NEW 902973304 227,173 -2,304 -1.00 10,584 28.65 0.1767
2020-11-16 2020-09-30 13F US BANCORP COM 902973304 229,477 -17,385 -7.04 8,227 -9.48 0.1574
2020-08-12 2020-06-30 13F US BANCORP DEL COM NEW 902973304 246,862 -179,086 -42.04 9,089 -38.06 0.1895
2020-05-15 2020-03-31 13F US BANCORP DEL COM 902973304 425,948 -5,275 -1.22 14,674 -42.61 0.3646
2020-01-14 2019-12-31 13F US Bancorp COM 902973304 431,223 -9,614 -2.18 25,567 4.80 0.3760
2019-10-31 2019-09-30 13F US Bancorp COM 902973304 440,837 -23,748 -5.11 24,396 0.21 0.3310
2019-07-31 2019-06-30 13F US Bancorp COM 902973304 464,585 -3,804 -0.81 24,344 7.85 0.3155
2019-04-30 2019-03-31 13F US Bancorp COM 902973304 468,389 -3,338 -0.71 22,572 4.70 0.3013
2019-02-08 2018-12-31 13F US Bancorp COM 902973304 471,727 -2,210 -0.47 21,558 -13.87 0.3231
2018-11-13 2018-09-30 13F US Bancorp COM 902973304 473,937 -2,909 -0.61 25,029 4.93 0.3153
2018-08-13 2018-06-30 13F US Bancorp COM 902973304 476,846 18,506 4.04 23,852 3.05 0.3026
2018-05-14 2018-03-31 13F US Bancorp Del COM 902973304 458,340 -89,375 -16.32 23,146 -21.13 0.2949
2018-02-13 2017-12-31 13F US Bancorp Del COM 902973304 547,715 -6,281 -1.13 29,347 -1.15 0.3332
2017-10-30 2017-09-30 13F US Bancorp Del COM 902973304 553,996 -6,783 -1.21 29,689 1.97 0.3415
2017-08-04 2017-06-30 13F US Bancorp COM 902973304 560,779 -7,515 -1.32 29,116 -0.52 0.3493
2017-04-28 2017-03-31 13F US Bancorp COM 902973304 568,294 -3,455 -0.60 29,267 -0.35 0.3571
2017-01-30 2016-12-31 13F US Bancorp COM 902973304 571,749 71,435 14.28 29,371 36.88 0.3755
2016-10-31 2016-09-30 13F US Bancorp COM 902973304 500,314 -708 -0.14 21,458 6.20 0.2576
2016-08-15 2016-06-30 13F/A-1 US Bancorp COM 902973304 501,022 85,885 20.69 20,206 19.92 0.2408
2016-07-29 2016-06-30 13F US Bancorp COM 902973304 501,022 20,206
2016-04-29 2016-03-31 13F U.S. Bancorp COM 902973304 415,137 219,735 112.45 16,850 102.09 0.2232
2016-01-29 2015-12-31 13F U.S. Bancorp COM 902973304 195,402 540 0.28 8,338 4.34 0.1130
2015-10-30 2015-09-30 13F U.S. Bancorp COM 902973304 194,862 -1,625 -0.83 7,991 -6.30 0.1069
2015-07-31 2015-06-30 13F U.S. Bancorp COM 902973304 196,487 -3,049 -1.53 8,528 -2.13 0.1004
2015-04-30 2015-03-31 13F U.S. Bancorp COM 902973304 199,536 199,536 0.00 8,714 0.1024
2015-01-30 2014-12-31 13F U.S. Bancorp COM 902973304 0 -206,848 -100.00 0 -100.00
2014-10-30 2014-09-30 13F U.S. Bancorp COM 902973304 206,848 990 0.48 8,652 -2.98 0.0960
2014-09-18 2014-06-30 13F/A-1 U.S. Bancorp COM 902973304 205,858 -1,706 -0.82 8,918 0.25 0.0868
2014-07-30 2014-06-30 13F U.S. Bancorp COM 902973304 205,858 8,918
2014-04-30 2014-03-31 13F U.S. Bancorp COM 902973304 207,564 265 0.13 8,896 6.22 0.1171
2014-01-30 2013-12-31 13F U.S. Bancorp COM 902973304 207,299 -9,838 -4.53 8,375 5.44 0.1126
2013-10-30 2013-09-30 13F U.S. Bancorp COM 902973304 217,137 -1,750 -0.80 7,943 0.38 0.0990
2013-07-30 2013-06-30 13F U.S. Bancorp COM 902973304 218,887 218,887 7,913 0.1071
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.