Cliff Asness's USB Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 2.88 M shares of U.S. Bancorp (USB) worth $139.15 M, representing 0.09% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 52 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in USB, representing a significant commitment to this investment thesis. Largest addition occurred in Q2 2025, adding 2.23 M shares. Largest reduction occurred in Q2 2018, reducing 2.79 M shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's US Ban (USB) Holding Value Over Time
Track share changes against reported price movement
Quarterly US Ban (USB) Trades by Cliff Asness
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2012 | +665,417 | Add 0.00% | 665,416 | $31.94 |
| Q2 2013 | +341,118 | Add 0.00% | 341,117 | $36.15 |
| Q3 2013 | -11,461 | Reduce 3.36% | 329,656 | $36.58 |
| Q4 2013 | -15,715 | Reduce 4.77% | 313,941 | $40.40 |
| Q1 2014 | -28,154 | Reduce 8.97% | 285,787 | $42.86 |
| Q2 2014 | +39,900 | Add 13.96% | 325,687 | $43.32 |
| Q3 2014 | +17,515 | Add 5.38% | 343,202 | $41.83 |
| Q4 2014 | +140,846 | Add 41.04% | 484,048 | $44.95 |
| Q1 2015 | +17,035 | Add 3.52% | 501,083 | $43.67 |
| Q2 2015 | +826,045 | Add 164.85% | 1.33 M | $43.40 |
| Q3 2015 | +630,935 | Add 47.54% | 1.96 M | $41.01 |
| Q4 2015 | +280,000 | Add 14.30% | 2.24 M | $42.67 |
| Q1 2016 | -547,367 | Reduce 24.46% | 1.69 M | $40.59 |
| Q2 2016 | +12,101 | Add 0.72% | 1.7 M | $40.33 |
| Q3 2016 | +418,963 | Add 24.60% | 2.12 M | $42.89 |
| Q4 2016 | +924,292 | Add 43.56% | 3.05 M | $51.37 |
| Q1 2017 | +1.65 M | Add 54.24% | 4.7 M | $51.50 |
| Q2 2017 | -965,686 | Reduce 20.55% | 3.73 M | $51.92 |
| Q3 2017 | +325,659 | Add 8.72% | 4.06 M | $53.97 |
| Q4 2017 | +115,532 | Add 2.85% | 4.17 M | $53.58 |
| Q1 2018 | +1.18 M | Add 28.25% | 5.35 M | $50.50 |
| Q2 2018 | -2.79 M | Reduce 52.08% | 2.57 M | $50.02 |
| Q3 2018 | -980,924 | Reduce 38.24% | 1.58 M | $52.81 |
| Q4 2018 | -399,632 | Reduce 25.23% | 1.18 M | $45.70 |
| Q1 2019 | -21,067 | Reduce 1.78% | 1.16 M | $48.19 |
| Q2 2019 | +137,917 | Add 11.85% | 1.3 M | $52.40 |
| Q3 2019 | -37,594 | Reduce 2.89% | 1.26 M | $55.34 |
| Q4 2019 | +251,313 | Add 19.88% | 1.52 M | $59.29 |
| Q1 2020 | +373,498 | Add 24.65% | 1.89 M | $34.45 |
| Q2 2020 | +373,701 | Add 19.79% | 2.26 M | $36.35 |
| Q3 2020 | -1.12 M | Reduce 49.40% | 1.14 M | $35.54 |
| Q4 2020 | +291,325 | Add 25.45% | 1.44 M | $46.04 |
| Q1 2021 | +688,076 | Add 47.91% | 2.12 M | $55.31 |
| Q2 2021 | -901,536 | Reduce 42.44% | 1.22 M | $56.86 |
| Q3 2021 | -752,398 | Reduce 61.54% | 470,280 | $59.44 |
| Q4 2021 | -197,821 | Reduce 42.06% | 272,459 | $56.17 |
| Q1 2022 | -152,564 | Reduce 56.00% | 119,895 | $53.15 |
| Q2 2022 | -50,431 | Reduce 42.06% | 69,464 | $44.94 |
| Q3 2022 | +193,355 | Add 278.35% | 262,819 | $40.32 |
| Q4 2022 | +405,071 | Add 154.13% | 667,890 | $43.53 |
| Q1 2023 | -89,271 | Reduce 13.37% | 578,619 | $35.12 |
| Q2 2023 | +842,325 | Add 145.58% | 1.42 M | $33.04 |
| Q3 2023 | -1.33 M | Reduce 93.78% | 88,359 | $33.06 |
| Q4 2023 | -21,347 | Reduce 24.16% | 67,012 | $43.28 |
| Q1 2024 | +44,314 | Add 66.13% | 111,326 | $44.63 |
| Q2 2024 | +461,291 | Add 414.36% | 572,617 | $39.56 |
| Q3 2024 | +34,675 | Add 6.06% | 607,292 | $45.02 |
| Q4 2024 | -5,487 | Reduce 0.90% | 601,805 | $47.83 |
| Q1 2025 | +26,442 | Add 4.39% | 628,247 | $41.54 |
| Q2 2025 | +2.23 M | Add 354.49% | 2.86 M | $45.25 |
| Q3 2025 | +23,763 | Add 0.83% | 2.88 M | $48.33 |
Cliff Asness's US Ban Investment FAQs
Cliff Asness first purchased U.S. Bancorp (USB) in Q4 2012, acquiring 665,416 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held U.S. Bancorp (USB) for 52 quarters since Q4 2012. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness's largest addition to U.S. Bancorp (USB) was in Q2 2025, adding 2,855,350 shares worth $129.2 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 2,879,113 shares of U.S. Bancorp (USB), valued at approximately $139.15 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
As of the Q3 2025 filing, U.S. Bancorp (USB) represents approximately 0.09% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness's peak holding in U.S. Bancorp (USB) was 5,352,904 shares, as reported at the end of Q1 2018. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.