Jeremy Grantham's USB Position Overview
Jeremy Grantham (via Grantham, Mayo, Van Otterloo & Co. LLC) currently holds 17.76 M shares of U.S. Bancorp (USB) worth $858.29 M, representing 2.42% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 50 quarters.
Based on 13F filings since 2013, Jeremy Grantham has maintained a long-term strategic position in USB, representing a significant commitment to this investment thesis. Largest addition occurred in Q1 2024, adding 3.18 M shares. Largest reduction occurred in Q1 2023, reducing 2.73 M shares.
Analysis based on 13F filings available since 2013 Q2
Jeremy Grantham's US Ban (USB) Holding Value Over Time
Track share changes against reported price movement
Quarterly US Ban (USB) Trades by Jeremy Grantham
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q2 2013 | +488,301 | Add 0.00% | 488,300 | $36.15 |
| Q3 2013 | -49,300 | Reduce 10.10% | 439,000 | $36.58 |
| Q4 2013 | -6,100 | Reduce 1.39% | 432,900 | $40.40 |
| Q1 2014 | -34,400 | Reduce 7.95% | 398,500 | $42.86 |
| Q2 2014 | -37,100 | Reduce 9.31% | 361,400 | $43.32 |
| Q3 2014 | +191,200 | Add 52.91% | 552,600 | $41.83 |
| Q4 2014 | -87,400 | Reduce 15.82% | 465,200 | $44.95 |
| Q1 2015 | +29,300 | Add 6.30% | 494,500 | $43.67 |
| Q2 2015 | -92,700 | Reduce 18.75% | 401,800 | $43.40 |
| Q3 2015 | -267,298 | Reduce 66.53% | 134,502 | $41.01 |
| Q4 2015 | -124,400 | Reduce 92.49% | 10,102 | $42.66 |
| Q1 2016 | -10,102 | Sold Out | 10,102 | $0.00 |
| Q2 2017 | +2.49 M | New Buy | 2.49 M | $51.92 |
| Q3 2017 | +948,553 | Add 38.08% | 3.44 M | $53.59 |
| Q4 2017 | +770,479 | Add 22.40% | 4.21 M | $53.58 |
| Q1 2018 | +1.67 M | Add 39.63% | 5.88 M | $50.50 |
| Q2 2018 | -735,316 | Reduce 12.51% | 5.14 M | $50.02 |
| Q3 2018 | -93,932 | Reduce 1.83% | 5.05 M | $52.81 |
| Q4 2018 | +870,213 | Add 17.24% | 5.92 M | $45.70 |
| Q1 2019 | -279,724 | Reduce 4.73% | 5.64 M | $48.19 |
| Q2 2019 | -303,167 | Reduce 5.38% | 5.34 M | $52.40 |
| Q3 2019 | +141,889 | Add 2.66% | 5.48 M | $55.34 |
| Q4 2019 | +10,158 | Add 0.19% | 5.49 M | $59.29 |
| Q1 2020 | +2.81 M | Add 51.16% | 8.3 M | $34.45 |
| Q2 2020 | +873,164 | Add 10.53% | 9.17 M | $36.82 |
| Q3 2020 | +356,752 | Add 3.89% | 9.53 M | $35.85 |
| Q4 2020 | +132,269 | Add 1.39% | 9.66 M | $46.59 |
| Q1 2021 | +100,204 | Add 1.04% | 9.76 M | $55.31 |
| Q2 2021 | -108,173 | Reduce 1.11% | 9.65 M | $56.97 |
| Q3 2021 | +179,985 | Add 1.87% | 9.83 M | $59.44 |
| Q4 2021 | +131,308 | Add 1.34% | 9.96 M | $56.17 |
| Q1 2022 | -167,822 | Reduce 1.68% | 9.79 M | $53.15 |
| Q2 2022 | -206,826 | Reduce 2.11% | 9.59 M | $46.02 |
| Q3 2022 | -59,031 | Reduce 0.62% | 9.53 M | $40.32 |
| Q4 2022 | +11,958 | Add 0.13% | 9.54 M | $43.61 |
| Q1 2023 | -2.73 M | Reduce 28.61% | 6.81 M | $36.05 |
| Q2 2023 | +1.18 M | Add 17.28% | 7.99 M | $33.04 |
| Q3 2023 | +929,768 | Add 11.64% | 8.92 M | $33.06 |
| Q4 2023 | -930,944 | Reduce 10.44% | 7.99 M | $43.28 |
| Q1 2024 | +3.18 M | Add 39.76% | 11.16 M | $44.70 |
| Q2 2024 | +929,005 | Add 8.32% | 12.09 M | $39.70 |
| Q3 2024 | +724,724 | Add 5.99% | 12.82 M | $45.73 |
| Q4 2024 | +120,543 | Add 0.94% | 12.94 M | $47.83 |
| Q1 2025 | +3.05 M | Add 23.56% | 15.98 M | $42.22 |
| Q2 2025 | +585,968 | Add 3.67% | 16.57 M | $45.25 |
| Q3 2025 | +1.19 M | Add 7.18% | 17.76 M | $48.33 |
Jeremy Grantham's US Ban Investment FAQs
Jeremy Grantham first purchased U.S. Bancorp (USB) in Q2 2013, acquiring 488,300 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Jeremy Grantham has held U.S. Bancorp (USB) for 50 quarters since Q2 2013. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Jeremy Grantham's largest addition to U.S. Bancorp (USB) was in Q1 2024, adding 11,161,575 shares worth $498.92 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Jeremy Grantham's firm, Grantham, Mayo, Van Otterloo & Co. LLC, owns 17,758,947 shares of U.S. Bancorp (USB), valued at approximately $858.29 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 2.42% of Jeremy Grantham'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.
Jeremy Grantham's peak holding in U.S. Bancorp (USB) was 17,758,947 shares, as reported at the end of Q3 2025. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.