L3VLUP
Quarter end
30 Jun 2025
the date the book describes
Filed
27 Aug 2025
latest of these filings; the earliest 6 Aug 2025
Managers listing it
25
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q1 2025 and Q2 2025; 23 listed it in both
Shares listed
169,300,409
combined, among listed positions
Reported value
$7.7bn
combined, at the quarter end

Among the 95 comparable managers: 10 buyers (opened or added shares) and 17 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing USB in Q2 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q1 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

25 of 25 holders

ActionFiling
Fidelity (FMR LLC)70,920,944$3.2bn0.18%Added+3,439,63614 Aug 2025 (the filing on sec.gov)
Viking Global Investors LP24,089,428$1.1bn3.15%Trimmed-10,774,07414 Aug 2025 (the filing on sec.gov)
T. Rowe Price Associates Inc16,836,068$762m0.09%Added+3,517,57814 Aug 2025 (the filing on sec.gov)
Invesco Ltd15,613,357$707m0.12%Trimmed-914,50913 Aug 2025 (the filing on sec.gov)
Marshall Wace LLP9,781,063$443m0.50%Trimmed-1,519,27013 Aug 2025 (the filing on sec.gov)
First Eagle Investment Management LLC8,764,371$397m0.78%Trimmed-126,8276 Aug 2025 (the filing on sec.gov)
Arrowstreet Capital LP3,472,252$157m0.11%Addedn.a.13 Aug 2025 (the filing on sec.gov)
Squarepoint Ops LLC3,005,900$136m0.14%Trimmed-509,20227 Aug 2025 (the filing on sec.gov)
AQR Capital Management LLC2,855,350$129m0.11%Addedn.a.14 Aug 2025 (the filing on sec.gov)
Two Sigma Investments LP2,442,810$111m0.20%Added+1,350,75014 Aug 2025 (the filing on sec.gov)
Millennium Management LLC1,988,656$90munder 0.1%New-2,374,32914 Aug 2025 (the filing on sec.gov)
AllianceBernstein LP1,833,808$83munder 0.1%Added+132,16914 Aug 2025 (the filing on sec.gov)
Two Sigma Advisers LP1,833,400$83m0.17%Added+1,033,40014 Aug 2025 (the filing on sec.gov)
Janus Henderson Group Ltd1,017,018$46munder 0.1%Trimmed-75,25914 Aug 2025 (the filing on sec.gov)
Renaissance Technologies LLC940,700$43m0.06%Added+185,00013 Aug 2025 (the filing on sec.gov)
Artisan Partners LP873,523$40m0.06%Trimmed-1,843,39712 Aug 2025 (the filing on sec.gov)
Walleye Capital LLC831,662$38m0.15%Trimmed-260,70013 Aug 2025 (the filing on sec.gov)
Verition Fund Management LLC669,191$30m0.13%Trimmed-458,80914 Aug 2025 (the filing on sec.gov)
Tudor Investment Corp387,595$18munder 0.1%Trimmed-532,68914 Aug 2025 (the filing on sec.gov)
Quantbot Technologies LP304,590$14m0.35%Trimmed-485,85813 Aug 2025 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC275,081$12m0.08%Trimmed-1,159,70014 Aug 2025 (the filing on sec.gov)
Brevan Howard Capital Management LP272,450$12m0.07%Trimmed-429,09514 Aug 2025 (the filing on sec.gov)
Woodline Partners LP168,530$7.6munder 0.1%Added+36,73314 Aug 2025 (the filing on sec.gov)
ExodusPoint Capital Management LP105,140$4.8munder 0.1%Trimmed-765,61013 Aug 2025 (the filing on sec.gov)
Caxton Associates LLP17,522$793kunder 0.1%Trimmed-7,94315 Aug 2025 (the filing on sec.gov)

Largest increases and reductions, by shares

Q1 2025 to Q2 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
20 in Q3 2024 to 21 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
USB by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201324$11.6bnn.a.n.a.
Q3 201320$11.8bnn.a.n.a.
Q4 201320$13.5bnn.a.n.a.
Q1 201421$15.1bnn.a.n.a.
Q2 201423$14.7bnn.a.n.a.
Q3 201426$14.0bnn.a.n.a.
Q4 201423$15.8bnn.a.n.a.
Q1 201525$15.6bnn.a.n.a.
Q2 201528$15.3bnn.a.n.a.
Q3 201526$14.3bnn.a.n.a.
Q4 201526$14.4bnn.a.n.a.
Q1 201627$12.9bnn.a.n.a.
Q2 201625$13.1bnn.a.n.a.
Q3 201621$13.6bnn.a.n.a.
Q4 201625$15.6bnn.a.n.a.
Q1 201726$15.0bnn.a.n.a.
Q2 201726$15.5bnn.a.n.a.
Q3 201724$15.7bnn.a.n.a.
Q4 201727$15.8bnn.a.n.a.
Q1 201830$14.4bnn.a.n.a.
Q2 201821$13.9bnn.a.n.a.
Q3 201821$15.0bnn.a.n.a.
Q4 201823$12.9bnn.a.n.a.
Q1 201929$13.0bnn.a.n.a.
Q2 201927$14.1bnn.a.n.a.
Q3 201928$14.9bnn.a.n.a.
Q4 201925$15.1bnn.a.n.a.
Q1 202029$8.5bnn.a.n.a.
Q2 202023$8.7bnn.a.n.a.
Q3 202022$8.2bnn.a.n.a.
Q4 202023$10.7bnn.a.n.a.
Q1 202117$11.2bnn.a.n.a.
Q2 202116$11.1bnn.a.n.a.
Q3 202117$11.5bnn.a.n.a.
Q4 202116$10.6bnn.a.n.a.
Q1 202216$9.9bnn.a.n.a.
Q2 202222$8.5bnn.a.n.a.
Q3 202228$6.5bnn.a.n.a.
Q4 202228$5.7bnn.a.n.a.
Q1 202323$4.6bnn.a.n.a.
Q2 202322$4.0bnn.a.n.a.
Q3 202312$3.1bnn.a.n.a.
Q4 202311$4.5bn84
Q1 202415$5.2bn116
Q2 202418$5.1bn134
Q3 202420$6.9bn137
Q4 202418$7.0bn811
Q1 202530$7.7bn264
Q2 202525$7.7bn1017
Q3 202523$7.5bn187
Q4 202521$8.0bn1818
Q1 202620$7.7bn1121
Q2 202621$8.7bn2213

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

USB and BAC →USB and JPM →USB and WFC →Choose a stock to compare with USB →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own USB, latest filings →Back to the 13F Explorer →