U.S. Bancorp bonds USB
Who owns U.S. Bancorp's debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. USB stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 902973BC9 | 3.7% fixed | 2027-01-15 | USD | 99.09 | 5.75% | 193 bp | 21 | $115.5M | Jul 2026 |
| 903312AA4 | 5.162% floating | 2027-01-15 | USD | 89.47 | — | — | 5 | $5.1M | Jul 2026 |
| 902973AZ9 | 5.3% fixed | 2027-04-15 | USD | 99.74 | 5.67% | 175 bp | 10 | $14.9M | Jul 2026 |
| 91159HHR4 | 3.15% fixed | 2027-04-27 | USD | 99.23 | 4.21% | 28 bp | 8 | $21.1M | Jul 2026 |
| 90331HPP2 | 4.507% fixed | 2027-10-22 | USD | 100.01 | 4.50% | 41 bp | 7 | $53.8M | Jul 2026 |
| 91159HJP6 | 6.787% fixed | 2027-10-26 | USD | 100.54 | 6.32% | 223 bp | 13 | $17.5M | Jul 2026 |
| 91159HJC5 | 2.215% fixed | 2028-01-27 | USD | 98.90 | 2.97% | -116 bp | 6 | $17.8M | Jul 2026 |
| 91159HHS2 | 3.9% fixed | 2028-04-26 | USD | 99.01 | 4.50% | 32 bp | 9 | $24.0M | Jul 2026 |
| 90331HPS6 | 4.73% fixed | 2028-05-15 | USD | 100.12 | 4.66% | 47 bp | 12 | $151.8M | Jul 2026 |
| 902973BD7 | 3% floating | 2028-05-21 | EUR | 100.21 | — | — | 2 | $14.2M | Jun 2026 |
| 91159HJF8 | 4.548% fixed | 2028-07-22 | USD | 99.95 | 4.57% | 36 bp | 13 | $9.7M | Jul 2026 |
| 91159HJK7 | 4.653% fixed | 2029-02-01 | USD | 99.94 | 4.68% | 44 bp | 11 | $23.5M | Jul 2026 |
| 90331HPV9 | 4.535% fixed | 2029-05-20 | USD | 99.64 | 4.67% | 42 bp | 12 | $246.3M | Jul 2026 |
| 91159HJM3 | 5.775% fixed | 2029-06-12 | USD | 101.84 | 5.07% | 82 bp | 25 | $86.1M | Jul 2026 |
| 91159HHW3 | 3% fixed | 2029-07-30 | USD | 95.07 | 4.78% | 52 bp | 9 | $13.0M | Jul 2026 |
| 91159HJQ4 | 5.384% fixed | 2030-01-23 | USD | 101.25 | 4.99% | 71 bp | 22 | $38.0M | Jul 2026 |
| 91159HJA9 | 1.375% fixed | 2030-07-22 | USD | 87.44 | 4.89% | 60 bp | 14 | $23.5M | Jul 2026 |
| 91159HJS0 | 5.1% fixed | 2030-07-23 | USD | 100.71 | 4.90% | 61 bp | 14 | $43.3M | Jul 2026 |
| 91159HKA7 | 4.857% variable | 2030-07-27 | USD | 99.80 | — | — | 20 | $105.2M | Jul 2026 |
| 91159HJT8 | 5.046% fixed | 2031-02-12 | USD | 100.04 | 5.03% | 72 bp | 18 | $127.1M | Jul 2026 |
| 91159HJV3 | 5.083% variable | 2031-05-15 | USD | 100.16 | — | — | 19 | $104.3M | Jul 2026 |
| 91159HJW1 | 4.481% fixed | 2032-01-26 | USD | 97.45 | 5.02% | 66 bp | 19 | $61.4M | Jul 2026 |
| 902973BE5 | 4.009% fixed | 2032-05-21 | EUR | 100.81 | 3.85% | — | 1 | $233K | Jul 2026 |
| 91159HJD3 | 2.677% fixed | 2033-01-27 | USD | 88.12 | 4.83% | 40 bp | 4 | $2.4M | Jul 2026 |
| 91159HJG6 | 4.967% fixed | 2033-07-22 | USD | 97.71 | 5.36% | 91 bp | 13 | $39.8M | Jul 2026 |
| 91159HJJ0 | 5.85% fixed | 2033-10-21 | USD | 103.03 | 5.34% | 87 bp | 9 | $104.0M | Jul 2026 |
| 91159HJL5 | 4.839% fixed | 2034-02-01 | USD | 96.95 | 5.34% | 85 bp | 22 | $117.4M | Jul 2026 |
| 91159HJN1 | 5.836% fixed | 2034-06-12 | USD | 102.47 | 5.45% | 94 bp | 21 | $65.4M | Jul 2026 |
| 91159HJR2 | 5.678% fixed | 2035-01-23 | USD | 101.40 | 5.47% | 94 bp | 25 | $26.0M | Jul 2026 |
| 91159XDD4 | 5.45% fixed | 2035-07-30 | USD | 99.77 | 5.48% | 105 bp | 1 | $499K | Jun 2026 |
| 91159HJU5 | 5.424% fixed | 2036-02-12 | USD | 99.84 | 5.45% | 87 bp | 17 | $47.1M | Jul 2026 |
| 91159HJB7 | 2.491% fixed | 2036-11-03 | USD | 86.32 | 4.14% | -47 bp | 18 | $58.0M | Jul 2026 |
| 91159HJY7 | 5.033% fixed | 2037-01-26 | USD | 96.26 | 5.51% | 88 bp | 8 | $15.4M | Jul 2026 |
| 91159HKB5 | 5.47% variable | 2037-07-27 | USD | 98.99 | — | — | 13 | $93.8M | Jul 2026 |
| 91159HJZ4 | 5.723% fixed | 2041-05-20 | USD | 97.61 | 5.97% | 112 bp | 19 | $37.1M | Jul 2026 |
| 91731KAA8 | 5.035% floating | 2049-12-31 | USD | 78.25 | — | — | 1 | $1.0M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 34 | $1.91B | 99.69 | 4.99% | 66 bp | 25 |
| Jun 2026 | 35 | $3.30B | 99.98 | 4.80% | 60 bp | 67 |
| May 2026 | 32 | $2.55B | 100.05 | 4.73% | 59 bp | 39 |
| Apr 2026 | 31 | $1.64B | 99.70 | 4.68% | 76 bp | 25 |
| Mar 2026 | 34 | $3.25B | 99.95 | 4.69% | 85 bp | 74 |
| Feb 2026 | 31 | $2.52B | 100.99 | 4.26% | 67 bp | 36 |
| Jan 2026 | 33 | $1.71B | 100.37 | 4.42% | 71 bp | 28 |
| Dec 2025 | 32 | $3.07B | 100.74 | 4.42% | 76 bp | 76 |
| Nov 2025 | 30 | $2.42B | 100.57 | 4.39% | 73 bp | 36 |
| Oct 2025 | 32 | $1.63B | 100.31 | 4.48% | 83 bp | 29 |
| Sep 2025 | 34 | $3.30B | 100.35 | 4.50% | 80 bp | 78 |
| Aug 2025 | 31 | $2.73B | 100.08 | 4.52% | 72 bp | 42 |
| Jul 2025 | 33 | $1.76B | 99.95 | 4.71% | 73 bp | 33 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 178 added, 139 cut, 44 new holders and 33 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $452.7M | $449.5M | $1.0M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $411.0M | $411.6M | $47.3M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $394.3M | $393.9M | $5.3M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $392.3M | $392.1M | -$2.1M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $337.5M | $333.7M | $35.3M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $285.2M | $287.4M | -$37.2M |
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $249.6M | $249.9M | $72.3M |
| VANGUARD ULTRA-SHORT-TERM BOND FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $171.4M | $171.0M | $83.9M |
| VANGUARD INSTITUTIONAL INTERMEDIATE-TERM BOND FUND VANGUARD MALVERN FUNDS | 2026-06-30 | $144.5M | $145.2M | -$6.4M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $131.0M | $129.5M | -$1.4M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $130.5M | $128.8M | $12.0M |
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $120.0M | $124.4M | $0 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $123.6M | $122.3M | $519K |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $103.7M | $105.1M | $0 |
| VANGUARD ULTRA-SHORT BOND ETF VANGUARD BOND INDEX FUNDS | 2026-06-30 | $102.2M | $103.2M | $8.4M |
| Core Fixed Income Fund Principal Funds, Inc | 2026-07-31 | $107.8M | $103.0M | $9.0M |
| Putnam Ultra Short Duration Income Fund Putnam Funds Trust | 2026-07-31 | $101.4M | $101.4M | $25.7M |
| BBH Limited Duration Fund BBH Trust | 2026-07-31 | $98.7M | $98.3M | $33.2M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $95.0M | $94.5M | -$14.6M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $90.1M | $90.6M | -$16.2M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $91.1M | $90.3M | $3.0M |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $88.4M | $89.8M | -$7.5M |
| American Balanced Fund | 2026-06-30 | $81.3M | $81.9M | $0 |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $80.6M | $78.5M | -$7.1M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $75.4M | $74.9M | $13.4M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): iShares iBonds Dec 2026 Term Corporate ETF ($13.3M), Janus Henderson Flexible Bond Fund ($12.8M), iShares Flexible Income Active ETF ($9.9M), iShares Investment Grade Systematic Bond ETF ($5.8M), PGIM Floating Rate Income Fund ($5.8M), WESTWOOD INCOME OPPORTUNITY FUND ($4.0M), Invesco Equity and Income Fund ($3.2M), Janus Henderson Flexible Bond Portfolio ($2.9M), NVIT Loomis Core Bond Fund ($2.7M), Venerable Strategic Bond Fund ($2.6M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 21 | $452.7M | $449.5M | 0.11% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 10 | $392.3M | $392.1M | 0.57% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 11 | $285.2M | $287.4M | 0.57% |
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 4 | $249.6M | $249.9M | 0.65% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 23 | $131.0M | $129.5M | 0.09% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 10 | $130.5M | $128.8M | 0.25% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 13 | $123.6M | $122.3M | 0.41% |
| VUSB VANGUARD ULTRA-SHORT BOND ETF | 2026-06-30 | 7 | $102.2M | $103.2M | 1.15% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 12 | $95.0M | $94.5M | 0.43% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 11 | $90.1M | $90.6M | 0.13% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 10 | $91.1M | $90.3M | 0.50% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 10 | $75.4M | $74.9M | 0.65% |
| MINT PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 2026-06-30 | 4 | $66.1M | $66.1M | 0.40% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 21 | $63.5M | $63.1M | 0.55% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 5 | $61.2M | $61.5M | 0.58% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 66 bp spread prices in about 1.1% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Not available.
The stock side: 13F filings
What institutions report holding in USB's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 365 | $1.12B | 3 | $2.2M | 0 | — | 0 |
| 2026-06-30 | 2,058 | $74.31B | 41 | $396.3M | 36 | $562.1M | 0 |
| 2026-03-31 | 1,967 | $53.71B | 44 | $390.7M | 34 | $396.3M | 0 |
| 2025-12-31 | 2,002 | $64.29B | 45 | $637.5M | 39 | $492.5M | 0 |
| 2025-09-30 | 1,855 | $56.89B | 41 | $402.0M | 41 | $531.3M | 0 |
| 2025-06-30 | 1,824 | $55.31B | 39 | $307.5M | 46 | $506.0M | 0 |
Officials trading USB bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2023-06-28 | Ro Khanna | sale | U.S. Bancorp | $1,001 - $15,000 | filing |
| 2023-06-22 | Ro Khanna | purchase | U.S. Bancorp | $15,001 - $50,000 | filing |
| 2023-05-26 | Zoe Lofgren | sale | U.S. Bancorp | $1,001 - $15,000 | filing |
| 2023-05-16 | Ro Khanna | purchase | U.S. Bancorp | $1,001 - $15,000 | filing |
| 2023-05-05 | Neal P. Dunn | purchase | U.S. Bancorp Depositary Shares each representing a 1/1,000th interest in a share of Series | $1,001 - $15,000 | filing |
| 2023-04-20 | Ro Khanna | purchase | U.S. Bancorp | $1,001 - $15,000 | filing |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.