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Asset manager · Minneapolis, MN

U.S. Bancorp Asset Management, Inc.

SEC-registered investment adviser · CRD 111912 · SEC 801-60125

At a glance

U.S. Bancorp Asset Management, Inc. is an SEC-registered investment adviser based in Minneapolis, Minnesota, with $427.5 billion in regulatory assets under management as of its Form ADV filed August 28, 2026. Its largest client group by assets is investment companies. By Form ADV it is a asset manager, ranked 38th of 3,218 asset managers and 58th of 17,210 SEC-registered advisers by assets.

Main office 717-232-2723usbancorpassetmanagement.comLinkedInAs filed on Form ADV

Regulatory AUM
$427B
Rank among asset managers
#38 of 3,218
Rank among all SEC RIAs
#58 of 17,210
Rank in Minnesota
#2 of 276
Clients
881
Accounts
2,340
Discretionary
100% of AUM
Employees
322
Advisory staff
62
Offices
51

Owners and executives on its Form ADV

Custody and brokerage

3 custodians

  1. U.S. BankAffiliate of the firm$81B71%
  2. BNY$19B17%
  3. Principal Financial Group$14B13%

Other RIAs using U.S. BankOther multi-custodian RIAs

Broker-dealer

Hybrid RIA

U.S. Bancorp Asset Management, Inc. is a hybrid RIA: 111 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Btig, LLC, U.S. Bancorp Advisors, LLC, U.S. Bancorp Investments, Inc. and U.S. Bank National Association.

Its Form ADV brochure (filed March 2026) names U.S. Bancorp Investments as the broker-dealer its advisers are registered with.

Certain USBAM employees are registered representatives of USBII .

Other hybrid RIAs

Who it serves

Client typeClientsRegulatory AUMShare
Investment companies9$193B45%
State or municipal government entities664$102B24%
Pooled investment vehicles20$86B20%
Corporations or other businesses43$27B6%
Other63$8.4B2%
Banking or thrift institutions–$7.2B2%
Pension and profit sharing plans22$2.2B<1%
Charitable organizations56$1.5B<1%
Insurance companies4$529M<1%

Private funds

U.S. Bancorp Asset Management, Inc. reports 1 private funds with $5.1B in gross assets: liquidity funds (Form ADV Item 7.B).

Disciplinary disclosures

U.S. Bancorp Asset Management, Inc. answers yes to 35 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗

Services

  • Portfolio management for individuals and small businesses
  • Portfolio management for investment companies
  • Portfolio management for pooled investment vehicles
  • Portfolio management for businesses and institutions

How it’s paid

  • A percentage of assets under management
  • Performance-based fees
  • Other

Form ADV and brochures on the SEC’s adviser search ↗usbancorpassetmanagement.com ↗

AtlasMembers

The full record on U.S. Bancorp Asset Management, Inc.

Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.

Assets, accounts, clients and staff, ten years of filings
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Growth over one, three and five years
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Rank against 85 peers of its type and size
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Owners and executives, with titles and stakes
6 namedLocked
Main office, fax and compliance officer
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Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.

Background

Questions

How much does U.S. Bancorp Asset Management, Inc. manage?

U.S. Bancorp Asset Management, Inc. reports $427.5 billion in regulatory assets under management across 2,340 accounts, 100% of it on a discretionary basis, on its Form ADV filed August 28, 2026.

What kind of firm is U.S. Bancorp Asset Management, Inc.?

U.S. Bancorp Asset Management, Inc. is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals. It reports a bank or thrift among its related persons. A public reporting company controls it.

Who are U.S. Bancorp Asset Management, Inc.’s clients?

By assets, its largest client types are investment companies ($192.7 billion, 9 clients); state or municipal government entities ($102.2 billion, 664 clients); pooled investment vehicles ($86.2 billion, 20 clients).

Does U.S. Bancorp Asset Management, Inc. manage private funds?

Yes. It reports 1 private funds with $5.1 billion in gross assets, including liquidity funds.

Does U.S. Bancorp Asset Management, Inc. have any disciplinary history?

U.S. Bancorp Asset Management, Inc. answers yes to 35 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.

Where these numbers come from

Every figure is U.S. Bancorp Asset Management, Inc.’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-08-28), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.

Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →