U.S. Bancorp Asset Management, Inc.

Registered investment adviser · Minneapolis, MN · CRD #111912

Form ADV data as of 2026-09-01

Regulatory assets

$427.48 billion

Total accounts

2,340

Employees

322

Disclosure events

Firm details

Website: https://www.linkedin.com/company/us-bancorp-asset-management
Telephone: 717-232-2723
SEC file number: 801-60125
Most recent Form ADV filing: 2026-08-28
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 8 disclosure questions answered Yes, covering 35 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

Charged with a felony (past 10 years)
SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
Another regulator found a violation of investment-related regulations or statutes
Another regulator entered an order in connection with investment-related activity (past 10 years)
A court enjoined the firm in connection with investment-related activity (past 10 years)

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$426.58 billion
Non-discretionary regulatory assets under management	$897.8 million
Total regulatory assets under management	$427.48 billion
Discretionary accounts	1,884
Non-discretionary accounts	456
Total accounts	2,340
Regulatory assets under management attributable to non-U.S. persons	$185.0 million

People

Total employees (excluding clerical)	322
Employees performing investment advisory functions (including research)	62
Employees who are registered representatives of a broker-dealer	111
Employees registered as investment adviser representatives with a state	0
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	0
Firms or persons who solicit advisory clients on the firm's behalf	7

Custody

Has custody of client cash or bank accounts	Yes
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$0
Clients for whom the firm has custody	0
A related person has custody of client cash or bank accounts	Yes
A related person has custody of client securities	Yes
Client funds and securities held in a related person's custody	$81.08 billion
Clients for whom a related person has custody	573
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	Yes
Number of persons acting as qualified custodians for the firm's clients	1

How the firm is compensated

A percentage of assets under managementPerformance-based feesOther

Advisory services offered

Portfolio management for individuals and/or small businessesPortfolio management for investment companiesPortfolio management for pooled investment vehiclesPortfolio management for businesses or institutional clients

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Banking or thrift institutionInsurance company or agency

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys or sells for itself securities it also recommends to clients
Recommends securities in which it has another proprietary interest
Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Recommends brokers or dealers to clients
Receives soft dollar benefits
Compensates a non-employee for client referrals
Provides employee compensation specifically for obtaining clients
Receives compensation from others for client referrals

Client types

Type of client	Clients	Assets
Banking or thrift institutions	Not reported	$7.17 billion
Investment companies	9	$192.71 billion
Pooled investment vehicles (other than investment companies and BDCs)	20	$86.17 billion
Pension and profit sharing plans (not the participants or government plans)	22	$2.23 billion
Charitable organizations	56	$1.54 billion
State or municipal government entities (including government pension plans)	664	$102.20 billion
Insurance companies	4	$528.7 million
Corporations or other businesses not listed above	43	$26.54 billion
Other	63	$8.39 billion