United Services Automobile Association

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), United Services Automobile Association reported 446 stock positions worth $4.1 billion. Its top holding was iShares Core U.S. Aggregate (AGG) at 13.1% of the portfolio, followed by iShares Core MSCI Emerging (IEMG, 5.7%) and Exxon Mobil (XOM, 3.5%). Compared with Q4 2023, it opened 25 new positions, sold out of 21, added to 58 and reduced 91. The biggest buy was Chevron (CVX, shares +598%) and the biggest sale iShares Core U.S. Aggregate (AGG, shares −33%).

Most Recent 13F
Q2 2026
Location
SAN ANTONIO, TX
CIK
0001021249
Portfolio Value
$4.1B (Q1 2024)
SEC Filing
0000950123-24-005580 ↗ filed May 15, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $4.1B $4.1B Q1 2024 Q2 2024: $3.9B Q2 2024 Q3 2024: $3.9B Q3 2024 Q4 2024: $3.1B Q4 2024 Q1 2025: $3.2B Q1 2025 Q2 2025: $962.6M Q2 2025 Q3 2025: $1.4B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $850.6M Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 446 stocks · $4.1B
AGG iShares Core U.S. Aggregate 13.07% 5,428,732 $531.7M Reduce -33.5%
IEMG iShares Core MSCI Emerging 5.73% 4,516,153 $233.0M No change
XOM Exxon Mobil Corp. 3.50% 1,222,933 $142.2M Reduce -9.1%
AVGO Broadcom Inc. 2.84% 87,038 $115.4M Reduce -11.7%
ABBV Abbvie Inc. 2.77% 618,794 $112.7M Add +4.7%
VOO Vanguard S&P 500 ETF 2.57% 217,744 $104.7M Add +0.9%
UITB Victoryshares Core Intermedi 2.50% 2,196,668 $101.9M No change
JNJ Johnson & Johnson 2.39% 615,403 $97.4M Reduce -11.7%
HD Home Depot Inc. 2.32% 246,393 $94.5M Add +2.0%
MSFT Microsoft Corp. 2.29% 221,184 $93.1M Add +0.3%
MO Altria Group Inc. 1.93% 1,799,818 $78.5M Reduce -0.2%
AAPL Apple Inc. 1.83% 432,985 $74.2M Reduce -0.6%
PG The Procter & Gamble Co. 1.82% 455,135 $73.8M Reduce -10.4%
MRK Merck & Co. Inc. 1.75% 538,434 $71.0M Reduce -13.9%
VEU Vanguard Ftse All-World Ex-U 1.73% 1,201,037 $70.4M Reduce -4.4%
JPM JPMorgan Chase & Co. 1.67% 339,270 $68.0M No change
NVDA Nvidia Corp. 1.64% 73,640 $66.5M Add +0.3%
CSCO Cisco Systems Inc. 1.62% 1,320,047 $65.9M Reduce -18.8%
PM Philip Morris International 1.54% 682,615 $62.5M No change
PEP Pepsico Inc. 1.47% 341,764 $59.8M Add +22.7%
CVX Chevron Corp. 1.42% 367,000 $57.9M Add +598.3%
UNH Unitedhealth Group Inc. 1.37% 112,535 $55.7M Reduce -3.7%
AMZN Amazon.com Inc. 1.21% 272,653 $49.2M Add +1.2%
CNQ Canadian Natural Resources 1.19% 634,318 $48.4M Add +49.6%
EMXC iShares MSCI Emr MRK Ex Chna 1.16% 818,851 $47.1M Add +6.8%
QCOM Qualcomm Inc. 0.97% 233,477 $39.5M No change
UPS United Parcel Service Class B 0.87% 237,333 $35.3M No change
WMT Walmart Inc. 0.80% 541,448 $32.6M Reduce -0.4%
BMY Bristol-Myers Squibb Co. 0.80% 598,432 $32.5M No change
CAT Caterpillar Inc. 0.78% 87,046 $31.9M Add +0.4%
META Meta Platforms Inc. Class A 0.78% 65,684 $31.9M Reduce -0.3%
BSV Vanguard Short-Term Bond ETF 0.77% 408,067 $31.3M Add +1.7%
LOW Lowe's Cos Inc. 0.74% 118,091 $30.1M No change
CL Colgate-Palmolive Co. 0.74% 332,983 $30.0M Reduce -3.7%
VLO Valero Energy Corp. 0.74% 175,461 $29.9M No change
KMB Kimberly-Clark Corp. 0.72% 226,113 $29.2M Reduce -2.5%
VXF Vanguard Extended Market ETF 0.69% 159,485 $28.0M Reduce -7.5%
COP Conocophillips 0.68% 216,699 $27.6M Add +15.2%
TRUE Truecar Inc. 0.66% 7,962,245 $27.0M No change
LMT Lockheed Martin Corp. 0.66% 59,270 $27.0M Reduce -16.3%
GOOGL Alphabet Inc. Class A 0.66% 177,690 $26.8M Reduce -2.0%
VYM Vanguard High DVD Yield ETF 0.65% 218,637 $26.5M Reduce -10.7%
LLY Eli Lilly & Co. 0.60% 31,549 $24.5M Reduce -29.3%
BRK.B Berkshire Hathaway Inc. Class B 0.56% 54,301 $22.8M No change
ACN Accenture PLC Class A 0.56% 65,766 $22.8M Add +14.3%
GOOG Alphabet Inc. Class C 0.54% 144,657 $22.0M No change
AXP American Express Co. 0.53% 94,538 $21.5M Reduce -18.8%
KO The Coca-Cola Co. 0.51% 336,493 $20.6M Reduce -39.1%
TGT Target Corp. 0.45% 104,357 $18.5M Add +0.6%
MMM 3M Co. 0.41% 158,422 $16.8M No change
CRH CRH PLC 0.40% 190,329 $16.4M Reduce -43.5%
GILD Gilead Sciences Inc. 0.40% 222,985 $16.3M No change
VCLT Vanguard Long-Term Corp. Bond 0.36% 188,316 $14.7M Reduce -21.6%
VCIT Vanguard Int-Term Corporate 0.36% 182,280 $14.7M Reduce -23.8%
VCSH Vanguard S/T Corp. Bond ETF 0.36% 188,871 $14.6M Reduce -24.9%
SBUX Starbucks Corp. 0.36% 159,013 $14.5M No change
TSLA Tesla Inc. 0.35% 81,926 $14.4M No change
V Visa Inc. Class A 0.33% 47,874 $13.4M No change
ITW Illinois Tool Works 0.30% 45,476 $12.2M Add +18.8%
VXUS Vanguard Total Intl Stock 0.29% 198,199 $12.0M Reduce -2.8%
MA Mastercard Inc. Class A 0.29% 24,592 $11.8M No change
YUM Yum! Brands Inc. 0.28% 81,787 $11.3M Reduce -38.7%
ADP Automatic Data Processing 0.28% 44,938 $11.2M Add +18.9%
ABT Abbott Laboratories 0.27% 97,678 $11.1M No change
BBY Best Buy Co. Inc. 0.26% 130,137 $10.7M Reduce -16.8%
BND Vanguard Total Bond Market 0.24% 135,450 $9.8M Reduce -15.3%
COST Costco Wholesale Corp. 0.24% 13,349 $9.8M No change
IMO Imperial Oil Ltd. 0.24% 139,302 $9.6M Reduce -9.1%
CRM Salesforce Inc. 0.22% 29,086 $8.8M No change
AMD Advanced Micro Devices 0.21% 48,245 $8.7M No change
CVE Cenovus Energy Inc. 0.21% 420,673 $8.4M Add +745.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.21% 68,451 $8.3M Reduce -63.7%
HPQ HP Inc. 0.20% 270,061 $8.2M Reduce -24.8%
MCD McDonald's Corp. 0.19% 27,902 $7.9M Add +29.1%
NFLX Netflix Inc. 0.19% 12,898 $7.8M Reduce -2.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.19% 204,028 $7.7M No change
MAS Masco Corp. 0.17% 88,252 $7.0M Reduce -1.1%
VTI VG Morningstar TS MKT ETF-US 0.17% 26,778 $7.0M Reduce -9.4%
ADBE Adobe Inc. 0.17% 13,579 $6.9M No change
LIN Linde PLC 0.17% 14,528 $6.7M No change
TMO Thermo Fisher Scientific Inc. 0.16% 11,531 $6.7M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.16% 54,450 $6.7M Add +0.7%
WFC Wells Fargo & Co. 0.15% 105,986 $6.1M Reduce -1.2%
ORCL Oracle Corp. 0.15% 47,280 $5.9M Reduce -47.9%
GE General Electric 0.14% 32,780 $5.8M No change
INTC Intel Corp. 0.14% 124,789 $5.5M No change
VZ Verizon Communications Inc. 0.13% 127,010 $5.3M Reduce -78.2%
CMCSA Comcast Corp. Class A 0.13% 121,630 $5.3M Reduce -73.3%
AMAT Applied Materials Inc. 0.13% 25,167 $5.2M No change
RY Royal Bank of Canada 0.13% 51,291 $5.2M Reduce -78.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.13% 26,680 $5.1M Reduce -70.5%
DHR Danaher Corp. 0.12% 19,703 $4.9M No change
UBER Uber Technologies Inc. 0.12% 61,017 $4.7M New
PFE Pfizer Inc. 0.11% 167,587 $4.7M Reduce -68.8%
OC Owens Corning 0.11% 27,730 $4.6M Reduce -68.0%
AMGN Amgen Inc. 0.11% 15,995 $4.5M Reduce -85.4%
TXN Texas Instruments Inc. 0.11% 26,090 $4.5M Reduce -88.0%
UNP Union Pacific Corp. 0.11% 17,946 $4.4M Reduce -62.7%
GS Goldman Sachs Group Inc. 0.10% 10,204 $4.3M No change
LOGI Logitech International-Reg 0.10% 46,493 $4.2M New

Show all 446 holdings

Portfolio Sells Q4 2023 → Q1 2024
AGG iShares Core U.S. Aggregate Reduce -33.5% 13.07% −4.88
TXN Texas Instruments Inc. Reduce -88.0% 0.11% −0.71
AMGN Amgen Inc. Reduce -85.4% 0.11% −0.59
LYB Lyondellbasell Indu Class A Sold out 0.00% −0.47
SYF Synchrony Financial Sold out 0.00% −0.46
DFS Discover Financial Services Sold out 0.00% −0.44
RY Royal Bank of Canada Reduce -78.8% 0.13% −0.42
BMO Bank of Montreal Reduce -87.5% 0.06% −0.39
RF Regions Financial Corp. Reduce -96.4% 0.02% −0.39
VZ Verizon Communications Inc. Reduce -78.2% 0.13% −0.36
EOG EOG Resources Inc. Reduce -88.6% 0.05% −0.35
CMCSA Comcast Corp. Class A Reduce -73.3% 0.13% −0.31
BNS Bank of Nova Scotia Reduce -87.3% 0.05% −0.30
KR Kroger Co. Reduce -93.0% 0.03% −0.28
CTSH Cognizant Tech Solutions-A Reduce -90.8% 0.03% −0.26
SWKS Skyworks Solutions Inc. Sold out 0.00% −0.25
TROW T Rowe Price Group Inc. Reduce -63.7% 0.21% −0.24
PFE Pfizer Inc. Reduce -68.8% 0.11% −0.23
WU Western Union Co. Reduce -96.6% 0.01% −0.22
KO The Coca-Cola Co. Reduce -39.1% 0.51% −0.22
NUE Nucor Corp. Sold out 0.00% −0.21
IBM Intl Business Machines Corp. Reduce -70.5% 0.13% −0.20
CSCO Cisco Systems Inc. Reduce -18.8% 1.62% −0.20
CF CF Industries Holdings Inc. Sold out 0.00% −0.17
OC Owens Corning Reduce -68.0% 0.11% −0.17
USB US Bancorp Reduce -80.4% 0.05% −0.17
ELV Elevance Health Inc. Sold out 0.00% −0.16
UNP Union Pacific Corp. Reduce -62.7% 0.11% −0.15
GPC Genuine Parts Co. Sold out 0.00% −0.15
STLD Steel Dynamics Inc. Sold out 0.00% −0.14
HSY The Hershey Co. Sold out 0.00% −0.13
DVN Devon Energy Corp. Reduce -86.8% 0.02% −0.12
CRH CRH PLC Reduce -43.5% 0.40% −0.11
YUM Yum! Brands Inc. Reduce -38.7% 0.28% −0.11
VCSH Vanguard S/T Corp. Bond ETF Reduce -24.9% 0.36% −0.07
VCIT Vanguard Int-Term Corporate Reduce -23.8% 0.36% −0.07
ORCL Oracle Corp. Reduce -47.9% 0.15% −0.07
VCLT Vanguard Long-Term Corp. Bond Reduce -21.6% 0.36% −0.06
IVE iShares S&P 500 Value ETF Sold out 0.00% −0.05
LMT Lockheed Martin Corp. Reduce -16.3% 0.66% −0.05
HPQ HP Inc. Reduce -24.8% 0.20% −0.04
AAPL Apple Inc. Reduce -0.6% 1.83% −0.03
JBL Jabil Inc. Sold out 0.00% −0.03
JNJ Johnson & Johnson Reduce -11.7% 2.39% −0.03
NXPI NXP Semiconductors NV Reduce -37.8% 0.08% −0.03
BND Vanguard Total Bond Market Reduce -15.3% 0.24% −0.02
FLG New York Community Bancorp Sold out 0.00% −0.01
SRC Spirit Realty Capital Inc. Sold out 0.00% −0.01
FERG Ferguson Jersey Ltd. Reduce -33.3% 0.06% −0.01
WRK Westrock Co. Sold out 0.00% −0.01

Portfolio Buys Q4 2023 → Q1 2024
CVX Chevron Corp. Add +598.3% 1.42% +1.25
NVDA Nvidia Corp. Add +0.3% 1.64% +0.83
ABBV Abbvie Inc. Add +4.7% 2.77% +0.74
CNQ Canadian Natural Resources Add +49.6% 1.19% +0.57
VOO Vanguard S&P 500 ETF Add +0.9% 2.57% +0.48
HD Home Depot Inc. Add +2.0% 2.32% +0.47
MSFT Microsoft Corp. Add +0.3% 2.29% +0.45
PEP Pepsico Inc. Add +22.7% 1.47% +0.42
AMZN Amazon.com Inc. Add +1.2% 1.21% +0.30
EMXC iShares MSCI Emr MRK Ex Chna Add +6.8% 1.16% +0.22
CAT Caterpillar Inc. Add +0.4% 0.78% +0.22
COP Conocophillips Add +15.2% 0.68% +0.19
CVE Cenovus Energy Inc. Add +745.9% 0.21% +0.19
TGT Target Corp. Add +0.6% 0.45% +0.13
UBER Uber Technologies Inc. New 0.12% +0.12
ACN Accenture PLC Class A Add +14.3% 0.56% +0.11
LOGI Logitech International-Reg New 0.10% +0.10
BSV Vanguard Short-Term Bond ETF Add +1.7% 0.77% +0.08
ADP Automatic Data Processing Add +18.9% 0.28% +0.08
ITW Illinois Tool Works Add +18.8% 0.30% +0.08
PAYX Paychex Inc. New 0.07% +0.07
DIS The Walt Disney Co. Add +0.7% 0.16% +0.06
MCD McDonald's Corp. Add +29.1% 0.19% +0.05
P Everpure Inc. Class A New 0.03% +0.03
WPC WP Carey Inc. New 0.02% +0.02
AMH American Homes 4 Rent- A New 0.02% +0.02
IRM Iron Mountain Inc. New 0.02% +0.02
EQH Equitable Holdings Inc. New 0.02% +0.02
GIL Gildan Activewear Inc. New 0.02% +0.02
CG The Carlyle Group Inc. New 0.02% +0.02
CNM Core & Main Inc. Class A New 0.02% +0.02
STLA Stellantis NV Add +2.5% 0.06% +0.02
BRBR Bellring Brands Inc. New 0.02% +0.02
NEE Nextera Energy Inc. Add +1.6% 0.09% +0.01
MRSH Marsh & McLennan Cos Add +1.6% 0.08% +0.01
ZION Zions Bancorp NA New 0.01% +0.01
ENB Enbridge Inc. Add +8.2% 0.07% +0.01
IVW iShares S&P 500 Growth ETF Add +1.8% 0.06% +0.01
AEP American Electric Power Add +26.3% 0.03% +0.01
SEE Sealed Air Corp. New 0.01% +0.01
CELH Celsius Holdings Inc. Add +2.9% 0.02% +0.01
MFC Manulife Financial Corp. Add +4.3% 0.04% +0.01
MGY Magnolia Oil & Gas Corp. Class A New 0.01% +0.01
DV Doubleverify Holdings Inc. New 0.01% +0.01
ALKS Alkermes PLC New 0.01% +0.01
ALTM Arcadium Lithium PLC New 0.01% +0.01
DXCM Dexcom Inc. Add +2.8% 0.04% +0.01
CM Can Imperial BK of Commerce Add +4.5% 0.05% +0.01
BOX Box Inc. Class A New 0.01% +0.01
TRP TC Energy Corp. Add +9.7% 0.04% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 15$1.2BAGG, VOO, NEAR, IVV, VXUS
Q1 2026 14$850.6MAGG, VOO, NEAR, VXUS, VCSH
Q4 2025 20$1.6BAGG, VOO, VEU, UITB, SPAB
Q3 2025 20$1.4BAGG, VOO, UITB, VEU, VXF
Q2 2025 19$962.6MAGG, UITB, VOO, VEU, VXF
Q1 2025 1,070$3.2BEMXC, AGG, VOO, UITB, AAPL
Q4 2024 390$3.1BAGG, VOO, AVGO, UITB, XOM
Q3 2024 380$3.9BAGG, IEMG, VOO, UITB, XOM
Q2 2024 452$3.9BAGG, IEMG, XOM, UITB, ABBV
Q1 2024 446$4.1BAGG, IEMG, XOM, AVGO, ABBV