Associated Banc-Corp

Green Bay, WI · CIK 7789 · 13F filing filed 2025-08-12

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityASSOCIATED BANC-CORP (US)

$3.5bn reported value +7.6% vs Q1 2025

321positions

33.7%in top 10

16 new 97 added 174 reduced 15 sold out vs Q1 2025

This report includes the holdings of 1 other manager that shares the investment decisions:

Associated Trust Company, N.A. – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	434,241	$216.0m6.12%	6.12%	Reduced -4.9k	-4,862 -1.1%
2	NVIDIA CORPORATION COM NVDA	NVDA	986,635	$155.9m4.42%	4.42%	Added +8.5k	+8,534 0.9%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	743,178	$131.0m3.71%	3.71%	Reduced -5.2k	-5,158 -0.7%
4	APPLE INC COM AAPL	AAPL	606,664	$124.5m3.53%	3.53%	Reduced -22.7k	-22,659 -3.6%
5	JPMORGAN CHASE & CO COM JPM	JPM	395,656	$114.7m3.25%	3.25%	Reduced -4.8k	-4,833 -1.2%
6	AMAZON COM INC COM AMZN	AMZN	506,079	$111.0m3.15%	3.15%	Reduced -1.8k	-1,812 -0.4%
7	PHILIP MORRIS INTL INC COM PM	PM	549,762	$100.1m2.84%	2.84%	Added +5.8k	+5,792 1.1%
8	LAM RESEARCH CORP COM NEW LRCX	LRCX	968,302	$94.3m2.67%	2.67%	Added +4.9k	+4,912 0.5%
9	SERVICENOW INC COM NOW	NOW	73,086	$75.1m2.13%	2.13%	Added +35	+35 0.1%
10	FISERV INC COM FISV	FISV	390,438	$67.3m1.91%	1.91%	Reduced -2.2k	-2,157 -0.6%
11	ASSOCIATED BANC CORP COM ASB	ASB	2,464,108	$60.1m1.70%	1.70%	Reduced -59.5k	-59,511 -2.4%
12	KIMBERLY-CLARK CORP COM KMB	KMB	450,644	$58.1m1.65%	1.65%	Reduced -2.0k	-2,031 -0.5%
13	EXXON MOBIL CORP COM XOM	XOM	522,657	$56.3m1.60%	1.60%	Reduced -816	-816 -0.2%
14	META PLATFORMS INC CL A META	META	75,810	$56.0m1.59%	1.59%	Reduced -407	-407 -0.5%
15	CAPITAL ONE FINL CORP COM COF	COF	246,764	$52.5m1.49%	1.49%	Added +232.6k	+232,613 1643.8%
16	RTX CORPORATION COM RTX	RTX	348,360	$50.9m1.44%	1.44%	Added +3.6k	+3,565 1.0%
17	VANGUARD INDEX FDS MID CAP ETF VO	VO	172,994	$48.4m1.37%	1.37%	Added +12.8k	+12,807 8.0%
18	UBER TECHNOLOGIES INC COM UBER	UBER	489,437	$45.7m1.29%	1.29%	Added +47.4k	+47,424 10.7%
19	SCHWAB CHARLES CORP COM SCHW	SCHW	482,724	$44.0m1.25%	1.25%	Added +5.9k	+5,885 1.2%
20	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	89,724	$43.6m1.24%	1.24%	Reduced -673	-673 -0.7%
21	ELI LILLY & CO COM LLY	LLY	55,366	$43.2m1.22%	1.22%	Added +869	+869 1.6%
22	BOSTON SCIENTIFIC CORP COM BSX	BSX	372,060	$40.0m1.13%	1.13%	Reduced -2.8k	-2,821 -0.8%
23	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	69,706	$39.6m1.12%	1.12%	Added +2.4k	+2,436 3.6%
24	MONDELEZ INTL INC CL A MDLZ	MDLZ	583,406	$39.3m1.12%	1.12%	Reduced -5.9k	-5,885 -1.0%
25	THE CIGNA GROUP COM CI	CI	116,837	$38.6m1.09%	1.09%	Added +396	+396 0.3%
26	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	61,042	$37.7m1.07%	1.07%	Reduced -28	-28 -0.1%
27	PROCTER AND GAMBLE CO COM PG	PG	233,706	$37.2m1.06%	1.06%	Reduced -6.2k	-6,204 -2.6%
28	LOWES COS INC COM LOW	LOW	150,851	$33.5m0.95%	0.95%	Added +831	+831 0.6%
29	MASTERCARD INCORPORATED CL A MA	MA	57,170	$32.1m0.91%	0.91%	Reduced -1.8k	-1,802 -3.1%
30	EATON CORP PLC SHS ETN	ETN	87,203	$31.1m0.88%	0.88%	Reduced -7.5k	-7,504 -7.9%
31	BLACKROCK INC COM BLK	BLK	29,019	$30.4m0.86%	0.86%	Reduced -324	-324 -1.1%
32	MCDONALDS CORP COM MCD	MCD	99,368	$29.0m0.82%	0.82%	Reduced -1.7k	-1,665 -1.6%
33	AIR PRODS & CHEMS INC COM APD	APD	97,345	$27.5m0.78%	0.78%	Reduced -932	-932 -0.9%
34	IQVIA HLDGS INC COM IQV	IQV	170,778	$26.9m0.76%	0.76%	Added +356	+356 0.2%
35	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	340,227	$26.8m0.76%	0.76%	Added +11.2k	+11,239 3.4%
36	AMERIPRISE FINL INC COM AMP	AMP	47,779	$25.5m0.72%	0.72%	Reduced -440	-440 -0.9%
37	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	56,891	$24.9m0.71%	0.71%	Added +120	+120 0.2%
38	SALESFORCE INC COM CRM	CRM	90,803	$24.8m0.70%	0.70%	New
39	CHEVRON CORP NEW COM CVX	CVX	164,689	$23.6m0.67%	0.67%	Added +4.0k	+3,997 2.5%
40	VANGUARD INDEX FDS SMALL CP ETF VB	VB	94,028	$22.3m0.63%	0.63%	Added +13.0k	+12,999 16.0%
41	JOHNSON & JOHNSON COM JNJ	JNJ	145,603	$22.2m0.63%	0.63%	Reduced -3.5k	-3,508 -2.4%
42	ALLSTATE CORP COM ALL	ALL	109,524	$22.0m0.62%	0.62%	Reduced -2.8k	-2,770 -2.5%
43	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	84,830	$21.5m0.61%	0.61%	Reduced -7.6k	-7,602 -8.2%
44	CISCO SYS INC COM CSCO	CSCO	309,247	$21.5m0.61%	0.61%	Added +7.3k	+7,286 2.4%
45	PAYCOM SOFTWARE INC COM PAYC	PAYC	90,712	$21.0m0.59%	0.59%	Reduced -61.2k	-61,220 -40.3%
46	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	98,546	$20.2m0.57%	0.57%	Reduced -4.0k	-3,984 -3.9%
47	NORTHROP GRUMMAN CORP COM NOC	NOC	39,700	$19.8m0.56%	0.56%	Reduced -818	-818 -2.0%
48	UNION PAC CORP COM UNP	UNP	85,836	$19.7m0.56%	0.56%	Reduced -3.7k	-3,667 -4.1%
49	XCEL ENERGY INC COM XEL	XEL	288,176	$19.6m0.56%	0.56%	Reduced -3.0k	-3,017 -1.0%
50	PEPSICO INC COM PEP	PEP	144,260	$19.0m0.54%	0.54%	Reduced -7.1k	-7,091 -4.7%
51	COCA COLA CO COM KO	KO	266,241	$18.8m0.53%	0.53%	Reduced -5.5k	-5,544 -2.0%
52	ISHARES TR CORE MSCI EAFE IEFA	IEFA	224,499	$18.7m0.53%	0.53%	Added +15.4k	+15,398 7.4%
53	ALPHABET INC CAP STK CL C GOOG	GOOG	103,380	$18.3m0.52%	0.52%	Reduced -2.3k	-2,258 -2.1%
54	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	44,415	$18.0m0.51%	0.51%	Reduced -862	-862 -1.9%
55	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	258,561	$17.4m0.49%	0.49%	Added +36.7k	+36,739 16.6%
56	BANK AMERICA CORP COM BAC	BAC	360,130	$17.0m0.48%	0.48%	Reduced -10.1k	-10,053 -2.7%
57	VANGUARD INDEX FDS VALUE ETF VTV	VTV	95,956	$17.0m0.48%	0.48%	Added +113	+113 0.1%
58	UNITEDHEALTH GROUP INC COM UNH	UNH	54,264	$16.9m0.48%	0.48%	Reduced -2.0k	-1,999 -3.5%
59	ABBOTT LABS COM ABT	ABT	124,091	$16.9m0.48%	0.48%	Reduced -4.3k	-4,317 -3.4%
60	CATERPILLAR INC COM CAT	CAT	41,848	$16.2m0.46%	0.46%	Reduced -10.6k	-10,593 -20.2%
61	CUMMINS INC COM CMI	CMI	49,287	$16.1m0.46%	0.46%	Reduced -161	-161 -0.3%
62	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	52,259	$15.9m0.45%	0.45%	Reduced -4.1k	-4,091 -7.3%
63	MEDTRONIC PLC SHS MDT	MDT	179,132	$15.6m0.44%	0.44%	Reduced -1.1k	-1,050 -0.6%
64	ISHARES TR CORE S&P500 ETF IVV	IVV	24,446	$15.2m0.43%	0.43%	Added +481	+481 2.0%
65	WOODWARD INC COM WWD	WWD	61,894	$15.2m0.43%	0.43%	Reduced -180	-180 -0.3%
66	SPDR SER TR S&P DIVID ETF SDY	SDY	107,361	$14.6m0.41%	0.41%	Reduced -598	-598 -0.6%
67	ISHARES INC CORE MSCI EMKT IEMG	IEMG	237,947	$14.3m0.40%	0.40%	Added +1.6k	+1,634 0.7%
68	WASTE MGMT INC DEL COM WM	WM	61,765	$14.1m0.40%	0.40%	Reduced -1.8k	-1,774 -2.8%
69	VANGUARD BD INDEX FDS INTERMED TERM BIV	BIV	180,468	$14.0m0.40%	0.40%	Added +8.1k	+8,104 4.7%
70	ISHARES TR S&P 500 VAL ETF IVE	IVE	71,122	$13.9m0.39%	0.39%	Added +6.5k	+6,474 10.0%
71	COMCAST CORP NEW CL A CMCSA	CMCSA	376,273	$13.4m0.38%	0.38%	Reduced -488	-488 -0.1%
72	ISHARES TR EAFE VALUE ETF EFV	EFV	210,614	$13.4m0.38%	0.38%	Added +30.3k	+30,254 16.8%
73	DANAHER CORPORATION COM DHR	DHR	67,310	$13.3m0.38%	0.38%	Reduced -2.3k	-2,326 -3.3%
74	SYSCO CORP COM SYY	SYY	173,430	$13.1m0.37%	0.37%	Reduced -1.2k	-1,210 -0.7%
75	NEXTERA ENERGY INC COM NEE	NEE	188,289	$13.1m0.37%	0.37%	Reduced -4.6k	-4,628 -2.4%
76	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	171,262	$12.6m0.36%	0.36%	Added +875	+875 0.5%
77	PHILLIPS 66 COM PSX	PSX	98,193	$11.7m0.33%	0.33%	Reduced -4.2k	-4,150 -4.0%
78	WALMART INC COM WMT	WMT	115,344	$11.3m0.32%	0.32%	Reduced -4.1k	-4,127 -3.5%
79	ISHARES TR S&P 500 GRWT ETF IVW	IVW	97,209	$10.7m0.30%	0.30%	Added +8.9k	+8,911 10.1%
80	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	80,026	$10.7m0.30%	0.30%	Added +3.2k	+3,246 4.2%
81	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	211,172	$10.4m0.30%	0.30%	Added +106.1k	+106,146 101.1%
82	ISHARES TR CORE S&P MCP ETF IJH	IJH	157,452	$9.8m0.28%	0.28%	Added +494	+494 0.3%
83	NETFLIX INC COM NFLX	NFLX	7,155	$9.6m0.27%	0.27%	Added +121	+121 1.7%
84	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	17,088	$9.4m0.27%	0.27%	Added +1.7k	+1,666 10.8%
85	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	160,273	$9.1m0.26%	0.26%	Added +20.7k	+20,721 14.8%
86	STRYKER CORPORATION COM SYK	SYK	23,088	$9.1m0.26%	0.26%	Added +826	+826 3.7%
87	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	175,307	$9.1m0.26%	0.26%	Reduced -15.7k	-15,726 -8.2%
88	HOME DEPOT INC COM HD	HD	24,593	$9.0m0.26%	0.26%	Reduced -327	-327 -1.3%
89	SOUTHERN CO COM SO	SO	96,450	$8.9m0.25%	0.25%	Reduced -1.5k	-1,526 -1.6%
90	SPDR GOLD TR GOLD SHS GLD	GLD	28,590	$8.7m0.25%	0.25%	Added +4.5k	+4,532 18.8%
91	MERCK & CO INC COM MRK	MRK	105,451	$8.3m0.24%	0.24%	Reduced -14.4k	-14,361 -12.0%
92	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	91,002	$8.1m0.23%	0.23%	Reduced -33.8k	-33,844 -27.1%
93	ISHARES TR S&P MC 400GR ETF IJK	IJK	88,948	$8.1m0.23%	0.23%	Reduced -3.8k	-3,799 -4.1%
94	VANGUARD INDEX FDS MCAP GR IDXVIP VOT	VOT	27,980	$8.0m0.23%	0.23%	Added +6.0k	+6,016 27.4%
95	HONEYWELL INTL INC COM COM		32,715	$7.6m0.22%	0.22%	Reduced -2.0k	-2,023 -5.8%
96	STARBUCKS CORP COM SBUX	SBUX	82,827	$7.6m0.22%	0.22%	Reduced -925	-925 -1.1%
97	ISHARES TR RUS 1000 VAL ETF IWD	IWD	38,902	$7.6m0.21%	0.21%	Reduced -953	-953 -2.4%
98	DISNEY WALT CO COM DIS	DIS	59,409	$7.4m0.21%	0.21%	Added +448	+448 0.8%
99	VANGUARD INDEX FDS MCAP VL IDXVIP VOE	VOE	43,957	$7.2m0.20%	0.20%	Added +10.7k	+10,704 32.2%
100	ZOETIS INC CL A ZTS	ZTS	44,896	$7.0m0.20%	0.20%	Reduced -923	-923 -2.0%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
DISCOVER FINL SVCS DFS	DFS	230,159	$39.3m230.2k shares
VANGUARD MUN BD FDS VTEB	VTEB	9,233	$458.1k9.2k shares
ISHARES TR QUAL	QUAL	2,256	$385.5k2.3k shares
VANGUARD WORLD FD VCR	VCR	1,071	$348.6k1.1k shares
TRANSDIGM GROUP INC TDG	TDG	175	$242.1k175 shares
MORNINGSTAR INC MORN	MORN	782	$234.5k782 shares
PAYLOCITY HLDG CORP PCTY	PCTY	1,207	$226.1k1.2k shares
SPDR SERIES TRUST SPYG	SPYG	2,761	$221.9k2.8k shares
MARSH & MCLENNAN COS INC MRSH	MRSH	896	$218.7k896 shares
LINDE PLC LIN	LIN	464	$216.1k464 shares
PROGRESSIVE CORP PGR	PGR	755	$213.7k755 shares
POOL CORP POOL	POOL	669	$213.0k669 shares
VANGUARD INDEX FDS VV	VV	813	$209.0k813 shares
BROWN FORMAN CORP BF.B	BF.B	6,065	$205.8k6.1k shares
SCHWAB STRATEGIC TR SCHF	SCHF	10,024	$198.3k10.0k shares