Associated Banc-Corp

Green Bay, WI · CIK 7789 · 13F filing filed 2025-10-24

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)

$3.8bn reported value +7.7% vs Q2 2025

340positions

34.6%in top 10

25 new 134 added 139 reduced 6 sold out vs Q2 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, Q3 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	438,636	$227.2m5.98%	5.98%	Added +4.4k	+4,395 1.0%
2	NVIDIA CORPORATION COM NVDA	NVDA	978,486	$182.6m4.80%	4.80%	Reduced -8.1k	-8,149 -0.8%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	698,092	$169.7m4.47%	4.47%	Reduced -45.1k	-45,086 -6.1%
4	APPLE INC COM AAPL	AAPL	593,731	$151.2m3.98%	3.98%	Reduced -12.9k	-12,933 -2.1%
5	JPMORGAN CHASE & CO COM JPM	JPM	395,131	$124.6m3.28%	3.28%	Reduced -525	-525 -0.1%
6	AMAZON COM INC COM AMZN	AMZN	558,140	$122.6m3.23%	3.23%	Added +52.1k	+52,061 10.3%
7	LAM RESEARCH CORP COM NEW LRCX	LRCX	836,296	$112.0m2.95%	2.95%	Reduced -132.0k	-132,006 -13.6%
8	PHILIP MORRIS INTL INC COM PM	PM	562,807	$91.3m2.40%	2.40%	Added +13.0k	+13,045 2.4%
9	SERVICENOW INC COM NOW	NOW	78,237	$72.0m1.89%	1.89%	Added +5.2k	+5,151 7.0%
10	ASSOCIATED BANC CORP COM ASB	ASB	2,448,716	$63.0m1.66%	1.66%	Reduced -15.4k	-15,392 -0.6%
11	EXXON MOBIL CORP COM XOM	XOM	534,551	$60.3m1.59%	1.59%	Added +11.9k	+11,894 2.3%
12	RTX CORPORATION COM RTX	RTX	353,285	$59.1m1.56%	1.56%	Added +4.9k	+4,925 1.4%
13	KIMBERLY-CLARK CORP COM KMB	KMB	455,680	$56.7m1.49%	1.49%	Added +5.0k	+5,036 1.1%
14	VANGUARD INDEX FDS MID CAP ETF VO	VO	184,972	$54.3m1.43%	1.43%	Added +12.0k	+11,978 6.9%
15	META PLATFORMS INC CL A META	META	73,537	$54.0m1.42%	1.42%	Reduced -2.3k	-2,273 -3.0%
16	UBER TECHNOLOGIES INC COM UBER	UBER	515,232	$50.5m1.33%	1.33%	Added +25.8k	+25,795 5.3%
17	FISERV INC COM FISV	FISV	391,037	$50.4m1.33%	1.33%	Added +599	+599 0.1%
18	CAPITAL ONE FINL CORP COM COF	COF	236,870	$50.4m1.33%	1.33%	Reduced -9.9k	-9,894 -4.0%
19	SCHWAB CHARLES CORP COM SCHW	SCHW	487,084	$46.5m1.22%	1.22%	Added +4.4k	+4,360 0.9%
20	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	75,861	$46.5m1.22%	1.22%	Added +6.2k	+6,155 8.8%
21	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	89,567	$45.0m1.19%	1.19%	Reduced -157	-157 -0.2%
22	ELI LILLY & CO COM LLY	LLY	56,638	$43.2m1.14%	1.14%	Added +1.3k	+1,272 2.3%
23	SALESFORCE INC COM CRM	CRM	179,635	$42.6m1.12%	1.12%	Added +88.8k	+88,832 97.8%
24	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	60,746	$40.5m1.07%	1.07%	Reduced -296	-296 -0.5%
25	LOWES COS INC COM LOW	LOW	151,562	$38.1m1.00%	1.00%	Added +711	+711 0.5%
26	MONDELEZ INTL INC CL A MDLZ	MDLZ	585,829	$36.6m0.96%	0.96%	Added +2.4k	+2,423 0.4%
27	BOSTON SCIENTIFIC CORP COM BSX	BSX	372,443	$36.4m0.96%	0.96%	Added +383	+383 0.1%
28	PROCTER AND GAMBLE CO COM PG	PG	231,309	$35.5m0.94%	0.94%	Reduced -2.4k	-2,397 -1.0%
29	THE CIGNA GROUP COM CI	CI	119,259	$34.4m0.90%	0.90%	Added +2.4k	+2,422 2.1%
30	BLACKROCK INC COM BLK	BLK	28,926	$33.7m0.89%	0.89%	Reduced -93	-93 -0.3%
31	IQVIA HLDGS INC COM IQV	IQV	170,958	$32.5m0.85%	0.85%	Added +180	+180 0.1%
32	MASTERCARD INCORPORATED CL A MA	MA	56,114	$31.9m0.84%	0.84%	Reduced -1.1k	-1,056 -1.9%
33	EATON CORP PLC SHS ETN	ETN	83,857	$31.4m0.83%	0.83%	Reduced -3.3k	-3,346 -3.8%
34	MCDONALDS CORP COM MCD	MCD	99,669	$30.3m0.80%	0.80%	Added +301	+301 0.3%
35	JOHNSON & JOHNSON COM JNJ	JNJ	149,170	$27.7m0.73%	0.73%	Added +3.6k	+3,567 2.5%
36	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	350,421	$27.7m0.73%	0.73%	Added +10.2k	+10,194 3.0%
37	VANGUARD INDEX FDS SMALL CP ETF VB	VB	105,493	$26.8m0.71%	0.71%	Added +11.5k	+11,465 12.2%
38	AIR PRODS & CHEMS INC COM APD	APD	95,719	$26.1m0.69%	0.69%	Reduced -1.6k	-1,626 -1.7%
39	CHEVRON CORP NEW COM CVX	CVX	163,947	$25.5m0.67%	0.67%	Reduced -742	-742 -0.5%
40	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	52,356	$25.1m0.66%	0.66%	Reduced -4.5k	-4,535 -8.0%
41	ALPHABET INC CAP STK CL C GOOG	GOOG	102,324	$24.9m0.66%	0.66%	Reduced -1.1k	-1,056 -1.0%
42	NORTHROP GRUMMAN CORP COM NOC	NOC	39,619	$24.1m0.64%	0.64%	Reduced -81	-81 -0.2%
43	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	83,963	$23.7m0.62%	0.62%	Reduced -867	-867 -1.0%
44	ALLSTATE CORP COM ALL	ALL	109,054	$23.4m0.62%	0.62%	Reduced -470	-470 -0.4%
45	XCEL ENERGY INC COM XEL	XEL	285,129	$23.0m0.61%	0.61%	Reduced -3.0k	-3,047 -1.1%
46	AMERIPRISE FINL INC COM AMP	AMP	46,389	$22.8m0.60%	0.60%	Reduced -1.4k	-1,390 -2.9%
47	ISHARES TR CORE MSCI EAFE IEFA	IEFA	245,806	$21.5m0.56%	0.56%	Added +21.3k	+21,307 9.5%
48	CISCO SYS INC COM CSCO	CSCO	310,850	$21.3m0.56%	0.56%	Added +1.6k	+1,603 0.5%
49	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	43,447	$21.1m0.55%	0.55%	Reduced -968	-968 -2.2%
50	CUMMINS INC COM CMI	CMI	49,602	$21.0m0.55%	0.55%	Added +315	+315 0.6%
51	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	96,810	$20.9m0.55%	0.55%	Reduced -1.7k	-1,736 -1.8%
52	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	291,640	$20.8m0.55%	0.55%	Added +33.1k	+33,079 12.8%
53	UNION PAC CORP COM UNP	UNP	84,766	$20.0m0.53%	0.53%	Reduced -1.1k	-1,070 -1.2%
54	CATERPILLAR INC COM CAT	CAT	41,939	$20.0m0.53%	0.53%	Added +91	+91 0.2%
55	PEPSICO INC COM PEP	PEP	140,915	$19.8m0.52%	0.52%	Reduced -3.3k	-3,345 -2.3%
56	BANK AMERICA CORP COM BAC	BAC	361,890	$18.7m0.49%	0.49%	Added +1.8k	+1,760 0.5%
57	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	55,546	$18.2m0.48%	0.48%	Added +3.3k	+3,287 6.3%
58	COCA COLA CO COM KO	KO	271,811	$18.0m0.47%	0.47%	Added +5.6k	+5,570 2.1%
59	MEDTRONIC PLC SHS MDT	MDT	184,793	$17.6m0.46%	0.46%	Added +5.7k	+5,661 3.2%
60	UNITEDHEALTH GROUP INC COM UNH	UNH	50,855	$17.6m0.46%	0.46%	Reduced -3.4k	-3,409 -6.3%
61	ABBOTT LABS COM ABT	ABT	128,811	$17.3m0.45%	0.45%	Added +4.7k	+4,720 3.8%
62	ISHARES TR CORE S&P500 ETF IVV	IVV	25,133	$16.8m0.44%	0.44%	Added +687	+687 2.8%
63	VANGUARD INDEX FDS VALUE ETF VTV	VTV	89,805	$16.7m0.44%	0.44%	Reduced -6.2k	-6,151 -6.4%
64	PAYCOM SOFTWARE INC COM PAYC	PAYC	79,965	$16.6m0.44%	0.44%	Reduced -10.7k	-10,747 -11.8%
65	WOODWARD INC COM WWD	WWD	61,784	$15.6m0.41%	0.41%	Reduced -110	-110 -0.2%
66	ISHARES INC CORE MSCI EMKT IEMG	IEMG	235,231	$15.5m0.41%	0.41%	Reduced -2.7k	-2,716 -1.1%
67	SPDR SER TR S&P DIVID ETF SDY	SDY	106,833	$15.0m0.39%	0.39%	Reduced -528	-528 -0.5%
68	ISHARES TR EAFE VALUE ETF EFV	EFV	219,482	$14.9m0.39%	0.39%	Added +8.9k	+8,868 4.2%
69	ISHARES TR S&P 500 VAL ETF IVE	IVE	71,671	$14.8m0.39%	0.39%	Added +549	+549 0.8%
70	VANGUARD BD INDEX FDS INTERMED TERM BIV	BIV	182,800	$14.3m0.38%	0.38%	Added +2.3k	+2,332 1.3%
71	NEXTERA ENERGY INC COM NEE	NEE	188,518	$14.2m0.37%	0.37%	Added +229	+229 0.1%
72	SYSCO CORP COM SYY	SYY	172,643	$14.2m0.37%	0.37%	Reduced -787	-787 -0.5%
73	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	182,822	$13.6m0.36%	0.36%	Added +11.6k	+11,560 6.8%
74	WASTE MGMT INC DEL COM WM	WM	61,428	$13.6m0.36%	0.36%	Reduced -337	-337 -0.6%
75	PHILLIPS 66 COM PSX	PSX	97,406	$13.2m0.35%	0.35%	Reduced -787	-787 -0.8%
76	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	161,789	$12.4m0.33%	0.33%	Reduced -13.5k	-13,518 -7.7%
77	DANAHER CORPORATION COM DHR	DHR	62,176	$12.3m0.32%	0.32%	Reduced -5.1k	-5,134 -7.6%
78	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	223,127	$12.1m0.32%	0.32%	Added +12.0k	+11,955 5.7%
79	COMCAST CORP NEW CL A CMCSA	CMCSA	374,380	$11.8m0.31%	0.31%	Reduced -1.9k	-1,893 -0.5%
80	ISHARES TR S&P 500 GRWT ETF IVW	IVW	96,438	$11.6m0.31%	0.31%	Reduced -771	-771 -0.8%
81	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	18,776	$11.3m0.30%	0.30%	Added +1.7k	+1,688 9.9%
82	VANGUARD INDEX FDS MCAP GR IDXVIP VOT	VOT	38,284	$11.2m0.30%	0.30%	Added +10.3k	+10,304 36.8%
83	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	78,962	$11.1m0.29%	0.29%	Reduced -1.1k	-1,064 -1.3%
84	WALMART INC COM WMT	WMT	107,558	$11.1m0.29%	0.29%	Reduced -7.8k	-7,786 -6.8%
85	ISHARES TR RUS 1000 GRW ETF IWF	IWF	23,223	$10.9m0.29%	0.29%	Added +8.9k	+8,925 62.4%
86	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	171,052	$10.2m0.27%	0.27%	Added +10.8k	+10,779 6.7%
87	ABBVIE INC COM ABBV	ABBV	43,742	$10.1m0.27%	0.27%	Added +9.1k	+9,099 26.3%
88	HOME DEPOT INC COM HD	HD	24,561	$10.0m0.26%	0.26%	Reduced -32	-32 -0.1%
89	ISHARES TR CORE S&P MCP ETF IJH	IJH	151,185	$9.9m0.26%	0.26%	Reduced -6.3k	-6,267 -4.0%
90	SPDR GOLD TR GOLD SHS GLD	GLD	27,273	$9.7m0.26%	0.26%	Reduced -1.3k	-1,317 -4.6%
91	VANGUARD INDEX FDS MCAP VL IDXVIP VOE	VOE	54,531	$9.5m0.25%	0.25%	Added +10.6k	+10,574 24.1%
92	SOUTHERN CO COM SO	SO	95,669	$9.1m0.24%	0.24%	Reduced -781	-781 -0.8%
93	NETFLIX INC COM NFLX	NFLX	7,458	$8.9m0.24%	0.24%	Added +303	+303 4.2%
94	STRYKER CORPORATION COM SYK	SYK	23,535	$8.7m0.23%	0.23%	Added +447	+447 1.9%
95	ISHARES TR S&P MC 400GR ETF IJK	IJK	87,498	$8.4m0.22%	0.22%	Reduced -1.4k	-1,450 -1.6%
96	MERCK & CO INC COM MRK	MRK	97,859	$8.2m0.22%	0.22%	Reduced -7.6k	-7,592 -7.2%
97	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	86,472	$7.9m0.21%	0.21%	Reduced -4.5k	-4,530 -5.0%
98	T-MOBILE US INC COM TMUS	TMUS	32,623	$7.8m0.21%	0.21%	Added +6.7k	+6,720 25.9%
99	ISHARES TR RUS 1000 VAL ETF IWD	IWD	36,901	$7.5m0.20%	0.20%	Reduced -2.0k	-2,001 -5.1%
100	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	52,182	$7.3m0.19%	0.19%	Added +10.4k	+10,407 24.9%

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
RLI CORP RLI	RLI	4,413	$318.7k4.4k shares
BADGER METER INC BMI	BMI	1,000	$244.9k1.0k shares
CARRIER GLOBAL CORPORATION CARR	CARR	3,110	$227.6k3.1k shares
JOHNSON CTLS INTL PLC JCI	JCI	2,146	$226.7k2.1k shares
KADANT INC KAI	KAI	637	$202.2k637 shares
CROWDSTRIKE HLDGS INC CRWD	CRWD	394	$200.7k394 shares