Associated Banc-Corp

Green Bay, WI · CIK 7789 · 13F filing filed 2026-02-06

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)

$3.9bn reported value +2.8% vs Q3 2025

333positions

35.5%in top 10

12 new 116 added 172 reduced 19 sold out vs Q3 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, Q4 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	ALPHABET INC CAP STK CL A GOOGL	GOOGL	687,596	$215.2m5.51%	5.51%	Reduced -10.5k	-10,496 -1.5%
2	MICROSOFT CORP COM MSFT	MSFT	436,244	$211.0m5.40%	5.40%	Reduced -2.4k	-2,392 -0.6%
3	NVIDIA CORPORATION COM NVDA	NVDA	977,591	$182.3m4.67%	4.67%	Reduced -895	-895 -0.1%
4	APPLE INC COM AAPL	AAPL	580,600	$157.8m4.04%	4.04%	Reduced -13.1k	-13,131 -2.2%
5	AMAZON COM INC COM AMZN	AMZN	581,327	$134.2m3.44%	3.44%	Added +23.2k	+23,187 4.2%
6	LAM RESEARCH CORP COM NEW LRCX	LRCX	774,930	$132.7m3.40%	3.40%	Reduced -61.4k	-61,366 -7.3%
7	JPMORGAN CHASE & CO COM JPM	JPM	393,395	$126.8m3.25%	3.25%	Reduced -1.7k	-1,736 -0.4%
8	PHILIP MORRIS INTL INC COM PM	PM	570,173	$91.5m2.34%	2.34%	Added +7.4k	+7,366 1.3%
9	VANGUARD INDEX FDS MID CAP ETF VO	VO	234,703	$68.1m1.74%	1.74%	Added +49.7k	+49,731 26.9%
10	ASSOCIATED BANC CORP COM ASB	ASB	2,631,339	$67.8m1.74%	1.74%	Added +182.6k	+182,623 7.5%
11	RTX CORPORATION COM RTX	RTX	359,025	$65.8m1.69%	1.69%	Added +5.7k	+5,740 1.6%
12	EXXON MOBIL CORP COM XOM	XOM	539,635	$64.9m1.66%	1.66%	Added +5.1k	+5,084 0.9%
13	ELI LILLY & CO COM LLY	LLY	58,036	$62.4m1.60%	1.60%	Added +1.4k	+1,398 2.5%
14	SERVICENOW INC COM NOW	NOW	399,210	$61.2m1.57%	1.57%	Added +8.0k	+8,025 2.0%
15	CAPITAL ONE FINL CORP COM COF	COF	234,478	$56.8m1.45%	1.45%	Reduced -2.4k	-2,392 -1.0%
16	SALESFORCE INC COM CRM	CRM	212,311	$56.2m1.44%	1.44%	Added +32.7k	+32,676 18.2%
17	SCHWAB CHARLES CORP COM SCHW	SCHW	504,122	$50.4m1.29%	1.29%	Added +17.0k	+17,038 3.5%
18	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	96,162	$48.3m1.24%	1.24%	Added +6.6k	+6,595 7.4%
19	UBER TECHNOLOGIES INC COM UBER	UBER	570,226	$46.6m1.19%	1.19%	Added +55.0k	+54,994 10.7%
20	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	74,231	$46.6m1.19%	1.19%	Reduced -1.6k	-1,630 -2.1%
21	META PLATFORMS INC CL A META	META	70,054	$46.2m1.18%	1.18%	Reduced -3.5k	-3,483 -4.7%
22	KIMBERLY-CLARK CORP COM KMB	KMB	445,707	$45.0m1.15%	1.15%	Reduced -10.0k	-9,973 -2.2%
23	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	60,199	$41.1m1.05%	1.05%	Reduced -547	-547 -0.9%
24	IQVIA HLDGS INC COM IQV	IQV	176,163	$39.7m1.02%	1.02%	Added +5.2k	+5,205 3.0%
25	LOWES COS INC COM LOW	LOW	154,403	$37.2m0.95%	0.95%	Added +2.8k	+2,841 1.9%
26	BOSTON SCIENTIFIC CORP COM BSX	BSX	373,832	$35.6m0.91%	0.91%	Added +1.4k	+1,389 0.4%
27	THE CIGNA GROUP COM CI	CI	119,296	$32.8m0.84%	0.84%	Added +37	+37 0.0%
28	MASTERCARD INCORPORATED CL A MA	MA	56,316	$32.1m0.82%	0.82%	Added +202	+202 0.4%
29	PROCTER AND GAMBLE CO COM PG	PG	223,550	$32.0m0.82%	0.82%	Reduced -7.8k	-7,759 -3.4%
30	ALPHABET INC CAP STK CL C GOOG	GOOG	99,165	$31.1m0.80%	0.80%	Reduced -3.2k	-3,159 -3.1%
31	BLACKROCK INC COM BLK	BLK	28,885	$30.9m0.79%	0.79%	Reduced -41	-41 -0.1%
32	MONDELEZ INTL INC CL A MDLZ	MDLZ	568,135	$30.6m0.78%	0.78%	Reduced -17.7k	-17,694 -3.0%
33	VANGUARD INDEX FDS SMALL CP ETF VB	VB	118,078	$30.5m0.78%	0.78%	Added +12.6k	+12,585 11.9%
34	JOHNSON & JOHNSON COM JNJ	JNJ	146,492	$30.3m0.78%	0.78%	Reduced -2.7k	-2,678 -1.8%
35	MCDONALDS CORP COM MCD	MCD	98,244	$30.0m0.77%	0.77%	Reduced -1.4k	-1,425 -1.4%
36	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	340,916	$26.9m0.69%	0.69%	Reduced -9.5k	-9,505 -2.7%
37	EATON CORP PLC SHS ETN	ETN	81,435	$25.9m0.66%	0.66%	Reduced -2.4k	-2,422 -2.9%
38	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	43,471	$25.2m0.64%	0.64%	Added +24	+24 0.1%
39	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	50,946	$24.9m0.64%	0.64%	Reduced -1.4k	-1,410 -2.7%
40	CUMMINS INC COM CMI	CMI	48,155	$24.6m0.63%	0.63%	Reduced -1.4k	-1,447 -2.9%
41	CISCO SYS INC COM CSCO	CSCO	315,942	$24.3m0.62%	0.62%	Added +5.1k	+5,092 1.6%
42	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	329,094	$24.2m0.62%	0.62%	Added +37.5k	+37,454 12.8%
43	CHEVRON CORP NEW COM CVX	CVX	158,736	$24.2m0.62%	0.62%	Reduced -5.2k	-5,211 -3.2%
44	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	167,721	$24.1m0.62%	0.62%	Reduced -205	-205 -0.1%
45	CATERPILLAR INC COM CAT	CAT	41,160	$23.6m0.60%	0.60%	Reduced -779	-779 -1.9%
46	ISHARES TR CORE MSCI EAFE IEFA	IEFA	263,556	$23.6m0.60%	0.60%	Added +17.8k	+17,750 7.2%
47	AIR PRODS & CHEMS INC COM APD	APD	94,521	$23.3m0.60%	0.60%	Reduced -1.2k	-1,198 -1.2%
48	NORTHROP GRUMMAN CORP COM NOC	NOC	39,990	$22.8m0.58%	0.58%	Added +371	+371 0.9%
49	AMERIPRISE FINL INC COM AMP	AMP	46,369	$22.7m0.58%	0.58%	Reduced -20	-20 -0.0%
50	ALLSTATE CORP COM ALL	ALL	107,964	$22.5m0.58%	0.58%	Reduced -1.1k	-1,090 -1.0%
51	VANGUARD INDEX FDS MCAP GR IDXVIP VOT	VOT	80,175	$22.4m0.57%	0.57%	Added +41.9k	+41,891 109.4%
52	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	97,982	$21.5m0.55%	0.55%	Added +1.2k	+1,172 1.2%
53	UNION PAC CORP COM UNP	UNP	89,738	$20.8m0.53%	0.53%	Added +5.0k	+4,972 5.9%
54	XCEL ENERGY INC COM XEL	XEL	280,741	$20.7m0.53%	0.53%	Reduced -4.4k	-4,388 -1.5%
55	BANK AMERICA CORP COM BAC	BAC	364,438	$20.0m0.51%	0.51%	Added +2.5k	+2,548 0.7%
56	PEPSICO INC COM PEP	PEP	138,500	$19.9m0.51%	0.51%	Reduced -2.4k	-2,415 -1.7%
57	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	125,788	$19.7m0.50%	0.50%	Added +73.6k	+73,606 141.1%
58	COCA COLA CO COM KO	KO	268,282	$18.8m0.48%	0.48%	Reduced -3.5k	-3,529 -1.3%
59	ISHARES TR CORE S&P500 ETF IVV	IVV	27,182	$18.6m0.48%	0.48%	Added +2.0k	+2,049 8.2%
60	WOODWARD INC COM WWD	WWD	61,379	$18.6m0.48%	0.48%	Reduced -405	-405 -0.7%
61	MEDTRONIC PLC SHS MDT	MDT	182,964	$17.6m0.45%	0.45%	Reduced -1.8k	-1,829 -1.0%
62	VANGUARD INDEX FDS VALUE ETF VTV	VTV	88,951	$17.0m0.43%	0.43%	Reduced -854	-854 -0.9%
63	UNITEDHEALTH GROUP INC COM UNH	UNH	50,676	$16.7m0.43%	0.43%	Reduced -179	-179 -0.3%
64	ISHARES INC CORE MSCI EMKT IEMG	IEMG	244,123	$16.4m0.42%	0.42%	Added +8.9k	+8,892 3.8%
65	ISHARES TR EAFE VALUE ETF EFV	EFV	222,026	$15.9m0.41%	0.41%	Added +2.5k	+2,544 1.2%
66	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	46,273	$15.5m0.40%	0.40%	Reduced -9.3k	-9,273 -16.7%
67	NEXTERA ENERGY INC COM NEE	NEE	190,085	$15.3m0.39%	0.39%	Added +1.6k	+1,567 0.8%
68	SPDR SER TR S&P DIVID ETF SDY	SDY	108,878	$15.2m0.39%	0.39%	Added +2.0k	+2,045 1.9%
69	ABBOTT LABS COM ABT	ABT	120,607	$15.1m0.39%	0.39%	Reduced -8.2k	-8,204 -6.4%
70	ISHARES TR S&P 500 VAL ETF IVE	IVE	67,226	$14.3m0.36%	0.36%	Reduced -4.4k	-4,445 -6.2%
71	VANGUARD BD INDEX FDS INTERMED TERM BIV	BIV	182,035	$14.2m0.36%	0.36%	Reduced -765	-765 -0.4%
72	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	23,010	$14.1m0.36%	0.36%	Added +4.2k	+4,234 22.6%
73	ISHARES TR RUS 1000 GRW ETF IWF	IWF	29,373	$13.9m0.36%	0.36%	Added +6.2k	+6,150 26.5%
74	DANAHER CORPORATION COM DHR	DHR	60,231	$13.8m0.35%	0.35%	Reduced -1.9k	-1,945 -3.1%
75	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	184,844	$13.7m0.35%	0.35%	Added +2.0k	+2,022 1.1%
76	WASTE MGMT INC DEL COM WM	WM	61,026	$13.4m0.34%	0.34%	Reduced -402	-402 -0.7%
77	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	247,223	$13.3m0.34%	0.34%	Added +24.1k	+24,096 10.8%
78	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	152,991	$13.1m0.34%	0.34%	Reduced -8.8k	-8,798 -5.4%
79	PAYCOM SOFTWARE INC COM PAYC	PAYC	82,227	$13.1m0.34%	0.34%	Added +2.3k	+2,262 2.8%
80	SPDR GOLD TR GOLD SHS GLD	GLD	32,661	$12.9m0.33%	0.33%	Added +5.4k	+5,388 19.8%
81	SYSCO CORP COM SYY	SYY	172,561	$12.7m0.33%	0.33%	Reduced -82	-82 -0.1%
82	PHILLIPS 66 COM PSX	PSX	96,842	$12.5m0.32%	0.32%	Reduced -564	-564 -0.6%
83	VANGUARD INDEX FDS MCAP VL IDXVIP VOE	VOE	69,230	$12.3m0.31%	0.31%	Added +14.7k	+14,699 27.0%
84	WALMART INC COM WMT	WMT	105,531	$11.8m0.30%	0.30%	Reduced -2.0k	-2,027 -1.9%
85	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	184,397	$11.5m0.29%	0.29%	Added +13.3k	+13,345 7.8%
86	COMCAST CORP NEW CL A CMCSA	CMCSA	366,216	$10.9m0.28%	0.28%	Reduced -8.2k	-8,164 -2.2%
87	ISHARES TR S&P 500 GRWT ETF IVW	IVW	88,264	$10.9m0.28%	0.28%	Reduced -8.2k	-8,174 -8.5%
88	MERCK & CO INC COM MRK	MRK	101,341	$10.7m0.27%	0.27%	Added +3.5k	+3,482 3.6%
89	FISERV INC COM FISV	FISV	156,340	$10.5m0.27%	0.27%	Reduced -234.7k	-234,697 -60.0%
90	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	72,355	$10.4m0.27%	0.27%	Reduced -6.6k	-6,607 -8.4%
91	NETFLIX INC COM NFLX	NFLX	101,542	$9.5m0.24%	0.24%	Added +27.0k	+26,962 36.1%
92	ISHARES TR CORE S&P MCP ETF IJH	IJH	143,136	$9.4m0.24%	0.24%	Reduced -8.0k	-8,049 -5.3%
93	ABBVIE INC COM ABBV	ABBV	40,775	$9.3m0.24%	0.24%	Reduced -3.0k	-2,967 -6.8%
94	ISHARES TR RUSSELL 2000 ETF IWM	IWM	36,971	$9.1m0.23%	0.23%	Added +10.1k	+10,148 37.8%
95	ZOETIS INC CL A ZTS	ZTS	69,117	$8.7m0.22%	0.22%	Added +22.5k	+22,493 48.2%
96	ISHARES TR S&P MC 400GR ETF IJK	IJK	87,365	$8.5m0.22%	0.22%	Reduced -133	-133 -0.1%
97	HOME DEPOT INC COM HD	HD	24,019	$8.3m0.21%	0.21%	Reduced -542	-542 -2.2%
98	STRYKER CORPORATION COM SYK	SYK	23,496	$8.3m0.21%	0.21%	Reduced -39	-39 -0.2%
99	SOUTHERN CO COM SO	SO	92,947	$8.1m0.21%	0.21%	Reduced -2.7k	-2,722 -2.9%
100	US BANCORP DEL COM NEW USB	USB	150,974	$8.1m0.21%	0.21%	Reduced -620	-620 -0.4%

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
ISHARES TR IBDQ	IBDQ	114,900	$2.9m114.9k shares
ISHARES TR		77,140	$1.8m77.1k shares
HERSHEY CO HSY	HSY	3,988	$746.0k4.0k shares
EVERGY INC EVRG	EVRG	6,738	$512.2k6.7k shares
SMUCKER J M CO SJM	SJM	4,572	$496.5k4.6k shares
INGREDION INC INGR	INGR	3,494	$426.7k3.5k shares
CARLISLE COS INC CSL	CSL	1,098	$361.2k1.1k shares
UNILEVER PLC		5,374	$318.6k5.4k shares
SYNCHRONY FINANCIAL SYF	SYF	4,322	$307.1k4.3k shares
DOW INC DOW	DOW	12,323	$282.6k12.3k shares
MICROSTRATEGY INC MSTR	MSTR	805	$259.4k805 shares
FIDELITY ETHEREUM FD FETH	FETH	6,040	$251.0k6.0k shares
OLLIES BARGAIN OUTLET HLDGS OLLI	OLLI	1,754	$225.2k1.8k shares
NORFOLK SOUTHN CORP NSC	NSC	744	$223.5k744 shares
MEDPACE HLDGS INC MEDP	MEDP	434	$223.1k434 shares
SHELL PLC SHEL	SHEL	3,057	$218.7k3.1k shares
BANK OZK LITTLE ROCK ARK OZK	OZK	4,234	$215.8k4.2k shares
MARSH & MCLENNAN COS INC MRSH	MRSH	1,011	$203.7k1.0k shares
ENPRO INC NPO	NPO	901	$203.6k901 shares