ASSOCIATED BANC CORP ASB
COM · Common Stock · CUSIP 045487105
American regional banker
- SectorFinancials
- IndustryState Commercial Banks
- HeadquartersGreen Bay, WI
- Founded1861
- Websiteassociatedbank.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.8m this quarter). Holder counts are more reliable. Shares outstanding: 165.8m as of 2025-04-25, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $22.52. Options: 7 managers hold calls ($3.0m notional), 5 hold puts ($556.5k).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 282 |
| Q4 2022 | 307 |
| Q1 2023 | 279 |
| Q2 2023 | 265 |
| Q3 2023 | 273 |
| Q4 2023 | 276 |
| Q1 2024 | 273 |
| Q2 2024 | 278 |
| Q3 2024 | 295 |
| Q4 2024 | 307 |
| Q1 2025 | 302 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 100 | 157 |
| Q3 2023 | 125 | 119 |
| Q4 2023 | 114 | 123 |
| Q1 2024 | 108 | 134 |
| Q2 2024 | 125 | 121 |
| Q3 2024 | 132 | 124 |
| Q4 2024 | 162 | 110 |
| Q1 2025 | 145 | 139 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $3.2m | $501.3k | 0.16 |
| Q3 2024 | $4.3m | $36.6k | 0.01 |
| Q4 2024 | $3.5m | $1.8m | 0.52 |
| Q1 2025 | $3.0m | $556.5k | 0.19 |
Biggest buyers
| GOLDMAN SACHS GROUP INC | Added | +1.6m |
| MACQUARIE GROUP LTD | Added | +1.5m |
| AQR CAPITAL MANAGEMENT LLC | Added | +1.3m |
| FIRST TRUST ADVISORS LP | Added | +938.2k |
| Invesco Ltd. | Added | +594.4k |
| Leeward Investments, LLC - MA | New | +548.0k |
| HEARTLAND ADVISORS INC | Added | +369.5k |
| NORGES BANK | Added | +364.9k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +234.2k |
| BANK OF AMERICA CORP /DE/ | Added | +220.6k |
Biggest sellers
| Balyasny Asset Management L.P. | Reduced | -1.4m |
| Verition Fund Management LLC | Reduced | -1.4m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -836.3k |
| Point72 Asset Management, L.P. | Reduced | -803.2k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -622.7k |
| Assenagon Asset Management S.A. | Sold out | -540.1k |
| SOROS FUND MANAGEMENT LLC | Sold out | -400.0k |
| MORGAN STANLEY | Reduced | -393.9k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -374.5k |
| BlackRock, Inc. | Reduced | -297.0k |
Biggest calls
| SIMPLEX TRADING, LLC | Added | $1.2m53.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $468.6k20.8k shares |
| CITADEL ADVISORS LLC | Added | $466.4k20.7k shares |
| JANE STREET GROUP, LLC | Reduced | $437.1k19.4k shares |
| Walleye Trading LLC | Reduced | $319.9k14.2k shares |
| GROUP ONE TRADING LLC | Reduced | $58.6k2.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Walleye Trading LLC | Reduced | $405.5k18.0k shares |
| CITADEL ADVISORS LLC | Reduced | $110.4k4.9k shares |
| GROUP ONE TRADING LLC | New | $22.5k1.0k shares |
| SIMPLEX TRADING, LLC | Unchanged | $18.0k800 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-10-27 | 11.2% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-28 | 6.6% |
| Lozier Dianne S. 13G · passive investor new · filed 2026-04-06 | 6.3% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution filed 2025-04-15 | 6.0% |
| STATE STREET CORP 13G · institution new · filed 2025-08-11 | 5.1% |
Kotouc Wende L
13D · may seek influence
new · filed 2026-04-06
Stated purposeThe Reporting Persons acquired the shares of Common Stock reported herein for investment purposes. In connection with the completion of the Merger, Wende L. Kotouc was appointed as a director of the Issuer. The Reporting Persons retain the right to change their investment intent, from time to time, to acquire additional shares of Common Stock or other securities of the Issuer, or to sell or otherwise dispose of all or part of the Common Stock or other securities of the Issuer, if any, beneficially owned by them, in each case in any manner permitted by law and the Shareholders' Agreement (defined below). Except as described above, none of the Reporting Persons currently has any other plans or proposals that would be related to or would result in any of the matters described in Items 4(a)-(j… Full filing |
5.1% |
Fell to 5% or below in the last year: VANGUARD CAPITAL MANAGEMENT LLC (4.8%, 2026-07-31; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), FMR LLC (1.2%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 2 | $148.0k | 0 | — | — |
| Q3 2023 | 0 | — | 1 | $500.4k | — |
| Q4 2023 | 0 | — | 3 | $915.2k | — |
| Q1 2024 | 0 | — | 4 | $572.0k | — |
| Q2 2024 | 0 | — | 2 | $162.1k | — |
| Q3 2024 | 0 | — | 5 | $2.2m | — |
| Q4 2024 | 0 | — | 8 | $8.0m | — |
| Q1 2025 | 0 | — | 2 | $244.0k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-03 | KAMERICK EILEEN A Director | Sold | $173.0k7.0k shares |
| 2025-02-14 | WILLIAMS JOHN B Director | Sold | $71.0k2.8k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 21.2m $476.7m | Reduced -297.0k |
| VANGUARD GROUP INC 0.01% of their portfolio | 17.9m $403.8m | Reduced -146.2k |
| FMR LLC 0.02% of their portfolio | 14.9m $336.7m | Added +106.7k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 10.0m $224.2m | Reduced -374.5k |
| STATE STREET CORP 0.01% of their portfolio | 9.3m $208.9m | Reduced -212.4k |
| MACQUARIE GROUP LTD 0.12% of their portfolio | 4.4m $98.5m | Added +1.5m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.1m $92.0m | Added +234.2k |
| LSV ASSET MANAGEMENT 0.22% of their portfolio | 4.1m $91.5m | Reduced -113.7k |
| FIRST TRUST ADVISORS LP 0.06% of their portfolio | 2.9m $66.1m | Added +938.2k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 2.7m $61.9m | Added +1.6m |
| Associated Banc-Corp 1.73% of their portfolio | 2.5m $56.9m | Reduced -5.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.3m $52.3m | Added +72.7k |
| Verition Fund Management LLC 0.28% of their portfolio | 2.2m $49.2m | Reduced -1.4m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.2m $48.7m | Reduced -22.2k |
| Allspring Global Investments Holdings, LLC 0.08% of their portfolio | 2.0m $44.2m | Reduced -19.6k |
| AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 1.9m $42.9m | Added +1.3m |
| NORGES BANK 0.01% of their portfolio | 1.9m $42.3m | Added +364.9k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 1.8m $41.5m | Added +206.3k |
| PZENA INVESTMENT MANAGEMENT LLC 0.14% of their portfolio | 1.8m $40.3m | Reduced -10.9k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.7m $39.2m | Reduced -21.8k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 1.5m $34.6m | Reduced -622.7k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 1.5m $34.1m | Added +83.0k |
| Invesco Ltd. 0.01% of their portfolio | 1.3m $29.5m | Added +594.4k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.10% of their portfolio | 1.3m $29.2m | Reduced -176.7k |
| MORGAN STANLEY 0.00% of their portfolio | 1.2m $26.1m | Reduced -393.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.1m $23.9m | Added +220.6k |
| Nuveen, LLC 0.01% of their portfolio | 1.0m $23.5m | First filing |
| Rhino Investment Partners, Inc 5.70% of their portfolio | 1.0m $23.1m | Added +155.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 832.3k $18.8m | Reduced -256.5k |
| HEARTLAND ADVISORS INC 1.00% of their portfolio | 769.5k $17.3m | Added +369.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 739.5k $16.7m | Reduced -836.3k |
| UBS Group AG 0.00% of their portfolio | 567.5k $12.8m | Added +103.6k |
| Leeward Investments, LLC - MA 0.66% of their portfolio | 548.0k $12.3m | New |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 539.6k $12.2m | Reduced -128 |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 521.7k $11.8m | Reduced -31.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 496.4k $11.2m | Added +60.8k |
| Interval Partners, LP 0.39% of their portfolio | 490.6k $11.1m | Reduced -149.3k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 483.7k $10.9m | Reduced -90.8k |
| M&G PLC 0.05% of their portfolio | 423.9k $9.7m | Added +25.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 419.7k $9.5m | Reduced -119.1k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 411.3k $9.3m | Reduced -16.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 380.0k $8.6m | Added +10.4k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.02% of their portfolio | 363.7k $8.2m | Added +36.1k |
| Fisher Asset Management, LLC 0.00% of their portfolio | 357.0k $8.0m | Reduced -152.0k |
| ProShare Advisors LLC 0.02% of their portfolio | 355.2k $8.0m | Added +6.5k |
| MAIRS & POWER INC 0.08% of their portfolio | 333.7k $7.5m | Reduced -32.9k |
| BARCLAYS PLC 0.00% of their portfolio | 331.5k $7.5m | Reduced -127.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 322.3k $7.3m | Added +210.9k |
| Swiss National Bank 0.01% of their portfolio | 319.7k $7.2m | Added +23.0k |
| CITIGROUP INC 0.01% of their portfolio | 313.2k $7.1m | Reduced -25.9k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 287.9k $6.5m | Added +136.6k |
| Brandywine Global Investment Management, LLC 0.05% of their portfolio | 278.7k $6.3m | Reduced -11.1k |
| HANCOCK WHITNEY CORP 0.20% of their portfolio | 274.7k $6.2m | Added +216.7k |
| Legacy Private Trust Co. 0.42% of their portfolio | 272.1k $6.1m | Unchanged |
| Legal & General Group Plc 0.00% of their portfolio | 271.8k $6.1m | Added +21.7k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 262.1k $5.9m | Added +73.1k |
| Corebridge Financial, Inc. 0.03% of their portfolio | 260.3k $5.9m | Reduced -1.1k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 251.5k $5.7m | Reduced -27.2k |
| Rafferty Asset Management, LLC 0.02% of their portfolio | 250.7k $5.6m | Reduced -21.8k |
| South Dakota Investment Council 0.10% of their portfolio | 206.7k $4.7m | Added +2.7k |
| Retirement Systems of Alabama 0.02% of their portfolio | 199.5k $4.5m | Added +3.9k |
| CASTLEARK MANAGEMENT LLC 0.16% of their portfolio | 198.5k $4.5m | Added +38.8k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 192.2k $4.3m | Reduced -4.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 186.3k $4.2m | Added +12.6k |
| MetLife Investment Management, LLC 0.02% of their portfolio | 184.7k $4.2m | Reduced -1.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 181.7k $4.1m | Reduced -91.3k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.09% of their portfolio | 155.5k $3.5m | Reduced -126.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 154.5k $3.5m | Added +12.7k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 154.0k $3.5m | Reduced -1.4m |
| NFJ INVESTMENT GROUP, LLC 0.11% of their portfolio | 148.7k $3.3m | Unchanged |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 126.5k $2.9m | Reduced -5.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 125.1k $2.8m | Added +12.6k |
| HENNESSY ADVISORS INC 0.09% of their portfolio | 125.0k $2.8m | Reduced -30.0k |
| Edgestream Partners, L.P. 0.09% of their portfolio | 120.9k $2.7m | Reduced -179.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 120.3k $2.7m | New |
| Trexquant Investment LP 0.03% of their portfolio | 119.1k $2.7m | Reduced -71.8k |
| Creative Planning 0.00% of their portfolio | 115.5k $2.6m | Added +48.7k |
| Crescent Grove Advisors, LLC 0.27% of their portfolio | 115.4k $2.6m | Added +13.8k |
| Squarepoint Ops LLC 0.01% of their portfolio | 114.6k $2.6m | Reduced -2.1k |
| INTECH INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 111.7k $2.5m | Added +32.7k |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 0.20% of their portfolio | 111.2k $2.5m | Reduced -550 |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 110.7k $2.5m | Reduced -105.3k |
| NORTH STAR ASSET MANAGEMENT INC 0.11% of their portfolio | 110.7k $2.5m | Reduced -1.1k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 107.6k $2.4m | Added +8.1k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 105.6k $2.4m | Added +7.4k |
| HARBOR CAPITAL ADVISORS, INC. 0.11% of their portfolio | 102.4k $2.3m | Added +26.1k |
| Palisade Asset Management, LLC 0.24% of their portfolio | 102.1k $2.3m | Unchanged |
| NICOLET ADVISORY SERVICES, LLC 0.19% of their portfolio | 98.3k $1.9m | Reduced -66 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 97.6k $2.2m | Added +5.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 97.3k $2.2m | Reduced -10.1k |
| Man Group plc 0.01% of their portfolio | 96.3k $2.2m | New |
| Engineers Gate Manager LP 0.04% of their portfolio | 92.7k $2.1m | Added +78.6k |
| RIA Advisory Group LLC 0.66% of their portfolio | 89.8k $2.0m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 86.1k $1.9m | Reduced -29.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 84.8k $1.9m | Added +36.5k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 84.4k $1.9m | Reduced -629 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 83.3k $1.9m | Reduced -8.5k |
| Moody Aldrich Partners LLC 0.39% of their portfolio | 81.8k $1.8m | New |
| US BANCORP \DE\ 0.00% of their portfolio | 79.8k $1.8m | Reduced -482 |
| SEI INVESTMENTS CO 0.00% of their portfolio | 79.6k $1.8m | Reduced -10.1k |