Associated Banc-Corp
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Associated Banc-Corp reported 333 stock positions worth $3.9 billion. Its top holding was Alphabet Class A (GOOGL) at 5.5% of the portfolio, followed by Microsoft (MSFT, 5.4%) and Nvidia (NVDA, 4.7%). Compared with Q3 2025, it opened 11 new positions, sold out of 19, added to 116 and reduced 173. The biggest buy was Eli Lilly (LLY, shares +2%) and the biggest sale Fiserv (FISV, shares −60%).
- Most Recent 13F
- Q2 2026
- Location
- Green Bay, WI
- CIK
- 0000007789
- Portfolio Value
- $3.9B (Q4 2025)
- SEC Filing
- 0000007789-26-000044 ↗ filed Feb 6, 2026
Holdings Value
Holdings 333 stocks · $3.9B
| GOOGL Alphabet Inc. Class A | 5.51% | 687,596 | $215.2M | Reduce -1.5% |
| MSFT Microsoft Corp. | 5.40% | 436,244 | $211.0M | Reduce -0.6% |
| NVDA Nvidia Corp. | 4.67% | 977,591 | $182.3M | Reduce -0.1% |
| AAPL Apple Inc. | 4.04% | 580,600 | $157.8M | Reduce -2.2% |
| AMZN Amazon.com Inc. | 3.44% | 581,327 | $134.2M | Add +4.2% |
| LRCX Lam Research Corp. | 3.40% | 774,930 | $132.7M | Reduce -7.3% |
| JPM JPMorgan Chase & Co. | 3.25% | 393,395 | $126.8M | Reduce -0.4% |
| PM Philip Morris International | 2.34% | 570,173 | $91.5M | Add +1.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.74% | 234,703 | $68.1M | Add +26.9% |
| ASB Associated Banc-Corp. | 1.74% | 2,631,339 | $67.8M | Add +7.5% |
| RTX RTX Corp. | 1.69% | 359,025 | $65.8M | Add +1.6% |
| XOM Exxon Mobil Corp. | 1.66% | 539,635 | $64.9M | Add +0.9% |
| LLY Eli Lilly & Co. | 1.60% | 58,036 | $62.4M | Add +2.5% |
| NOW ServiceNow Inc. | 1.57% | 399,210 | $61.2M | Add +2.0% |
| COF Capital One Financial Corp. | 1.45% | 234,478 | $56.8M | Reduce -1.0% |
| CRM Salesforce Inc. | 1.44% | 212,311 | $56.2M | Add +18.2% |
| SCHW Schwab (charles) Corp. | 1.29% | 504,122 | $50.4M | Add +3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.24% | 96,162 | $48.3M | Add +7.4% |
| UBER Uber Technologies Inc. | 1.19% | 570,226 | $46.6M | Add +10.7% |
| VOO Vanguard S&P 500 ETF | 1.19% | 74,231 | $46.6M | Reduce -2.1% |
| META Meta Platforms Inc. Class A | 1.18% | 70,054 | $46.2M | Reduce -4.7% |
| KMB Kimberly-Clark Corp. | 1.15% | 445,707 | $45.0M | Reduce -2.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.05% | 60,199 | $41.1M | Reduce -0.9% |
| IQV Iqvia Holdings Inc. | 1.02% | 176,163 | $39.7M | Add +3.0% |
| LOW Lowe's Cos Inc. | 0.95% | 154,403 | $37.2M | Add +1.9% |
| BSX Boston Scientific Corp. | 0.91% | 373,832 | $35.6M | Add +0.4% |
| CI The Cigna Group | 0.84% | 119,296 | $32.8M | Add +0.0% |
| MA Mastercard Inc. Class A | 0.82% | 56,316 | $32.1M | Add +0.4% |
| PG The Procter & Gamble Co. | 0.82% | 223,550 | $32.0M | Reduce -3.4% |
| GOOG Alphabet Inc. Class C | 0.80% | 99,165 | $31.1M | Reduce -3.1% |
| BLK BlackRock Inc. | 0.79% | 28,885 | $30.9M | Reduce -0.1% |
| MDLZ Mondelez International Inc. Class A | 0.78% | 568,135 | $30.6M | Reduce -3.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.78% | 118,078 | $30.5M | Add +11.9% |
| JNJ Johnson & Johnson | 0.78% | 146,492 | $30.3M | Reduce -1.8% |
| MCD McDonald's Corp. | 0.77% | 98,244 | $30.0M | Reduce -1.4% |
| BSV Vanguard Short-Term Bond ETF | 0.69% | 340,916 | $26.9M | Reduce -2.7% |
| ETN Eaton Corp. PLC | 0.66% | 81,435 | $25.9M | Reduce -2.9% |
| TMO Thermo Fisher Scientific Inc. | 0.64% | 43,471 | $25.2M | Add +0.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.64% | 50,946 | $24.9M | Reduce -2.7% |
| CMI Cummins Inc. | 0.63% | 48,155 | $24.6M | Reduce -2.9% |
| CSCO Cisco Systems Inc. | 0.62% | 315,942 | $24.3M | Add +1.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.62% | 329,094 | $24.2M | Add +12.8% |
| CVX Chevron Corp. | 0.62% | 158,736 | $24.2M | Reduce -3.2% |
| XLK SS Technology Select Sector | 0.62% | 167,721 | $24.1M | Reduce -0.1% |
| CAT Caterpillar Inc. | 0.60% | 41,160 | $23.6M | Reduce -1.9% |
| IEFA iShares Core MSCI Eafe ETF | 0.60% | 263,556 | $23.6M | Add +7.2% |
| APD Air Products & Chemicals Inc. | 0.60% | 94,521 | $23.3M | Reduce -1.3% |
| NOC Northrop Grumman Corp. | 0.58% | 39,990 | $22.8M | Add +0.9% |
| AMP Ameriprise Financial Inc. | 0.58% | 46,369 | $22.7M | Reduce -0.0% |
| ALL Allstate Corp. | 0.58% | 107,964 | $22.5M | Reduce -1.0% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.57% | 80,175 | $22.4M | Add +109.4% |
| VIG Vanguard Dividend Apprec ETF | 0.55% | 97,982 | $21.5M | Add +1.2% |
| UNP Union Pacific Corp. | 0.53% | 89,738 | $20.8M | Add +5.9% |
| XEL Xcel Energy Inc. | 0.53% | 280,741 | $20.7M | Reduce -1.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.51% | 364,438 | $20.0M | Add +0.7% |
| PEP Pepsico Inc. | 0.51% | 138,500 | $19.9M | Reduce -1.7% |
| ODFL Old Dominion Freight Line | 0.50% | 125,788 | $19.7M | Add +141.1% |
| KO The Coca-Cola Co. | 0.48% | 268,282 | $18.8M | Reduce -1.3% |
| IVV iShares Core S&P 500 ETF | 0.48% | 27,182 | $18.6M | Add +8.2% |
| WWD Woodward Inc. | 0.47% | 61,379 | $18.6M | Reduce -0.7% |
| MDT Medtronic PLC | 0.45% | 182,964 | $17.6M | Reduce -1.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.43% | 88,951 | $17.0M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 0.43% | 50,676 | $16.7M | Reduce -0.3% |
| IEMG iShares Core MSCI Emerging | 0.42% | 244,123 | $16.4M | Add +3.8% |
| EFV iShares MSCI Eafe Value ETF | 0.41% | 222,026 | $15.9M | Add +1.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.40% | 46,273 | $15.5M | Reduce -16.7% |
| NEE Nextera Energy Inc. | 0.39% | 190,085 | $15.3M | Add +0.8% |
| SDY SS SPDR S&P Dividend ETF | 0.39% | 108,878 | $15.2M | Add +1.9% |
| ABT Abbott Laboratories | 0.39% | 120,607 | $15.1M | Reduce -6.4% |
| IVE iShares S&P 500 Value ETF | 0.36% | 67,226 | $14.3M | Reduce -6.2% |
| BIV Vanguard Intermediate-Term B | 0.36% | 182,035 | $14.2M | Reduce -0.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.36% | 23,010 | $14.1M | Add +22.6% |
| IWF iShares Russell 1000 Growth | 0.36% | 29,373 | $13.9M | Add +26.5% |
| DHR Danaher Corp. | 0.35% | 60,231 | $13.8M | Reduce -3.1% |
| BND Vanguard Total Bond Market | 0.35% | 184,844 | $13.7M | Add +1.1% |
| WM Waste Management Inc. | 0.34% | 61,026 | $13.4M | Reduce -0.7% |
| VWO Vanguard Ftse Emerging Marke | 0.34% | 247,223 | $13.3M | Add +10.8% |
| GDX Vaneck Gold Miners ETF | 0.34% | 152,991 | $13.1M | Reduce -5.4% |
| PAYC Paycom Software Inc. | 0.34% | 82,227 | $13.1M | Add +2.8% |
| GLD SPDR Gold Shares | 0.33% | 32,661 | $12.9M | Add +19.8% |
| SYY Sysco Corp. | 0.33% | 172,561 | $12.7M | Reduce -0.1% |
| PSX Phillips 66 | 0.32% | 96,842 | $12.5M | Reduce -0.6% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.31% | 69,230 | $12.3M | Add +27.0% |
| WMT Walmart Inc. | 0.30% | 105,531 | $11.8M | Reduce -1.9% |
| VEA Vanguard Ftse Developed ETF | 0.29% | 184,397 | $11.5M | Add +7.8% |
| CMCSA Comcast Corp. Class A | 0.28% | 366,216 | $10.9M | Reduce -2.2% |
| IVW iShares S&P 500 Growth ETF | 0.28% | 88,264 | $10.9M | Reduce -8.5% |
| MRK Merck & Co. Inc. | 0.27% | 101,341 | $10.7M | Add +3.6% |
| FISV Fiserv Inc. | 0.27% | 156,340 | $10.5M | Reduce -60.0% |
| VYM Vanguard High DVD Yield ETF | 0.27% | 72,355 | $10.4M | Reduce -8.4% |
| NFLX Netflix Inc. | 0.24% | 101,542 | $9.5M | Add +36.1% |
| IJH iShares Core S&P Midcap ETF | 0.24% | 143,136 | $9.4M | Reduce -5.3% |
| ABBV Abbvie Inc. | 0.24% | 40,775 | $9.3M | Reduce -6.8% |
| IWM iShares Russell 2000 ETF | 0.23% | 36,971 | $9.1M | Add +37.8% |
| ZTS Zoetis Inc. | 0.22% | 69,117 | $8.7M | Add +48.2% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.22% | 87,365 | $8.5M | Reduce -0.1% |
| HD Home Depot Inc. | 0.21% | 24,019 | $8.3M | Reduce -2.2% |
| SYK Stryker Corp. | 0.21% | 23,496 | $8.3M | Reduce -0.2% |
| SO The Southern Co. | 0.21% | 92,947 | $8.1M | Reduce -2.9% |
| USB US Bancorp | 0.21% | 150,974 | $8.1M | Reduce -0.4% |
Portfolio Sells Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Reduce -60.0% | 0.27% | −1.06 |
| MSFT Microsoft Corp. | Reduce -0.6% | 5.40% | −0.58 |
| KMB Kimberly-Clark Corp. | Reduce -2.2% | 1.15% | −0.34 |
| META Meta Platforms Inc. Class A | Reduce -4.7% | 1.18% | −0.24 |
| MDLZ Mondelez International Inc. Class A | Reduce -3.0% | 0.78% | −0.18 |
| ETN Eaton Corp. PLC | Reduce -2.9% | 0.66% | −0.16 |
| NVDA Nvidia Corp. | Reduce -0.1% | 4.67% | −0.14 |
| PG The Procter & Gamble Co. | Reduce -3.4% | 0.82% | −0.12 |
| BLK BlackRock Inc. | Reduce -0.1% | 0.79% | −0.10 |
| APD Air Products & Chemicals Inc. | Reduce -1.3% | 0.60% | −0.09 |
| VNQ Vanguard Real Estate ETF | Reduce -36.1% | 0.13% | −0.08 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -16.7% | 0.40% | −0.08 |
| IBDQ iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.08 |
| XEL Xcel Energy Inc. | Reduce -1.5% | 0.53% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -42.5% | 0.07% | −0.07 |
| ABT Abbott Laboratories | Reduce -6.4% | 0.39% | −0.07 |
| CVX Chevron Corp. | Reduce -3.2% | 0.62% | −0.05 |
| HD Home Depot Inc. | Reduce -2.2% | 0.21% | −0.05 |
| SYY Sysco Corp. | Reduce -0.1% | 0.33% | −0.05 |
| IBTF iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.05 |
| DOC Healthpeak Properties Inc. | Reduce -69.4% | 0.01% | −0.04 |
| WEC WEC Energy Group Inc. | Reduce -30.4% | 0.07% | −0.04 |
| ALL Allstate Corp. | Reduce -1.0% | 0.58% | −0.04 |
| BSV Vanguard Short-Term Bond ETF | Reduce -2.7% | 0.69% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -0.4% | 3.25% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -0.3% | 0.43% | −0.03 |
| SO The Southern Co. | Reduce -2.9% | 0.21% | −0.03 |
| VOO Vanguard S&P 500 ETF | Reduce -2.1% | 1.19% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -2.2% | 0.28% | −0.03 |
| PSX Phillips 66 | Reduce -0.6% | 0.32% | −0.03 |
| MCD McDonald's Corp. | Reduce -1.4% | 0.77% | −0.03 |
| ABBV Abbvie Inc. | Reduce -6.8% | 0.24% | −0.03 |
| IVW iShares S&P 500 Growth ETF | Reduce -8.5% | 0.28% | −0.03 |
| VYM Vanguard High DVD Yield ETF | Reduce -8.4% | 0.27% | −0.03 |
| BMO Bank of Montreal | Reduce -44.8% | 0.03% | −0.03 |
| IBB iShares Biotechnology ETF | Reduce -28.4% | 0.11% | −0.03 |
| IVE iShares S&P 500 Value ETF | Reduce -6.2% | 0.36% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -2.7% | 0.64% | −0.02 |
| XLY SS Consumer Disc Select Sect | Reduce -17.5% | 0.09% | −0.02 |
| PRU Prudential Financial Inc. | Reduce -21.4% | 0.11% | −0.02 |
| IJJ iShares S&P Mid-Cap 400 Valu | Reduce -11.1% | 0.15% | −0.02 |
| ORCL Oracle Corp. | Reduce -6.7% | 0.03% | −0.02 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.02 |
| T AT&T Inc. | Reduce -19.9% | 0.04% | −0.02 |
| EMR Emerson Electric Co. | Reduce -11.8% | 0.13% | −0.02 |
| HON Honeywell International Inc. | Reduce -1.2% | 0.16% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -8.1% | 0.14% | −0.02 |
| IJH iShares Core S&P Midcap ETF | Reduce -5.3% | 0.24% | −0.02 |
| PH Parker Hannifin Corp. | Reduce -58.9% | 0.02% | −0.02 |
| AMP Ameriprise Financial Inc. | Reduce -0.0% | 0.58% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| LLY Eli Lilly & Co. | Add +2.5% | 1.60% | +0.46 |
| CRM Salesforce Inc. | Add +18.2% | 1.44% | +0.32 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +26.9% | 1.74% | +0.31 |
| ODFL Old Dominion Freight Line | Add +141.1% | 0.50% | +0.31 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +109.4% | 0.57% | +0.28 |
| AMZN Amazon.com Inc. | Add +4.2% | 3.44% | +0.21 |
| IQV Iqvia Holdings Inc. | Add +3.0% | 1.02% | +0.16 |
| RTX RTX Corp. | Add +1.6% | 1.69% | +0.13 |
| TMO Thermo Fisher Scientific Inc. | Add +0.1% | 0.64% | +0.09 |
| ASB Associated Banc-Corp. | Add +7.5% | 1.74% | +0.08 |
| XOM Exxon Mobil Corp. | Add +0.9% | 1.66% | +0.08 |
| GLD SPDR Gold Shares | Add +19.8% | 0.33% | +0.08 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +11.9% | 0.78% | +0.07 |
| VEU Vanguard Ftse All-World Ex-U | Add +12.8% | 0.62% | +0.07 |
| IWF iShares Russell 1000 Growth | Add +26.5% | 0.36% | +0.07 |
| SCHW Schwab (charles) Corp. | Add +3.5% | 1.29% | +0.07 |
| QQQ Invesco QQQ Trust Series 1 | Add +22.6% | 0.36% | +0.07 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +27.0% | 0.31% | +0.06 |
| CSCO Cisco Systems Inc. | Add +1.6% | 0.62% | +0.06 |
| IWM iShares Russell 2000 ETF | Add +37.8% | 0.23% | +0.06 |
| MRK Merck & Co. Inc. | Add +3.6% | 0.27% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +7.4% | 1.24% | +0.05 |
| ZTS Zoetis Inc. | Add +48.2% | 0.22% | +0.04 |
| TEQI T Rowe Price Equity Income E | New | 0.04% | +0.04 |
| IEFA iShares Core MSCI Eafe ETF | Add +7.2% | 0.60% | +0.04 |
| SLV iShares Silver Trust | Add +5.4% | 0.10% | +0.04 |
| IVV iShares Core S&P 500 ETF | Add +8.2% | 0.48% | +0.03 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +21.1% | 0.17% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +7.8% | 0.29% | +0.03 |
| AMGN Amgen Inc. | Add +1.0% | 0.20% | +0.02 |
| VWO Vanguard Ftse Emerging Marke | Add +10.8% | 0.34% | +0.02 |
| BAC Bank of America Corp. | Add +0.7% | 0.51% | +0.02 |
| TCHP T Rowe Price Blue Chip Growt | New | 0.02% | +0.02 |
| VXF Vanguard Extended Market ETF | Add +78.3% | 0.04% | +0.02 |
| NEE Nextera Energy Inc. | Add +0.8% | 0.39% | +0.02 |
| EFV iShares MSCI Eafe Value ETF | Add +1.2% | 0.41% | +0.01 |
| IBM Intl Business Machines Corp. | Add +8.8% | 0.14% | +0.01 |
| IBDZ ISHARESIBONDSDEC2034TMCORP | Add +102.4% | 0.03% | +0.01 |
| MTW Manitowoc Company Inc. | Add +180.7% | 0.02% | +0.01 |
| IEMG iShares Core MSCI Emerging | Add +3.8% | 0.42% | +0.01 |
| IBDY iShares Ibonds Dec 2033 Corp. | Add +46.6% | 0.04% | +0.01 |
| WFC Wells Fargo & Co. | Add +0.4% | 0.13% | +0.01 |
| IBDX iShares Ibonds Dec 2032 TC | Add +32.9% | 0.04% | +0.01 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.01% | +0.01 |
| NFLX Netflix Inc. | Add +36.1% | 0.24% | +0.01 |
| DG Dollar General Corp. | New | 0.01% | +0.01 |
| SPYV SS SPDR P S&P 500 Value ETF | New | 0.01% | +0.01 |
| IBDW iShares Ibonds Dec 2031 Corp. | Add +26.9% | 0.04% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +9.0% | 0.05% | +0.01 |
| XBI SS SPDR S&P Biotech ETF | Add +36.1% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 381 | $4.2B | LRCX, GOOGL, NVDA, AAPL, MSFT |
| Q1 2026 | 332 | $3.8B | GOOGL, NVDA, MSFT, AAPL, LRCX |
| Q4 2025 | 333 | $3.9B | GOOGL, MSFT, NVDA, AAPL, AMZN |
| Q3 2025 | 340 | $3.8B | MSFT, NVDA, GOOGL, AAPL, JPM |
| Q2 2025 | 321 | $3.5B | MSFT, NVDA, GOOGL, AAPL, JPM |
| Q1 2025 | 320 | $3.3B | MSFT, AAPL, GOOGL, NVDA, JPM |
| Q4 2024 | 317 | $3.3B | MSFT, AAPL, GOOGL, NVDA, AMZN |
| Q3 2024 | 328 | $3.4B | MSFT, AAPL, GOOGL, NVDA, AMZN |
| Q2 2024 | 315 | $3.2B | MSFT, AAPL, GOOGL, NVDA, AMZN |
| Q1 2024 | 314 | $3.2B | MSFT, AAPL, GOOGL, NVDA, AMZN |