AB
Associated Banc-corp — 13F Portfolio Report & Top Holdings (Q2 2026)
Associated Banc-corpCIK: 0000007789
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$4.2B
Reporting period: 2026-06-30 · Number of holdings: 381
ASSOCIATED BANC-CORP disclosed 381 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $4.2B and a quarterly turnover rate of 17.6%.
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Personality snowflake
- Concentration
- 7.43
- Portfolio Stability
- 17.63
- Momentum
- 100
- Sector conviction
- 47.61
- Diversification
- 100
- Sizing Uniformity
- 75.32
Associated Banc-corp's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 54 equally-sized positions, well below its 381 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.47), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd LRCX
-8.7% $109.0M
Trim XOM
-1.0% -$18.4M
Add SYY
+133.3% $21.5M
Trim MSFT
-1.3% -$814.4K
Add GOOGL
-2.6% $39.5M
Sold out HON
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 381 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LRCX | Lam Research CORP | Stock-Tech | 5.63% | +2.24% | -8.70% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.40% | +0.43% | -2.61% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 4.62% | +0.11% | -0.54% | |
| 4 | AAPL | Apple Inc | Stock-Tech | 3.86% | +0.02% | -1.65% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 3.81% | -0.46% | -1.27% | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.29% | +0.06% | -0.59% | |
| 7 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.96% | -0.04% | -1.37% | |
| 8 | PM | Philip Morris International | Stock-Consumer Staples | 2.21% | -0.32% | -11.08% | |
| 9 | VO | Vanguard Mid-cap ETF | ETF-Other | 1.99% | +0.06% | +310.24% | |
| 10 | ASB | Associated Banc-corp | Stock-Financials | 1.81% | +0.04% | -4.23% | |
| 11 | XOM | Exxon Mobil CORP | Stock-Energy | 1.72% | -0.69% | -0.99% | |
| 12 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.70% | +0.26% | +0.95% | |
| 13 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.26% | +0.06% | +1.96% | |
| 14 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.24% | -0.08% | -0.13% | |
| 15 | ODFL | Old Dominion Freight Line | Stock-Industrials | 1.13% | +0.04% | +4.08% | |
| 16 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 1.12% | -0.01% | -2.98% | |
| 17 | SCHW | Schwab (charles) CORP | Stock-Financials | 1.11% | -0.15% | +0.12% | |
| 18 | UBER | Uber Technologies Inc | Stock-Industrials | 1.10% | -0.10% | +1.59% | |
| 19 | NOW | Servicenow Inc | Stock-Tech | 1.05% | -0.17% | +0.79% | |
| 20 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.05% | +0.02% | -1.43% | |
| 21 | COF | Capital One Financial CORP | Stock-Financials | 1.03% | -0.03% | -1.37% | |
| 22 | VB | Vanguard Small-cap ETF | ETF-Other | 0.98% | +0.06% | +2.38% | |
| 23 | CAT | Caterpillar Inc | Stock-Industrials | 0.98% | +0.23% | -3.09% | |
| 24 | IQV | Iqvia Holdings Inc | Stock-Healthcare | 0.92% | +0.10% | +10.82% | |
| 25 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.91% | -0.02% | +5.69% | |
| 26 | CSCO | Cisco Systems Inc | Stock-Tech | 0.87% | +0.22% | -2.18% | |
| 27 | CRM | Salesforce Inc | Stock-Tech | 0.86% | -0.30% | -1.30% | |
| 28 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.85% | -0.14% | -1.85% | |
| 29 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 0.82% | -0.15% | +0.45% | |
| 30 | SYY | Sysco CORP | Stock-Consumer Staples | 0.81% | +0.48% | +133.33% | |
| 31 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.80% | +0.03% | +5.04% | |
| 32 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.80% | +0.07% | -0.87% | |
| 33 | CMI | Cummins Inc | Stock-Industrials | 0.79% | +0.11% | -2.24% | |
| 34 | ETN | Eaton Corporation plc | Stock-Industrials | 0.77% | +0.03% | -2.57% | |
| 35 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 0.76% | -0.02% | +8.50% | |
| 36 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.75% | -0.08% | -1.29% | |
| 37 | XLK | Ss Technology Select Sector | ETF-Tech | 0.74% | +0.16% | -0.71% | |
| 38 | RTX | Rtx CORP | Stock-Industrials | 0.73% | -0.16% | -7.59% | |
| 39 | NFLX | Netflix Inc | Stock-Comm Services | 0.71% | -0.30% | +5.35% | |
| 40 | MA | Mastercard Inc - A | Stock-Financials | 0.69% | -0.05% | +0.82% | |
| 41 | VOT | Vanguard Mid-cap Growth ETF | ETF-Other | 0.67% | +0.04% | -1.20% | |
| 42 | VUG | Vanguard Growth ETF | ETF-Other | 0.66% | +0.06% | +521.12% | |
| 43 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.65% | -0.02% | +1.05% | |
| 44 | BLK | Blackrock Inc | Stock-Financials | 0.65% | -0.09% | -2.09% | |
| 45 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.65% | -0.14% | +5.23% | |
| 46 | APD | Air Products & Chemicals Inc | Stock-Materials | 0.64% | -0.08% | -1.31% | |
| 47 | CVX | Chevron CORP | Stock-Energy | 0.63% | -0.24% | +0.78% | |
| 48 | WWD | Woodward Inc | Stock-Industrials | 0.62% | +0.04% | — | |
| 49 | UNP | Union Pacific CORP | Stock-Industrials | 0.61% | +0.01% | +0.74% | |
| 50 | ALL | Allstate CORP | Stock-Financials | 0.60% | +0.01% | -1.15% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+5.1%
Performance Last 4 Quarters
+22%
- Stdev
- +11%
- Beta
- +0.81
- Alpha
- +1.7%
- Max Drawdown
- -7.1%
- Annualized Perf
- +18.7%
- Batting Avg vs S&P
- +50%
- Sortino
- +3.16
- Stutzer
- +0.47
- Treynor
- +0.22
- Sterling
- +1.22
- Calmar
- +2.62
- Information Ratio
- -0.51
- Tracking Error
- +4.3%
- Stdev Down
- +5.6%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +30.6%
- Worst 12 Months
- +7.5%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.63
- Stdev Sectors
- +7.8%
- Skewness
- -0.29
- Kurtosis
- -0.19
- Upside Potential
- +4.68
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 381 | $4.2B | 18 | ||
| 2026 Q1 | 332 | $3.8B | 14 | ||
| 2025 Q4 | 333 | $3.9B | 12 | ||
| 2025 Q3 | 340 | $3.8B | 25 | ||
| 2025 Q2 | 321 | $3.5B | 0 | ||
| 2025 Q1 | 320 | $3.3B | 100 | ||
| 2024 Q4 | 317 | $3.3B | 0 | ||
| 2024 Q3 | 328 | $3.4B | 0 | ||
| 2024 Q2 | 315 | $3.2B | 0 | ||
| 2024 Q1 | 314 | $3.2B | 0 | ||
| 2023 Q4 | 309 | $2.9B | 0 | ||
| 2023 Q3 | 303 | $2.6B | 0 | ||
| 2023 Q2 | 308 | $2.6B | 0 | ||
| 2023 Q1 | 310 | $2.5B | 0 | ||
| 2022 Q4 | 474 | $2.4B | 0 | ||
| 2022 Q3 | 466 | $2.2B | 0 | ||
| 2022 Q2 | 472 | $2.3B | 0 | ||
| 2022 Q1 | 494 | $2.6B | 0 | ||
| 2021 Q4 | 500 | $2.7B | 0 | ||
| 2021 Q3 | 500 | $2.5B | 0 | ||
| 2021 Q2 | 501 | $2.5B | 100 | ||
| 2021 Q1 | 465 | $1.6B | 52 | ||
| 2020 Q4 | 1355 | $2.6B | 13 | ||
| 2020 Q3 | 1340 | $2.3B | 13 | ||
| 2020 Q2 | 1283 | $2.2B | 22 | ||
| 2020 Q1 | 1272 | $1.9B | 28 | ||
| 2019 Q4 | 495 | $2.0B | 14 | ||
| 2019 Q3 | 480 | $1.9B | 12 | ||
| 2019 Q2 | 454 | $1.8B | 11 | ||
| 2019 Q1 | 438 | $1.7B | 17 | ||
| 2018 Q4 | 437 | $1.5B | 22 | ||
| 2018 Q3 | 449 | $1.8B | 12 | ||
| 2018 Q2 | 451 | $1.7B | 15 | ||
| 2018 Q1 | 450 | $1.8B | 12 | ||
| 2017 Q4 | 457 | $1.9B | 10 | ||
| 2017 Q3 | 455 | $1.8B | 10 | ||
| 2017 Q2 | 456 | $1.8B | 11 | ||
| 2017 Q1 | 458 | $1.7B | 10 | ||
| 2016 Q4 | 460 | $1.6B | 11 | ||
| 2016 Q3 | 457 | $1.6B | 10 | ||
| 2016 Q2 | 467 | $1.6B | 9 | ||
| 2016 Q1 | 466 | $1.5B | 11 | ||
| 2015 Q4 | 471 | $1.5B | 15 | ||
| 2015 Q3 | 473 | $1.4B | 13 | ||
| 2015 Q2 | 482 | $1.6B | 11 | ||
| 2015 Q1 | 478 | $1.6B | 10 | ||
| 2014 Q4 | 465 | $1.6B | 14 | ||
| 2014 Q3 | 457 | $1.5B | 11 | ||
| 2014 Q2 | 470 | $1.5B | 10 | ||
| 2014 Q1 | 467 | $1.5B | 14 | ||
| 2013 Q4 | 446 | $1.4B | 14 | ||
| 2013 Q3 | 442 | $1.3B | 12 | ||
| 2013 Q2 | 424 | $1.2B | — |
Holding changes this quarter
Associated Banc-corp's most significant position changes for 2026-06-30: Sold out: Honeywell International Inc (HON); New buy: Airbnb Inc-class A (ABNB); New buy: ; New buy: ; New buy: Vanguard S/t CORP Bond ETF (VCSH).
Showing top 200 changes by size (of 394 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LRCX | Lam Research CORP | +2.2% | -8.70% | Trim |
| 2 | SYY | Sysco CORP | +0.5% | +133.33% | Add |
| 3 | GOOGL | Alphabet Inc-cl A | +0.4% | -2.61% | Trim |
| 4 | LLY | Eli Lilly & Co | +0.3% | +0.95% | Add |
| 5 | CAT | Caterpillar Inc | +0.2% | -3.09% | Trim |
| 6 | ABNB | Airbnb Inc-class A | +0.2% | NEW | New buy |
| 7 | CSCO | Cisco Systems Inc | +0.2% | -2.18% | Trim |
| 8 | ✓ | +0.2% | NEW | New buy | |
| 9 | ✓ | +0.2% | NEW | New buy | |
| 10 | XLK | Ss Technology Select Sector | +0.2% | -0.71% | Trim |
| 11 | INTC | Intel CORP | +0.1% | -3.51% | Trim |
| 12 | UNH | Unitedhealth Group Inc | +0.1% | -1.70% | Trim |
| 13 | NVDA | Nvidia CORP | +0.1% | -0.54% | Trim |
| 14 | CMI | Cummins Inc | +0.1% | -2.24% | Trim |
| 15 | IQV | Iqvia Holdings Inc | +0.1% | +10.82% | Add |
| 16 | VTV | Vanguard Value ETF | +0.1% | +18.86% | Add |
| 17 | TXN | Texas Instruments Inc | +0.1% | +0.90% | Add |
| 18 | GOOG | Alphabet Inc-cl C | +0.1% | -0.87% | Trim |
| 19 | AMZN | Amazon.com Inc | +0.1% | -0.59% | Trim |
| 20 | VO | Vanguard Mid-cap ETF | +0.1% | +310.24% | Add |
| 21 | VOO | Vanguard S&p 500 ETF | +0.1% | +1.96% | Add |
| 22 | VB | Vanguard Small-cap ETF | +0.1% | +2.38% | Add |
| 23 | VUG | Vanguard Growth ETF | +0.1% | +521.12% | Add |
| 24 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | +1.65% | Add |
| 25 | IVW | Ishares S&p 500 Growth ETF | +0.1% | +12.39% | Add |
| 26 | ASB | Associated Banc-corp | 0% | -4.23% | Trim |
| 27 | ODFL | Old Dominion Freight Line | 0% | +4.08% | Add |
| 28 | VOT | Vanguard Mid-cap Growth ETF | 0% | -1.20% | Trim |
| 29 | WWD | Woodward Inc | 0% | — | Unchanged |
| 30 | TGT | Target CORP | 0% | +269.11% | Add |
| 31 | VCSH | Vanguard S/t CORP Bond ETF | 0% | NEW | New buy |
| 32 | VEU | Vanguard Ftse All-world Ex-u | 0% | +5.04% | Add |
| 33 | ETN | Eaton Corporation plc | 0% | -2.57% | Trim |
| 34 | IEMG | Ishares Core Msci Emerging | 0% | +0.61% | Add |
| 35 | VTI | Vanguard Total Stock Mkt ETF | 0% | +3.35% | Add |
| 36 | VBK | Vanguard Small-cap Grwth ETF | 0% | +5.18% | Add |
| 37 | ADI | Analog Devices Inc | 0% | +2.91% | Add |
| 38 | VGT | Vanguard Info Tech ETF | 0% | +692.58% | Add |
| 39 | SCHE | Schwab Emrg Mrkts Eqty ETF | 0% | NEW | New buy |
| 40 | AAPL | Apple Inc | 0% | -1.65% | Trim |
| 41 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -1.43% | Trim |
| 42 | IVV | Ishares Core S&p 500 ETF | 0% | +0.85% | Add |
| 43 | BAC | Bank Of America CORP | 0% | -0.78% | Trim |
| 44 | IWM | Ishares Russell 2000 ETF | 0% | -1.31% | Trim |
| 45 | CVS | Cvs Health CORP | 0% | +0.83% | Add |
| 46 | MCHP | Microchip Technology Inc | 0% | +1.14% | Add |
| 47 | VXF | Vanguard Extended Market ETF | 0% | +24.74% | Add |
| 48 | AMAT | Applied Materials Inc | 0% | +19.46% | Add |
| 49 | IJT | Ishares S&p Small-cap 600 Gr | 0% | +5.67% | Add |
| 50 | ASML | ASML Holding N.V. | 0% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is Associated Banc-corp and what type of investor is it?
Associated Banc-corp is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $4.2B, spread across 381 disclosed positions.
What are Associated Banc-corp's largest equity positions?
Based on the latest 13F filing, Associated Banc-corp's top holdings by market value are:
1. Lam Research CORP (LRCX) — $237.0M (5.6%)
2. Alphabet Inc-cl A (GOOGL) — $227.2M (5.4%)
3. Nvidia CORP (NVDA) — $194.6M (4.6%)
4. Apple Inc (AAPL) — $162.5M (3.9%)
5. Microsoft CORP (MSFT) — $160.4M (3.8%)
What changes did Associated Banc-corp make in its most recent portfolio filing?
In the latest reported quarter, Associated Banc-corp made 197 notable position adjustments: 30 new positions were initiated, 85 existing holdings were added to, 78 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Honeywell International Inc (HON); New buy: Airbnb Inc-class A (ABNB); New buy: ; New buy: ; New buy: Vanguard S/t CORP Bond ETF (VCSH)
What sectors does Associated Banc-corp focus on?
Associated Banc-corp is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 29.4%
• Financials: 14.4%
• Industrials: 11.1%
• Communication Services: 11.1%
• Health Care: 10.4%
• Consumer Staples: 9.1%
Investment Profile
Associated Banc-corp returned an annualized 18.7% over the trailing 36 months — outperforming the S&P 500 by 1.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.81 (less volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its turnover score has risen from 0 to 18 over the past 4 quarters — a shift toward more active trading.
It has added to its ODFL position over the past two quarters (+$27.7M, now $47.4M), while trimming MSFT over the same stretch (-$50.6M, still holding $160.4M).
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