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Old National Bancorp
Jim Ryan · Bank/Insurer · Multi-Strategy
Old National Bancorp (Nasdaq: ONB) is a prominent financial holding company headquartered in Evansville, Indiana, with a history dating back to 1834. It operates as the parent company of Old National Bank, one of the largest regional banks in the Midwest and a top 25 U.S. banking institution. The firm provides a comprehensive range of financial services, including commercial and consumer banking, mortgage services, and wealth management. Following significant mergers with First Midwest and CapStar Financial, the institution has expanded its footprint across multiple states, focusing on a community-banking model that emphasizes local relationships and ethical standards. Its investment activities, often reflected in its 13F filings, are primarily managed through its wealth management and trust departments, which oversee billions in assets for individual and institutional clients.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +25.1% |
| YTD return | +12.7% |
| Sharpe ratio | 4.21 |
| Win rate | 54% |
| AUM | $1.7B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.7B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.oldnational.com |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| LLY | Eli Lilly and Company | 39.3% | +19.3% |
| AAPL | Apple Inc | 11.0% | +19.1% |
| MSFT | Microsoft Corporation | 9.1% | +7.0% |
| GOOGL | Alphabet Inc Class A | 8.7% | +22.2% |
| AMZN | Amazon.com Inc | 5.6% | +7.9% |
| META | Meta Platforms Inc. | 2.5% | -1.4% |
| V | Visa Inc. Class A | 2.3% | +5.5% |
| ONB | Old National Bancorp | 2.3% | +15.0% |
| JPM | JPMorgan Chase & Co | 2.0% | +9.3% |
| FTNT | Fortinet Inc | 2.0% | +25.1% |
| ABBV | AbbVie Inc | 1.8% | +8.7% |
| CVS | CVS Health Corp | 1.8% | -1.8% |
| WFC | Wells Fargo & Company | 1.6% | +4.2% |
| JNJ | Johnson & Johnson | 1.5% | +26.6% |
| USB | U.S. Bancorp | 1.5% | +2.3% |
| TMO | Thermo Fisher Scientific Inc | 1.5% | +36.3% |
| COST | Costco Wholesale Corp | 1.4% | -4.2% |
| CNH | CNH Industrial N.V. | 1.4% | -6.4% |
| CPRT | Copart Inc | 1.3% | -7.1% |
| SLB | Schlumberger NV | 1.3% | -8.8% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | SELL | ABBV | 1.9% → 1.8% |
| Sep 14, 2026 | SELL | FTNT | 1.9% → 2.0% |
| Sep 14, 2026 | BUY | JPM | 2.0% → 2.0% |
| Sep 14, 2026 | BUY | ONB | 2.2% → 2.3% |
| Sep 14, 2026 | SELL | MRK | 1.3% → 0.0% |
Investment Style Analysis
Old National Bancorp is widely recognized for employing a Multi-Strategy strategy. As of Sep 18, 2026, the firm oversees approximately $1.7B in assets under management (AUM). The portfolio demonstrates a clear preference for the Drug Manufacturers - General and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Old National Bancorp made a significant move by reducing the position in ABBV. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Old National Bancorp's investment philosophy is centered on a relationship-driven, long-term approach that prioritizes risk management and client-focused solutions. Through its wealth management and trust services, the institution emphasizes diversified asset allocation and customized portfolio strategies designed to align with the unique financial goals and risk tolerances of its clients. The strategy integrates a commitment to fundamental stability with disciplined underwriting and core deposit growth, aiming to provide consistent value across various market cycles. By blending the resources of a large regional bank with the personalized service of a community institution, it focuses on transparency, ethical governance, and the preservation of capital.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Old National Bancorp.
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Frequently asked questions
How is the simulated portfolio for Old National Bancorp constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Old National Bancorp's largest holding?
As of the latest filing, Old National Bancorp's top position is Eli Lilly and Company (LLY), representing 39.3% of the portfolio. This reflects a high-conviction bet by the institution.
What is Old National Bancorp's historical performance and risk profile?
Our simulation indicates a total return of +25.1% with a win rate of 54%. Notably, the portfolio maintains a Sharpe Ratio of 4.21, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Old National Bancorp primarily invest in?
Old National Bancorp has a strong preference for the Drug Manufacturers - General sector, which makes up 42.7% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is Old National Bancorp's portfolio concentrated or diversified?
Old National Bancorp runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 59.3% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Old National Bancorp performed in 2026?
Our AI-simulated model portfolio for Old National Bancorp tracks a Year-to-Date (YTD) return of +12.7%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Jim Ryan manage Old National Bancorp directly?
Yes, Jim Ryan serves as the key portfolio manager for Old National Bancorp, overseeing the investment strategy and final capital allocation decisions.