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Associated Trust Company, National Association
Heath Sorenson · Bank/Insurer · Multi-Strategy
Associated Trust Company, National Association (ATC) is the fiduciary and investment management arm of Associated Banc-Corp, the largest bank holding company based in Wisconsin. Headquartered in Milwaukee and established in 1986, the firm operates as a national association providing wealth management, institutional trust, and retirement plan services. ATC caters to high-net-worth individuals, corporations, and non-profits, offering specialized solutions such as estate administration and active asset management. As a non-deposit trust company, it maintains a strong commitment to local expertise and personalized service while leveraging the resources of its parent company to manage billions in client assets. The institution is recognized for its disciplined fiduciary oversight and integrated approach to financial planning and wealth transfer.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +22.4% |
| YTD return | +14.6% |
| Sharpe ratio | 3.98 |
| Win rate | 53% |
| AUM | $2.1B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $2.1B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.associatedbank.com |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| GOOGL | Alphabet Inc Class A | 11.7% | +39.2% |
| NVDA | NVIDIA Corporation | 10.3% | +18.5% |
| MSFT | Microsoft Corporation | 10.2% | +1.6% |
| AAPL | Apple Inc | 8.7% | +31.6% |
| LRCX | Lam Research Corp | 8.0% | +66.6% |
| AMZN | Amazon.com Inc | 7.1% | +14.4% |
| JPM | JPMorgan Chase & Co | 6.5% | +13.9% |
| PM | Philip Morris International Inc | 4.7% | +14.4% |
| XOM | Exxon Mobil Corp | 4.2% | +30.7% |
| ASB | Associated Banc-Corp | 3.6% | +13.2% |
| LLY | Eli Lilly and Company | 3.3% | +31.8% |
| NOW | ServiceNow Inc | 2.9% | +47.4% |
| CRM | Salesforce.com Inc | 2.7% | +38.2% |
| BRK-A | Berkshire Hathaway Inc | 2.6% | +1.6% |
| SCHW | Charles Schwab Corp | 2.6% | +15.5% |
| IQV | IQVIA Holdings Inc | 2.5% | +13.2% |
| UBER | Uber Technologies Inc | 2.2% | -4.6% |
| COF | Capital One Financial Corporation | 2.2% | -2.7% |
| KMB | Kimberly-Clark Corporation | 2.0% | -15.9% |
| META | Meta Platforms Inc. | 2.0% | +14.2% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | SELL | NOW | 3.0% → 2.9% |
| Sep 14, 2026 | BUY | JPM | 6.4% → 6.5% |
| Sep 14, 2026 | SELL | KMB | 2.2% → 2.0% |
| Sep 14, 2026 | BUY | COF | 2.3% → 2.2% |
| Sep 14, 2026 | SELL | BRK-A | 2.6% → 2.6% |
Investment Style Analysis
Associated Trust Company, National Association is widely recognized for employing a Multi-Strategy strategy. As of Sep 21, 2026, the firm oversees approximately $2.1B in assets under management (AUM). The portfolio demonstrates a clear preference for the Internet Content & Information and Semiconductors sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Associated Trust Company, National Association made a significant move by reducing the position in NOW. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Associated Trust Company follows a disciplined, active portfolio management philosophy that rejects a standardized approach in favor of customized strategies tailored to each client's unique financial goals. Their process emphasizes long-term wealth preservation, risk management, and tax efficiency, guided by a fiduciary duty to act in the best interests of their clients. By integrating financial planning with specialized investment research and diversified asset allocation, the firm seeks to help clients navigate various economic cycles while evolving their portfolios to meet changing objectives and generational wealth transfer needs.
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 Associated Trust Company, National Association.
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Frequently asked questions
How is the simulated portfolio for Associated Trust Company, National Association 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 Associated Trust Company, National Association's largest holding?
As of the latest filing, Associated Trust Company, National Association's top position is Alphabet Inc Class A (GOOGL), representing 11.7% of the portfolio. This reflects a high-conviction bet by the institution.
What is Associated Trust Company, National Association's historical performance and risk profile?
Our simulation indicates a total return of +22.4% with a win rate of 53%. Notably, the portfolio maintains a Sharpe Ratio of 3.98, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Associated Trust Company, National Association primarily invest in?
Associated Trust Company, National Association has a strong preference for the Internet Content & Information sector, which makes up 13.7% of their disclosed assets. The portfolio also has exposure to Semiconductors, indicating a specific thematic focus.
Is Associated Trust Company, National Association's portfolio concentrated or diversified?
Associated Trust Company, National Association runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 32.2% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Associated Trust Company, National Association performed in 2026?
Our AI-simulated model portfolio for Associated Trust Company, National Association tracks a Year-to-Date (YTD) return of +14.6%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Heath Sorenson manage Associated Trust Company, National Association directly?
Yes, Heath Sorenson serves as the key portfolio manager for Associated Trust Company, National Association, overseeing the investment strategy and final capital allocation decisions.