Filed: 7/31/2025ACC: 0001140361-25-028130
📋 What this filing means
FIRST BUSINESS FINANCIAL SERVICES, INC. filed this quarterly 13F‑HR report disclosing 185 equity positions with a total reported market value of $1.11B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
185
Positions
$1.11B
Total AUM (reported)
8.23M
Total Shares
Allocation by class
COM$1.11B100.0%
Portfolio Concentration
Top 3$503.54M45.4%
4–10$310.35M28.0%
11–25$117.41M10.6%
Rest$177.56M16.0%
Top 3 weight
45.4%
Top 10 weight
73.4%
Voting Authority Distribution
Total shares with voting rights: 8.23M
Sole
Full voting authority
7.57M
shares
% of voting shares92.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
657.26K
shares
% of voting shares8.0%
Investment Discretion (by position count)
Sole185
Shared0
Other0
Dominant voting typeSole · 92.0% of voting shares
Institutional Holdings185
Rows:
Vanguard Total Stock Market ET
SOLEShares902.06K
TypeSH
Market value$274.16M
24.72%
Sole
902.06K
Shared
0.00
None
0.00
iShares Core MSCI EAFE ETF
SOLEShares1.70M
TypeSH
Market value$142.17M
12.82%
Sole
1.70M
Shared
0.00
None
0.00
iShares Russell 1000 Growth ET
SOLEShares205.40K
TypeSH
Market value$87.21M
7.86%
Sole
205.40K
Shared
0.00
None
0.00
iShares Core S&P Small-Cap ETF
SOLEShares562.74K
TypeSH
Market value$61.50M
5.55%
Sole
562.74K
Shared
0.00
None
0.00
iShares Core Dividend Growth
SOLEShares937.05K
TypeSH
Market value$59.91M
5.40%
Sole
937.05K
Shared
0.00
None
0.00
iShares Russell 1000 Value ETF
SOLEShares295.30K
TypeSH
Market value$57.36M
5.17%
Sole
295.30K
Shared
0.00
None
0.00
iShares Core S&P Mid-Cap ETF
SOLEShares790.12K
TypeSH
Market value$49.00M
4.42%
Sole
790.12K
Shared
0.00
None
0.00
iShares Core US Aggregate Bond
SOLEShares356.90K
TypeSH
Market value$35.40M
3.19%
Sole
356.90K
Shared
0.00
None
0.00
SPDR S&P 500 ETF
SOLEShares43.99K
TypeSH
Market value$27.18M
2.45%
Sole
43.99K
Shared
0.00
None
0.00
First Business Financial Servi
SOLEShares394.49K
TypeSH
Market value$19.98M
1.80%
Sole
0.00
Shared
0.00
None
394.49K
Nvidia Corp
SOLEShares101.71K
TypeSH
Market value$16.07M
1.45%
Sole
97.76K
Shared
0.00
None
3.95K
Apple Inc
SOLEShares59.63K
TypeSH
Market value$12.23M
1.10%
Sole
55.02K
Shared
0.00
None
4.61K
Broadcom Inc
SOLEShares39.94K
TypeSH
Market value$11.01M
0.99%
Sole
39.94K
Shared
0.00
None
0.00
JPMorgan Ultra-Short Income ET
SOLEShares197.07K
TypeSH
Market value$9.99M
0.90%
Sole
197.07K
Shared
0.00
None
0.00
JPMorgan Chase & Co
SOLEShares33.95K
TypeSH
Market value$9.84M
0.89%
Sole
33.95K
Shared
0.00
None
0.00
Microsoft Corp
SOLEShares18.12K
TypeSH
Market value$9.01M
0.81%
Sole
17.26K
Shared
0.00
None
865.00
Alphabet Inc Cap Stk Cl A
SOLEShares40.75K
TypeSH
Market value$7.18M
0.65%
Sole
40.75K
Shared
0.00
None
0.00
Arista Networks Inc
SOLEShares65.88K
TypeSH
Market value$6.74M
0.61%
Sole
65.88K
Shared
0.00
None
0.00
Caterpillar Inc
SOLEShares14.67K
TypeSH
Market value$5.69M
0.51%
Sole
584.00
Shared
0.00
None
14.08K
Quanta Services Inc
SOLEShares14.63K
TypeSH
Market value$5.53M
0.50%
Sole
14.63K
Shared
0.00
None
0.00
Deere & Co Com
SOLEShares10.04K
TypeSH
Market value$5.11M
0.46%
Sole
40.00
Shared
0.00
None
10K
iShares Edge MSCI USA Momentum
SOLEShares20.34K
TypeSH
Market value$4.89M
0.44%
Sole
20.34K
Shared
0.00
None
0.00
Lilly Eli Co
SOLEShares6.18K
TypeSH
Market value$4.82M
0.43%
Sole
6.18K
Shared
0.00
None
0.00
CENCORA INC
SOLEShares15.61K
TypeSH
Market value$4.68M
0.42%
Sole
15.61K
Shared
0.00
None
0.00
Technology Select Sector SPDR
SOLEShares18.25K
TypeSH
Market value$4.62M
0.42%
Sole
18.25K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
Vanguard Total Stock Market ETSOLE | Com | 902.06K | SH | $274.16M 24.72% | 902.06K | 0.00 | 0.00 |
iShares Core MSCI EAFE ETFSOLE | Com | 1.70M | SH | $142.17M 12.82% | 1.70M | 0.00 | 0.00 |
iShares Russell 1000 Growth ETSOLE | Com | 205.40K | SH | $87.21M 7.86% | 205.40K | 0.00 | 0.00 |
iShares Core S&P Small-Cap ETFSOLE | Com | 562.74K | SH | $61.50M 5.55% | 562.74K | 0.00 | 0.00 |
iShares Core Dividend GrowthSOLE | Com | 937.05K | SH | $59.91M 5.40% | 937.05K | 0.00 | 0.00 |
iShares Russell 1000 Value ETFSOLE | Com | 295.30K | SH | $57.36M 5.17% | 295.30K | 0.00 | 0.00 |
iShares Core S&P Mid-Cap ETFSOLE | Com | 790.12K | SH | $49.00M 4.42% | 790.12K | 0.00 | 0.00 |
iShares Core US Aggregate BondSOLE | Com | 356.90K | SH | $35.40M 3.19% | 356.90K | 0.00 | 0.00 |
SPDR S&P 500 ETFSOLE | Com | 43.99K | SH | $27.18M 2.45% | 43.99K | 0.00 | 0.00 |
First Business Financial ServiSOLE | Com | 394.49K | SH | $19.98M 1.80% | 0.00 | 0.00 | 394.49K |
Nvidia CorpSOLE | Com | 101.71K | SH | $16.07M 1.45% | 97.76K | 0.00 | 3.95K |
Apple IncSOLE | Com | 59.63K | SH | $12.23M 1.10% | 55.02K | 0.00 | 4.61K |
Broadcom IncSOLE | Com | 39.94K | SH | $11.01M 0.99% | 39.94K | 0.00 | 0.00 |
JPMorgan Ultra-Short Income ETSOLE | Com | 197.07K | SH | $9.99M 0.90% | 197.07K | 0.00 | 0.00 |
JPMorgan Chase & CoSOLE | Com | 33.95K | SH | $9.84M 0.89% | 33.95K | 0.00 | 0.00 |
Microsoft CorpSOLE | Com | 18.12K | SH | $9.01M 0.81% | 17.26K | 0.00 | 865.00 |
Alphabet Inc Cap Stk Cl ASOLE | Com | 40.75K | SH | $7.18M 0.65% | 40.75K | 0.00 | 0.00 |
Arista Networks IncSOLE | Com | 65.88K | SH | $6.74M 0.61% | 65.88K | 0.00 | 0.00 |
Caterpillar IncSOLE | Com | 14.67K | SH | $5.69M 0.51% | 584.00 | 0.00 | 14.08K |
Quanta Services IncSOLE | Com | 14.63K | SH | $5.53M 0.50% | 14.63K | 0.00 | 0.00 |
Deere & Co ComSOLE | Com | 10.04K | SH | $5.11M 0.46% | 40.00 | 0.00 | 10K |
iShares Edge MSCI USA MomentumSOLE | Com | 20.34K | SH | $4.89M 0.44% | 20.34K | 0.00 | 0.00 |
Lilly Eli CoSOLE | Com | 6.18K | SH | $4.82M 0.43% | 6.18K | 0.00 | 0.00 |
CENCORA INCSOLE | Com | 15.61K | SH | $4.68M 0.42% | 15.61K | 0.00 | 0.00 |
Technology Select Sector SPDRSOLE | Com | 18.25K | SH | $4.62M 0.42% | 18.25K | 0.00 | 0.00 |
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