Filed: 2/6/2026ACC: 0001140361-26-004002
📋 What this filing means
FIRST BUSINESS FINANCIAL SERVICES, INC. filed this quarterly 13F‑HR report disclosing 168 equity positions with a total reported market value of $1.09B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
168
Positions
$1.09B
Total AUM (reported)
7.41M
Total Shares
Allocation by class
COM$1.09B100.0%
Portfolio Concentration
Top 3$486.09M44.6%
4–10$305.05M28.0%
11–25$134.21M12.3%
Rest$163.69M15.0%
Top 3 weight
44.6%
Top 10 weight
72.6%
Voting Authority Distribution
Total shares with voting rights: 7.41M
Sole
Full voting authority
6.91M
shares
% of voting shares93.3%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
498.95K
shares
% of voting shares6.7%
Investment Discretion (by position count)
Sole168
Shared0
Other0
Dominant voting typeSole · 93.3% of voting shares
Institutional Holdings168
Rows:
Vanguard Total Stock Market ET
SOLEShares788.90K
TypeSH
Market value$264.50M
24.29%
Sole
788.90K
Shared
0.00
None
0.00
iShares Core MSCI EAFE ETF
SOLEShares1.51M
TypeSH
Market value$135.41M
12.43%
Sole
1.51M
Shared
0.00
None
0.00
iShares Russell 1000 Growth ET
SOLEShares182.07K
TypeSH
Market value$86.18M
7.91%
Sole
182.07K
Shared
0.00
None
0.00
iShares Core S&P Small-Cap ETF
SOLEShares492.71K
TypeSH
Market value$59.21M
5.44%
Sole
492.71K
Shared
0.00
None
0.00
iShares Core Dividend Growth
SOLEShares822.04K
TypeSH
Market value$57.07M
5.24%
Sole
822.04K
Shared
0.00
None
0.00
iShares Russell 1000 Value ETF
SOLEShares262.42K
TypeSH
Market value$55.20M
5.07%
Sole
262.42K
Shared
0.00
None
0.00
iShares Core S&P Mid-Cap ETF
SOLEShares696.77K
TypeSH
Market value$45.99M
4.22%
Sole
696.77K
Shared
0.00
None
0.00
iShares Core US Aggregate Bond
SOLEShares381.54K
TypeSH
Market value$38.11M
3.50%
Sole
381.54K
Shared
0.00
None
0.00
SPDR S&P 500 ETF
SOLEShares43.79K
TypeSH
Market value$29.86M
2.74%
Sole
43.79K
Shared
0.00
None
0.00
First Business Financial Servi
SOLEShares361.31K
TypeSH
Market value$19.62M
1.80%
Sole
0.00
Shared
0.00
None
361.31K
Nvidia Corp
SOLEShares94.50K
TypeSH
Market value$17.62M
1.62%
Sole
90.55K
Shared
0.00
None
3.95K
Apple Inc
SOLEShares56.93K
TypeSH
Market value$15.48M
1.42%
Sole
52.32K
Shared
0.00
None
4.61K
Broadcom Inc
SOLEShares37.82K
TypeSH
Market value$13.09M
1.20%
Sole
37.82K
Shared
0.00
None
0.00
Alphabet Inc Cap Stk Cl A
SOLEShares38.98K
TypeSH
Market value$12.20M
1.12%
Sole
38.98K
Shared
0.00
None
0.00
JPMorgan Ultra-Short Income ET
SOLEShares217.70K
TypeSH
Market value$11.01M
1.01%
Sole
217.70K
Shared
0.00
None
0.00
JPMorgan Chase & Co
SOLEShares32.11K
TypeSH
Market value$10.35M
0.95%
Sole
32.11K
Shared
0.00
None
0.00
Microsoft Corp
SOLEShares17.68K
TypeSH
Market value$8.55M
0.79%
Sole
16.28K
Shared
0.00
None
1.39K
Arista Networks Inc
SOLEShares59.04K
TypeSH
Market value$7.74M
0.71%
Sole
59.04K
Shared
0.00
None
0.00
Ciena Corp
SOLEShares26.74K
TypeSH
Market value$6.25M
0.57%
Sole
26.74K
Shared
0.00
None
0.00
Lilly Eli Co
SOLEShares5.72K
TypeSH
Market value$6.15M
0.56%
Sole
5.72K
Shared
0.00
None
0.00
Quanta Services Inc
SOLEShares14.11K
TypeSH
Market value$5.96M
0.55%
Sole
14.11K
Shared
0.00
None
0.00
State Street Technology Select
SOLEShares36.50K
TypeSH
Market value$5.25M
0.48%
Sole
36.50K
Shared
0.00
None
0.00
iShares Edge MSCI USA Momentum
SOLEShares20.34K
TypeSH
Market value$5.09M
0.47%
Sole
20.34K
Shared
0.00
None
0.00
iShares National Muni Bond ETF
SOLEShares45.13K
TypeSH
Market value$4.83M
0.44%
Sole
45.13K
Shared
0.00
None
0.00
CENCORA INC
SOLEShares13.74K
TypeSH
Market value$4.64M
0.43%
Sole
13.74K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
Vanguard Total Stock Market ETSOLE | Com | 788.90K | SH | $264.50M 24.29% | 788.90K | 0.00 | 0.00 |
iShares Core MSCI EAFE ETFSOLE | Com | 1.51M | SH | $135.41M 12.43% | 1.51M | 0.00 | 0.00 |
iShares Russell 1000 Growth ETSOLE | Com | 182.07K | SH | $86.18M 7.91% | 182.07K | 0.00 | 0.00 |
iShares Core S&P Small-Cap ETFSOLE | Com | 492.71K | SH | $59.21M 5.44% | 492.71K | 0.00 | 0.00 |
iShares Core Dividend GrowthSOLE | Com | 822.04K | SH | $57.07M 5.24% | 822.04K | 0.00 | 0.00 |
iShares Russell 1000 Value ETFSOLE | Com | 262.42K | SH | $55.20M 5.07% | 262.42K | 0.00 | 0.00 |
iShares Core S&P Mid-Cap ETFSOLE | Com | 696.77K | SH | $45.99M 4.22% | 696.77K | 0.00 | 0.00 |
iShares Core US Aggregate BondSOLE | Com | 381.54K | SH | $38.11M 3.50% | 381.54K | 0.00 | 0.00 |
SPDR S&P 500 ETFSOLE | Com | 43.79K | SH | $29.86M 2.74% | 43.79K | 0.00 | 0.00 |
First Business Financial ServiSOLE | Com | 361.31K | SH | $19.62M 1.80% | 0.00 | 0.00 | 361.31K |
Nvidia CorpSOLE | Com | 94.50K | SH | $17.62M 1.62% | 90.55K | 0.00 | 3.95K |
Apple IncSOLE | Com | 56.93K | SH | $15.48M 1.42% | 52.32K | 0.00 | 4.61K |
Broadcom IncSOLE | Com | 37.82K | SH | $13.09M 1.20% | 37.82K | 0.00 | 0.00 |
Alphabet Inc Cap Stk Cl ASOLE | Com | 38.98K | SH | $12.20M 1.12% | 38.98K | 0.00 | 0.00 |
JPMorgan Ultra-Short Income ETSOLE | Com | 217.70K | SH | $11.01M 1.01% | 217.70K | 0.00 | 0.00 |
JPMorgan Chase & CoSOLE | Com | 32.11K | SH | $10.35M 0.95% | 32.11K | 0.00 | 0.00 |
Microsoft CorpSOLE | Com | 17.68K | SH | $8.55M 0.79% | 16.28K | 0.00 | 1.39K |
Arista Networks IncSOLE | Com | 59.04K | SH | $7.74M 0.71% | 59.04K | 0.00 | 0.00 |
Ciena CorpSOLE | Com | 26.74K | SH | $6.25M 0.57% | 26.74K | 0.00 | 0.00 |
Lilly Eli CoSOLE | Com | 5.72K | SH | $6.15M 0.56% | 5.72K | 0.00 | 0.00 |
Quanta Services IncSOLE | Com | 14.11K | SH | $5.96M 0.55% | 14.11K | 0.00 | 0.00 |
State Street Technology SelectSOLE | Com | 36.50K | SH | $5.25M 0.48% | 36.50K | 0.00 | 0.00 |
iShares Edge MSCI USA MomentumSOLE | Com | 20.34K | SH | $5.09M 0.47% | 20.34K | 0.00 | 0.00 |
iShares National Muni Bond ETFSOLE | Com | 45.13K | SH | $4.83M 0.44% | 45.13K | 0.00 | 0.00 |
CENCORA INCSOLE | Com | 13.74K | SH | $4.64M 0.43% | 13.74K | 0.00 | 0.00 |
Page 1 of 7
…