Filed: 5/1/2026ACC: 0001140361-26-018481
📋 What this filing means
FIRST BUSINESS FINANCIAL SERVICES, INC. filed this quarterly 13F‑HR report disclosing 192 equity positions with a total reported market value of $1.12B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
192
Positions
$1.12B
Total AUM (reported)
8.06M
Total Shares
Allocation by class
COM$1.12B100.0%
Portfolio Concentration
Top 3$474.78M42.2%
4–10$310.78M27.6%
11–25$150.34M13.4%
Rest$188.83M16.8%
Top 3 weight
42.2%
Top 10 weight
69.8%
Voting Authority Distribution
Total shares with voting rights: 8.06M
Sole
Full voting authority
7.58M
shares
% of voting shares94.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
486.41K
shares
% of voting shares6.0%
Investment Discretion (by position count)
Sole192
Shared0
Other0
Dominant voting typeSole · 94.0% of voting shares
Institutional Holdings192
Rows:
Vanguard Total Stock Market ET
SOLEShares797.19K
TypeSH
Market value$255.75M
22.74%
Sole
797.19K
Shared
0.00
None
0.00
iShares Core MSCI EAFE ETF
SOLEShares1.56M
TypeSH
Market value$140.87M
12.52%
Sole
1.56M
Shared
0.00
None
0.00
iShares Russell 1000 Growth ET
SOLEShares183.31K
TypeSH
Market value$78.16M
6.95%
Sole
183.31K
Shared
0.00
None
0.00
iShares Core S&P Small-Cap ETF
SOLEShares500.94K
TypeSH
Market value$62.27M
5.54%
Sole
500.94K
Shared
0.00
None
0.00
iShares Core Dividend Growth
SOLEShares835.15K
TypeSH
Market value$58.61M
5.21%
Sole
835.15K
Shared
0.00
None
0.00
iShares Russell 1000 Value ETF
SOLEShares266.21K
TypeSH
Market value$56.88M
5.06%
Sole
266.21K
Shared
0.00
None
0.00
iShares Core S&P Mid-Cap ETF
SOLEShares707.53K
TypeSH
Market value$47.78M
4.25%
Sole
707.53K
Shared
0.00
None
0.00
iShares Core US Aggregate Bond
SOLEShares375.70K
TypeSH
Market value$37.30M
3.32%
Sole
375.70K
Shared
0.00
None
0.00
State Street SPDR S&P 500 ETF
SOLEShares43.75K
TypeSH
Market value$28.45M
2.53%
Sole
43.75K
Shared
0.00
None
0.00
First Business Financial Servi
SOLEShares361.31K
TypeSH
Market value$19.49M
1.73%
Sole
0.00
Shared
0.00
None
361.31K
JPMorgan Ultra-Short Income ET
SOLEShares349.70K
TypeSH
Market value$17.70M
1.57%
Sole
349.70K
Shared
0.00
None
0.00
Nvidia Corp
SOLEShares99.95K
TypeSH
Market value$17.43M
1.55%
Sole
96K
Shared
0.00
None
3.95K
Apple Inc
SOLEShares59.47K
TypeSH
Market value$15.09M
1.34%
Sole
54.86K
Shared
0.00
None
4.61K
Broadcom Inc
SOLEShares41.65K
TypeSH
Market value$12.89M
1.15%
Sole
41.65K
Shared
0.00
None
0.00
Alphabet Inc Cap Stk Cl A
SOLEShares42.16K
TypeSH
Market value$12.12M
1.08%
Sole
42.16K
Shared
0.00
None
0.00
Ciena Corp
SOLEShares30.05K
TypeSH
Market value$11.67M
1.04%
Sole
30.05K
Shared
0.00
None
0.00
JPMorgan Chase & Co
SOLEShares35.34K
TypeSH
Market value$10.40M
0.92%
Sole
35.34K
Shared
0.00
None
0.00
Quanta Services Inc
SOLEShares15.53K
TypeSH
Market value$8.52M
0.76%
Sole
15.53K
Shared
0.00
None
0.00
Arista Networks Inc
SOLEShares66.17K
TypeSH
Market value$8.12M
0.72%
Sole
66.17K
Shared
0.00
None
0.00
Microsoft Corp
SOLEShares18.05K
TypeSH
Market value$6.68M
0.59%
Sole
17.22K
Shared
0.00
None
829.00
Vanguard Short-Term Inflation
SOLEShares132.82K
TypeSH
Market value$6.63M
0.59%
Sole
132.82K
Shared
0.00
None
0.00
Lam Research Corporation
SOLEShares30.84K
TypeSH
Market value$6.59M
0.59%
Sole
30.84K
Shared
0.00
None
0.00
Lilly Eli Co
SOLEShares6.42K
TypeSH
Market value$5.90M
0.52%
Sole
6.42K
Shared
0.00
None
0.00
iShares National Muni Bond ETF
SOLEShares52.98K
TypeSH
Market value$5.62M
0.50%
Sole
52.98K
Shared
0.00
None
0.00
Exxon Mobil Corp
SOLEShares29.25K
TypeSH
Market value$4.96M
0.44%
Sole
25.36K
Shared
0.00
None
3.89K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
Vanguard Total Stock Market ETSOLE | Com | 797.19K | SH | $255.75M 22.74% | 797.19K | 0.00 | 0.00 |
iShares Core MSCI EAFE ETFSOLE | Com | 1.56M | SH | $140.87M 12.52% | 1.56M | 0.00 | 0.00 |
iShares Russell 1000 Growth ETSOLE | Com | 183.31K | SH | $78.16M 6.95% | 183.31K | 0.00 | 0.00 |
iShares Core S&P Small-Cap ETFSOLE | Com | 500.94K | SH | $62.27M 5.54% | 500.94K | 0.00 | 0.00 |
iShares Core Dividend GrowthSOLE | Com | 835.15K | SH | $58.61M 5.21% | 835.15K | 0.00 | 0.00 |
iShares Russell 1000 Value ETFSOLE | Com | 266.21K | SH | $56.88M 5.06% | 266.21K | 0.00 | 0.00 |
iShares Core S&P Mid-Cap ETFSOLE | Com | 707.53K | SH | $47.78M 4.25% | 707.53K | 0.00 | 0.00 |
iShares Core US Aggregate BondSOLE | Com | 375.70K | SH | $37.30M 3.32% | 375.70K | 0.00 | 0.00 |
State Street SPDR S&P 500 ETFSOLE | Com | 43.75K | SH | $28.45M 2.53% | 43.75K | 0.00 | 0.00 |
First Business Financial ServiSOLE | Com | 361.31K | SH | $19.49M 1.73% | 0.00 | 0.00 | 361.31K |
JPMorgan Ultra-Short Income ETSOLE | Com | 349.70K | SH | $17.70M 1.57% | 349.70K | 0.00 | 0.00 |
Nvidia CorpSOLE | Com | 99.95K | SH | $17.43M 1.55% | 96K | 0.00 | 3.95K |
Apple IncSOLE | Com | 59.47K | SH | $15.09M 1.34% | 54.86K | 0.00 | 4.61K |
Broadcom IncSOLE | Com | 41.65K | SH | $12.89M 1.15% | 41.65K | 0.00 | 0.00 |
Alphabet Inc Cap Stk Cl ASOLE | Com | 42.16K | SH | $12.12M 1.08% | 42.16K | 0.00 | 0.00 |
Ciena CorpSOLE | Com | 30.05K | SH | $11.67M 1.04% | 30.05K | 0.00 | 0.00 |
JPMorgan Chase & CoSOLE | Com | 35.34K | SH | $10.40M 0.92% | 35.34K | 0.00 | 0.00 |
Quanta Services IncSOLE | Com | 15.53K | SH | $8.52M 0.76% | 15.53K | 0.00 | 0.00 |
Arista Networks IncSOLE | Com | 66.17K | SH | $8.12M 0.72% | 66.17K | 0.00 | 0.00 |
Microsoft CorpSOLE | Com | 18.05K | SH | $6.68M 0.59% | 17.22K | 0.00 | 829.00 |
Vanguard Short-Term InflationSOLE | Com | 132.82K | SH | $6.63M 0.59% | 132.82K | 0.00 | 0.00 |
Lam Research CorporationSOLE | Com | 30.84K | SH | $6.59M 0.59% | 30.84K | 0.00 | 0.00 |
Lilly Eli CoSOLE | Com | 6.42K | SH | $5.90M 0.52% | 6.42K | 0.00 | 0.00 |
iShares National Muni Bond ETFSOLE | Com | 52.98K | SH | $5.62M 0.50% | 52.98K | 0.00 | 0.00 |
Exxon Mobil CorpSOLE | Com | 29.25K | SH | $4.96M 0.44% | 25.36K | 0.00 | 3.89K |
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