FIRST BUSINESS FINANCIAL SERVICES, INC.
Sector Allocation
- Other73.6%$948.8M
- Technology11.8%$151.7M
- Financials5.2%$66.5M
- Industrials2.1%$27.0M
- Consumer Staples1.6%$21.2M
- Healthcare1.5%$19.5M
- Consumer Discretionary1.3%$16.1M
- Utilities0.9%$12.0M
- Materials0.8%$10.2M
- Energy0.6%$7.5M
AUM History
13fpro.ai/research/fund/first-business-financial-services-inc-1521951
Conviction and streaks
Diversifying · top 10 = 68.7%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
- Vanguard$294.1M
- iShares$151.4M
- iShares$90.9M
- iShares$74.5M
- iShares$64.4M
- iShares$63.6M
- iShares$54.9M
- iShares$38.5M
SPY
$32.6MFBIZ
$21.5MNVDA
$20.5M- JPMorgan$18.4M
AAPL
$17.3MAVGO
$15.6MGOOGL
$15.6MCIEN
$14.1MLRCX
$14.1MJPM
$11.8MANET
$11.7MPWR
$11.2M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/first-business-financial-services-inc-1521951
FIRST BUSINESS FINANCIAL SERVICES, INC. 13F holdings — Q2 2026
$1.3B portfolio (+14.6% QoQ) · 201 holdings · Q2 2026 13F · top 10 are 69% of the stock portfolio
- 1
Vanguard Total Stock Market ET - Com
$294.1M
22.8% of stocks
-0.3%This quarter—Since filed—HeldAIQuality—Est. buy— - 2
iShares Core MSCI EAFE ETF - Com
$151.4M
11.7% of stocks
+0.7%This quarter—Since filed—HeldAIQuality—Est. buy— - 3
iShares Russell 1000 Growth ET - Com
$90.9M
7.0% of stocks
+299%This quarter—Since filed—HeldAIQuality—Est. buy— - 4
iShares Core S&P Small-Cap ETF - Com
$74.5M
5.8% of stocks
+0.2%This quarter—Since filed—HeldAIQuality—Est. buy— - 5
iShares Russell 1000 Value ETF - Com
$64.4M
5.0% of stocks
-0.1%This quarter—Since filed—HeldAIQuality—Est. buy— - 6
iShares Core Dividend Growth - Com
$63.6M
4.9% of stocks
+0.5%This quarter—Since filed—HeldAIQuality—Est. buy— - 7
iShares Core S&P Mid-Cap ETF - Com
$54.9M
4.3% of stocks
+0.6%This quarter—Since filed—HeldAIQuality—Est. buy— - 8
iShares Core US Aggregate Bond - Com
$38.5M
3.0% of stocks
+3%This quarter—Since filed—HeldAIQuality—Est. buy— $32.6M
2.5% of stocks
-0.2%This quarter+3.9%Since filed9+ qtrsHeld$21.5M
1.7% of stocks
-6%This quarter+6.0%Since filed9+ qtrsHeld
| # | Company | Value | Weight | This quarter | Since filed | Held | AI quality | Est. buy | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Vanguard Total Stock Market ET - Com | $294.1M | 22.8% | -0.3% | — | — | — | — | |
| 2 | iShares Core MSCI EAFE ETF - Com | $151.4M | 11.7% | +0.7% | — | — | — | — | |
| 3 | iShares Russell 1000 Growth ET - Com | $90.9M | 7.0% | +299% | — | — | — | — | |
| 4 | iShares Core S&P Small-Cap ETF - Com | $74.5M | 5.8% | +0.2% | — | — | — | — | |
| 5 | iShares Russell 1000 Value ETF - Com | $64.4M | 5.0% | -0.1% | — | — | — | — | |
| 6 | iShares Core Dividend Growth - Com | $63.6M | 4.9% | +0.5% | — | — | — | — | |
| 7 | iShares Core S&P Mid-Cap ETF - Com | $54.9M | 4.3% | +0.6% | — | — | — | — | |
| 8 | iShares Core US Aggregate Bond - Com | $38.5M | 3.0% | +3% | — | — | — | — | |
| 9 | $32.6M | 2.5% | -0.2% | +3.9% | 9+ qtrs | — | Estimated buy price is Pro: unlock with a free trial | ||
| 10 | $21.5M | 1.7% | -6% | +6.0% | 9+ qtrs | 55.5#1,239 | Estimated buy price is Pro: unlock with a free trial |
All holdings — FIRST BUSINESS FINANCIAL SERVICES, INC. (Q2 2026)
201 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | NVIDIA CORP | Technology | $20.5M | 1.6% | 103K | +3% | 9+ qtrsAdded 2 qtrs in a row | 86.0 | 13F | |
| 12 | — | JPMorgan Ultra-Short Income ET - Com | — | $18.4M | 1.4% | 364K | +4% | — | — | 13F |
| 13 | Apple Inc. | Technology | $17.3M | 1.4% | 60K | +0.8% | 9+ qtrs | 75.7 | 13F | |
| 14 | Broadcom Inc. | Technology | $15.6M | 1.2% | 41K | -1.0% | 9+ qtrs | 84.5 | 13F | |
| 15 | Alphabet Inc. | Technology | $15.6M | 1.2% | 44K | +3% | 9+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | CIENA CORP | Technology | $14.1M | 1.1% | 29K | -4% | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | LAM RESEARCH CORP | Technology | $14.1M | 1.1% | 33K | +5% | 9+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | JPMORGAN CHASE & CO | Financials | $11.8M | 0.9% | 36K | +2% | 9+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Arista Networks, Inc. | Technology | $11.7M | 0.9% | 69K | +4% | 9+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | QUANTA SERVICES, INC. | Industrials | $11.2M | 0.9% | 16K | +0.4% | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | ELI LILLY & Co | Healthcare | $8.0M | 0.6% | 6,642 | +4% | 9+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | — | Vanguard Short-Term Inflation - Cometf/fund | — | $7.5M | 0.6% | 150K | +13% | — | — | 13F |
| 23 | — | iShares Edge MSCI USA Momentum - Cometf/fund | — | $7.0M | 0.5% | 20K | — | — | — | 13F |
| 24 | MICROSOFT CORP | Technology | $7.0M | 0.5% | 19K | +3% | 9+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | — | State Street Technology Select - Com | — | $7.0M | 0.5% | 36K | — | — | — | 13F |
| 26 | — | iShares S&P 500 Core - Com | — | $6.5M | 0.5% | 8,639 | +33% | |||
| 27 | — | iShares National Muni Bond ETF - Com | — | $5.9M | 0.5% | 55K | +3% | |||
| 28 | $C | CITIGROUP INC | Financials | $5.8M | 0.5% | 41K | +4% | |||
| 29 | $ADI | ANALOG DEVICES INC | Technology | $5.5M | 0.4% | 14K | +4% | |||
| 30 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $4.6M | 0.3% | 80K | +3% | |||
| 31 | $NUE | NUCOR CORP | Materials | $4.6M | 0.3% | 20K | +4% | |||
| 32 | $COR | Cencora, Inc. | Consumer Staples | $4.5M | 0.3% | 16K | +4% | |||
| 33 | $BRK.A | BERKSHIRE HATHAWAY INC | Financials | $4.5M | 0.3% | 6 | — | |||
| 34 | $COST | COSTCO WHOLESALE CORP /NEW | Consumer Staples | $4.4M | 0.3% | 4,723 | +2% | |||
| 35 | $XOM.R34088 | EXXON MOBIL CORP | Energy | $4.2M | 0.3% | 31K | +5% | |||
| 36 | $TXN | TEXAS INSTRUMENTS INC | Technology | $4.2M | 0.3% | 14K | +3% | |||
| 37 | $GD | GENERAL DYNAMICS CORP | Industrials | $3.6M | 0.3% | 10K | +4% | |||
| 38 | $CSCO | CISCO SYSTEMS, INC. | Technology | $3.6M | 0.3% | 31K | -0.0% | |||
| 39 | — | Return Stacked Global Stocks & - Com | — | $3.6M | 0.3% | 118K | +51% | |||
| 40 | $EQIX | EQUINIX INC | Real Estate | $3.6M | 0.3% | 3,418 | +4% | |||
| 41 | $EXPE | Expedia Group, Inc. | Consumer Discretionary | $3.2M | 0.3% | 13K | +4% | |||
| 42 | $KO | COCA COLA CO | Consumer Staples | $3.2M | 0.3% | 40K | +3% | |||
| 43 | $SYK | STRYKER CORP | Healthcare | $3.2M | 0.2% | 10K | +4% | |||
| 44 | $RSG | REPUBLIC SERVICES, INC. | Utilities | $3.1M | 0.2% | 14K | +2% | |||
| 45 | $PFH | PRUDENTIAL FINANCIAL INC | Financials | $3.1M | 0.2% | 29K | +2% | |||
| 46 | $AMZN | AMAZON COM INC | Consumer Discretionary | $3.1M | 0.2% | 13K | +4% | |||
| 47 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $3.1M | 0.2% | 20K | +4% | |||
| 48 | $NEE | NEXTERA ENERGY INC | Utilities | $3.0M | 0.2% | 35K | +4% | |||
| 49 | $TOL | Toll Brothers, Inc. | Industrials | $3.0M | 0.2% | 18K | +6% | |||
| 50 | $TMUS | T-Mobile US, Inc. | Communication Services | $2.9M | 0.2% | 17K | +3% | |||
| 51 | $EA | ELECTRONIC ARTS INC. | Technology | $2.9M | 0.2% | 14K | -0.4% | |||
| 52 | — | State Street Energy Select Sec - Com | — | $2.9M | 0.2% | 54K | — | |||
| 53 | — | State Street Industrial Select - Com | — | $2.6M | 0.2% | 14K | — | |||
| 54 | $META | Meta Platforms, Inc. | Technology | $2.6M | 0.2% | 4,553 | +5% | |||
| 55 | $GOOG | Alphabet Inc. | Technology | $2.5M | 0.2% | 7,019 | +2% | |||
| 56 | $DRI | DARDEN RESTAURANTS INC | Consumer Discretionary | $2.3M | 0.2% | 11K | +4% | |||
| 57 | $OSK | OSHKOSH CORP | Industrials | $2.3M | 0.2% | 15K | +5% | |||
| 58 | $ICE | Intercontinental Exchange, Inc. | Financials | $2.2M | 0.2% | 18K | +3% | |||
| 59 | $GLW | CORNING INC /NY | Materials | $2.2M | 0.2% | 8,538 | -5% | |||
| 60 | $LOW | LOWES COMPANIES INC | Consumer Discretionary | $2.1M | 0.2% | 9,726 | +4% | |||
| 61 | $AMD | ADVANCED MICRO DEVICES INC | Technology | $2.1M | 0.2% | 3,600 | +3% | |||
| 62 | $HWM | Howmet Aerospace Inc. | Materials | $2.1M | 0.2% | 7,638 | New | |||
| 63 | $QCOM | QUALCOMM INC/DE | Technology | $1.9M | 0.1% | 11K | +4% | |||
| 64 | $PM | Philip Morris International Inc. | Consumer Staples | $1.9M | 0.1% | 11K | +0.9% | |||
| 65 | $AEP | AMERICAN ELECTRIC POWER CO INC | Utilities | $1.9M | 0.1% | 14K | +6% | |||
| 66 | $SLB | SLB LIMITED/NV | Energy | $1.9M | 0.1% | 40K | +4% | |||
| 67 | $IQV | IQVIA HOLDINGS INC. | Healthcare | $1.8M | 0.1% | 9,340 | +4% | |||
| 68 | $ABBV | AbbVie Inc. | Healthcare | $1.8M | 0.1% | 7,047 | -2% | |||
| 69 | — | iShares Russell 1000 ETF - Com | — | $1.7M | 0.1% | 4,244 | — | |||
| 70 | $NFLX | NETFLIX INC | Communication Services | $1.6M | 0.1% | 22K | +4% | |||
| 71 | $GLD | SPDR GOLD TRUST | Financials | $1.6M | 0.1% | 4,247 | — | |||
| 72 | — | Vanguard Small-Cap ETF - Com | — | $1.5M | 0.1% | 5,070 | — | |||
| 73 | $KR | KROGER CO | Consumer Staples | $1.5M | 0.1% | 28K | +5% | |||
| 74 | — | State Street Consumer Dis Sele - Com | — | $1.5M | 0.1% | 13K | — | |||
| 75 | $CL | COLGATE PALMOLIVE CO | Consumer Staples | $1.5M | 0.1% | 16K | +8% | |||
| 76 | — | iShares Russell 2000 - Com | — | $1.5M | 0.1% | 4,950 | — | |||
| 77 | $ASML | ASML HOLDING NV | Technology | $1.5M | 0.1% | 734 | +0.3% | |||
| 78 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $1.4M | 0.1% | 2,838 | +29% | |||
| 79 | $ATI | ATI INC | Materials | $1.4M | 0.1% | 7,158 | -4% | |||
| 80 | $APO | Apollo Global Management, Inc. | Financials | $1.4M | 0.1% | 12K | +6% | |||
| 81 | — | Financial Select Sector SPDR E - Com | — | $1.3M | 0.1% | 24K | — | |||
| 82 | — | iShares Russell 2000 Growth - Com | — | $1.2M | 0.1% | 3,132 | — | |||
| 83 | $JNJ | JOHNSON & JOHNSON | Healthcare | $1.2M | 0.1% | 4,776 | +3% | |||
| 84 | $MRK | Merck & Co., Inc. | Healthcare | $1.2M | 0.1% | 9,062 | +3% | |||
| 85 | — | Vanguard Communication SVCS ET - Com | — | $1.1M | 0.1% | 6,200 | — | |||
| 86 | $WMT | Walmart Inc. | Consumer Staples | $1.1M | 0.1% | 9,601 | +9% | |||
| 87 | $ETN | Eaton Corp plc | Industrials | $1.0M | 0.1% | 2,446 | +13% | |||
| 88 | — | Vanguard Mid-Cap ETF - Com | — | $1.0M | 0.1% | 13K | +300% | |||
| 89 | $PLTR | Palantir Technologies Inc. | Technology | $1.0M | 0.1% | 8,758 | -0.6% | |||
| 90 | — | iShares Russell 2000 Value - Com | — | $1.0M | 0.1% | 4,604 | — | |||
| 91 | — | Nuveen ESG Large Cap Value - Com | — | $950K | 0.1% | 19K | +0.4% | |||
| 92 | — | Simplify Managed Futures ETF - Com | — | $930K | 0.1% | 36K | +48% | |||
| 93 | $MRVL | Marvell Technology, Inc. | Technology | $894K | 0.1% | 3,001 | -4% | |||
| 94 | $CRM | Salesforce, Inc. | Technology | $876K | 0.1% | 5,594 | +5% | |||
| 95 | $TDG | TransDigm Group INC | Industrials | $871K | 0.1% | 654 | +0.3% | |||
| 96 | $AMAT | APPLIED MATERIALS INC /DE | Technology | $865K | 0.1% | 1,197 | +10% | |||
| 97 | — | iShares Edge MSCI Min Vol USA - Com | — | $839K | 0.1% | 8,694 | — | |||
| 98 | $BLK | BlackRock, Inc. | Financials | $805K | 0.1% | 837 | +0.2% | |||
| 99 | $PG | PROCTER & GAMBLE Co | Consumer Staples | $803K | 0.1% | 5,473 | +2% | |||
| 100 | — | State Street Comm Svcs Select - Com | — | $784K | 0.1% | 7,317 | — | |||
| 101 | — | Vanguard Index Growth - Com | — | $776K | 0.1% | 9,012 | +481% | |||
| 102 | $MA | Mastercard Inc | Financials | $732K | 0.1% | 1,425 | +3% | |||
| 103 | $MDLZ | Mondelez International, Inc. | Consumer Staples | $705K | 0.1% | 12K | +0.6% | |||
| 104 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | $684K | 0.1% | 2,434 | +21% | |||
| 105 | $ITW | ILLINOIS TOOL WORKS INC | Industrials | $683K | 0.1% | 2,527 | +0.8% | |||
| 106 | $CAT | CATERPILLAR INC | Industrials | $640K | 0.1% | 601 | +2% | |||
| 107 | $MDY | SPDR S&P MIDCAP 400 ETF TRUST | — | $624K | 0.1% | 887 | — | |||
| 108 | $MGEE | MGE ENERGY INC | Utilities | $608K | 0.1% | 7,458 | — | |||
| 109 | $MO | ALTRIA GROUP, INC. | Consumer Staples | $603K | 0.1% | 8,384 | +0.9% | |||
| 110 | $CMI | CUMMINS INC | Industrials | $596K | 0.1% | 835 | +1% | |||
| 111 | — | Vanguard Index Value - Com | — | $586K | 0.1% | 2,689 | — | |||
| 112 | $GE | GENERAL ELECTRIC CO | Industrials | $586K | 0.1% | 1,568 | +32% | |||
| 113 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $570K | 0.0% | 1,617 | +2% | |||
| 114 | $CTAS | CINTAS CORP | Consumer Discretionary | $570K | 0.0% | 3,351 | +17% | |||
| 115 | $WEYS | WEYCO GROUP INC | Consumer Discretionary | $557K | 0.0% | 14K | — | |||
| 116 | $SLV | iShares Silver Trust | Financials | $552K | 0.0% | 10K | — | |||
| 117 | $ABT | ABBOTT LABORATORIES | Healthcare | $543K | 0.0% | 5,988 | +3% | |||
| 118 | $ISRG | INTUITIVE SURGICAL INC | Healthcare | $540K | 0.0% | 1,358 | +1% | |||
| 119 | — | iShares MSCI EAFE ETF - Com | — | $533K | 0.0% | 5,128 | — | |||
| 120 | $PEP | PEPSICO INC | Consumer Staples | $519K | 0.0% | 3,836 | +0.7% | |||
| 121 | $CVX | CHEVRON CORP | Energy | $509K | 0.0% | 3,069 | +12% | |||
| 122 | $SO | SOUTHERN CO | Utilities | $508K | 0.0% | 5,311 | +1.0% | |||
| 123 | $AXP | AMERICAN EXPRESS CO | Financials | $499K | 0.0% | 1,475 | +0.2% | |||
| 124 | — | Vanguard Information Technolog - Com | — | $496K | 0.0% | 4,152 | +700% | |||
| 125 | $LNT | ALLIANT ENERGY CORP | Utilities | $495K | 0.0% | 6,491 | +19% | |||
| 126 | $BMO | BANK OF MONTREAL /CAN/ | Financials | $492K | 0.0% | 2,785 | — | |||
| 127 | $TTEK | TETRA TECH INC | Technology | $486K | 0.0% | 17K | — | |||
| 128 | $ACN | Accenture plc | Technology | $485K | 0.0% | 3,896 | +0.2% | |||
| 129 | $TEL | TE Connectivity plc | Technology | $479K | 0.0% | 2,375 | — | |||
| 130 | $MU | MICRON TECHNOLOGY INC | Technology | $478K | 0.0% | 414 | New | |||
| 131 | $V | VISA INC. | Financials | $471K | 0.0% | 1,374 | +12% | |||
| 132 | — | Vanguard FTSE Developed Market - Com | — | $468K | 0.0% | 6,562 | — | |||
| 133 | $AMP | AMERIPRISE FINANCIAL INC | Financials | $466K | 0.0% | 1,015 | — | |||
| 134 | $PH | Parker-Hannifin Corp | Industrials | $460K | 0.0% | 470 | — | |||
| 135 | — | Ishares Tr Global Tech ETF - Com | — | $454K | 0.0% | 3,143 | — | |||
| 136 | — | iShares MSCI ACWI ex US - Com | — | $449K | 0.0% | 5,905 | — | |||
| 137 | $MS | MORGAN STANLEY | Financials | $444K | 0.0% | 2,126 | +2% | |||
| 138 | $WWD | Woodward, Inc. | Technology | $425K | 0.0% | 1,000 | — | |||
| 139 | $DUK | Duke Energy CORP | Utilities | $420K | 0.0% | 3,321 | +8% | |||
| 140 | $AON | Aon plc | Financials | $412K | 0.0% | 1,242 | -10% | |||
| 141 | $MCK | MCKESSON CORP | Consumer Staples | $403K | 0.0% | 533 | +2% | |||
| 142 | $UNP | UNION PACIFIC CORP | Industrials | $391K | 0.0% | 1,437 | +1% | |||
| 143 | — | Global X US Infr Dev ETF - Com | — | $388K | 0.0% | 6,591 | +22% | |||
| 144 | $WM | WASTE MANAGEMENT INC | Utilities | $376K | 0.0% | 1,685 | +2% | |||
| 145 | $GS | GOLDMAN SACHS GROUP INC | Financials | $375K | 0.0% | 371 | — | |||
| 146 | $GEV | GE Vernova Inc. | Industrials | $363K | 0.0% | 309 | +20% | |||
| 147 | $PHM | PULTEGROUP INC/MI/ | Industrials | $360K | 0.0% | 2,626 | +0.8% | |||
| 148 | — | State Street Utilities Select - Com | — | $358K | 0.0% | 7,904 | — | |||
| 149 | $ROK | ROCKWELL AUTOMATION, INC | Industrials | $352K | 0.0% | 712 | +9% | |||
| 150 | $OKLO | Oklo Inc. | Utilities | $348K | 0.0% | 6,650 | — |
What changed in Q2 2026
Against the previous quarter's 13F: 14 new, 113 added to, 25 trimmed, 5 sold out. Share-count changes; largest moves by dollar size first.
New positions (14)
$HWMHowmet Aerospace Inc.$2.1M
first bought this quarter
$MUMICRON TECHNOLOGY INC$478K
first bought this quarter
$INTCINTEL CORP$342K
first bought this quarter
$STXSeagate Technology Holdings plc$310K
first bought this quarter
$TSMTAIWAN SEMICONDUCTOR MANUFACTURING CO LTD$271K
first bought this quarter
$CVSCVS HEALTH Corp$239K
first bought this quarter
+8 more in the Excel export
Added to (113)
- iShares Russell 1000 Growth ET - Com+299%
now $90.9M
- iShares S&P 500 Core - Com+33%
now $6.5M
- iShares Core US Aggregate Bond - Com+3%
now $38.5M
- Return Stacked Global Stocks & - Com+51%
now $3.6M
- iShares Core MSCI EAFE ETF - Com+0.7%
now $151.4M
- Vanguard Short-Term Inflation - Com+13%
now $7.5M
+107 more in the Excel export
Trimmed (25)
now $21.5M · held 9+ qtrs
- Vanguard Total Stock Market ET - Com-0.3%
now $294.1M
now $14.1M · held 9+ qtrs
$WTRGEssential Utilities, Inc.-58%
now $230K · held 2 qtrs
$MCDMCDONALDS CORP-46%
now $232K · held 9+ qtrs, 3 trims in a row
now $15.6M · held 9+ qtrs
+19 more in the Excel export
Holdings by quarter
Every 13F FIRST BUSINESS FINANCIAL SERVICES, INC. has filed, 40 earlier quarters. Pick one to see what it held then.
Is it too late to follow FIRST BUSINESS FINANCIAL SERVICES?
Q2 2026 13F filed with the SEC on Jul 28, 2026. Prices are closing prices as of Oct 27, 2026.
Average quality of FIRST BUSINESS FINANCIAL SERVICES's top 20 holdings: 75/100 (our AI quality score, weighted by position size; 19 of the 20 are scored)
Top 10 since filing
+1.0%
Value-weighted move of the 10 largest stock positions
Turnover
0%
Last quarter; 2% over the last 4
Top 10 weight
69%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
97%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q2 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
FIRST BUSINESS FINANCIAL SERVICES, INC. disclosed 201 positions worth $1.3B in its Form 13F-HR for Q2 2026. During the quarter the fund opened 14 new positions and exited 5 — including a new stake in $HWM and a full exit from $SIVR. The portfolio is most concentrated in Other (73.6% of disclosed assets). All figures are sourced directly from FIRST BUSINESS FINANCIAL SERVICES, INC.’s Form 13F-HR filing with the SEC under CIK 1521951.
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