FIRST BUSINESS FINANCIAL SERVICES, INC. — 13F Holdings & Portfolio
CIK 1521951 · latest 13F-HR filed 2026-05-01
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$1.12B
Long-equity book
Holdings
192
Distinct positions
Period
2026-03-31
Filed 2026-05-01
Q/Q Activity
+27 / −3 / ↑64 / ↓49
vs 2025-12-31
Firm Profile & Key People
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- JPMorgan Ultra-Short Income ET$6.7M +60.7%
- Ciena Corp$5.4M +86.6%
- iShares Core S&P Small-Cap ETF$3.1M +5.2%
- Quanta Services Inc$2.6M +43.1%
- Lam Research Corporation$2.0M +43.3%
Top Trims
- iShares Russell 1000 Growth ET-$8.0M -9.3%
- Microsoft Corp-$1.9M -21.9%
- State Street Technology Select-$404.0K -7.7%
- Expedia Group Inc New-$285.8K -9.2%
- Accenture PLC-$270.9K -26.0%
New Positions
- Vanguard Short-Term Inflation$6.6M
- Return Stacked Global Stocks &$2.1M
- Simplify Managed Futures ETF$730.7K
- Essential Utilities, Inc$569.7K
- Blackstone Inc$335.4K
Exited Positions
- Fidelity National Information$263.4K
- Wells Fargo & Co$230.5K
- Exact Sciences Corp$225.0K
All Holdings
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Vanguard Total Stock Market ET | VTI | 922908769 | $255.7M | 22.74% | 797,187 | SH |
| 2 | iShares Core MSCI EAFE ETF | IEFA | 46432F842 | $140.9M | 12.52% | 1,556,046 | SH |
| 3 | iShares Russell 1000 Growth ET | IWF | 464287614 | $78.2M | 6.95% | 183,308 | SH |
| 4 | iShares Core S&P Small-Cap ETF | IJR | 464287804 | $62.3M | 5.54% | 500,941 | SH |
| 5 | iShares Core Dividend Growth | DGRO | 46434V621 | $58.6M | 5.21% | 835,155 | SH |
| 6 | iShares Russell 1000 Value ETF | IWD | 464287598 | $56.9M | 5.06% | 266,206 | SH |
| 7 | iShares Core S&P Mid-Cap ETF | IJH | 464287507 | $47.8M | 4.25% | 707,534 | SH |
| 8 | iShares Core US Aggregate Bond | AGG | 464287226 | $37.3M | 3.32% | 375,696 | SH |
| 9 | State Street SPDR S&P 500 ETF | SPY | 78462F103 | $28.5M | 2.53% | 43,754 | SH |
| 10 | First Business Financial Servi | FBIZ | 319390100 | $19.5M | 1.73% | 361,311 | SH |
| 11 | JPMorgan Ultra-Short Income ET | JPST | 46641Q837 | $17.7M | 1.57% | 349,703 | SH |
| 12 | Nvidia Corp | NVDA | 67066G104 | $17.4M | 1.55% | 99,950 | SH |
| 13 | Apple Inc | AAPL | 037833100 | $15.1M | 1.34% | 59,469 | SH |
| 14 | Broadcom Inc | AVGO | 11135F101 | $12.9M | 1.15% | 41,647 | SH |
| 15 | Alphabet Inc Cap Stk Cl A | GOOGL | 02079K305 | $12.1M | 1.08% | 42,161 | SH |
| 16 | Ciena Corp | CIEN | 171779309 | $11.7M | 1.04% | 30,050 | SH |
| 17 | JPMorgan Chase & Co | JPM | 46625H100 | $10.4M | 0.92% | 35,340 | SH |
| 18 | Quanta Services Inc | PWR | 74762E102 | $8.5M | 0.76% | 15,527 | SH |
| 19 | Arista Networks Inc | ANET | 040413205 | $8.1M | 0.72% | 66,173 | SH |
| 20 | Microsoft Corp | MSFT | 594918104 | $6.7M | 0.59% | 18,047 | SH |
| 21 | Vanguard Short-Term Inflation | VTIP | 922020805 | $6.6M | 0.59% | 132,822 | SH |
| 22 | Lam Research Corporation | LRCX | 512807306 | $6.6M | 0.59% | 30,841 | SH |
| 23 | Lilly Eli Co | LLY | 532457108 | $5.9M | 0.52% | 6,416 | SH |
| 24 | iShares National Muni Bond ETF | MUB | 464288414 | $5.6M | 0.50% | 52,980 | SH |
| 25 | Exxon Mobil Corp | XOM | 30231G102 | $5.0M | 0.44% | 29,246 | SH |
| 26 | iShares Edge MSCI USA Momentum | MTUM | 46432F396 | $4.9M | 0.43% | 20,335 | SH |
| 27 | State Street Technology Select | XLK | 81369Y803 | $4.9M | 0.43% | 36,498 | SH |
| 28 | CENCORA INC | COR | 03073E105 | $4.8M | 0.43% | 15,341 | SH |
| 29 | Costco Wholesale Corp | COST | 22160K105 | $4.6M | 0.41% | 4,649 | SH |
| 30 | Citigroup Inc | C | 172967424 | $4.5M | 0.40% | 40,051 | SH |
| 31 | Berkshire Hathaway Inc Class A | BRK.A | 084670108 | $4.3M | 0.38% | 6 | SH |
| 32 | Analog Devices Inc | ADI | 032654105 | $4.3M | 0.38% | 13,374 | SH |
| 33 | iShares S&P 500 Core | IVV | 464287200 | $4.2M | 0.38% | 6,474 | SH |
| 34 | Bank of America Corp | BAC | 060505104 | $3.8M | 0.34% | 77,650 | SH |
| 35 | T Mobile US Inc | TMUS | 872590104 | $3.6M | 0.32% | 16,904 | SH |
| 36 | General Dynamics Corp | GD | 369550108 | $3.4M | 0.30% | 9,862 | SH |
| 37 | State Street Energy Select Sec | XLE | 81369Y506 | $3.3M | 0.30% | 54,244 | SH |
| 38 | Nucor Corp | NUE | 670346105 | $3.3M | 0.30% | 19,645 | SH |
| 39 | Equinix Inc | EQIX | 29444U700 | $3.2M | 0.29% | 3,297 | SH |
| 40 | Stryker Corp | SYK | 863667101 | $3.2M | 0.28% | 9,665 | SH |
| 41 | Republic Services Inc | RSG | 760759100 | $3.1M | 0.28% | 14,228 | SH |
| 42 | TJX Companies Inc | TJX | 872540109 | $3.1M | 0.28% | 19,471 | SH |
| 43 | Nextera Energy Inc | NEE | 65339F101 | $3.1M | 0.28% | 33,324 | SH |
| 44 | Coca-Cola Co | KO | 191216100 | $2.9M | 0.26% | 38,766 | SH |
| 45 | Electronic Arts Inc | EA | 285512109 | $2.9M | 0.26% | 14,190 | SH |
| 46 | Expedia Group Inc New | EXPE | 30212P303 | $2.8M | 0.25% | 12,202 | SH |
| 47 | Prudential Financial Inc | PRU | 744320102 | $2.7M | 0.24% | 28,046 | SH |
| 48 | Intercontinental Exchange Inc | ICE | 45866F104 | $2.7M | 0.24% | 17,277 | SH |
| 49 | Texas Instruments Inc | TXN | 882508104 | $2.6M | 0.23% | 13,596 | SH |
| 50 | Amazon.com Inc | AMZN | 023135106 | $2.6M | 0.23% | 12,366 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-01 | $1.12B | 192 | 0001140361-26-018481 |
| 2025-12-31 | 2026-02-06 | $1.09B | 168 | 0001140361-26-004002 |