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First Business Financial Services, Inc.

CIK 1521951 · latest 13F filed 28 July 2026 · Read the filing on EDGAR

First Business Financial Services, Inc. reported 201 US-listed holdings worth $1.29 billion in its 13F for the quarter ended 30 June 2026, filed 28 July 2026. Its largest: VG Totl STK Vprs (22.8%), iShares Core MSCI Eafe ETF (11.7%) and iShares Trust (7.0%). Against the quarter before, it opened 15 positions, added to 113, trimmed 24 and sold out of 6.

Reported holdings$1.29B+14.6% on Q1 2026
Positions201+9 on Q1 2026
The largest ten68.7%of its reported holdings
Latest 13FQ2 2026filed 28 July 2026
Where the money is
Added toTrimmed
VTI22.8%IEFA11.7%IWF7.0%IJR5.8%IWD5.0%DGRO4.9%IJH4.3%AGG3.0%SPY2.5%FBIZ1.7%NVDA1.6%JPST1.4%AAPL1.3%187 more25.7%

The 14 largest of its 201 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q3 2024: $999.2 million in 159 positions$999MQ3 24Q4 2024: $1.01 billion in 162 positions$1.01BQ4 24Q1 2025: $1.02 billion in 170 positions$1.02BQ1 25Q2 2025: $1.11 billion in 185 positions$1.11BQ2 25Q3 2025: $1.09 billion in 185 positions$1.09BQ3 25Q4 2025: $1.09 billion in 168 positions$1.09BQ4 25Q1 2026: $1.12 billion in 192 positions$1.12BQ1 26Q2 2026: $1.29 billion in 201 positions$1.29BQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What it did on the quarter

Opened 15Added 113Held 49Trimmed 24Sold out 6
Opened: 15Added: 113Held: 49Trimmed: 24Sold out: 6

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 15

  1. Howmet Aerospace Inc. HWM$2.1 million
  2. Micron Technology Inc. MU$477,876
  3. Intel Corp. INTC$342,094
  4. Thomson Reuters Corporation TRI$321,943
  5. Seagate Technology Holdings plc STX$309,765
  6. Taiwan Semiconductor Manufacturing Company Limited TSM$270,782
  7. CVS Health Corp. CVS$239,176
  8. Keycorp KEY$225,683

and 7 more in the table below

Added to 113

  1. iShares Trust IWF+548,576 shares · +299%
  2. iShares Core S&P 500 ETF IVV+2,165 shares · +33%
  3. iShares Trust AGG+12,940 shares · +3%
  4. Return Stacked Global Stocks & Bonds ETF RSSB+39,900 shares · +51%
  5. iShares Core MSCI Eafe ETF IEFA+11,532 shares · +1%
  6. Vanguard Shrt-Term Infl-Prot Se VTIP+17,349 shares · +13%
  7. Vanguard Mid Cap Index ETF VO+9,615 shares · +300%
  8. Lam Research Corp. LRCX+1,674 shares · +5%

and 105 more in the table below

Trimmed 24

  1. First Business Finl Svcs Inc. FBIZ-21,122 shares · -6%
  2. VG Totl STK Vprs VTI-2,334 shares · -0%
  3. Ciena Corp. CIEN-1,242 shares · -4%
  4. Essential Utilities, Inc. WTRG-8,146 shares · -58%
  5. McDonald's Corp. MCD-733 shares · -46%
  6. Broadcom Inc. AVGO-399 shares · -1%
  7. Corning Inc. GLW-424 shares · -5%
  8. iShares Russell 1000 Value Inde IWD-371 shares · -0%

and 16 more in the table below

Sold out of 6

  1. Thomson Reuters Corporation TRI$354,701 last quarter
  2. Abrdn Silver ETF Trust SIVR$226,288 last quarter
  3. Walt Disney Co. DIS$219,843 last quarter
  4. Shell plc SHEL$209,901 last quarter
  5. Under Armour, Inc. UA$115,800 last quarter
  6. Denison Mines Corp. DNN$35,300 last quarter

What it holds

CompanySharesValueOf its bookChange in shares
VG Totl STK Vprs VTI794,853$294.1 million22.81%-2,334
iShares Core MSCI Eafe ETF IEFA1,567,578$151.4 million11.74%+11,532
iShares Trust IWF731,884$90.9 million7.05%+548,576
iShares Core S&P Small-Cap ETF IJR502,002$74.5 million5.77%+1,061
iShares Russell 1000 Value Inde IWD265,835$64.4 million5.00%-371
iShares Core Dividend Growth DGRO839,061$63.6 million4.93%+3,906
iShares Core S&P Mid-Cap ETF IJH711,692$54.9 million4.26%+4,158
iShares Trust AGG388,636$38.5 million2.98%+12,940
SPDR S&P 500 SPY43,684$32.6 million2.53%-70
First Business Finl Svcs Inc. FBIZ340,189$21.5 million1.67%-21,122
NVIDIA Corp. NVDA102,546$20.5 million1.59%+2,596
JP Morgan Ultra Short Income Et JPST363,803$18.4 million1.43%+14,100
Apple Inc. AAPL59,954$17.3 million1.35%+485
Broadcom Inc. AVGO41,248$15.6 million1.21%-399
Alphabet Inc. GOOGL43,589$15.6 million1.21%+1,428
Ciena Corp. CIEN28,808$14.1 million1.10%-1,242
Lam Research Corp. LRCX32,515$14.1 million1.09%+1,674
JPMorgan Chase & Co. JPM36,121$11.8 million0.92%+781
Arista Networks, Inc. ANET68,750$11.7 million0.91%+2,577
Quanta Services, Inc. PWR15,594$11.2 million0.87%+67
Eli Lilly & Co. LLY6,642$8.0 million0.62%+226
Vanguard Shrt-Term Infl-Prot Se VTIP150,171$7.5 million0.59%+17,349
iShares Trust MTUM20,335$7.0 million0.54%no change
Microsoft Corp. MSFT18,644$7.0 million0.54%+597
Technology Select Sector SPDR ETF XLK36,498$7.0 million0.54%no change
iShares Core S&P 500 ETF IVV8,639$6.5 million0.50%+2,165
iShares Trust MUB54,736$5.9 million0.46%+1,756
Citigroup Inc. C41,453$5.8 million0.45%+1,402
Analog Devices Inc. ADI13,874$5.5 million0.43%+500
Bank of America Corp. BAC80,030$4.6 million0.35%+2,380
Nucor Corp. NUE20,457$4.6 million0.35%+812
Cencora, Inc. COR16,022$4.5 million0.35%+681
Berkshire Hathaway Inc. Del6$4.5 million0.35%no change
Costco Wholesale Corp. COST4,723$4.4 million0.34%+74
ExxonMobil Holdings Corp. XOM30,811$4.2 million0.33%+1,565
Texas Instruments Inc. TXN13,969$4.2 million0.32%+373
General Dynamics Corp. GD10,301$3.6 million0.28%+439
Cisco Systems, Inc. CSCO31,038$3.6 million0.28%-12
Return Stacked Global Stocks & Bonds ETF RSSB118,108$3.6 million0.28%+39,900
Equinix Inc. EQIX3,418$3.6 million0.28%+121
Expedia Group, Inc. EXPE12,670$3.2 million0.25%+468
Coca-Cola Co. KO39,772$3.2 million0.25%+1,006
Stryker Corp. SYK10,025$3.2 million0.24%+360
Republic Services, Inc. RSG14,459$3.1 million0.24%+231
Prudential Financial Inc. PRU28,540$3.1 million0.24%+494
Amazon.com Inc. AMZN12,887$3.1 million0.24%+521
TJX Companies Inc. TJX20,159$3.1 million0.24%+688
NextEra Energy Inc. NEE34,658$3.0 million0.24%+1,334
Toll Brothers, Inc. TOL18,086$3.0 million0.23%+1,103
T-Mobile US, Inc. TMUS17,473$2.9 million0.23%+569
Electronic Arts Inc EA14,127$2.9 million0.22%-63
Select Sector SPDR Trust XLE54,244$2.9 million0.22%no change
Select Sector SPDR Trust XLI14,013$2.6 million0.20%no change
Meta Platforms, Inc. META4,553$2.6 million0.20%+232
Alphabet Inc. GOOG7,019$2.5 million0.19%+135
Darden Restaurants Inc. DRI11,096$2.3 million0.18%+412
Oshkosh Corp. OSK14,778$2.3 million0.18%+709
Intercontinental Exchange, Inc. ICE17,807$2.2 million0.17%+530
Corning Inc. GLW8,538$2.2 million0.17%-424
Lowe's Companies Inc. LOW9,726$2.1 million0.17%+371
Advanced Micro Devices Inc. AMD3,600$2.1 million0.16%+94
Howmet Aerospace Inc. HWM7,638$2.1 million0.16%new
Qualcomm Inc. QCOM10,546$1.9 million0.15%+418
Philip Morris International Inc. PM10,548$1.9 million0.15%+90
American Electric Power Co. Inc. AEP13,845$1.9 million0.15%+818
SLB Limited SLB40,368$1.9 million0.15%+1,589
IQVIA Holdings Inc. IQV9,340$1.8 million0.14%+376
AbbVie Inc. ABBV7,047$1.8 million0.14%-119
iShares Trust IWB4,244$1.7 million0.13%no change
Netflix Inc. NFLX22,065$1.6 million0.12%+939
SPDR Gold Trust GLD4,247$1.6 million0.12%no change
Vanguard Small Cap ETF VB5,070$1.5 million0.12%no change
Kroger Co. KR27,577$1.5 million0.12%+1,228
Select Sector SPDR Trust XLY12,902$1.5 million0.12%no change
Colgate-Palmolive Co. CL16,294$1.5 million0.12%+1,183
iShares Russell 2000 ETF IWM4,950$1.5 million0.12%no change
ASML Holding N.V. ASML734$1.5 million0.11%+2
Berkshire Hathaway Inc. Class B BRKB2,838$1.4 million0.11%+639
ATI Inc. ATI7,158$1.4 million0.11%-326
Apollo Global Management, Inc. APO11,607$1.4 million0.11%+705
Financial Select Sector SPDR ETF XLF24,095$1.3 million0.10%no change
iShares Trust IWO3,132$1.2 million0.10%no change
Johnson & Johnson JNJ4,776$1.2 million0.09%+129
Merck & Co., Inc. MRK9,062$1.2 million0.09%+258
Vanguard World FD VOX6,200$1.1 million0.09%no change
Walmart Inc. WMT9,601$1.1 million0.08%+787
Eaton Corp. plc ETN2,446$1.0 million0.08%+273
Vanguard Mid Cap Index ETF VO12,820$1.0 million0.08%+9,615
Palantir Technologies Inc. PLTR8,758$1.0 million0.08%-57
iShares Trust IWN4,604$1.0 million0.08%no change
Nushares ETF Trust NULV19,006$950,1100.07%+75
Simplify Exchange Traded Fun CTA35,851$929,9750.07%+11,672
Marvell Technology, Inc. MRVL3,001$893,9680.07%-112
Salesforce, Inc. CRM5,594$876,3560.07%+285
TransDigm Group Inc. TDG654$871,1540.07%+2
Applied Materials Inc. AMAT1,197$865,4310.07%+108
iShares Edge MSCI Min Vol USA ETF USMV8,694$838,6230.07%no change
BlackRock, Inc. BLK837$804,8260.06%+2
Procter & Gamble Co. PG5,473$802,5610.06%+113
Select Sector SPDR Trust XLC7,317$783,8700.06%no change
Vanguard Growth ETF VUG9,012$776,2940.06%+7,462
Mastercard Inc. MA1,425$731,8800.06%+43
Mondelez International, Inc. MDLZ12,191$705,1270.05%+73
International Business Machines Corp. IBM2,434$684,4650.05%+430
Illinois Tool Works Inc. ITW2,527$683,4780.05%+21
Caterpillar Inc. CAT601$640,0050.05%+12
SPDR S&P MidCap 400 ETF MDY887$623,8630.05%no change
MGE Energy Inc. MGEE7,458$608,1250.05%no change
Altria Group, Inc. MO8,384$603,2290.05%+78
Cummins Inc. CMI835$595,5300.05%+11
Vanguard Value ETF VTV2,689$586,0140.05%no change
General Electric Co. GE1,568$586,0090.05%+379
Home Depot, Inc. HD1,617$570,2840.04%+27
Cintas Corp. CTAS3,351$569,9380.04%+484
Weyco Group Inc. WEYS14,156$556,7550.04%no change
iShares Silver Trust SLV10,330$552,3450.04%no change
Abbott Laboratories ABT5,988$543,3510.04%+170
Intuitive Surgical Inc. ISRG1,358$540,0490.04%+18
iShares Trust EFA5,128$532,6970.04%no change
PepsiCo Inc. PEP3,836$519,3940.04%+27
Chevron Corp. CVX3,069$508,7170.04%+338
Southern Co. SO5,311$508,3160.04%+50
American Express Co. AXP1,475$498,9190.04%+3
Vanguard World FD VGT4,152$496,2470.04%+3,633
Alliant Energy Corp. LNT6,491$495,1980.04%+1,047
Bank of Montreal BMO2,785$492,1100.04%no change
Tetra Tech Inc. TTEK16,820$485,9300.04%no change
Accenture plc ACN3,896$484,8180.04%+7
TE Connectivity plc TEL2,375$478,8240.04%no change
Micron Technology Inc. MU414$477,8760.04%new
Visa Inc. V1,374$471,4060.04%+147
Vanguard Ftse Developed Markets VEA6,562$467,5430.04%no change
Ameriprise Financial Inc. AMP1,015$465,6410.04%no change
Parker-Hannifin Corp. PH470$459,7160.04%no change
iShares Trust IXN3,143$454,1010.04%no change
iShares Trust ACWX5,905$449,4300.03%no change
Morgan Stanley MS2,126$444,4190.03%+50
Woodward, Inc. WWD1,000$425,4400.03%no change
Duke Energy Corp. DUK3,321$420,3720.03%+248
Aon plc AON1,242$411,9590.03%-142
McKesson Corp. MCK533$402,7350.03%+10
Union Pacific Corp. UNP1,437$390,8640.03%+15
Global X Infrastr Development ETF (pave) PAVE6,591$388,3420.03%+1,190
Waste Management Inc. WM1,685$375,5530.03%+26
Goldman Sachs Group Inc. GS371$375,2180.03%no change
GE Vernova Inc. GEV309$363,0320.03%+52
PulteGroup Inc. PHM2,626$360,3130.03%+21
Select Sector SPDR Trust XLU7,904$358,3670.03%no change
Rockwell Automation, Inc. ROK712$352,4970.03%+57
Oklo Inc. OKLO6,650$347,9950.03%no change
Hilton Worldwide Holdings Inc. HLT1,045$345,3310.03%+340
Intel Corp. INTC2,450$342,0940.03%new
Xcel Energy Inc. XEL4,178$335,4930.03%-6
SPDR Portfolio Developed World SPDW6,444$324,7130.03%no change
United STS Commodity Index F USCI3,477$322,1090.02%no change
Thomson Reuters Corporation TRI3,942$321,9430.02%new
UnitedHealth Group Inc. UNH771$320,4510.02%+21
Capital One Financial Corp. COF1,573$315,5750.02%+17
Seagate Technology Holdings plc STX321$309,7650.02%new
U.S. Bancorp USB5,053$305,2010.02%no change
Blackstone Inc. BX2,514$295,8220.02%-403
Charles River Laboratories International, Inc. CRL1,300$294,8270.02%no change
Strattec Sec Corp. STRT3,598$293,0570.02%no change
Oracle Corp. ORCL1,993$292,0740.02%+199
Phillips 66 PSX1,725$291,6110.02%+254
Microchip Technology Inc. MCHP3,136$286,0030.02%no change
PNC Financial Services Group, Inc. PNC1,130$278,2290.02%-230
Charles Schwab Corp. SCHW3,014$278,1020.02%+133
Gilead Sciences, Inc. GILD2,201$278,0740.02%+338
Taiwan Semiconductor Manufacturing Company Limited TSM567$270,7820.02%new
iShares S&P Growth Index FD IVW1,863$256,2180.02%-70
Vanguard World FD MGV1,511$246,9730.02%+100
Norfolk Southern Corp. NSC776$244,1220.02%+18
Wisdomtree Trust DGRW2,543$243,1620.02%no change
Goldman Sachs ETF Trust GPIQ4,071$241,4510.02%no change
Fidelity Covington Trust FELG5,500$240,6250.02%-200
Truist Financial Corp. TFC4,818$240,0330.02%+441
CVS Health Corp. CVS2,312$239,1760.02%new
Arthur J. Gallagher & Co. AJG1,037$238,0640.02%no change
First Trust ETFs RDVI8,052$236,7290.02%no change
Thermo Fisher Scientific Inc. TMO467$234,1350.02%-68
Etfs Gold Trust SGOL6,096$233,0500.02%no change
McDonald's Corp. MCD859$232,1960.02%-733
PPL Corp. PPL6,340$230,4590.02%+787
Essential Utilities, Inc. WTRG6,000$229,8600.02%-8,146
iShares Trust IWS1,377$226,6540.02%no change
Goldman Sachs ETF Trust GPIX4,076$226,5030.02%no change
Keycorp KEY9,791$225,6830.02%new
WEC Energy Group, Inc. WEC1,930$225,3660.02%new
Wells Fargo & Company WFC2,715$224,3680.02%new
ServiceNow, Inc. NOW2,210$219,4090.02%-60
Marathon Petroleum Corp. MPC857$219,1090.02%no change
Enbridge Inc ENB3,946$213,9130.02%new
Verizon Communications Inc. VZ5,036$213,2240.02%+516
Chubb Ltd. CB625$212,9630.02%+11
Uber Technologies, Inc. UBER2,922$210,8520.02%new
EOG Resources Inc. EOG1,625$210,8110.02%-304
Simon Property Group Inc. SPG931$208,2180.02%new
Constellation Energy Corp. CEG832$206,6440.02%new
Generac Holdings Inc. GNRC700$204,9670.02%new
Amdocs Ltd DOX4,046$204,4850.02%-404
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 6 it sold out of are in the box above.