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FBFS

First Business Financial Services Portfolio holdings

AUM $1.29B
1-Year Est. Return 27.28%
This Fund
S&P 500
This Quarter Est. Return
+5.56%
1 Year Est. Return
+27.28%
3 Year Est. Return
+73.97%
5 Year Est. Return
+72.39%
10 Year Est. Return
+213.72%
AUM
$811M
AUM Growth
+$13.9M
Cap. Flow
-$26.3M
Cap. Flow %
-3.24%
Top 10 Hldgs %
77.08%
Holding
180
New
12
Increased
55
Reduced
38
Closed
13

Top Buys

Rank Stock Value
1
IQV icon
IQVIA
IQV
+$1.63M
2
CTVA icon
Corteva
CTVA
+$1.38M
3
EOG icon
EOG Resources
EOG
+$1.08M
4
PWR icon
Quanta Services
PWR
+$797K
5
CIEN icon
Ciena
CIEN
+$786K

Top Sells

Rank Stock Value
1
VNQ icon
Vanguard Real Estate ETF
VNQ
+$16M
2
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$3.73M
3
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$1.66M
4
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$1.63M
5
MTUM icon
iShares MSCI USA Momentum Factor ETF
MTUM
+$1.48M

Sector Composition

Rank Sector Weight
1 Technology 5.71%
2 Financials 3.17%
3 Healthcare 2.77%
4 Industrials 1.59%
5 Consumer Staples 1.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
76
SPDR Gold Trust
GLD
$141B
$980K 0.12%
5,500
+3,500
+175% +$643K
VO icon
77
Vanguard Morningstar Mid-Cap ETF
VO
$109B
$980K 0.12%
17,804
– –
XLY icon
78
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.3B
$960K 0.12%
11,302
– –
MDLZ icon
79
Mondelez International
MDLZ
$80B
$942K 0.12%
12,911
– –
CVX icon
80
Chevron
CVX
$366B
$886K 0.11%
5,629
-188
-3% -$30.1K
SHEL icon
81
Shell
SHEL
$245B
$841K 0.1%
13,931
+194
+1% +$11.6K
EXPE icon
82
Expedia Group
EXPE
$37.3B
$839K 0.1%
7,673
+99
+1% +$9.7K
XLF icon
83
State Street Financial Select Sector SPDR ETF
XLF
$58.3B
$832K 0.1%
24,684
+650
+3% +$21.2K
ITW icon
84
Illinois Tool Works
ITW
$85.2B
$825K 0.1%
3,298
– –
AMT icon
85
American Tower
AMT
$80.6B
$821K 0.1%
4,235
-3,524
-45% -$689K
C icon
86
Citigroup
C
$226B
$810K 0.1%
17,598
-1,411
-7% -$66.1K
GOOG icon
87
Alphabet (Google) Class C
GOOG
$4.36T
$801K 0.1%
6,620
– –
MDY icon
88
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.3B
$782K 0.1%
1,633
– –
TTEK icon
89
Tetra Tech
TTEK
$9.02B
$766K 0.09%
23,380
– –
IWO icon
90
iShares Russell 2000 Growth ETF
IWO
$15B
$765K 0.09%
3,152
– –
CIEN icon
91
Ciena
CIEN
$57.7B
$733K 0.09%
+17,262
New +$786K
APD icon
92
Air Products & Chemicals
APD
$66.8B
$707K 0.09%
2,360
– –
DOX icon
93
Amdocs
DOX
$6.23B
$696K 0.09%
7,038
– –
INTC icon
94
Intel
INTC
$502B
$680K 0.08%
20,325
-686
-3% -$21.5K
AON icon
95
Aon
AON
$75.9B
$663K 0.08%
1,921
– –
VOX icon
96
Vanguard Communication Services ETF
VOX
$5.78B
$659K 0.08%
6,200
– –
IWN icon
97
iShares Russell 2000 Value ETF
IWN
$14.6B
$656K 0.08%
4,662
– –
ATI icon
98
ATI
ATI
$30.6B
$634K 0.08%
14,325
– –
NKE icon
99
Nike
NKE
$62.2B
$619K 0.08%
5,604
+32
+0.6% +$3.74K
MA icon
100
Mastercard
MA
$496B
$613K 0.08%
1,558
+11
+0.7% +$4.13K
2 3
4
5 6

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First Business Financial Services's Q2 2023 Portfolio in Review

As of Q2 2023, First Business Financial Services held 180 positions worth $811M, up 1.7% from $797M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

First Business Financial Services withdrew a net $26.3M in Q2 2023, closing 13 positions and reducing 38 holdings. Its most notable exit was Vanguard Real Estate ETF, an estimated $16M position sold in full.

By sector, the portfolio is most concentrated in Technology at 5.7% of assets, up from 5.2% a quarter earlier, followed by Financials and Healthcare.

Against the trend, First Business Financial Services opened a new position in IQVIA worth $1.83M.

  • First Business Financial Services's largest Q2 2023 buy was IQVIA: 8,122 shares worth $1.83M.
  • First Business Financial Services added most to Quanta Services in Q2 2023, an estimated $797K increase.
  • First Business Financial Services's biggest Q2 2023 reduction was Vanguard Morningstar Total Stock Market ETF, cutting an estimated $3.73M.
  • First Business Financial Services fully exited Vanguard Real Estate ETF in Q2 2023, selling an estimated $16M.
  • First Business Financial Services's ten largest holdings make up 77% of its $811M portfolio in Q2 2023.
  • First Business Financial Services opened 12 new positions and closed 13 in Q2 2023.
  • First Business Financial Services's portfolio value rose 1.7% quarter-over-quarter to $811M.

Based on First Business Financial Services's 13F filing for Q2 2023, filed 7 Aug 2023.