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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
+7.98%
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
$1.09B
AUM Growth
-$18.8M
Cap. Flow
-$96.9M
Cap. Flow %
-8.89%
Top 10 Hldgs %
72.09%
Holding
194
New
9
Increased
17
Reduced
74
Closed
9

Top Buys

Rank Stock Value
1
AEP icon
American Electric Power
AEP
+$1.16M
2
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$634K
3
MSFT icon
Microsoft
MSFT
+$347K
4
NFLX icon
Netflix
NFLX
+$338K
5
AMZN icon
Amazon
AMZN
+$308K

Top Sells

Rank Stock Value
1
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$30M
2
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$15.5M
3
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$7.85M
4
DGRO icon
iShares Core Dividend Growth ETF
DGRO
+$7.47M
5
IJR icon
iShares Core S&P Small-Cap ETF
IJR
+$7.28M

Sector Composition

Rank Sector Weight
1 Technology 8.01%
2 Financials 4.98%
3 Industrials 3%
4 Communication Services 1.94%
5 Healthcare 1.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRK icon
101
Merck
MRK
$318B
$741K 0.07%
8,824
-227
-3% -$18.7K
ABT icon
102
Abbott
ABT
$187B
$729K 0.07%
5,443
– –
HD icon
103
Home Depot
HD
$355B
$727K 0.07%
1,795
– –
VUG icon
104
Vanguard Morningstar Growth ETF
VUG
$231B
$720K 0.07%
9,012
– –
ASML icon
105
ASML
ASML
$669B
$713K 0.07%
737
– –
PEP icon
106
PepsiCo
PEP
$190B
$708K 0.07%
5,042
+60
+1% +$8.57K
GLW icon
107
Corning
GLW
$143B
$687K 0.06%
8,369
– –
SO icon
108
Southern Company
SO
$107B
$685K 0.06%
7,225
+175
+2% +$16.3K
MCD icon
109
McDonald's
MCD
$195B
$677K 0.06%
2,229
– –
PNC icon
110
PNC Financial Services
PNC
$101B
$671K 0.06%
3,341
– –
PLOW icon
111
Douglas Dynamics
PLOW
$1.02B
$625K 0.06%
20,000
– –
TEL icon
112
TE Connectivity
TEL
$62.6B
$615K 0.06%
2,800
– –
TRI icon
113
Thomson Reuters
TRI
$44.1B
$612K 0.06%
3,881
– –
ATI icon
114
ATI
ATI
$31B
$609K 0.06%
7,484
– –
TTEK icon
115
Tetra Tech
TTEK
$9.07B
$586K 0.05%
17,555
– –
AMD icon
116
Advanced Micro Devices
AMD
$789B
$572K 0.05%
3,536
– –
ISRG icon
117
Intuitive Surgical
ISRG
$134B
$559K 0.05%
1,251
– –
USB icon
118
US Bancorp
USB
$99.6B
$549K 0.05%
11,368
-263
-2% -$12.4K
IBM icon
119
IBM
IBM
$224B
$547K 0.05%
1,938
-175
-8% -$45.8K
MDY icon
120
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.3B
$529K 0.05%
887
– –
SLV icon
121
iShares Silver Trust
SLV
$30.7B
$518K 0.05%
12,230
– –
ORCL icon
122
Oracle
ORCL
$423B
$510K 0.05%
1,814
– –
MA icon
123
Mastercard
MA
$493B
$503K 0.05%
885
– –
VTV icon
124
Vanguard Morningstar Value ETF
VTV
$191B
$501K 0.05%
2,689
– –
AMP icon
125
Ameriprise Financial
AMP
$48.8B
$499K 0.05%
1,015
-78
-7% -$40K
3 4
5
6 7

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First Business Financial Services's Q3 2025 Portfolio in Review

As of Q3 2025, First Business Financial Services held 194 positions worth $1.09B, down 1.7% from $1.11B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

First Business Financial Services withdrew a net $96.9M in Q3 2025, closing 9 positions and reducing 74 holdings. Its most notable exit was Adobe, an estimated $1.34M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8% of assets, up from 7.3% a quarter earlier, followed by Financials and Industrials.

Against the trend, First Business Financial Services opened a new position in American Electric Power worth $1.19M.

  • First Business Financial Services's largest Q3 2025 buy was American Electric Power: 10,599 shares worth $1.19M.
  • First Business Financial Services added most to iShares Core US Aggregate Bond ETF in Q3 2025, an estimated $634K increase.
  • First Business Financial Services's biggest Q3 2025 reduction was Vanguard Morningstar Total Stock Market ETF, cutting an estimated $30M.
  • First Business Financial Services fully exited Adobe in Q3 2025, selling an estimated $1.34M.
  • First Business Financial Services's ten largest holdings make up 72% of its $1.09B portfolio in Q3 2025.
  • First Business Financial Services opened 9 new positions and closed 9 in Q3 2025.
  • First Business Financial Services's portfolio value fell 1.7% quarter-over-quarter to $1.09B.

Based on First Business Financial Services's 13F filing for Q3 2025, filed 30 Oct 2025.