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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
AON icon
126
Aon
AON
$76B
$494K 0.05%
1,384
– –
AXP icon
127
American Express
AXP
$230B
$488K 0.04%
1,468
– –
EFA icon
128
iShares MSCI EAFE ETF
EFA
$80.2B
$479K 0.04%
5,128
– –
MO icon
129
Altria Group
MO
$114B
$470K 0.04%
7,116
– –
V icon
130
Visa
V
$677B
$462K 0.04%
1,352
– –
WEYS icon
131
Weyco Group
WEYS
$440M
$426K 0.04%
14,156
+1,060
+8% +$32.7K
CTAS icon
132
Cintas
CTAS
$81.3B
$421K 0.04%
2,052
– –
COF icon
133
Capital One
COF
$134B
$416K 0.04%
1,956
– –
MCK icon
134
McKesson
MCK
$101B
$404K 0.04%
523
– –
DUK icon
135
Duke Energy
DUK
$97.3B
$402K 0.04%
3,248
-90
-3% -$10.9K
VEA icon
136
Vanguard FTSE Developed Markets ETF
VEA
$236B
$390K 0.04%
6,514
– –
WM icon
137
Waste Management
WM
$91B
$388K 0.04%
1,759
– –
VGT icon
138
Vanguard Information Technology ETF
VGT
$149B
$388K 0.04%
4,152
– –
ACWX icon
139
iShares MSCI ACWI ex US ETF
ACWX
$11.8B
$384K 0.04%
5,905
– –
UNP icon
140
Union Pacific
UNP
$174B
$383K 0.04%
1,619
– –
TTC icon
141
Toro Company
TTC
$9.49B
$381K 0.04%
5,000
– –
SCHW
142
Charles Schwab
SCHW
$187B
$375K 0.03%
3,931
– –
NOW icon
143
ServiceNow
NOW
$129B
$371K 0.03%
2,015
– –
DOX icon
144
Amdocs
DOX
$6.22B
$365K 0.03%
4,450
– –
GE icon
145
GE Aerospace
GE
$384B
$359K 0.03%
1,192
– –
PH icon
146
Parker-Hannifin
PH
$135B
$356K 0.03%
470
– –
CMI icon
147
Cummins
CMI
$88.7B
$348K 0.03%
824
– –
XEL icon
148
Xcel Energy
XEL
$48.8B
$348K 0.03%
4,312
+150
+4% +$10.9K
XLU icon
149
State Street Utilities Select Sector SPDR ETF
XLU
$22.5B
$345K 0.03%
7,904
– –
UNH icon
150
UnitedHealth
UNH
$370B
$340K 0.03%
984
-874
-47% -$264K
4 5
6
7 8

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COCM
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ACM
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CTA
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MB
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MCM
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GPCM
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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.