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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
(+1.7%)
Cap. Flow
-$26.3M
Cap. Flow
% of AUM
-3.24%
Top 10 Holdings %
Top 10 Hldgs %
77.08%
Holding
180
New
12
Increased
55
Reduced
38
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IQVIA
IQV
|
+$1.63M |
| 2 |
Corteva
CTVA
|
+$1.38M |
| 3 |
EOG Resources
EOG
|
+$1.08M |
| 4 |
Quanta Services
PWR
|
+$797K |
| 5 |
Ciena
CIEN
|
+$786K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Real Estate ETF
VNQ
|
+$16M |
| 2 |
Vanguard Morningstar Total Stock Market ETF
VTI
|
+$3.73M |
| 3 |
iShares Core US Aggregate Bond ETF
AGG
|
+$1.66M |
| 4 |
iShares Core MSCI EAFE ETF
IEFA
|
+$1.63M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
151
AT&T
T
$162B
| $223K | 0.03% |
13,996
-1,625
| -10% | -$27.7K |
|
152
Cummins
CMI
$88.7B
| $222K | 0.03% |
904
| – | – |
|
153
Danaher
DHR
$141B
| $221K | 0.03% |
1,039
+20
| +2% | +$4.23K |
|
154
McKesson
MCK
$102B
| $217K | 0.03% |
+508
| New | +$195K |
|
155
Verizon
VZ
$195B
| $211K | 0.03% |
5,685
-452
| -7% | -$16.7K |
|
156
Phillips 66
PSX
$82.4B
| $209K | 0.03% |
2,196
-200
| -8% | -$19.4K |
|
157
Valero Energy
VLO
$87.2B
| $207K | 0.03% |
1,761
-234
| -12% | -$27.2K |
|
158
Synopsys
SNPS
$77.7B
| $206K | 0.03% |
+473
| New | +$191K |
|
159
Automatic Data Processing
ADP
$109B
| $205K | 0.03% |
931
| – | – |
|
|
B
160
Barrick Mining
B
$69.3B
| $186K | 0.02% |
11,000
| – | – |
|
161
Palantir
PLTR
$375B
| $166K | 0.02% |
10,811
| – | – |
|
|
AFIB
162
DELISTED
Acutus Medical Inc
AFIB
| $8.88K | ﹤0.01% |
10,000
| – | – |
|
|
FATH
163
DELISTED
Fathom Digital Manufacturing Corporation
FATH
| $4.06K | ﹤0.01% |
+500
| New | +$4.54K |
|
164
Alibaba
BABA
$304B
| – | – |
-2,269
| Closed | -$232K |
|
165
Bank of Montreal
BMO
$127B
| – | – |
-2,713
| Closed | -$242K |
|
166
Devon Energy
DVN
$49.7B
| – | – |
-15,828
| Closed | -$801K |
|
167
iShares Select Dividend ETF
DVY
$23.5B
| – | – |
-3,022
| Closed | -$354K |
|
168
iShares MSCI EAFE ETF
EFA
$79.4B
| – | – |
-2,926
| Closed | -$209K |
|
169
Moderna
MRNA
$21.5B
| – | – |
-1,341
| Closed | -$206K |
|
170
Micron Technology
MU
$996B
| – | – |
-16,105
| Closed | -$972K |
|
171
NMI Holdings
NMIH
$3.31B
| – | – |
-11,604
| Closed | -$259K |
|
172
Rio Tinto
RIO
$162B
| – | – |
-19,969
| Closed | -$1.37M |
|
173
Thermo Fisher Scientific
TMO
$214B
| – | – |
-358
| Closed | -$206K |
|
174
Thomson Reuters
TRI
$43.7B
| – | – |
-5,297
| Closed | -$726K |
|
|
175
Vanguard Real Estate ETF
VNQ
$38.8B
| – | – |
-193,195
| Closed | -$16M |
|
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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.