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FBFS

First Business Financial Services Portfolio holdings

AUM $1.12B
1-Year Est. Return 22.16%
This Fund
S&P 500
This Quarter Est. Return
+7.98%
1 Year Est. Return
+22.16%
3 Year Est. Return
+59.84%
5 Year Est. Return
+59.27%
10 Year Est. Return
+176.73%
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 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
VTI icon
1
Vanguard Total Stock Market ETF
VTI
$654B
$265M 24.3%
807,129
-94,933
-11% -$30M
IEFA icon
2
iShares Core MSCI EAFE ETF
IEFA
$186B
$133M 12.18%
1,520,975
-182,030
-11% -$15.5M
IWF icon
3
iShares Russell 1000 Growth ETF
IWF
$122B
$88M 8.07%
751,072
-70,508
-9% -$7.85M
IJR icon
4
iShares Core S&P Small-Cap ETF
IJR
$109B
$59.3M 5.44%
499,418
-63,323
-11% -$7.28M
DGRO icon
5
iShares Core Dividend Growth ETF
DGRO
$42.6B
$56.1M 5.15%
824,026
-113,024
-12% -$7.47M
IWD icon
6
iShares Russell 1000 Value ETF
IWD
$82B
$54M 4.96%
265,429
-29,867
-10% -$5.94M
IJH icon
7
iShares Core S&P Mid-Cap ETF
IJH
$123B
$46M 4.22%
704,170
-85,948
-11% -$5.52M
AGG icon
8
iShares Core US Aggregate Bond ETF
AGG
$138B
$36.4M 3.34%
363,294
+6,390
+2% +$634K
SPY icon
9
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$29.2M 2.68%
43,791
-204
-0.5% -$131K
FBIZ icon
10
First Business Financial Services
FBIZ
$562M
$19.2M 1.76%
374,233
-20,258
-5% -$1.04M
NVDA icon
11
NVIDIA
NVDA
$5.01T
$17.5M 1.6%
93,654
-8,059
-8% -$1.4M
AAPL icon
12
Apple
AAPL
$4.89T
$14.4M 1.32%
56,477
-3,154
-5% -$713K
AVGO icon
13
Broadcom
AVGO
$1.82T
$12.2M 1.11%
36,835
-3,102
-8% -$952K
JPST icon
14
JPMorgan Ultra-Short Income ETF
JPST
$40B
$10.3M 0.94%
202,797
+5,730
+3% +$290K
JPM icon
15
JPMorgan Chase
JPM
$939B
$9.96M 0.91%
31,583
-2,367
-7% -$704K
MSFT icon
16
Microsoft
MSFT
$2.84T
$9.74M 0.89%
18,803
+680
+4% +$347K
GOOGL icon
17
Alphabet (Google) Class A
GOOGL
$3.91T
$9.33M 0.86%
38,376
-2,372
-6% -$497K
ANET icon
18
Arista Networks
ANET
$219B
$8.32M 0.76%
57,092
-8,784
-13% -$1.13M
CAT icon
19
Caterpillar
CAT
$409B
$7M 0.64%
14,667
– –
PWR icon
20
Quanta Services
PWR
$93.9B
$5.74M 0.53%
13,845
-783
-5% -$304K
MTUM icon
21
iShares MSCI USA Momentum Factor ETF
MTUM
$25.5B
$5.21M 0.48%
20,335
– –
XLK icon
22
State Street Technology Select Sector SPDR ETF
XLK
$115B
$5.14M 0.47%
36,498
– –
MUB icon
23
iShares National Muni Bond ETF
MUB
$45.1B
$4.65M 0.43%
43,656
+614
+1% +$64.3K
DE icon
24
Deere & Co
DE
$170B
$4.59M 0.42%
10,040
– –
BRK.A icon
25
Berkshire Hathaway Class A
BRK.A
$1.07T
$4.53M 0.42%
6
– –
1
2 3 4 5

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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 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.