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First Business Financial Services
FBIZ

117 hedge funds and large institutions have $285M invested in First Business Financial Services in 2025 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 43 increasing their positions, 37 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

16% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 37

8% more capital invested

Capital invested by funds: $264M → $285M (+$21.2M)

8% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 13

1% more funds holding

Funds holding: 116 → 117 (+1)

0.2% more ownership

Funds ownership: 67.46% → 67.66% (+0.2%)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

Holders
117
Holders Change
+1
Holders Change %
+0.86%
% of All Funds
1.54%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
14
Increased
43
Reduced
37
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
American Century Companies
American Century Companies
Missouri
+$1.21M
2
HIM
Hillsdale Investment Management
Ontario, Canada
+$1.14M
3
Ameriprise
Ameriprise
Minnesota
+$986K
4
Two Sigma Investments
Two Sigma Investments
New York
+$809K
5
AQR Capital Management
AQR Capital Management
Connecticut
+$720K

Top Sellers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
-$2.8M
2
Franklin Resources
Franklin Resources
California
-$923K
3
AllianceBernstein
AllianceBernstein
Tennessee
-$910K
4
EI
EAM Investors
California
-$831K
5
Goldman Sachs
Goldman Sachs
New York
-$655K
Name Holding Trade Value Shares
Change 		Change in
Stake
RHCA
26
Rosenthal Henry Capital Advisors
Indiana
$2.28M – – –
Ameriprise
27
Ameriprise
Minnesota
$2.27M +$986K +20,557 +85%
Two Sigma Investments
28
Two Sigma Investments
New York
$2.04M +$809K +16,868 +72%
EF
29
Empowered Funds
Pennsylvania
$1.85M -$243K -5,066 -12%
UCI
30
Uncommon Cents Investing
Wisconsin
$1.73M -$31.6K -660 -2%
Bank of New York Mellon
31
Bank of New York Mellon
New York
$1.69M +$49.6K +1,034 +3%
Goldman Sachs
32
Goldman Sachs
New York
$1.69M -$655K -13,655 -29%
Barclays
33
Barclays
United Kingdom
$1.51M +$205K +4,282 +17%
Millennium Management
34
Millennium Management
New York
$1.46M +$462K +9,625 +50%
Royal Bank of Canada
35
Royal Bank of Canada
Ontario, Canada
$1.32M +$590K +12,295 +90%
AQR Capital Management
36
AQR Capital Management
Connecticut
$1.25M +$720K +15,010 +156%
GCM
37
Gator Capital Management
Florida
$1.2M – – –
Charles Schwab
38
Charles Schwab
California
$1.16M +$33K +689 +3%
Franklin Resources
39
Franklin Resources
California
$1.11M -$923K -19,248 -47%
Qube Research & Technologies (QRT)
40
Qube Research & Technologies (QRT)
United Kingdom
$1.11M +$427K +8,904 +69%
Baird Financial Group
41
Baird Financial Group
Wisconsin
$1.08M – – –
N
42
Nuveen
North Carolina
$957K -$197K -4,107 -18%
US Bancorp
43
US Bancorp
Minnesota
$906K – – –
Two Sigma Advisers
44
Two Sigma Advisers
New York
$805K +$28.8K +600 +4%
Wealth Enhancement Advisory Services
45
Wealth Enhancement Advisory Services
Minnesota
$716K -$6.81K -142 -1%
Los Angeles Capital Management
46
Los Angeles Capital Management
California
$707K +$382K +7,970 +133%
HSBC Holdings
47
HSBC Holdings
United Kingdom
$696K -$45.9K -957 -7%
Connor, Clark & Lunn Investment Management (CC&L)
48
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$673K -$158K -3,287 -20%
Citadel Advisors
49
Citadel Advisors
Florida
$639K +$605K +12,611 New
Lazard Asset Management
50
Lazard Asset Management
New York
$628K -$34.9K -728 -6%
1
2
3 4 5

FBIZ Hedge Fund Activity: Q2 2025 in Review

117 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in First Business Financial Services (FBIZ) for Q2 2025, worth a combined $285M — up 8% from $264M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new FBIZ positions and 13 closed out — a net gain of 1 holder — while 43 added to existing stakes and 37 trimmed.

The largest buyer was American Century Companies, adding an estimated $1.21M. The largest seller was BlackRock, cutting an estimated $2.8M.

  • 117 institutional investors held First Business Financial Services (FBIZ) as of Q2 2025, up from 116 in Q1 2025.
  • Funds reported $285M of First Business Financial Services stock for Q2 2025, up 8% quarter-over-quarter.
  • 14 funds opened new First Business Financial Services positions in Q2 2025 and 13 closed out, a net change of +1 holder.
  • The largest First Business Financial Services buyer in Q2 2025 was American Century Companies, an estimated $1.21M added.
  • The largest First Business Financial Services seller in Q2 2025 was BlackRock, an estimated $2.8M sold.

Based on aggregated 13F filings for Q2 2025.