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First Business Financial Services
FBIZ

136 hedge funds and large institutions have $292M invested in First Business Financial Services in 2025 Q3 according to their latest regulatory filings, with 27 funds opening new positions, 48 increasing their positions, 35 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

238% more first-time investments, than exits

New positions opened: 27 | Existing positions closed: 8

37% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 35

16% more funds holding

Funds holding: 117 → 136 (+19)

2% more capital invested

Capital invested by funds: $285M → $292M (+$6.95M)

0.82% more ownership

Funds ownership: 67.66% → 68.48% (+0.82%)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

Holders
136
Holders Change
+19
Holders Change %
+16.24%
% of All Funds
1.78%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
27
Increased
48
Reduced
35
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AQR Capital Management
AQR Capital Management
Connecticut
+$3.02M
2
Geode Capital Management
Geode Capital Management
Massachusetts
+$2.22M
3
LSV Asset Management
LSV Asset Management
Illinois
+$1.96M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$1.56M
5
American Century Companies
American Century Companies
Missouri
+$1.37M

Top Sellers

Rank Fund Capital Flow
1
BFC
Banc Funds Company
Illinois
-$3.63M
2
BlackRock
BlackRock
New York
-$3.3M
3
Invesco
Invesco
Georgia
-$2.5M
4
MI
M3F Inc
Utah
-$1.54M
5
FBFS
First Business Financial Services
Wisconsin
-$1.04M
Name Holding Trade Value Shares
Change 		Change in
Stake
Two Sigma Investments
26
Two Sigma Investments
New York
$2.37M +$304K +5,934 +15%
Acadian Asset Management
27
Acadian Asset Management
Massachusetts
$2.35M – – –
RHCA
28
Rosenthal Henry Capital Advisors
Indiana
$2.31M – – –
Morgan Stanley
29
Morgan Stanley
New York
$2.08M -$377K -7,367 -15%
Millennium Management
30
Millennium Management
New York
$2.06M +$576K +11,261 +39%
EF
31
Empowered Funds
Pennsylvania
$1.88M +$7.98K +156 +0.4%
Qube Research & Technologies (QRT)
32
Qube Research & Technologies (QRT)
United Kingdom
$1.77M +$650K +12,707 +58%
UCI
33
Uncommon Cents Investing
Wisconsin
$1.77M +$13K +255 +0.7%
Bank of New York Mellon
34
Bank of New York Mellon
New York
$1.76M +$41.3K +808 +2%
First Trust Advisors
35
First Trust Advisors
Illinois
$1.55M +$1.28M +24,949 +470%
Royal Bank of Canada
36
Royal Bank of Canada
Ontario, Canada
$1.38M +$45K +880 +3%
Barclays
37
Barclays
United Kingdom
$1.37M -$157K -3,064 -10%
GCM
38
Gator Capital Management
Florida
$1.22M +$7.67K +150 +0.6%
Stifel Financial
39
Stifel Financial
Missouri
$1.17M +$1.16M +22,763 New
Franklin Resources
40
Franklin Resources
California
$1.14M +$12.2K +239 +1%
Charles Schwab
41
Charles Schwab
California
$1.14M -$35.3K -690 -3%
Baird Financial Group
42
Baird Financial Group
Wisconsin
$1.09M – – –
KCM
43
Kennedy Capital Management
Missouri
$1M +$999K +19,525 New
N
44
Nuveen
North Carolina
$969K – – –
US Bancorp
45
US Bancorp
Minnesota
$917K – – –
JP Morgan Chase
46
JP Morgan Chase
New York
$830K +$296K +5,793 +56%
Two Sigma Advisers
47
Two Sigma Advisers
New York
$774K -$40.9K -800 -5%
Wealth Enhancement Advisory Services
48
Wealth Enhancement Advisory Services
Minnesota
$719K +$64.1K +1,253 +10%
Bank of America
49
Bank of America
North Carolina
$682K +$331K +6,470 +95%
Creative Planning
50
Creative Planning
Kansas
$673K +$58.4K +1,142 +10%
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FBIZ Hedge Fund Activity: Q3 2025 in Review

136 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in First Business Financial Services (FBIZ) for Q3 2025, worth a combined $292M — up 2.4% from $285M a quarter earlier.

Buyers outnumbered sellers: 27 funds opened new FBIZ positions and 8 closed out — a net gain of 19 holders — while 48 added to existing stakes and 35 trimmed.

The largest buyer was AQR Capital Management, adding an estimated $3.02M. The largest seller was Banc Funds Company, cutting an estimated $3.63M.

  • 136 institutional investors held First Business Financial Services (FBIZ) as of Q3 2025, up from 117 in Q2 2025.
  • Funds reported $292M of First Business Financial Services stock for Q3 2025, up 2.4% quarter-over-quarter.
  • 27 funds opened new First Business Financial Services positions in Q3 2025 and 8 closed out, a net change of +19 holders.
  • The largest First Business Financial Services buyer in Q3 2025 was AQR Capital Management, an estimated $3.02M added.
  • The largest First Business Financial Services seller in Q3 2025 was Banc Funds Company, an estimated $3.63M sold.

Based on aggregated 13F filings for Q3 2025.