Latest FIRST BUSINESS FINANCIAL SERVICES, INC. Stock Portfolio

FIRST BUSINESS FINANCIAL SERVICES, INC. Performance:

2025 Q3: 4.32%YTD: 6.42%2024: 4.51%

Performance for 2025 Q3 is 4.32%, and YTD is 6.42%, and 2024 is 4.51%.

About FIRST BUSINESS FINANCIAL SERVICES, INC. and 13F Hedge Fund Stock Holdings

In it's latest 13F Holdings report, FIRST BUSINESS FINANCIAL SERVICES, INC. reported an equity portfolio of $1.1 Billions as of 30 Sep, 2025.

The top stock holdings of FIRST BUSINESS FINANCIAL SERVICES, INC. are VB, IBCE, IJR. The fund has invested 24.3% of it's portfolio in VANGUARD TOTAL STOCK MARKET ET and 12.2% of portfolio in ISHARES CORE MSCI EAFE ETF.

The fund managers got completely rid off ADOBE INC (ADBE), CORTEVA INC COM (CTVA) and HILTON WORLDWIDE HLDGS INC (HLT) stocks. They significantly reduced their stock positions in THERMO FISHER SCIENTIFIC INC (TMO), UNITEDHEALTH GROUP INC (UNH) and INTEL CORP (INTC). FIRST BUSINESS FINANCIAL SERVICES, INC. opened new stock positions in AMERICAN ELECTRIC POWER INC (AEP), PHILLIPS 66 (PSX) and MARATHON PETROLEUM CORP (MPC). The fund showed a lot of confidence in some stocks as they added substantially to OKLO INC. (ALCC), NETFLIX INC (NFLX) and AMAZON.COM INC (AMZN).

FIRST BUSINESS FINANCIAL SERVICES, INC. Annual Return Estimates Vs S&P 500

Our best estimate is that FIRST BUSINESS FINANCIAL SERVICES, INC. made a return of 4.32% in the last quarter. In trailing 12 months, it's portfolio return was 7.23%.

New Buys

Ticker	$ Bought
american electric power inc	1,192,390
phillips 66	221,849
marathon petroleum corp	215,098
ppl corp	206,349
charles river labs intl	203,398
wells fargo & co	203,264
gilead sciences inc	200,466
under armour inc	48,300

New stocks bought by FIRST BUSINESS FINANCIAL SERVICES, INC.

Additions

Ticker	% Inc.
oklo inc.	33.00
netflix inc	16.12
amazon.com inc	14.21
nucor corp	10.41
weyco group inc	8.09
toll brothers inc	4.02
microsoft corp	3.75
xcel energy inc.	3.6

Additions to existing portfolio by FIRST BUSINESS FINANCIAL SERVICES, INC.

Reductions

Ticker	% Reduced
thermo fisher scientific inc	-48.96
unitedhealth group inc	-47.04
intel corp	-34.00
vanguard small-cap etf	-33.66
ishares russell 1000 etf	-23.92
ge vernova inc	-23.08
kroger co	-15.73
cencora inc	-14.53

FIRST BUSINESS FINANCIAL SERVICES, INC. reduced stake in above stock

Sold off

Ticker	$ Sold
ford motor co	-159,528
csx corp com	-379,161
corteva inc com	-704,607
adobe inc	-1,335,120
starbucks corp	-211,574
hilton worldwide hldgs inc	-457,306
american tower corp	-300,366
honeywell international inc	-202,140

FIRST BUSINESS FINANCIAL SERVICES, INC. got rid off the above stocks

Sector Distribution

FIRST BUSINESS FINANCIAL SERVICES, INC. has about 76.7% of it's holdings in Others sector.

Sector	%
Others	76.7
Technology	7.9
Financial Services	4.3
Industrials	2.9
Communication Services	1.9
Consumer Cyclical	1.5
Healthcare	1.4
Consumer Defensive	1.3
Utilities	1.1

Market Cap. Distribution

FIRST BUSINESS FINANCIAL SERVICES, INC. has about 20.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	76.3
MEGA-CAP	10.4
LARGE-CAP	10.4
SMALL-CAP	1.9

Stocks belong to which Index?

About 22.4% of the stocks held by FIRST BUSINESS FINANCIAL SERVICES, INC. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	77.7
S&P 500	20
RUSSELL 2000	2.4

Top 5 Winners (%)		%
CIEN	ciena corp	79.1 %
GLW	corning inc	56.0 %
INTC	intel corp	49.8 %
ANET	arista networks inc	42.4 %
GOOG	alphabet inc cap stk cl a	37.9 %

Top 5 Winners ($)		$
IJR	ishares russell 1000 growth et	8.9 M
IJR	ishares core s&p small-cap etf	5.4 M
IJR	ishares russell 1000 value etf	3.0 M
AAPL	apple inc	2.9 M
NVDA	nvidia corp	2.9 M

Top 5 Losers (%)		%
FIS	fidelity national information	-19.0 %
ISRG	intuitive surgical inc	-17.7 %
ACN	accenture plc	-17.5 %
TDG	transdigm group inc	-13.3 %
CRM	salesforce inc.	-13.1 %

Top 5 Losers ($)		$
DE	deere & co com	-0.5 M
TXN	texas instruments inc	-0.3 M
COST	costco wholesale corp	-0.3 M
DRI	darden restaurants inc	-0.3 M
SYK	stryker corp	-0.2 M

FIRST BUSINESS FINANCIAL SERVICES, INC. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of FIRST BUSINESS FINANCIAL SERVICES, INC.

FIRST BUSINESS FINANCIAL SERVICES, INC. has 185 stocks in it's portfolio. About 72.1% of the portfolio is in top 10 stocks. DE proved to be the most loss making stock for the portfolio. IJR was the most profitable stock for FIRST BUSINESS FINANCIAL SERVICES, INC. last quarter.

Last Reported on: 30 Oct, 2025

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	1.32	56,477	14,380,700	reduced	-5.29

AAXJ	ishares national muni bond etf	0.43	43,656	4,648,930	added	1.43

AAXJ	ishares msci acwi ex us	0.04	5,905	383,884	unchanged	0.00

AAXJ	ishares global clean energy et	0.02	11,001	170,295	reduced	-3.94

ABBV	abbvie inc com	0.16	7,278	1,685,150	reduced	-2.02

ABC	cencora inc	0.38	13,344	4,170,400	reduced	-14.53

ABT	abbott laboratories	0.07	5,443	729,035	unchanged	0.00

ACN	accenture plc	0.09	4,167	1,027,580	unchanged	0.00

ACWF	ishares core dividend growth	5.15	824,026	56,099,700	reduced	-12.06

ADBE	adobe inc	0.00	0.00	0.00	sold off	-100

ADI	analog devices inc	0.26	11,623	2,855,770	reduced	-13.47

AEE	ameren corporation	0.11	11,155	1,164,360	unchanged	0.00

AEP	american electric power inc	0.11	10,599	1,192,390	new

AGNG	global x us infr dev etf	0.02	5,401	257,250	unchanged	0.00

AJG	arthur j. gallagher & co	0.03	1,037	321,200	unchanged	0.00

ALCC	oklo inc.	0.07	6,650	742,340	added	33.00

AMAT	applied materials inc	0.02	1,114	228,080	unchanged	0.00

AMD	advanced micro devices inc	0.05	3,536	572,089	unchanged	0.00

AMP	ameriprise financial inc	0.05	1,015	498,619	reduced	-7.14

AMPS	ishares edge msci min vol usa	0.08	8,694	827,147	unchanged	0.00