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FIRST BUSINESS FINANCIAL SERVICES, INC.
Period ended Sep 30, 2026 · Latest filing Oct 29, 2026
These quarterly holdings are delayed and may not include all assets or short positions.
Values are from the reporting date, not current prices or purchase costs.
The same security may appear in multiple rows.
Source: SEC
Reported portfolio value
Quarter-end reported holdings; not current value or investment performance.
View reported values
- Sep 30, 2026: $1,280,298,787
More quarters will appear as history becomes available.
Top holdings
Top 10 at Sep 30, 2026. Matching entries are combined; security classes and options remain separate. Shares exclude principal amounts; option shares reflect the reported underlying amount.
View top holdings values
- Vanguard Total Stock Market ET · Com · 922908769 · shares: $297,602,010
- iShares Core MSCI EAFE ETF · Com · 46432F842 · shares: $151,168,742
- iShares Russell 1000 Growth ET · Com · 464287614 · shares: $92,166,057
- iShares Core S&P Small-Cap ETF · Com · 464287804 · shares: $68,468,252
- iShares Russell 1000 Value ETF · Com · 464287598 · shares: $65,550,461
- iShares Core Dividend Growth · Com · 46434V621 · shares: $63,878,399
- iShares Core US Aggregate Bond · Com · 464287226 · shares: $39,954,873
- State Street SPDR S&P 500 ETF · Com · 78462F103 · shares: $33,314,729
- Nvidia Corp · Com · 67066G104 · shares: $23,979,672
- First Business Financial Servi · Com · 319390100 · shares: $22,504,059
Reported holdings
207 reported entries| Issuer | Class | CUSIP | Type | Shares / principal | Reported value (USD) |
|---|---|---|---|---|---|
| Vanguard Total Stock Market ET | Com | 922908769 | — | 795,217 shares | $297,602,010 |
| iShares Core MSCI EAFE ETF | Com | 46432F842 | — | 1,560,371 shares | $151,168,742 |
| iShares Russell 1000 Growth ET | Com | 464287614 | — | 735,798 shares | $92,166,057 |
| iShares Core S&P Small-Cap ETF | Com | 464287804 | — | 503,295 shares | $68,468,252 |
| iShares Russell 1000 Value ETF | Com | 464287598 | — | 264,391 shares | $65,550,461 |
| iShares Core Dividend Growth | Com | 46434V621 | — | 847,306 shares | $63,878,399 |
| iShares Core US Aggregate Bond | Com | 464287226 | — | 422,624 shares | $39,954,873 |
| State Street SPDR S&P 500 ETF | Com | 78462F103 | — | 43,684 shares | $33,314,729 |
| Nvidia Corp | Com | 67066G104 | — | 104,999 shares | $23,979,672 |
| First Business Financial Servi | Com | 319390100 | — | 327,189 shares | $22,504,059 |
| JPMorgan Ultra-Short Income ET | Com | 46641Q837 | — | 398,326 shares | $20,063,681 |
| Apple Inc | Com | 037833100 | — | 56,428 shares | $18,791,653 |
| iShares Core S&P Mid-Cap ETF | Com | 464287507 | — | 236,538 shares | $17,018,909 |
| Alphabet Inc Cap Stk Cl A | Com | 02079K305 | — | 44,847 shares | $15,430,956 |
| Broadcom Inc | Com | 11135F101 | — | 42,796 shares | $15,029,527 |
| Arista Networks Inc | Com | 040413205 | — | 70,066 shares | $14,264,737 |
| JPMorgan Chase & Co | Com | 46625H100 | — | 36,835 shares | $12,186,123 |
| Lam Research Corporation | Com | 512807306 | — | 34,990 shares | $11,494,565 |
| Northern Trust Global Natural | Com | 33939L407 | — | 188,023 shares | $10,628,940 |
| Ciena Corp | Com | 171779309 | — | 28,916 shares | $10,173,227 |
| iShares Global Infrastructure | Com | 464288372 | — | 162,671 shares | $10,014,027 |
| Quanta Services Inc | Com | 74762E102 | — | 15,502 shares | $9,960,190 |
| Microsoft Corp | Com | 594918104 | — | 19,341 shares | $9,919,999 |
| Vanguard Short-Term Inflation | Com | 922020805 | — | 166,177 shares | $8,179,232 |
| Lilly Eli Co | Com | 532457108 | — | 6,780 shares | $7,845,002 |
| State Street Technology Select | Com | 81369Y803 | — | 36,498 shares | $7,144,484 |
| iShares S&P 500 Core | Com | 464287200 | — | 8,660 shares | $6,632,261 |
| iShares Edge MSCI USA Momentum | Com | 46432F396 | — | 20,335 shares | $6,453,109 |
| iShares National Muni Bond ETF | Com | 464288414 | — | 59,706 shares | $6,036,277 |
| Analog Devices Inc | Com | 032654105 | — | 14,174 shares | $5,622,968 |
| Citigroup Inc | Com | 172967424 | — | 42,301 shares | $5,477,133 |
| ExxonMobil Holdings Corp | Com | 30233Q108 | — | 30,981 shares | $5,042,158 |
| Nucor Corp | Com | 670346105 | — | 20,826 shares | $4,868,078 |
| CENCORA INC | Com | 03073E105 | — | 16,062 shares | $4,822,616 |
| Berkshire Hathaway Inc Class A | Com | 084670108 | — | 6 shares | $4,482,030 |
| Bank of America Corp | Com | 060505104 | — | 81,239 shares | $4,421,839 |
| Costco Wholesale Corp | Com | 22160K105 | — | 4,803 shares | $4,372,363 |
| Texas Instruments Inc | Com | 882508104 | — | 14,267 shares | $3,996,044 |
| General Dynamics Corp | Com | 369550108 | — | 10,698 shares | $3,549,917 |
| Equinix Inc | Com | 29444U700 | — | 3,494 shares | $3,534,461 |
| Return Stacked Global Stocks & | Com | 88636J204 | — | 118,614 shares | $3,521,057 |
| Coca-Cola Co | Com | 191216100 | — | 40,332 shares | $3,471,779 |
| Expedia Group Inc New | Com | 30212P303 | — | 12,976 shares | $3,417,359 |
| Amazon.com Inc | Com | 023135106 | — | 13,619 shares | $3,393,174 |
| State Street Energy Select Sec | Com | 81369Y506 | — | 54,244 shares | $3,336,006 |
| Prudential Financial Inc | Com | 744320102 | — | 29,137 shares | $3,309,380 |
| Cisco Systems Inc | Com | 17275R102 | — | 28,338 shares | $3,050,019 |
| Generac Holdings Inc | Com | 368736104 | — | 14,635 shares | $3,028,713 |
| T Mobile US Inc | Com | 872590104 | — | 18,027 shares | $2,939,843 |
| Intercontinental Exchange Inc | Com | 45866F104 | — | 18,931 shares | $2,878,080 |
| Stryker Corp | Com | 863667101 | — | 10,294 shares | $2,834,865 |
| TJX Companies Inc | Com | 872540109 | — | 21,118 shares | $2,794,123 |
| Nextera Energy Inc | Com | 65339F101 | — | 35,424 shares | $2,683,014 |
| Iqvia Holdings Inc | Com | 46266C105 | — | 9,760 shares | $2,623,976 |
| Toll Brothers Inc | Com | 889478103 | — | 18,995 shares | $2,559,576 |
| Alphabet Inc Cap Stk Cl C | Com | 02079K107 | — | 7,030 shares | $2,395,402 |
| Advanced Micro Devices Inc | Com | 007903107 | — | 3,868 shares | $2,366,288 |
| State Street Industrial Select | Com | 81369Y704 | — | 14,013 shares | $2,339,891 |
| Darden Restaurants Inc | Com | 237194105 | — | 11,392 shares | $2,201,504 |
| Doordash Inc | Com | 25809K105 | — | 10,993 shares | $2,017,765 |
| Philip Morris International In | Com | 718172109 | — | 10,514 shares | $2,006,281 |
| SLB Limited | Com | 806857108 | — | 41,016 shares | $1,998,300 |
| Oshkosh Corporation | Com | 688239201 | — | 15,423 shares | $1,986,791 |
| Qualcomm Inc | Com | 747525103 | — | 10,779 shares | $1,983,767 |
| Palantir Technologies Inc | Com | 69608A108 | — | 10,448 shares | $1,954,298 |
| Lowe's Companies Inc | Com | 548661107 | — | 10,450 shares | $1,925,831 |
| Abbvie Inc Com | Com | 00287Y109 | — | 7,067 shares | $1,848,657 |
| Howmet Aerospace Inc | Com | 443201108 | — | 8,057 shares | $1,822,332 |
| iShares Russell 1000 ETF | Com | 464287622 | — | 4,244 shares | $1,766,056 |
| Spdr Gold Trust | Com | 78463V107 | — | 4,607 shares | $1,754,530 |
| American Electric Power Inc | Com | 025537101 | — | 14,182 shares | $1,682,552 |
| Berkshire Hathaway INC-CL B | Com | 084670702 | — | 3,359 shares | $1,672,614 |
| Kroger Co | Com | 501044101 | — | 28,340 shares | $1,661,291 |
| Netflix Inc | Com | 64110L106 | — | 22,996 shares | $1,600,062 |
| Colgate-Palmolive Co | Com | 194162103 | — | 17,540 shares | $1,496,513 |
| Vanguard Morningstar Small-Cap | Com | 922908751 | — | 5,070 shares | $1,442,364 |
| State Street Consumer Dis Sele | Com | 81369Y407 | — | 12,902 shares | $1,404,254 |
| Apollo Global Mgmt Inc | Com | 03769M106 | — | 11,971 shares | $1,389,354 |
| iShares Russell 2000 | Com | 464287655 | — | 4,961 shares | $1,378,612 |
| Salesforce Inc. | Com | 79466L302 | — | 5,991 shares | $1,375,354 |
| ATI Inc | Com | 01741R102 | — | 7,158 shares | $1,355,725 |
| ASML Holding N V N Y Registry | Com | N07059210 | — | 732 shares | $1,326,142 |
| Corning Inc | Com | 219350105 | — | 8,538 shares | $1,312,803 |
| Merck & Co Inc | Com | 58933Y105 | — | 8,946 shares | $1,299,943 |
| Financial Select Sector SPDR E | Com | 81369Y605 | — | 24,095 shares | $1,286,673 |
| Johnson & Johnson | Com | 478160104 | — | 4,785 shares | $1,266,781 |
| Meta Platforms Inc | Com | 30303M102 | — | 1,636 shares | $1,186,394 |
| Eaton Corp PLC | Com | G29183103 | — | 2,756 shares | $1,184,281 |
| Vanguard Communication SVCS ET | Com | 92204A884 | — | 6,200 shares | $1,181,658 |
| iShares Russell 2000 Growth | Com | 464287648 | — | 3,132 shares | $1,117,811 |
| Wal-Mart Inc | Com | 931142103 | — | 10,181 shares | $1,058,010 |
| Simplify Managed Futures ETF | Com | 82889N699 | — | 36,187 shares | $1,043,633 |
| Nuveen ESG Large Cap Value | Com | 67092P300 | — | 19,383 shares | $1,020,515 |
| VANGUARD MRNGSTR MID CAP ETF | Com | 922908629 | — | 12,820 shares | $1,005,344 |
| iShares Russell 2000 Value | Com | 464287630 | — | 4,604 shares | $964,308 |
| Blackrock Inc New | Com | 09290D101 | — | 837 shares | $885,789 |
| iShares Edge MSCI Min Vol USA | Com | 46429B697 | — | 8,694 shares | $847,143 |
| VANGUARD INDEX FDS MORNINGSTAR | Com | 922908736 | — | 9,012 shares | $812,071 |
| Procter & Gamble Co | Com | 742718109 | — | 5,479 shares | $795,989 |
| Marvell Technology Group LTD | Com | 573874104 | — | 3,011 shares | $795,536 |