First Business Financial Services, Inc.

CIK

1521951

Location

MADISON, WI

Portfolio Value

Small $366,561,493

Diversification

Diversified

Filing Date

Global Rank

#3,278 / 8,517 ▲ 159

Top Industry

Semiconductors 15.8%

3Y Alpha vs SPY

+36.2%

Period ended 46 days ago

Filed Jul 28, 2026 · 18d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+286.1%

SPY

+75.3%

Annualised alpha

+36.3%

Max drawdown

−18.7%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

151 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

8.9%

−0.1 pts

Top 5

29.3%

−0.4 pts

Top 10

47.7%

+1.7 pts

HHI

303

Diversified+9

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	35.3%	$129,223,729	30
Financial Services	16.1%	$59,051,373	27
Unclassified	9.8%	$35,917,775	6
Industrials	8.8%	$32,303,231	23
Communication Services	7.0%	$25,758,070	6
Healthcare	6.7%	$24,464,994	15
Consumer Cyclical	5.2%	$19,135,547	12
Consumer Defensive	4.4%	$16,301,633	10
Utilities	2.3%	$8,543,891	12
Energy	2.1%	$7,533,347	7
Basic Materials	1.2%	$4,556,796	1
Real Estate	1.0%	$3,771,107	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVDA	Nvidia Corp	+2,596	102,546	$20,518,429
ANET	Arista Networks, Inc.	+2,577	68,750	$11,679,250
BAC	Bank Of America Corp /De/	+2,380	80,030	$4,560,109
LRCX	Lam Research Corp	+1,674	32,515	$14,089,724
SLB	Slb Limited/Nv	+1,589	40,368	$1,876,708
XOM	ExxonMobil Holdings Corp	+1,565	30,811	$4,212,479
C	Citigroup Inc	+1,402	41,453	$5,801,761
NEE	Nextera Energy Inc	+1,334	34,658	$3,041,932
KR	Kroger Co	+1,228	27,577	$1,531,350
CL	Colgate Palmolive Co	+1,183	16,294	$1,493,833
TOL	Toll Brothers, Inc.	+1,103	18,086	$2,979,668
LNT	Alliant Energy Corp	+1,047	6,491	$495,198
KO	Coca Cola Co	+1,006	39,772	$3,232,270
NFLX	Netflix Inc	+939	22,065	$1,575,441
AEP	American Electric Power Co Inc	+818	13,845	$1,894,134
NUE	Nucor Corp	+812	20,457	$4,556,796
WMT	Walmart Inc.	+787	9,601	$1,087,409
PPL	PPL Corp	+787	6,340	$230,459
JPM	Jpmorgan Chase & Co	+781	36,121	$11,823,486
OSK	Oshkosh Corp	+709	14,778	$2,268,127
APO	Apollo Global Management, Inc.	+705	11,607	$1,373,224
TJX	Tjx Companies Inc /De/	+688	20,159	$3,054,088
COR	Cencora, Inc.	+681	16,022	$4,533,905
BRK-B	Berkshire Hathaway Inc	+633	2,838	$1,420,106
MSFT	Microsoft Corp	+597	18,644	$6,954,584
No positions match the current search.

Trimmed

Positions the filer reduced

22 positions

Ticker	Company	Δ Shares	Shares	Value
FBIZ	First Business Financial Services, Inc.	−21,122	340,189	$21,489,739
WTRG	Essential Utilities, Inc.	−8,146	6,000	$229,860
GOOGL	Alphabet Inc.	−5,456	43,589	$15,577,400
CIEN	Ciena Corp	−1,242	28,808	$14,132,052
MCD	Mcdonalds Corp	−733	859	$232,196
GLW	Corning Inc /Ny	−424	8,538	$2,180,861
DOX	Amdocs Ltd	−404	4,046	$204,484
BX	Blackstone Inc.	−403	2,514	$295,822
AVGO	Broadcom Inc.	−399	41,248	$15,581,432
ATI	Ati Inc	−326	7,158	$1,410,841
EOG	Eog Resources Inc	−304	1,625	$210,811
PNC	Pnc Financial Services Group, Inc.	−230	1,130	$278,228
AON	Aon plc	−142	1,242	$411,958
ABBV	AbbVie Inc.	−119	7,047	$1,773,307
MRVL	Marvell Technology, Inc.	−112	3,001	$893,967
SPY	Spdr S&P 500 ETF Trust	−70	43,684	$32,621,900
TMO	Thermo Fisher Scientific Inc.	−68	467	$234,135
EA	Electronic Arts Inc.	−63	14,127	$2,896,600
NOW	ServiceNow, Inc.	−60	2,210	$219,408
PLTR	Palantir Technologies Inc.	−57	8,758	$1,021,795
CSCO	Cisco Systems, Inc.	−12	31,038	$3,645,723
XEL	Xcel Energy Inc	−6	4,178	$335,493
No positions match the current search.

New Positions

Positions the filer opened this quarter

14 positions

Ticker	Company	Shares	Value
HWM	Howmet Aerospace Inc.	7,638	$2,053,552
MU	Micron Technology Inc	414	$477,876
INTC	Intel Corp	2,450	$342,093
STX	Seagate Technology Holdings plc	321	$309,765
TSM	Taiwan Semiconductor Manufacturing Co Ltd	567	$270,782
CVS	CVS HEALTH Corp	2,312	$239,176
KEY	Keycorp /New/	9,791	$225,682
WEC	Wec Energy Group, Inc.	1,930	$225,366
WFC	Wells Fargo & Company/Mn	2,715	$224,367
ENB	Enbridge Inc	3,946	$213,912
UBER	Uber Technologies, Inc	2,922	$210,851
SPG	Simon Property Group Inc.	931	$208,218
CEG	Constellation Energy Corp	832	$206,643
GNRC	Generac Holdings Inc.	700	$204,967
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
VB	Vanguard Morningstar Small-Cap ETF	5,070	$1,327,934
VEA	Vanguard FTSE Developed Markets ETF	6,562	$420,492
SIVR	abrdn Silver ETF Trust	3,160	$226,287
DIS	Walt Disney Co	2,281	$219,842
SHEL	Shell plc	2,257	$209,901
UAA	Under Armour, Inc.	20,000	$115,800
DNN	Denison Mines Corp.	10,000	$35,300
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

151 tracked positions · $366,561,493 total · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 151 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Reduced	43,684	-70	$32,621,900	+14.6%	8.90%
FBIZ	First Business Financial Services, Inc. Financial Services	Reduced	340,189	-21,122	$21,489,739	+10.3%	5.86%
NVDA	Nvidia Corp Technology	Added	102,546	+2,596	$20,518,429	+17.7%	5.60%
AAPL	Apple Inc. Technology	Added	59,954	+485	$17,348,289	+14.9%	4.73%
AVGO	Broadcom Inc. Technology	Reduced	41,248	-399	$15,581,432	+20.9%	4.25%
GOOGL	Alphabet Inc. Communication Services	Reduced	43,589	-5,456	$15,577,400	+10.5%	4.25%
CIEN	Ciena Corp Technology	Reduced	28,808	-1,242	$14,132,052	+21.1%	3.86%
LRCX	Lam Research Corp Technology	Added	32,515	+1,674	$14,089,724	+113.8%	3.84%
JPM	Jpmorgan Chase & Co Financial Services	Added	36,121	+781	$11,823,486	+13.7%	3.23%
ANET	Arista Networks, Inc. Technology	Added	68,750	+2,577	$11,679,250	+43.7%	3.19%
PWR	Quanta Services, Inc. Industrials	Added	15,594	+67	$11,228,303	+31.7%	3.06%
LLY	ELI LILLY & Co Healthcare	Added	6,642	+226	$7,966,614	+35.0%	2.17%
MSFT	Microsoft Corp Technology	Added	18,644	+597	$6,954,584	+4.1%	1.90%
C	Citigroup Inc Financial Services	Added	41,453	+1,402	$5,801,761	+27.7%	1.58%
ADI	Analog Devices Inc Technology	Added	13,874	+500	$5,510,336	+29.5%	1.50%
BAC	Bank Of America Corp /De/ Financial Services	Added	80,030	+2,380	$4,560,109	+20.5%	1.24%
NUE	Nucor Corp Basic Materials	Added	20,457	+812	$4,556,796	+37.2%	1.24%
COR	Cencora, Inc. Healthcare	Added	16,022	+681	$4,533,905	−5.9%	1.24%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	4,723	+74	$4,418,224	−4.6%	1.21%
XOM	ExxonMobil Holdings Corp Energy	Added	30,811	+1,565	$4,212,479	−15.1%	1.15%
TXN	Texas Instruments Inc Technology	Added	13,969	+373	$4,163,739	+57.7%	1.14%
GD	General Dynamics Corp Industrials	Added	10,301	+439	$3,649,026	+7.8%	1.00%
CSCO	Cisco Systems, Inc. Technology	Reduced	31,038	-12	$3,645,723	+51.3%	0.99%
EQIX	Equinix Inc Real Estate	Added	3,418	+121	$3,562,889	+10.2%	0.97%
EXPE	Expedia Group, Inc. Consumer Cyclical	Added	12,670	+468	$3,241,999	+15.1%	0.88%
KO	Coca Cola Co Consumer Defensive	Added	39,772	+1,006	$3,232,270	+9.6%	0.88%
SYK	Stryker Corp Healthcare	Added	10,025	+360	$3,156,271	−0.6%	0.86%
RSG	Republic Services, Inc. Industrials	Added	14,459	+231	$3,080,923	−1.1%	0.84%
PRU	Prudential Financial Inc Financial Services	Added	28,540	+494	$3,080,322	+12.4%	0.84%
AMZN	Amazon Com Inc Consumer Cyclical	Added	12,887	+521	$3,071,487	+19.3%	0.84%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Added	20,159	+688	$3,054,088	−1.8%	0.83%
NEE	Nextera Energy Inc Utilities	Added	34,658	+1,334	$3,041,932	−1.7%	0.83%
TOL	Toll Brothers, Inc. Consumer Cyclical	Added	18,086	+1,103	$2,979,668	+28.6%	0.81%
TMUS	T-Mobile US, Inc. Communication Services	Added	17,473	+569	$2,930,746	−17.5%	0.80%
EA	Electronic Arts Inc. Communication Services	Reduced	14,127	-63	$2,896,600	+0.1%	0.79%
META	Meta Platforms, Inc. Communication Services	Added	4,553	+232	$2,564,659	+3.7%	0.70%
DRI	Darden Restaurants Inc Consumer Cyclical	Added	11,096	+412	$2,285,886	+9.1%	0.62%
OSK	Oshkosh Corp Industrials	Added	14,778	+709	$2,268,127	+9.5%	0.62%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	17,807	+530	$2,192,219	−19.3%	0.60%
GLW	Corning Inc /Ny Technology	Reduced	8,538	-424	$2,180,861	+79.0%	0.59%
LOW	Lowes Companies Inc Consumer Cyclical	Added	9,726	+371	$2,144,485	−3.0%	0.59%
AMD	Advanced Micro Devices Inc Technology	Added	3,600	+94	$2,091,276	+193.2%	0.57%
HWM	Howmet Aerospace Inc. Industrials	NEW	7,638	NEW	$2,053,552	NEW	0.56%
QCOM	Qualcomm Inc/De Technology	Added	10,546	+418	$1,948,795	+49.4%	0.53%
PM	Philip Morris International Inc. Consumer Defensive	Added	10,548	+90	$1,908,238	+10.4%	0.52%
AEP	American Electric Power Co Inc Utilities	Added	13,845	+818	$1,894,134	+10.9%	0.52%
SLB	Slb Limited/Nv Energy	Added	40,368	+1,589	$1,876,708	−5.8%	0.51%
IQV	Iqvia Holdings Inc. Healthcare	Added	9,340	+376	$1,804,674	+18.1%	0.49%
ABBV	AbbVie Inc. Healthcare	Reduced	7,047	-119	$1,773,307	+13.8%	0.48%
NFLX	Netflix Inc Communication Services	Added	22,065	+939	$1,575,441	−22.4%	0.43%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.