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First Business Financial Services, Inc.

Portfolio Profile

CIK: 0001521951 | MADISON, WI

Investment Profile

Style

ETF

Turnover

Very Low

Orientation

Concentrated long-term
$1.3B
AUM
207
Positions
67.06%
Top 10 Conc.
81.98%
Top 25 Conc.

Top Holdings

#SecuritySharesValue% of Portfolio
1Vanguard Total Stock Market ET(VTI)795,217$297.6M23.24%
2iShares Core Msci Eafe ETF(IEFA)1,560,371$151.2M11.81%
3iShares Russell 1000 Growth ET(IWF)735,798$92.2M7.20%
4iShares Core S&P Small-Cap ETF(IJR)503,295$68.5M5.35%
5iShares Russell 1000 Value ETF(IWD)264,391$65.6M5.12%

Sector Allocation

Latest filing, equity positions only

Unclassified74.05% · $948.0M
Technology10.2% · $130.5M
Financial Services5.09% · $65.2M
Industrials2.29% · $29.3M
Healthcare2.01% · $25.7M
Communication Services1.86% · $23.8M
Consumer Cyclical1.62% · $20.7M

AUM History

$860.2M | 162 pos.
$932.5M | 165 pos.
$943.3M | 157 pos.
$999.2M | 159 pos.
$1.0B | 162 pos.
$1.0B | 170 pos.
6
iShares Core Dividend Growth(DGRO)
847,306
$63.9M
4.99%
7iShares Core US Aggregate Bond(AGG)422,624$40.0M3.12%
8State Street Spdr S&P 500 ETF(SPY)43,684$33.3M2.60%
9Nvidia Corp(NVDA)104,999$24.0M1.87%
10First Business Financial Servi(FBIZ)327,189$22.5M1.76%
Consumer Defensive1.3% · $16.6M
Utilities0.57% · $7.3M
Basic Materials0.38% · $4.9M
Energy0.34% · $4.3M
Real Estate0.3% · $3.8M

Sector Rotation

Quarter-over-quarter weight changes

SectorPrev %Curr %Change
Technology9.85%10.2%+0.35%
Communication Services2.19%1.86%-0.33%
Energy0.58%0.34%-0.24%
Financial Services4.93%5.09%+0.16%
Consumer Cyclical1.48%1.62%+0.14%
Industrials2.4%2.29%-0.11%
Healthcare1.9%2.01%+0.11%
Utilities0.66%0.57%-0.09%
Unclassified74.1%74.05%-0.05%
Consumer Defensive1.26%1.3%+0.04%
Basic Materials0.35%0.38%+0.03%
Real Estate0.29%0.3%+0.01%

Cap Size Rotation

Quarter-over-quarter weight changes by market cap

Cap SizePrev %Curr %Change
Unclassified74.1%74.05%-0.05%
Mega Cap13.12%13.24%+0.12%
Large Cap10.73%10.58%-0.15%
Small Cap1.73%1.83%+0.1%
Mid Cap0.33%0.3%-0.03%
$1.1B | 185 pos.
$1.1B | 185 pos.
$1.1B | 168 pos.
$1.1B | 192 pos.
$1.3B | 201 pos.
$1.3B | 207 pos.
Q4
23
Q1
24
Q2
24
Q3
24
Q4
24
Q1
25
Q2
25
Q3
25
Q4
25
Q1
26
Q2
26
Q3
26

Recent Activity

Quarter-over-quarter position changes

14
New
8
Closed
90
Increased
30
Decreased
73
Unchanged