FIRST BUSINESS FINANCIAL SERVICES, INC.

Q3 2025 13F-HR Holdings

Location
Madison, WI
Holdings as of
9/30/2025
Date filed
10/30/2025
Form type
13F-HR
Num holdings
185
Total value ($000)
$1,090,082
Net value change ($000)
-18,781 (-1.7%)
New positions
9
Sold out positions
9
Turnover %
0.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/31/2025 Next filing: 2/6/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GOOGL 2,148 29.9%
AAPL 2,147 17.5%
SPY 1,991 7.3%
ANET 1,579 23.4%
CIEN 1,530 68.0%
NVDA 1,404 8.7%
CAT 1,304 22.9%
AEP 1,192 NEW
AVGO 1,143 10.4%
AGG 1,015 2.9%
Top Reduces (Value $000, Stocks/ETFs)
IEFA -9,371 -6.6%
VTI -9,288 -3.4%
DGRO -3,815 -6.4%
IWD -3,316 -5.8%
IJH -3,049 -6.2%
IJR -2,156 -3.5%
ADBE -1,335 -100.0%
FBIZ -802 -4.0%
CTVA -705 -100.0%
COST -670 -14.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type