FIRST BUSINESS FINANCIAL SERVICES, INC. - FBIZ

Detailed investor-level table based on 13F positions.
Early Q1 2026 data: only 12 institutional holders reported so far. The full shareholder list will grow as more funds file with the SEC.

Shareholders (13F)

Quarter: Q4 2025 · Compare: Q3 2025
13D/13G major owners: Ownership tab.
Methodology: Market value and % of portfolio use SEC reported VALUE ($000). For PUT/CALL positions this reflects reported underlying exposure, not premium cash paid/received. Details.
Rows: 0
Investor History Status Shares held Market value ($000) % of portfolio Previous % Rank Change in shares % change in shares Source Date reported
BlackRock, Inc. History Reduced 869,788 47,229 0.0% 0.0% 1 -12,479 -1.41% Q4 2025 Feb 12, 2026
DIMENSIONAL FUND ADVISORS LP History Reduced 499,376 27,116 0.01% 0.01% 2 -6,201 -1.23% Q4 2025 Feb 12, 2026
VANGUARD GROUP INC History Reduced 480,482 26,090 0.0% 0.0% 3 -1,199 -0.25% Q4 2025 Jan 29, 2026
FIRST BUSINESS FINANCIAL SERVICES, INC. History Reduced 361,311 19,619 1.8% 1.76% 4 -12,922 -3.45% Q4 2025 Feb 06, 2026
MANUFACTURERS LIFE INSURANCE COMPANY, THE History New 248,437 13,490 0.01% 5 +248,437 New Q4 2025 Feb 13, 2026
GEODE CAPITAL MANAGEMENT, LLC History Added to 235,050 12,765 0.0% 0.0% 6 +6,347 2.78% Q4 2025 Feb 09, 2026
AMERICAN CENTURY COMPANIES INC History Added to 217,010 11,783 0.01% 0.01% 7 +18,765 9.47% Q4 2025 Feb 13, 2026
BANC FUNDS CO LLC History Reduced 166,224 9,025 1.79% 1.73% 8 -27,300 -14.11% Q4 2025 Feb 12, 2026
STATE STREET CORP History Reduced 158,055 8,582 0.0% 0.0% 9 -906 -0.57% Q4 2025 Feb 13, 2026
Cutler Capital Management, LLC History Reduced 153,785 8,350 2.43% 2.54% 10 -1,708 -1.1% Q4 2025 Feb 13, 2026
Pacific Ridge Capital Partners, LLC History Reduced 140,455 7,626 1.67% 1.63% 11 -4,168 -2.88% Q4 2025 Feb 04, 2026
LSV ASSET MANAGEMENT History Added to 134,127 7,283 0.02% 0.01% 12 +9,738 7.83% Q4 2025 Feb 06, 2026
RENAISSANCE TECHNOLOGIES LLC History Reduced 128,265 6,964 0.01% 0.01% 13 -13,300 -9.39% Q4 2025 Feb 12, 2026
AQR CAPITAL MANAGEMENT LLC History Added to 105,951 5,753 0.0% 0.0% 14 +22,334 26.71% Q4 2025 Feb 17, 2026
FEDERATED HERMES, INC. History Added to 104,764 5,688 0.01% 0.01% 15 +32,899 45.78% Q4 2025 Feb 12, 2026
De Lisle Partners LLP History Added to 96,812 5,256 0.68% 0.59% 16 +3,172 3.39% Q4 2025 Feb 13, 2026
Hillsdale Investment Management Inc. History Reduced 83,071 4,510 0.12% 0.13% 17 -900 -1.07% Q4 2025 Feb 10, 2026
NORTHERN TRUST CORP History Reduced 75,556 4,102 0.0% 0.0% 18 -7,437 -8.96% Q4 2025 Feb 17, 2026
BRIDGEWAY CAPITAL MANAGEMENT, LLC History Added to 73,727 4,003 0.08% 0.08% 19 +1,666 2.31% Q4 2025 Feb 17, 2026
ALLIANCEBERNSTEIN L.P. History Reduced 70,334 3,819 0.0% 0.0% 20 -1,000 -1.4% Q4 2025 Feb 17, 2026
M3F, Inc. History Reduced 58,937 3,200 0.88% 0.97% 21 -7,540 -11.34% Q4 2025 Feb 13, 2026
VISTA INVESTMENT MANAGEMENT History Added to 52,737 2,863 0.94% 0.94% 22 +409 0.78% Q4 2025 Feb 17, 2026
GOLDMAN SACHS GROUP INC History Added to 52,595 2,855 0.0% 0.0% 23 +3,283 6.66% Q4 2025 Mar 25, 2026
Poehling Capital Management, INC. History Reduced 52,327 2,841 0.58% 0.63% 24 -6,000 -10.29% Q4 2025 Feb 06, 2026
MORGAN STANLEY History Added to 50,923 2,765 0.0% 0.0% 25 +10,354 25.52% Q4 2025 Feb 13, 2026
ACADIAN ASSET MANAGEMENT LLC History Added to 47,168 2,560 0.0% 0.0% 26 +1,264 2.75% Q4 2025 Feb 10, 2026
Rosenthal {-} Henry Capital Advisors, Inc. History No change 45,000 2,443 2.26% 2.22% 27 0 0.0% Q4 2025 Jan 28, 2026
AMERIPRISE FINANCIAL INC History Reduced 39,944 2,168 0.0% 0.0% 28 -9,565 -19.32% Q4 2025 Feb 17, 2026
Qube Research & Technologies Ltd History Added to 37,244 2,022 0.0% 0.0% 29 +2,666 7.71% Q4 2025 Feb 17, 2026
Uncommon Cents Investing LLC History Added to 34,743 1,886 0.46% 0.44% 30 +265 0.77% Q4 2025 Jan 15, 2026
MILLENNIUM MANAGEMENT LLC History Reduced 34,194 1,856 0.0% 0.0% 31 -5,980 -14.89% Q4 2025 Feb 17, 2026
Bank of New York Mellon Corp History Reduced 31,314 1,700 0.0% 0.0% 32 -2,952 -8.61% Q4 2025 Feb 10, 2026
ROYAL BANK OF CANADA History New 31,244 1,696 0.0% 33 +31,244 New Q4 2025 Feb 17, 2026
Daytona Street Capital LLC History New 30,790 1,671 1.3% 34 +30,790 New Q4 2025 Jan 21, 2026
GSA CAPITAL PARTNERS LLP History Added to 30,210 1,640 0.14% 0.05% 35 +18,083 149.11% Q4 2025 Feb 06, 2026
FIRST TRUST ADVISORS LP History Reduced 29,597 1,607 0.0% 0.0% 36 -661 -2.18% Q4 2025 Feb 13, 2026
BARCLAYS PLC History Added to 28,454 1,545 0.0% 0.0% 37 +1,665 6.22% Q4 2025 Feb 13, 2026
KENNEDY CAPITAL MANAGEMENT LLC History Added to 25,277 1,372 0.03% 0.02% 38 +5,752 29.46% Q4 2025 Feb 13, 2026
CHARLES SCHWAB INVESTMENT MANAGEMENT INC History Added to 24,675 1,339 0.0% 0.0% 39 +2,510 11.32% Q4 2025 Feb 13, 2026
Gator Capital Management, LLC History Added to 23,965 1,301 0.26% 0.31% 40 +165 0.69% Q4 2025 Feb 13, 2026
STIFEL FINANCIAL CORP History Added to 23,035 1,250 0.0% 0.0% 41 +272 1.19% Q4 2025 Feb 13, 2026
Baird Financial Group, Inc. History No change 21,240 1,153 0.0% 0.0% 42 0 0.0% Q4 2025 Feb 13, 2026
TWO SIGMA INVESTMENTS, LP History Reduced 19,691 1,069 0.0% 0.0% 43 -26,516 -57.39% Q4 2025 Feb 17, 2026
Nuveen, LLC History No change 18,897 1,026 0.0% 0.0% 44 0 0.0% Q4 2025 Feb 12, 2026
UBS Group AG History Added to 18,370 997 0.0% 0.0% 45 +8,686 89.69% Q4 2025 Jan 29, 2026
FRANKLIN RESOURCES INC History Reduced 18,097 982 0.0% 0.0% 46 -4,116 -18.53% Q4 2025 Feb 11, 2026
US BANCORP \DE\ History No change 17,884 971 0.0% 0.0% 47 0 0.0% Q4 2025 Jan 30, 2026
BANK OF AMERICA CORP /DE/ History Added to 17,645 958 0.0% 0.0% 48 +4,332 32.54% Q4 2025 Feb 17, 2026
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC History Added to 14,635 798 0.0% 0.0% 49 +298 2.08% Q4 2025 Jan 08, 2026
JPMORGAN CHASE & CO History Reduced 14,580 791 0.0% 0.0% 50 -1,605 -9.92% Q4 2025 Feb 11, 2026
Creative Planning History Added to 13,528 734 0.0% 0.0% 51 +403 3.07% Q4 2025 Feb 17, 2026
LAZARD ASSET MANAGEMENT LLC History Added to 12,461 676 0.0% 0.0% 52 +799 6.85% Q4 2025 Feb 17, 2026
Trexquant Investment LP History New 12,360 671 0.01% 53 +12,360 New Q4 2025 Feb 17, 2026
Connor, Clark & Lunn Investment Management Ltd. History Reduced 12,189 661 0.0% 0.0% 54 -220 -1.77% Q4 2025 Feb 10, 2026
PRINCIPAL FINANCIAL GROUP INC History Added to 11,377 617 0.0% 0.0% 55 +3,392 42.48% Q4 2025 Feb 02, 2026
Invesco Ltd. History Added to 11,215 608 0.0% 0.0% 56 +1,848 19.73% Q4 2025 Feb 19, 2026
Quantinno Capital Management LP History Added to 10,329 560 0.0% 0.0% 57 +5,010 94.19% Q4 2025 Feb 17, 2026
OSAIC HOLDINGS, INC. History Reduced 10,307 559 0.0% 0.0% 58 -277 -2.62% Q4 2025 Feb 17, 2026
RHUMBLINE ADVISERS History Reduced 9,707 527 0.0% 0.0% 59 -1,749 -15.27% Q4 2025 Feb 13, 2026
STATE OF WISCONSIN INVESTMENT BOARD History Added to 9,576 519 0.0% 0.0% 60 +3,761 64.68% Q4 2025 Feb 17, 2026
Kestra Advisory Services, LLC History No change 9,200 499 0.0% 0.0% 61 0 0.0% Q4 2025 Feb 13, 2026
Integrated Quantitative Investments LLC History New 9,182 498 0.11% 63 +9,182 New Q4 2025 Feb 12, 2026
AlphaQuest LLC History Added to 9,182 498 0.03% 62 +9,180 459000.0% Q4 2025 Feb 09, 2026
WELLS FARGO & COMPANY/MN History Added to 8,995 488 0.0% 0.0% 64 +2,874 46.95% Q4 2025 Feb 13, 2026
ALPS ADVISORS INC History Added to 8,878 482 0.0% 0.0% 65 +78 0.89% Q4 2025 Feb 12, 2026
Wealth Enhancement Trust Services, Inc. History New 8,510 462 0.06% 66 +8,510 New Q4 2025 Jan 27, 2026
Legato Capital Management LLC History New 8,404 456 0.04% 67 +8,404 New Q4 2025 Feb 06, 2026
IEQ CAPITAL, LLC History Added to 7,998 434 0.0% 0.0% 68 +873 12.25% Q4 2025 Feb 13, 2026
Mattern Wealth Management LLC History No change 8,000 434 0.08% 0.08% 69 0 0.0% Q4 2025 Jan 16, 2026
JACOBS LEVY EQUITY MANAGEMENT, INC History New 7,561 410 0.0% 70 +7,561 New Q4 2025 Feb 13, 2026
R Squared Ltd History New 7,168 389 0.18% 71 +7,168 New Q4 2025 Jan 30, 2026
DEUTSCHE BANK AG\ History No change 7,139 387 0.0% 0.0% 72 0 0.0% Q4 2025 Feb 11, 2026
MARTINGALE ASSET MANAGEMENT L P History No change 7,004 380 0.01% 0.01% 73 0 0.0% Q4 2025 Feb 13, 2026
1834 INVESTMENT ADVISORS CO History Added to 6,730 365 0.05% 0.04% 74 +36 0.54% Q4 2025 Jan 29, 2026
PRUDENTIAL FINANCIAL INC History Reduced 6,460 350 0.0% 0.0% 75 -1,330 -17.07% Q4 2025 Feb 13, 2026
CANADA PENSION PLAN INVESTMENT BOARD History New 6,400 347 0.0% 76 +6,400 New Q4 2025 Feb 17, 2026
Engineers Gate Manager LP History Reduced 6,177 335 0.0% 0.0% 77 -365 -5.58% Q4 2025 Feb 17, 2026
Russell Investments Group, Ltd. History Reduced 6,018 326 0.0% 0.0% 79 -69 -1.13% Q4 2025 Feb 17, 2026
THOMPSON INVESTMENT MANAGEMENT, INC. History No change 6,020 326 0.04% 0.04% 78 0 0.0% Q4 2025 Jan 14, 2026
HSBC HOLDINGS PLC History Reduced 5,390 290 0.0% 0.0% 80 -4,569 -45.88% Q4 2025 Mar 20, 2026
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP History New 5,287 287 0.0% 81 +5,287 New Q4 2025 Feb 13, 2026
Jump Financial, LLC History Reduced 5,113 277 0.0% 0.0% 82 -271 -5.03% Q4 2025 Feb 17, 2026
JANE STREET GROUP, LLC History New 5,061 274 0.0% 83 +5,061 New Q4 2025 Feb 12, 2026
CWM, LLC History Added to 4,927 268 0.0% 0.0% 84 +486 10.94% Q4 2025 Jan 26, 2026
PRICE T ROWE ASSOCIATES INC /MD/ History Added to 4,768 259 0.0% 0.0% 85 +586 14.01% Q4 2025 Feb 17, 2026
BEESE FULMER INVESTMENT MANAGEMENT, INC. History Added to 4,788 259 0.02% 0.02% 86 +38 0.8% Q4 2025 Feb 05, 2026
PANAGORA ASSET MANAGEMENT INC History No change 4,633 251 0.0% 0.0% 87 0 0.0% Q4 2025 Feb 13, 2026
MetLife Investment Management, LLC History No change 4,609 250 0.0% 0.0% 88 0 0.0% Q4 2025 Feb 12, 2026
ERn Financial, LLC History No change 4,615 250 0.05% 0.05% 89 0 0.0% Q4 2025 Jan 15, 2026
Quadrature Capital Ltd History New 4,604 249 0.0% 90 +4,604 New Q4 2025 Feb 17, 2026
OCCUDO QUANTITATIVE STRATEGIES LP History New 4,331 235 0.02% 91 +4,331 New Q4 2025 Feb 17, 2026
BNP PARIBAS FINANCIAL MARKETS History Reduced 4,291 233 0.0% 0.0% 92 -144 -3.25% Q4 2025 Feb 10, 2026
MERCER GLOBAL ADVISORS INC /ADV History New 4,029 218 0.0% 93 +4,029 New Q4 2025 Feb 18, 2026
NEW YORK STATE COMMON RETIREMENT FUND History No change 3,866 209 0.0% 0.0% 94 0 0.0% Q4 2025 Feb 12, 2026
EntryPoint Capital, LLC History Reduced 3,721 202 0.08% 0.09% 95 -591 -13.71% Q4 2025 Feb 12, 2026
Susquehanna Portfolio Strategies, LLC History Reduced 3,720 201 0.0% 0.0% 97 -1,681 -31.12% Q4 2025 Feb 17, 2026
CITIGROUP INC History Reduced 3,706 201 0.0% 0.0% 96 -751 -16.85% Q4 2025 Feb 13, 2026
Atlatl Advisers LLC History Reduced 3,700 200 0.08% 0.08% 98 -400 -9.76% Q4 2025 Feb 09, 2026
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. History Added to 3,664 198 0.0% 0.0% 99 +45 1.24% Q4 2025 Feb 17, 2026
Johnson Financial Group, Inc. History No change 3,260 177 0.01% 0.01% 100 0 0.0% Q4 2025 Feb 12, 2026
HARBOR CAPITAL ADVISORS, INC. History Added to 3,036 165 0.01% 0.01% 101 +160 5.56% Q4 2025 Jan 20, 2026
Eurizon Capital SGR S.p.A. History New 2,846 155 0.0% 102 +2,846 New Q4 2025 Feb 10, 2026
SG Americas Securities, LLC History New 2,751 149 0.0% 103 +2,751 New Q4 2025 Jan 09, 2026
Police & Firemen's Retirement System of New Jersey History Reduced 1,798 97 0.0% 0.0% 104 -719 -28.57% Q4 2025 Feb 13, 2026
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO History No change 1,529 83 0.0% 0.0% 105 0 0.0% Q4 2025 Feb 17, 2026
EverSource Wealth Advisors, LLC History Reduced 1,219 66 0.0% 0.0% 106 -65 -5.06% Q4 2025 Feb 06, 2026
FMR LLC History Added to 918 49 0.0% 0.0% 107 +294 47.12% Q4 2025 Feb 17, 2026
State of Alaska, Department of Revenue History Added to 905 48 0.0% 0.0% 108 +575 174.24% Q4 2025 Jan 23, 2026
Legal & General Group Plc History No change 724 39 0.0% 0.0% 109 0 0.0% Q4 2025 Feb 09, 2026
Versant Capital Management, Inc History Added to 676 36 0.0% 0.0% 110 +89 15.16% Q4 2025 Jan 08, 2026
Ameritas Investment Partners, Inc. History Reduced 645 35 0.0% 0.0% 111 -156 -19.48% Q4 2025 Feb 11, 2026
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM History Reduced 489 26 0.0% 0.0% 112 -83 -14.51% Q4 2025 Feb 17, 2026
Sterling Capital Management LLC History Reduced 433 23 0.0% 0.0% 113 -85 -16.41% Q4 2025 Feb 13, 2026
Rockefeller Capital Management L.P. History No change 392 21 0.0% 0.0% 114 0 0.0% Q4 2025 Mar 16, 2026
GAMMA Investing LLC History Reduced 309 16 0.0% 0.0% 115 -8 -2.52% Q4 2025 Jan 05, 2026
AMALGAMATED BANK History Reduced 250 14 0.0% 0.0% 116 -29 -10.39% Q4 2025 Feb 05, 2026
Tower Research Capital LLC (TRC) History Reduced 235 12 0.0% 0.0% 118 -136 -36.66% Q4 2025 Feb 17, 2026
QUADRANT CAPITAL GROUP LLC History Added to 223 12 0.0% 0.0% 119 +66 42.04% Q4 2025 Feb 13, 2026
HARBOUR INVESTMENTS, INC. History Added to 236 12 0.0% 0.0% 117 +1 0.43% Q4 2025 Feb 09, 2026
Covestor Ltd History Added to 198 11 0.01% 0.01% 120 +2 1.02% Q4 2025 Feb 06, 2026
IFP Advisors, Inc History Added to 174 9 0.0% 0.0% 121 +18 11.54% Q4 2025 Feb 06, 2026
SIGNATUREFD, LLC History Added to 151 8 0.0% 122 +138 1061.54% Q4 2025 Jan 20, 2026
Allworth Financial LP History New 135 7 0.0% 124 +135 New Q4 2025 Feb 05, 2026
WHITTIER TRUST CO History Reduced 131 7 0.0% 0.0% 123 -8 -5.76% Q4 2025 Jan 26, 2026
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC History New 94 5 0.0% 125 +94 New Q4 2025 Feb 13, 2026
Optiver Holding B.V. History No change 74 4 0.0% 0.0% 126 0 0.0% Q4 2025 Feb 17, 2026
Farther Finance Advisors, LLC History Added to 43 2 0.0% 127 +41 2050.0% Q4 2025 Jan 23, 2026
Smartleaf Asset Management LLC History New 35 1 0.0% 131 +35 New Q4 2025 Feb 13, 2026
ROTHSCHILD INVESTMENT LLC History Added to 25 1 0.0% 128 +15 150.0% Q4 2025 Feb 10, 2026
True Wealth Design, LLC History Added to 22 1 0.0% 130 +3 15.79% Q4 2025 Jan 08, 2026
PNC FINANCIAL SERVICES GROUP, INC. History No change 34 1 0.0% 0.0% 129 0 0.0% Q4 2025 Feb 06, 2026
Empowered Funds, LLC History Closed out 0 0 0.02% -36,661 -100.0% Q3 2025 Nov 13, 2025
TWO SIGMA ADVISERS, LP History Closed out 0 0 0.0% -15,100 -100.0% Q3 2025 Nov 14, 2025
Fourthstone LLC History Closed out 0 0 0.11% -12,131 -100.0% Q3 2025 Nov 14, 2025
CenterBook Partners LP History Closed out 0 0 0.03% -10,390 -100.0% Q3 2025 Nov 07, 2025
Semanteon Capital Management, LP History Closed out 0 0 0.33% -5,102 -100.0% Q3 2025 Nov 10, 2025
LOS ANGELES CAPITAL MANAGEMENT LLC History Closed out 0 0 0.0% -4,298 -100.0% Q3 2025 Oct 20, 2025
Arax Advisory Partners History Reduced 2 0 0.0% -4,102 -99.95% Q4 2025 Feb 13, 2026
VIRTUS ADVISERS, LLC History Closed out 0 0 0.06% -2,133 -100.0% Q3 2025 Feb 13, 2026
Wealthspire Advisors, LLC History Closed out 0 0 0.0% -1,800 -100.0% Q3 2025 Nov 14, 2025
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO History Closed out 0 0 0.0% -652 -100.0% Q3 2025 Nov 14, 2025
MACQUARIE GROUP LTD History Closed out 0 0 0.0% -370 -100.0% Q3 2025 Nov 13, 2025
Clearstead Advisors, LLC History Reduced 1 0 -10 -90.91% Q4 2025 Feb 09, 2026
SJS Investment Consulting Inc. History New 5 0 +5 New Q4 2025 Jan 21, 2026
MAI Capital Management History New 4 0 +4 New Q4 2025 Feb 13, 2026
Quarry LP History Closed out 0 0 -3 -100.0% Q3 2025 Nov 14, 2025
NISA INVESTMENT ADVISORS, LLC History No change 5 0 0 0.0% Q4 2025 Jan 15, 2026
ASSETMARK, INC History No change 8 0 0 0.0% Q4 2025 Jan 23, 2026
Physician Wealth Advisors, Inc. History No change 14 0 0 0.0% Q4 2025 Jan 29, 2026