SEC 13F Intelligence

Managers / Q1 2026

FIRST BUSINESS FINANCIAL SERVICES, INC.

CIK 0001521951 · 401 CHARMANY DRIVE, MADISON, WI, 53719 · 608-238-8008

Reported Value
$1.1B
Q1 2026
Positions
192
Filings on Record
31
2019–present window
Filed
May 1, 2026
original filing

Summary

First Business Financial Services, Inc. reported $1.1B in U.S.-listed holdings across 192 positions for Q1 2026.

The portfolio is heavily concentrated: VTI alone accounts for 22.7% of reported value.

Compared with Q4 2025, the fund opened 27 new positions and exited 3.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $588MQ4 ’18Q1 ’19: $561MQ2 ’19: $576MQ3 ’19: $585MQ4 ’19: $632MQ4 ’19Q1 ’20: $502MQ2 ’20: $558MQ3 ’20: $599MQ4 ’20: $688MQ4 ’20Q1 ’21: $753MQ2 ’21: $855MQ3 ’21: $874MQ4 ’21: $945MQ4 ’21Q1 ’22: $904MQ2 ’22: $742MQ3 ’22: $700MQ4 ’22: $744MQ4 ’22Q1 ’23: $797MQ2 ’23: $811MQ3 ’23: $785MQ4 ’23: $860MQ4 ’23Q1 ’24: $933MQ2 ’24: $943MQ3 ’24: $999MQ4 ’24: $1.0BQ4 ’24Q1 ’25: $1.0BQ2 ’25: $1.1BQ3 ’25: $1.1BQ4 ’25: $1.1BQ4 ’25Q1 ’26: $1.1Bfilingsflow.com

Portfolio Composition

By security type

Composition data arrives with ticker enrichment.

Quarter-over-Quarter Changes full breakdown →

Holdings — Q1 2026

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#IssuerClass% PortfolioValueShares

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.1B192May 1, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.1B168Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.1B185Oct 30, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.1B185Jul 31, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.0B170May 2, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.0B162Feb 6, 202513F-HRchanges · EDGAR ↗
Q3 2024$999M159Nov 6, 202413F-HRchanges · EDGAR ↗
Q2 2024$943M157Aug 2, 202413F-HRchanges · EDGAR ↗
Q1 2024$933M165May 15, 2024RESTATEMENTchanges · EDGAR ↗
Q4 2023$860M162Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$785M168Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$811M167Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$797M168May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$744M163Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$700M161Nov 15, 202213F-HRchanges · EDGAR ↗
Q2 2022$742M159Aug 2, 202213F-HRchanges · EDGAR ↗
Q1 2022$904M171May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$945M170Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$874M156Oct 26, 202113F-HRchanges · EDGAR ↗
Q2 2021$855M155Jul 20, 202113F-HRchanges · EDGAR ↗
Q1 2021$753M134Apr 20, 202113F-HRchanges · EDGAR ↗
Q4 2020$688M125Jan 28, 202113F-HRchanges · EDGAR ↗
Q3 2020$599M123Nov 4, 202013F-HRchanges · EDGAR ↗
Q2 2020$558M121Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$502M115May 1, 202013F-HRchanges · EDGAR ↗
Q4 2019$632M124Feb 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$585M118Nov 5, 201913F-HRchanges · EDGAR ↗
Q2 2019$576M117Jul 24, 201913F-HRchanges · EDGAR ↗
Q1 2019$561M105May 3, 201913F-HRchanges · EDGAR ↗
Q4 2018$588M154Feb 6, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.