1y return+22.6%S&P 500 +20.9%
3y return+60.9%S&P 500 +68.5%
5y return+53.0%S&P 500 +74.5%
10y return+158.4%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $258 against $357 in the S&P 500.2
First Business Financial Services, Inc.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VTIVanguard Total Stock Market ET | $294.1M | 22.8% | |
| IEFAiShares Core MSCI EAFE ETF | $151.4M | 11.7% | |
| IWFiShares Russell 1000 Growth ET | $90.9M | 7.0% | |
| IJRiShares Core S&P Small-Cap ETF | $74.5M | 5.8% | |
| IWDiShares Russell 1000 Value ETF | $64.4M | 5.0% | |
| DGROiShares Core Dividend Growth | $63.6M | 4.9% | |
| IJHiShares Core S&P Mid-Cap ETF | $54.9M | 4.3% | |
| AGGiShares Core US Aggregate Bond | $38.5M | 3.0% | +3.4% |
| SPYState Street SPDR S&P 500 ETF | $32.6M | 2.5% | |
| FBIZFirst Business Financial Servi | $21.5M | 1.7% | −5.8% |
| NVDANvidia Corp | $20.5M | 1.6% | +2.6% |
| JPSTJPMorgan Ultra-Short Income ET | $18.4M | 1.4% | +4.0% |
| AAPLApple Inc | $17.3M | 1.3% | |
| AVGOBroadcom Inc | $15.6M | 1.2% | |
| GOOGLAlphabet Inc Cap Stk Cl A | $15.6M | 1.2% | +3.4% |
| CIENCiena Corp | $14.1M | 1.1% | −4.1% |
| LRCXLam Research Corporation | $14.1M | 1.1% | +5.4% |
| JPMJPMorgan Chase & Co | $11.8M | 0.9% | +2.2% |
| ANETArista Networks Inc | $11.7M | 0.9% | +3.9% |
| PWRQuanta Services Inc | $11.2M | 0.9% | |
| LLYLilly Eli Co | $8.0M | 0.6% | +3.5% |
| VTIPVanguard Short-Term Inflation | $7.5M | 0.6% | +13.1% |
| MTUMiShares Edge MSCI USA Momentum | $7.0M | 0.5% | |
| MSFTMicrosoft Corp | $7.0M | 0.5% | +3.3% |
| XLKState Street Technology Select | $7.0M | 0.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| PWRQuanta Services Inc | June 30, 2020 | +1735.6% | $11.2M |
| NVDANvidia Corp | September 30, 2020 | +1378.8% | $20.5M |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $15.6M |
| CIENCiena Corp | June 30, 2023 | +1054.5% | $14.1M |
| LLYLilly Eli Co | June 30, 2020 | +630.6% | $8.0M |
| LRCXLam Research Corporation | December 31, 2024 | +499.9% | $14.1M |
| GOOGLAlphabet Inc Cap Stk Cl A | June 30, 2020 | +404.0% | $15.6M |
| FBIZFirst Business Financial Servi | June 30, 2020 | +284.1% | $21.5M |
| XLKState Street Technology Select | June 30, 2020 | +264.7% | $7.0M |
| JPMJPMorgan Chase & Co | June 30, 2020 | +248.0% | $11.8M |
Sold off last quarter
- Thomson Reuters Corp.CUSIP 884903808 was $355K
- SIVRAbrdn Physical Silver Shares E was $226K
- DISWalt Disney Company was $220K
- SHELShell Plc ADR was $210K
- UAUnder Armour Inc was $116K
- DNNDenison Mines Corp. was $35K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +13.0% | +14.8% |
| March 31, 2026 | −1.5% | −4.6% |
| December 31, 2025 | +2.6% | +2.4% |
| September 30, 2025 | +7.4% | +7.8% |
| June 30, 2025 | +9.1% | +10.5% |
| March 31, 2025 | −3.0% | −4.6% |
| December 31, 2024 | −0.1% | +2.1% |
| September 30, 2024 | +6.4% | +5.4% |
| June 30, 2024 | +1.3% | +4.0% |
| March 31, 2024 | +7.7% | +10.0% |
| December 31, 2023 | +11.1% | +11.2% |
| September 30, 2023 | −3.7% | −3.6% |
| June 30, 2023 | +5.1% | +8.3% |
| March 31, 2023 | +4.9% | +7.0% |
| December 31, 2022 | +8.8% | +7.1% |
| September 30, 2022 | −5.8% | −5.3% |
| June 30, 2022 | −15.6% | −16.5% |
| March 31, 2022 | −5.8% | −4.9% |
| December 31, 2021 | +6.3% | +10.7% |
| September 30, 2021 | −0.5% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: First Business Financial Services, Inc. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1521951&type=13F-HR&dateb=&owner=include&count=40CIK 1521951
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1521951/000114036126029854/Filed July 28, 2026 · accession 0001140361-26-029854