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Portfolio (Quarterly) Guide ↗

First Business Financial Services, Inc.

· CIK 0001521951
13F Portfolio $1.1B AUM 192 positions Filed May 1, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 27 New 84 Added 11 Reduced 3 Exited
Page 2 of 10  ·  192 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 VTIP Vanguard Short-Term Inflation 132,822.0 $6.6M 0.59% NEW $49.95 +0.9%
22 LRCX Lam Research Corporation Technology 30,841.0 $6.6M 0.59% +4K +14.8% $213.66 +45.5%
23 LLY Lilly Eli Co Healthcare 6,416.0 $5.9M 0.53% +697.0 +12.2% $919.77 +21.6%
24 MUB iShares National Muni Bond ETF 52,980.0 $5.6M 0.50% +8K +17.4% $106.15 +0.7%
25 XOM Exxon Mobil Corp Energy 29,246.0 $5.0M 0.44% +2K +8.7% $169.66 -12.0%
26 MTUM iShares Edge MSCI USA Momentum 20,335.0 $4.9M 0.43% $239.99 +29.6%
27 XLK State Street Technology Select 36,498.0 $4.9M 0.43% $132.90 +38.8%
28 CENCORA INC 15,341.0 $4.8M 0.43% +2K +11.6% $314.14
29 COST Costco Wholesale Corp Consumer Defensive 4,649.0 $4.6M 0.41% +441.0 +10.5% $996.43 +0.8%
30 C Citigroup Inc Financial Services 40,051.0 $4.5M 0.40% +4K +11.5% $113.41 +9.9%
31 Berkshire Hathaway Inc Class A 6.0 $4.3M 0.38% $718140.00
32 ADI Analog Devices Inc Technology 13,374.0 $4.3M 0.38% +1K +11.8% $318.14 +28.3%
33 IVV iShares S&P 500 Core 6,474.0 $4.2M 0.38% +601.0 +10.2% $653.21 +15.4%
34 BAC Bank of America Corp Financial Services 77,650.0 $3.8M 0.34% +6K +8.9% $48.75 +4.9%
35 TMUS T Mobile US Inc Communication Services 16,904.0 $3.6M 0.32% +3K +19.9% $210.03 -8.8%
36 GD General Dynamics Corp Industrials 9,862.0 $3.4M 0.30% +1K +11.8% $343.22 +0.9%
37 XLE State Street Energy Select Sec 54,244.0 $3.3M 0.29% $61.26 -6.4%
38 NUE Nucor Corp Basic Materials 19,645.0 $3.3M 0.29% +2K +10.3% $169.10 +43.6%
39 EQIX Equinix Inc Real Estate 3,297.0 $3.2M 0.29% +350.0 +11.9% $980.24 +8.6%
40 SYK Stryker Corp Healthcare 9,665.0 $3.2M 0.28% +976.0 +11.2% $328.59 -5.9%
Page 2 of 10  ·  192 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 32.2%
Financial Services 27.5%
Communication Services 8.4%
Industrials 8.1%
Consumer Cyclical 5.8%
Consumer Defensive 5.3%
Healthcare 5.1%
Energy 2.8%
Utilities 2.7%
Real Estate 1.1%