13F HOLDINGS REPORT
FIRST BUSINESS FINANCIAL SERVICES, INC.
Quarter ended Q4 2024 · Filed February 6, 2025 · Accession 0001140361-25-003418
Total Value
$1.01B
Positions
162
Other Managers
0
Confidential Omitted
No
Holdings (162)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Vanguard Total Stock Market ET | 922908769 | 878,973 | $254.7M | 25.19% |
| 2 | iShares Core MSCI EAFE ETF | 46432F842 | 1,664,076 | $117.0M | 11.56% |
| 3 | iShares Russell 1000 Growth ET | 464287614 | 203,157 | $81.6M | 8.07% |
| 4 | iShares Core S&P Small-Cap ETF | 464287804 | 533,412 | $61.5M | 6.08% |
| 5 | iShares Core Dividend Growth | 46434V621 | 904,501 | $55.5M | 5.49% |
| 6 | iShares Russell 1000 Value ETF | 464287598 | 287,455 | $53.2M | 5.26% |
| 7 | iShares Core S&P Mid-Cap ETF | 464287507 | 754,722 | $47.0M | 4.65% |
| 8 | iShares Core US Aggregate Bond | 464287226 | 416,621 | $40.4M | 3.99% |
| 9 | SPDR S&P 500 ETF | SPY | 42,830 | $25.1M | 2.48% |
| 10 | First Business Financial Servi | 319390100 | 376,088 | $17.4M | 1.72% |
| 11 | Apple Inc | AAPL | 58,728 | $14.7M | 1.45% |
| 12 | Nvidia Corp | NVDA | 84,189 | $11.3M | 1.12% |
| 13 | JPMorgan Ultra-Short Income ET | 46641Q837 | 206,520 | $10.4M | 1.03% |
| 14 | Broadcom Inc | AVGO | 38,053 | $8.8M | 0.87% |
| 15 | Microsoft Corp | MSFT | 18,548 | $7.8M | 0.77% |
| 16 | JPMorgan Chase & Co | VYLD | 31,355 | $7.5M | 0.74% |
| 17 | Alphabet Inc Cap Stk Cl A | GOOG | 37,275 | $7.1M | 0.70% |
| 18 | Arista Networks Inc | ANET | 59,415 | $6.6M | 0.65% |
| 19 | Caterpillar Inc | CAT | 14,667 | $5.3M | 0.53% |
| 20 | Lilly Eli Co | LLY | 6,015 | $4.6M | 0.46% |
| 21 | MGE Energy Inc | MGEE | 45,584 | $4.3M | 0.42% |
| 22 | iShares National Muni Bond ETF | 464288414 | 40,162 | $4.3M | 0.42% |
| 23 | Deere & Co Com | DE | 10,040 | $4.3M | 0.42% |
| 24 | iShares Edge MSCI USA Momentum | 46432F396 | 20,335 | $4.2M | 0.42% |
| 25 | Quanta Services Inc | 74762E102 | 12,794 | $4.0M | 0.40% |
| 26 | Costco Wholesale Corp | 22160K105 | 4,180 | $3.8M | 0.38% |
| 27 | iShares S&P 500 Core | 464287200 | 5,873 | $3.5M | 0.34% |
| 28 | T Mobile US Inc | TMUSZ | 14,830 | $3.3M | 0.32% |
| 29 | Stryker Corp | SYK | 8,905 | $3.2M | 0.32% |
| 30 | Technology Select Sector SPDR | 81369Y803 | 13,285 | $3.1M | 0.31% |
| 31 | Cisco Systems Inc | CSCO | 52,106 | $3.1M | 0.30% |
| 32 | CENCORA INC | COR | 13,585 | $3.1M | 0.30% |
| 33 | Exxon Mobil Corp | XOM | 27,646 | $3.0M | 0.29% |
| 34 | Citigroup Inc | C-PR | 41,999 | $3.0M | 0.29% |
| 35 | Analog Devices Inc | ADI | 13,224 | $2.8M | 0.28% |
| 36 | Bank of America Corp | 060505104 | 60,947 | $2.7M | 0.26% |
| 37 | Equinix Inc | EQIX | 2,809 | $2.6M | 0.26% |
| 38 | Republic Services Inc | 760759100 | 12,708 | $2.6M | 0.25% |
| 39 | General Dynamics Corp | GD | 9,574 | $2.5M | 0.25% |
| 40 | Corteva Inc Com | CTVA | 42,064 | $2.4M | 0.24% |
| 41 | Texas Instruments Inc | 882508104 | 12,642 | $2.4M | 0.23% |
| 42 | TJX Companies Inc | 872540109 | 19,561 | $2.4M | 0.23% |
| 43 | Energy Select Sector SPDR ETF | 81369Y506 | 27,252 | $2.3M | 0.23% |
| 44 | Intercontinental Exchange Inc | 45866F104 | 15,620 | $2.3M | 0.23% |
| 45 | Electronic Arts Inc | EA | 15,886 | $2.3M | 0.23% |
| 46 | UnitedHealth Group Inc | UNH | 4,437 | $2.2M | 0.22% |
| 47 | Walt Disney Company | 254687106 | 19,791 | $2.2M | 0.22% |
| 48 | Prudential Financial Inc | PUKPF | 18,528 | $2.2M | 0.22% |
| 49 | Lowe's Companies Inc | 548661107 | 8,802 | $2.2M | 0.21% |
| 50 | Lam Research Corporation | LRCX | 29,585 | $2.1M | 0.21% |
| 51 | Darden Restaurants Inc | DRI | 11,247 | $2.1M | 0.21% |
| 52 | CSX Corp Com | CSX | 59,840 | $1.9M | 0.19% |
| 53 | Expedia Group Inc New | EXPE | 10,355 | $1.9M | 0.19% |
| 54 | Iqvia Holdings Inc | IQV | 9,806 | $1.9M | 0.19% |
| 55 | Ciena Corp | CIEN | 22,474 | $1.9M | 0.19% |
| 56 | Amazon.com Inc | AMZN | 8,654 | $1.9M | 0.19% |
| 57 | Industrials Select Sector SPDR | 81369Y704 | 14,013 | $1.8M | 0.18% |
| 58 | iShares Russell 1000 ETF | 464287622 | 5,578 | $1.8M | 0.18% |
| 59 | Nextera Energy Inc | NEE-PW | 24,674 | $1.8M | 0.17% |
| 60 | Hilton Worldwide Hldgs Inc | HLT | 7,090 | $1.8M | 0.17% |
| 61 | Lululemon Athletica Inc | LULU | 4,215 | $1.6M | 0.16% |
| 62 | Kroger Co | KR | 25,668 | $1.6M | 0.16% |
| 63 | Qualcomm Inc | QCOM | 10,172 | $1.6M | 0.15% |
| 64 | Schlumberger Ltd | SLB | 40,154 | $1.5M | 0.15% |
| 65 | Coca-Cola Co | KO | 23,945 | $1.5M | 0.15% |
| 66 | Accenture PLC | ACN | 4,167 | $1.5M | 0.14% |
| 67 | Alphabet Inc Cap Stk Cl C | GOOG | 7,476 | $1.4M | 0.14% |
| 68 | EOG Res Inc | EOG | 11,605 | $1.4M | 0.14% |
| 69 | Thermo Fisher Scientific Inc | TMO | 2,659 | $1.4M | 0.14% |
| 70 | Spdr Gold Trust Shs | GLD | 5,500 | $1.3M | 0.13% |
| 71 | Abbvie Inc Com | ABBV | 7,409 | $1.3M | 0.13% |
| 72 | iShares Russell 2000 | 464287655 | 5,923 | $1.3M | 0.13% |
| 73 | Adobe Inc | ADBE | 2,862 | $1.3M | 0.13% |
| 74 | Consumer Discr Select Sect SPD | 81369Y407 | 5,651 | $1.3M | 0.13% |
| 75 | Philip Morris International In | 718172109 | 10,487 | $1.3M | 0.12% |
| 76 | Procter & Gamble Co | 742718109 | 7,490 | $1.3M | 0.12% |
| 77 | Vanguard Small-Cap ETF | 922908751 | 5,129 | $1.2M | 0.12% |
| 78 | Financial Select Sector SPDR E | 81369Y605 | 24,095 | $1.2M | 0.12% |
| 79 | Ameren Corporation | AEE | 11,155 | $994,357 | 0.10% |
| 80 | Vanguard Communication SVCS ET | 92204A884 | 6,200 | $960,752 | 0.09% |
| 81 | Merck & Co Inc | MRK | 9,469 | $941,976 | 0.09% |
| 82 | Alliant Energy Corp | LNT | 15,614 | $923,412 | 0.09% |
| 83 | iShares Russell 2000 Growth | 464287648 | 3,132 | $901,452 | 0.09% |
| 84 | Nuveen ESG Large Cap Value | NU | 21,653 | $852,479 | 0.08% |
| 85 | Blackrock Inc New | BLK | 830 | $850,841 | 0.08% |
| 86 | Illinois Tool Works Inc | 452308109 | 3,331 | $844,608 | 0.08% |
| 87 | Transdigm Group Inc | TDG | 652 | $826,267 | 0.08% |
| 88 | Pepsico Inc | PEP | 5,408 | $822,340 | 0.08% |
| 89 | Chevron Corp | CVX | 5,629 | $815,304 | 0.08% |
| 90 | Mondelez Intl Inc Class A | 609207105 | 13,060 | $780,074 | 0.08% |
| 91 | Berkshire Hathaway INC-CL B | BRK-A | 1,706 | $773,296 | 0.08% |
| 92 | iShares Edge MSCI Min Vol USA | 46429B697 | 8,694 | $771,940 | 0.08% |
| 93 | Johnson & Johnson | JNJ | 5,324 | $769,957 | 0.08% |
| 94 | iShares Russell 2000 Value | 464287630 | 4,604 | $755,839 | 0.07% |
| 95 | Palantir Technologies Inc | PLTR | 9,991 | $755,619 | 0.07% |
| 96 | Vanguard Mid-Cap ETF | 922908629 | 2,832 | $748,016 | 0.07% |
| 97 | Allegheny Technologies Inc | ATI | 13,455 | $740,563 | 0.07% |
| 98 | Wal-Mart Inc | WMT | 8,056 | $727,860 | 0.07% |
| 99 | Tetra Tech Inc New | TTEK | 17,555 | $699,391 | 0.07% |
| 100 | Eaton Corp PLC | ETN | 2,062 | $684,316 | 0.07% |
| 101 | Communication Sector Select SP | 81369Y852 | 7,057 | $683,188 | 0.07% |
| 102 | Home Depot Inc | HD | 1,716 | $667,507 | 0.07% |
| 103 | McDonald's Corp | MCD | 2,289 | $663,558 | 0.07% |
| 104 | Intuitive Surgical Inc | ISRG | 1,251 | $652,972 | 0.06% |
| 105 | PNC Financial Services Group I | 693475105 | 3,341 | $644,312 | 0.06% |
| 106 | Thomson Reuters Corp. | TMSOF | 3,942 | $632,218 | 0.06% |
| 107 | Southern Company | SOMN | 7,490 | $616,577 | 0.06% |
| 108 | Vanguard Index Growth | 922908736 | 1,502 | $616,481 | 0.06% |
| 109 | Abbott Laboratories | ABLZF | 5,443 | $615,658 | 0.06% |
| 110 | US Bancorp | USB-PS | 12,571 | $601,271 | 0.06% |
| 111 | Aon PLC Shs Cl A | AON | 1,632 | $586,149 | 0.06% |
| 112 | Ameriprise Financial Inc | 03076C106 | 1,093 | $581,946 | 0.06% |
| 113 | Meta Platforms Inc | META | 938 | $549,208 | 0.05% |
| 114 | SPDRA S&P MidCap 400 ETF | MDY | 917 | $522,305 | 0.05% |
| 115 | Weyco Group Inc | WEYS | 13,096 | $491,755 | 0.05% |
| 116 | Douglas Dynamics Inc | PLOW | 20,000 | $472,600 | 0.05% |
| 117 | Mastercard Inc Cl A | MA | 885 | $466,014 | 0.05% |
| 118 | Vanguard Index Value | 922908744 | 2,689 | $455,248 | 0.05% |
| 119 | Servicenow Inc | NOW | 428 | $453,731 | 0.04% |
| 120 | Corning Inc | GLW | 9,519 | $452,343 | 0.04% |
| 121 | American Express CO | AXP | 1,468 | $435,688 | 0.04% |
| 122 | Advanced Micro Devices Inc | AMD | 3,331 | $402,351 | 0.04% |
| 123 | Toro Co | TORO | 5,000 | $400,500 | 0.04% |
| 124 | TE Connectivity PLC ADR | TEL | 2,800 | $400,316 | 0.04% |
| 125 | iShares MSCI EAFE ETF | 464287465 | 5,128 | $387,728 | 0.04% |
| 126 | Duke Energy Corp | DUKB | 3,566 | $384,201 | 0.04% |
| 127 | Visa Inc | V | 1,200 | $379,248 | 0.04% |
| 128 | Amdocs Ltd ADR | DOX | 4,450 | $378,873 | 0.04% |
| 129 | Cintas Corporation | CTAS | 2,064 | $377,093 | 0.04% |
| 130 | Altria Group Inc | MO | 7,116 | $372,096 | 0.04% |
| 131 | Union Pacific Corp | UNP | 1,619 | $369,197 | 0.04% |
| 132 | Marvell Technology Group LTD | MRVL | 3,136 | $346,371 | 0.03% |
| 133 | ADMA Biologics Inc | ADMA | 20,000 | $343,000 | 0.03% |
| 134 | Waste Mgmt Inc Del | 94106L109 | 1,657 | $334,366 | 0.03% |
| 135 | Vanguard Information Technolog | 92204A702 | 519 | $322,714 | 0.03% |
| 136 | Fidelity National Information | 31620M106 | 3,963 | $320,092 | 0.03% |
| 137 | Vanguard FTSE Developed Market | 921943858 | 6,514 | $311,499 | 0.03% |
| 138 | iShares MSCI ACWI ex US | 464288240 | 5,905 | $308,005 | 0.03% |
| 139 | Cummins Inc | CMI | 864 | $301,190 | 0.03% |
| 140 | McKesson Corp | MCK | 523 | $298,063 | 0.03% |
| 141 | Paypal Hldgs Inc | PYPL | 3,449 | $294,372 | 0.03% |
| 142 | Arthur J. Gallagher & Co | 363576109 | 1,037 | $294,352 | 0.03% |
| 143 | The Charles Schwab Corp | SCHW-PJ | 3,931 | $290,933 | 0.03% |
| 144 | Parker Hannifin Corp | PH | 455 | $289,394 | 0.03% |
| 145 | Xcel Energy Inc. | XELLL | 4,277 | $288,783 | 0.03% |
| 146 | Ark Innovation | 00214Q104 | 5,057 | $287,086 | 0.03% |
| 147 | Nice Ltd Sponsored ADR | NCSYF | 1,625 | $275,990 | 0.03% |
| 148 | Oracle Corp | ORCL-PD | 1,609 | $268,124 | 0.03% |
| 149 | Nike Inc | NKE | 3,522 | $266,510 | 0.03% |
| 150 | Ishares Tr Global Tech ETF | 464287291 | 3,143 | $266,369 | 0.03% |
| 151 | Novo Nordisk A/S ADR | NONOF | 2,964 | $254,963 | 0.03% |
| 152 | Rockwell Automation Inc | ROK | 867 | $247,780 | 0.02% |
| 153 | Charles River Labs Intl | 159864107 | 1,300 | $239,980 | 0.02% |
| 154 | International Business Machine | INTR | 1,030 | $226,425 | 0.02% |
| 155 | Morgan Stanley | MS-PQ | 1,762 | $221,519 | 0.02% |
| 156 | Honeywell International Inc | 438516106 | 957 | $216,177 | 0.02% |
| 157 | Microchip Technology Inc | MCHPP | 3,762 | $215,751 | 0.02% |
| 158 | Starbucks Corp | SBUX | 2,357 | $215,076 | 0.02% |
| 159 | Danaher Corp | 235851102 | 933 | $214,170 | 0.02% |
| 160 | Wisdomtree Tr US Qtly Div Grt | WT | 2,543 | $205,805 | 0.02% |
| 161 | Ford Motor Co | 345370860 | 18,193 | $180,111 | 0.02% |
| 162 | iShares Global Clean Energy ET | 464288224 | 10,183 | $115,883 | 0.01% |