13F HOLDINGS REPORT
FIRST BUSINESS FINANCIAL SERVICES, INC.
Quarter ended Q4 2023 · Filed November 14, 2023 · Accession 0001521951-23-000093
Total Value
$784.8M
Positions
168
Other Managers
0
Confidential Omitted
No
Holdings (168)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Vanguard Total Stock Market ET | 922908769 | 889,751 | $189.0M | 24.08% |
| 2 | iShares Core MSCI EAFE ETF | 46432F842 | 1,635,060 | $105.2M | 13.41% |
| 3 | iShares Russell 1000 Growth ET | 464287614 | 211,685 | $56.3M | 7.17% |
| 4 | iShares Core S&P Small-Cap ETF | 464287804 | 547,866 | $51.7M | 6.59% |
| 5 | iShares Core Dividend Growth | 46434V621 | 900,290 | $44.6M | 5.68% |
| 6 | iShares Russell 1000 Value ETF | 464287598 | 282,486 | $42.9M | 5.46% |
| 7 | iShares Core US Aggregate Bond | 464287226 | 449,896 | $42.3M | 5.39% |
| 8 | iShares Core S&P Mid-Cap ETF | 464287507 | 150,323 | $37.5M | 4.78% |
| 9 | SPDR S&P 500 ETF | SPY | 44,443 | $19.0M | 2.42% |
| 10 | First Business Financial Servi | 319390100 | 355,552 | $10.7M | 1.36% |
| 11 | JPMorgan Ultra-Short Income ET | 46641Q837 | 209,944 | $10.5M | 1.34% |
| 12 | Apple Inc | AAPL | 54,438 | $9.3M | 1.19% |
| 13 | Alphabet Inc Cap Stk Cl A | GOOG | 41,614 | $5.4M | 0.69% |
| 14 | Microsoft Corp | MSFT | 14,559 | $4.6M | 0.59% |
| 15 | JPMorgan Chase & Co | VYLD | 29,373 | $4.3M | 0.54% |
| 16 | Fiserv Inc | FISV | 36,457 | $4.1M | 0.52% |
| 17 | Lilly Eli Co | LLY | 6,467 | $3.5M | 0.44% |
| 18 | Pepsico Inc | PEP | 18,154 | $3.1M | 0.39% |
| 19 | Broadcom Inc | AVGO | 3,592 | $3.0M | 0.38% |
| 20 | iShares Edge MSCI USA Momentum | 46432F396 | 20,335 | $2.8M | 0.36% |
| 21 | iShares S&P 500 Core | 464287200 | 6,356 | $2.7M | 0.35% |
| 22 | Cisco Systems Inc | CSCO | 48,884 | $2.6M | 0.33% |
| 23 | Energy Select Sector SPDR ETF | 81369Y506 | 27,508 | $2.5M | 0.32% |
| 24 | Arista Networks Inc | ANET | 12,897 | $2.4M | 0.30% |
| 25 | Analog Devices Inc | ADI | 12,952 | $2.3M | 0.29% |
| 26 | Accenture PLC | ACN | 7,380 | $2.3M | 0.29% |
| 27 | Versus Capital Real Assets Fun | 92535N100 | 81,295 | $2.2M | 0.28% |
| 28 | Technology Select Sector SPDR | 81369Y803 | 13,385 | $2.2M | 0.28% |
| 29 | Adobe Inc | ADBE | 4,156 | $2.1M | 0.27% |
| 30 | CENCORA INC | COR | 11,713 | $2.1M | 0.27% |
| 31 | Quanta Services Inc | 74762E102 | 11,195 | $2.1M | 0.27% |
| 32 | UnitedHealth Group Inc | UNH | 4,078 | $2.1M | 0.26% |
| 33 | Abbvie Inc Com | ABBV | 13,717 | $2.0M | 0.26% |
| 34 | Coca-Cola Co | KO | 36,287 | $2.0M | 0.26% |
| 35 | Amazon.com Inc | AMZN | 15,755 | $2.0M | 0.26% |
| 36 | Amgen Inc | AMGN | 7,399 | $2.0M | 0.25% |
| 37 | Home Depot Inc | HD | 6,402 | $1.9M | 0.25% |
| 38 | Schlumberger Ltd | SLB | 32,538 | $1.9M | 0.24% |
| 39 | McDonald's Corp | MCD | 7,188 | $1.9M | 0.24% |
| 40 | Elevance Health INC | ELV | 4,297 | $1.9M | 0.24% |
| 41 | T Mobile US Inc | TMUSZ | 12,759 | $1.8M | 0.23% |
| 42 | Nvidia Corp | NVDA | 4,090 | $1.8M | 0.23% |
| 43 | Lam Research Corporation | LRCX | 2,829 | $1.8M | 0.23% |
| 44 | Texas Instruments Inc | 882508104 | 10,774 | $1.7M | 0.22% |
| 45 | Stryker Corp | SYK | 6,135 | $1.7M | 0.21% |
| 46 | Johnson & Johnson | JNJ | 10,723 | $1.7M | 0.21% |
| 47 | Exxon Mobil Corp | XOM | 14,172 | $1.7M | 0.21% |
| 48 | Costco Wholesale Corp | 22160K105 | 2,941 | $1.7M | 0.21% |
| 49 | Procter & Gamble Co | 742718109 | 11,344 | $1.7M | 0.21% |
| 50 | Prudential Financial Inc | PUKPF | 17,263 | $1.6M | 0.21% |
| 51 | Lowe's Companies Inc | 548661107 | 7,806 | $1.6M | 0.21% |
| 52 | TJX Companies Inc | 872540109 | 18,177 | $1.6M | 0.21% |
| 53 | Iqvia Holdings Inc | IQV | 8,181 | $1.6M | 0.21% |
| 54 | Electronic Arts Inc | EA | 13,248 | $1.6M | 0.20% |
| 55 | Bank Of America Corp | 060505104 | 56,877 | $1.6M | 0.20% |
| 56 | Republic Services Inc | 760759100 | 10,876 | $1.5M | 0.20% |
| 57 | CSX Corp Com | CSX | 49,713 | $1.5M | 0.19% |
| 58 | Intercontinental Exchange Inc | 45866F104 | 13,296 | $1.5M | 0.19% |
| 59 | Industrials Select Sector SPDR | 81369Y704 | 14,013 | $1.4M | 0.18% |
| 60 | Paychex Inc | PAYX | 11,936 | $1.4M | 0.18% |
| 61 | Walt Disney Company | 254687106 | 16,514 | $1.3M | 0.17% |
| 62 | iShares Russell 1000 ETF | 464287622 | 5,578 | $1.3M | 0.17% |
| 63 | Darden Restaurants Inc | DRI | 8,967 | $1.3M | 0.16% |
| 64 | Corteva Inc Com | CTVA | 23,821 | $1.2M | 0.16% |
| 65 | Vanguard Small-Cap ETF | 922908751 | 6,432 | $1.2M | 0.15% |
| 66 | General Dynamics Corp | GD | 5,485 | $1.2M | 0.15% |
| 67 | EOG Res Inc | EOG | 9,487 | $1.2M | 0.15% |
| 68 | Abbott Laboratories | ABLZF | 12,334 | $1.2M | 0.15% |
| 69 | iShares Edge MSCI Min Vol USA | 46429B697 | 16,093 | $1.2M | 0.15% |
| 70 | Philip Morris International In | 718172109 | 12,156 | $1.1M | 0.14% |
| 71 | Kroger Co | KR | 23,929 | $1.1M | 0.14% |
| 72 | iShares Russell 2000 | 464287655 | 5,923 | $1.0M | 0.13% |
| 73 | Visa Inc | V | 4,550 | $1.0M | 0.13% |
| 74 | Merck & Co Inc | MRK | 10,131 | $1.0M | 0.13% |
| 75 | Qualcomm Inc | QCOM | 9,052 | $1.0M | 0.13% |
| 76 | Vanguard Mid-Cap ETF | 922908629 | 4,819 | $1.0M | 0.13% |
| 77 | Chevron Corp | CVX | 5,777 | $974,118 | 0.12% |
| 78 | Johnson Controls Intl, PLC | G51502105 | 18,193 | $968,050 | 0.12% |
| 79 | Essential Utilities, Inc | 29670G102 | 28,108 | $964,948 | 0.12% |
| 80 | Spdr Gold Trust Shs | GLD | 5,500 | $942,975 | 0.12% |
| 81 | Alphabet Inc Cap Stk Cl C | GOOG | 7,148 | $942,464 | 0.12% |
| 82 | Mondelez Intl Inc Class A | 609207105 | 13,121 | $910,597 | 0.12% |
| 83 | Shell Plc ADR | RYDAF | 14,140 | $910,333 | 0.12% |
| 84 | Consumer Discr Select Sect SPD | 81369Y407 | 5,651 | $909,698 | 0.12% |
| 85 | Financial Select Sector SPDR E | 81369Y605 | 24,684 | $818,768 | 0.10% |
| 86 | Ciena Corp | CIEN | 17,288 | $817,031 | 0.10% |
| 87 | Expedia Group Inc New | EXPE | 7,804 | $804,358 | 0.10% |
| 88 | Illinois Tool Works Inc | 452308109 | 3,331 | $767,163 | 0.10% |
| 89 | Citigroup Inc | C-PR | 18,177 | $747,620 | 0.10% |
| 90 | Tetra Tech Inc New | TTEK | 4,676 | $710,892 | 0.09% |
| 91 | SPDRA S&P MidCap 400 ETF | MDY | 1,551 | $708,249 | 0.09% |
| 92 | iShares Russell 2000 Growth | 464287648 | 3,152 | $706,521 | 0.09% |
| 93 | American Tower Corp | 03027X100 | 4,290 | $705,491 | 0.09% |
| 94 | T Rowe Price Short-Term Bond I | 77957P402 | 153,547 | $687,891 | 0.09% |
| 95 | Intel Corp | INTC | 19,170 | $681,494 | 0.09% |
| 96 | Air Prods Chems Inc | AIIR | 2,370 | $671,658 | 0.09% |
| 97 | Thomson Reuters Corp. | TMSOF | 5,377 | $657,715 | 0.08% |
| 98 | Vanguard Communication SVCS ET | 92204A884 | 6,200 | $652,178 | 0.08% |
| 99 | Mastercard Inc Cl A | MA | 1,629 | $644,937 | 0.08% |
| 100 | iShares Russell 2000 Value | 464287630 | 4,637 | $628,545 | 0.08% |
| 101 | Aon PLC Shs Cl A | AON | 1,928 | $625,096 | 0.08% |
| 102 | Meta Platforms Inc | META | 1,999 | $600,120 | 0.08% |
| 103 | Amdocs Ltd ADR | DOX | 7,038 | $594,641 | 0.08% |
| 104 | Allegheny Technologies Inc | ATI | 14,325 | $589,474 | 0.08% |
| 105 | Advanced Micro Devices Inc | AMD | 5,484 | $563,865 | 0.07% |
| 106 | Transdigm Group Inc | TDG | 652 | $549,721 | 0.07% |
| 107 | Nike Inc | NKE | 5,744 | $549,241 | 0.07% |
| 108 | BlackRock Inc | BLK | 830 | $536,587 | 0.07% |
| 109 | MGE Energy Inc | MGEE | 6,903 | $472,925 | 0.06% |
| 110 | Intuitive Surgical Inc | ISRG | 1,592 | $465,326 | 0.06% |
| 111 | Communication Sector Select SP | 81369Y852 | 7,057 | $462,727 | 0.06% |
| 112 | Nice Ltd Sponsored ADR | NCSYF | 2,713 | $461,210 | 0.06% |
| 113 | Eaton Corp PLC | ETN | 2,042 | $435,518 | 0.06% |
| 114 | PNC Financial Services Group I | 693475105 | 3,466 | $425,521 | 0.05% |
| 115 | Wal-Mart Inc | WMT | 2,640 | $422,215 | 0.05% |
| 116 | Vanguard Index Growth | 922908736 | 1,502 | $409,010 | 0.05% |
| 117 | Berkshire Hathaway INC-CL B | BRK-A | 1,151 | $403,195 | 0.05% |
| 118 | Applied Materials Inc | 038222105 | 2,879 | $398,598 | 0.05% |
| 119 | Vanguard Index Value | 922908744 | 2,842 | $391,997 | 0.05% |
| 120 | Nuveen ESG Large Cap Value | NU | 11,668 | $391,928 | 0.05% |
| 121 | TE Connectivity Ltd | TEL | 2,955 | $365,031 | 0.05% |
| 122 | US Bancorp | USB-PS | 10,934 | $361,478 | 0.05% |
| 123 | Ameriprise Financial Inc | 03076C106 | 1,093 | $360,340 | 0.05% |
| 124 | Charles River Labs Intl | 159864107 | 1,825 | $357,664 | 0.05% |
| 125 | iShares MSCI EAFE ETF | 464287465 | 5,128 | $353,422 | 0.05% |
| 126 | Pfizer Inc | PFE | 10,565 | $350,441 | 0.04% |
| 127 | Corning Inc | GLW | 11,406 | $347,541 | 0.04% |
| 128 | Union Pacific Corp | UNP | 1,650 | $335,990 | 0.04% |
| 129 | Cintas Corporation | CTAS | 677 | $325,644 | 0.04% |
| 130 | Invesco Qqq Tr ETF | IVZ | 895 | $320,652 | 0.04% |
| 131 | Altria Group Inc | MO | 7,616 | $320,253 | 0.04% |
| 132 | JHancock Investment Grade Bond | 41014P771 | 36,526 | $316,313 | 0.04% |
| 133 | Weyco Group Inc | WEYS | 12,096 | $306,634 | 0.04% |
| 134 | Fidelity National Information | 31620M106 | 5,514 | $304,759 | 0.04% |
| 135 | Arthur J. Gallagher & Co | 363576109 | 1,305 | $297,449 | 0.04% |
| 136 | Microchip Technology Inc | MCHPP | 3,762 | $293,624 | 0.04% |
| 137 | Vanguard FTSE Developed Market | 921943858 | 6,553 | $286,497 | 0.04% |
| 138 | iShares MSCI ACWI ex US | 464288240 | 5,905 | $277,594 | 0.04% |
| 139 | Western Digital Corp | WDC | 6,074 | $277,157 | 0.04% |
| 140 | International Business Machine | INTR | 1,970 | $276,391 | 0.04% |
| 141 | Bristol Myers Squibb Co | CELG-RI | 4,698 | $272,672 | 0.03% |
| 142 | Nextera Energy Inc | NEE-PW | 4,738 | $271,440 | 0.03% |
| 143 | Paypal Hldgs Inc | PYPL | 4,389 | $256,581 | 0.03% |
| 144 | American Express CO | AXP | 1,711 | $255,264 | 0.03% |
| 145 | Danaher Corp | 235851102 | 1,000 | $248,100 | 0.03% |
| 146 | Rockwell Automation Inc | ROK | 867 | $247,849 | 0.03% |
| 147 | Phillips 66 | PSX | 2,058 | $247,269 | 0.03% |
| 148 | Synopsys Inc | SNPS | 537 | $246,467 | 0.03% |
| 149 | Waste Mgmt Inc Del | 94106L109 | 1,565 | $238,569 | 0.03% |
| 150 | Starbucks Corp | SBUX | 2,605 | $237,758 | 0.03% |
| 151 | Valero Energy Corp | VLO | 1,668 | $236,372 | 0.03% |
| 152 | Kimberly-Clark Corp | KMB | 1,908 | $230,582 | 0.03% |
| 153 | Xcel Energy Inc. | XELLL | 3,987 | $228,136 | 0.03% |
| 154 | The Charles Schwab Corp | SCHW-PJ | 4,151 | $227,890 | 0.03% |
| 155 | McKesson Corp | MCK | 523 | $227,427 | 0.03% |
| 156 | Automatic Data Processing Inc | ADP | 943 | $226,867 | 0.03% |
| 157 | Schwab US Large-Cap ETF | 808524201 | 4,298 | $217,479 | 0.03% |
| 158 | Vanguard Information Technolog | 92204A702 | 519 | $215,333 | 0.03% |
| 159 | Ark Innovation | 00214Q104 | 5,364 | $212,790 | 0.03% |
| 160 | Exact Sciences Corp | 30063P105 | 3,115 | $212,505 | 0.03% |
| 161 | Thermo Fisher Scientific Inc | TMO | 415 | $210,061 | 0.03% |
| 162 | Cummins Inc | CMI | 904 | $206,528 | 0.03% |
| 163 | Palantir Technologies Inc | PLTR | 10,811 | $172,976 | 0.02% |
| 164 | AT&T Inc | T-PC | 10,931 | $164,184 | 0.02% |
| 165 | Barrick Gold Corp ADR | 067901108 | 11,000 | $160,050 | 0.02% |
| 166 | American High-income Mun Bd Fd | 026545806 | 10,999 | $154,093 | 0.02% |
| 167 | Terran Orbital Corporation | 88105P103 | 10,000 | $8,324 | 0.00% |
| 168 | Acutus Medical | 005111109 | 10,000 | $6,966 | 0.00% |