First Business Financial Services, Inc. SEC 13F Disclosure Analysis

Diversified strategyMomentum followerLong-term holder

Total reported value

$1.1B

Reporting period: 2026-03-31 · Number of holdings: 192

First Business Financial Services, Inc. disclosed 192 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.1B and a quarterly turnover rate of 8.4%.

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Personality snowflake

Concentration: 34.46
Portfolio Stability: 8.4
Momentum/Contrarian: 100
Sector conviction: 58.78
Diversification: 100
Sizing Uniformity: 60.47

Recent moves

Trim VTI
+1.1%　-$8.7M
Trim IWF
+0.7%　-$8.0M
Add JPST
+60.6%　$6.7M
Add CIEN
+12.4%　$5.4M
Add PWR
+10.0%　$2.6M
Trim SPY
-0.1%　-$1.4M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	22.74%	-1.55%	+1.05%
2	IEFA	Ishares Core Msci Eafe ETF	ETF-Other	12.52%	+0.09%	+2.80%
3	IWF	Ishares Russell 1000 Growth	ETF-Other	6.95%	-0.96%	+0.68%
4	IJR	Ishares Core S&p Small-cap E	ETF-Small Cap	5.54%	+0.10%	+1.67%
5	DGRO	Ishares Core Dividend Growth	ETF-Other	5.21%	-0.03%	+1.59%
6	IWD	Ishares Russell 1000 Value E	ETF-Other	5.06%	-0.01%	+1.44%
7	IJH	Ishares Core S&p Midcap ETF	ETF-Other	4.25%	+0.03%	+1.54%
8	AGG	Ishares Core U.s. Aggregate	ETF-Other	3.32%	-0.18%	-1.53%
9	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	2.53%	-0.21%	-0.08%
10	FBIZ	First Business Financial Ser	Stock-Other	1.73%	—	—
11	JPST	Jpmorgan Ultra-short Income	ETF-Other	1.57%	+0.56%	+60.64%
12	NVDA	Nvidia CORP	Stock-Tech	1.55%	—	+5.77%
13	AAPL	Apple INC	Stock-Tech	1.34%	-0.08%	+4.46%
14	AVGO	Broadcom INC	Stock-Tech	1.15%	—	+10.11%
15	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.08%	—	+8.17%
16	CIEN	Ciena CORP	Stock-Tech	1.04%	+0.47%	+12.38%
17	JPM	Jpmorgan Chase & Co	Stock-Financials	0.92%	—	+10.07%
18	PWR	Quanta Services INC	Stock-Industrials	0.76%	+0.21%	+10.03%
19	ANET	Arista Networks INC	Stock-Tech	0.72%	+0.01%	+12.08%
20	MSFT	Microsoft CORP	Stock-Tech	0.59%	-0.19%	+2.09%
21	VTIP	Vanguard Short-term Tips	ETF-Other	0.59%	+0.59%	NEW
22	LRCX	Lam Research CORP	Stock-Tech	0.59%	+0.17%	+14.83%
23	LLY	Eli Lilly & Co	Stock-Healthcare	0.52%	—	+12.19%
24	MUB	Ishares National Muni Bond E	ETF-Other	0.50%	+0.06%	+17.39%
25	XOM	Exxon Mobil CORP	Stock-Energy	0.44%	+0.14%	+8.73%
26	MTUM	Ishares Msci USA Momentum Fa	ETF-Other	0.43%	—	—
27	XLK	Ss Technology Select Sector	ETF-Tech	0.43%	-0.05%	—
28	COR	Cencora INC	Stock-Healthcare	0.43%	—	+11.64%
29	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.41%	+0.08%	+10.48%
30	C	Citigroup INC	Stock-Financials	0.40%	+0.02%	+11.48%
31	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.38%	—	—
32	ADI	Analog Devices INC	Stock-Tech	0.38%	+0.08%	+11.83%
33	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	0.38%	—	+10.23%
34	BAC	Bank Of America CORP	Stock-Financials	0.34%	—	+8.92%
35	TMUS	T-mobile US INC	Stock-Comm Services	0.32%	+0.06%	+19.88%
36	GD	General Dynamics CORP	Stock-Industrials	0.30%	+0.03%	+11.79%
37	XLE	Ss Energy Select Sector	ETF-Other	0.30%	+0.08%	—
38	NUE	Nucor CORP	Stock-Materials	0.30%	+0.03%	+10.32%
39	EQIX	Equinix INC	Stock-Real Estate	0.29%	+0.08%	+11.88%
40	SYK	Stryker CORP	Stock-Healthcare	0.28%	—	+11.23%
41	RSG	Republic Services INC	Stock-Industrials	0.28%	+0.04%	+13.87%
42	TJX	Tjx Companies INC	Stock-Consumer Disc	0.28%	+0.03%	+8.53%
43	NEE	Nextera Energy INC	Stock-Utilities	0.28%	+0.06%	+9.72%
44	KO	Coca-cola Co/the	Stock-Consumer Staples	0.26%	+0.02%	+1.83%
45	EA	Electronic Arts INC	Stock-Comm Services	0.26%	—	—
46	EXPE	Expedia Group INC	Stock-Consumer Disc	0.25%	-0.03%	+11.40%
47	PRU	Prudential Financial INC	Stock-Financials	0.24%	—	+11.55%
48	ICE	Intercontinental Exchange In	Stock-Financials	0.24%	+0.02%	+17.17%
49	TXN	Texas Instruments INC	Stock-Tech	0.23%	+0.03%	+10.22%
50	AMZN	Amazon.com INC	Stock-Consumer Disc	0.23%	—	+14.19%

1–50 of 192

Portfolio Performance

Performance for Q3 2026

+2.4%

Performance Last 4 Quarters

+25%

Based on 67% of reported portfolio value with available pricing

Stdev: +11.4%
Beta: +0.81
Alpha: +2.1%
Max Drawdown: -6.1%
Annualized Perf: +17.7%
Batting Avg vs S&P: +44.4%
Sortino: +3.06
Stutzer: +0.44
Treynor: +0.21
Sterling: +1.19
Calmar: +2.9
Information Ratio: -0.29
Tracking Error: +5%
Stdev Down: +5.6%
Winning Months %: +72.2%
Losing Months %: +27.8%
Best 12 Months: +34.3%
Worst 12 Months: +7.4%
Efficiency Ratio: +0.6
Sharpe: +1.49
Stdev Sectors: +9.8%
Skewness: +0.01
Kurtosis: -0.33
Upside Potential: +4.67

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	192	$1.1B	8	1VTI 2IEFA 3IWF Top holdings2026-03-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-12-31	168	$1.1B	6	1VTI 2IEFA 3IWF Top holdings2025-12-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-09-30	185	$1.1B	13	1VTI 2IEFA 3IWF Top holdings2025-09-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-06-30	185	$1.1B	0	1VTI 2IEFA 3IWF Top holdings2025-06-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-03-31	170	$1.0B	100	1VTI 2IEFA 3IWF Top holdings2025-03-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2024-12-31	162	$1.0B	0	1VTI 2IEFA 3IWF Top holdings2024-12-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2024-09-30	159	$999.2M	0	1VTI 2IEFA 3IWF Top holdings2024-09-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2024-06-30	157	$943.3M	0	1VTI 2IEFA 3IWF Top holdings2024-06-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.AGG 8.IJH 9.SPY 10.FBIZ
2024-03-31	165	$932.5M	0	1VTI 2IEFA 3IWF Top holdings2024-03-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2023-12-31	162	$860.2M	0	1VTI 2IEFA 3IWF Top holdings2023-12-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.AGG 8.IJH 9.SPY 10.FBIZ
2023-09-30	168	$784.8M	0	1VTI 2IEFA 3IWF Top holdings2023-09-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.AGG 8.IJH 9.SPY 10.FBIZ
2023-06-30	167	$810.7M	0	1VTI 2IEFA 3IWF Top holdings2023-06-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2023-03-31	168	$796.8M	0	1VTI 2IEFA 3IJR Top holdings2023-03-31 1.VTI 2.IEFA 3.IJR 4.IWF 5.AGG 6.DGRO 7.IWD 8.IJH 9.SPY 10.VNQ
2022-12-31	163	$744.2M	0	1VTI 2IEFA 3IJR Top holdings2022-12-31 1.VTI 2.IEFA 3.IJR 4.IWF 5.AGG 6.DGRO 7.IWD 8.IJH 9.SPY 10.VNQ
2022-09-30	161	$700.3M	0	1VTI 2IEFA 3AGG Top holdings2022-09-30 1.VTI 2.IEFA 3.AGG 4.IJR 5.IWF 6.DGRO 7.IWD 8.IJH 9.VNQ 10.SPY
2022-06-30	159	$742.4M	0	1VTI 2IEFA 3AGG Top holdings2022-06-30 1.VTI 2.IEFA 3.AGG 4.IJR 5.IWF 6.DGRO 7.IWD 8.IJH 9.VNQ 10.SPY
2022-03-31	171	$904.4M	0	1VTI 2IEFA 3IWF Top holdings2022-03-31 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2021-12-31	170	$945.1M	0	1VTI 2IEFA 3IWF Top holdings2021-12-31 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2021-09-30	156	$873.9M	0	1VTI 2IEFA 3IWF Top holdings2021-09-30 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2021-06-30	155	$855.5M	100	1VTI 2IEFA 3IWF Top holdings2021-06-30 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.STMUX
2021-03-31	134	$753.4M	10	1VTI 2IWF 3MTUM Top holdings2021-03-31 1.VTI 2.IWF 3.MTUM 4.IEFA 5.IJR 6.AGG 7.EFAV 8.IWD 9.IJH 10.SPY
2020-12-31	125	$688.2M	28	1VTI 2IWF 3MTUM Top holdings2020-12-31 1.VTI 2.IWF 3.MTUM 4.AGG 5.IEFA 6.IJR 7.EFAV 8.IWD 9.IJH 10.SPY
2020-09-30	123	$599.1M	8	1VTI 2AGG 3IEFA Top holdings2020-09-30 1.VTI 2.AGG 3.IEFA 4.USMV 5.EFAV 6.IWF 7.IJR 8.IWD 9.MTUM 10.IJH
2020-06-30	121	$557.9M	13	1VTI 2AGG 3IEFA Top holdings2020-06-30 1.VTI 2.AGG 3.IEFA 4.USMV 5.EFAV 6.IJR 7.IWF 8.IWD 9.MTUM 10.IJH
2020-03-31	115	$502.3M	46	1VTI 2AGG 3USMV Top holdings2020-03-31 1.VTI 2.AGG 3.USMV 4.EFAV 5.IEFA 6.IWF 7.IWD 8.IJR 9.IJH 10.MTUM
2019-12-31	124	$631.9M	11	1VTI 2IEFA 3IWD Top holdings2019-12-31 1.VTI 2.IEFA 3.IWD 4.USMV 5.AGG 6.IJR 7.IWF 8.EFA 9.IJH 10.FISV
2019-09-30	118	$585.0M	20	1VTI 2IEFA 3IWD Top holdings2019-09-30 1.VTI 2.IEFA 3.IWD 4.USMV 5.AGG 6.IJR 7.IWF 8.EFA 9.IJH 10.FISV
2019-06-30	117	$575.6M	4	1VTI 2IEFA 3IWD Top holdings2019-06-30 1.VTI 2.IEFA 3.IWD 4.AGG 5.IJR 6.IWF 7.EFA 8.IJH 9.FISV 10.FBIZ
2019-03-31	105	$561.0M	40	1VTI 2IEFA 3IWD Top holdings2019-03-31 1.VTI 2.IEFA 3.IWD 4.AGG 5.IJR 6.IWF 7.EFA 8.IJH 9.FISV 10.FBIZ
2018-12-31	154	$587.8M	37	1VTI 2IEFA 3IWF Top holdings2018-12-31 1.VTI 2.IEFA 3.IWF 4.AGG 5.EFA 6.IJR 7.IWD 8.IJH 9.BIMIX 10.WAPSX
2018-09-30	118	$634.5M	18	1VTI 2IWF 3EFA Top holdings2018-09-30 1.VTI 2.IWF 3.EFA 4.IEFA 5.AGG 6.XLI 7.IWM 8.XLF 9.IWD 10.BIMIX
2018-06-30	88	$558.3M	19	1VTI 2EFA 3IWF Top holdings2018-06-30 1.VTI 2.EFA 3.IWF 4.AGG 5.IEFA 6.IWM 7.XLF 8.XLI 9.IWD 10.BIMIX
2018-03-31	80	$538.4M	20	1VTI 2EFA 3IWF Top holdings2018-03-31 1.VTI 2.EFA 3.IWF 4.AGG 5.IWM 6.XLF 7.XLI 8.IWD 9.WAPSX 10.BIMIX
2017-12-31	78	$545.4M	10	1VTI 2EFA 3AGG Top holdings2017-12-31 1.VTI 2.EFA 3.AGG 4.IWF 5.IWM 6.BND 7.XLI 8.XLF 9.IWD 10.FBIZ
2017-09-30	80	$502.9M	12	1VTI 2EFA 3AGG Top holdings2017-09-30 1.VTI 2.EFA 3.AGG 4.IWF 5.IWM 6.BND 7.XLI 8.XLF 9.IWD 10.FBIZ
2017-06-30	76	$487.3M	16	1VTI 2EFA 3AGG Top holdings2017-06-30 1.VTI 2.EFA 3.AGG 4.IWF 5.IWM 6.BND 7.XLI 8.XLF 9.IWD 10.XLE
2017-03-31	76	$474.4M	41	1VTI 2EFA 3AGG Top holdings2017-03-31 1.VTI 2.EFA 3.AGG 4.IWD 5.IWM 6.BND 7.XLI 8.XLF 9.IWF 10.XLE
2016-12-31	70	$431.5M	13	1VTI 2EFA 3AGG Top holdings2016-12-31 1.VTI 2.EFA 3.AGG 4.IWD 5.IWB 6.BND 7.XLK 8.IWF 9.XLY 10.FBIZ
2016-09-30	80	$408.9M	13	1VTI 2EFA 3AGG Top holdings2016-09-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWB 6.BND 7.XLK 8.XLY 9.IWF 10.VOX
2016-06-30	81	$388.6M	27	1VTI 2EFA 3AGG Top holdings2016-06-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWB 6.XLK 7.XLY 8.BND 9.IWF 10.FBIZ
2016-03-31	85	$366.9M	76	1VTI 2EFA 3AGG Top holdings2016-03-31 1.VTI 2.EFA 3.AGG 4.IUSG 5.IWB 6.XLK 7.IWD 8.IWF 9.XLY 10.XLP
2015-12-31	70	$334.4M	48	1VTI 2AGG 3IEFA Top holdings2015-12-31 1.VTI 2.AGG 3.IEFA 4.IWF 5.IWD 6.BND 7.EFA 8.IWR 9.IWV 10.SPY
2015-09-30	90	$312.4M	31	1VTI 2AGG 3EFA Top holdings2015-09-30 1.VTI 2.AGG 3.EFA 4.IWF 5.IWD 6.IWR 7.FBIZ 8.XLV 9.XLU 10.XLP
2015-06-30	87	$344.5M	23	1VTI 2EFA 3AGG Top holdings2015-06-30 1.VTI 2.EFA 3.AGG 4.IWF 5.IWD 6.IWB 7.FBIZ 8.XLV 9.XLK 10.XLY
2015-03-31	79	$331.5M	29	1VTI 2AGG 3EFA Top holdings2015-03-31 1.VTI 2.AGG 3.EFA 4.IWF 5.IWD 6.IWR 7.FBIZ 8.XLV 9.XLK 10.XLP
2014-12-31	79	$310.3M	29	1VTI 2AGG 3IWF Top holdings2014-12-31 1.VTI 2.AGG 3.IWF 4.IWD 5.EFA 6.XLK 7.XLV 8.IWO 9.FBIZ 10.IWN
2014-09-30	83	$276.1M	7	1VTI 2EFA 3AGG Top holdings2014-09-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWF 6.FBIZ 7.IWN 8.XLV 9.XLK 10.IWO
2014-06-30	76	$269.2M	15	1VTI 2EFA 3AGG Top holdings2014-06-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWF 6.IWN 7.FBIZ 8.IWO 9.XLV 10.XLK
2014-03-31	81	$251.4M	30	1VTI 2AGG 3EFA Top holdings2014-03-31 1.VTI 2.AGG 3.EFA 4.IWD 5.IWF 6.IWN 7.FBIZ 8.IWO 9.XLV 10.XLK
2013-12-31	61	$240.3M	49	1VTI 2EFA 3IWF Top holdings2013-12-31 1.VTI 2.EFA 3.IWF 4.IWD 5.AGG 6.BND 7.IWO 8.IWN 9.FBIZ 10.XLI
2013-09-30	41	$187.7M	17	1VTI 2AGG 3EFA Top holdings2013-09-30 1.VTI 2.AGG 3.EFA 4.IWD 5.IWN 6.IWF 7.IWO 8.FBIZ 9.MUB 10.XLV
2013-06-30	36	$170.6M	—	1VTI 2AGG 3EFA Top holdings2013-06-30 1.VTI 2.AGG 3.EFA 4.IWD 5.IWN 6.IWF 7.FBIZ 8.MUB 9.IWO 10.XLF

Holding changes this quarter

First Business Financial Services, Inc.'s most significant position changes for 2026-03-31: New buy: Vanguard Short-term Tips (VTIP); New buy: Rtrn Stack Glbl Stk & Bd ETF (RSSB); New buy: Simplify Managed Futures St (CTA); New buy: Essential Utilities INC (WTRG); New buy: Blackstone INC (BX).

Position changes disclosed by First Business Financial Services, Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	JPST	Jpmorgan Ultra-short Income	+0.6%	+60.64%	Add
2	CIEN	Ciena CORP	+0.5%	+12.38%	Add
3	PWR	Quanta Services INC	+0.2%	+10.03%	Add
4	LRCX	Lam Research CORP	+0.2%	+14.83%	Add
5	XOM	Exxon Mobil CORP	+0.1%	+8.73%	Add
6	IJR	Ishares Core S&p Small-cap E	+0.1%	+1.67%	Add
7	IEFA	Ishares Core Msci Eafe ETF	+0.1%	+2.80%	Add
8	ADI	Analog Devices INC	+0.1%	+11.83%	Add
9	COST	Costco Wholesale CORP	+0.1%	+10.48%	Add
10	EQIX	Equinix INC	+0.1%	+11.88%	Add
11	XLE	Ss Energy Select Sector	+0.1%	—	Unchanged
12	MUB	Ishares National Muni Bond E	+0.1%	+17.39%	Add
13	TMUS	T-mobile US INC	+0.1%	+19.88%	Add
14	NEE	Nextera Energy INC	+0.1%	+9.72%	Add
15	SLB	Slb LTD	+0.1%	+8.89%	Add
16	OSK	Oshkosh CORP	0%	+16.18%	Add
17	KR	Kroger Co	0%	+17.07%	Add
18	GLW	Corning INC	0%	+7.09%	Add
19	RSG	Republic Services INC	0%	+13.87%	Add
20	IJH	Ishares Core S&p Midcap ETF	0%	+1.54%	Add
21	TXN	Texas Instruments INC	0%	+10.22%	Add
22	NUE	Nucor CORP	0%	+10.32%	Add
23	GD	General Dynamics CORP	0%	+11.79%	Add
24	AEP	American Electric Power	0%	+15.06%	Add
25	TJX	Tjx Companies INC	0%	+8.53%	Add
26	DRI	Darden Restaurants INC	0%	+12.04%	Add
27	C	Citigroup INC	0%	+11.48%	Add
28	ICE	Intercontinental Exchange In	0%	+17.17%	Add
29	CL	Colgate-palmolive Co	0%	+22.16%	Add
30	KO	Coca-cola Co/the	0%	+1.83%	Add
31	ANET	Arista Networks INC	0%	+12.08%	Add
32	IWD	Ishares Russell 1000 Value E	0%	+1.44%	Add
33	DGRO	Ishares Core Dividend Growth	0%	+1.59%	Add
34	EXPE	Expedia Group INC	0%	+11.40%	Add
35	XLK	Ss Technology Select Sector	-0.1%	—	Unchanged
36	AAPL	Apple INC	-0.1%	+4.46%	Add
37	AGG	Ishares Core U.s. Aggregate	-0.2%	-1.53%	Trim
38	MSFT	Microsoft CORP	-0.2%	+2.09%	Add
39	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.2%	-0.08%	Trim
40	IWF	Ishares Russell 1000 Growth	-1%	+0.68%	Add
41	VTI	Vanguard Total Stock Mkt ETF	-1.6%	+1.05%	Add
42	VTIP	Vanguard Short-term Tips	—	NEW	New buy
43	RSSB	Rtrn Stack Glbl Stk & Bd ETF	—	NEW	New buy
44	CTA	Simplify Managed Futures St	—	NEW	New buy
45	WTRG	Essential Utilities INC	—	NEW	New buy
46	BX	Blackstone INC	—	NEW	New buy
47	USCI	United States Commodity Inde	—	NEW	New buy
48	PHM	Pultegroup INC	—	NEW	New buy
49	SPDW	Ste Str Spdr Pt Dw EU ETF	—	NEW	New buy
50	EOG	Eog Resources INC	—	NEW	New buy

FAQ

What is First Business Financial Services, Inc. and what type of investor is it?

First Business Financial Services, Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $1.1B, spread across 192 disclosed positions.

What are First Business Financial Services, Inc.'s largest equity positions?

Based on the latest 13F filing, First Business Financial Services, Inc.'s top holdings by market value are: 1. Vanguard Total Stock Mkt ETF (VTI) — $255.7M (22.7%) 2. Ishares Core Msci Eafe ETF (IEFA) — $140.9M (12.5%) 3. Ishares Russell 1000 Growth (IWF) — $78.2M (7.0%) 4. Ishares Core S&p Small-cap E (IJR) — $62.3M (5.5%) 5. Ishares Core Dividend Growth (DGRO) — $58.6M (5.2%)

What changes did First Business Financial Services, Inc. make in its most recent portfolio filing?

In the latest reported quarter, First Business Financial Services, Inc. made 48 notable position adjustments: 9 new positions were initiated, 37 existing holdings were added to, 2 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Vanguard Short-term Tips (VTIP); New buy: Rtrn Stack Glbl Stk & Bd ETF (RSSB); New buy: Simplify Managed Futures St (CTA); New buy: Essential Utilities INC (WTRG); New buy: Blackstone INC (BX)

What sectors does First Business Financial Services, Inc. focus on?

First Business Financial Services, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 37.9% • Financials: 12.7% • Communication Services: 9.9% • Industrials: 9.6% • Health Care: 8.4% • Consumer Discretionary: 6.5%

Peer Institutions

Institutions with a similar AUM

J. L. Bainbridge & Co., Inc.

CIK 0001742315

Total reported value

$1.1B

108 stks

2026-03-31

Concentration21.4

Portfolio Stability22.0

Sector conviction68.9

AUM within 0.1% of this institution

View detail

Estate Counselors, LLC

CIK 0001559832

Total reported value

$1.1B

97 stks

2026-03-31

Concentration78.9

Portfolio Stability33.2

Sector conviction56.6

AUM within 0.1% of this institution

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Dark Forest Capital Management LP

CIK 0001853322

Total reported value

$1.1B

766 stks

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Concentration1.2

Portfolio Stability100.0

Sector conviction37.8

AUM within 0.1% of this institution

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Similar Holdings Style

Institutions with overlapping top holdings

Regent Peak Wealth Advisors LLC

CIK 0001803329

Total reported value

$540.1M

221 stks

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Concentration19.8

Portfolio Stability19.4

Sector conviction76.3

3 of the top 5 holdings overlap, including Vanguard Total Stock Mkt ETF

View detail

Talisman Wealth Advisors LLC

CIK 0001962685

Total reported value

$124.1M

103 stks

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Concentration12.1

Portfolio Stability20.8

Sector conviction60.7

3 of the top 5 holdings overlap, including Ishares Core Dividend Growth

View detail

M&T Bank Corp

CIK 0000036270

Total reported value

$29.2B

11,679 stks

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Concentration5.3

Portfolio Stability13.4

Sector conviction44.0

2 of the top 5 holdings overlap, including Ishares Core Msci Eafe ETF

View detail

First Business Financial Services, Inc. SEC 13F Disclosure Analysis

Diversified strategyMomentum followerLong-term holder

Total reported value

$1.1B

Reporting period: 2026-03-31 · Number of holdings: 192

First Business Financial Services, Inc. disclosed 192 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.1B and a quarterly turnover rate of 8.4%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "F"

Personality snowflake

Concentration: 34.46
Portfolio Stability: 8.4
Momentum/Contrarian: 100
Sector conviction: 58.78
Diversification: 100
Sizing Uniformity: 60.47

Recent moves

Trim VTI
+1.1%　-$8.7M
Trim IWF
+0.7%　-$8.0M
Add JPST
+60.6%　$6.7M
Add CIEN
+12.4%　$5.4M
Add PWR
+10.0%　$2.6M
Trim SPY
-0.1%　-$1.4M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	22.74%	-1.55%	+1.05%
2	IEFA	Ishares Core Msci Eafe ETF	ETF-Other	12.52%	+0.09%	+2.80%
3	IWF	Ishares Russell 1000 Growth	ETF-Other	6.95%	-0.96%	+0.68%
4	IJR	Ishares Core S&p Small-cap E	ETF-Small Cap	5.54%	+0.10%	+1.67%
5	DGRO	Ishares Core Dividend Growth	ETF-Other	5.21%	-0.03%	+1.59%
6	IWD	Ishares Russell 1000 Value E	ETF-Other	5.06%	-0.01%	+1.44%
7	IJH	Ishares Core S&p Midcap ETF	ETF-Other	4.25%	+0.03%	+1.54%
8	AGG	Ishares Core U.s. Aggregate	ETF-Other	3.32%	-0.18%	-1.53%
9	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	2.53%	-0.21%	-0.08%
10	FBIZ	First Business Financial Ser	Stock-Other	1.73%	—	—
11	JPST	Jpmorgan Ultra-short Income	ETF-Other	1.57%	+0.56%	+60.64%
12	NVDA	Nvidia CORP	Stock-Tech	1.55%	—	+5.77%
13	AAPL	Apple INC	Stock-Tech	1.34%	-0.08%	+4.46%
14	AVGO	Broadcom INC	Stock-Tech	1.15%	—	+10.11%
15	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.08%	—	+8.17%
16	CIEN	Ciena CORP	Stock-Tech	1.04%	+0.47%	+12.38%
17	JPM	Jpmorgan Chase & Co	Stock-Financials	0.92%	—	+10.07%
18	PWR	Quanta Services INC	Stock-Industrials	0.76%	+0.21%	+10.03%
19	ANET	Arista Networks INC	Stock-Tech	0.72%	+0.01%	+12.08%
20	MSFT	Microsoft CORP	Stock-Tech	0.59%	-0.19%	+2.09%
21	VTIP	Vanguard Short-term Tips	ETF-Other	0.59%	+0.59%	NEW
22	LRCX	Lam Research CORP	Stock-Tech	0.59%	+0.17%	+14.83%
23	LLY	Eli Lilly & Co	Stock-Healthcare	0.52%	—	+12.19%
24	MUB	Ishares National Muni Bond E	ETF-Other	0.50%	+0.06%	+17.39%
25	XOM	Exxon Mobil CORP	Stock-Energy	0.44%	+0.14%	+8.73%
26	MTUM	Ishares Msci USA Momentum Fa	ETF-Other	0.43%	—	—
27	XLK	Ss Technology Select Sector	ETF-Tech	0.43%	-0.05%	—
28	COR	Cencora INC	Stock-Healthcare	0.43%	—	+11.64%
29	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.41%	+0.08%	+10.48%
30	C	Citigroup INC	Stock-Financials	0.40%	+0.02%	+11.48%
31	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.38%	—	—
32	ADI	Analog Devices INC	Stock-Tech	0.38%	+0.08%	+11.83%
33	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	0.38%	—	+10.23%
34	BAC	Bank Of America CORP	Stock-Financials	0.34%	—	+8.92%
35	TMUS	T-mobile US INC	Stock-Comm Services	0.32%	+0.06%	+19.88%
36	GD	General Dynamics CORP	Stock-Industrials	0.30%	+0.03%	+11.79%
37	XLE	Ss Energy Select Sector	ETF-Other	0.30%	+0.08%	—
38	NUE	Nucor CORP	Stock-Materials	0.30%	+0.03%	+10.32%
39	EQIX	Equinix INC	Stock-Real Estate	0.29%	+0.08%	+11.88%
40	SYK	Stryker CORP	Stock-Healthcare	0.28%	—	+11.23%
41	RSG	Republic Services INC	Stock-Industrials	0.28%	+0.04%	+13.87%
42	TJX	Tjx Companies INC	Stock-Consumer Disc	0.28%	+0.03%	+8.53%
43	NEE	Nextera Energy INC	Stock-Utilities	0.28%	+0.06%	+9.72%
44	KO	Coca-cola Co/the	Stock-Consumer Staples	0.26%	+0.02%	+1.83%
45	EA	Electronic Arts INC	Stock-Comm Services	0.26%	—	—
46	EXPE	Expedia Group INC	Stock-Consumer Disc	0.25%	-0.03%	+11.40%
47	PRU	Prudential Financial INC	Stock-Financials	0.24%	—	+11.55%
48	ICE	Intercontinental Exchange In	Stock-Financials	0.24%	+0.02%	+17.17%
49	TXN	Texas Instruments INC	Stock-Tech	0.23%	+0.03%	+10.22%
50	AMZN	Amazon.com INC	Stock-Consumer Disc	0.23%	—	+14.19%

1–50 of 192

Portfolio Performance

Performance for Q3 2026

+2.4%

Performance Last 4 Quarters

+25%

Based on 67% of reported portfolio value with available pricing

Stdev: +11.4%
Beta: +0.81
Alpha: +2.1%
Max Drawdown: -6.1%
Annualized Perf: +17.7%
Batting Avg vs S&P: +44.4%
Sortino: +3.06
Stutzer: +0.44
Treynor: +0.21
Sterling: +1.19
Calmar: +2.9
Information Ratio: -0.29
Tracking Error: +5%
Stdev Down: +5.6%
Winning Months %: +72.2%
Losing Months %: +27.8%
Best 12 Months: +34.3%
Worst 12 Months: +7.4%
Efficiency Ratio: +0.6
Sharpe: +1.49
Stdev Sectors: +9.8%
Skewness: +0.01
Kurtosis: -0.33
Upside Potential: +4.67

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	192	$1.1B	8	1VTI 2IEFA 3IWF Top holdings2026-03-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-12-31	168	$1.1B	6	1VTI 2IEFA 3IWF Top holdings2025-12-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-09-30	185	$1.1B	13	1VTI 2IEFA 3IWF Top holdings2025-09-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-06-30	185	$1.1B	0	1VTI 2IEFA 3IWF Top holdings2025-06-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2025-03-31	170	$1.0B	100	1VTI 2IEFA 3IWF Top holdings2025-03-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2024-12-31	162	$1.0B	0	1VTI 2IEFA 3IWF Top holdings2024-12-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2024-09-30	159	$999.2M	0	1VTI 2IEFA 3IWF Top holdings2024-09-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2024-06-30	157	$943.3M	0	1VTI 2IEFA 3IWF Top holdings2024-06-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.AGG 8.IJH 9.SPY 10.FBIZ
2024-03-31	165	$932.5M	0	1VTI 2IEFA 3IWF Top holdings2024-03-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.IJH 8.AGG 9.SPY 10.FBIZ
2023-12-31	162	$860.2M	0	1VTI 2IEFA 3IWF Top holdings2023-12-31 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.AGG 8.IJH 9.SPY 10.FBIZ
2023-09-30	168	$784.8M	0	1VTI 2IEFA 3IWF Top holdings2023-09-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.IWD 7.AGG 8.IJH 9.SPY 10.FBIZ
2023-06-30	167	$810.7M	0	1VTI 2IEFA 3IWF Top holdings2023-06-30 1.VTI 2.IEFA 3.IWF 4.IJR 5.DGRO 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2023-03-31	168	$796.8M	0	1VTI 2IEFA 3IJR Top holdings2023-03-31 1.VTI 2.IEFA 3.IJR 4.IWF 5.AGG 6.DGRO 7.IWD 8.IJH 9.SPY 10.VNQ
2022-12-31	163	$744.2M	0	1VTI 2IEFA 3IJR Top holdings2022-12-31 1.VTI 2.IEFA 3.IJR 4.IWF 5.AGG 6.DGRO 7.IWD 8.IJH 9.SPY 10.VNQ
2022-09-30	161	$700.3M	0	1VTI 2IEFA 3AGG Top holdings2022-09-30 1.VTI 2.IEFA 3.AGG 4.IJR 5.IWF 6.DGRO 7.IWD 8.IJH 9.VNQ 10.SPY
2022-06-30	159	$742.4M	0	1VTI 2IEFA 3AGG Top holdings2022-06-30 1.VTI 2.IEFA 3.AGG 4.IJR 5.IWF 6.DGRO 7.IWD 8.IJH 9.VNQ 10.SPY
2022-03-31	171	$904.4M	0	1VTI 2IEFA 3IWF Top holdings2022-03-31 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2021-12-31	170	$945.1M	0	1VTI 2IEFA 3IWF Top holdings2021-12-31 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2021-09-30	156	$873.9M	0	1VTI 2IEFA 3IWF Top holdings2021-09-30 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.FBIZ
2021-06-30	155	$855.5M	100	1VTI 2IEFA 3IWF Top holdings2021-06-30 1.VTI 2.IEFA 3.IWF 4.MTUM 5.IJR 6.AGG 7.IWD 8.IJH 9.SPY 10.STMUX
2021-03-31	134	$753.4M	10	1VTI 2IWF 3MTUM Top holdings2021-03-31 1.VTI 2.IWF 3.MTUM 4.IEFA 5.IJR 6.AGG 7.EFAV 8.IWD 9.IJH 10.SPY
2020-12-31	125	$688.2M	28	1VTI 2IWF 3MTUM Top holdings2020-12-31 1.VTI 2.IWF 3.MTUM 4.AGG 5.IEFA 6.IJR 7.EFAV 8.IWD 9.IJH 10.SPY
2020-09-30	123	$599.1M	8	1VTI 2AGG 3IEFA Top holdings2020-09-30 1.VTI 2.AGG 3.IEFA 4.USMV 5.EFAV 6.IWF 7.IJR 8.IWD 9.MTUM 10.IJH
2020-06-30	121	$557.9M	13	1VTI 2AGG 3IEFA Top holdings2020-06-30 1.VTI 2.AGG 3.IEFA 4.USMV 5.EFAV 6.IJR 7.IWF 8.IWD 9.MTUM 10.IJH
2020-03-31	115	$502.3M	46	1VTI 2AGG 3USMV Top holdings2020-03-31 1.VTI 2.AGG 3.USMV 4.EFAV 5.IEFA 6.IWF 7.IWD 8.IJR 9.IJH 10.MTUM
2019-12-31	124	$631.9M	11	1VTI 2IEFA 3IWD Top holdings2019-12-31 1.VTI 2.IEFA 3.IWD 4.USMV 5.AGG 6.IJR 7.IWF 8.EFA 9.IJH 10.FISV
2019-09-30	118	$585.0M	20	1VTI 2IEFA 3IWD Top holdings2019-09-30 1.VTI 2.IEFA 3.IWD 4.USMV 5.AGG 6.IJR 7.IWF 8.EFA 9.IJH 10.FISV
2019-06-30	117	$575.6M	4	1VTI 2IEFA 3IWD Top holdings2019-06-30 1.VTI 2.IEFA 3.IWD 4.AGG 5.IJR 6.IWF 7.EFA 8.IJH 9.FISV 10.FBIZ
2019-03-31	105	$561.0M	40	1VTI 2IEFA 3IWD Top holdings2019-03-31 1.VTI 2.IEFA 3.IWD 4.AGG 5.IJR 6.IWF 7.EFA 8.IJH 9.FISV 10.FBIZ
2018-12-31	154	$587.8M	37	1VTI 2IEFA 3IWF Top holdings2018-12-31 1.VTI 2.IEFA 3.IWF 4.AGG 5.EFA 6.IJR 7.IWD 8.IJH 9.BIMIX 10.WAPSX
2018-09-30	118	$634.5M	18	1VTI 2IWF 3EFA Top holdings2018-09-30 1.VTI 2.IWF 3.EFA 4.IEFA 5.AGG 6.XLI 7.IWM 8.XLF 9.IWD 10.BIMIX
2018-06-30	88	$558.3M	19	1VTI 2EFA 3IWF Top holdings2018-06-30 1.VTI 2.EFA 3.IWF 4.AGG 5.IEFA 6.IWM 7.XLF 8.XLI 9.IWD 10.BIMIX
2018-03-31	80	$538.4M	20	1VTI 2EFA 3IWF Top holdings2018-03-31 1.VTI 2.EFA 3.IWF 4.AGG 5.IWM 6.XLF 7.XLI 8.IWD 9.WAPSX 10.BIMIX
2017-12-31	78	$545.4M	10	1VTI 2EFA 3AGG Top holdings2017-12-31 1.VTI 2.EFA 3.AGG 4.IWF 5.IWM 6.BND 7.XLI 8.XLF 9.IWD 10.FBIZ
2017-09-30	80	$502.9M	12	1VTI 2EFA 3AGG Top holdings2017-09-30 1.VTI 2.EFA 3.AGG 4.IWF 5.IWM 6.BND 7.XLI 8.XLF 9.IWD 10.FBIZ
2017-06-30	76	$487.3M	16	1VTI 2EFA 3AGG Top holdings2017-06-30 1.VTI 2.EFA 3.AGG 4.IWF 5.IWM 6.BND 7.XLI 8.XLF 9.IWD 10.XLE
2017-03-31	76	$474.4M	41	1VTI 2EFA 3AGG Top holdings2017-03-31 1.VTI 2.EFA 3.AGG 4.IWD 5.IWM 6.BND 7.XLI 8.XLF 9.IWF 10.XLE
2016-12-31	70	$431.5M	13	1VTI 2EFA 3AGG Top holdings2016-12-31 1.VTI 2.EFA 3.AGG 4.IWD 5.IWB 6.BND 7.XLK 8.IWF 9.XLY 10.FBIZ
2016-09-30	80	$408.9M	13	1VTI 2EFA 3AGG Top holdings2016-09-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWB 6.BND 7.XLK 8.XLY 9.IWF 10.VOX
2016-06-30	81	$388.6M	27	1VTI 2EFA 3AGG Top holdings2016-06-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWB 6.XLK 7.XLY 8.BND 9.IWF 10.FBIZ
2016-03-31	85	$366.9M	76	1VTI 2EFA 3AGG Top holdings2016-03-31 1.VTI 2.EFA 3.AGG 4.IUSG 5.IWB 6.XLK 7.IWD 8.IWF 9.XLY 10.XLP
2015-12-31	70	$334.4M	48	1VTI 2AGG 3IEFA Top holdings2015-12-31 1.VTI 2.AGG 3.IEFA 4.IWF 5.IWD 6.BND 7.EFA 8.IWR 9.IWV 10.SPY
2015-09-30	90	$312.4M	31	1VTI 2AGG 3EFA Top holdings2015-09-30 1.VTI 2.AGG 3.EFA 4.IWF 5.IWD 6.IWR 7.FBIZ 8.XLV 9.XLU 10.XLP
2015-06-30	87	$344.5M	23	1VTI 2EFA 3AGG Top holdings2015-06-30 1.VTI 2.EFA 3.AGG 4.IWF 5.IWD 6.IWB 7.FBIZ 8.XLV 9.XLK 10.XLY
2015-03-31	79	$331.5M	29	1VTI 2AGG 3EFA Top holdings2015-03-31 1.VTI 2.AGG 3.EFA 4.IWF 5.IWD 6.IWR 7.FBIZ 8.XLV 9.XLK 10.XLP
2014-12-31	79	$310.3M	29	1VTI 2AGG 3IWF Top holdings2014-12-31 1.VTI 2.AGG 3.IWF 4.IWD 5.EFA 6.XLK 7.XLV 8.IWO 9.FBIZ 10.IWN
2014-09-30	83	$276.1M	7	1VTI 2EFA 3AGG Top holdings2014-09-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWF 6.FBIZ 7.IWN 8.XLV 9.XLK 10.IWO
2014-06-30	76	$269.2M	15	1VTI 2EFA 3AGG Top holdings2014-06-30 1.VTI 2.EFA 3.AGG 4.IWD 5.IWF 6.IWN 7.FBIZ 8.IWO 9.XLV 10.XLK
2014-03-31	81	$251.4M	30	1VTI 2AGG 3EFA Top holdings2014-03-31 1.VTI 2.AGG 3.EFA 4.IWD 5.IWF 6.IWN 7.FBIZ 8.IWO 9.XLV 10.XLK
2013-12-31	61	$240.3M	49	1VTI 2EFA 3IWF Top holdings2013-12-31 1.VTI 2.EFA 3.IWF 4.IWD 5.AGG 6.BND 7.IWO 8.IWN 9.FBIZ 10.XLI
2013-09-30	41	$187.7M	17	1VTI 2AGG 3EFA Top holdings2013-09-30 1.VTI 2.AGG 3.EFA 4.IWD 5.IWN 6.IWF 7.IWO 8.FBIZ 9.MUB 10.XLV
2013-06-30	36	$170.6M	—	1VTI 2AGG 3EFA Top holdings2013-06-30 1.VTI 2.AGG 3.EFA 4.IWD 5.IWN 6.IWF 7.FBIZ 8.MUB 9.IWO 10.XLF

Holding changes this quarter

Position changes disclosed by First Business Financial Services, Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	JPST	Jpmorgan Ultra-short Income	+0.6%	+60.64%	Add
2	CIEN	Ciena CORP	+0.5%	+12.38%	Add
3	PWR	Quanta Services INC	+0.2%	+10.03%	Add
4	LRCX	Lam Research CORP	+0.2%	+14.83%	Add
5	XOM	Exxon Mobil CORP	+0.1%	+8.73%	Add
6	IJR	Ishares Core S&p Small-cap E	+0.1%	+1.67%	Add
7	IEFA	Ishares Core Msci Eafe ETF	+0.1%	+2.80%	Add
8	ADI	Analog Devices INC	+0.1%	+11.83%	Add
9	COST	Costco Wholesale CORP	+0.1%	+10.48%	Add
10	EQIX	Equinix INC	+0.1%	+11.88%	Add
11	XLE	Ss Energy Select Sector	+0.1%	—	Unchanged
12	MUB	Ishares National Muni Bond E	+0.1%	+17.39%	Add
13	TMUS	T-mobile US INC	+0.1%	+19.88%	Add
14	NEE	Nextera Energy INC	+0.1%	+9.72%	Add
15	SLB	Slb LTD	+0.1%	+8.89%	Add
16	OSK	Oshkosh CORP	0%	+16.18%	Add
17	KR	Kroger Co	0%	+17.07%	Add
18	GLW	Corning INC	0%	+7.09%	Add
19	RSG	Republic Services INC	0%	+13.87%	Add
20	IJH	Ishares Core S&p Midcap ETF	0%	+1.54%	Add
21	TXN	Texas Instruments INC	0%	+10.22%	Add
22	NUE	Nucor CORP	0%	+10.32%	Add
23	GD	General Dynamics CORP	0%	+11.79%	Add
24	AEP	American Electric Power	0%	+15.06%	Add
25	TJX	Tjx Companies INC	0%	+8.53%	Add
26	DRI	Darden Restaurants INC	0%	+12.04%	Add
27	C	Citigroup INC	0%	+11.48%	Add
28	ICE	Intercontinental Exchange In	0%	+17.17%	Add
29	CL	Colgate-palmolive Co	0%	+22.16%	Add
30	KO	Coca-cola Co/the	0%	+1.83%	Add
31	ANET	Arista Networks INC	0%	+12.08%	Add
32	IWD	Ishares Russell 1000 Value E	0%	+1.44%	Add
33	DGRO	Ishares Core Dividend Growth	0%	+1.59%	Add
34	EXPE	Expedia Group INC	0%	+11.40%	Add
35	XLK	Ss Technology Select Sector	-0.1%	—	Unchanged
36	AAPL	Apple INC	-0.1%	+4.46%	Add
37	AGG	Ishares Core U.s. Aggregate	-0.2%	-1.53%	Trim
38	MSFT	Microsoft CORP	-0.2%	+2.09%	Add
39	SPY	Ss Spdr S&p 500 ETF Trust-us	-0.2%	-0.08%	Trim
40	IWF	Ishares Russell 1000 Growth	-1%	+0.68%	Add
41	VTI	Vanguard Total Stock Mkt ETF	-1.6%	+1.05%	Add
42	VTIP	Vanguard Short-term Tips	—	NEW	New buy
43	RSSB	Rtrn Stack Glbl Stk & Bd ETF	—	NEW	New buy
44	CTA	Simplify Managed Futures St	—	NEW	New buy
45	WTRG	Essential Utilities INC	—	NEW	New buy
46	BX	Blackstone INC	—	NEW	New buy
47	USCI	United States Commodity Inde	—	NEW	New buy
48	PHM	Pultegroup INC	—	NEW	New buy
49	SPDW	Ste Str Spdr Pt Dw EU ETF	—	NEW	New buy
50	EOG	Eog Resources INC	—	NEW	New buy