First Business Financial Services, Inc 13F annual report

First Business Financial Services, Inc is an investment fund managing more than $943 billion ran by Brendan Freeman. There are currently 157 companies in Mr. Freeman’s portfolio. The largest investments include Vanguard Total Stock Market Et and Ishares Core Msci Eafe Etf, together worth $362 billion.

Limited to 30 biggest holdings

$943 billion Assets Under Management (AUM)

As of 26th July 2024, First Business Financial Services, Inc’s top holding is 905,198 shares of Vanguard Total Stock Market Et currently worth over $242 billion and making up 25.7% of the portfolio value. In addition, the fund holds 1,655,308 shares of Ishares Core Msci Eafe Etf worth $120 billion. The third-largest holding is Ishares Russell 1000 Growth Et worth $76.8 billion and the next is Ishares Core S&p Small-cap Etf worth $59.2 billion, with 555,427 shares owned.

Currently, First Business Financial Services, Inc's portfolio is worth at least $943 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at First Business Financial Services, Inc

The First Business Financial Services, Inc office and employees reside in Madison, Wisconsin. According to the last 13-F report filed with the SEC, Brendan Freeman serves as the President, Private Wealth at First Business Financial Services, Inc.

Recent trades

In the most recent 13F filing, First Business Financial Services, Inc revealed that it had opened a new position in Equinix Inc and bought 2,358 shares worth $1.78 billion. This means they effectively own approximately 0.1% of the company. Equinix Inc makes up 38.4% of the fund's Real Estate sector allocation and has grown its share price by 0.7% in the past year.

The investment fund also strengthened its position in Vanguard Total Stock Market Et by buying 113 additional shares. This makes their stake in Vanguard Total Stock Market Et total 905,198 shares worth $242 billion.

On the other hand, there are companies that First Business Financial Services, Inc is getting rid of from its portfolio. First Business Financial Services, Inc closed its position in Johnson Controls Intl, Plc on 2nd August 2024. It sold the previously owned 18,878 shares for $1.23 billion. Brendan Freeman also disclosed a decreased stake in Ishares Core Msci Eafe Etf by approximately 0.1%. This leaves the value of the investment at $120 billion and 1,655,308 shares.

One of the average hedge funds

The two most similar investment funds to First Business Financial Services, Inc are Pegasus Partners and Global Endowment Management, L.P.. They manage $943 billion and $944 billion respectively.


Brendan Freeman investment strategy

First Business Financial Services, Inc’s portfolio is diversified across 13 sectors. Currently, their heaviest sector is Technology — making up 5.1% of the total portfolio value. The fund focuses on investments in the United States as 52.9% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 52% of the total holdings value. On the other hand, small-cap stocks make up only 0.6% of the portfolio. The average market cap of the portfolio companies is close to $178 billion.

The complete list of First Business Financial Services, Inc trades based on 13F SEC filings

These positions were updated on August 2nd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Vanguard Total Stock Market Et
0.01%
905,198
$242,149,517,000 25.67%
Ishares Core Msci Eafe Etf
0.39%
1,655,308
$120,241,573,000 12.75%
Ishares Russell 1000 Growth Et
0.97%
210,627
$76,775,648,000 8.14%
Ishares Core S&p Small-cap Etf
0.40%
555,427
$59,241,844,000 6.28%
Ishares Core Dividend Growth
2.43%
888,216
$51,170,124,000 5.42%
Ishares Russell 1000 Value Etf
0.40%
287,183
$50,104,818,000 5.31%
Ishares Core Us Aggregate Bond
0.36%
462,359
$44,881,188,000 4.76%
Ishares Core S&p Mid-cap Etf
0.51%
759,502
$44,446,057,000 4.71%
Spdr S&p 500 Etf
1.23%
44,575
$24,258,607,000 2.57%
First Business Financial Servi
1.01%
353,718
$13,084,029,000 1.39%
Jpmorgan Ultra-short Income Et
0.37%
225,460
$11,378,966,000 1.21%
Apple Inc
1.78%
52,686
$11,096,725,000 1.18%
NVIDIA Corp
998.01%
75,543
$9,332,582,000 0.99%
Microsoft Corporation
3.37%
18,106
$8,092,477,000 0.86%
Alphabet Inc Cap Stk Cl A
1.45%
36,231
$6,599,477,000 0.70%
JPMorgan Chase & Co.
3.76%
30,195
$6,107,241,000 0.65%
Broadcom Inc
0.61%
3,787
$6,080,142,000 0.64%
Fiserv, Inc.
No change
36,173
$5,391,224,000 0.57%
Lilly Eli Co
4.47%
5,538
$5,013,994,000 0.53%
Arista Networks Inc
7.14%
14,122
$4,949,479,000 0.52%
Ishares Edge Msci Usa Momentum
No change
20,335
$3,962,681,000 0.42%
Ishares S&p 500 Core
No change
5,873
$3,213,882,000 0.34%
Costco Wholesale Corp
10.33%
3,610
$3,068,464,000 0.33%
Analog Devices Inc.
1.03%
13,272
$3,029,467,000 0.32%
Technology Select Sector Spdr
0.75%
13,285
$3,005,466,000 0.32%
Lam Research Corp.
No change
2,772
$2,951,764,000 0.31%
Quanta Services, Inc.
3.42%
11,343
$2,882,143,000 0.31%
Cencora Inc.
4.45%
12,718
$2,865,365,000 0.30%
Exxon Mobil Corp.
2.95%
23,856
$2,746,303,000 0.29%
Stryker Corp.
15.57%
7,703
$2,620,946,000 0.28%
Energy Select Sector Spdr Etf
0.48%
27,252
$2,484,020,000 0.26%
Citigroup Inc
0.35%
38,104
$2,418,080,000 0.26%
T-Mobile US Inc
2.15%
13,328
$2,348,127,000 0.25%
Republic Services, Inc.
6.42%
11,936
$2,319,642,000 0.25%
Cisco Systems, Inc.
4.44%
47,650
$2,263,852,000 0.24%
Texas Instruments Inc.
8.05%
11,578
$2,252,268,000 0.24%
Bank Of America Corp.
3.28%
56,148
$2,233,006,000 0.24%
Unitedhealth Group Inc
1.85%
4,243
$2,160,790,000 0.23%
TJX Companies, Inc.
3.31%
19,027
$2,094,873,000 0.22%
Corteva Inc
14.45%
36,971
$1,994,216,000 0.21%
Intercontinental Exchange Inc
5.55%
14,534
$1,989,559,000 0.21%
Qualcomm, Inc.
6.34%
9,967
$1,985,227,000 0.21%
Electronic Arts, Inc.
3.68%
14,066
$1,959,816,000 0.21%
IQVIA Holdings Inc
8.12%
9,213
$1,947,997,000 0.21%
Prudential Financial, Inc.
0.55%
16,574
$1,942,307,000 0.21%
Lowe's Companies Inc
2.83%
8,585
$1,892,649,000 0.20%
Csx Corp Com
7.40%
55,469
$1,855,438,000 0.20%
Equinix Inc
Opened
2,358
$1,784,063,000 0.19%
Walt Disney Company
5.64%
17,839
$1,771,234,000 0.19%
Industrials Select Sector Spdr
No change
14,013
$1,707,764,000 0.18%
Amazon.com Inc.
2.01%
8,798
$1,700,214,000 0.18%
Ishares Russell 1000 Etf
No change
5,578
$1,659,678,000 0.18%
General Dynamics Corp.
2.80%
5,697
$1,652,928,000 0.18%
Schlumberger Ltd.
3.11%
32,980
$1,555,996,000 0.16%
Adobe Inc
32.62%
2,753
$1,529,402,000 0.16%
NextEra Energy Inc
437.22%
21,591
$1,528,859,000 0.16%
Darden Restaurants, Inc.
8.98%
10,061
$1,522,431,000 0.16%
Coca-Cola Co
1.89%
23,335
$1,485,273,000 0.16%
Accenture plc
37.40%
4,639
$1,407,519,000 0.15%
Hilton Worldwide Holdings Inc
Opened
6,415
$1,399,753,000 0.15%
Alphabet Inc Cap Stk Cl C
1.34%
7,390
$1,355,474,000 0.14%
Elevance Health Inc
3.37%
2,485
$1,346,522,000 0.14%
Ishares Edge Msci Min Vol Usa
No change
15,793
$1,325,980,000 0.14%
Thermo Fisher Scientific Inc.
546.58%
2,360
$1,305,080,000 0.14%
Procter & Gamble Co.
11.46%
7,843
$1,293,468,000 0.14%
Kroger Co.
4.50%
25,583
$1,277,359,000 0.14%
Abbvie Inc
13.94%
7,365
$1,263,245,000 0.13%
Johnson Controls Intl, Plc
Closed
18,878
$1,233,111,000
Expedia Group Inc
5.84%
9,747
$1,228,025,000 0.13%
Eog Res Inc
1.95%
9,745
$1,226,603,000 0.13%
Ishares Russell 2000
No change
5,923
$1,201,717,000 0.13%
Spdr Gold Trust Shs
No change
5,500
$1,182,555,000 0.13%
Merck & Co Inc
4.24%
9,466
$1,171,891,000 0.12%
Vanguard Small-cap Etf
No change
5,129
$1,118,327,000 0.12%
Lululemon Athletica inc.
Opened
3,630
$1,084,281,000 0.11%
Philip Morris International In
5.27%
10,596
$1,073,693,000 0.11%
Consumer Discr Select Sect Spd
No change
5,651
$1,030,742,000 0.11%
Essential Utilities Inc
Closed
26,753
$991,199,000
Financial Select Sector Spdr E
No change
24,095
$990,545,000 0.11%
Pepsico Inc
54.78%
5,692
$938,782,000 0.10%
Mondelez Intl Inc Class A
6.15%
13,502
$883,571,000 0.09%
CIENA Corp.
3.79%
18,061
$870,179,000 0.09%
Vanguard Communication Svcs Et
No change
6,200
$856,840,000 0.09%
American Tower Corp.
Closed
4,302
$850,032,000
Transdigm Group Incorporated
No change
652
$833,002,000 0.09%
Ishares Russell 2000 Growth
No change
3,132
$822,244,000 0.09%
Chevron Corp.
7.58%
5,147
$805,094,000 0.09%
Illinois Tool Works, Inc.
No change
3,331
$789,314,000 0.08%
Johnson & Johnson
1.09%
5,382
$786,633,000 0.08%
Allegheny Technologies Inc
No change
13,455
$746,080,000 0.08%
Tetra Tech, Inc.
No change
3,511
$717,929,000 0.08%
Ishares Russell 2000 Value
No change
4,604
$701,189,000 0.07%
Berkshire Hathaway Inc.
4.48%
1,706
$694,001,000 0.07%
Vanguard Mid-cap Etf
No change
2,832
$685,627,000 0.07%
Thomson-Reuters Corp
No change
3,942
$664,503,000 0.07%
Home Depot, Inc.
0.41%
1,928
$663,695,000 0.07%
Blackrock Inc.
0.72%
836
$658,200,000 0.07%
Eaton Corp Plc
0.44%
2,051
$643,091,000 0.07%
Communication Sector Select Sp
No change
7,057
$604,503,000 0.06%
Mcdonald's Corp
6.69%
2,314
$589,700,000 0.06%
Abbott Laboratories
6.83%
5,649
$586,988,000 0.06%
Pnc Financial Services Group I
1.24%
3,759
$584,449,000 0.06%
MGE Energy, Inc.
6.23%
7,795
$582,442,000 0.06%
Air Prods Chems Inc
Closed
2,370
$574,180,000
Vanguard Index Growth
No change
1,502
$561,763,000 0.06%
Intuitive Surgical Inc
0.08%
1,239
$551,169,000 0.06%
Wal-mart Inc
2.26%
8,056
$545,472,000 0.06%
Advanced Micro Devices Inc.
18.38%
3,331
$540,322,000 0.06%
Meta Platforms Inc
1.80%
1,016
$512,288,000 0.05%
Spdra S&p Midcap 400 Etf
No change
917
$490,668,000 0.05%
Aon Plc Shs Cl A
No change
1,632
$479,123,000 0.05%
Ameriprise Financial Inc
No change
1,093
$466,919,000 0.05%
Nuveen Esg Large Cap Value
0.59%
11,776
$445,015,000 0.05%
Corning, Inc.
No change
11,406
$443,123,000 0.05%
Vanguard Index Value
No change
2,689
$431,342,000 0.05%
TE Connectivity Ltd
1.46%
2,841
$427,372,000 0.05%
Novo Nordisk A/s Adr
No change
2,934
$418,799,000 0.04%
Amdocs Ltd Adr
No change
5,218
$411,805,000 0.04%
Ishares Msci Eafe Etf
No change
5,128
$401,676,000 0.04%
Fidelity National Information
No change
5,284
$398,202,000 0.04%
Mastercard Incorporated
No change
875
$386,015,000 0.04%
Nike, Inc.
12.25%
5,013
$377,830,000 0.04%
Union Pacific Corp.
2.04%
1,652
$373,782,000 0.04%
Visa Inc
2.09%
1,415
$371,395,000 0.04%
Weyco Group, Inc
No change
12,096
$366,751,000 0.04%
Charles Schwab Corp.
23.14%
4,976
$366,681,000 0.04%
Cintas Corporation
16.18%
513
$359,233,000 0.04%
Us Bancorp
3.21%
9,042
$358,967,000 0.04%
Waste Mgmt Inc Del
No change
1,657
$353,504,000 0.04%
Microchip Technology, Inc.
No change
3,762
$344,223,000 0.04%
International Business Machine
Closed
1,787
$341,246,000
American Express Co.
1.45%
1,468
$339,915,000 0.04%
Nice Ltd Sponsored Adr
No change
1,963
$337,577,000 0.04%
Intel Corp.
39.54%
10,637
$329,428,000 0.03%
Altria Group Inc.
12.32%
7,116
$324,134,000 0.03%
Vanguard Ftse Developed Market
No change
6,514
$321,922,000 0.03%
Ishares Msci Acwi Ex Us
No change
5,905
$313,733,000 0.03%
Mckesson Corporation
No change
523
$305,453,000 0.03%
Vanguard Information Technolog
No change
519
$299,250,000 0.03%
Pfizer Inc.
Closed
10,350
$287,213,000
AMGEN Inc.
79.19%
919
$287,142,000 0.03%
Palantir Technologies Inc.
No change
10,811
$273,843,000 0.03%
Arthur J. Gallagher & Co
19.43%
1,037
$268,904,000 0.03%
Valero Energy Corp.
Closed
1,574
$268,666,000
Charles River Labs Intl
No change
1,300
$268,554,000 0.03%
Kimberly-Clark Corp.
No change
1,908
$263,686,000 0.03%
Applied Materials Inc.
No change
1,114
$262,893,000 0.03%
Ishares Tr Global Tech Etf
No change
3,143
$260,303,000 0.03%
Cummins Inc.
No change
904
$250,345,000 0.03%
Rockwell Automation Inc
No change
867
$238,668,000 0.03%
Danaher Corp.
No change
933
$233,110,000 0.02%
Parker-Hannifin Corp.
2.25%
455
$230,144,000 0.02%
Marathon Petroleum Corp
Closed
1,126
$226,889,000
Verizon Communications Inc
Closed
5,388
$226,080,000
Phillips 66
Closed
1,378
$225,083,000
Oracle Corp.
Opened
1,589
$224,367,000 0.02%
Alliant Energy Corp.
Closed
4,414
$222,466,000
Ark Innovation
3.20%
5,057
$222,255,000 0.02%
Caterpillar Inc.
0.60%
667
$222,178,000 0.02%
Marvell Technology Group Ltd
1.29%
3,136
$219,206,000 0.02%
Bristol-Myers Squibb Co.
Closed
3,998
$216,812,000
PayPal Holdings Inc
4.87%
3,722
$215,988,000 0.02%
Starbucks Corp.
6.70%
2,645
$205,913,000 0.02%
Honeywell International Inc
Opened
957
$204,358,000 0.02%
Genuine Parts Co.
Closed
1,313
$203,423,000
GE Aerospace
Closed
1,146
$201,157,000
Xcel Energy Inc.
Closed
3,737
$200,864,000
Barrick Gold Corp Adr
No change
11,000
$183,480,000 0.02%
Ford Motor Co.
Closed
11,789
$156,558,000
Ab High Income Municipal Advis
Opened
12,823
$133,099,000 0.01%
New York Cmnty Bancorp Inc
Opened
10,000
$32,200,000 0.00%
First Ctzns Bancshares Inc
Opened
20,000
$20,209,000 0.00%
Terran Orbital Corporation
No change
10,000
$8,200,000 0.00%
No transactions found
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