Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in FBIZ held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 870K | $46.9M | +0.1% | 10.431% | 0.00% |
| 2 | DIMENSIONAL FUND ADVISORS LP | 500K | $27.0M | +0.1% | 5.990% | 0.01% |
| 3 | FIRST BUSINESS FINANCIAL SERVICES, INC. | 361K | $19.5M | 0.0% | 4.331% | 1.73% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 341K | $18.4M | — | 4.082% | 0.00% |
| 5 | MANUFACTURERS LIFE INSURANCE COMPANY, THE | 245K | $13.2M | -1.5% | 2.934% | 0.01% |
| 6 | AMERICAN CENTURY COMPANIES INC | 240K | $13.0M | +10.7% | 2.878% | 0.01% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 200K | $10.8M | -15.0% | 2.395% | 0.00% |
| 8 | STATE STREET CORP | 174K | $9.4M | +9.9% | 2.082% | 0.00% |
| 9 | BANC FUNDS CO LLC | 166K | $9.0M | 0.0% | 1.992% | 1.67% |
| 10 | Cutler Capital Management, LLC | 155K | $8.3M | +0.5% | 1.853% | 2.30% |
| 11 | Pacific Ridge Capital Partners, LLC | 141K | $7.6M | +0.3% | 1.689% | 1.65% |
| 12 | RENAISSANCE TECHNOLOGIES LLC | 122K | $6.6M | -4.5% | 1.468% | 0.01% |
| 13 | FEDERATED HERMES, INC. | 116K | $6.3M | +10.8% | 1.392% | 0.01% |
| 14 | De Lisle Partners LLP | 99K | $5.3M | +2.1% | 1.184% | 0.64% |
| 15 | AQR CAPITAL MANAGEMENT LLC | 95K | $5.1M | -10.7% | 1.134% | 0.00% |
| 16 | VANGUARD PORTFOLIO MANAGEMENT LLC | 92K | $5.0M | — | 1.106% | 0.00% |
| 17 | Hillsdale Investment Management Inc. | 83K | $4.5M | 0.0% | 0.996% | 0.12% |
| 18 | NORTHERN TRUST CORP | 79K | $4.3M | +5.2% | 0.953% | 0.00% |
| 19 | BRIDGEWAY CAPITAL MANAGEMENT, LLC | 77K | $4.2M | +5.0% | 0.927% | 0.08% |
| 20 | MORGAN STANLEY | 76K | $4.1M | +48.7% | 0.908% | 0.00% |
| 21 | Qube Research & Technologies Ltd | 60K | $3.3M | +62.3% | 0.725% | 0.00% |
| 22 | ALLIANCEBERNSTEIN L.P. | 59K | $3.2M | -16.1% | 0.707% | 0.00% |
| 23 | GOLDMAN SACHS GROUP INC | 55K | $3.0M | +5.3% | 0.664% | 0.00% |
| 24 | VISTA INVESTMENT MANAGEMENT | 53K | $2.8M | +0.1% | 0.632% | 0.95% |
| 25 | VANGUARD FIDUCIARY TRUST CO | 52K | $2.8M | — | 0.620% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in FBIZ — a direct measure of their conviction.
Filings activity in FBIZ during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 141 | +1.4% | 58.67% | 0.01 pp | $297M | 0.0% |
| Q4 2025 | 139 | +5.3% | 58.68% | +3.68 pp | $297M | +6.7% |
| Q3 2025 | 132 | +14% | 55.00% | +1.57 pp | $278M | +2.9% |
| Q2 2025 | 116 | +0.0% | 53.43% | +3.92 pp | $270M | +7.9% |
| Q1 2025 | 116 | +10% | 49.51% | +1.53 pp | $250M | +3.2% |
| Q4 2024 | 105 | +12% | 47.98% | +3.61 pp | $243M | +8.1% |
| Q3 2024 | 94 | +5.6% | 44.37% | +9.42 pp | $224M | +27% |
| Q2 2024 | 89 | — | 34.95% | — | $177M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying FBIZ stock.
Based on Q1 2026 13F filings, institutional ownership of First Business Financial Services, Inc. stands at 58.7%, held across 141 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of FBIZ, with approximately 870,202 shares worth $0.05B as of Q1 2026.
Yes — 1 widely-followed marquee investor appear among the top 25 institutional holders of FBIZ, including RENAISSANCE TECHNOLOGIES LLC.
Our composite Smart Money Score for FBIZ is 50 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
16 institutions opened new positions in FBIZ during Q1 2026, while 14 fully exited. 54 added to existing positions and 69 trimmed.
FBIZ institutional ownership fell by 0.01 percentage points quarter-over-quarter, with a net change of +2 holders.
The top 10 institutions account for 59.1% of all reported 13F value in FBIZ, and the top 25 account for 82.0%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
First Business Financial Services, Inc. (FBIZ) Institutional Ownership