Ranked by reported Q2 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. | 928K | $58.6M | +6.7% | 11.102% | 0.00% |
| 2 | DIMENSIONAL FUND ADVISORS LP | 498K | $31.5M | -0.3% | 5.960% | 0.01% |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 343K | $21.7M | +0.9% | 4.108% | 0.00% |
| 4 | FIRST BUSINESS FINANCIAL SERVICES, INC. | 340K | $21.5M | -5.9% | 4.068% | 1.67% |
| 5 | AMERICAN CENTURY COMPANIES INC | 273K | $17.2M | +13.6% | 3.262% | 0.01% |
| 6 | MANUFACTURERS LIFE INSURANCE COMPANY, THE | 243K | $15.4M | -0.7% | 2.906% | 0.01% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 215K | $13.6M | +7.6% | 2.571% | 0.00% |
| 8 | STATE STREET CORP | 187K | $11.8M | +7.9% | 2.241% | 0.00% |
| 9 | BANC FUNDS CO LLC | 163K | $10.3M | -1.8% | 1.952% | 1.70% |
| 10 | Cutler Capital Management, LLC | 154K | $9.8M | -0.2% | 1.846% | 2.53% |
| 11 | Pacific Ridge Capital Partners, LLC | 140K | $8.8M | -0.8% | 1.672% | 1.60% |
| 12 | AQR CAPITAL MANAGEMENT LLC | 129K | $8.1M | +36.3% | 1.542% | 0.00% |
| 13 | FEDERATED HERMES, INC. | 126K | $7.9M | +8.1% | 1.502% | 0.01% |
| 14 | RENAISSANCE TECHNOLOGIES LLC | 121K | $7.6M | -1.3% | 1.445% | 0.01% |
| 15 | VANGUARD PORTFOLIO MANAGEMENT LLC | 102K | $6.4M | +10.1% | 1.214% | 0.00% |
| 16 | De Lisle Partners LLP | 99K | $6.3M | 0.0% | 1.182% | 0.68% |
| 17 | Hillsdale Investment Management Inc. | 92K | $5.8M | +10.3% | 1.096% | 0.13% |
| 18 | NORTHERN TRUST CORP | 83K | $5.3M | +4.9% | 0.997% | 0.00% |
| 19 | BRIDGEWAY CAPITAL MANAGEMENT, LLC | 81K | $5.1M | +4.1% | 0.963% | 0.09% |
| 20 | MORGAN STANLEY | 80K | $5.1M | +5.7% | 0.957% | 0.00% |
| 21 | TWO SIGMA INVESTMENTS, LP | 74K | $4.6M | +132.1% | 0.880% | 0.00% |
| 22 | Qube Research & Technologies Ltd | 62K | $3.9M | +1.8% | 0.736% | 0.00% |
| 23 | VANGUARD FIDUCIARY TRUST CO | 54K | $3.4M | +5.2% | 0.651% | 0.00% |
| 24 | VISTA INVESTMENT MANAGEMENT | 52K | $3.3M | -0.8% | 0.626% | 0.99% |
| 25 | AMERIPRISE FINANCIAL INC | 49K | $3.1M | +0.7% | 0.584% | 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 Q2 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 |
|---|---|---|---|---|---|---|
| Q2 2026 | 141 | 2.1% | 71.08% | +1.79 pp | $361M | +21% |
| Q1 2026 | 144 | +3.6% | 69.29% | +0.15 pp | $297M | +0.2% |
| Q4 2025 | 139 | +5.3% | 69.14% | +0.77 pp | $297M | +6.7% |
| Q3 2025 | 132 | +14% | 68.37% | +0.85 pp | $278M | +2.9% |
| Q2 2025 | 116 | +0.0% | 67.52% | 0.06 pp | $270M | +7.9% |
| Q1 2025 | 116 | +10% | 67.58% | +0.60 pp | $250M | +3.2% |
| Q4 2024 | 105 | +12% | 66.98% | +3.08 pp | $243M | +8.1% |
| Q3 2024 | 94 | — | 63.90% | — | $224M | — |
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 Q2 2026 13F filings, institutional ownership of First Business Financial Services, Inc. stands at 71.1%, held across 141 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of FBIZ, with approximately 928,380 shares worth $0.06B as of Q2 2026.
Yes — 2 widely-followed marquee investors appear among the top 25 institutional holders of FBIZ, including RENAISSANCE TECHNOLOGIES LLC, TWO SIGMA INVESTMENTS, LP.
Our composite Smart Money Score for FBIZ is 60 out of 100 (Bullish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
11 institutions opened new positions in FBIZ during Q2 2026, while 13 fully exited. 109 added to existing positions and 20 trimmed.
FBIZ institutional ownership rose by 1.79 percentage points quarter-over-quarter, with a net change of -3 holders.
The top 10 institutions account for 58.6% 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