First Business Financial Services (FBIZ) 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ADMA Biologics Inc	Com	000899104	343,000	20,000	SH		SOLE		0	0	20,000
Ark Innovation	Com	00214Q104	287,086	5,057	SH		SOLE		5,057	0	0
Abbott Laboratories	Com	002824100	615,658	5,443	SH		SOLE		2,921	0	2,522
Abbvie Inc Com	Com	00287Y109	1,316,579	7,409	SH		SOLE		5,404	0	2,005
Adobe Inc	Com	00724F101	1,272,674	2,862	SH		SOLE		2,862	0	0
Advanced Micro Devices Inc	Com	007903107	402,351	3,331	SH		SOLE		3,331	0	0
Allegheny Technologies Inc	Com	01741R102	740,563	13,455	SH		SOLE		13,455	0	0
Alliant Energy Corp	Com	018802108	923,412	15,614	SH		SOLE		2,498	0	13,116
Alphabet Inc Cap Stk Cl C	Com	02079K107	1,423,729	7,476	SH		SOLE		7,476	0	0
Alphabet Inc Cap Stk Cl A	Com	02079K305	7,056,158	37,275	SH		SOLE		37,275	0	0
Altria Group Inc	Com	02209S103	372,096	7,116	SH		SOLE		363	0	6,753
Amazon.com Inc	Com	023135106	1,898,601	8,654	SH		SOLE		8,654	0	0
Ameren Corporation	Com	023608102	994,357	11,155	SH		SOLE		1,155	0	10,000
American Express CO	Com	025816109	435,688	1,468	SH		SOLE		1,468	0	0
CENCORA INC	Com	03073E105	3,052,278	13,585	SH		SOLE		13,585	0	0
Ameriprise Financial Inc	Com	03076C106	581,946	1,093	SH		SOLE		1,093	0	0
Analog Devices Inc	Com	032654105	2,809,571	13,224	SH		SOLE		13,224	0	0
Apple Inc	Com	037833100	14,706,666	58,728	SH		SOLE		54,116	0	4,612
Arista Networks Inc	Com	040413205	6,567,140	59,415	SH		SOLE		59,415	0	0
Bank of America Corp	Com	060505104	2,678,621	60,947	SH		SOLE		60,947	0	0
Berkshire Hathaway INC-CL B	Com	084670702	773,296	1,706	SH		SOLE		1,597	0	109
Blackrock Inc New	Com	09290D101	850,841	830	SH		SOLE		830	0	0
Broadcom Inc	Com	11135F101	8,822,208	38,053	SH		SOLE		38,053	0	0
CSX Corp Com	Com	126408103	1,931,037	59,840	SH		SOLE		59,840	0	0
Caterpillar Inc	Com	149123101	5,320,601	14,667	SH		SOLE		584	0	14,083
Charles River Labs Intl	Com	159864107	239,980	1,300	SH		SOLE		1,300	0	0
Chevron Corp	Com	166764100	815,304	5,629	SH		SOLE		2,276	0	3,353
Ciena Corp	Com	171779309	1,906,020	22,474	SH		SOLE		22,474	0	0
Cisco Systems Inc	Com	17275R102	3,084,675	52,106	SH		SOLE		49,227	0	2,879
Cintas Corporation	Com	172908105	377,093	2,064	SH		SOLE		2,064	0	0
Citigroup Inc	Com	172967424	2,956,310	41,999	SH		SOLE		41,999	0	0
Coca-Cola Co	Com	191216100	1,490,816	23,945	SH		SOLE		3,185	0	20,760
Corning Inc	Com	219350105	452,343	9,519	SH		SOLE		9,519	0	0
Corteva Inc Com	Com	22052L104	2,395,965	42,064	SH		SOLE		42,064	0	0
Costco Wholesale Corp	Com	22160K105	3,830,009	4,180	SH		SOLE		4,180	0	0
Cummins Inc	Com	231021106	301,190	864	SH		SOLE		864	0	0
Danaher Corp	Com	235851102	214,170	933	SH		SOLE		933	0	0
Darden Restaurants Inc	Com	237194105	2,099,702	11,247	SH		SOLE		11,247	0	0
Deere & Co Com	Com	244199105	4,253,948	10,040	SH		SOLE		40	0	10,000
Walt Disney Company	Com	254687106	2,203,728	19,791	SH		SOLE		19,791	0	0
Douglas Dynamics Inc	Com	25960R105	472,600	20,000	SH		SOLE		0	0	20,000
Duke Energy Corp	Com	26441C204	384,201	3,566	SH		SOLE		3,566	0	0
EOG Res Inc	Com	26875P101	1,422,541	11,605	SH		SOLE		11,605	0	0
Electronic Arts Inc	Com	285512109	2,324,122	15,886	SH		SOLE		15,886	0	0
Equinix Inc	Com	29444U700	2,648,578	2,809	SH		SOLE		2,809	0	0
Expedia Group Inc New	Com	30212P303	1,929,447	10,355	SH		SOLE		10,355	0	0
Exxon Mobil Corp	Com	30231G102	2,973,880	27,646	SH		SOLE		23,760	0	3,886
Meta Platforms Inc	Com	30303M102	549,208	938	SH		SOLE		938	0	0
Fidelity National Information	Com	31620M106	320,092	3,963	SH		SOLE		1,037	0	2,926
First Business Financial Servi	Com	319390100	17,409,114	376,088	SH		SOLE		0	0	376,088
Ford Motor Co	Com	345370860	180,111	18,193	SH		SOLE		17,193	0	1,000
Arthur J. Gallagher & Co	Com	363576109	294,352	1,037	SH		SOLE		1,037	0	0
General Dynamics Corp	Com	369550108	2,522,653	9,574	SH		SOLE		9,574	0	0
Hilton Worldwide Hldgs Inc	Com	43300A203	1,752,364	7,090	SH		SOLE		7,090	0	0
Home Depot Inc	Com	437076102	667,507	1,716	SH		SOLE		1,386	0	330
Honeywell International Inc	Com	438516106	216,177	957	SH		SOLE		957	0	0
Illinois Tool Works Inc	Com	452308109	844,608	3,331	SH		SOLE		3,331	0	0
Intercontinental Exchange Inc	Com	45866F104	2,327,536	15,620	SH		SOLE		15,620	0	0
International Business Machine	Com	459200101	226,425	1,030	SH		SOLE		955	0	75
Intuitive Surgical Inc	Com	46120E602	652,972	1,251	SH		SOLE		1,251	0	0
Iqvia Holdings Inc	Com	46266C105	1,926,977	9,806	SH		SOLE		9,806	0	0
iShares S&P 500 Core	Com	464287200	3,457,318	5,873	SH		SOLE		5,873	0	0
iShares Core US Aggregate Bond	Com	464287226	40,370,575	416,621	SH		SOLE		416,621	0	0
Ishares Tr Global Tech ETF	Com	464287291	266,369	3,143	SH		SOLE		3,143	0	0
iShares MSCI EAFE ETF	Com	464287465	387,728	5,128	SH		SOLE		5,128	0	0
iShares Core S&P Mid-Cap ETF	Com	464287507	47,026,728	754,722	SH		SOLE		754,722	0	0
iShares Russell 1000 Value ETF	Com	464287598	53,216,544	287,455	SH		SOLE		287,455	0	0
iShares Russell 1000 Growth ET	Com	464287614	81,583,788	203,157	SH		SOLE		203,157	0	0
iShares Russell 1000 ETF	Com	464287622	1,797,008	5,578	SH		SOLE		5,578	0	0
iShares Russell 2000 Value	Com	464287630	755,839	4,604	SH		SOLE		4,604	0	0
iShares Russell 2000 Growth	Com	464287648	901,452	3,132	SH		SOLE		3,132	0	0
iShares Russell 2000	Com	464287655	1,308,746	5,923	SH		SOLE		5,923	0	0
iShares Core S&P Small-Cap ETF	Com	464287804	61,459,731	533,412	SH		SOLE		533,412	0	0
iShares Global Clean Energy ET	Com	464288224	115,883	10,183	SH		SOLE		10,183	0	0
iShares MSCI ACWI ex US	Com	464288240	308,005	5,905	SH		SOLE		5,905	0	0
iShares National Muni Bond ETF	Com	464288414	4,279,261	40,162	SH		SOLE		40,162	0	0
iShares Edge MSCI Min Vol USA	Com	46429B697	771,940	8,694	SH		SOLE		8,694	0	0
iShares Edge MSCI USA Momentum	Com	46432F396	4,207,718	20,335	SH		SOLE		20,335	0	0
iShares Core MSCI EAFE ETF	Com	46432F842	116,951,261	1,664,076	SH		SOLE		1,664,076	0	0
iShares Core Dividend Growth	Com	46434V621	55,482,091	904,501	SH		SOLE		904,501	0	0
JPMorgan Chase & Co	Com	46625H100	7,516,107	31,355	SH		SOLE		31,355	0	0
JPMorgan Ultra-Short Income ET	Com	46641Q837	10,402,412	206,520	SH		SOLE		206,520	0	0
Johnson & Johnson	Com	478160104	769,957	5,324	SH		SOLE		5,224	0	100
Kroger Co	Com	501044101	1,569,598	25,668	SH		SOLE		25,668	0	0
Lam Research Corporation	Com	512807306	2,136,925	29,585	SH		SOLE		29,585	0	0
Lilly Eli Co	Com	532457108	4,643,580	6,015	SH		SOLE		6,015	0	0
Lowe's Companies Inc	Com	548661107	2,172,334	8,802	SH		SOLE		8,802	0	0
Lululemon Athletica Inc	Com	550021109	1,611,858	4,215	SH		SOLE		4,215	0	0
MGE Energy Inc	Com	55277P104	4,283,073	45,584	SH		SOLE		4,738	0	40,846
Marvell Technology Group LTD	Com	573874104	346,371	3,136	SH		SOLE		3,136	0	0
Mastercard Inc Cl A	Com	57636Q104	466,014	885	SH		SOLE		885	0	0
McDonald's Corp	Com	580135101	663,558	2,289	SH		SOLE		1,693	0	596
McKesson Corp	Com	58155Q103	298,063	523	SH		SOLE		523	0	0
Merck & Co Inc	Com	58933Y105	941,976	9,469	SH		SOLE		9,006	0	463
Microsoft Corp	Com	594918104	7,817,982	18,548	SH		SOLE		16,355	0	2,193
Microchip Technology Inc	Com	595017104	215,751	3,762	SH		SOLE		3,762	0	0
Mondelez Intl Inc Class A	Com	609207105	780,074	13,060	SH		SOLE		1,896	0	11,164
Morgan Stanley	Com	617446448	221,519	1,762	SH		SOLE		1,762	0	0
Nextera Energy Inc	Com	65339F101	1,768,879	24,674	SH		SOLE		21,558	0	3,116
Nice Ltd Sponsored ADR	Com	653656108	275,990	1,625	SH		SOLE		1,625	0	0
Nike Inc	Com	654106103	266,510	3,522	SH		SOLE		3,522	0	0
Novo Nordisk A/S ADR	Com	670100205	254,963	2,964	SH		SOLE		2,964	0	0
Nvidia Corp	Com	67066G104	11,305,741	84,189	SH		SOLE		84,189	0	0
Nuveen ESG Large Cap Value	Com	67092P300	852,479	21,653	SH		SOLE		21,653	0	0
Oracle Corp	Com	68389X105	268,124	1,609	SH		SOLE		1,609	0	0
PNC Financial Services Group I	Com	693475105	644,312	3,341	SH		SOLE		712	0	2,629
Palantir Technologies Inc	Com	69608A108	755,619	9,991	SH		SOLE		9,991	0	0
Parker Hannifin Corp	Com	701094104	289,394	455	SH		SOLE		455	0	0
Paypal Hldgs Inc	Com	70450Y103	294,372	3,449	SH		SOLE		3,449	0	0
Pepsico Inc	Com	713448108	822,340	5,408	SH		SOLE		4,810	0	598
Philip Morris International In	Com	718172109	1,262,110	10,487	SH		SOLE		1,099	0	9,388
Procter & Gamble Co	Com	742718109	1,255,699	7,490	SH		SOLE		6,490	0	1,000
Prudential Financial Inc	Com	744320102	2,196,124	18,528	SH		SOLE		18,528	0	0
Qualcomm Inc	Com	747525103	1,562,623	10,172	SH		SOLE		10,172	0	0
Quanta Services Inc	Com	74762E102	4,043,544	12,794	SH		SOLE		12,794	0	0
Republic Services Inc	Com	760759100	2,556,595	12,708	SH		SOLE		12,708	0	0
Rockwell Automation Inc	Com	773903109	247,780	867	SH		SOLE		867	0	0
SPDR S&P 500 ETF	Com	78462F103	25,101,806	42,830	SH		SOLE		42,830	0	0
Spdr Gold Trust Shs	Com	78463V107	1,331,715	5,500	SH		SOLE		5,500	0	0
SPDRA S&P MidCap 400 ETF	Com	78467Y107	522,305	917	SH		SOLE		917	0	0
Schlumberger Ltd	Com	806857108	1,539,504	40,154	SH		SOLE		35,154	0	5,000
The Charles Schwab Corp	Com	808513105	290,933	3,931	SH		SOLE		3,931	0	0
Consumer Discr Select Sect SPD	Com	81369Y407	1,267,802	5,651	SH		SOLE		5,651	0	0
Energy Select Sector SPDR ETF	Com	81369Y506	2,334,406	27,252	SH		SOLE		27,252	0	0
Financial Select Sector SPDR E	Com	81369Y605	1,164,511	24,095	SH		SOLE		24,095	0	0
Industrials Select Sector SPDR	Com	81369Y704	1,846,353	14,013	SH		SOLE		14,013	0	0
Technology Select Sector SPDR	Com	81369Y803	3,089,028	13,285	SH		SOLE		13,285	0	0
Communication Sector Select SP	Com	81369Y852	683,188	7,057	SH		SOLE		7,057	0	0
Servicenow Inc	Com	81762P102	453,731	428	SH		SOLE		428	0	0
Southern Company	Com	842587107	616,577	7,490	SH		SOLE		7,490	0	0
Starbucks Corp	Com	855244109	215,076	2,357	SH		SOLE		2,357	0	0
Stryker Corp	Com	863667101	3,206,245	8,905	SH		SOLE		8,905	0	0
TJX Companies Inc	Com	872540109	2,363,164	19,561	SH		SOLE		19,561	0	0
T Mobile US Inc	Com	872590104	3,273,426	14,830	SH		SOLE		14,830	0	0
Tetra Tech Inc New	Com	88162G103	699,391	17,555	SH		SOLE		17,555	0	0
Texas Instruments Inc	Com	882508104	2,370,501	12,642	SH		SOLE		12,642	0	0
Thermo Fisher Scientific Inc	Com	883556102	1,383,292	2,659	SH		SOLE		2,659	0	0
Thomson Reuters Corp.	Com	884903808	632,218	3,942	SH		SOLE		3,942	0	0
Toro Co	Com	891092108	400,500	5,000	SH		SOLE		0	0	5,000
Transdigm Group Inc	Com	893641100	826,267	652	SH		SOLE		652	0	0
US Bancorp	Com	902973304	601,271	12,571	SH		SOLE		4,189	0	8,382
Union Pacific Corp	Com	907818108	369,197	1,619	SH		SOLE		1,619	0	0
UnitedHealth Group Inc	Com	91324P102	2,244,501	4,437	SH		SOLE		4,437	0	0
Vanguard FTSE Developed Market	Com	921943858	311,499	6,514	SH		SOLE		6,514	0	0
Vanguard Information Technolog	Com	92204A702	322,714	519	SH		SOLE		519	0	0
Vanguard Communication SVCS ET	Com	92204A884	960,752	6,200	SH		SOLE		6,200	0	0
Vanguard Mid-Cap ETF	Com	922908629	748,016	2,832	SH		SOLE		2,832	0	0
Vanguard Index Growth	Com	922908736	616,481	1,502	SH		SOLE		1,502	0	0
Vanguard Index Value	Com	922908744	455,248	2,689	SH		SOLE		2,689	0	0
Vanguard Small-Cap ETF	Com	922908751	1,232,396	5,129	SH		SOLE		5,129	0	0
Vanguard Total Stock Market ET	Com	922908769	254,735,165	878,973	SH		SOLE		878,973	0	0
Visa Inc	Com	92826C839	379,248	1,200	SH		SOLE		1,200	0	0
Wal-Mart Inc	Com	931142103	727,860	8,056	SH		SOLE		8,056	0	0
Waste Mgmt Inc Del	Com	94106L109	334,366	1,657	SH		SOLE		1,657	0	0
Weyco Group Inc	Com	962149100	491,755	13,096	SH		SOLE		0	0	13,096
Wisdomtree Tr US Qtly Div Grt	Com	97717X669	205,805	2,543	SH		SOLE		2,543	0	0
Xcel Energy Inc.	Com	98389B100	288,783	4,277	SH		SOLE		4,140	0	137
Amdocs Ltd ADR	Com	G02602103	378,873	4,450	SH		SOLE		4,450	0	0
Aon PLC Shs Cl A	Com	G0403H108	586,149	1,632	SH		SOLE		1,632	0	0
Accenture PLC	Com	G1151C101	1,465,909	4,167	SH		SOLE		4,167	0	0
Eaton Corp PLC	Com	G29183103	684,316	2,062	SH		SOLE		2,062	0	0
TE Connectivity PLC ADR	Com	G87052109	400,316	2,800	SH		SOLE		2,800	0	0