SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: FIRST BUSINESS FINANCIAL SERVICES, INC.
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: December 31, 2020
Context: This filing discloses the equity securities held by the company as of the end of the fourth quarter of 2020. It is a regulatory requirement for institutional investment managers to report their holdings to the SEC.
Key Financial Metrics and Holdings
The filing provides a list of holdings rather than the company's own financial performance (revenue, profit, cash flow). Key metrics derived from the table include:
- Total Reported Value: The sum of the "Value" column (in thousands) across all listed securities represents the total value of the reported portfolio.
- Top Holdings by Value:
- iShares Core S&P Small-Cap ETF: $49,761,000 (541,465 shares)
- iShares Edge MSCI Min Vol EAFE: $47,697,000 (649,728 shares)
- iShares Core MSCI EAFE ETF: $53,594,000 (775,714 shares)
- Vanguard Total Stock Market ETF: $163,943,000 (842,289 shares)
- iShares Edge MSCI USA Momentum: $56,537,000 (350,531 shares)
- Significant Individual Stock Positions:
- Apple Inc: $6,334,000 (47,733 shares)
- Fiserv Inc: $7,366,000 (64,694 shares)
- First Business Financial Services, Inc (Self-Holding): $6,344,000 (344,618 shares)
- Microsoft Corp: $2,439,000 (10,966 shares)
- Voting Authority: The company reports "SOLE" voting authority for the majority of listed positions. Some positions show "SHARED" or "NONE" authority, often associated with derivatives or specific fund structures.
Material Changes
The filing text does not provide comparative data against the prior period (September 30, 2020). Therefore, material changes in holdings, additions, or deletions cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical snapshots of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. No specific operational risks or contingencies are detailed in this table.
Important Facts for Investor Verification
- Portfolio Composition: The portfolio is heavily weighted toward Exchange Traded Funds (ETFs), particularly iShares and Vanguard products, suggesting a passive or index-tracking strategy for a significant portion of assets.
- Self-Holding: The company holds a significant position in its own stock (First Business Financial Services, Inc), valued at approximately $6.3 million.
- Derivatives and Options: Several entries (e.g., AT&T, Altria, Amazon) show values in the "Put/Call" columns or discrepancies between shares and voting authority, indicating the use of options or other derivative instruments.
- Data Limitations: This document does not report the company's own financial health (revenue, earnings, debt). Investors must refer to the company's 10-K or 10-Q filings for that information.