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: Quarter ended June 30, 2018
Context: This filing discloses the equity securities held by the company at the end of the reporting period. It does not contain operational financial statements (revenue, profit, cash flow) for First Business Financial Services, Inc. itself, but rather a list of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of common stocks and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Portfolio Value: The sum of the "Value" column (in thousands) across all holdings is approximately $1,056,000,000 (calculated from the provided data points).
- Largest Single Holding: Baird Intermediate Bond Fund (1,717,496 shares, valued at $18,480,000).
- Significant Equity Holdings:
- First Business Financial Services, Inc. (Own stock): 385,444 shares, valued at $9,998,000.
- Vanguard Total Stock Market ETF: 1,281,578 shares, valued at $179,972,000.
- Western Asset Core Plus Bond Fund: 1,590,585 shares, valued at $17,958,000.
- iShares MSCI EAFE ETF: 862,860 shares, valued at $57,785,000.
- Notable Speculative Holding: Cool Technologies Inc. (750,000 shares, valued at $53,000).
- Voting Authority: The company reports "SOLE" voting authority for all listed positions.
Material Changes and Comparisons
Comparison to Prior Period: The provided text contains only the snapshot of holdings as of June 30, 2018. It does not include the prior quarter's data (March 31, 2018) or a summary of purchases and sales. Therefore, material changes in position size or new entries cannot be determined from this document alone.
Guidance, Outlook, and Risks
Management Commentary: None. Form 13F is a regulatory disclosure of holdings and does not contain management discussion, financial guidance, or outlook.
Risks and Contingencies: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy. No specific risk factors or contingencies regarding the portfolio are disclosed in this table.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio against the company's balance sheet to confirm the "Investments" line item.
- Confirm the ownership percentage of the company's own stock (First Business Financial Services, Inc.) held in the portfolio (385,444 shares).
- Review the concentration risk associated with the top 5 holdings, which include significant ETF positions and bond funds.
- Investigate the valuation of the "Cool Technologies Inc." holding, as the share count (750,000) is high relative to the reported value ($53,000), suggesting a low per-share price.
- Compare this list with the prior quarter's 13F filing to identify active trading strategies or significant portfolio rebalancing.