SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: FIRST BUSINESS FINANCIAL SERVICES, INC.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Ended December 31, 2023
Context: This filing discloses the equity securities held by the company at the end of the reporting period. As a Form 13F, it details investment positions rather than the company's own operating financial results (revenue, profit, etc.).
Key Financial Metrics and Portfolio Composition
The filing lists specific holdings but does not provide aggregate portfolio value, revenue, profit, or cash flow metrics for the reporting company itself. Key portfolio observations include:
- Significant Self-Holding: The company holds 349,522 shares of its own stock (First Business Financial Services, Inc.), valued at approximately $14,015,832. Voting authority for these shares is listed as "None."
- Top Equity Holdings (by Value):
- iShares Core MSCI EAFE ETF: ~$115.3M (1,638,650 shares)
- Vanguard Total Stock Market ETF: ~$213.3M (899,330 shares)
- iShares Core S&P Small-Cap ETF: ~$60.1M (555,139 shares)
- iShares Core US Aggregate Bond Fund: ~$45.3M (456,548 shares)
- iShares Russell 1000 Growth ETF: ~$64.3M (211,965 shares)
- Notable Individual Stocks: Significant positions in Apple Inc. (~$9.98M), Microsoft Corp (~$6.72M), and Amazon.com Inc (~$1.40M).
- Voting Authority: The company exercises "Sole" voting discretion for the vast majority of listed securities. Some holdings show "Shared" or "None" authority, often correlating with ETFs or specific corporate structures.
Material Changes and Comparisons
Comparison Data: The filing text provided does not contain data for the prior comparable period (September 30, 2023). Therefore, material changes in share counts or values versus the previous quarter cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: No specific risks or contingencies are detailed in this table. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column, noting that the provided text lists individual line items but no total sum.
- Confirm the nature of the 349,522 shares of First Business Financial Services, Inc. held by the company (e.g., treasury stock vs. investment) and why voting authority is listed as "None."
- Compare the current holdings against the Q3 2023 Form 13F to identify significant buy/sell activity in major positions like iShares Core MSCI EAFE ETF or Vanguard Total Stock Market ETF.
- Review the "Shared" voting authority entries (e.g., Abbott Laboratories, Abbvie Inc) to understand if these are held in joint accounts or managed by third parties.