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, 2021
Context: This filing discloses the equity securities held by the company as a registered investment manager. It details the issuer, class of security, CUSIP, value, and voting authority for each position.
Key Financial Metrics and Portfolio Composition
The filing provides a snapshot of the portfolio's asset allocation rather than the company's operational financials (revenue, profit, cash flow). Key portfolio metrics include:
- Top Holdings by Value:
- iShares Core MSCI EAFE ETF: $1,507,987
- Vanguard Total Stock Market ETF: $895,626
- iShares Edge MSCI USA Momentum ETF: $383,461
- First Business Financial Services, Inc. (Own Stock): $341,117
- iShares Russell 1000 Growth ETF: $296,157
- Significant Equity Positions:
- Apple Inc.: $52,856
- Fiserv Inc.: $65,095
- Cisco Systems Inc.: $40,111
- CSX Corp: $38,002
- Voting Authority: The company reports "SOLE" voting authority for the majority of listed positions. Several positions (e.g., AT&T, Altria, Apple, Fiserv) show "SHARED" voting authority, indicating the company shares voting rights with other parties for those specific shares.
Material Changes and Comparisons
Comparison to Prior Period: The provided text contains only the data for the period ended June 30, 2021. It does not include the prior quarter's data or a summary of changes (purchases/sales) between periods. Therefore, material changes versus the prior comparable period cannot be determined from this source text.
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: The filing does not disclose specific risks or contingencies. It includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Unusual Items: The portfolio includes a significant holding of its own stock (First Business Financial Services, Inc.) valued at $341,117, with 0 shares under sole voting authority and 341,117 shares under shared voting authority. Additionally, the portfolio holds a position in Petroteq Energy Inc. valued at $100,000, which is a relatively small value compared to the share count (100,000 shares), suggesting a low per-share price or specific valuation context.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "VALUE" column to assess the scale of assets managed.
- Confirm the extent of "SHARED" voting authority positions to understand potential conflicts or co-investment structures.
- Review the concentration of holdings in Exchange Traded Funds (ETFs) versus individual equities to gauge the investment strategy (passive vs. active).
- Check the specific CUSIPs for the "First Business Financial Services, Inc." holding to ensure it represents treasury stock or a specific internal fund structure.
- Compare this filing with the subsequent Form 13F (filed for September 30, 2021) to identify actual buying and selling activity.