SEC Form 13F Summary: First Business Financial Services, Inc.
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by First Business Financial Services, Inc. for the reporting period ending September 30, 2018. The form discloses the company's holdings of equity securities and certain other securities as of the end of the quarter. It is a regulatory disclosure of investment positions, not a financial performance report.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities, mutual funds, and exchange-traded funds (ETFs). Key observations include:
- Total Holdings: The table lists over 100 distinct securities, including individual stocks, bond funds, and broad market ETFs.
- Top Holdings by Share Count:
- Varigen Biosciences Corp: 936,555 shares (Value: $130,000)
- Cool Technologies Inc: 750,000 shares (Value: $29,000)
- Western Asset Core Plus Bond Fund: 1,663,007 shares (Value: $18,659,000)
- Baird Intermediate Bond Fund: 1,792,678 shares (Value: $19,235,000)
- Vanguard Total Stock Market ETF: 1,280,069 shares (Value: $191,562,000)
- Self-Holding: The company holds 387,022 shares of its own common stock (First Business Financial Services), valued at $8,971,000, with voting authority listed as "None" (likely held in a treasury or restricted capacity).
- Investment Discretion: All listed positions are reported with "Sole" voting authority, indicating the company manages these assets directly.
Material Changes and Comparisons
The filing text provided does not contain data for the prior comparable period (June 30, 2018). Therefore, no material changes, additions, or deletions in the portfolio can be calculated from this document alone.
Guidance, Outlook, and Risks
Form 13F filings are historical snapshots of holdings and do not contain management commentary, forward-looking guidance, risk factors, or contingency plans. The document 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 to assess the scale of the company's investment assets.
- Confirm the nature of the "None" voting authority on the company's own stock (First Business Financial Services) to understand if these are treasury shares or restricted holdings.
- Compare the share counts of high-volume, low-value holdings (e.g., Varigen Biosciences, Cool Technologies) against current market prices to assess potential concentration risk or speculative positioning.
- Cross-reference the "Sole" discretion designation with the company's investment policy statement to ensure compliance with internal governance.
- Note that this filing does not reflect the company's operating revenue, profit, or cash flow; refer to Form 10-Q or 10-K for operational financials.