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 March 31, 2018. The document discloses the company's holdings in equity securities and certain other investment vehicles as required by the Securities and Exchange Commission.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Reported Holdings: The table lists 68 distinct issuers.
- Top Holdings by Value:
- Vanguard Total Stock Market ETF: $170,857,000 (1,258,891 shares)
- Western Asset Core Plus Bond Fund: $17,622,000 (1,517,834 shares)
- iShares MSCI EAFE ETF: $86,058,000 (1,235,050 shares)
- iShares Russell 1000 Growth ETF: $52,483,000 (385,649 shares)
- Financial Select Sector SPDR ETF: $22,077,000 (800,753 shares)
- Significant Individual Equity Position: The company holds 385,222 shares of its own stock (First Business Financial Services Inc) valued at $10,020,000.
- Voting Authority: The company reports "Sole" voting authority for all listed positions.
Material Changes Versus Prior Period
Not Applicable. This filing is a snapshot of holdings as of March 31, 2018. The provided text does not contain comparative data from the prior quarter (December 31, 2017) or year-over-year figures to determine material changes in portfolio composition or value.
Guidance, Outlook, and Risks
Not Applicable. Form 13F filings are strictly regulatory disclosures of investment holdings. They do not contain management commentary, financial guidance, risk factors, or outlook statements regarding the company's future performance or strategy.
Important Facts for Investor Verification
- Self-Holding: Verify the strategic intent behind holding $10.02 million of the company's own common stock (385,222 shares) within its investment portfolio.
- ETF Concentration: A significant portion of the reported value is concentrated in broad market ETFs (Vanguard, iShares, SPDR), suggesting a passive investment strategy for a large segment of the portfolio.
- Valuation Basis: Note that the "Value" column represents the cost or fair value at the reporting date; it does not reflect current market prices or unrealized gains/losses.
- Scope Limitation: This filing only covers equity securities and certain convertible securities; it does not disclose cash positions, debt obligations, or non-reportable assets.