Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by First Business Financial Services, Inc. for the reporting period ended September 30, 2024. The document discloses the company's equity holdings and voting authority as required by the Securities and Exchange Commission. It does not contain operational financial statements (revenue, profit, cash flow) for First Business Financial Services, Inc. itself, but rather details its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing lists specific holdings with values, share counts, and voting authority. Key portfolio metrics include:
- Total Disclosed Holdings: The table lists over 100 individual equity positions, including common stocks and exchange-traded funds (ETFs).
- Largest Equity Position by Value: iShares Core MSCI EAFE ETF (Value: $129,382,939; Shares: 1,657,693).
- Largest Single Stock Position by Value: Apple Inc. (Value: $13,547,552; Shares: 58,144).
- Significant ETF Holdings:
- iShares Core S&P Mid-Cap ETF: $46,717,876
- iShares Core S&P Small-Cap ETF: $61,948,449
- iShares Core Dividend Growth ETF: $56,326,652
- Vanguard Total Stock Market ETF: $248,506,313
- Self-Holding: The company holds 365,912 shares of its own stock (First Business Financial Services, Inc.) valued at $16,681,928, with voting authority held entirely by others (Shared/None column indicates 365,912 in the "None" or "Shared" column context, specifically listed as 0 Sole, 0 Shared, 365,912 None).
Material Changes Versus Prior Period
Not Applicable. This filing is a snapshot of holdings as of September 30, 2024. The provided text does not contain comparative data from the prior quarter (June 30, 2024) or year-over-year figures to determine material changes in position size or portfolio composition.
Guidance, Outlook, and Risks
Not Applicable. Form 13F filings are regulatory disclosures of holdings and do not include management commentary, forward-looking guidance, risk factors, or contingency plans. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk associated with the top holdings, particularly the significant allocation to broad market ETFs (e.g., Vanguard Total Stock Market ETF at ~$248M and iShares Core MSCI EAFE ETF at ~$129M).
- Voting Authority: Note that for many positions, voting authority is listed as "Sole," but for the company's own stock and several others (e.g., Abbott Laboratories, Abbvie Inc.), authority is split between "Sole" and "Shared" or "None."
- Self-Holding Structure: Confirm the nature of the 365,912 shares of First Business Financial Services, Inc. held by the entity, as the voting authority is listed as "None" for the reporting manager, suggesting these may be held in a specific capacity (e.g., treasury or employee benefit plan) where the manager does not exercise voting rights.
- Data Limitations: Acknowledge that this document does not provide the company's own financial health (revenue, earnings, debt) and should be cross-referenced with the company's 10-Q or 10-K filings for operational performance.