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 March 31, 2022
Context: This filing discloses the equity securities held by the investment manager at the end of the reporting period. It is a regulatory disclosure of portfolio composition, not a financial performance report of the company itself.
Key Financial Metrics and Portfolio Composition
The filing details the specific holdings, share counts, and values (in thousands) of the portfolio. Key metrics derived from the table include:
- Total Portfolio Value: The filing lists individual security values but does not explicitly state a consolidated total portfolio value in the text provided.
- Largest Single Holding: iShares Core MSCI EAFE ETF (1,701,232 shares, valued at $118,253,000).
- Significant Equity Holdings:
- First Business Financial Services, Inc. (Own Stock): 342,963 shares valued at $11,253,000.
- Vanguard Total Stock Market ETF: 937,681 shares valued at $213,482,000.
- iShares Core S&P Small-Cap ETF: 573,561 shares valued at $61,876,000.
- iShares Core US Aggregate Bond ETF: 535,429 shares valued at $57,344,000.
- Voting Authority: The manager reports "SOLE" voting authority for the vast majority of holdings. Some positions (e.g., AT&T, Apple, Fiserv) show "SHARED" voting authority.
Material Changes and Comparisons
Comparison to Prior Period: The provided text contains only the snapshot of holdings as of March 31, 2022. It does not include data from the prior quarter (December 31, 2021). Therefore, material changes in position size, new acquisitions, or divestitures cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are factual disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy. No specific operational risks or contingencies are detailed in this table format.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "VALUE" column, as the total is not explicitly stated in the text.
- Confirm the proportion of the portfolio held in Exchange Traded Funds (ETFs) versus individual equities, noting the heavy weighting in iShares and Vanguard products.
- Review the "SHARED" voting authority entries to understand the extent of third-party influence on specific holdings.
- Compare this snapshot against the previous quarter's 13F filing to identify actual turnover and strategic shifts.
- Validate the valuation of the company's own stock (First Business Financial Services) held within the portfolio against the market price on March 31, 2022.