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, 2019. The document discloses the company's holdings of equity securities as required by the Securities and Exchange Commission. It does not contain operational financial statements, revenue data, or management commentary regarding the company's own business performance.
Key Financial Metrics and Portfolio Composition
The filing details the specific securities held by the company rather than its own financial metrics (revenue, profit, cash flow). Key portfolio statistics include:
- Total Holdings: The table lists 88 distinct securities, including individual equities and Exchange Traded Funds (ETFs).
- Top Holdings by Value:
- Vanguard Total Stock Market ETF: 1,231,015 shares valued at $178,140,000.
- iShares Core MSCI EAFE ETF: 1,045,336 shares valued at $63,525,000.
- iShares Russell 1000 Value ETF: 493,196 shares valued at $60,905,000.
- iShares MSCI EAFE ETF: 481,532 shares valued at $31,232,000.
- iShares Core S&P Small-Cap ETF: 472,273 shares valued at $36,436,000.
- Significant Individual Equity Positions:
- Fiserv Inc: 101,152 shares valued at $8,930,000.
- First Business Financial Services Common: 386,157 shares valued at $7,731,000 (Self-holding).
- Apple Inc: 11,221 shares valued at $2,131,000.
- Bank of America Corp: 15,815 shares valued at $436,000.
- Voting Authority: The company reports "Sole" voting authority for all listed positions.
Material Changes
The filing text does not provide comparative data against the prior quarter (December 31, 2018). Consequently, material changes in holdings, value, or strategy cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F filing does not contain management guidance, future outlook, risk factors, or contingencies. It is a statutory disclosure of current holdings only. The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Self-Holding: The company holds a significant position in its own stock (First Business Financial Services Common), valued at approximately $7.7 million.
- Heavy ETF Exposure: A substantial portion of the reported portfolio value is concentrated in broad market and international ETFs (Vanguard and iShares series), suggesting a passive investment strategy for a large segment of assets.
- Financial Data Limitation: Investors seeking revenue, profit margins, or liquidity ratios for First Business Financial Services, Inc. must consult the company's 10-Q or 10-K filings, as this document contains only investment portfolio data.
- Valuation Basis: All values are reported in thousands (x$1,000) as of the period end date.