SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: FIRST BUSINESS FINANCIAL SERVICES, INC.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: As of September 30, 2019
Context: This filing discloses the equity securities held by the company at the end of the quarter. It does not contain the company's own financial performance data (revenue, profit, cash flow) but rather its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of common stocks and exchange-traded funds (ETFs). Key metrics include:
- Total Holdings: The table lists approximately 100 distinct issuers.
- Top Holdings by Value (in thousands):
- iShares Core MSCI EAFE ETF: $67,990
- iShares Core S&P Small-Cap: $38,337
- iShares Russell 1000 Value ETF: $63,409
- iShares MSCI EAFE ETF: $28,465
- iShares Core S&P Mid-Cap: $26,265
- Vanguard Total Stock Market ETF: $139,824
- Significant Equity Positions:
- Fiserv Inc: $9,931
- First Business Financial Services (Own Stock): $8,764
- Apple Inc: $2,594
- Microsoft Corp: $1,634
- Voting Authority: The company reports "SOLE" discretion for the vast majority of holdings. Some positions (e.g., Alibaba, Altria, Apple) show shared or none voting authority for specific share blocks.
Material Changes and Comparisons
Comparison to Prior Period: The filing text provided does not contain data for the prior quarter (June 30, 2019). Therefore, material changes in holdings, additions, or deletions cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not include management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: No specific risks or contingencies are disclosed in this table. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Self-Holding: The company holds 363,961 shares of its own stock (First Business Financial Services) valued at $8,764 (in thousands), with no sole voting authority reported for these shares.
- ETF Concentration: A significant portion of the reported value is concentrated in broad market ETFs (iShares and Vanguard series), suggesting a passive investment strategy for a large segment of the portfolio.
- Financial Data Absence: Investors seeking the company's operational revenue, net income, or liquidity ratios must refer to the company's Form 10-Q or 10-K filings, as this document only lists asset holdings.
- Valuation Basis: All values are reported in thousands of dollars based on the market price as of September 30, 2019.