Skip to main content
Livermore
Livermore
US stocksTW
ZHEN

First Command Advisory Services, Inc.

SEC CIK
0001727336
Latest filing
Nov 5, 2026

The latest 13F from First Command Advisory Services, Inc. covers Q3 2026 (filed Nov 5, 2026): 1,423 long positions worth $18.4B. The top 10 holdings make up 86.2% of the portfolio, and the largest is iShares Core S&P 500 ETF at 37.5%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2026

Full comparison

Share counts compared with Q2 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

New
309
Est. +$517.6M
Added
769
Est. +$2.50B
Reduced
224
Est. −$1.39B
Sold out
129
Est. −$10.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    37.5%$6.92B
  2. iShares Core S&P Mid-Cap ETF464287507
    13.9%$2.57B
  3. BlackRock ETF Trust09290C103
    11.6%$2.13B
  4. iShares Core S&P Small Cap ETF464287804
    5.0%$925.5M
  5. Invesco Nasdaq 100 ETF46138G649
    4.8%$876.5M

Share of portfolio

Top 5 holdings and the other 1,418 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF37.5%
  2. iShares Core S&P Mid-Cap ETF13.9%
  3. BlackRock ETF Trust11.6%
  4. iShares Core S&P Small Cap ETF5.0%
  5. Invesco Nasdaq 100 ETF4.8%
  6. Other 1,418 positions27.3%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P Mid-Cap ETF464287507
    +$1.41BAdded
  2. BNY Mellon ETF Trust09661T826
    +$456.1MNew
  3. American Beacon Select Funds02368W408
    +$325.1MAdded
  4. iShares Core S&P 500 ETF464287200
    +$249.0MAdded
  5. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$83.3MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. iShares Core S&P Mid-Cap ETF464287507
    +6.55 pp7.4% → 13.9%
  2. BNY Mellon ETF Trust09661T826
    +2.47 pp0.0% → 2.5%
  3. American Beacon Select Funds02368W408
    +1.76 pp<0.1% → 1.8%
  4. State Street SPDR Portfolio S&P 500 ETF78464A854
    +0.27 pp2.6% → 2.9%
  5. Dfa Invt Dimensions Group Inc U.S. SML CP Port25239Y188
    +0.19 pp0.0% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Russell Mid-Cap Growth ETF464287481
    −$537.4MReduced
  2. Invesco Nasdaq 100 ETF46138G649
    −$486.7MReduced
  3. Dimensional U.S. Small Cap ETF25434V500
    −$62.2MReduced
  4. iShares Core MSCI Eafe ETF46432F842
    −$45.6MReduced
  5. Dimensional ETF Trust25434V534
    −$42.3MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Russell Mid-Cap Growth ETF464287481
    −3.40 pp3.4% → <0.1%
  2. Invesco Nasdaq 100 ETF46138G649
    −3.31 pp8.1% → 4.8%
  3. Dimensional U.S. Small Cap ETF25434V500
    −0.40 pp0.4% → <0.1%
  4. iShares Core MSCI Eafe ETF46432F842
    −0.36 pp1.4% → 1.0%
  5. Dimensional ETF Trust25434V534
    −0.31 pp0.7% → 0.4%

Metrics

13F metrics for Q3 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$18.4B
+$1.63B (+9.7%) vs. prior quarter
Positions
1,423
+180 vs. prior quarter
Top 10 concentration
86.2%
Top 10 as share of value
Turnover
7.9%
Q3 2026, one quarter
Average holding period
16.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

23 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $18.4B (Q3 2026)

Q1 2021: $6.91BQ2 2021: $7.55BQ3 2021: $7.45BQ4 2021: $7.87BQ1 2022: $6.69BQ2 2022: $6.29BQ3 2022: $5.90BQ4 2022: $6.42BQ1 2023: $5.85BQ2 2023: $6.23BQ3 2023: $7.60BQ4 2023: $8.55BQ1 2024: $9.53BQ2 2024: $9.64BQ3 2024: $10.4BQ4 2024: $10.5BQ1 2025: $10.4BQ2 2025: $11.6BQ3 2025: $13.8BQ4 2025: $14.3BQ1 2026: $14.8BQ2 2026: $16.8BQ3 2026: $18.4B
Q1 2021Q3 2026
13F filings of First Command Advisory Services, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2026Nov 5, 20261,423$18.4BiShares Core S&P 500 ETFiShares Core S&P Mid-Cap ETFBlackRock ETF Trustvs. Q2 2026SEC
Q2 2026Aug 10, 20261,243$16.8BiShares Core S&P 500 ETFBlackRock ETF TrustInvesco Nasdaq 100 ETFvs. Q1 2026SEC
Q1 2026May 7, 20261,144$14.8BiShares Core S&P 500 ETFBlackRock ETF TrustInvesco Nasdaq 100 ETFvs. Q4 2025SEC
Q4 2025Feb 11, 2026783$14.3BiShares Core S&P 500 ETFBlackRock ETF TrustInvesco Nasdaq 100 ETFvs. Q3 2025SEC
Q3 2025Oct 31, 2025627$13.8BiShares Core S&P 500 ETFBlackRock ETF TrustInvesco Nasdaq 100 ETFvs. Q2 2025SEC
Q2 2025Aug 1, 2025611$11.6BiShares Core S&P 500 ETFInvesco Nasdaq 100 ETFiShares Core S&P Small Cap ETFvs. Q1 2025SEC
Q1 2025May 2, 2025616$10.4BiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFiShares Core S&P Mid-Cap ETFvs. Q4 2024SEC
Q4 2024Feb 5, 2025443$10.5BiShares Core S&P 500 ETFInvesco Nasdaq 100 ETFiShares Core S&P Small Cap ETFvs. Q3 2024SEC
Q3 2024Oct 25, 2024469$10.4BiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFInvesco Nasdaq 100 ETFvs. Q2 2024SEC
Q2 2024Jul 26, 2024513$9.64BiShares Core S&P 500 ETFInvesco Nasdaq 100 ETFiShares Core S&P Small Cap ETFvs. Q1 2024SEC
Q1 2024May 2, 2024583$9.53BiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFInvesco Nasdaq 100 ETFvs. Q4 2023SEC
Q4 2023Feb 1, 2024476$8.55BiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFInvesco Nasdaq 100 ETFvs. Q3 2023SEC
Q3 2023Nov 8, 2023468$7.60BiShares Core S&P 500 ETFiShares Core S&P Small Cap ETFInvesco Nasdaq 100 ETFvs. Q2 2023SEC
Q2 2023Jul 21, 202389$6.23BiShares Core S&P 500 ETFInvesco Nasdaq 100 ETFiShares Core S&P Small Cap ETFvs. Q1 2023SEC
Q1 2023Apr 14, 2023132$5.85BiShares Core S&P 500 ETFState Street SPDR Portfolio S&P 500 Growth ETFiShares Core S&P Small Cap ETFvs. Q4 2022SEC
Q4 2022Jan 20, 2023194$6.42BiShares Core S&P 500 ETFiShares Core Dividend Growth ETFiShares Core S&P Small Cap ETFvs. Q3 2022SEC
Q3 2022Oct 24, 2022103$5.90BiShares Core S&P 500 ETFiShares Core Dividend Growth ETFState Street SPDR Portfolio S&P 500 High Dividend ETFvs. Q2 2022SEC
Q2 2022Jul 21, 2022106$6.29BiShares Core S&P 500 ETFiShares Core Dividend Growth ETFState Street SPDR Portfolio S&P 500 High Dividend ETFvs. Q1 2022SEC
Q1 2022Apr 14, 202279$6.69BiShares Core Dividend Growth ETFiShares Core S&P 500 ETFGoldman Sachs ETF Trvs. Q4 2021SEC
Q4 2021Jan 25, 2022100$7.87BiShares Core Dividend Growth ETFiShares Core S&P 500 ETFGoldman Sachs ETF Trvs. Q3 2021SEC
Q3 2021Nov 12, 2021154$7.45BiShares Core S&P 500 ETFiShares Core Dividend Growth ETFGoldman Sachs ETF Trvs. Q2 2021SEC
Q2 2021Jul 20, 202167$7.55BiShares Core S&P 500 ETFiShares Core Dividend Growth ETFGoldman Sachs ETF Trvs. Q1 2021SEC
Q1 2021Apr 20, 202154$6.91BiShares Core S&P 500 ETFiShares Core Dividend Growth ETFGoldman Sachs ETF Tr–SEC

13D and 13G filings

Companies where First Command Advisory Services, Inc. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

7 companies, largest stake first.

Companies where First Command Advisory Services, Inc. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
Dimensional ETF TrustDimensional Em Mkts ex China Cr Eq ETF13G37.80%115.1M shares0.00 ppfrom 37.80%May 7, 20262 filingsSep 3, 2026SEC
American Beacon Select FundsExchange Traded Fund13G27.00%334.0M sharesNewOct 6, 20261 filingOct 6, 2026SEC
BNY Mellon ETF TrustExchange Traded Fund13G25.00%458.3M sharesNewOct 6, 20261 filingOct 6, 2026SEC
American Century ETF TrustEmerging Markets Value ETF13G8.40%116.6M shares0.00 ppfrom 8.40%Mar 23, 20262 filingsSep 3, 2026SEC
Invesco Exchange-Traded Self-Indexed Fund TrustExchange Traded Funds13G7.80%21.5M shares0.00 ppfrom 7.80%May 7, 20262 filingsSep 3, 2026SEC
SPDR Index Shares FundsGlobal Natural Resources ETF13G6.90%335.5M shares0.00 ppfrom 6.90%Mar 23, 20263 filingsSep 3, 2026SEC
BlackRock ETF TrustiShares U.S. Equity Factor Rotation Active ETF13G5.30%1.76B shares0.00 ppfrom 5.30%Mar 23, 20262 filingsSep 3, 2026SEC

Latest filings

13 filings on file made by First Command Advisory Services, Inc. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by First Command Advisory Services, Inc.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
BNY Mellon ETF TrustExchange Traded FundOct 6, 20265:12 PM ET13G25.00%458.3M sharesNewSep 30, 2026SEC
American Beacon Select FundsExchange Traded FundOct 6, 20265:04 PM ET13G27.00%334.0M sharesNewSep 30, 2026SEC
American Century ETF TrustEmerging Markets Value ETFSep 3, 20266:15 PM ET13G8.40%116.6M shares0.00 ppfrom 8.40%Aug 31, 2026SEC
SPDR Index Shares FundsGlobal Natural Resources ETFSep 3, 20265:54 PM ET13G6.90%335.5M shares0.00 ppfrom 6.90%Aug 31, 2026SEC
Invesco Exchange-Traded Self-Indexed Fund TrustExchange Traded FundsSep 3, 20265:42 PM ET13G7.80%21.5M shares0.00 ppfrom 7.80%Aug 31, 2026SEC
Dimensional ETF TrustDimensional Em Mkts ex China Cr Eq ETFSep 3, 20264:03 PM ET13G37.80%115.1M shares0.00 ppfrom 37.80%Aug 31, 2026SEC
BlackRock ETF TrustiShares U.S. Equity Factor Rotation Active ETFSep 3, 20263:12 PM ET13G5.30%1.76B shares0.00 ppfrom 5.30%Aug 31, 2026SEC
Invesco Exchange-Traded Self-Indexed Fund TrustExchange Traded FundsMay 7, 202610:45 AM ET13G7.80%21.5M sharesNewMar 31, 2026SEC
Dimensional ETF TrustExchange Traded FundsMay 7, 202610:35 AM ET13G37.80%115.1M sharesNewMar 31, 2026SEC
SPDR Index Shares FundsETFMar 26, 20269:47 AM ET13G/A6.90%335.5M shares+1.60 ppfrom 5.30%Feb 25, 2026SEC
American Century ETF TrustETFMar 23, 20262:08 PM ET13G8.40%116.6M sharesNewFeb 25, 2026SEC
SPDR Index Shares FundsETFMar 23, 20261:57 PM ET13G5.30%1.76B sharesNewFeb 25, 2026SEC
BlackRock ETF TrustETFMar 23, 202612:28 PM ET13G5.30%1.76B sharesNewFeb 25, 2026SEC