First Command Advisory Services, Inc.

RIA/Wealth

First Command Advisory Services, Inc. is a RIA/Wealth based in Fort Worth, TX led by Mark Duane Steffe, reporting $22.1B in AUM as of Q3 2025 with 98% ETF concentration, 88% concentrated in top 10 holdings, 45% allocation to IVV, and minimal technology exposure.

CEOMark Duane Steffe

Portfolio Value: $13.7B
Positions: 613
Top Holding: IVV at 45.09%
Last Reported: Q3 2025

Address1 Firstcomm Plaza, Fort Worth, TX, 76109, United States

Top Holdings

Largest long holdings in First Command Advisory Services, Inc.'s portfolio (88.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$6.2B	45.09%	-$520.7M Sold	— 9.2M shares	Q2 2018 Held for 7y 5m
2 BlackRock U.S. Equity Factor Rotation DYNF	ETF ETF	$1.3B	9.73%	+$1.3B New	— 22.5M shares	Q3 2025 Held for 2 months
3 Invesco NASDAQ 100 ETF QQQM	ETF ETF	$1.2B	8.62%	-$10.1M Sold	— 4.8M shares	Q2 2023 Held for 2y 5m
4 iShares Core S&P Mid-Cap ETF IJH	ETF ETF	$1.0B	7.36%	+$1.7M Bought	— 15.4M shares	Q3 2018 Held for 7y 2m
5 iShares Core S&P Small-Cap ETF IJR	ETF ETF	$762.4M	5.57%	-$327.5M Sold	— 6.4M shares	Q2 2018 Held for 7y 5m
6 iShares Russell Mid-Cap Growth IWP	ETF ETF	$506.2M	3.70%	+$505.6M Bought	— 3.6M shares	Q3 2023 Held for 2y 2m
7 iShares MSCI Japan EWJ	ETF ETF	$399.4M	2.92%	-$85.2M Sold	— 5.0M shares	Q3 2023 Held for 2y 2m
8 SPDR S&P Global Natural Resources GNR	ETF ETF	$300.0M	2.19%	+$300.0M Bought	— 5.1M shares	Q3 2025 Held for 2 months
9 iShares Core MSCI EAFE ETF IEFA	ETF ETF	$225.3M	1.64%	+$425.7K Bought	— 2.6M shares	Q2 2018 Held for 7y 5m
10 SPDR Portfolio S&P 500 ETF SPLG	ETF ETF	$209.8M	1.53%	+$73.8M Bought	— 2.7M shares	Q4 2024 Held for 11 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in First Command Advisory Services, Inc.'s latest filing

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Market Value

$13.7B

Prior: $11.5B

Q/Q Change

+18.91%

+$2.2B

Net Flows % of MV

+7.46%

Turnover Ratio

11.93%

New Purchases

33 stocks

$1.3B

Added To

132 stocks

+$660.3M

Sold Out Of

55 stocks

$474.7K

Reduced Holdings

112 stocks

-$972.2M

Increased Positions

Position	Shares Δ	Change
1 BlackRock U.S. Equity Factor Rotation DYNF	New	0 → 22.5M +$1.3B
2 Aebi Schmidt Holding AG Common Stock AEBI	New	0 → 5.7K +$70.5K
3 Vanguard International Dividend Appreciation VIGI	New	0 → 764.0 +$68.4K
4 Fidelity Total Bond FBND	New	0 → 1.0K +$47.2K
5 iShares S&P 100 OEF	New	0 → 118.0 +$39.3K

Decreased Positions

Position	Shares Δ	Change
1 The Shyft Group SHYF	Sold	5.4K → 0 −$68.2K
2 Vanguard Small-Cap Value VBR	Sold	305.0 → 0 −$59.5K
3 iShares Russell 2500 SMMD	Sold	648.0 → 0 −$43.9K
4 Teradata TDC	Sold	1.9K → 0 −$41.9K
5 Dell Technologies DELL	Sold	240.0 → 0 −$29.4K