Fund HoldingsFARMERS & MERCHANTS INVESTMENTS INC

Total Portfolio Value
$3.62B
Total Bought
$180.93M
Total Sold
$143.70M
Net Transaction
+$37.23M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
Vanguard FTSE Developed Markets ETF3,364,1143,549,570+185,456201,578221,7426.13%+20,164
Eli Lilly & Co(LLY)044,287+44,287047,5941.32%+47,594
Alphabet Inc Class A(GOOG)177,793179,643+1,85043,22156,2281.55%+13,007
Meta Platforms Inc(META)018,577+18,577012,2620.34%+12,262
Alphabet Inc Class C(GOOG)142,269143,502+1,23334,65045,0311.24%+10,381
Advanced Micro Devices Inc(AMD)192,064191,121-94331,07440,9301.13%+9,856
Nelnet, Inc.(NNI)1,183,3421,184,351+1,009148,367157,4714.35%+9,104
iShares S&P 500 Index Fund379,752380,174+422254,168260,3967.20%+6,228
Wesco International Inc(WCC)178,219178,723+50437,69343,7231.21%+6,029
Amazon.com, Inc.(AMZN)0151,881+151,881035,0570.97%+35,057
iShares S&P Small Cap 600 Index ETF1,151,4231,182,618+31,195136,824142,1273.93%+5,303
Apple Inc(AAPL)436,385428,221-8,164111,117116,4163.22%+5,299
iShares S&P Midcap 4001,772,4531,832,117+59,664115,670120,9203.34%+5,249
Amphenol Corp Cl A355,321355,685+36443,97148,0671.33%+4,096
Johnson & Johnson(JNJ)157,108156,431-67729,13132,3730.89%+3,242
Goldman Sachs Group Inc.(GS)31,62631,920+29425,18528,0580.78%+2,872
Salesforce Inc(CRM)056,630+56,630015,0020.41%+15,002
Walmart, Inc(WMT)437,564430,084-7,48045,09547,9161.32%+2,820
Albemarle Corp(ALB)41,20043,138+1,9383,3406,1010.17%+2,761
Taiwan Semiconductor Manufacturing Company Ltd.(TSM)89,94391,680+1,73725,12027,8610.77%+2,740
Capital One Financial Corp(COF)084,711+84,711020,5310.57%+20,531
Cisco Systems Inc(CSCO)0302,120+302,120023,2720.64%+23,272
Vanguard S/T Corp Bond ETF
SHRT TRM CORP BD
0238,760+238,760019,0360.53%+19,036
Exxon Mobil Corp263,220265,450+2,23029,67831,9440.88%+2,266
Broadcom Inc(AVGO)217,750214,094-3,65671,83874,0982.05%+2,260
Federal Realty Investment Trust REIT(FRT)021,108+21,10802,1280.06%+2,128
Ross Stores Inc(ROST)79,50778,712-79512,11614,1790.39%+2,063
Dover Corp(DOV)084,078+84,078016,4150.45%+16,415
Nucor Corp(NUE)074,725+74,725012,1880.34%+12,188
Merck & Co., Inc(MRK)0116,482+116,482012,2610.34%+12,261
Caterpillar Inc(CAT)26,48125,136-1,34512,63514,4000.40%+1,764
RTX Corp(RTX)116,139115,429-71019,43421,1700.58%+1,736
Bank of America Corp386,102390,379+4,27719,91921,4710.59%+1,552
iShares GNMA Bond ETF
GNMA BOND ETF
266,935299,939+33,00411,83913,3590.37%+1,521
Vanguard Total Bond Market ETF764,886787,867+22,98156,88558,3571.61%+1,473
CVS Health Corporation(CVS)249,736254,994+5,25818,82820,2360.56%+1,409
US Bancorp(USB)0282,217+282,217015,0590.42%+15,059
ASML Holding
N Y REGISTRY SHS
011,920+11,920012,7530.35%+12,753
FedEx Corp(FDX)26,15326,15306,1677,5550.21%+1,387
Amcor PLC(AMCR)0160,123+160,12301,3350.04%+1,335
ATI Inc(ATI)042,111+42,11104,8330.13%+4,833
Amgen Inc(AMGN)025,487+25,48708,3420.23%+8,342
NVIDIA Corporation(NVDA)172,387178,466+6,07932,16433,2840.92%+1,120
Ecolab Inc(ECL)021,488+21,48805,6410.16%+5,641
Edwards Lifesciences Corp0125,707+125,707010,7170.30%+10,717
Danaher Corp(DHR)035,523+35,52308,1320.22%+8,132
iShares Barclays MBS Bond Fund ETF0125,469+125,469011,9470.33%+11,947
Wells Fargo(WFC)0156,911+156,911014,6240.40%+14,624
iShares Barclays Aggregate Bond Fund080,194+80,19408,0100.22%+8,010
State Street Technology Select Sector SPDR ETF
ST STR TECHN ETF
05,691+5,69108190.02%+819
iShares iBoxx H/Y Corp Bond Fund ETF0162,343+162,343013,0900.36%+13,090
Johnson Controls International
SHS
058,574+58,57407,0140.19%+7,014
ICON PLC(ICLR)80,03880,575+53714,00714,6820.41%+676
Lam Research Corp(LRCX)16,65016,520-1302,2292,8280.08%+598
Solstice Advanced Materials Inc(SOLS)012,080+12,08005870.02%+587
Vanguard Short-Term Inflation -Protected Securities ETF0321,170+321,170015,8850.44%+15,885
TJX Companies Inc(TJX)85,27183,899-1,37212,32512,8880.36%+563
Rockwell Automation Inc.(ROK)15,12214,989-1335,2865,8320.16%+546
SLB Ltd(SLB)0134,609+134,60905,1660.14%+5,166
Huntington Ingalls Industries(HII)9,5049,570+662,7363,2540.09%+518
S&P Global Inc.(SPGI)5,7236,306+5832,7853,2950.09%+510
Bristol Myers Squibb Co(BMY)059,788+59,78803,2250.09%+3,225
TotalEnergies SE(TTE)07,756+7,75605060.01%+506
Unilever PLC ADR(UL)07,567+7,56704950.01%+495
Vanguard Total Stock Market ETF9,30810,441+1,1333,0553,5010.10%+446
Visa Inc.(V)066,872+66,872023,4530.65%+23,453
Vanguard Dividend Appreciation Index ETF18,64820,220+1,5724,0244,4440.12%+420
Vanguard Real Estate Index ETF042,036+42,03603,7200.10%+3,720
Emerson Electric Co(EMR)0181,856+181,856024,1360.67%+24,136
State Street Energy Select Sector SPDR ETF
ST STR ENERG ETF
07,122+7,12203180.01%+318
NextEra Energy Inc.(NEE)0112,722+112,72209,0490.25%+9,049
Thermo Fisher Scientific(TMO)3,8713,775-961,8782,1870.06%+310
PepsiCo Inc(PEP)0164,843+164,843023,6580.65%+23,658
Novartis AG - ADR(NVS)38,42537,858-5674,9285,2190.14%+292
Vanguard MSCI European ETF74,71974,71905,9636,2470.17%+285
State Street Financial Select Sector SPDR ETF
ST STR FINL ETF
05,133+5,13302810.01%+281
iShares S&P 500 Growth Index Fund115,509115,390-11913,94414,2230.39%+279
Black Hills Corp47,36445,978-1,3862,9173,1920.09%+275
United Parcel Service - Cl B(UPS)022,841+22,84102,2660.06%+2,266
AMETEK Inc028,853+28,85305,9240.16%+5,924
Fortive Corp(FTV)040,918+40,91802,2590.06%+2,259
Berkshire Hathaway Inc Del Cl B New102,335102,852+51751,44851,6991.43%+251
Coca-Cola Co(KO)0112,544+112,54407,8680.22%+7,868
Fortis Inc(FTS)89,45891,790+2,3324,5394,7680.13%+228
Gildan Activewear Inc(GIL)03,608+3,60802250.01%+225
Omnicom Group Inc(OMC)08,472+8,47206840.02%+684
Cummins Inc.(CMI)2,3032,305+29731,1770.03%+204
American Elec Pwr Inc63,48663,496+107,1427,3220.20%+180
iShares Russell 2000 Index Fund73,03272,416-61617,67117,8260.49%+155
Vistra Corp(VST)01,240+1,24002000.01%+200
Expeditors International of Washington, Inc.(EXPD)05,991+5,99108930.02%+893
Biogen Inc(BIIB)03,941+3,94106940.02%+694
International Business Machines Corp(IBM)026,045+26,04507,7150.21%+7,715
State Street Consumer Discretionary Select Sector SPDR ETF
ST STR DISCR ETF
01,062+1,06201270.00%+127
State Street Industrial Select Sector SPDR ETF
ST STR INDL ETF
0803+80301250.00%+125
State Street Health Care Select Sector SPDR ETF
ST STR CARE ETF
0803+80301240.00%+124
SPDR S&P Regional Banking ETF
ST STR SP REGBNK
01,894+1,89401230.00%+123
iShares Gold Trust ETF(IAU)14,55214,336-2161,0591,1640.03%+105
State Street SPDR S&P Dividend ETF
ST STR SP DIV
0743+74301030.00%+103
iShares MSCI EAFE Index Fund45,45945,262-1974,2454,3470.12%+102
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