FARMERS & MERCHANTS INVESTMENTS INC
Comparing Q4 2025 vs Q3 2025
Sorting applies to all holdings for this quarter on the server, then the page is sliced. Prior-quarter values come from the full prior-quarter filing.
Issuer ▲▼ | Shares | Value ($K) | ||||
|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | |
| Vanguard FTSE Developed Markets ETF | 0 | 3,549,570 | +3,549,570 | 0 | 221,741,638 | +221,741,638 |
| Eli Lilly & Co | 44,637 | 44,287 | -350 | 34,058,031 | 47,594,353 | +13,536,322 |
| Alphabet Inc Class A | 177,793 | 179,643 | +1,850 | 43,221,478 | 56,228,259 | +13,006,781 |
| Meta Platforms Inc | 2,383 | 18,577 | +16,194 | 1,750,028 | 12,262,492 | +10,512,464 |
| Alphabet Inc Class C | 142,269 | 143,502 | +1,233 | 34,649,615 | 45,030,928 | +10,381,313 |
| Advanced Micro Devices Inc | 192,064 | 191,121 | -943 | 31,074,035 | 40,930,473 | +9,856,438 |
| Nelnet, Inc. | 0 | 1,184,351 | +1,184,351 | 0 | 157,471,309 | +157,471,309 |
| iShares S&P 500 Index Fund | 379,752 | 380,174 | +422 | 254,168,014 | 260,396,380 | +6,228,366 |
| Wesco International Inc | 0 | 178,723 | +178,723 | 0 | 43,722,795 | +43,722,795 |
| Amazon.com, Inc. | 134,693 | 151,881 | +17,188 | 29,574,542 | 35,057,172 | +5,482,630 |
| iShares S&P Small Cap 600 Index ETF | 1,151,423 | 1,182,618 | +31,195 | 136,823,595 | 142,127,031 | +5,303,436 |
| Apple Inc | 436,385 | 428,221 | -8,164 | 111,116,713 | 116,416,161 | +5,299,448 |
| iShares S&P Midcap 400 | 1,772,453 | 1,832,117 | +59,664 | 115,670,283 | 120,919,722 | +5,249,439 |
| Amphenol Corp Cl A | 355,321 | 355,685 | +364 | 43,970,974 | 48,067,271 | +4,096,297 |
| Johnson & Johnson | 157,108 | 156,431 | -677 | 29,130,965 | 32,373,395 | +3,242,430 |
| Goldman Sachs Group Inc. | 31,626 | 31,920 | +294 | 25,185,365 | 28,057,680 | +2,872,315 |
| Salesforce Inc | 0 | 56,630 | +56,630 | 0 | 15,001,853 | +15,001,853 |
| Walmart, Inc | 0 | 430,084 | +430,084 | 0 | 47,915,658 | +47,915,658 |
| Albemarle Corp | 41,200 | 43,138 | +1,938 | 3,340,496 | 6,101,439 | +2,760,943 |
| Taiwan Semiconductor Manufacturing Company Ltd. | 0 | 91,680 | +91,680 | 0 | 27,860,635 | +27,860,635 |
| Capital One Financial Corp | 83,693 | 84,711 | +1,018 | 17,791,458 | 20,530,558 | +2,739,100 |
| Cisco Systems Inc | 302,794 | 302,120 | -674 | 20,717,165 | 23,272,304 | +2,555,139 |
| Vanguard S/T Corp Bond ETF | 0 | 238,760 | +238,760 | 0 | 19,036,335 | +19,036,335 |
| Exxon Mobil Corp | 263,220 | 265,450 | +2,230 | 29,678,055 | 31,944,253 | +2,266,198 |
| Broadcom Inc | 217,750 | 214,094 | -3,656 | 71,837,903 | 74,097,933 | +2,260,030 |
| Federal Realty Investment Trust REIT | 49 | 21,108 | +21,059 | 4,964 | 2,127,686 | +2,122,722 |
| Ross Stores Inc | 0 | 78,712 | +78,712 | 0 | 14,179,180 | +14,179,180 |
| Dover Corp | 86,330 | 84,078 | -2,252 | 14,402,434 | 16,415,389 | +2,012,955 |
| Nucor Corp | 0 | 74,725 | +74,725 | 0 | 12,188,395 | +12,188,395 |
| Merck & Co., Inc | 123,142 | 116,482 | -6,660 | 10,335,308 | 12,260,895 | +1,925,587 |
| Caterpillar Inc | 26,481 | 25,136 | -1,345 | 12,635,409 | 14,399,660 | +1,764,251 |
| RTX Corp | 0 | 115,429 | +115,429 | 0 | 21,169,679 | +21,169,679 |
| Bank of America Corp | 386,102 | 390,379 | +4,277 | 19,919,002 | 21,470,845 | +1,551,843 |
| iShares GNMA Bond ETF | 266,935 | 299,939 | +33,004 | 11,838,567 | 13,359,283 | +1,520,716 |
| Vanguard Total Bond Market ETF | 0 | 787,867 | +787,867 | 0 | 58,357,309 | +58,357,309 |
| CVS Health Corporation | 249,736 | 254,994 | +5,258 | 18,827,597 | 20,236,324 | +1,408,727 |
| US Bancorp | 0 | 282,217 | +282,217 | 0 | 15,059,099 | +15,059,099 |
| ASML Holding | 11,731 | 11,920 | +189 | 11,356,664 | 12,752,731 | +1,396,067 |
| FedEx Corp | 26,153 | 26,153 | 0 | 6,167,139 | 7,554,556 | +1,387,417 |
| Amcor PLC | 7,225 | 160,123 | +152,898 | 59,101 | 1,335,426 | +1,276,325 |
| ATI Inc | 44,307 | 42,111 | -2,196 | 3,603,931 | 4,832,658 | +1,228,727 |
| Amgen Inc | 25,582 | 25,487 | -95 | 7,219,240 | 8,342,150 | +1,122,910 |
| NVIDIA Corporation | 0 | 178,466 | +178,466 | 0 | 33,283,909 | +33,283,909 |
| Ecolab Inc | 16,602 | 21,488 | +4,886 | 4,546,624 | 5,641,030 | +1,094,406 |
| Edwards Lifesciences Corp | 123,745 | 125,707 | +1,962 | 9,623,649 | 10,716,522 | +1,092,873 |
| Danaher Corp | 35,573 | 35,523 | -50 | 7,052,703 | 8,131,925 | +1,079,222 |
| iShares Barclays MBS Bond Fund ETF | 114,275 | 125,469 | +11,194 | 10,873,266 | 11,947,158 | +1,073,892 |
| Wells Fargo | 0 | 156,911 | +156,911 | 0 | 14,624,105 | +14,624,105 |
| iShares Barclays Aggregate Bond Fund | 71,106 | 80,194 | +9,088 | 7,128,377 | 8,009,777 | +881,400 |
| State Street Technology Select Sector SPDR ETF | 0 | 5,691 | +5,691 | 0 | 819,333 | +819,333 |
| iShares iBoxx H/Y Corp Bond Fund ETF | 151,758 | 162,343 | +10,585 | 12,321,232 | 13,089,716 | +768,484 |
| Johnson Controls International | 57,041 | 58,574 | +1,533 | 6,271,658 | 7,014,237 | +742,579 |
| ICON PLC | 80,038 | 80,575 | +537 | 14,006,650 | 14,682,377 | +675,727 |
| Lam Research Corp | 16,650 | 16,520 | -130 | 2,229,435 | 2,827,894 | +598,459 |
| Solstice Advanced Materials Inc | 0 | 12,080 | +12,080 | 0 | 586,846 | +586,846 |
| Vanguard Short-Term Inflation -Protected Securities ETF | 0 | 321,170 | +321,170 | 0 | 15,885,068 | +15,885,068 |
| TJX Companies Inc | 0 | 83,899 | +83,899 | 0 | 12,887,725 | +12,887,725 |
| Rockwell Automation Inc. | 0 | 14,989 | +14,989 | 0 | 5,831,770 | +5,831,770 |
| SLB Ltd | 0 | 134,609 | +134,609 | 0 | 5,166,293 | +5,166,293 |
| Huntington Ingalls Industries | 9,504 | 9,570 | +66 | 2,736,297 | 3,254,470 | +518,173 |
| S&P Global Inc. | 0 | 6,306 | +6,306 | 0 | 3,295,453 | +3,295,453 |
| Bristol Myers Squibb Co | 60,218 | 59,788 | -430 | 2,715,832 | 3,224,965 | +509,133 |
| TotalEnergies SE | 0 | 7,756 | +7,756 | 0 | 506,358 | +506,358 |
| Unilever PLC ADR | 0 | 7,567 | +7,567 | 0 | 494,882 | +494,882 |
| Vanguard Total Stock Market ETF | 0 | 10,441 | +10,441 | 0 | 3,500,554 | +3,500,554 |
| Visa Inc. | 0 | 66,872 | +66,872 | 0 | 23,452,679 | +23,452,679 |
| Vanguard Dividend Appreciation Index ETF | 0 | 20,220 | +20,220 | 0 | 4,443,952 | +4,443,952 |
| Vanguard Real Estate Index ETF | 0 | 42,036 | +42,036 | 0 | 3,719,766 | +3,719,766 |
| Emerson Electric Co | 181,507 | 181,856 | +349 | 23,810,088 | 24,135,928 | +325,840 |
| State Street Energy Select Sector SPDR ETF | 0 | 7,122 | +7,122 | 0 | 318,425 | +318,425 |
| NextEra Energy Inc. | 0 | 112,722 | +112,722 | 0 | 9,049,322 | +9,049,322 |
| Thermo Fisher Scientific | 0 | 3,775 | +3,775 | 0 | 2,187,424 | +2,187,424 |
| PepsiCo Inc | 0 | 164,843 | +164,843 | 0 | 23,658,267 | +23,658,267 |
| Novartis AG - ADR | 0 | 37,858 | +37,858 | 0 | 5,219,482 | +5,219,482 |
| Vanguard MSCI European ETF | 0 | 74,719 | +74,719 | 0 | 6,247,256 | +6,247,256 |
| State Street Financial Select Sector SPDR ETF | 0 | 5,133 | +5,133 | 0 | 281,134 | +281,134 |
| iShares S&P 500 Growth Index Fund | 115,509 | 115,390 | -119 | 13,944,246 | 14,222,971 | +278,725 |
| Black Hills Corp | 47,364 | 45,978 | -1,386 | 2,917,149 | 3,191,793 | +274,644 |
| United Parcel Service - Cl B | 0 | 22,841 | +22,841 | 0 | 2,265,599 | +2,265,599 |
| AMETEK Inc | 30,124 | 28,853 | -1,271 | 5,663,312 | 5,923,809 | +260,497 |
| Fortive Corp | 40,968 | 40,918 | -50 | 2,007,022 | 2,259,083 | +252,061 |
| Berkshire Hathaway Inc Del Cl B New | 102,335 | 102,852 | +517 | 51,447,898 | 51,698,558 | +250,660 |
| Coca-Cola Co | 114,937 | 112,544 | -2,393 | 7,622,622 | 7,867,951 | +245,329 |
| Fortis Inc | 89,458 | 91,790 | +2,332 | 4,539,099 | 4,767,573 | +228,474 |
| Gildan Activewear Inc | 0 | 3,608 | +3,608 | 0 | 225,356 | +225,356 |
| Omnicom Group Inc | 0 | 8,472 | +8,472 | 0 | 684,114 | +684,114 |
| Cummins Inc. | 2,303 | 2,305 | +2 | 972,718 | 1,176,587 | +203,869 |
| American Elec Pwr Inc | 63,486 | 63,496 | +10 | 7,142,175 | 7,321,724 | +179,549 |
| iShares Russell 2000 Index Fund | 73,032 | 72,416 | -616 | 17,670,823 | 17,825,923 | +155,100 |
| Vistra Corp | 0 | 1,240 | +1,240 | 0 | 200,049 | +200,049 |
| Expeditors International of Washington, Inc. | 6,056 | 5,991 | -65 | 742,405 | 892,719 | +150,314 |
| Biogen Inc | 3,942 | 3,941 | -1 | 552,195 | 693,577 | +141,382 |
| International Business Machines Corp | 26,882 | 26,045 | -837 | 7,585,025 | 7,714,789 | +129,764 |
| State Street Consumer Discretionary Select Sector SPDR ETF | 0 | 1,062 | +1,062 | 0 | 126,813 | +126,813 |
| State Street Industrial Select Sector SPDR ETF | 0 | 803 | +803 | 0 | 124,561 | +124,561 |
| State Street Health Care Select Sector SPDR ETF | 0 | 803 | +803 | 0 | 124,304 | +124,304 |
| SPDR S&P Regional Banking ETF | 0 | 1,894 | +1,894 | 0 | 122,750 | +122,750 |
| iShares Gold Trust ETF | 14,552 | 14,336 | -216 | 1,058,949 | 1,163,653 | +104,704 |
| State Street SPDR S&P Dividend ETF | 0 | 743 | +743 | 0 | 103,396 | +103,396 |
| iShares MSCI EAFE Index Fund | 45,459 | 45,262 | -197 | 4,244,507 | 4,346,510 | +102,003 |