FARMERS & MERCHANTS INVESTMENTS INC Q1 2023 Filing

Filed May 12, 2023

Portfolio Value

$2.5B

Holdings

1,744

Report Date

Q1 2023

Filing Type

13F-HR

All Holdings (1,744 positions)

#	Stock	Shares	Value	% Portfolio
1	IVViShares S&P 500 Index Fund	327,391	$134.0M	5.33%
2	NIJNelnet, Inc.	1,369,866	$125.0M	4.98%
3	VEAVanguard FTSE Developed Markets ETF	2,679,352	$121.0M	4.82%
4	IJRiShares S&P Small Cap 600 Index ETF	822,111	$79.0M	3.14%
5	AAPLApple Inc	472,526	$77.0M	3.07%
6	MSFTMicrosoft Corp	267,220	$77.0M	3.07%
7	IJHiShares S&P Midcap 400	256,344	$64.0M	2.55%
8	SLQDiShares 0-5 Yr Inv Grd Corp Bond ETF	1,144,788	$55.0M	2.19%
9	VWOVanguard FTSE Emerging Markets ETF	1,315,945	$53.0M	2.11%
10	BNDVanguard Total Bond Market ETF	446,340	$32.0M	1.27%
11	BRK/BBerkshire Hathaway Inc Del Cl B New	102,732	$31.0M	1.23%
12	LOWLowe's Companies, Inc	159,778	$31.0M	1.23%
13	UNHUnitedHealth Group Inc	64,473	$30.0M	1.19%
14	PEPPepsiCo Inc	164,058	$29.0M	1.15%
15	WCCWesco International Inc	189,580	$29.0M	1.15%
16	XOMExxon Mobil Corp	253,632	$27.0M	1.07%
17	JNJJohnson & Johnson	162,281	$25.0M	1.00%
18	WMTWalmart, Inc	161,560	$23.0M	0.92%
19	TXNTexas Instruments Inc	128,738	$23.0M	0.92%
20	JPMJPMorgan Chase & Co.	174,549	$22.0M	0.88%
21	CVSCVS Health Corporation	304,731	$22.0M	0.88%
22	PGProcter & Gamble Co	151,765	$22.0M	0.88%
23	APDAir Products & Chemicals Inc	74,095	$21.0M	0.84%
24	ORCLOracle Corp	234,263	$21.0M	0.84%
25	MCDMcDonald's Corp	74,365	$20.0M	0.80%
26	ABTAbbott Laboratories	190,368	$19.0M	0.76%
27	LLYLilly Eli & Co	55,530	$19.0M	0.76%
28	CVXChevron Corp	117,558	$19.0M	0.76%
29	AMDAdvanced Micro Devices Inc	189,670	$18.0M	0.72%
30	VTIPVanguard Short-Term Inflation -Protected Securities ETF	391,250	$18.0M	0.72%
31	VCSHVanguard S/T Corp Bond ETF	235,679	$17.0M	0.68%
32	UNPUnion Pacific Corp	89,368	$17.0M	0.68%
33	BSVVanguard Short-Term Bond ETF	231,182	$17.0M	0.68%
34	APHAmphenol Corp Cl A	211,504	$17.0M	0.68%
35	EMREmerson Electric Co	184,032	$16.0M	0.64%
36	GOOGLAlphabet Inc Class A	156,393	$16.0M	0.64%
37	VVisa Inc.	71,668	$16.0M	0.64%
38	CSCOCisco Systems Inc	323,177	$16.0M	0.64%
39	SYYSysco Corp	202,301	$15.0M	0.60%
40	GOOGAlphabet Inc Class C	148,573	$15.0M	0.60%
41	ICLRICON PLC	70,557	$15.0M	0.60%
42	ROPRoper Technologies Inc	34,220	$15.0M	0.60%
43	CMCSAComcast Corp Class A	401,638	$15.0M	0.60%
44	VOOVanguard S&P 500 ETF	37,257	$14.0M	0.56%
45	SBUXStarbucks Corp	139,949	$14.0M	0.56%
46	DOVDover Corp	95,576	$14.0M	0.56%
47	MRKMerck & Co., Inc	133,607	$14.0M	0.56%
48	DISWalt Disney Company	149,670	$14.0M	0.56%
49	OXYOccidental Petroleum Corp	229,636	$14.0M	0.56%
50	ABBVAbbvie Inc	90,408	$14.0M	0.56%
51	MDLZMondelez International Inc - A	200,551	$13.0M	0.52%
52	IWMiShares Russell 2000 Index Fund	73,300	$13.0M	0.52%
53	LINNew Linde PLC	37,867	$13.0M	0.52%
54	NUENucor Corp	85,621	$13.0M	0.52%
55	HONHoneywell Intl Inc	69,291	$13.0M	0.52%
56	WMWaste Management Inc	74,364	$12.0M	0.48%
57	BACBank of America Corp	422,839	$12.0M	0.48%
58	ENBEnbridge Inc	323,868	$12.0M	0.48%
59	SYKStryker Corp	44,858	$12.0M	0.48%
60	USBUS Bancorp	331,677	$11.0M	0.44%
61	MDTMedtronic PLC	145,122	$11.0M	0.44%
62	HDHome Depot Inc	38,160	$11.0M	0.44%
63	ADPAutomatic Data Processing	53,014	$11.0M	0.44%
64	A4SAmeriprise Financial Inc	32,703	$10.0M	0.40%
65	METMetlife Inc	181,311	$10.0M	0.40%
66	RTXRaytheon Technologies Corp	109,889	$10.0M	0.40%
67	BMYBristol Myers Squibb Co	157,204	$10.0M	0.40%
68	BKHBlack Hills Corp	172,899	$10.0M	0.40%
69	NKENike Inc Cl B	86,804	$10.0M	0.40%
70	FISVFiserv Inc	92,592	$10.0M	0.40%
71	GSGoldman Sachs Group Inc.	31,533	$10.0M	0.40%
72	AFLAflac Inc common	166,568	$10.0M	0.40%
73	AMZNAmazon.com, Inc.	102,766	$10.0M	0.40%
74	COPConocoPhillips	100,147	$9.0M	0.36%
75	ROSTRoss Stores Inc	92,702	$9.0M	0.36%
76	QCOMQualcomm Inc	75,214	$9.0M	0.36%
77	DHRDanaher Corp	39,254	$9.0M	0.36%
78	AGGiShares Barclays Aggregate Bond Fund	94,229	$9.0M	0.36%
79	DUKDuke Energy Corporation	96,175	$9.0M	0.36%
80	HYGiShares iBoxx H/Y Corp Bond Fund ETF	132,254	$9.0M	0.36%
81	BACVerizon Communications	242,215	$9.0M	0.36%
82	PFEPfizer Inc	235,860	$9.0M	0.36%
83	DDominion Energy Inc	172,522	$9.0M	0.36%
84	ITWIllinois Tool Works Inc	39,230	$9.0M	0.36%
85	IWPiShares Russell Mid-Cap Growth ETF	96,657	$8.0M	0.32%
86	DYHTarget Corp	52,254	$8.0M	0.32%
87	COFCapital One Financial Common	91,150	$8.0M	0.32%
88	WFCWells Fargo	229,377	$8.0M	0.32%
89	KOCoca-Cola Co	134,869	$8.0M	0.32%
90	GISGeneral Mills, Inc.	84,275	$7.0M	0.28%
91	COSTCostco Wholesale Corp	15,476	$7.0M	0.28%
92	TJXTJX Companies Inc	90,179	$7.0M	0.28%
93	GPCGenuine Parts	46,571	$7.0M	0.28%
94	BDXBecton Dickinson and Co	28,488	$7.0M	0.28%
95	AEPAmerican Elec Pwr Inc	80,746	$7.0M	0.28%
96	IVWiShares S&P 500 Growth Index Fund	112,641	$7.0M	0.28%
97	PYPLPaypal Holdings Inc	104,558	$7.0M	0.28%
98	ATRAptarGroup Inc	55,145	$6.0M	0.24%
99	UPSUnited Parcel Service - Cl B	35,055	$6.0M	0.24%
100	EWEdwards Lifesciences Corp	78,526	$6.0M	0.24%

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