FARMERS & MERCHANTS INVESTMENTS INC Q4 2025 Filing

Filed February 3, 2026

Portfolio Value

$3.6B

Holdings

1,721

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (1,721 positions)

#StockSharesValue% PortfolioType
101
AMGNAmgen Inc
25,487$8.3M0.23%
102
UBERUber Technologies Inc
100,861$8.2M0.23%
103
DHRDanaher Corp
35,523$8.1M0.22%
104
AGGiShares Barclays Aggregate Bond Fund
80,194$8.0M0.22%
105
BAHBooz Allen Hamilton Holding Corp
94,570$8.0M0.22%
106
ATRAptarGroup Inc
64,811$7.9M0.22%
107
KOCoca-Cola Co
112,544$7.9M0.22%
108
TRVCCitigroup Inc
66,677$7.8M0.21%
109
IBMInternational Business Machines Corp
26,045$7.7M0.21%
110
FDXFedEx Corp
26,153$7.6M0.21%
111
FQIDigital Realty Trust Inc.
47,855$7.4M0.20%
112
AEPAmerican Elec Pwr Inc
63,496$7.3M0.20%
113
JCIJohnson Controls International
58,574$7.0M0.19%
114
DUKDuke Energy Corporation
55,233$6.5M0.18%
115
VGKVanguard MSCI European ETF
74,719$6.2M0.17%
116
CMCSAComcast Corp Class A
204,658$6.1M0.17%
117
ALBAlbemarle Corp
43,138$6.1M0.17%
118
IWSiShares Russell Midcap Value Index Fund
43,199$6.1M0.17%
119
ORealty Income Corp
107,458$6.1M0.17%
120
FISVFiserv Inc
88,890$6.0M0.16%
121
AMEAMETEK Inc
28,853$5.9M0.16%
122
ROKRockwell Automation Inc.
14,989$5.8M0.16%
123
ECLEcolab Inc
21,488$5.6M0.16%
124
IWOiShares Russell 2000 Growth Index Fd
17,311$5.6M0.15%
125
TSLATesla Inc
12,244$5.5M0.15%
126
NFLXNetflix Inc.
57,650$5.4M0.15%
127
NVSNNovartis AG - ADR
37,858$5.2M0.14%
128
SLBSLB Ltd
134,609$5.2M0.14%
129
GPCGenuine Parts
40,680$5.0M0.14%
130
ATDATI Inc
42,111$4.8M0.13%
131
FTSFortis Inc
91,790$4.8M0.13%
132
PFEPfizer Inc
185,615$4.6M0.13%
133
PSXPhillips 66
35,799$4.6M0.13%
134
DYHTarget Corp
47,251$4.6M0.13%
135
VIGVanguard Dividend Appreciation Index ETF
20,220$4.4M0.12%
136
EFAiShares MSCI EAFE Index Fund
45,262$4.3M0.12%
137
IWRiShares Russell Midcap Index Fund
42,816$4.1M0.11%
138
DALDelta Air Lines Inc
55,751$3.9M0.11%
139
VNQVanguard Real Estate Index ETF
42,036$3.7M0.10%
140
BDXBecton Dickinson and Co
18,996$3.7M0.10%
141
VBVanguard Small-Cap Index ETF
14,196$3.7M0.10%
142
KMBKimberly Clark Corp
35,664$3.6M0.10%
143
OTISOtis Worldwide Corp
40,589$3.5M0.10%
144
VTIVanguard Total Stock Market ETF
10,441$3.5M0.10%
145
SPGIS&P Global Inc.
6,306$3.3M0.09%
146
HIIHuntington Ingalls Industries
9,570$3.3M0.09%
147
BMYBristol Myers Squibb Co
59,788$3.2M0.09%
148
BKHBlack Hills Corp
45,978$3.2M0.09%
149
WECWEC Energy Group Inc
29,518$3.1M0.09%
150
ZTSZoetis Inc
24,358$3.1M0.08%
151
NSCNorfolk Southern
10,480$3.0M0.08%
152
EVRGEvergy Inc
40,803$3.0M0.08%
153
LRCXLam Research Corp
16,520$2.8M0.08%
154
VOVanguard Mid-Cap Index ETF
9,645$2.8M0.08%
155
GISGeneral Mills, Inc.
59,390$2.8M0.08%
156
CLXClorox Co Common
25,293$2.5M0.07%
157
MMM3M Company
15,813$2.5M0.07%
158
ITOTiShares Core S&P Total US Stock Market ETF
17,027$2.5M0.07%
159
MAMastercard Inc - Class A
4,377$2.5M0.07%
160
LIILennox International Inc.
5,021$2.4M0.07%
161
TROWT. Rowe Price Group Inc
23,445$2.4M0.07%
162
AZOAutozone Inc
691$2.3M0.06%
163
BAThe Boeing Co
10,452$2.3M0.06%
164
UPSUnited Parcel Service - Cl B
22,841$2.3M0.06%
165
FTVFortive Corp
40,918$2.3M0.06%
166
CLColgate Palmolive Co
28,008$2.2M0.06%
167
IJKiShares S&P MidCap 400/Barra Growth Index Fund
22,759$2.2M0.06%
168
TMOThermo Fisher Scientific
3,775$2.2M0.06%
169
KHCKraft Heinz Co
89,835$2.2M0.06%
170
IWNiShares Russell 2000 Value Index Fund
11,858$2.1M0.06%
171
FRTFederal Realty Investment Trust REIT
21,108$2.1M0.06%
172
EEMiShares MSCI Emerging Mkts Index Fd
37,693$2.1M0.06%
173
PPGPPG Inds Inc
19,879$2.0M0.06%
174
VBRVanguard Small-Cap Value Index ETF
9,433$2.0M0.06%
175
GEGE Aerospace
5,773$1.8M0.05%
176
INGRIngredion Inc
15,437$1.7M0.05%
177
CSXCSX Corp
45,657$1.7M0.05%
178
QUALIShares Edge MSCI USA Quality Factor ETF
8,034$1.6M0.04%
179
GSLCGoldman Sachs ActiveBeta U.S. Large Cap Equity ETF
11,741$1.6M0.04%
180
IJJiShares S&P Midcap 400/Barra Value Index Fund
11,638$1.5M0.04%
181
IVEiShares S&P 500 Value Index Fund
7,193$1.5M0.04%
182
TAT&T Inc
59,362$1.5M0.04%
183
GQ9Spdr Gold Trust
3,711$1.5M0.04%
184
YUMYum! Brands Inc
9,389$1.4M0.04%
185
4I1Philip Morris International Inc
8,847$1.4M0.04%
186
AMCRAmcor PLC
160,123$1.3M0.04%
187
VUGVanguard Growth ETF
2,629$1.3M0.04%
188
GEVGE Vernova Inc
1,925$1.3M0.03%
189
WELLWelltower Inc
6,473$1.2M0.03%
190
ETNEaton Corp PLC
3,758$1.2M0.03%
191
CMICummins Inc.
2,305$1.2M0.03%
192
SOSouthern Co
13,490$1.2M0.03%
193
IAU*iShares Gold Trust ETF
14,336$1.2M0.03%
194
PRFInvesco RAFI US 1000 ETF
23,831$1.1M0.03%
195
IWFiShares Russell 1000 Growth Index Fund
2,359$1.1M0.03%
196
IWDiShares Russell 1000 Value Fund
5,293$1.1M0.03%
197
GILDGilead Sciences Inc
8,478$1.0M0.03%
198
GDGeneral Dynamics Corp
3,002$1.0M0.03%
199
VTVanguard Total World Stock Index Fund
7,124$1.0M0.03%
200
FLEXFlextronics International Ltd.
16,345$987K0.03%
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