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FARMERS & MERCHANTS INVESTMENTS INC
Period ended Sep 30, 2026 · Latest filing Oct 22, 2026
These quarterly holdings are delayed and may not include all assets or short positions.
Values are from the reporting date, not current prices or purchase costs.
The same security may appear in multiple rows.
Source: SEC
Reported portfolio value
Quarter-end reported holdings; not current value or investment performance.
View reported values
- Sep 30, 2026: $4,159,243,191
More quarters will appear as history becomes available.
Top holdings
Top 10 at Sep 30, 2026. Matching entries are combined; security classes and options remain separate. Shares exclude principal amounts; option shares reflect the reported underlying amount.
View top holdings values
- iShares S&P 500 Index Fund · CORE S&P500 ETF · 464287200 · shares: $300,547,876
- Vanguard FTSE Developed Markets ETF · VAN FTSE DEV MKT · 921943858 · shares: $271,039,874
- iShares S&P Small Cap 600 Index ETF · CORE S&P SCP ETF · 464287804 · shares: $152,433,364
- Apple Inc · COM · 037833100 · shares: $149,032,111
- Microsoft Corp · COM · 594918104 · shares: $146,478,598
- Nelnet, Inc. · CL A · 64031N108 · shares: $144,308,592
- iShares S&P Midcap 400 · CORE S&P MCP ETF · 464287507 · shares: $142,074,557
- Advanced Micro Devices Inc · COM · 007903107 · shares: $116,812,513
- Vanguard FTSE Emerging Markets ETF · FTSE EMR MKT ETF · 922042858 · shares: $79,271,848
- Broadcom Inc · COM · 11135F101 · shares: $73,393,442
Reported holdings
1,767 reported entries| Issuer | Class | CUSIP | Type | Shares / principal | Reported value (USD) |
|---|---|---|---|---|---|
| EMCOR Group Inc | COM | 29084Q100 | — | 27 shares | $20,371 |
| State Street SPDR S&P Emerging Markets Dividend ETF | ST MAR DIVID ETF | 78463X533 | — | 503 shares | $20,200 |
| Crown Castle Inc | COM | 22822V101 | — | 300 shares | $19,995 |
| SPDR Portfolio S&P 500 High Dividend ETF | ST STR SP500DIV | 78468R788 | — | 440 shares | $19,963 |
| Incyte Pharmaceuticals, Inc. | COM | 45337C102 | — | 164 shares | $19,901 |
| Citizens Financial Group | COM | 174610105 | — | 310 shares | $19,766 |
| Axon Enterprise Inc | COM | 05464C101 | — | 46 shares | $19,436 |
| Xtrackers MSCI EAFE Hedged Equity ETF | XTRACK MSCI EAFE | 233051200 | — | 353 shares | $19,397 |
| PIMCO Total Return ETF | ACTIVE BD ETF | 72201R775 | — | 220 shares | $19,138 |
| Humana Inc | COM | 444859102 | — | 50 shares | $19,079 |
| JPMorgan Active Value ETF | ACTIVE VALUE ETF | 46641Q167 | — | 239 shares | $19,053 |
| CBOE Global Markets Inc | COM | 12503M108 | — | 69 shares | $18,995 |
| Teledyne Technologies Inc. | COM | 879360105 | — | 31 shares | $18,811 |
| Sunoco LP | COM UT REP LP | 86765K109 | — | 257 shares | $18,728 |
| Restaurant Brands International Inc | COM | 76131D103 | — | 261 shares | $18,552 |
| Raymond James Financial Inc | COM | 754730109 | — | 117 shares | $18,488 |
| NVR Inc | COM | 62944T105 | — | 3 shares | $18,463 |
| Dollar General Corp | COM | 256677105 | — | 152 shares | $18,176 |
| Tapestry Inc | COM | 876030107 | — | 158 shares | $18,176 |
| Sirius XM Holdings Inc | COMMON STOCK | 829933100 | — | 700 shares | $18,116 |
| Ulta Beauty Inc | COM | 90384S303 | — | 33 shares | $18,024 |
| Sony Group Corp ADR | SPONSORED ADR | 835699307 | — | 760 shares | $17,883 |
| Labcorp Holdings Inc | COM SHS | 504922105 | — | 58 shares | $17,870 |
| Schwab US Broad Market ETF | US BRD MKT ETF | 808524102 | — | 608 shares | $17,820 |
| Live Nation Entertainment, Inc. | COM | 538034109 | — | 104 shares | $17,607 |
| iShares ESG Aware MSCI USA Small-Cap ETF | ESG AWARE MSCI | 46435U663 | — | 337 shares | $17,524 |
| Carpenter Technology Corp | COM | 144285103 | — | 45 shares | $17,497 |
| Curtiss-Wright Corp | COM | 231561101 | — | 32 shares | $17,402 |
| PG&E Corp | COM | 69331C108 | — | 1,420 shares | $17,395 |
| iShares Barclays 3-7 Year Treasury Bond Fund | 3 7 YR TREAS BD | 464288661 | — | 153 shares | $17,356 |
| American Water Works Co Inc | COM | 030420103 | — | 134 shares | $17,349 |
| US Foods Holding Corp | COM | 912008109 | — | 188 shares | $17,335 |
| Reliance Inc | COM | 759509102 | — | 45 shares | $17,314 |
| Rigetti Computing Inc | COMMON STOCK | 76655K103 | — | 1,100 shares | $17,314 |
| Woodward, Inc. | COM | 980745103 | — | 52 shares | $17,087 |
| NRG Energy Inc | COM NEW | 629377508 | — | 178 shares | $17,026 |
| Sonida Senior Living Inc | COM | 140475203 | — | 452 shares | $16,986 |
| Williams-Sonoma, Inc. | COM | 969904101 | — | 74 shares | $16,868 |
| Synnex Corp | COM | 87162W100 | — | 65 shares | $16,695 |
| Verisk Analytics Inc | COM | 92345Y106 | — | 98 shares | $16,449 |
| Yum China Holdings Inc | COM | 98850P109 | — | 400 shares | $16,440 |
| State Street SPDR S&P International Small Cap ETF | ST INTL CAP ETF | 78463X871 | — | 360 shares | $16,405 |
| Centerpoint Energy Inc | COM | 15189T107 | — | 445 shares | $16,376 |
| Ares Capital Corp | COM | 04010L103 | — | 855 shares | $16,331 |
| Royal Gold, Inc. | COM | 780287108 | — | 69 shares | $16,284 |
| Nutanix Inc | CL A | 67059N108 | — | 230 shares | $16,194 |
| Vici Properties Inc | COM | 925652109 | — | 705 shares | $16,194 |
| iShares Dow Jones U.S. Real Estate Index Fund | U.S. REAL ES ETF | 464287739 | — | 170 shares | $16,157 |
| Atmos Energy Corp | COM | 049560105 | — | 102 shares | $15,957 |
| Eversource Energy | COM | 30040W108 | — | 247 shares | $15,848 |
| Southwest Airlines Co. | COM | 844741108 | — | 380 shares | $15,823 |
| Lattice Seminconductor Corp | COM | 518415104 | — | 125 shares | $15,703 |
| Ares Management Corp | CL A COM STK | 03990B101 | — | 135 shares | $15,683 |
| MKS Inc | COM | 55306N104 | — | 59 shares | $15,656 |
| Firstenergy Corp Common | COM | 337932107 | — | 360 shares | $15,599 |
| VeriSign, Inc. | COM | 92343E102 | — | 55 shares | $15,511 |
| Cincinnati Financial Corp | COM | 172062101 | — | 97 shares | $15,459 |
| Space Exploration Technologies Corp | CLASS A COM STK | 84615Q103 | — | 102 shares | $15,388 |
| MACOM Technology Solutions Holdings Inc | COM | 55405Y100 | — | 54 shares | $15,380 |
| Vanguard Industrials ETF | INDUSTRIAL ETF | 92204A603 | — | 47 shares | $15,064 |
| Hubbell Inc | COM | 443510607 | — | 33 shares | $14,969 |
| Coeur d' Alene Mines Corporation | COM NEW | 192108504 | — | 850 shares | $14,960 |
| GXO Logistics Inc | COMMON STOCK | 36262G101 | — | 336 shares | $14,935 |
| East West Bancorp Inc | COM | 27579R104 | — | 120 shares | $14,872 |
| Dollar Tree Inc | COM | 256746108 | — | 130 shares | $14,823 |
| State Street SPDR S&P Biotech ETF | ST STR SP BIOT | 78464A870 | — | 94 shares | $14,822 |
| Estee Lauder Companies Inc | CL A | 518439104 | — | 159 shares | $14,750 |
| CF Industries Holdings Inc | COM | 125269100 | — | 128 shares | $14,746 |
| PulteGroup Inc. | COM | 745867101 | — | 127 shares | $14,740 |
| Global Payments Inc | COM | 37940X102 | — | 180 shares | $14,701 |
| ARM Holdings PLC ADR | SPONSORED ADS | 042068205 | — | 50 shares | $14,483 |
| Dynatrace Inc | COM NEW | 268150109 | — | 250 shares | $14,435 |
| Burlington Stores Inc | COM | 122017106 | — | 54 shares | $14,428 |
| State Street Materials Select Sector SPDR ETF | ST STR MATER ETF | 81369Y100 | — | 293 shares | $14,269 |
| HF Sinclair Corp | COM | 403949100 | — | 132 shares | $14,166 |
| Occidental Petroleum Corp Warrant - Expires 08/03/27 | *W EXP 08/03/202 | 674599162 | — | 424 shares | $14,098 |
| Reinsurance Group of America, Inc | COM NEW | 759351604 | — | 57 shares | $14,036 |
| HEICO Corp Cl A | CL A | 422806208 | — | 61 shares | $13,928 |
| Roivant Sciences Ltd | SHS | G76279101 | — | 380 shares | $13,897 |
| Steris PLC | SHS USD | G8473T100 | — | 66 shares | $13,861 |
| Smurfit WestRock PLC | SHS | G8267P108 | — | 313 shares | $13,803 |
| Barrick Mining Corp | COM SHS | 06849F108 | — | 339 shares | $13,787 |
| Semtech Corp | COM | 816850101 | — | 77 shares | $13,733 |
| Medpace Holdings Inc | COM | 58506Q109 | — | 22 shares | $13,732 |
| Permian Resources Corp | CLASS A COM | 71424F105 | — | 650 shares | $13,728 |
| Gildan Activewear Inc | COM | 375916103 | — | 322 shares | $13,727 |
| Edison Intl Common | COM | 281020107 | — | 255 shares | $13,701 |
| State Street SPDR Dow Jones International Real Estate ETF | ST DOW INTL ETF | 78463X863 | — | 539 shares | $13,674 |
| State Street Utilities Select Sector SPDR ETF | ST STR UTIL ETF | 81369Y886 | — | 346 shares | $13,646 |
| Ovintiv Inc | COM | 69047Q102 | — | 235 shares | $13,588 |
| First Trust Mid Cap Growth AlphaDEX Fund ETF | MID CP GR ALPH | 33737M102 | — | 137 shares | $13,541 |
| Packaging Corp of America | COM | 695156109 | — | 59 shares | $13,526 |
| RBC Bearings Inc | COM | 75524B104 | — | 27 shares | $13,479 |
| Exelixis Inc | COM | 30161Q104 | — | 230 shares | $13,434 |
| Sterling Infrastructure Inc | COM | 859241101 | — | 27 shares | $13,278 |
| First Trust SMID Cap Rising Dividend Achievers ETF | SMID RISNG ETF | 33741X102 | — | 327 shares | $13,270 |
| Onto Innovation Inc | COM | 683344105 | — | 43 shares | $13,236 |
| Broadridge Financial Solutions, Inc | COM | 11133T103 | — | 82 shares | $13,210 |
| Fabrinet | SHS | G3323L100 | — | 31 shares | $13,152 |
| Clean Harbors Inc | COM | 184496107 | — | 42 shares | $13,030 |