FARMERS & MERCHANTS INVESTMENTS INC Q2 2025 Filing

Filed July 14, 2025

Portfolio Value

$3.4T

Holdings

1,729

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (1,729 positions)

#StockSharesValue% PortfolioType
101
GWWW W Grainger Inc
9,163$9.5B0.28%
102
ITWIllinois Tool Works Inc
37,390$9.2B0.27%
103
COPConocoPhillips
101,078$9.1B0.26%
104
IBMInternational Business Machines Corp
29,582$8.7B0.25%
105
FQIDigital Realty Trust Inc.
49,517$8.6B0.25%
106
KOCoca-Cola Co
116,112$8.2B0.24%
107
DUKDuke Energy Corporation
66,696$7.9B0.23%
108
DHRDanaher Corp
39,523$7.8B0.23%
109
TRVCCitigroup Inc
91,159$7.8B0.23%
110
SPYStandard and Poor's Depositary Receipts 500 ETF Trust
12,524$7.7B0.23%
111
NFLXNetflix Inc.
5,638$7.6B0.22%
112
ORealty Income Corp
129,523$7.5B0.22%
113
AMGNAmgen Inc
25,756$7.2B0.21%
114
AGGiShares Barclays Aggregate Bond Fund
72,091$7.2B0.21%
115
JCIJohnson Controls International
65,786$6.9B0.20%
116
AEPAmerican Elec Pwr Inc
63,486$6.6B0.19%
117
DALDelta Air Lines Inc
128,795$6.3B0.18%
118
FDXFedEx Corp
26,153$5.9B0.17%
119
AMEAMETEK Inc
32,808$5.9B0.17%
120
VGKVanguard MSCI European ETF
74,758$5.8B0.17%
121
IWSiShares Russell Midcap Value Index Fund
43,589$5.8B0.17%
122
KMBKimberly Clark Corp
42,386$5.5B0.16%
123
DYHTarget Corp
55,211$5.4B0.16%
124
ROKRockwell Automation Inc.
15,246$5.1B0.15%
125
IWOiShares Russell 2000 Growth Index Fd
17,481$5.0B0.15%
126
GPCGenuine Parts
40,902$5.0B0.14%
127
ZTSZoetis Inc
30,227$4.7B0.14%
128
NVSNNovartis AG - ADR
38,891$4.7B0.14%
129
PFEPfizer Inc
192,317$4.7B0.14%
130
SLBSchlumberger Ltd
134,657$4.6B0.13%
131
ECLEcolab Inc
16,602$4.5B0.13%
132
PSXPhillips 66
37,465$4.5B0.13%
133
OTISOtis Worldwide Corp
44,345$4.4B0.13%
134
FTSFortis Inc
87,847$4.2B0.12%
135
ATDATI Inc
47,809$4.1B0.12%
136
EFAiShares MSCI EAFE Index Fund
45,432$4.1B0.12%
137
IWRiShares Russell Midcap Index Fund
42,982$4.0B0.12%
138
TSLATesla Inc
12,395$3.9B0.11%
139
AZOAutozone Inc
1,051$3.9B0.11%
140
BDXBecton Dickinson and Co
22,630$3.9B0.11%
141
VIGVanguard Dividend Appreciation Index ETF
18,782$3.8B0.11%
142
VBVanguard Small-Cap Index ETF
14,753$3.5B0.10%
143
VNQVanguard Real Estate Index ETF
38,798$3.5B0.10%
144
GISGeneral Mills, Inc.
64,824$3.4B0.10%
145
WECWEC Energy Group Inc
30,018$3.1B0.09%
146
CLColgate Palmolive Co
33,177$3.0B0.09%
147
LIILennox International Inc.
5,021$2.9B0.08%
148
NSCNorfolk Southern
11,230$2.9B0.08%
149
VTIVanguard Total Stock Market ETF
9,332$2.8B0.08%
150
BMYBristol Myers Squibb Co
59,679$2.8B0.08%
151
EVRGEvergy Inc
40,071$2.8B0.08%
152
CLXClorox Co Common
22,489$2.7B0.08%
153
BKHBlack Hills Corp
47,498$2.7B0.08%
154
KHCKraft Heinz Co
103,112$2.7B0.08%
155
MAMastercard Inc - Class A
4,716$2.7B0.08%
156
UPSUnited Parcel Service - Cl B
26,059$2.6B0.08%
157
ALBAlbemarle Corp
41,844$2.6B0.08%
158
MMM3M Company
16,920$2.6B0.08%
159
VOVanguard Mid-Cap Index ETF
9,203$2.6B0.08%
160
PPGPPG Inds Inc
22,196$2.5B0.07%
161
SPGIS&P Global Inc.
4,643$2.4B0.07%
162
INGRIngredion Inc
17,833$2.4B0.07%
163
TROWT. Rowe Price Group Inc
24,182$2.3B0.07%
164
HIIHuntington Ingalls Industries
9,586$2.3B0.07%
165
ITOTiShares Core S&P Total US Stock Market ETF
16,981$2.3B0.07%
166
TAT&T Inc
77,864$2.3B0.07%
167
BAThe Boeing Co
10,457$2.2B0.06%
168
FTVFortive Corp
40,968$2.1B0.06%
169
IJKiShares S&P MidCap 400/Barra Growth Index Fund
22,791$2.1B0.06%
170
LRCXLam Research Corp
19,250$1.9B0.05%
171
IWNiShares Russell 2000 Value Index Fund
11,858$1.9B0.05%
172
VBRVanguard Small-Cap Value Index ETF
9,453$1.8B0.05%
173
EEMiShares MSCI Emerging Mkts Index Fd
37,969$1.8B0.05%
174
METAMeta Platforms Inc
2,391$1.8B0.05%
175
DOWDow Inc
65,238$1.7B0.05%
176
4I1Philip Morris International Inc
9,200$1.7B0.05%
177
GEGE Aerospace
6,273$1.6B0.05%
178
TMOThermo Fisher Scientific
3,870$1.6B0.05%
179
IVEiShares S&P 500 Value Index Fund
7,725$1.5B0.04%
180
CSXCSX Corp
45,477$1.5B0.04%
181
KVUEKenvue Inc
70,435$1.5B0.04%
182
QUALIShares Edge MSCI USA Quality Factor ETF
8,034$1.5B0.04%
183
INTCIntel Corp
64,519$1.4B0.04%
184
YUMYum! Brands Inc
9,739$1.4B0.04%
185
CARRCarrier Global Corp
19,667$1.4B0.04%
186
IJJiShares S&P Midcap 400/Barra Value Index Fund
11,637$1.4B0.04%
187
GSLCGoldman Sachs ActiveBeta U.S. Large Cap Equity ETF
11,741$1.4B0.04%
188
ETNEaton Corp PLC
3,817$1.4B0.04%
189
SOSouthern Co
13,486$1.2B0.04%
190
GQ9Spdr Gold Trust
3,952$1.2B0.04%
191
VUGVanguard Growth ETF
2,631$1.2B0.03%
192
TMUST-Mobile US, Inc.
4,820$1.1B0.03%
193
IWFiShares Russell 1000 Growth Index Fund
2,609$1.1B0.03%
194
WELLWelltower Inc
7,035$1.1B0.03%
195
IWDiShares Russell 1000 Value Fund
5,543$1.1B0.03%
196
GEVGE Vernova Inc
1,917$1.0B0.03%
197
PRFInvesco RAFI US 1000 ETF
23,831$1.0B0.03%
198
GDGeneral Dynamics Corp
3,372$983.5M0.03%
199
GILDGilead Sciences Inc
8,648$958.8M0.03%
200
SAFESafehold Inc REIT
60,646$943.7M0.03%
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