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
201
VOEVanguard Mid-Cap Value Index ETF
5,427$962K0.03%
202
SCHDSchwab US Dividend Equity ETF
35,022$960K0.03%
203
KVUEKenvue Inc
53,535$923K0.03%
204
VOTVanguard Mid-Cap Growth Index ETF
3,262$910K0.03%
205
TMUST-Mobile US, Inc.
4,469$907K0.03%
206
CARRCarrier Global Corp
17,139$905K0.03%
207
IJTS&P Smallcap 600/Barra Growth Index Fund
6,350$896K0.02%
208
EXPDExpeditors International of Washington, Inc.
5,991$892K0.02%
209
DDominion Energy Inc
14,520$850K0.02%
210
WMBThe Williams Companies, Inc.
14,154$850K0.02%
211
XLKState Street Technology Select Sector SPDR ETF
5,691$819K0.02%
212
TEXTerex Corporation
15,294$816K0.02%
213
MOAltria Group Inc
12,923$745K0.02%
214
ZBHZimmer Biomet Holdings Inc
8,005$719K0.02%
215
VGTVanguard Information Technology Index ETF
944$711K0.02%
216
MTBM&T Bank Corporation
3,480$701K0.02%
217
RALRalliant Corp
13,659$695K0.02%
218
SCHGSchwab U.S. Large-Cap Growth ETF
21,304$694K0.02%
219
BIIBBiogen Inc
3,941$693K0.02%
220
DOWDow Inc
29,345$686K0.02%
221
OMCOmnicom Group Inc
8,472$684K0.02%
222
SHELShell PLC
9,279$681K0.02%
223
VTVVanguard Value ETF
3,557$679K0.02%
224
DGXQuest Diagnostics Inc
3,839$666K0.02%
225
PAYXPaychex Inc
5,813$652K0.02%
226
AQLTiShares Core MSCI EAFE ETF
7,222$646K0.02%
227
VHTVanguard Health Care ETF
2,200$633K0.02%
228
BKNGBooking Holdings Inc
117$626K0.02%
229
DEDeere & Company
1,294$602K0.02%
230
INTCIntel Corp
16,137$595K0.02%
231
SAFESafehold Inc REIT
43,347$593K0.02%
232
BKBank of New York Mellon Corporation
5,116$593K0.02%
233
SOLSSolstice Advanced Materials Inc
12,080$586K0.02%
234
TFCTruist Financial Corp
11,860$583K0.02%
235
LMTLockheed Martin Corporation
1,185$573K0.02%
236
NTRSNorthern Trust Corporation
4,133$564K0.02%
237
NDQInvesco QQQ Trust
885$543K0.02%
238
TTETotalEnergies SE
7,756$506K0.01%
239
ULUnilever PLC ADR
7,567$494K0.01%
240
TSCOTractor Supply Co
9,685$484K0.01%
241
SUSuncor Energy, Inc
10,915$484K0.01%
242
UMBFUMB Finl
4,058$466K0.01%
243
MPLXMPLX LP
8,742$466K0.01%
244
AQLTiShares DJ Select Dividend Index ETF
3,294$464K0.01%
245
GRMNGarmin Ltd
2,285$463K0.01%
246
PLTRPalantir Technologies Inc.
2,557$454K0.01%
247
PIPRPiper Sandler Companies
1,310$445K0.01%
248
FITBFifth Third Bancorp
9,470$443K0.01%
249
TDToronto - Dominion Bank
4,531$426K0.01%
250
VLTOVeralto Corp
4,205$419K0.01%
251
VKTXViking Therapeutics Inc
11,875$417K0.01%
252
EFGiShares MSCI EAFE Growth Index ETF
3,615$411K0.01%
253
WERNWerner Enterprises, Inc.
13,588$407K0.01%
254
SAICScience Applications Intl Corp
4,040$406K0.01%
255
SYFSynchrony Financial
4,696$391K0.01%
256
BNBrookfield Corp
8,463$388K0.01%
257
MDYSPDR S&P MidCap 400 ETF Trust
637$384K0.01%
258
AMATApplied Materials Common
1,469$377K0.01%
259
KNXKnight-Swift Transportation Holdings Inc
7,143$373K0.01%
260
RFRegions Financial Corp
13,717$371K0.01%
261
ETEnergy Transfer L.P.
22,546$371K0.01%
262
BXBlackstone Inc
2,332$359K0.01%
263
STTState Street Corp
2,719$350K0.01%
264
SCHXSchwab U.S. Large-Cap ETF
12,945$348K0.01%
265
AXPAmerican Express Co
941$348K0.01%
266
MFCManulife Financial Corp
9,176$332K0.01%
267
RHCRH PLC
2,621$327K0.01%
268
CMECME Group, Inc
1,182$322K0.01%
269
TRVTravelers Companies, Inc
1,108$321K0.01%
270
XLEState Street Energy Select Sector SPDR ETF
7,122$318K0.01%
271
AMTAmerican Tower Corp
1,764$309K0.01%
272
GMGeneral Motors Co
3,699$300K0.01%
273
CGXUCapital Group International Focus Equity ETF
9,950$294K0.01%
274
FNDFSchwab Fundamental Intl Equity ETF
6,500$293K0.01%
275
PIIPolaris Inc
4,591$290K0.01%
276
TELTE Connectivity PLC
1,241$282K0.01%
277
XLFState Street Financial Select Sector SPDR ETF
5,133$281K0.01%
278
KMIKinder Morgan Inc.
10,105$277K0.01%
279
EPDEnterprise Products Partners L.P.
8,535$273K0.01%
280
ACNAccenture PLC
1,013$271K0.01%
281
MKLMarkel Group Inc
125$268K0.01%
282
VYMVanguard High Dividend Yield ETF
1,840$264K0.01%
283
XYLXylem Inc
1,939$264K0.01%
284
STXSeagate Technology Holdings PLC
955$262K0.01%
285
SFNCSimmons First National Corp
13,722$258K0.01%
286
XELXcel Energy
3,459$255K0.01%
287
JBHTHunt (JB) Transport Services Inc
1,304$253K0.01%
288
IMCBIShares Morningstar Mid Core Index Fund
3,012$249K0.01%
289
MRSHMarsh
1,337$248K0.01%
290
OKEOneok Inc
3,380$248K0.01%
291
CITCintas Corp
1,310$246K0.01%
292
PG4Principal Financial Group, Inc.
2,735$241K0.01%
293
IJSiShares S&P SmallCap 600 Value ETF
2,100$238K0.01%
294
MFDXPIMCO RAFI Dynamic Multi-Factor International Equity ETF
6,000$230K0.01%
295
GILGildan Activewear Inc
3,608$225K0.01%
296
MUMicron Technology
780$222K0.01%
297
CASYCasey's General Stores, Inc.
400$221K0.01%
298
PLDPrologis Inc
1,717$219K0.01%
299
LNTAlliant Energy Corporation
3,379$219K0.01%
300
CTVACorteva, Inc.
3,262$218K0.01%
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