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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) |
|---|---|---|---|---|---|
| Baidu, Inc. | SPON ADR REP A | 056752108 | — | 50 shares | $4,344 |
| Cava Group Inc | COM | 148929102 | — | 80 shares | $4,328 |
| Warrior Met Coal Inc | COM | 93627C101 | — | 49 shares | $4,315 |
| Iridium Communications Inc | COM | 46269C102 | — | 90 shares | $4,311 |
| Rush Enterprises Inc | CL A | 781846209 | — | 94 shares | $4,306 |
| VSE Corp | COM | 918284100 | — | 26 shares | $4,282 |
| Covista Inc | COM | 00737L103 | — | 35 shares | $4,277 |
| Novanta Inc | COM | 67000B104 | — | 30 shares | $4,266 |
| HA Sustainable Infrastructure Capital Inc REIT | COM | 41068X100 | — | 119 shares | $4,263 |
| Casella Waste Systems Inc | CL A | 147448104 | — | 53 shares | $4,259 |
| Diodes Inc | COM | 254543101 | — | 44 shares | $4,259 |
| Sonoco Products Co. Ordinary Shares | COM | 835495102 | — | 87 shares | $4,247 |
| PriceSmart Inc | COM | 741511109 | — | 25 shares | $4,228 |
| RLI Corp | COM | 749607107 | — | 76 shares | $4,204 |
| Nexstar Media Group Inc | COMMON STOCK | 65336K103 | — | 26 shares | $4,201 |
| Urban Outfitters, Inc | COM | 917047102 | — | 55 shares | $4,201 |
| Oceaneering International Inc. | COM | 675232102 | — | 96 shares | $4,188 |
| SLM Corp | COM | 78442P106 | — | 185 shares | $4,187 |
| Rayonier Inc. | COM | 754907103 | — | 228 shares | $4,186 |
| Morningstar Inc | COM | 617700109 | — | 22 shares | $4,181 |
| AXT, Inc. | COM | 00246W103 | — | 54 shares | $4,180 |
| Integer Holdings Corp | COM | 45826H109 | — | 33 shares | $4,170 |
| Floor & Decor Holdings Inc | CL A | 339750101 | — | 91 shares | $4,169 |
| Moelis & Co | CL A | 60786M105 | — | 72 shares | $4,141 |
| Virtu Financial Inc | CL A | 928254101 | — | 75 shares | $4,137 |
| Gentex Corp. Ordinary Shares | COM | 371901109 | — | 190 shares | $4,131 |
| Solaris Energy Infrastructure Inc | COM CL A | 83418M103 | — | 58 shares | $4,128 |
| Haleon PLC ADR | SPON ADS | 405552100 | — | 458 shares | $4,122 |
| Core Natural Resources Inc | COM SHS | 218937100 | — | 48 shares | $4,120 |
| Warner Bros Discovery Inc | COM SER A | 934423104 | — | 133 shares | $4,116 |
| Cactus Inc-A | CL A | 127203107 | — | 66 shares | $4,107 |
| BGC Group Inc | CL A | 088929104 | — | 355 shares | $4,093 |
| Signet Jewelers Ltd | SHS | G81276100 | — | 40 shares | $4,093 |
| Valaris Ltd | CL A | G9460G101 | — | 52 shares | $4,083 |
| KBR, Inc. | COM | 48242W106 | — | 116 shares | $4,079 |
| International Seaways Inc | COM | Y41053102 | — | 37 shares | $4,075 |
| Fortune Brands Innovations Inc | COM | 34964C106 | — | 107 shares | $4,071 |
| Axcelis Technologies Inc | COM NEW | 054540208 | — | 31 shares | $4,067 |
| Construction Partners Inc | COM CL A | 21044C107 | — | 45 shares | $4,051 |
| ACM Research Inc | COM CL A | 00108J109 | — | 50 shares | $4,046 |
| Sabra Health Care REIT, Inc. | COM | 78573L106 | — | 205 shares | $4,043 |
| Middleby Corp | COM | 596278101 | — | 39 shares | $4,040 |
| Installed Building Products Inc | COM | 45780R101 | — | 21 shares | $4,029 |
| Clear Secure Inc | COM CL A | 18467V109 | — | 96 shares | $4,027 |
| Capitol Federal Financial Inc | COM | 14057J101 | — | 488 shares | $4,026 |
| Selective Insurance Group Inc | COM | 816300107 | — | 48 shares | $4,013 |
| Associated Banc-Corp. Ordinary Shares | COM | 045487105 | — | 140 shares | $4,011 |
| Enova International Inc | COM | 29357K103 | — | 24 shares | $4,011 |
| Appfolio Inc | COM CL A | 03783C100 | — | 20 shares | $4,010 |
| MARA Holdings Inc | COM | 565788106 | — | 353 shares | $3,999 |
| Bentley Systems Inc | COM CL B | 08265T208 | — | 125 shares | $3,994 |
| Vontier Co | COM | 928881101 | — | 127 shares | $3,988 |
| Radian Group, Inc. Ordinary Shares | COM | 750236101 | — | 130 shares | $3,979 |
| Dimensional International Core Equity Market ETF | INTL CORE EQT MK | 25434V203 | — | 96 shares | $3,977 |
| Eastern Bankshares Inc | COM | 27627N105 | — | 190 shares | $3,977 |
| Tidewater Inc | COM | 88642R109 | — | 49 shares | $3,974 |
| Brainsway Ltd ADR | SPONSORED ADS | 10501L106 | — | 300 shares | $3,960 |
| CNX Resources Corp | COM | 12653C108 | — | 127 shares | $3,959 |
| Erie Indemnity Co | CL A | 29530P102 | — | 18 shares | $3,945 |
| UL Solutions Inc | CLASS A COM SHS | 903731107 | — | 60 shares | $3,937 |
| United Community Banks, Inc | COM | 90984P303 | — | 118 shares | $3,935 |
| The Chefs' Warehouse, Inc | COM | 163086101 | — | 35 shares | $3,926 |
| Cavco Industries Inc | COM | 149568107 | — | 7 shares | $3,922 |
| Olin Corp | COM PAR $1 | 680665205 | — | 253 shares | $3,922 |
| Par Pacific Holdings Inc | COM NEW | 69888T207 | — | 48 shares | $3,918 |
| ServisFirst Bancshares Inc | COM | 81768T108 | — | 98 shares | $3,918 |
| Cousins Properties Inc | COM NEW | 222795502 | — | 141 shares | $3,897 |
| SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | ST STR NUVEE ETF | 78468R721 | — | 91 shares | $3,892 |
| Trex Company Inc | COM | 89531P105 | — | 89 shares | $3,877 |
| Tanger Inc | COM | 875465106 | — | 113 shares | $3,876 |
| Primoris Service Corp | COM | 74164F103 | — | 52 shares | $3,875 |
| Korn/Ferry International | COM NEW | 500643200 | — | 54 shares | $3,866 |
| California Resources Corp | COM STOCK | 13057Q305 | — | 76 shares | $3,861 |
| UFP Industries Inc | COM | 90278Q108 | — | 50 shares | $3,861 |
| Enphase Energy Inc | COM | 29355A107 | — | 117 shares | $3,860 |
| Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | OPTIMUM YIELD | 46090F100 | — | 200 shares | $3,860 |
| AAR Corp | COM | 000361105 | — | 38 shares | $3,856 |
| Aerovironment Inc | COM | 008073108 | — | 27 shares | $3,840 |
| Meritage Homes Corp | COM | 59001A102 | — | 61 shares | $3,834 |
| Alaska Air Group, Inc. | COM | 011659109 | — | 99 shares | $3,831 |
| Allegro MicroSystems Inc | COM | 01749D105 | — | 105 shares | $3,817 |
| Fulton Financial Corp | COM | 360271100 | — | 169 shares | $3,813 |
| GEO Group Inc | COM | 36162J106 | — | 125 shares | $3,809 |
| Cinemark Holdings, Inc. | COM | 17243V102 | — | 102 shares | $3,805 |
| Spire Inc. | COM | 84857L101 | — | 50 shares | $3,805 |
| Grand Canyon Education Inc | COM | 38526M106 | — | 25 shares | $3,790 |
| Hormel Foods Common | COM | 440452100 | — | 190 shares | $3,789 |
| Patterson-UTI Energy, Inc. | COM | 703481101 | — | 345 shares | $3,767 |
| AZZ Incorporated | COM | 002474104 | — | 28 shares | $3,763 |
| NorthWestern Energy Group Inc | COM NEW | 668074305 | — | 55 shares | $3,761 |
| DXC Technology Co | COM | 23355L106 | — | 347 shares | $3,758 |
| LivaNova PLC | SHS | G5509L101 | — | 49 shares | $3,749 |
| Vishay Intertechnology, Inc. Ordinary Shares | COM | 928298108 | — | 115 shares | $3,743 |
| Norwegian Cruise Line Holdings Ltd | SHS | G66721104 | — | 255 shares | $3,738 |
| One Gas Inc | COM | 68235P108 | — | 52 shares | $3,737 |
| Texas Capital Bancshares Inc | COM | 88224Q107 | — | 40 shares | $3,721 |
| Celsius Holdings Inc | COM NEW | 15118V207 | — | 136 shares | $3,720 |
| Alliance Data Systems Corp | COM | 018581108 | — | 38 shares | $3,715 |
| First BanCorp | COM NEW | 318672706 | — | 141 shares | $3,714 |
| Itron Inc | COM | 465741106 | — | 43 shares | $3,713 |