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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) |
|---|---|---|---|---|---|
| Marsh | COM | 571748102 | — | 1,333 shares | $227,583 |
| Prologis Inc | COM | 74340W103 | — | 1,750 shares | $227,220 |
| Avantis Emerging Markets Equity ETF | AVANTIS EMGMKT | 025072604 | — | 2,400 shares | $225,648 |
| CRH PLC | ORD | G25508105 | — | 2,686 shares | $222,401 |
| Morgan Stanley | COM NEW | 617446448 | — | 1,170 shares | $220,054 |
| Extra Space Storage Inc | COM | 30225T102 | — | 1,647 shares | $216,597 |
| Blackstone Inc | COM | 09260D107 | — | 1,932 shares | $216,558 |
| Crowdstrike Holdings Inc | CL A | 22788C105 | — | 816 shares | $216,036 |
| Markel Group Inc | COM | 570535104 | — | 125 shares | $214,056 |
| Hewlett Packard Enterprise Co | COM | 42824C109 | — | 3,347 shares | $213,840 |
| Targa Resources Corp | COM | 87612G101 | — | 785 shares | $212,193 |
| Polaris Inc | COM | 731068102 | — | 4,014 shares | $209,330 |
| Consolidated Edison | COM | 209115104 | — | 2,031 shares | $207,589 |
| Simmons First National Corp | CL A $1 PAR | 828730200 | — | 9,188 shares | $207,465 |
| Monster Beverage Corp | COM | 61174X109 | — | 4,897 shares | $203,813 |
| Solventum Corp | COM SHS | 83444M101 | — | 2,280 shares | $200,982 |
| Devon Energy Corp | COM | 25179M103 | — | 4,353 shares | $200,412 |
| Vanguard Utilities ETF | UTILITIES ETF | 92204A876 | — | 1,157 shares | $197,847 |
| Prudential Financial, Inc. | COM | 744320102 | — | 1,667 shares | $189,338 |
| Heartland Express Inc | COM | 422347104 | — | 16,194 shares | $188,012 |
| Eledon Pharmaceuticals Inc | COM | 28617K101 | — | 74,123 shares | $187,531 |
| GE HealthCare Technologies Inc | COMMON STOCK | 36266G107 | — | 2,847 shares | $186,108 |
| First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund ETF | NASDQ CLN EDGE | 33737A108 | — | 1,048 shares | $185,611 |
| iShares MSCI Japan ETF | MSCI JAPAN ETF | 46434G822 | — | 1,889 shares | $184,102 |
| Constellation Energy Corp | COM | 21037T109 | — | 721 shares | $183,148 |
| Xylem Inc | COM | 98419M100 | — | 1,799 shares | $182,185 |
| Valero Energy Corporation | COM | 91913Y100 | — | 469 shares | $181,789 |
| Alliant Energy Corporation | COM | 018802108 | — | 2,870 shares | $181,671 |
| Travelers Companies, Inc | COM | 89417E109 | — | 502 shares | $178,968 |
| Darden Restaurants Inc | COM | 237194105 | — | 923 shares | $178,370 |
| iShares MSCI EAFE Value ETF | EAFE VALUE ETF | 464288877 | — | 2,212 shares | $175,058 |
| Sandisk Corp | COM | 80004C200 | — | 99 shares | $172,249 |
| Southwest Gas Holdings Inc | COM | 844895102 | — | 2,071 shares | $168,869 |
| Vanguard Morningstar Mega Cap 300 Value Index ETF | MRNGSTR VAL ETF | 921910840 | — | 1,036 shares | $166,889 |
| O'Reilly Automotive, Inc. New | COM | 67103H107 | — | 1,925 shares | $164,414 |
| iShares MSCI USA MLRG ETF | MORNINGSTR US EQ | 464287127 | — | 1,546 shares | $163,350 |
| Analog Devices, Inc. | COM | 032654105 | — | 396 shares | $157,097 |
| Vertiv Holdings Co | COM CL A | 92537N108 | — | 650 shares | $156,852 |
| Marathon Petroleum Corp | COM | 56585A102 | — | 395 shares | $156,191 |
| Marten Transport Ltd | COM | 573075108 | — | 12,060 shares | $155,815 |
| Intuitive Surgical, Inc. | COM NEW | 46120E602 | — | 380 shares | $154,519 |
| iShares Core MSCI International Developed Markets ETF | CORE MSCI INTL | 46435G326 | — | 1,722 shares | $154,085 |
| Schneider Natl Inc-Cl B | CL B | 80689H102 | — | 4,792 shares | $152,625 |
| Parker-Hannifin Corporation | COM | 701094104 | — | 156 shares | $149,046 |
| Marvell Technology Inc | COM | 573874104 | — | 560 shares | $147,958 |
| Dimensional US Equity Market ETF | US EQUI MARK ETF | 25434V401 | — | 1,720 shares | $142,812 |
| Banco Santander Sa ADR | ADR | 05964H105 | — | 10,297 shares | $142,408 |
| Arista Networks Inc | COM SHS | 040413205 | — | 698 shares | $142,106 |
| Republic Services, Inc. | COM | 760759100 | — | 676 shares | $141,872 |
| Schwab U.S. Small-Cap ETF | US SML CAP ETF | 808524607 | — | 4,288 shares | $139,917 |
| Snap-On Inc | COM | 833034101 | — | 384 shares | $139,526 |
| Jackson Financial Inc | COM CL A | 46817M107 | — | 1,060 shares | $137,079 |
| BlackRock 2037 Municipal Target Term Trust ETF | COM | 09262G108 | — | 6,091 shares | $134,002 |
| Fortinet Inc. | COM | 34959E109 | — | 738 shares | $131,925 |
| SPDR S&P Regional Banking ETF | ST STR SP REGBNK | 78464A698 | — | 1,894 shares | $131,519 |
| American States Water Company | COM | 029899101 | — | 1,551 shares | $127,694 |
| The Charles Schwab Corporation | COM | 808513105 | — | 1,264 shares | $123,543 |
| Eaton Vance Municipal Income 2028 Term Trust ETF | SHS | 27829U105 | — | 7,000 shares | $122,850 |
| ALPS O'Shares U.S. Small-Cap Quality Dividend ETF | OSHARES US SMLCP | 00162Q395 | — | 2,621 shares | $120,383 |
| State Street Industrial Select Sector SPDR ETF | ST STR INDL ETF | 81369Y704 | — | 711 shares | $118,723 |
| EOG Resources, Inc. | COM | 26875P101 | — | 861 shares | $118,611 |
| State Street Health Care Select Sector SPDR ETF | ST STR CARE ETF | 81369Y209 | — | 694 shares | $116,883 |
| Brookfield Asset Management Ltd | CL A LMT VTG SHS | 113004105 | — | 2,519 shares | $112,297 |
| United Rentals, Inc. | COM | 911363109 | — | 112 shares | $112,087 |
| NEXTPower Inc | COM | 65290E101 | — | 1,438 shares | $112,063 |
| Murphy Oil Corp | COM | 626717102 | — | 2,990 shares | $110,690 |
| Simon Property Group, Inc. | COM | 828806109 | — | 546 shares | $109,615 |
| Chipotle Mexican Grill | COM | 169656105 | — | 3,420 shares | $109,269 |
| State Street SPDR S&P Dividend ETF | ST STR SP DIV | 78464A763 | — | 743 shares | $108,835 |
| McKesson Corp | COM | 58155Q103 | — | 127 shares | $108,434 |
| State Street SPDR Portfolio Emerging Markets ETF | ST PORT MARK ETF | 78463X509 | — | 2,090 shares | $108,178 |
| ConAgra Brands Inc | COM | 205887102 | — | 8,035 shares | $107,990 |
| ServiceNow, Inc. | COM | 81762P102 | — | 773 shares | $103,590 |
| iShares National Muni Bond Cl E | NATIONAL MUN ETF | 464288414 | — | 1,017 shares | $102,819 |
| Motorola Solutions, Inc. | COM NEW | 620076307 | — | 229 shares | $102,127 |
| JPMorgan Equity Premium Income ETF | EQUITY PREMIUM | 46641Q332 | — | 1,800 shares | $101,196 |
| Global X US Infrastructure Development ETF | US INFR DEV ETF | 37954Y673 | — | 1,884 shares | $98,910 |
| iShares Short-Term National US Municipals | SHRT NAT MUN ETF | 464288158 | — | 945 shares | $98,790 |
| First Trust Municipal High Income ETF | MUNI HI INCM ETF | 33739P301 | — | 2,200 shares | $98,670 |
| Newmont Corp | COM | 651639106 | — | 840 shares | $96,886 |
| Dimensional International Value ETF | INTERNATNAL VAL | 25434V807 | — | 1,713 shares | $95,688 |
| State Street Consumer Discretionary Select Sector SPDR ETF | ST STR DISCR ETF | 81369Y407 | — | 872 shares | $94,908 |
| Corning Inc | COM | 219350105 | — | 609 shares | $93,640 |
| Exelon Corp | COM | 30161N101 | — | 2,290 shares | $92,516 |
| Cognizant Technology Solutions Corp | CL A | 192446102 | — | 1,608 shares | $92,364 |
| State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | ST NUVE HIGH ETF | 78464A284 | — | 3,910 shares | $91,768 |
| Vertex Pharmaceuticals Inc | COM | 92532F100 | — | 169 shares | $88,355 |
| Quanta Services Inc | COM | 74762E102 | — | 137 shares | $88,024 |
| Chubb Ltd | COM | H1467J104 | — | 261 shares | $84,890 |
| Trane Technologies Plc | SHS | G8994E103 | — | 186 shares | $84,068 |
| Brinker Intermational, Inc. | COM | 109641100 | — | 430 shares | $83,218 |
| AstraZeneca PLC | ORD | G0593M107 | — | 500 shares | $81,461 |
| iShares North American Natural Resources ETF | NORTH AMERN NAT | 464287374 | — | 1,311 shares | $80,797 |
| The Progressive Corporation | COM | 743315103 | — | 386 shares | $80,022 |
| Adobe Inc | COM | 00724F101 | — | 333 shares | $79,900 |
| Vanguard Financials ETF | FINANCIALS ETF | 92204A405 | — | 607 shares | $78,965 |
| Vanguard Total International Bond ETF | TOTAL INT BD ETF | 92203J407 | — | 1,668 shares | $78,179 |
| Accenture PLC | SHS CLASS A | G1151C101 | — | 426 shares | $78,116 |
| Cheniere Energy Inc | COM NEW | 16411R208 | — | 285 shares | $76,674 |
| Enterprise Products Partners L.P. | COM | 293792107 | — | 2,135 shares | $76,027 |