FARMERS & MERCHANTS INVESTMENTS INC

FARMERS & MERCHANTS INVESTMENTS INC is an institution, managing $3.5B across 1,738 long positions as of Q3 2025 with 32% ETF concentration.

Portfolio Value: $3.5B
Positions: 1,738
Top Holding: IVV at 7.21%
Last Reported: Q3 2025

Top Holdings

Largest long holdings in FARMERS & MERCHANTS INVESTMENTS INC's portfolio (37.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$254.2M	7.21%	-$9.6M Sold	— 379.8K shares	≤ Q2 2013 Held for 12y 5m+
2 Vanguard FTSE Developed Markets VEA	ETF ETF	$201.6M	5.71%	+$14.6M Bought	— 3.4M shares	≤ Q2 2013 Held for 12y 5m+
3 Nelnet NNI	Financial - Credit Services Financial Services	$148.4M	4.21%	-$2.4M Sold	3.27% 1.2M shares	≤ Q2 2013 Held for 12y 5m+
4 iShares Core S&P Small-Cap ETF IJR	ETF ETF	$136.8M	3.88%	+$3.2M Bought	— 1.2M shares	≤ Q2 2013 Held for 12y 5m+
5 Microsoft MSFT	Software - Infrastructure Technology	$134.4M	3.81%	-$7.1M Sold	0.00% 259.4K shares	≤ Q2 2013 Held for 12y 5m+
6 iShares Core S&P Mid-Cap ETF IJH	ETF ETF	$115.7M	3.28%	+$2.8M Bought	— 1.8M shares	≤ Q2 2013 Held for 12y 5m+
7 Apple AAPL	Consumer Electronics Technology	$111.1M	3.15%	-$5.1M Sold	0.00% 436.4K shares	≤ Q2 2013 Held for 12y 5m+
8 Vanguard FTSE Emerging Markets VWO	ETF ETF	$83.0M	2.35%	-$6.8M Sold	— 1.5M shares	≤ Q2 2013 Held for 12y 5m+
9 Broadcom Inc. AVGO	Semiconductors Technology	$71.8M	2.04%	-$4.3M Sold	0.00% 217.8K shares	Q4 2018 Held for 6y 11m
10 Vanguard Total Bond Market BND	ETF ETF	$56.9M	1.61%	-$326.9K Sold	— 764.9K shares	Q2 2019 Held for 6y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in FARMERS & MERCHANTS INVESTMENTS INC's latest filing

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Market Value

$3.5B

Prior: $3.4B

Q/Q Change

+2.86%

+$97.9M

Net Flows % of MV

-3.61%

Turnover Ratio

2.69%

New Purchases

32 stocks

$1.1M

Added To

361 stocks

+$29.9M

Sold Out Of

45 stocks

$1.1M

Reduced Holdings

334 stocks

-$157.2M

Increased Positions

Position	Shares Δ	Change
1 Ralliant Corporation RAL	New	0 → 13.7K +$599.5K
2 Applovin Corporation APP	New	0 → 149.0 +$107.1K
3 Robinhood Markets, Inc. HOOD	New	0 → 450.0 +$64.4K
4 IonQ IONQ	New	0 → 800.0 +$49.2K
5 iShares Bitcoin Trust IBIT	New	0 → 690.0 +$44.9K

Decreased Positions

Position	Shares Δ	Change
1 Juniper Networks JNPR	Sold	16.4K → 0 −$656.8K
2 Walgreens Boots Alliance WBA	Sold	9.8K → 0 −$112.0K
3 Hess HES	Sold	803.0 → 0 −$111.2K
4 NFLT Virtus Newfleet Multi-Sector Bond NFLT	Sold	1.4K → 0 −$30.8K
5 BXMX Nuveen S&P Buy-Write Income Fund BXMX	Sold	1.9K → 0 −$25.7K

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Analytics

Portfolio insights and performance metrics for FARMERS & MERCHANTS INVESTMENTS INC

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Sector Allocation

ETF

32.30%

Technology

18.20%

Financial Services

14.10%

Industrials

8.30%

Healthcare

7.20%

Consumer Defensive

4.70%

Consumer Cyclical

4.70%

Communication Services

3.70%

Energy

2.70%

Basic Materials

1.60%

Utilities

1.20%

Real Estate

0.50%

Market Cap Distribution

Mega Cap (> $200B)

34.27%

Large Cap ($10B - $200B)

26.98%

Mid Cap ($2B - $10B)

4.92%

Small Cap ($300M - $2B)

0.05%

Micro Cap ($50M - $300M)

0.00%

Nano Cap (< $50M)