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FARMERS & MERCHANTS INVESTMENTS INC

PO BOX 82535, LINCOLN, NE 68501 • 4023231619

Q2 2025 · Filed 2025-07-14
Market Value
$3.4B
+9.0%
Holdings
1,754
-18
New Purchases
34
Added To
498
Closed
50
Reduced
303
Top 10 Concentration
35.9%
Turnover
4.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 3.96% 3.26% +0.70% $136M
AVGO 1.86% 1.27% +0.58% $64M
CRM 0.39% 0.01% +0.38% $13M
ORCL 1.39% 1.03% +0.36% $48M
NVDA 0.88% 0.53% +0.34% $30M
APH 1.09% 0.82% +0.28% $38M
IVV 7.14% 6.87% +0.27% $245M
VEA 5.19% 4.95% +0.24% $178M
IJH 3.13% 2.96% +0.17% $107M
AMD 0.84% 0.67% +0.17% $29M
TSM 0.67% 0.51% +0.16% $23M
AMZN 0.96% 0.82% +0.14% $33M
IJR 3.58% 3.45% +0.13% $123M
GOOGL 0.99% 0.88% +0.11% $34M
GS 0.65% 0.54% +0.11% $22M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 2.73% 3.19% -0.46% $94M
UNH 0.60% 1.02% -0.42% $21M
BRK-B 1.42% 1.69% -0.27% $49M
LLY 1.05% 1.24% -0.19% $36M
BRK-A 0.98% 1.17% -0.19% $34M
SLQD 1.49% 1.65% -0.16% $51M
XOM 0.86% 1.02% -0.16% $29M
FI 0.41% 0.57% -0.16% $14M
ROP 0.63% 0.77% -0.14% $22M
CVX 0.50% 0.64% -0.14% $17M
PEP 0.70% 0.83% -0.13% $24M
ABBV 0.47% 0.59% -0.12% $16M
MCD 0.60% 0.72% -0.11% $21M
PG 0.67% 0.78% -0.11% $23M
LOW 0.84% 0.95% -0.11% $29M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 46.7%
Technology 16.8%
Industrials 8.5%
Healthcare 7.2%
Consumer Defensive 4.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 74 $1.7B 50.0%
Large Cap 702 $1.5B 42.3%
Mid Cap 647 $250M 7.3%
Small Cap 312 $13M 0.4%
Micro Cap 19 $88K 0.0%

Portfolio Analytics

Avg Market Cap
$55.2B
Median Market Cap
$7.8B
Avg P/E
31.8
Median P/E
21.4
Avg Dividend Yield
0.02%
Avg Beta
1.01
# Stocks
1,545
# ETFs / Funds
209

Top Holdings (1,754 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 7.14% 394,126 $245M $620.90 $29M +9,639 +2.5%
2 VEA 5.19% 3,120,846 $178M $57.01 $22M +56,054 +1.8%
3 NNI 4.25% 1,202,262 $146M $121.12 $12M -2,536 -0.2%
4 MSFT 3.96% 273,085 $136M $497.41 $33M +106 +0.0%
5 IJR 3.58% 1,124,458 $123M $109.29 $14M +86,544 +8.3%
6 IJH 3.13% 1,729,458 $107M $62.02 $14M +134,179 +8.4%
7 AAPL 2.73% 456,368 $94M $205.17 -$7M +5,086 +1.1%
8 VWO 2.39% 1,658,374 $82M $49.46 $10M +56,990 +3.6%
9 AVGO 1.86% 230,743 $64M $275.65 $24M -8,757 -3.7%
10 BND 1.65% 769,282 $57M $73.63 $2M +28,919 +3.9%
11 SLQD 1.49% 1,008,095 $51M $50.59 -$850K -23,125 -2.2%
12 BRK-B 1.42% 100,030 $49M $485.77 -$5M +140 +0.1%
13 ORCL 1.39% 218,040 $48M $218.63 $15M -12,956 -5.6%
14 JPM 1.34% 158,601 $46M $289.91 $6M -5,764 -3.5%
15 WMT 1.31% 457,746 $45M $97.78 $4M -2,610 -0.6%
16 APH 1.09% 380,088 $38M $98.75 $12M -11,943 -3.0%
17 LLY 1.05% 46,109 $36M $779.53 -$3M -1,114 -2.4%
18 WCC 1.04% 193,277 $36M $185.20 $6M +3,366 +1.8%
19 GOOGL 0.99% 191,940 $34M $176.23 $6M +13,589 +7.6%
20 BRK-A 0.98% 46 $34M $728,800.00 -$3M
21 AMZN 0.96% 150,191 $33M $219.39 $7M +14,541 +10.7%
22 NVDA 0.88% 190,027 $30M $157.99 $13M +34,733 +22.4%
23 XOM 0.86% 273,413 $29M $107.80 -$3M +3,589 +1.3%
24 LOW 0.84% 130,540 $29M $221.87 -$1M +1,745 +1.4%
25 AMD 0.84% 202,553 $29M $141.90 $8M -2,240 -1.1%
26 GOOG 0.76% 146,022 $26M $177.39 $3M +1,749 +1.2%
27 JNJ 0.75% 169,051 $26M $152.75 -$1M +6,670 +4.1%
28 V 0.75% 72,321 $26M $355.05 -$442K -2,209 -3.0%
29 EMR 0.74% 189,657 $25M $133.33 $4M +57 +0.0%
30 PEP 0.70% 181,021 $24M $132.04 -$2M +7,376 +4.2%
31 ABT 0.69% 173,817 $24M $136.01 -$158K -5,595 -3.1%
32 PG 0.67% 144,911 $23M $159.32 -$2M +247 +0.2%
33 TSM 0.67% 101,911 $23M $226.49 $7M +5,422 +5.6%
34 GS 0.65% 31,479 $22M $707.75 $5M +286 +0.9%
35 CSCO 0.63% 313,249 $22M $69.38 $2M -2,410 -0.8%
36 ROP 0.63% 38,292 $22M $566.84 -$3M -2,992 -7.2%
37 TXN 0.63% 103,868 $22M $207.62 $3M -22 -0.0%
38 VOO 0.61% 37,013 $21M $568.03 $4M +3,077 +9.1%
39 APD 0.61% 74,225 $21M $282.06 -$571K +1,300 +1.8%
40 MCD 0.60% 70,819 $21M $292.17 -$2M -1,253 -1.7%
41 UNH 0.60% 65,753 $21M $311.97 -$12M +4,315 +7.0%
42 VCSH 0.58% 252,138 $20M $79.50 $1M +14,000 +5.9%
43 PANW 0.57% 96,053 $20M $204.64 $4M +5,529 +6.1%
44 DIS 0.57% 157,918 $20M $124.01 $4M +2,570 +1.6%
45 UNP 0.57% 84,301 $19M $230.08 -$1M -2,433 -2.8%
46 BAC 0.56% 408,611 $19M $47.32 $3M +18,255 +4.7%
47 CVS 0.54% 266,774 $18M $68.98 $628K +4,430 +1.7%
48 COF 0.53% 85,784 $18M $212.76 $2M -2,391 -2.7%
49 CVX 0.50% 119,856 $17M $143.19 -$3M +223 +0.2%
50 SYK 0.50% 43,270 $17M $395.63 $608K -1,084 -2.4%
51 COST 0.50% 17,270 $17M $989.94 $768K +6 +0.0%
52 RTX 0.50% 116,500 $17M $146.02 $2M +564 +0.5%
53 MET 0.50% 211,398 $17M $80.42 $162K +1,672 +0.8%
54 AMP 0.49% 31,742 $17M $533.73 $2M
55 VTIP 0.49% 335,992 $17M $50.27 $254K +2,606 +0.8%
56 WM 0.48% 72,155 $17M $228.82 -$226K -137 -0.2%
57 ABBV 0.47% 86,593 $16M $185.62 -$3M -2,188 -2.5%
58 DOV 0.47% 87,036 $16M $183.23 $417K -1,369 -1.6%
59 BSV 0.46% 201,586 $16M $78.70 $85K
60 IWM 0.46% 72,974 $16M $215.79 $1M -668 -0.9%
61 NKE 0.45% 219,289 $16M $71.04 $3M +15,747 +7.7%
62 BLK 0.45% 14,817 $16M $1,049.25 $3M +1,850 +14.3%
63 LIN 0.45% 32,692 $15M $469.18 -$199K -675 -2.0%
64 ADP 0.43% 48,326 $15M $308.40 $73K -216 -0.4%
65 USB 0.43% 325,101 $15M $45.25 $4M +59,733 +22.5%
66 CMCSA 0.43% 412,018 $15M $35.69 -$636K -3,717 -0.9%
67 MBB 0.42% 153,141 $14M $93.89 $2M +22,179 +16.9%
68 SYY 0.41% 187,235 $14M $75.74 $317K +2,476 +1.3%
69 FI 0.41% 81,964 $14M $172.41 -$4M +711 +0.9%
70 WFC 0.41% 174,622 $14M $80.12 $1M -4,919 -2.7%
71 HYG 0.41% 173,010 $14M $80.65 $417K +1,424 +0.8%
72 AFL 0.40% 130,582 $14M $105.46 -$2M -12,341 -8.6%
73 HON 0.39% 57,843 $13M $232.88 $1M -894 -1.5%
74 MDLZ 0.39% 198,261 $13M $67.44 -$87K -82 -0.0%
75 ENB 0.39% 294,383 $13M $45.32 $33K -5,976 -2.0%
76 VZ 0.39% 306,677 $13M $43.27 $394K +22,823 +8.0%
77 CRM 0.39% 48,440 $13M $272.69 $13M +47,302 +4156.6%
78 SBUX 0.38% 141,290 $13M $91.63 -$430K +4,924 +3.6%
79 IWP 0.38% 93,028 $13M $138.68 $2M -720 -0.8%
80 ICLR 0.37% 87,573 $13M $145.45 -$2M +2,181 +2.5%
81 IVW 0.37% 115,559 $13M $110.10 $2M -1,251 -1.1%
82 DELL 0.36% 101,885 $12M $122.60 $3M -1,000 -1.0%
83 MDT 0.35% 137,494 $12M $87.17 -$243K +1,416 +1.0%
84 PYPL 0.35% 160,495 $12M $74.32 $1M -592 -0.4%
85 HD 0.33% 31,239 $11M $366.64 -$465K -1,282 -3.9%
86 ASML 0.33% 14,130 $11M $801.39 $2M +648 +4.8%
87 BAH 0.33% 107,868 $11M $104.13 $294K +3,271 +3.1%
88 QCOM 0.32% 69,887 $11M $159.26 $256K -907 -1.3%
89 GNMA 0.32% 251,648 $11M $43.95 $518K +11,521 +4.8%
90 EW 0.32% 138,782 $11M $78.21 $884K +1,229 +0.9%
91 MRK 0.31% 135,642 $11M $79.16 -$1M -139 -0.1%
92 ROST 0.31% 83,318 $11M $127.58 -$323K -2,389 -2.8%
93 TJX 0.31% 85,431 $11M $123.49 $8K -1,121 -1.3%
94 ATR 0.31% 66,913 $10M $156.43 $1M +3,691 +5.8%
95 CAT 0.30% 26,587 $10M $388.21 $2M +124 +0.5%
96 NUE 0.30% 79,085 $10M $129.54 $553K -1,450 -1.8%
97 ITT 0.30% 65,027 $10M $156.83 $2M +1,850 +2.9%
98 OXY 0.29% 239,436 $10M $42.01 -$2M -6,950 -2.8%
99 UBER 0.29% 107,057 $10M $93.30 $2M +4,017 +3.9%
100 NEE 0.28% 139,733 $10M $69.42 $440K +9,098 +7.0%

New Positions

SymbolValue% Port
RAL $662K 0.02%
IGV $59K —%
DASH $52K —%
COIN $46K —%
SPTM $37K —%
USIG $31K —%
RDVY $26K —%
FTCS $25K —%
FXL $19K —%
USHY $19K —%
GOVT $19K —%
SAN $17K —%
SPHQ $15K —%
OKTA $13K —%
FNY $11K —%

Sold Out Positions

SymbolValue% Port
WNC —%
MUX —%
GDOT —%
LUMN —%
BNS —%
NBR —%
FLGT —%
HAIN —%
ICOW —%
BOTZ —%
GCOW —%
ROKU —%
QQEW —%
PXF —%
SCHC —%
View SEC EDGAR Filings for FARMERS & MERCHANTS INVESTMENTS INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms