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FARMERS & MERCHANTS INVESTMENTS INC

PO BOX 82535, LINCOLN, NE 68501 • 4023231619

Q4 2025 · Filed 2026-02-03
Market Value
$3.6B
+2.5%
Holdings
1,745
-13
New Purchases
30
Added To
326
Closed
49
Reduced
329
Top 10 Concentration
37.5%
Turnover
4.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VEA 6.13% 5.72% +0.42% $222M
LLY 1.32% 0.97% +0.35% $48M
GOOGL 1.56% 1.23% +0.33% $56M
META 0.34% 0.05% +0.29% $12M
GOOG 1.25% 0.98% +0.26% $45M
AMD 1.13% 0.88% +0.25% $41M
NNI 4.36% 4.21% +0.15% $157M
WCC 1.21% 1.07% +0.14% $44M
AMZN 0.97% 0.84% +0.13% $35M
APH 1.33% 1.25% +0.08% $48M
ALB 0.17% 0.09% +0.07% $6M
CRM 0.41% 0.34% +0.07% $15M
JNJ 0.90% 0.83% +0.07% $32M
AAPL 3.22% 3.15% +0.07% $116M
IJH 3.34% 3.28% +0.06% $121M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ORCL 1.10% 1.60% -0.50% $40M
MSFT 3.51% 3.81% -0.30% $127M
VWO 2.13% 2.36% -0.22% $77M
CMCSA 0.17% 0.35% -0.18% $6M
JPM 1.34% 1.51% -0.18% $48M
FI 0.17% 0.30% -0.14% $6M
DAL 0.11% 0.19% -0.08% $4M
CVX 0.46% 0.54% -0.08% $17M
APD 0.48% 0.55% -0.08% $17M
PG 0.53% 0.60% -0.07% $19M
ADP 0.33% 0.40% -0.07% $12M
SLQD 1.36% 1.42% -0.07% $49M
ROP 0.43% 0.50% -0.07% $16M
BRK-A 0.79% 0.86% -0.06% $29M
LOW 0.84% 0.90% -0.06% $30M

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 75 $1.9B 52.6%
Large Cap 723 $1.4B 40.0%
Mid Cap 644 $254M 7.0%
Small Cap 286 $15M 0.4%
Micro Cap 17 $117K 0.0%

Portfolio Analytics

Avg Market Cap
$56.1B
Median Market Cap
$8.3B
Avg P/E
32.1
Median P/E
21.6
Avg Dividend Yield
0.02%
Avg Beta
1.02
# Stocks
1,547
# ETFs / Funds
198

Top Holdings (1,745 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 7.20% 380,174 $260M $684.94 $6M +422 +0.1%
2 VEA 6.13% 3,549,570 $222M $62.47 $20M +185,456 +5.5%
3 NNI 4.36% 1,184,351 $157M $132.96 $9M +1,009 +0.1%
4 IJR 3.93% 1,182,618 $142M $120.18 $5M +31,195 +2.7%
5 MSFT 3.51% 262,746 $127M $483.62 -$7M +3,347 +1.3%
6 IJH 3.34% 1,832,117 $121M $66.00 $5M +59,664 +3.4%
7 AAPL 3.22% 428,221 $116M $271.86 $5M -8,164 -1.9%
8 VWO 2.13% 1,434,195 $77M $53.76 -$6M -98,460 -6.4%
9 AVGO 2.05% 214,094 $74M $346.10 $2M -3,656 -1.7%
10 BND 1.61% 787,867 $58M $74.07 $1M +22,981 +3.0%
11 GOOGL 1.56% 179,643 $56M $313.00 $13M +1,850 +1.0%
12 BRK-B 1.43% 102,852 $52M $502.65 $251K +517 +0.5%
13 SLQD 1.36% 968,322 $49M $50.70 -$1M -19,684 -2.0%
14 JPM 1.34% 150,152 $48M $322.22 -$5M -19,072 -11.3%
15 APH 1.33% 355,685 $48M $135.14 $4M +364 +0.1%
16 WMT 1.33% 430,084 $48M $111.41 $3M -7,480 -1.7%
17 LLY 1.32% 44,287 $48M $1,074.68 $14M -350 -0.8%
18 GOOG 1.25% 143,502 $45M $313.80 $10M +1,233 +0.9%
19 WCC 1.21% 178,723 $44M $244.64 $6M +504 +0.3%
20 AMD 1.13% 191,121 $41M $214.16 $10M -943 -0.5%
21 ORCL 1.10% 204,543 $40M $194.91 -$17M +3,827 +1.9%
22 AMZN 0.97% 151,881 $35M $230.82 $5M +17,188 +12.8%
23 NVDA 0.92% 178,466 $33M $186.50 $1M +6,079 +3.5%
24 JNJ 0.90% 156,431 $32M $206.95 $3M -677 -0.4%
25 XOM 0.88% 265,450 $32M $120.34 $2M +2,230 +0.8%
26 LOW 0.84% 125,618 $30M $241.16 -$1M -629 -0.5%
27 BRK-A 0.79% 38 $29M $754,800.00 -$1M -2 -5.0%
28 GS 0.78% 31,920 $28M $879.00 $3M +294 +0.9%
29 TSM 0.77% 91,680 $28M $303.89 $3M +1,737 +1.9%
30 EMR 0.67% 181,856 $24M $132.72 $326K +349 +0.2%
31 PEP 0.65% 164,843 $24M $143.52 $306K -1,434 -0.9%
32 V 0.65% 66,872 $23M $350.71 $433K -558 -0.8%
33 CSCO 0.64% 302,120 $23M $77.03 $3M -674 -0.2%
34 VOO 0.63% 36,368 $23M $627.13 $79K -747 -2.0%
35 ABT 0.60% 172,482 $22M $125.29 -$2M -1,152 -0.7%
36 BAC 0.59% 390,379 $21M $55.00 $2M +4,277 +1.1%
37 RTX 0.59% 115,429 $21M $183.40 $2M -710 -0.6%
38 COF 0.57% 84,711 $21M $242.36 $3M +1,018 +1.2%
39 MCD 0.56% 66,766 $20M $305.63 -$260K -1,239 -1.8%
40 UNH 0.56% 61,587 $20M $330.11 -$1M -343 -0.6%
41 CVS 0.56% 254,994 $20M $79.36 $1M +5,258 +2.1%
42 PG 0.53% 133,984 $19M $143.31 -$2M -4,627 -3.3%
43 VCSH 0.53% 238,760 $19M $79.73 $2M +30,100 +14.4%
44 UNP 0.51% 79,928 $18M $231.32 -$753K -1,479 -1.8%
45 ABBV 0.51% 80,766 $18M $228.49 -$1M -3,777 -4.5%
46 IWM 0.49% 72,416 $18M $246.16 $155K -616 -0.8%
47 TXN 0.49% 101,689 $18M $173.49 -$1M -927 -0.9%
48 APD 0.48% 69,988 $17M $247.02 -$2M -1,629 -2.3%
49 PANW 0.47% 92,978 $17M $184.20 -$1M +2,335 +2.6%
50 CVX 0.46% 109,020 $17M $152.41 -$2M -12,758 -10.5%
51 DOV 0.45% 84,078 $16M $195.24 $2M -2,252 -2.6%
52 DIS 0.45% 143,238 $16M $113.77 -$534K -3,747 -2.5%
53 VTIP 0.44% 321,170 $16M $49.46 $584K +18,956 +6.3%
54 ROP 0.43% 34,931 $16M $445.13 -$2M -170 -0.5%
55 MET 0.43% 194,933 $15M $78.94 -$766K -1,178 -0.6%
56 AMP 0.42% 31,242 $15M $490.34 -$151K -250 -0.8%
57 COST 0.42% 17,484 $15M $862.34 -$1M +9 +0.1%
58 USB 0.42% 282,217 $15M $53.36 $1M -321 -0.1%
59 WM 0.42% 68,416 $15M $219.71 -$217K -635 -0.9%
60 BLK 0.42% 14,042 $15M $1,070.34 -$1M +104 +0.8%
61 CRM 0.41% 56,630 $15M $264.91 $3M +5,329 +10.4%
62 ICLR 0.41% 80,575 $15M $182.22 $676K +537 +0.7%
63 WFC 0.40% 156,911 $15M $93.20 $914K -6,650 -4.1%
64 CAT 0.40% 25,136 $14M $572.87 $2M -1,345 -5.1%
65 IVW 0.39% 115,390 $14M $123.26 $279K -119 -0.1%
66 ROST 0.39% 78,712 $14M $180.14 $2M -795 -1.0%
67 SYK 0.39% 40,325 $14M $351.47 -$863K -348 -0.9%
68 AFL 0.38% 124,559 $14M $110.27 -$793K -5,503 -4.2%
69 LIN 0.37% 31,547 $13M $426.39 -$2M -20 -0.1%
70 ENB 0.37% 280,005 $13M $47.83 -$500K +4,678 +1.7%
71 GNMA 0.37% 299,939 $13M $44.54 $2M +33,004 +12.4%
72 SYY 0.36% 178,006 $13M $73.69 -$2M -678 -0.4%
73 HYG 0.36% 162,343 $13M $80.63 $768K +10,585 +7.0%
74 MDT 0.36% 135,856 $13M $96.06 $69K -450 -0.3%
75 BSV 0.36% 163,786 $13M $78.81 $78K +1,200 +0.7%
76 TJX 0.36% 83,899 $13M $153.61 $563K -1,372 -1.6%
77 IWP 0.35% 93,501 $13M $136.94 -$530K -128 -0.1%
78 ASML 0.35% 11,920 $13M $1,069.86 $1M +189 +1.6%
79 NKE 0.35% 199,229 $13M $63.71 -$1M -965 -0.5%
80 DELL 0.35% 100,395 $13M $125.88 -$2M -715 -0.7%
81 META 0.34% 18,577 $12M $660.09 $11M +16,194 +679.6%
82 MRK 0.34% 116,482 $12M $105.26 $2M -6,660 -5.4%
83 NUE 0.34% 74,725 $12M $163.11 $2M -860 -1.1%
84 ADP 0.33% 46,598 $12M $257.23 -$2M -1,767 -3.6%
85 MBB 0.33% 125,469 $12M $95.22 $1M +11,194 +9.8%
86 SBUX 0.33% 140,742 $12M $84.21 -$176K -1,430 -1.0%
87 QCOM 0.32% 67,821 $12M $171.05 $75K -1,460 -2.1%
88 VZ 0.31% 272,390 $11M $40.73 -$1M -6,892 -2.5%
89 EW 0.30% 125,707 $11M $85.25 $1M +1,962 +1.6%
90 HD 0.29% 30,996 $11M $344.10 -$2M -46 -0.1%
91 ITT 0.27% 56,455 $10M $173.51 -$341K -250 -0.4%
92 HON 0.27% 50,162 $10M $195.09 -$958K -881 -1.7%
93 MDLZ 0.26% 175,097 $9M $53.83 -$2M -2,559 -1.4%
94 OXY 0.26% 228,305 $9M $41.12 -$1M +1,190 +0.5%
95 COP 0.26% 99,698 $9M $93.61 -$240K -1,500 -1.5%
96 ITW 0.25% 37,029 $9M $246.30 -$540K -18 -0.1%
97 NEE 0.25% 112,722 $9M $80.28 $314K -2,997 -2.6%
98 GWW 0.24% 8,674 $9M $1,009.05 $64K -443 -4.9%
99 SPY 0.24% 12,536 $9M $681.92 $84K -170 -1.3%
100 PYPL 0.24% 145,547 $8M $58.38 -$1M -2,157 -1.5%

New Positions

SymbolValue% Port
SOLS $587K 0.02%
TOTB.DE $506K 0.01%
GIL $225K 0.01%
XRP $49K —%
Q $45K —%
CVNA $29K —%
RGTI $22K —%
ARES $22K —%
AEM $17K —%
MICC $17K —%
PINS $14K —%
RKT $8K —%
BSY $5K —%
ULS $4K —%
DFAI $4K —%

Sold Out Positions

SymbolValue% Port
SGOV —%
RC —%
CLW —%
LXP —%
MLR —%
ASIX —%
UL —%
RGR —%
IONQ —%
CCJ —%
TTE —%
HELE —%
VGSH —%
UEVM —%
THRY —%
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