Farmers & Merchants Investments Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 28, 2025), Farmers & Merchants Investments Inc. reported 1,773 stock positions worth $3.2 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 7.0% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 4.5%) and Nelnet Class A (NNI, 4.0%). Compared with Q3 2024, it opened 39 new positions, sold out of 60, added to 118 and reduced 286. The biggest buy was Broadcom (AVGO, shares +3%) and the biggest sale Advanced Micro Devices (AMD, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- LINCOLN, NE
- CIK
- 0001259969
- Portfolio Value
- $3.2B (Q4 2024)
- SEC Filing
- 0001140361-25-002163 ↗ filed Jan 28, 2025
Holdings Value
Holdings 1,773 stocks · $3.2B
| IVV iShares Core S&P 500 ETF | 7.02% | 380,306 | $223.9M | Reduce -1.1% |
| VEA Vanguard Ftse Developed ETF | 4.51% | 3,006,914 | $143.8M | Add +1.6% |
| NNI Nelnet Inc. Class A | 3.98% | 1,187,527 | $126.8M | Add +0.5% |
| MSFT Microsoft Corp. | 3.64% | 275,785 | $116.2M | Add +1.0% |
| IJR iShares Core S&P Small-Cap E | 3.62% | 1,001,292 | $115.4M | Add +1.8% |
| AAPL Apple Inc. | 3.59% | 456,969 | $114.4M | Reduce -2.5% |
| IJH iShares Core S&P Midcap ETF | 3.00% | 1,534,329 | $95.6M | Add +0.4% |
| VWO Vanguard Ftse Emerging Marke | 2.15% | 1,558,534 | $68.6M | Add +1.2% |
| AVGO Broadcom Inc. | 1.77% | 243,632 | $56.5M | Add +2.9% |
| BND Vanguard Total Bond Market | 1.68% | 745,174 | $53.6M | Add +18.2% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 1.64% | 1,049,110 | $52.2M | Add +3.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.43% | 100,919 | $45.7M | Reduce -1.1% |
| WMT Walmart Inc. | 1.35% | 475,322 | $42.9M | Reduce -1.0% |
| JPM JPMorgan Chase & Co. | 1.29% | 172,005 | $41.2M | Add +3.3% |
| ORCL Oracle Corp. | 1.19% | 227,848 | $38.0M | Add +0.2% |
| LLY Eli Lilly & Co. | 1.17% | 48,193 | $37.2M | Add +0.4% |
| WCC Wesco International Inc. | 1.11% | 195,731 | $35.4M | Add +0.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.07% | 50 | $34.0M | Reduce -3.9% |
| LOW Lowe's Cos Inc. | 1.02% | 132,050 | $32.6M | Reduce -1.2% |
| GOOGL Alphabet Inc. Class A | 0.99% | 166,835 | $31.6M | Add +1.3% |
| UNH Unitedhealth Group Inc. | 0.98% | 62,025 | $31.4M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 0.91% | 131,650 | $28.9M | Add +3.7% |
| XOM Exxon Mobil Corp. | 0.91% | 268,448 | $28.9M | Reduce -2.8% |
| APH Amphenol Corp. Class A | 0.90% | 413,585 | $28.7M | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 0.86% | 143,705 | $27.4M | Reduce -0.5% |
| PEP Pepsico Inc. | 0.82% | 172,867 | $26.3M | Reduce -0.8% |
| AMD Advanced Micro Devices | 0.77% | 204,598 | $24.7M | Reduce -0.9% |
| PG The Procter & Gamble Co. | 0.77% | 147,268 | $24.7M | Add +0.1% |
| EMR Emerson Electric Co. | 0.74% | 191,231 | $23.7M | Reduce -0.9% |
| JNJ Johnson & Johnson | 0.73% | 161,888 | $23.4M | Reduce -0.3% |
| V Visa Inc. Class A | 0.73% | 74,047 | $23.4M | Add +2.2% |
| ROP Roper Technologies Inc. | 0.67% | 41,386 | $21.5M | Add +0.3% |
| APD Air Products & Chemicals Inc. | 0.65% | 72,018 | $20.9M | Reduce -0.5% |
| MCD McDonald's Corp. | 0.65% | 71,398 | $20.7M | Reduce -0.4% |
| ABT Abbott Laboratories | 0.65% | 182,516 | $20.6M | Reduce -0.4% |
| TXN Texas Instruments Inc. | 0.62% | 106,267 | $19.9M | Reduce -1.3% |
| UNP Union Pacific Corp. | 0.62% | 87,373 | $19.9M | Reduce -2.0% |
| CSCO Cisco Systems Inc. | 0.59% | 316,152 | $18.7M | Add +0.1% |
| VOO Vanguard S&P 500 ETF | 0.58% | 34,320 | $18.5M | Reduce -1.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.58% | 235,888 | $18.4M | Add +7.4% |
| GS Goldman Sachs Group Inc. | 0.56% | 31,165 | $17.8M | Reduce -0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.55% | 158,427 | $17.6M | Add +0.1% |
| ICLR Icon PLC | 0.55% | 83,511 | $17.5M | Add +1.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.54% | 393,821 | $17.3M | Reduce -0.1% |
| CVX Chevron Corp. | 0.54% | 119,097 | $17.3M | Reduce -0.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.54% | 86,962 | $17.2M | Add +3.7% |
| AMP Ameriprise Financial Inc. | 0.54% | 32,195 | $17.1M | Reduce -2.0% |
| MET Metlife Inc. | 0.54% | 208,926 | $17.1M | Add +7.0% |
| FISV Fiserv Inc. | 0.53% | 82,503 | $16.9M | Reduce 0.0% |
| DOV Dover Corp. | 0.53% | 89,573 | $16.8M | Reduce -1.2% |
| IWM iShares Russell 2000 ETF | 0.51% | 73,746 | $16.3M | Reduce -0.5% |
| HON Honeywell International Inc. | 0.51% | 71,885 | $16.2M | Add +0.0% |
| VTIP Vanguard Short-Term Tips | 0.51% | 334,605 | $16.2M | Add +0.9% |
| ABBV Abbvie Inc. | 0.50% | 90,356 | $16.1M | Reduce -0.8% |
| SYK Stryker Corp. | 0.50% | 44,536 | $16.0M | Reduce -0.0% |
| COF Capital One Financial Corp. | 0.50% | 89,045 | $15.9M | Reduce -0.5% |
| AFL Aflac Inc. | 0.49% | 151,414 | $15.7M | Reduce -0.7% |
| CMCSA Comcast Corp. Class A | 0.49% | 415,553 | $15.6M | Add +1.2% |
| BSV Vanguard Short-Term Bond ETF | 0.49% | 201,732 | $15.6M | Add +0.3% |
| COST Costco Wholesale Corp. | 0.49% | 16,936 | $15.5M | Reduce -1.6% |
| NKE Nike Inc. Class B | 0.47% | 196,586 | $14.9M | Add +1.3% |
| PANW Palo Alto Networks Inc. | 0.47% | 81,720 | $14.9M | Add +1.7% |
| WM Waste Management Inc. | 0.46% | 73,057 | $14.7M | Reduce -0.3% |
| ADP Automatic Data Processing | 0.46% | 49,950 | $14.6M | Reduce -0.9% |
| SYY Sysco Corp. | 0.46% | 190,878 | $14.6M | Reduce -0.7% |
| LIN Linde PLC | 0.44% | 33,762 | $14.1M | Reduce -0.3% |
| PYPL PayPal Holdings Inc. | 0.44% | 163,157 | $13.9M | Reduce -0.3% |
| RTX RTX Corp. | 0.43% | 117,907 | $13.6M | Reduce -0.2% |
| WFC Wells Fargo & Co. | 0.42% | 192,820 | $13.5M | Reduce -0.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.42% | 170,877 | $13.4M | Add +10.5% |
| HD Home Depot Inc. | 0.42% | 34,284 | $13.3M | Reduce -5.8% |
| MRK Merck & Co. Inc. | 0.42% | 133,748 | $13.3M | Add +1.9% |
| BLK BlackRock Inc. | 0.41% | 12,913 | $13.2M | Reduce -0.3% |
| ENB Enbridge Inc. | 0.41% | 310,336 | $13.2M | Reduce -1.1% |
| ROST Ross Stores Inc. | 0.41% | 86,707 | $13.1M | Reduce 0.0% |
| SBUX Starbucks Corp. | 0.39% | 136,722 | $12.5M | Reduce -1.3% |
| OXY Occidental Petroleum Corp. | 0.38% | 246,397 | $12.2M | Reduce -0.3% |
| USB US Bancorp | 0.38% | 251,543 | $12.0M | Add +2.8% |
| CVS CVS Health Corp. | 0.37% | 266,371 | $12.0M | Reduce -3.7% |
| IVW iShares S&P 500 Growth ETF | 0.37% | 117,152 | $11.9M | Reduce -4.1% |
| IWP iShares Russell Mid-Cap Grow | 0.37% | 93,720 | $11.9M | Reduce -0.1% |
| DELL Dell Technologies -C | 0.37% | 102,885 | $11.9M | Reduce -0.3% |
| MDLZ Mondelez International Inc. Class A | 0.37% | 197,391 | $11.8M | Add +6.5% |
| MBB iShares MBS ETF | 0.35% | 121,291 | $11.1M | Add +14.1% |
| MDT Medtronic PLC | 0.34% | 136,536 | $10.9M | Reduce -1.0% |
| QCOM Qualcomm Inc. | 0.34% | 70,852 | $10.9M | Reduce -0.3% |
| VZ Verizon Communications Inc. | 0.34% | 271,249 | $10.8M | Reduce -2.5% |
| COP Conocophillips | 0.33% | 107,029 | $10.6M | Add +1.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.33% | 87,715 | $10.6M | Add +0.1% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.32% | 9,713 | $10.2M | Reduce -2.2% |
| EW Edwards Lifesciences Corp. | 0.31% | 134,341 | $9.9M | Add +21.1% |
| ITW Illinois Tool Works | 0.31% | 38,933 | $9.9M | Reduce -0.1% |
| CAT Caterpillar Inc. | 0.30% | 26,806 | $9.7M | Reduce -0.7% |
| NUE Nucor Corp. | 0.29% | 80,535 | $9.4M | Add +1.3% |
| GNMA iShares Gnma Bond ETF | 0.29% | 217,347 | $9.3M | Add +18.6% |
| DAL Delta Air Lines Inc. | 0.29% | 153,915 | $9.3M | Reduce -3.4% |
| ITT Itt Inc. | 0.28% | 63,388 | $9.1M | Add +3.0% |
| NVDA Nvidia Corp. | 0.28% | 66,488 | $8.9M | Reduce -9.8% |
| DHR Danaher Corp. | 0.28% | 38,494 | $8.8M | Reduce -0.8% |
| ATR Aptargroup Inc. | 0.27% | 55,419 | $8.7M | Reduce -0.8% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $31K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 1,112 | $31K | Reduce -1.0% |
Total filed on the 13F, all lines: $3.2B.
Portfolio Sells Q3 2024 → Q4 2024
| AMD Advanced Micro Devices | Reduce -0.9% | 0.77% | −0.28 |
| CVS CVS Health Corp. | Reduce -3.7% | 0.37% | −0.17 |
| UNH Unitedhealth Group Inc. | Reduce -0.1% | 0.98% | −0.14 |
| LOW Lowe's Cos Inc. | Reduce -1.2% | 1.02% | −0.10 |
| XOM Exxon Mobil Corp. | Reduce -2.8% | 0.91% | −0.10 |
| PEP Pepsico Inc. | Reduce -0.8% | 0.82% | −0.10 |
| JNJ Johnson & Johnson | Reduce -0.3% | 0.73% | −0.08 |
| TXN Texas Instruments Inc. | Reduce -1.3% | 0.62% | −0.07 |
| AME Ametek Inc. | Reduce -26.6% | 0.23% | −0.07 |
| LIN Linde PLC | Reduce -0.3% | 0.44% | −0.06 |
| UNP Union Pacific Corp. | Reduce -2.0% | 0.62% | −0.06 |
| DHR Danaher Corp. | Reduce -0.8% | 0.28% | −0.06 |
| ABBV Abbvie Inc. | Reduce -0.8% | 0.50% | −0.06 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -3.9% | 1.07% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -2.5% | 0.34% | −0.05 |
| TGT Target Corp. | Reduce -4.2% | 0.24% | −0.05 |
| MDT Medtronic PLC | Reduce -1.0% | 0.34% | −0.04 |
| HD Home Depot Inc. | Reduce -5.8% | 0.42% | −0.04 |
| AFL Aflac Inc. | Reduce -0.7% | 0.49% | −0.04 |
| KO The Coca-Cola Co. | Reduce -1.7% | 0.22% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -0.3% | 0.34% | −0.03 |
| GPC Genuine Parts Co. | Reduce -3.2% | 0.15% | −0.03 |
| DOW Dow Inc. | Reduce -3.1% | 0.08% | −0.03 |
| MCD McDonald's Corp. | Reduce -0.4% | 0.65% | −0.03 |
| SBUX Starbucks Corp. | Reduce -1.3% | 0.39% | −0.03 |
| GIS General Mills Inc. | Reduce -2.8% | 0.15% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.1% | 1.43% | −0.03 |
| NVS Novartis AG-Sponsored ADR | Reduce -1.0% | 0.14% | −0.03 |
| PSX Phillips 66 | Reduce -3.0% | 0.14% | −0.02 |
| ATI Ati Inc. | Reduce -3.5% | 0.10% | −0.02 |
| CAT Caterpillar Inc. | Reduce -0.7% | 0.30% | −0.02 |
| HII Huntington Ingalls Industrie | Reduce -0.8% | 0.05% | −0.02 |
| CE Celanese Corp. | Reduce -13.2% | 0.02% | −0.02 |
| PFE Pfizer Inc. | Reduce -3.5% | 0.17% | −0.02 |
| PII Polaris Inc. | Reduce -37.5% | 0.02% | −0.02 |
| RTX RTX Corp. | Reduce -0.2% | 0.43% | −0.02 |
| APD Air Products & Chemicals Inc. | Reduce -0.5% | 0.65% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -1.4% | 0.10% | −0.02 |
| OXY Occidental Petroleum Corp. | Reduce -0.3% | 0.38% | −0.01 |
| DOV Dover Corp. | Reduce -1.2% | 0.53% | −0.01 |
| KHC The Kraft Heinz Co. | Reduce -0.1% | 0.10% | −0.01 |
| UPS United Parcel Service Class B | Reduce -3.8% | 0.11% | −0.01 |
| CARR Carrier Global Corp. | Reduce -2.4% | 0.06% | −0.01 |
| EXPD Expeditors Intl Wash Inc. | Reduce -17.5% | 0.03% | −0.01 |
| EFA iShares MSCI Eafe ETF | Reduce -1.1% | 0.11% | −0.01 |
| WM Waste Management Inc. | Reduce -0.3% | 0.46% | −0.01 |
| INTC Intel Corp. | Reduce -5.2% | 0.05% | −0.01 |
| BKH Black Hills Corp. | Reduce -5.8% | 0.10% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -0.2% | 0.11% | −0.01 |
| SYY Sysco Corp. | Reduce -0.7% | 0.46% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| AVGO Broadcom Inc. | Add +2.9% | 1.77% | +0.50 |
| BND Vanguard Total Bond Market | Add +18.2% | 1.68% | +0.21 |
| JPM JPMorgan Chase & Co. | Add +3.3% | 1.29% | +0.20 |
| AMZN Amazon.com Inc. | Add +3.7% | 0.91% | +0.17 |
| GOOGL Alphabet Inc. Class A | Add +1.3% | 0.99% | +0.14 |
| JCI Johnson Controls Internation | Add +11012.4% | 0.14% | +0.14 |
| V Visa Inc. Class A | Add +2.2% | 0.73% | +0.11 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.11% | +0.11 |
| WCC Wesco International Inc. | Add +0.4% | 1.11% | +0.09 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.7% | 0.54% | +0.09 |
| EW Edwards Lifesciences Corp. | Add +21.1% | 0.31% | +0.08 |
| DIS The Walt Disney Co. | Add +0.1% | 0.55% | +0.08 |
| CSCO Cisco Systems Inc. | Add +0.1% | 0.59% | +0.06 |
| SLQD iShares 0-5 YR Inv GRD Corp. | Add +3.6% | 1.64% | +0.05 |
| HON Honeywell International Inc. | Add +0.0% | 0.51% | +0.05 |
| AGG iShares Core U.S. Aggregate | Add +26.1% | 0.23% | +0.04 |
| PANW Palo Alto Networks Inc. | Add +1.7% | 0.47% | +0.04 |
| IJR iShares Core S&P Small-Cap E | Add +1.8% | 3.62% | +0.04 |
| GNMA iShares Gnma Bond ETF | Add +18.6% | 0.29% | +0.04 |
| EVRG Evergy Inc. | Add +134.7% | 0.06% | +0.04 |
| INGR Ingredion Inc. | Add +145.5% | 0.06% | +0.04 |
| MET Metlife Inc. | Add +7.0% | 0.54% | +0.04 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +10.5% | 0.42% | +0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +7.4% | 0.58% | +0.03 |
| IJH iShares Core S&P Midcap ETF | Add +0.4% | 3.00% | +0.03 |
| C Citigroup Inc. | Add +7.3% | 0.19% | +0.03 |
| MBB iShares MBS ETF | Add +14.1% | 0.35% | +0.03 |
| USB US Bancorp | Add +2.8% | 0.38% | +0.03 |
| TJX TJX Companies Inc. | Add +0.1% | 0.33% | +0.01 |
| MUB iShares National Muni Bond E | Add +24890.9% | 0.01% | +0.01 |
| BA The Boeing Co. | Add +0.6% | 0.06% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.1% | 0.24% | +0.01 |
| IWR iShares Russell Mid-Cap ETF | Add +4.7% | 0.12% | +0.01 |
| SFNC Simmons First Natl Corp. Class A | Add +249.7% | 0.01% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +134.0% | 0.01% | +0.00 |
| IWF iShares Russell 1000 Growth | Add +3.7% | 0.04% | +0.00 |
| GRMN Garmin Ltd. | Add +2.5% | 0.02% | +0.00 |
| SHM SS SPDR N Ice St Muni ETF | Add +7468.8% | 0.00% | +0.00 |
| META Meta Platforms Inc. Class A | Add +5.3% | 0.04% | +0.00 |
| IWD iShares Russell 1000 Value E | Add +8.4% | 0.04% | +0.00 |
| FLEX Flex Ltd. | Add +0.8% | 0.02% | +0.00 |
| FVD First Trust Value Line DVD | New | 0.00% | +0.00 |
| ETN Eaton Corp. PLC | Add +5.5% | 0.04% | +0.00 |
| BUFR FT Vest Lad Buffervetf-Usd I | New | 0.00% | +0.00 |
| ITOT iShares Core S&P Total U.S. | Add +0.3% | 0.07% | +0.00 |
| BX Blackstone Inc. | Add +2.3% | 0.02% | +0.00 |
| COWZ Pacer US Cash Cows 100 ETF | Add +851.3% | 0.00% | +0.00 |
| LMBS First Trust Low Duration Opp | New | 0.00% | +0.00 |
| ARCC Ares Capital Corp. | Add +200.0% | 0.00% | +0.00 |
| MFC Manulife Financial Corp. | Add +7.1% | 0.01% | +0.00 |
Notes & Other Activity Q3 2024 → Q4 2024
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Reduce -1.0% | 1,112 | $31K |
| GABELLI UTILITY TRUST/THE | RIGHT 10/21/2024 | Sold out | 5,885 | $162before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,758 | $4.1B | IVV, VEA, IJR, NNI, IJH |
| Q1 2026 | 1,758 | $3.6B | IVV, VEA, NNI, IJR, IJH |
| Q4 2025 | 1,719 | $3.6B | IVV, VEA, NNI, IJR, MSFT |
| Q3 2025 | 1,736 | $3.5B | IVV, VEA, NNI, IJR, MSFT |
| Q2 2025 | 1,728 | $3.4B | IVV, VEA, NNI, MSFT, IJR |
| Q1 2025 | 1,746 | $3.1B | IVV, VEA, NNI, IJR, MSFT |
| Q4 2024 | 1,773 | $3.2B | IVV, VEA, NNI, MSFT, IJR |
| Q3 2024 | 1,791 | $3.2B | IVV, VEA, NNI, MSFT, IJR |
| Q2 2024 | 1,776 | $3.0B | IVV, VEA, MSFT, NNI, IJR |
| Q1 2024 | 1,739 | $3.0B | IVV, VEA, NNI, MSFT, IJR |