Farmers & Merchants Investments Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 16, 2025), Farmers & Merchants Investments Inc. reported 1,746 stock positions worth $3.1 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 6.9% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 4.9%) and Nelnet Class A (NNI, 4.2%). Compared with Q4 2024, it opened 31 new positions, sold out of 58, added to 470 and reduced 267. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +2%) and the biggest sale Broadcom (AVGO, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- LINCOLN, NE
- CIK
- 0001259969
- Portfolio Value
- $3.1B (Q1 2025)
- SEC Filing
- 0001140361-25-014113 ↗ filed Apr 16, 2025
Holdings Value
Holdings 1,746 stocks · $3.1B
| IVV iShares Core S&P 500 ETF | 6.86% | 384,487 | $216.0M | Add +1.1% |
| VEA Vanguard Ftse Developed ETF | 4.95% | 3,064,792 | $155.8M | Add +1.9% |
| NNI Nelnet Inc. Class A | 4.25% | 1,204,798 | $133.6M | Add +1.4% |
| IJR iShares Core S&P Small-Cap E | 3.45% | 1,037,914 | $108.5M | Add +3.7% |
| MSFT Microsoft Corp. | 3.26% | 272,979 | $102.5M | Reduce -1.0% |
| AAPL Apple Inc. | 3.18% | 451,282 | $100.2M | Reduce -1.2% |
| IJH iShares Core S&P Midcap ETF | 2.96% | 1,595,279 | $93.1M | Add +4.0% |
| VWO Vanguard Ftse Emerging Marke | 2.30% | 1,601,384 | $72.5M | Add +2.8% |
| BND Vanguard Total Bond Market | 1.73% | 740,363 | $54.4M | Reduce -0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.69% | 99,890 | $53.2M | Reduce -1.0% |
| SLQD iShares 0-5 YR Inv GRD Corp. | 1.65% | 1,031,220 | $51.8M | Reduce -1.7% |
| WMT Walmart Inc. | 1.28% | 460,356 | $40.4M | Reduce -3.1% |
| JPM JPMorgan Chase & Co. | 1.28% | 164,365 | $40.3M | Reduce -4.4% |
| AVGO Broadcom Inc. | 1.27% | 239,500 | $40.1M | Reduce -1.7% |
| LLY Eli Lilly & Co. | 1.24% | 47,223 | $39.0M | Reduce -2.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.17% | 46 | $36.7M | Reduce -8.0% |
| ORCL Oracle Corp. | 1.03% | 230,996 | $32.3M | Add +1.4% |
| UNH Unitedhealth Group Inc. | 1.02% | 61,438 | $32.2M | Reduce -0.9% |
| XOM Exxon Mobil Corp. | 1.02% | 269,824 | $32.1M | Add +0.5% |
| LOW Lowe's Cos Inc. | 0.95% | 128,795 | $30.0M | Reduce -2.5% |
| WCC Wesco International Inc. | 0.94% | 189,911 | $29.5M | Reduce -3.0% |
| GOOGL Alphabet Inc. Class A | 0.88% | 178,351 | $27.6M | Add +6.9% |
| JNJ Johnson & Johnson | 0.86% | 162,381 | $26.9M | Add +0.3% |
| V Visa Inc. Class A | 0.83% | 74,530 | $26.1M | Add +0.7% |
| PEP Pepsico Inc. | 0.83% | 173,645 | $26.0M | Add +0.5% |
| AMZN Amazon.com Inc. | 0.82% | 135,650 | $25.8M | Add +3.0% |
| APH Amphenol Corp. Class A | 0.82% | 392,031 | $25.7M | Reduce -5.2% |
| PG The Procter & Gamble Co. | 0.78% | 144,664 | $24.7M | Reduce -1.8% |
| ROP Roper Technologies Inc. | 0.77% | 41,284 | $24.3M | Reduce -0.3% |
| ABT Abbott Laboratories | 0.76% | 179,412 | $23.8M | Reduce -1.7% |
| GOOG Alphabet Inc. Class C | 0.72% | 144,273 | $22.5M | Add +0.4% |
| MCD McDonald's Corp. | 0.72% | 72,072 | $22.5M | Add +0.9% |
| APD Air Products & Chemicals Inc. | 0.68% | 72,925 | $21.5M | Add +1.3% |
| AMD Advanced Micro Devices | 0.67% | 204,793 | $21.0M | Add +0.1% |
| EMR Emerson Electric Co. | 0.66% | 189,600 | $20.8M | Reduce -0.8% |
| UNP Union Pacific Corp. | 0.65% | 86,734 | $20.5M | Reduce -0.7% |
| CVX Chevron Corp. | 0.64% | 119,633 | $20.0M | Add +0.5% |
| CSCO Cisco Systems Inc. | 0.62% | 315,659 | $19.5M | Reduce -0.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.60% | 238,138 | $18.8M | Add +0.9% |
| TXN Texas Instruments Inc. | 0.59% | 103,890 | $18.7M | Reduce -2.2% |
| ABBV Abbvie Inc. | 0.59% | 88,781 | $18.6M | Reduce -1.7% |
| FISV Fiserv Inc. | 0.57% | 81,253 | $17.9M | Reduce -1.5% |
| CVS CVS Health Corp. | 0.56% | 262,344 | $17.8M | Reduce -1.5% |
| VOO Vanguard S&P 500 ETF | 0.55% | 33,936 | $17.4M | Reduce -1.1% |
| GS Goldman Sachs Group Inc. | 0.54% | 31,193 | $17.0M | Add +0.1% |
| MET Metlife Inc. | 0.53% | 209,726 | $16.8M | Add +0.4% |
| NVDA Nvidia Corp. | 0.53% | 155,294 | $16.8M | Add +133.6% |
| WM Waste Management Inc. | 0.53% | 72,292 | $16.7M | Reduce -1.1% |
| VTIP Vanguard Short-Term Tips | 0.53% | 333,386 | $16.6M | Reduce -0.4% |
| SYK Stryker Corp. | 0.52% | 44,354 | $16.5M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 0.52% | 17,264 | $16.3M | Add +1.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.52% | 390,356 | $16.3M | Reduce -0.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.51% | 96,489 | $16.0M | Add +11.0% |
| AFL Aflac Inc. | 0.50% | 142,923 | $15.9M | Reduce -5.6% |
| COF Capital One Financial Corp. | 0.50% | 88,175 | $15.8M | Reduce -1.0% |
| BSV Vanguard Short-Term Bond ETF | 0.50% | 201,586 | $15.8M | Reduce -0.1% |
| LIN Linde PLC | 0.49% | 33,367 | $15.5M | Reduce -1.2% |
| DOV Dover Corp. | 0.49% | 88,405 | $15.5M | Reduce -1.3% |
| PANW Palo Alto Networks Inc. | 0.49% | 90,524 | $15.4M | Add +10.8% |
| AMP Ameriprise Financial Inc. | 0.49% | 31,742 | $15.4M | Reduce -1.4% |
| RTX RTX Corp. | 0.49% | 115,936 | $15.4M | Reduce -1.7% |
| CMCSA Comcast Corp. Class A | 0.49% | 415,735 | $15.3M | Add +0.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.49% | 155,348 | $15.3M | Reduce -1.9% |
| ICLR Icon PLC | 0.47% | 85,392 | $14.9M | Add +2.3% |
| ADP Automatic Data Processing | 0.47% | 48,542 | $14.8M | Reduce -2.8% |
| IWM iShares Russell 2000 ETF | 0.47% | 73,642 | $14.7M | Reduce -0.1% |
| SYY Sysco Corp. | 0.44% | 184,759 | $13.9M | Reduce -3.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.43% | 171,586 | $13.5M | Add +0.4% |
| MDLZ Mondelez International Inc. Class A | 0.43% | 198,343 | $13.5M | Add +0.5% |
| SBUX Starbucks Corp. | 0.42% | 136,366 | $13.4M | Reduce -0.3% |
| ENB Enbridge Inc. | 0.42% | 300,359 | $13.3M | Reduce -3.2% |
| NKE Nike Inc. Class B | 0.41% | 203,542 | $12.9M | Add +3.5% |
| WFC Wells Fargo & Co. | 0.41% | 179,541 | $12.9M | Reduce -6.9% |
| VZ Verizon Communications Inc. | 0.41% | 283,854 | $12.9M | Add +4.7% |
| HON Honeywell International Inc. | 0.40% | 58,737 | $12.4M | Reduce -18.3% |
| MBB iShares MBS ETF | 0.39% | 130,962 | $12.3M | Add +8.0% |
| BLK BlackRock Inc. | 0.39% | 12,967 | $12.3M | Add +0.4% |
| MDT Medtronic PLC | 0.39% | 136,078 | $12.2M | Reduce -0.3% |
| MRK Merck & Co. Inc. | 0.39% | 135,781 | $12.2M | Add +1.5% |
| OXY Occidental Petroleum Corp. | 0.39% | 246,386 | $12.2M | Reduce 0.0% |
| HD Home Depot Inc. | 0.38% | 32,521 | $11.9M | Reduce -5.1% |
| USB US Bancorp | 0.36% | 265,368 | $11.2M | Add +5.5% |
| COP Conocophillips | 0.35% | 105,114 | $11.0M | Reduce -1.8% |
| IWP iShares Russell Mid-Cap Grow | 0.35% | 93,748 | $11.0M | Add +0.0% |
| ROST Ross Stores Inc. | 0.35% | 85,707 | $11.0M | Reduce -1.1% |
| BAH Booz Allen Hamilton Holdings | 0.35% | 104,597 | $10.9M | Add +68.4% |
| QCOM Qualcomm Inc. | 0.35% | 70,794 | $10.9M | Reduce -0.1% |
| IVW iShares S&P 500 Growth ETF | 0.34% | 116,810 | $10.8M | Reduce -0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.33% | 86,552 | $10.5M | Reduce -1.3% |
| GNMA iShares Gnma Bond ETF | 0.33% | 240,127 | $10.5M | Add +10.5% |
| PYPL PayPal Holdings Inc. | 0.33% | 161,087 | $10.5M | Reduce -1.3% |
| EW Edwards Lifesciences Corp. | 0.32% | 137,553 | $10.0M | Add +2.4% |
| NUE Nucor Corp. | 0.31% | 80,535 | $9.7M | No change |
| ATR Aptargroup Inc. | 0.30% | 63,222 | $9.4M | Add +14.1% |
| DELL Dell Technologies -C | 0.30% | 102,885 | $9.4M | No change |
| NEE Nextera Energy Inc. | 0.29% | 130,635 | $9.3M | Add +8.2% |
| ITW Illinois Tool Works | 0.29% | 37,220 | $9.2M | Reduce -4.4% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.29% | 9,265 | $9.2M | Reduce -4.6% |
| ASML ASML Holding NV-NY Reg SHS | 0.28% | 13,482 | $8.9M | Add +168.0% |
| CAT Caterpillar Inc. | 0.28% | 26,463 | $8.7M | Reduce -1.3% |
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 | No change |
Total filed on the 13F, all lines: $3.1B.
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -1.7% | 1.27% | −0.50 |
| AAPL Apple Inc. | Reduce -1.2% | 3.18% | −0.40 |
| MSFT Microsoft Corp. | Reduce -1.0% | 3.26% | −0.39 |
| WCC Wesco International Inc. | Reduce -3.0% | 0.94% | −0.17 |
| HON Honeywell International Inc. | Reduce -18.3% | 0.40% | −0.11 |
| DAL Delta Air Lines Inc. | Reduce -14.0% | 0.18% | −0.11 |
| PYPL PayPal Holdings Inc. | Reduce -1.3% | 0.33% | −0.10 |
| APH Amphenol Corp. Class A | Reduce -5.2% | 0.82% | −0.08 |
| EMR Emerson Electric Co. | Reduce -0.8% | 0.66% | −0.08 |
| FSS Federal Signal Corp. | Reduce -99.8% | 0.00% | −0.07 |
| LOW Lowe's Cos Inc. | Reduce -2.5% | 0.95% | −0.07 |
| DIS The Walt Disney Co. | Reduce -1.9% | 0.49% | −0.07 |
| ROST Ross Stores Inc. | Reduce -1.1% | 0.35% | −0.06 |
| WMT Walmart Inc. | Reduce -3.1% | 1.28% | −0.06 |
| AMP Ameriprise Financial Inc. | Reduce -1.4% | 0.49% | −0.05 |
| IWM iShares Russell 2000 ETF | Reduce -0.1% | 0.47% | −0.04 |
| HD Home Depot Inc. | Reduce -5.1% | 0.38% | −0.04 |
| DOV Dover Corp. | Reduce -1.3% | 0.49% | −0.03 |
| AME Ametek Inc. | Reduce -11.5% | 0.20% | −0.03 |
| TXN Texas Instruments Inc. | Reduce -2.2% | 0.59% | −0.03 |
| TROW T Rowe Price Group Inc. | Reduce -10.4% | 0.09% | −0.03 |
| GWW WW Grainger Inc. | Reduce -4.6% | 0.29% | −0.03 |
| ROK Rockwell Automation Inc. | Reduce -12.3% | 0.12% | −0.03 |
| IVW iShares S&P 500 Growth ETF | Reduce -0.3% | 0.34% | −0.03 |
| CAT Caterpillar Inc. | Reduce -1.3% | 0.28% | −0.03 |
| VOO Vanguard S&P 500 ETF | Reduce -1.1% | 0.55% | −0.03 |
| BAC Bank of America Corp. | Reduce -0.9% | 0.52% | −0.03 |
| ITT Itt Inc. | Reduce -0.3% | 0.26% | −0.02 |
| CARR Carrier Global Corp. | Reduce -29.8% | 0.04% | −0.02 |
| SAFE Safehold Inc. | Reduce -34.6% | 0.04% | −0.02 |
| ALB Albemarle Corp. | Reduce -2.9% | 0.09% | −0.02 |
| SYY Sysco Corp. | Reduce -3.2% | 0.44% | −0.02 |
| GIS General Mills Inc. | Reduce -6.2% | 0.14% | −0.02 |
| UPS United Parcel Service Class B | Reduce -3.7% | 0.10% | −0.02 |
| ITW Illinois Tool Works | Reduce -4.4% | 0.29% | −0.02 |
| HBI Hanesbrands Inc. | Reduce -23.7% | 0.02% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -6.9% | 0.41% | −0.02 |
| SAIC Science Applications Inte | Reduce -49.5% | 0.01% | −0.01 |
| DOW Dow Inc. | Reduce -4.6% | 0.07% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -8.8% | 0.16% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -4.4% | 1.28% | −0.01 |
| SWK Stanley Black & Decker Inc. | Reduce -69.1% | 0.00% | −0.01 |
| DGRW Wisdomtree U.S. Quality Divi | Sold out | 0.00% | −0.01 |
| PFE Pfizer Inc. | Reduce -2.6% | 0.16% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.7% | 0.11% | −0.01 |
| CMI Cummins Inc. | Reduce -19.5% | 0.02% | −0.01 |
| IWF iShares Russell 1000 Growth | Reduce -13.1% | 0.03% | −0.01 |
| PII Polaris Inc. | Reduce -32.6% | 0.01% | −0.01 |
| BKH Black Hills Corp. | Reduce -11.7% | 0.10% | −0.01 |
| VKTX Viking Therapeutics Inc. | Reduce -7.5% | 0.01% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| VEA Vanguard Ftse Developed ETF | Add +1.9% | 4.95% | +0.44 |
| NNI Nelnet Inc. Class A | Add +1.4% | 4.25% | +0.27 |
| NVDA Nvidia Corp. | Add +133.6% | 0.53% | +0.25 |
| UBER Uber Technologies Inc. | Add +3515.4% | 0.24% | +0.23 |
| ASML ASML Holding NV-NY Reg SHS | Add +168.0% | 0.28% | +0.17 |
| VWO Vanguard Ftse Emerging Marke | Add +2.8% | 2.30% | +0.15 |
| JNJ Johnson & Johnson | Add +0.3% | 0.86% | +0.12 |
| XOM Exxon Mobil Corp. | Add +0.5% | 1.02% | +0.11 |
| BAH Booz Allen Hamilton Holdings | Add +68.4% | 0.35% | +0.10 |
| V Visa Inc. Class A | Add +0.7% | 0.83% | +0.10 |
| CVX Chevron Corp. | Add +0.5% | 0.64% | +0.10 |
| TSLA Tesla Inc. | Add +346.3% | 0.12% | +0.08 |
| VZ Verizon Communications Inc. | Add +4.7% | 0.41% | +0.07 |
| MCD McDonald's Corp. | Add +0.9% | 0.72% | +0.07 |
| MDLZ Mondelez International Inc. Class A | Add +0.5% | 0.43% | +0.06 |
| GNMA iShares Gnma Bond ETF | Add +10.5% | 0.33% | +0.04 |
| MBB iShares MBS ETF | Add +8.0% | 0.39% | +0.04 |
| DUK Duke Energy Corp. | Add +1.8% | 0.26% | +0.04 |
| COST Costco Wholesale Corp. | Add +1.9% | 0.52% | +0.03 |
| IBM Intl Business Machines Corp. | Add +0.6% | 0.24% | +0.03 |
| APD Air Products & Chemicals Inc. | Add +1.3% | 0.68% | +0.03 |
| KMB Kimberly-Clark Corp. | Add +4.7% | 0.21% | +0.03 |
| O Realty Income Corp. | Add +2.7% | 0.23% | +0.03 |
| ATR Aptargroup Inc. | Add +14.1% | 0.30% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +10.8% | 0.49% | +0.02 |
| NEE Nextera Energy Inc. | Add +8.2% | 0.29% | +0.02 |
| JCI Johnson Controls Internation | Add +11.9% | 0.16% | +0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +0.9% | 0.60% | +0.02 |
| EVRG Evergy Inc. | Add +12.6% | 0.08% | +0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +108.0% | 0.02% | +0.01 |
| C Citigroup Inc. | Add +3.3% | 0.20% | +0.01 |
| NFLX Netflix Inc. | Add +0.5% | 0.17% | +0.01 |
| INGR Ingredion Inc. | Add +17.1% | 0.07% | +0.01 |
| BAX Baxter International Inc. | Add +90.5% | 0.02% | +0.01 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +0.4% | 0.43% | +0.01 |
| HII Huntington Ingalls Industrie | Add +4.3% | 0.06% | +0.01 |
| GE General Electric | Add +0.3% | 0.04% | +0.01 |
| WELL Welltower Inc. | Add +0.3% | 0.03% | +0.01 |
| MA Mastercard Inc. Class A | Add +0.2% | 0.11% | +0.01 |
| GLD SPDR Gold Shares | Add +1.0% | 0.03% | +0.01 |
| EW Edwards Lifesciences Corp. | Add +2.4% | 0.32% | +0.01 |
| SHEL Shell PLC-ADR | Add +2.5% | 0.02% | +0.00 |
| PEP Pepsico Inc. | Add +0.5% | 0.83% | +0.00 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +9.2% | 0.03% | +0.00 |
| BNY Bank of New York Mellon Corp. | Add +4.1% | 0.01% | +0.00 |
| EUFN iShares MSCI Europe Financia | New | 0.00% | +0.00 |
| APO Apollo Global Management Inc. | New | 0.00% | +0.00 |
| UL Unilever PLC | Add +3.4% | 0.01% | +0.00 |
| WDAY Workday Inc. Class A | New | 0.00% | +0.00 |
| AXP American Express Co. | Add +19.0% | 0.01% | +0.00 |
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 |