FARMERS & MERCHANTS INVESTMENTS INC

CIK

1259969

Location

LINCOLN, NE

Portfolio Value

Mid $2,710,571,517

Diversification

Diversified

Filing Date

Global Rank

#294 / 4,286 ▲ 721

Top Industry

Semiconductors 12.0%

3Y Alpha vs SPY

-2.9%

Period ended 38 days ago

Filed Jul 20, 2026 · 18d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+64.3%

SPY

+77.3%

Annualised alpha

-3.0%

Max drawdown

−16.4%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

1,556 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

5.8%

−0.5 pts

Top 5

21.5%

−1.0 pts

Top 10

32.6%

−0.6 pts

HHI

174

Diversified−5

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	32.2%	$873,189,880	227
Financial Services	17.8%	$482,864,370	253
Industrials	12.0%	$325,394,175	243
Healthcare	11.3%	$307,248,193	171
Consumer Cyclical	6.2%	$169,251,737	199
Consumer Defensive	6.1%	$166,269,636	79
Communication Services	4.3%	$115,538,020	41
Energy	4.1%	$110,371,877	84
Basic Materials	2.6%	$69,154,516	74
Utilities	1.8%	$49,552,568	58
Real Estate	0.9%	$23,830,295	117
Unclassified	0.7%	$17,906,250	10

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NRC	Nrc Health	+330,549	330,649	$7,132,098
SFM	Sprouts Farmers Market, Inc.	+49,339	49,427	$4,180,535
NJR	New Jersey Resources Corp	+47,170	47,255	$2,648,170
CPAY	Corpay, Inc.	+22,016	22,067	$7,354,269
CRM	Salesforce, Inc.	+19,528	100,581	$15,757,019
NVDA	Nvidia Corp	+13,817	199,159	$39,849,724
MSFT	Microsoft Corp	+9,451	282,623	$105,424,031
AMZN	Amazon Com Inc	+8,809	171,378	$40,846,232
UBER	Uber Technologies, Inc	+8,262	112,259	$8,100,609
BAC	Bank Of America Corp /De/	+7,043	414,377	$23,611,201
AAPL	Apple Inc.	+6,997	447,308	$129,433,042
VZ	Verizon Communications Inc	+6,771	284,410	$12,041,919
PANW	Palo Alto Networks Inc	+6,192	101,488	$34,609,437
ENB	Enbridge Inc	+5,854	292,885	$15,877,295
EW	Edwards Lifesciences Corp	+5,825	133,747	$12,098,753
ABT	Abbott Laboratories	+5,167	182,692	$16,577,472
D	Dominion Energy, Inc	+4,967	19,478	$1,330,152
FTS	Fortis Inc.	+4,892	100,834	$5,770,729
O	Realty Income Corp	+4,423	117,544	$7,283,026
APH	Amphenol Corp /De/	+4,217	369,201	$65,097,520
ABBV	AbbVie Inc.	+3,498	85,666	$21,556,992
LOW	Lowes Companies Inc	+3,352	129,937	$28,649,809
ATR	Aptargroup, Inc.	+3,003	69,985	$8,762,122
XOM	ExxonMobil Holdings Corp	+2,990	270,273	$36,951,724
BKNG	Booking Holdings Inc.	+2,798	2,915	$519,569
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
GOOGL	Alphabet Inc.	−145,980	183,721	$65,656,373
PYPL	PayPal Holdings, Inc.	−74,830	77,634	$3,352,236
KHC	Kraft Heinz Co	−53,980	38,679	$913,597
HON	Honeywell International Inc	−25,029	24,667	$5,522,941
CMCSA	Comcast Corp	−21,513	172,743	$4,240,840
WMT	Walmart Inc.	−13,370	405,094	$45,880,946
INGR	Ingredion Inc	−10,922	4,621	$437,654
AVGO	Broadcom Inc.	−7,703	205,311	$77,556,230
GIS	General Mills Inc	−7,106	50,256	$1,748,908
DAL	Delta Air Lines, Inc.	−5,161	44,591	$4,176,393
NNI	Nelnet Inc	−5,000	1,179,351	$157,242,868
OXY	Occidental Petroleum Corp /De/	−4,363	227,248	$11,037,435
T	At&T Inc.	−4,000	56,967	$1,179,216
USB	US Bancorp De	−3,800	275,473	$16,638,569
ATI	Ati Inc	−3,720	31,003	$6,110,691
WFC	Wells Fargo & Company/Mn	−3,681	146,477	$12,104,859
CSCO	Cisco Systems, Inc.	−3,483	301,674	$35,434,628
TTE	TotalEnergies SE	−3,047	3,709	$288,411
ZTS	Zoetis Inc.	−2,910	20,451	$1,469,608
BAH	Booz Allen Hamilton Holding Corp	−2,757	96,407	$5,849,012
VSNT	Versant Media Group, Inc.	−2,174	3,518	$126,683
NUE	Nucor Corp	−2,053	71,960	$16,029,090
ROST	Ross Stores, Inc.	−2,003	75,872	$16,149,355
MDT	Medtronic plc	−1,829	133,089	$10,411,552
FTV	Fortive Corp	−1,757	39,161	$2,392,345
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
HONA	Honeywell Aerospace Inc.	24,667	$5,446,473
FDXF	FedEx Freight Holding Company, Inc.	12,991	$1,961,641
MRVL	Marvell Technology, Inc.	441	$131,369
SPCX	Space Exploration Technologies Corp	200	$34,172
ELDN	Eledon Pharmaceuticals, Inc.	6,321	$24,904
SNDA	Sonida Senior Living, Inc.	452	$18,441
BE	Bloom Energy Corp	50	$15,135
ROKU	Roku, Inc	108	$14,919
CDE	Coeur Mining, Inc.	650	$10,608
VEEV	Veeva Systems Inc	33	$5,856
ATMU	Atmus Filtration Technologies Inc.	40	$2,039
LQDA	Liquidia Corp	25	$1,993
BFAM	Bright Horizons Family Solutions Inc.	27	$1,913
ALHC	Alignment Healthcare, Inc.	80	$1,904
LAZ	Lazard, Inc.	45	$1,887
BNL	Broadstone Net Lease, Inc.	90	$1,860
VGNT	Versigent PLC	43	$1,806
DAVE	Dave Inc./DE	4	$1,490
RSI	Rush Street Interactive, Inc.	50	$1,487
SPOT	Spotify Technology S.A.	3	$1,377
COCO	Vita Coco Company, Inc.	20	$1,322
CACC	Credit Acceptance Corp	2	$1,273
EBC	Eastern Bankshares, Inc.	55	$1,223
WRBY	Warby Parker Inc.	40	$1,213
WSBC	Wesbanco Inc	30	$1,170
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
HEI	Heico Corp	129	$27,230
AEM	Agnico Eagle Mines Ltd	100	$20,298
BF-A	Brown Forman Corp	494	$13,061
HMC	Honda Motor Co Ltd	434	$10,550
RKT	Rocket Companies, Inc.	418	$5,956
BOC	BOSTON OMAHA Corp	509	$5,945
EPAM	EPAM Systems, Inc.	37	$5,009
GPCR	Structure Therapeutics Inc.	100	$4,820
LBRDA	Liberty Broadband Corp	88	$4,426
SOFI	SoFi Technologies, Inc.	250	$3,970
BRBR	Bellring Brands, Inc.	113	$1,818
ZM	Zoom Communications, Inc.	10	$803
PRAA	Pra Group Inc	28	$490
IIIN	Insteel Industries Inc	13	$436
OXM	Oxford Industries Inc	10	$385
MNRO	Monro, Inc.	22	$352
ETD	Ethan Allen Interiors Inc	15	$333
FG	F&G Annuities & Life, Inc.	12	$303
FWRD	Forward Air Corp	15	$250
GDYN	Grid Dynamics Holdings, Inc.	35	$199
CABO	Cable One, Inc.	2	$182
DHC	Diversified Healthcare Trust	27	$179
GOGO	Gogo Inc.	40	$160
GRPN	Groupon, Inc.	12	$142
USNA	Usana Health Sciences Inc	8	$139
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1,556 tracked positions · $2,710,571,517 total · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 1,556 positions by value · page 1 of 32

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NNI	Nelnet Inc Financial Services	Reduced	1,179,351	-5,000	$157,242,868	+3.0%	5.80%
AAPL	Apple Inc. Technology	Added	447,308	+6,997	$129,433,042	+15.8%	4.78%
AMD	Advanced Micro Devices Inc Technology	Reduced	193,518	-781	$112,416,541	+184.4%	4.15%
MSFT	Microsoft Corp Technology	Added	282,623	+9,451	$105,424,031	+4.3%	3.89%
AVGO	Broadcom Inc. Technology	Reduced	205,311	-7,703	$77,556,230	+17.6%	2.86%
GOOGL	Alphabet Inc. Communication Services	Reduced	183,721	-145,980	$65,656,373	−30.7%	2.42%
APH	Amphenol Corp /De/ Technology	Added	369,201	+4,217	$65,097,520	+41.2%	2.40%
WCC	Wesco International Inc Industrials	Reduced	174,057	-1,540	$60,124,509	+25.1%	2.22%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	114,155	+2,569	$57,122,020	−29.3%	2.11%
LLY	ELI LILLY & Co Healthcare	Reduced	44,397	-610	$53,251,098	+28.6%	1.96%
JPM	Jpmorgan Chase & Co Financial Services	Added	153,996	+1,567	$50,407,510	+12.4%	1.86%
WMT	Walmart Inc. Consumer Defensive	Reduced	405,094	-13,370	$45,880,946	−11.8%	1.69%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	95,452	+2,076	$45,585,011	+44.5%	1.68%
DELL	Dell Technologies Inc. Technology	Reduced	98,373	-1,522	$42,444,014	+158.9%	1.57%
AMZN	Amazon Com Inc Consumer Cyclical	Added	171,378	+8,809	$40,846,232	+20.6%	1.51%
JNJ	Johnson & Johnson Healthcare	Added	159,376	+2,185	$40,476,722	+5.3%	1.49%
NVDA	Nvidia Corp Technology	Added	199,159	+13,817	$39,849,724	+23.3%	1.47%
XOM	ExxonMobil Holdings Corp Energy	Added	270,273	+2,990	$36,951,724	−18.5%	1.36%
CSCO	Cisco Systems, Inc. Technology	Reduced	301,674	-3,483	$35,434,628	+49.7%	1.31%
PANW	Palo Alto Networks Inc Technology	Added	101,488	+6,192	$34,609,437	+126.5%	1.28%
GS	Goldman Sachs Group Inc Financial Services	Added	32,556	+172	$32,926,161	+20.2%	1.21%
TXN	Texas Instruments Inc Technology	Added	104,902	+1,411	$31,268,139	+55.6%	1.15%
ORCL	Oracle Corp Technology	Added	211,699	+2,350	$31,024,488	+0.7%	1.14%
LOW	Lowes Companies Inc Consumer Cyclical	Added	129,937	+3,352	$28,649,809	−4.2%	1.06%
CVS	CVS HEALTH Corp Healthcare	Added	262,608	+1,955	$27,166,797	+45.1%	1.00%
CAT	Caterpillar Inc Industrials	Reduced	25,053	-644	$26,678,939	+46.5%	0.98%
EMR	Emerson Electric Co Industrials	Added	185,400	+1,829	$26,540,010	+10.3%	0.98%
UNH	Unitedhealth Group Inc Healthcare	Added	63,018	+448	$26,192,171	+54.7%	0.97%
ASML	Asml Holding NV Technology	Added	12,630	+274	$25,126,625	+54.0%	0.93%
BAC	Bank Of America Corp /De/ Financial Services	Added	414,377	+7,043	$23,611,201	+18.9%	0.87%
PEP	Pepsico Inc Consumer Defensive	Added	172,175	+2,773	$23,312,495	−11.4%	0.86%
V	Visa Inc. Financial Services	Reduced	67,906	-188	$23,297,869	+13.2%	0.86%
UNP	Union Pacific Corp Industrials	Reduced	82,218	-78	$22,363,296	+12.0%	0.83%
RTX	RTX Corp Industrials	Reduced	114,759	-120	$21,773,225	−1.7%	0.80%
ABBV	AbbVie Inc. Healthcare	Added	85,666	+3,498	$21,556,992	+20.6%	0.80%
APD	Air Products & Chemicals, Inc. Basic Materials	Added	70,728	+495	$20,736,035	+1.6%	0.77%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	136,436	+1,090	$20,006,975	+2.3%	0.74%
MCD	Mcdonalds Corp Consumer Cyclical	Added	68,407	+1,158	$18,491,096	−11.5%	0.68%
DOV	DOVER Corp Industrials	Reduced	81,499	-672	$18,278,595	+6.7%	0.67%
CVX	Chevron Corp Energy	Added	110,157	+445	$18,259,624	−19.6%	0.67%
COF	Capital One Financial Corp Financial Services	Added	88,390	+2,212	$17,732,801	+12.8%	0.65%
MET	Metlife Inc Financial Services	Added	198,029	+499	$16,755,233	+19.9%	0.62%
USB	US Bancorp De Financial Services	Reduced	275,473	-3,800	$16,638,569	+14.6%	0.61%
ABT	Abbott Laboratories Healthcare	Added	182,692	+5,167	$16,577,472	−9.0%	0.61%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	17,524	+61	$16,393,176	−5.8%	0.60%
LIN	Linde PLC Basic Materials	Reduced	31,198	-289	$16,189,890	+3.7%	0.60%
ROST	Ross Stores, Inc. Consumer Cyclical	Reduced	75,872	-2,003	$16,149,355	−4.3%	0.60%
NUE	Nucor Corp Basic Materials	Reduced	71,960	-2,053	$16,029,090	+28.1%	0.59%
ENB	Enbridge Inc Energy	Added	292,885	+5,854	$15,877,295	+2.2%	0.59%
CRM	Salesforce, Inc. Technology	Added	100,581	+19,528	$15,757,019	+4.1%	0.58%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.