Q2 2026 13F · SEC CIK 1259969

Farmers & Merchants Investments Inc

Asset managerFiled 2026-07-20 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $4.1B
Reported positions: 1,760
Top holdings a year, 3 yrs: +17.1%
Average holding period: 11.1 yrs

Farmers & Merchants Investments Inc is an asset manager that reported 1,760 positions worth $4.1B in its Q2 2026 13F, filed 2026-07-20. Its largest holdings were Ishares Core S&p 500 ETF (IVV, 7.1%), Vanguard Tax-Managed Fds (VEA, 6.5%), Ishares Core S&p Small Cap ETF (IJR, 4.0%). A portfolio copying its top holdings returned 17.1% a year over the last 3 years, against 20.4% for the S&P 500.

Farmers & Merchants Investments Inc holdings largest 50 of 1,760 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Farmers & Merchants Investments Inc 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
IVVIshares Core S&p 500 ETF	7.1%	7.0%	390,589	+0.7%	$292.5M
VEAVanguard Tax-Managed Fds	6.5%	6.5%	3,755,844	+2.9%	$267.6M
IJRIshares Core S&p Small Cap ETF	4.0%	4.2%	1,116,608	-8.0%	$165.6M
NNINelnet Inc	3.8%	4.2%	1,179,351	-0.4%	$157.2M
IJHIshares Tr	3.6%	3.5%	1,938,937	+2.8%	$149.5M
AAPLApple Inc	3.1%	3.1%	447,308	+1.6%	$129.4M
AMDAdvanced Micro Devices Inc	2.7%	1.1%	193,518	-0.4%	$112.4M
MSFTMicrosoft Corp	2.6%	2.8%	282,623	+3.5%	$105.4M
VWOVanguard Intl Equity Index F	1.9%	2.1%	1,326,765	-7.0%	$79.2M
AVGOBroadcom Inc	1.9%	1.8%	205,311	-3.6%	$77.6M
GOOGLAlphabet Inc	1.6%	1.4%	183,721	+1.2%	$65.7M
APHAmphenol Corp	1.6%	1.3%	369,201	+1.2%	$65.1M
WCCWESCO International Inc	1.5%	1.3%	174,057	-0.9%	$60.1M
BNDVanguard Total Bond Market ETF	1.4%	1.6%	813,345	+0.6%	$59.7M
BRK-BBerkshire Hathaway Inc Del	1.4%	1.5%	114,155	+2.3%	$57.1M
GOOGAlphabet Inc	1.3%	1.2%	152,949	+3.3%	$54.0M
LLYLilly Eli & Co	1.3%	1.1%	44,397	-1.4%	$53.3M
JPMJpmorgan Chase & Co	1.2%	1.2%	153,996	+1.0%	$50.4M
SLQDIshares 0-5 Year Investmt	1.2%	1.4%	982,350	+1.2%	$49.5M
WMTWalmart Inc	1.1%	1.4%	405,094	-3.2%	$45.9M
TSMTaiwan Semiconductor Manufac	1.1%	0.9%	95,452	+2.2%	$45.6M
DELLDell Technologies Inc	1.0%	—	98,373	—	$42.4M
AMZNAmazon Com Inc Com	1.0%	0.9%	171,378	+5.4%	$40.8M
JNJJohnson & Johnson	1.0%	1.1%	159,376	+1.4%	$40.5M
NVDANvidia Corporation Com	1.0%	0.9%	199,159	+7.5%	$39.8M
XOMExxon Mobil Corp	0.9%	1.3%	270,273	+1.1%	$37.0M
CSCOCisco Sys Inc	0.9%	0.7%	301,674	-1.1%	$35.4M
PANWPalo Alto Networks Inc	0.8%	—	101,488	—	$34.6M
GSGoldman Sachs Group Inc	0.8%	0.8%	32,556	+0.5%	$32.9M
TXNTexas Instruments Inc	0.8%	0.6%	104,902	+1.4%	$31.3M
ORCLOracle Corp	0.8%	0.8%	211,699	+1.1%	$31.0M
LOWLowes Cos Inc	0.7%	0.8%	129,937	+2.6%	$28.6M
BRK-ABerkshire Hathaway Inc Del	0.7%	0.8%	37	-2.6%	$27.7M
CVSCvs Caremark Corporation	0.7%	0.5%	262,608	+0.8%	$27.2M
CATCaterpillar Inc Com	0.6%	0.5%	25,053	-2.5%	$26.7M
EMREmerson Elec Co Com	0.6%	0.7%	185,400	+1.0%	$26.5M
UNHUnitedhealth Group Inc Com	0.6%	—	63,018	—	$26.2M
ASMLAsml Hldg NV	0.6%	—	12,630	—	$25.1M
VOOVanguard S&p 500 ETF	0.6%	0.6%	36,563	+0.8%	$25.1M
BACBank of Amer Corp	0.6%	0.5%	414,377	+1.7%	$23.6M
PEPPepsico Inc	0.6%	0.7%	172,175	+1.6%	$23.3M
VVisa Inc Com Cl A	0.6%	0.6%	67,906	-0.3%	$23.3M
UNPUnion Pac Corp	0.5%	0.6%	82,218	-0.1%	$22.4M
RTXRtx Corporation Com	0.5%	0.6%	114,759	-0.1%	$21.8M
IWMIshares	0.5%	0.5%	72,308	+0.2%	$21.7M
ABBVAbbvie Inc	0.5%	0.5%	85,666	+4.3%	$21.6M
APDAir Products and Chemicals Inc	0.5%	0.6%	70,728	+0.7%	$20.7M
PGProcter & Gamble Co Com	0.5%	0.5%	136,436	+0.8%	$20.0M
VCSHVanguard Scottsdale Fds	0.5%	0.6%	251,560	-7.6%	$19.9M
MCDMcdonalds Corp Com	0.4%	0.6%	68,407	+1.7%	$18.5M

What Farmers & Merchants Investments Inc bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

NVDA Nvidia Corporation Com+7.5% shares
AMZN Amazon Com Inc Com+5.4% shares

Reduced

IJR Ishares Core S&p Small Cap ETF-8.0% shares
VCSH Vanguard Scottsdale Fds-7.6% shares
VWO Vanguard Intl Equity Index F-7.0% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +22.4% /yr; S&P 500 +20.1%
3 years: +17.1% /yr; S&P 500 +20.4%
5 years: +9.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$4.1B	1,760
Q1 2026	$3.6B	1,759
Q4 2025	$3.6B	1,720
Q3 2025	$3.5B	1,736
Q2 2025	$3.4B	1,728
Q1 2025	$3.1B	1,746
Q4 2024	$3.2B	1,773
Q3 2024	$3.2B	1,792
Q2 2024	$3.0B	1,776
Q1 2024	$3.0B	1,739
Q4 2023	$2.7B	1,753
Q3 2023	$2.5B	1,755

Questions about Farmers & Merchants Investments Inc's portfolio

What stocks does Farmers & Merchants Investments Inc own?

Farmers & Merchants Investments Inc's latest 13F, for Q2 2026 and filed Jul 20, 2026, lists 1,760 positions worth $4.1B. The largest are Ishares Core S&p 500 ETF (IVV) at 7.1%, Vanguard Tax-Managed Fds (VEA) at 6.5%, Ishares Core S&p Small Cap ETF (IJR) at 4.0%, Nelnet Inc (NNI) at 3.8% and Ishares Tr (IJH) at 3.6%.

What did Farmers & Merchants Investments Inc buy last quarter?

In Q2 2026, Farmers & Merchants Investments Inc added Nvidia Corporation Com (NVDA) (+7.5% shares) and Amazon Com Inc Com (AMZN) (+5.4% shares), compared with its Q1 2026 filing.

What did Farmers & Merchants Investments Inc sell last quarter?

In Q2 2026, Farmers & Merchants Investments Inc cut from its top 50 Chevron Corp New (CVX), cut from its top 50 Abbott Laboratories (ABT), cut from its top 50 Vanguard Malvern Fds (VTIP), cut from its top 50 Costco Whsl Corp New (COST), Ishares Core S&p Small Cap ETF (IJR) (-8.0% shares), Vanguard Scottsdale Fds (VCSH) (-7.6% shares) and Vanguard Intl Equity Index F (VWO) (-7.0% shares), compared with its Q1 2026 filing.

How has Farmers & Merchants Investments Inc's portfolio performed?

A portfolio copying Farmers & Merchants Investments Inc's 20 largest 13F holdings each quarter, from the day each filing was public, returned +17.1% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +22.4% against +20.1%. Over 5 years: +9.6% a year against +11.6%.

When is Farmers & Merchants Investments Inc's next 13F filing due?

13F filings are due 45 days after each quarter ends. Farmers & Merchants Investments Inc's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.