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13F-HR filed by FARMERS & MERCHANTS INVESTMENTS INC

FARMERS & MERCHANTS INVESTMENTS INC filed this 13F-HR for the quarter ended 2025-12-31, filed 2026-02-03, with 1,721 holding rows worth $3,618,807,356.

Accession
0001140361-26-003508
Filed
2026-02-03
Accepted by EDGAR
acceptance time not in the bulk data set
Ingested
Source
SEC quarterly data set

Original filing

13F report for Q4 2025

A holdings report, 1,721 entries on the cover page, a total value of $3,618,807,356 stated on the cover page (in dollars after the unit check, H1), rows summing to $3,618,807,356 with VALUE read as dollars as filed, 13F file number 028-10511. The quarter's positions are built on this report. The resolved quarter.

Other managers

The information table after summing rows of one CUSIP and put or call (H4), with the CUSIP and issuer name as filed. Values in dollars after the unit check (method).

Issuer as filedCUSIPClassAmountValueValue read asType
HILLTOP HLDGS INC432748101COM25$849dollars as filed
PROASSURANCE CORP74267C106COM35$846dollars as filed
ARLO TECHNOLOGIES INC04206A101COMMON STOCK60$839dollars as filed
NEWELL BRANDS INC COM651229106Stock225$837dollars as filed
COLLEGIUM PHARMACEUTICAL INC19459J104COM18$833dollars as filed
PACIRA BIOSCIENCES INC COM695127100Stock32$828dollars as filed
HARMONY BIOSCIENCES HLDGS IN413197104COM22$823dollars as filed
HEALTHCARE SVCS GROUP INC421906108COM43$822dollars as filed
TRUPANION INC898202106COM22$822dollars as filed
WORLD KINECT CORPORATION981475106COM35$820dollars as filed
DEL MONTE CORP ORDG36738105Stock23$819dollars as filed
VIRTUS INVT PARTNERS INC COM92828Q109Stock5$816dollars as filed
PAYONEER GLOBAL INC COM70451X104Stock145$815dollars as filed
ENCORE CAP GROUP INC292554102COM15$815dollars as filed
G III APPAREL GROUP LTD36237H101COM28$811dollars as filed
AZENTA INC114340102COM24$798dollars as filed
JETBLUE AWYS CORP477143101COM175$796dollars as filed
COHU INC192576106COM34$791dollars as filed
TWO HBRS INVT CORP90187B804COM75$788dollars as filed
MILLERKNOLL INC600544100COM43$786dollars as filed
SALLY BEAUTY HLDGS INC79546E104COM55$784dollars as filed
VISHAY INTERTECHNOLOGY INC COM928298108Stock54$782dollars as filed
IRIDIUM COMMUNICATIONS INC46269C102COM45$782dollars as filed
SAFETY INS GROUP INC78648T100COM10$779dollars as filed
FORTREA HLDGS INC COMMON STOCK34965K107Stock45$776dollars as filed
WINNEBAGO INDS INC974637100COM19$770dollars as filed
ADIENT PLCG0084W101ORD SHS40$767dollars as filed
PROG HOLDINGS INC74319R101COM NPV26$767dollars as filed
PENNYMAC MTG INVT TR COM70931T103REIT61$766dollars as filed
MOHAWK INDS INC608190104COM7$765dollars as filed
STEPAN CO858586100COM16$758dollars as filed
AMERICAN ASSETS TR INC COM024013104REIT40$757dollars as filed
SAREPTA THERAPEUTICS INC803607100COM35$753dollars as filed
HARMONIC INC413160102COM76$752dollars as filed
MARRIOTT VACATIONS WORLDWIDE C COM57164Y107Stock13$750dollars as filed
KODIAK GAS SVCS INC50012A108COM20$748dollars as filed
UNDER ARMOUR INC904311107CL A148$736dollars as filed
UNITI GROUP LLC912932100COM SHS105$736dollars as filed
CENTERSPACE COM15202L107REIT11$734dollars as filed
KENNEDY-WILSON HOLDINGS INC489398107COM75$725dollars as filed
WORTHINGTON ENTERPRISES INC981811102COM14$722dollars as filed
KINETIK HOLDINGS INC COM NEW CL A02215L209Stock20$721dollars as filed
UNDER ARMOUR INC904311206CL C150$720dollars as filed
Indivior PLCG4766E116Common Stock20$718dollars as filed
SCHOLASTIC CORP COM807066105Stock24$711dollars as filed
TREEHOUSE FOODS INC COM89469A104Stock30$708dollars as filed
CERTARA INC COM15687V109Stock80$705dollars as filed
XENCOR INC98401F105COMMON STOCK46$704dollars as filed
GLOBAL NET LEASE INC COM NEW379378201REIT81$697dollars as filed
ADAPTHEALTH CORP00653Q102COMMON STOCK70$697dollars as filed
PERRIGO CO PLC SHSG97822103Stock50$696dollars as filed
DELUXE CORP MEDIUM TERM NTS COM248019101Stock31$692dollars as filed
EMPLOYERS HOLDINGS INC292218104COMMON STOCK16$691dollars as filed
SIX FLAGS ENTERTAINMENT CORP COM83001C108Stock45$690dollars as filed
REYNOLDS CONSUMER PRODS INC COM76171L106Stock30$688dollars as filed
ALLEGIANT TRAVEL CO01748X102COM8$682dollars as filed
JBG SMITH PPTYS COM46590V100REIT40$680dollars as filed
EZCORP INC302301106CL A NON VTG35$680dollars as filed
ASTRANA HEALTH INC03763A207COM NEW27$670dollars as filed
AMPHASTAR PHARMACEUTICALS IN03209R103COM25$670dollars as filed
PREFERRED BK LOS ANGELES CA740367404COM NEW7$661dollars as filed
TALOS ENERGY INC87484T108COM60$661dollars as filed
INNOVIVA INC45781M101COM33$660dollars as filed
ASTEC INDS INC046224101COM15$650dollars as filed
XPEL INC98379L100COM13$649dollars as filed
REX AMERICAN RESOURCES CORP761624105COMMON STOCK20$646dollars as filed
NCR VOYIX CORPORATION62886E108COM63$643dollars as filed
PROGYNY INC COM74340E103Stock25$642dollars as filed
SOUTHSIDE BANCSHARES INC84470P109COMMON STOCK21$638dollars as filed
HELIX ENERGY SOLUTIONS GRP INC COM42330P107Stock101$633dollars as filed
GCI LIBERTY INC COM SER C36164V800Stock17$633dollars as filed
ANI PHARMACEUTICALS INC00182C103COM8$632dollars as filed
DIME COMMERCIAL BANCSHARES I25432X102COMMON STOCK21$632dollars as filed
LEGGETT & PLATT INC524660107COM57$627dollars as filed
PENGUIN SOLUTIONS INC COM706915105Stock32$626dollars as filed
NAVIENT CORPORATION COM63938C108Stock48$624dollars as filed
BRISTOW GROUP INC11040G103COM17$623dollars as filed
CALLAWAY GOLF CO131193104COM53$619dollars as filed
SONIC AUTOMOTIVE INC83545G102CL A10$619dollars as filed
UPBOUND GROUP INC COM76009N100Stock35$615dollars as filed
HAWAIIAN ELEC INDS INC MTN B419870100COM50$615dollars as filed
ENOVIS CORPORATION194014502COM23$613dollars as filed
WILEY JOHN & SONS INC968223206CL A20$613dollars as filed
UNIVERSAL INS HLDGS INC91359V107COM18$608dollars as filed
MIDDLESEX WTR CO596680108COM12$605dollars as filed
LGI HOMES INC COM50187T106Stock14$601dollars as filed
PDF SOLUTIONS INC693282105COMMON STOCK21$599dollars as filed
ENACT HLDGS INC COM29249E109Stock15$595dollars as filed
NEOGEN CORP640491106COM85$594dollars as filed
EASTERLY GOVT PPTYS INC27616P301COM SHS28$593dollars as filed
AMERICAN WOODMARK CORP030506109COM11$593dollars as filed
BJS RESTAURANTS INC09180C106COM15$591dollars as filed
SPRINKLR INC85208T107CL A75$584dollars as filed
APOGEE ENTERPRISES INC037598109COM16$583dollars as filed
COGENT COMMUNICATIONS GROUP19239V302COM NEW27$582dollars as filed
INSPERITY INC45778Q107COM15$581dollars as filed
TOMPKINS FINL CORP COM890110109Stock8$580dollars as filed
BIOLIFE SOLUTIONS INC COM NEW09062W204Stock24$580dollars as filed
ENERGIZER HLDGS INC COM29272W109Stock29$577dollars as filed
STAAR SURGICAL CO COM PAR $0.01852312305Stock25$577dollars as filed
NATIONAL BEVERAGE CORP COM635017106Stock18$574dollars as filed
QUIDELORTHO CORP COM219798105Stock20$571dollars as filed
PENNANT GROUP INC70805E109COM20$563dollars as filed
CENTRAL PAC FINL CORP154760409COM NEW18$561dollars as filed
FRANKLIN BSP REALTY TRUST IN35243J101REIT55$552dollars as filed
MATTHEWS INTL CORP CLASS A577128101COMMON STOCK21$549dollars as filed
CORE LABORATORIES INC21867A105COM34$545dollars as filed
UNITED PARKS & RESORTS INC81282V100COM15$545dollars as filed
DAUCH CORP024061103COM85$545dollars as filed
HERITAGE FINANCIAL CORP42722X106COMMON STOCK23$544dollars as filed
HANMI FINANCIAL CORPORATION410495204COMMON STOCK20$541dollars as filed
PURSUIT ATTRACTIONS AND HOSP92552R406COM16$539dollars as filed
NUSCALE PWR CORP CL A COM67079K100Stock38$538dollars as filed
TRUSTCO BANK CORP NY898349204COMMON STOCK13$537dollars as filed
MANPOWERGROUP INC WIS COM56418H100Stock18$535dollars as filed
DORIAN LPG LTDY2106R110SHS USD22$535dollars as filed
UNITIL CORP COM913259107Stock11$533dollars as filed
QUINSTREET INC74874Q100COM37$532dollars as filed
NIOCORP DEVS LTD654484609COM NEW100$530dollars as filed
ELLINGTON FINANCIAL INC28852N109COM39$530dollars as filed
EDGEWELL PERSONAL CARE CO28035Q102COM31$529dollars as filed
MARCUS MILLICHAP INC566324109COMMON STOCK19$519dollars as filed
LIQUIDITY SVCS INC53635B107COM17$515dollars as filed
TOOTSIE ROLL INDS INC890516107COM14$513dollars as filed
CVR ENERGY, INC.12662P108COM20$509dollars as filed
INNOVEX INTERNATIONAL INC457651107COM23$503dollars as filed
PAPA JOHNS INTL INC698813102COM13$500dollars as filed
METALLUS INC887399103COMMON STOCK29$498dollars as filed
PRA Group Inc69354N106COM28$495dollars as filed
EAGLE BANCORPORATION INC268948106COM23$493dollars as filed
CARTERS INC146229109COM15$486dollars as filed
PHIBRO ANIMAL HEALTH CORP (CLA71742Q106CL A COM13$486dollars as filed
WORTHINGTON STL INC982104101COM SHS14$485dollars as filed
NEXPOINT RESIDENTIAL TR INC65341D102COM16$482dollars as filed
USA TODAY CO INC36472T109COM93$479dollars as filed
STANDARD MOTOR PRODS853666105COMMON STOCK13$479dollars as filed
UNITED FIRE GROUP INC910340108COMMON STOCK13$473dollars as filed
SCANSOURCE INC806037107COM12$469dollars as filed
CARS COM INC14575E105COM38$464dollars as filed
AMERISAFE INC03071H100COM12$461dollars as filed
NEW YORK MTG TR INC649604840COM62$453dollars as filed
AGNT INC30212W100COM50$453dollars as filed
FORWARD AIR CORP COM34986A104Stock18$450dollars as filed
MYERS INDUSTRIES INC628464109COMMON STOCK24$449dollars as filed
SCHRODINGER INC COM80810D103Stock25$447dollars as filed
AMN HEALTHCARE SVCS INC001744101COM28$441dollars as filed
MONRO INC610236101COMMON STOCK22$441dollars as filed
REDWOOD TRUST INC758075402COM79$437dollars as filed
GROCERY OUTLET HLDG CORP COM39874R101Stock43$434dollars as filed
SANFILIPPO JOHN B & SON INC800422107COM6$424dollars as filed
WORLD ACCEP CORPORATION981419104COM3$421dollars as filed
WHITESTONE REIT966084204COM30$417dollars as filed
ACUREN CORP00510N102COM41$415dollars as filed
INSTEEL INDS INC45774W108COM13$412dollars as filed
F&G ANNUITIES & LIFE INC30190A104COMMON STOCK13$409dollars as filed
PC CONNECTION INC69318J100COM7$404dollars as filed
AVANOS MED INC05350V106COM36$404dollars as filed
DAVE & BUSTERS ENTMT INC238337109COM24$389dollars as filed
SUNCOKE ENERGY INC86722A103COMMON STOCK54$389dollars as filed
BRANDYWINE RLTY TR105368203SH BEN INT NEW130$380dollars as filed
VESTIS CORPORATION29430C102COM SHS56$374dollars as filed
LENDINGTREE INC52603B107COM7$372dollars as filed
MYRIAD GENETICS INC62855J104COM60$369dollars as filed
HEALTHSTREAM INC42222N103COM16$369dollars as filed
ICHOR HOLDINGSG4740B105SHS20$369dollars as filed
VIR BIOTECHNOLOGY INC92764N102COM60$362dollars as filed
INTEGRA LIFESCIENCES HLDGS C457985208COM NEW29$360dollars as filed
Sun Country Airlines Holding866683105COM25$360dollars as filed
ARMOUR RESIDENTIAL REIT INC COM SHS042315705REIT20$354dollars as filed
UNIVERSAL HEALTH RLTY INCOME91359E105REIT9$353dollars as filed
KOPPERS HOLDINGS INC50060P106COM13$352dollars as filed
SUMMIT HOTEL PPTYS866082100COM71$346dollars as filed
ETHAN ALLEN INTERIORS INC297602104COM15$343dollars as filed
OXFORD INDS INC691497309COM10$342dollars as filed
BLOOMIN BRANDS INC094235108COM55$339dollars as filed
MARINEMAX INC567908108COM14$339dollars as filed
QUANEX BLDG PRODS CORP COM747619104Stock22$338dollars as filed
BAYTEX ENERGY CORP COM07317Q105Stock104$336dollars as filed
MISTER CAR WASH INC60646V105COM60$334dollars as filed
ATLAS ENERGY SOLUTIONS INC642045108COM NEW35$330dollars as filed
KKR REAL ESTATE FIN TR INC48251K100COM40$329dollars as filed
DREAM FINDERS HOMES INC COM CL A26154D100Stock19$325dollars as filed
ANGI INC00183L201CL A NEW25$323dollars as filed
SABRE CORP COM78573M104Stock237$322dollars as filed
NATIONAL PRESTO INDS INC637215104COMMON STOCK3$320dollars as filed
GUESS INC COM401617105Stock19$318dollars as filed
ALPHA & OMEGA SEMICONDUCTORG6331P104SHS16$317dollars as filed
GRID DYNAMICS HLDGS INC39813G109CL A35$316dollars as filed
VANGUARD INDEX FDS922908637LARGE CAP ETF1$315dollars as filed
N-ABLE INC COMMON STOCK62878D100Stock42$314dollars as filed
RPC INC749660106COMMON STOCK57$310dollars as filed
PELOTON INTERACTIVE INC70614W100CL A COM50$308dollars as filed
FOX FACTORY HLDG CORP35138V102COM18$308dollars as filed
CYTEK BIOSCIENCES INC23285D109COMMON STOCK60$303dollars as filed
CERENCE INC COM156727109Stock28$299dollars as filed
AH RLTY TR INC04208T108COM45$298dollars as filed
CALERES INC129500104COM24$292dollars as filed
SAUL CTRS INC COM804395101REIT9$284dollars as filed
TITAN INTERNATIONAL INC88830M102COMMON STOCK35$274dollars as filed
SHUTTERSTOCK INC COM825690100Stock14$267dollars as filed
HERTZ GLOBAL HLDGS INC42806J700COM NEW50$257dollars as filed
CRACKER BARREL OLD CTRY STOR22410J106COM10$254dollars as filed
GENESCO INC371532102COM10$248dollars as filed
CABLE ONE INC12685J105COM2$226dollars as filed
RIVIAN AUTOMOTIVE INC COM CL A76954A103Stock10$197dollars as filed
CROSS CTRY HEALTHCARE INC227483104COM24$194dollars as filed
GOGO INC38046C109COM40$186dollars as filed
CORSAIR GAMING INC22041X102COM31$184dollars as filed
ORGANON & CO COMMON STOCK68622V106Stock25$179dollars as filed
CENTRAL GARDEN PET CO153527106COMMON STOCK5$161dollars as filed
USANA HEALTH SCIENCES INC90328M107COMMON STOCK8$157dollars as filed
SLEEP NUMBER CORP83125X103COM D18$152dollars as filed
NOKIA CORP654902204SPONSORED ADR21$136dollars as filed
MACROGENICS INC556099109COM80$129dollars as filed
OMNIAB INC68218J103COM53$98dollars as filed
GAMESTOP CORP NEW36467W117*W EXP 10/30/20231$93dollars as filed
SPDR SER TR78464A359BBG CONV SEC ETF1$89dollars as filed
ORION PROPERTIES INC COM68629Y103REIT38$86dollars as filed
MANCHESTER UTD PLC NEWG5784H106CMN4$64dollars as filed
AURORA CANNABIS INC COM05156X850Stock10$42dollars as filed
ALTABA INC COM021esc017COM165$0dollars as filedValue filed as zero, left out of ratios.

Amendment chain

FilingRoleFiledAcceptedIngested
13F-HR 0001140361-26-003508this filing2026-02-03acceptance time not in the bulk data set