Instuitional Investor - Farmers & Merchants Investments Inc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IEF	392,437	$300,547,876	7.23%
2.	Vanguard Ftse Developed Markets Etf		3,838,548	$271,039,874	6.52%
3.	Ishares Trust	IEF	1,120,504	$152,433,364	3.66%
4.	Apple Inc.	AAPL	447,517	$149,032,111	3.58%
5.	Microsoft Corp	MSFT	285,589	$146,478,598	3.52%