Instuitional Investor - Farmers & Merchants Investments Inc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IEF	387,788	$253,306,999	6.99%
2.	Vanguard Ftse Developed Markets Etf		3,649,530	$233,861,882	6.45%
3.	Nelnet Inc	NNI	1,184,351	$152,733,905	4.21%
4.	Ishares Trust	IEF	1,213,599	$150,862,492	4.16%
5.	Ishares Trust	IEF	1,885,265	$127,311,945	3.51%