FARMERS & MERCHANTS BANCORP

Ticker: FMAO CUSIP: 30779N105 Class: Common Stock

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
BlackRock, Inc.948,810$23,455
VANGUARD GROUP INC674,308$16,669
Goelzer Investment Management, Inc.485,064$11,991
GEODE CAPITAL MANAGEMENT, LLC301,252$7,448
MANUFACTURERS LIFE INSURANCE COMPANY, THE294,844$7,289
Align Financial, LLC276,864$277
STATE STREET CORP252,537$6,300
DIMENSIONAL FUND ADVISORS LP214,561$5,304
Mendel Money Management127,553$3,153
Gryphon Financial Partners LLC100,185$2,477
NORTHERN TRUST CORP88,103$2,178
Bank of New York Mellon Corp46,173$1,141
CHARLES SCHWAB INVESTMENT MANAGEMENT INC38,162$943
MARSHALL WACE, LLP37,696$932
FORT WASHINGTON INVESTMENT ADVISORS INC /OH/34,233$846
MILLENNIUM MANAGEMENT LLC33,820$836
Venture Visionary Partners LLC30,928$765
Russell Investments Group, Ltd.29,178$721
Nuveen, LLC27,973$691
Quantinno Capital Management LP27,762$686
MORGAN STANLEY24,844$614
BARCLAYS PLC22,679$561
Squarepoint Ops LLC21,381$529
WELLS FARGO & COMPANY/MN21,316$527
CITADEL ADVISORS LLC20,518$507
GOLDMAN SACHS GROUP INC19,184$474
JANE STREET GROUP, LLC15,762$390
RHUMBLINE ADVISERS15,639$387
AQR CAPITAL MANAGEMENT LLC15,310$378
BANK OF AMERICA CORP /DE/14,920$369
Invesco Ltd.14,887$368
LOS ANGELES CAPITAL MANAGEMENT LLC14,515$344
HICKS CAPITAL MANAGEMENT LLC14,513$359
BRIDGEWAY CAPITAL MANAGEMENT, LLC14,422$357
AMERICAN CENTURY COMPANIES INC14,331$354
Janney Montgomery Scott LLC12,684$0
Waverly Advisors, LLC11,926$295
Revisor Wealth Management LLC11,607$310
DEUTSCHE BANK AG\11,351$281
JPMORGAN CHASE & CO10,268$254
ALLIANCEBERNSTEIN L.P.10,120$250
MERCER GLOBAL ADVISORS INC /ADV9,879$244
FIRST MANHATTAN CO. LLC.9,605$240
HSBC HOLDINGS PLC9,493$232
ABNER HERRMAN & BROCK LLC8,869$0
Trexquant Investment LP8,861$219
Integrated Quantitative Investments LLC8,391$207
FRANKLIN RESOURCES INC8,308$205
&PARTNERS8,259$204
ACADIAN ASSET MANAGEMENT LLC7,243$0
MetLife Investment Management, LLC6,907$171
TRUST CO OF TOLEDO NA /OH/5,940$147
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.5,911$146
OSAIC HOLDINGS, INC.4,378$108
NEW YORK STATE COMMON RETIREMENT FUND4,207$104
BNP PARIBAS ARBITRAGE, SA3,564$88
Police & Firemen's Retirement System of New Jersey3,164$78
UBS Group AG3,040$75
Clearstead Advisors, LLC2,600$64
Farther Finance Advisors, LLC2,531$63
CoreCap Advisors, LLC2,224$55
Larson Financial Group LLC2,000$49
GAMMA Investing LLC1,692$42
CITIGROUP INC1,425$35
GREAT WEST LIFE ASSURANCE CO /CAN/1,406$0
Ameritas Investment Partners, Inc.1,340$33
ROYAL BANK OF CANADA1,159$28
Legal & General Group Plc1,124$28
CWM, LLC928$0
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM782$19
Sterling Capital Management LLC732$18
Tower Research Capital LLC (TRC)475$12
State of Alaska, Department of Revenue423$0
AMALGAMATED BANK399$0
Versant Capital Management, Inc353$9
NISA INVESTMENT ADVISORS, LLC280$7
FMR LLC249$6
SRS Capital Advisors, Inc.202$5
Optiver Holding B.V.98$2
Capital Advisors, Ltd. LLC33$0
Hendershot Investments Inc.30$250
IFP Advisors, Inc29$1
EverSource Wealth Advisors, LLC27$1
Covestor Ltd19$0
MAI Capital Management13$0
Allworth Financial LP12$0
ROTHSCHILD INVESTMENT LLC8$0
True Wealth Design, LLC2$0
Smartleaf Asset Management LLC1$0
Sunbelt Securities, Inc.1$0
Total (90 institutions)4,540,799$105,206