AMERICA FIRST INVESTMENT ADVISORS, LLC

PrivateCIK: 1308778

Location

OMAHA, NE

Positions

$538.85M

Total AUM (reported)

6.16M

Total Shares

Allocation by class

COM$327.39M60.8%

1 3 YR TREAS BD$43.98M8.2%

CAP STK CL A$36.17M6.7%

CL A$31.14M5.8%

COM STK$26.31M4.9%

CL A LTD VT SH$26.24M4.9%

COM CL A$25.29M4.7%

Portfolio Concentration

Top 3$115.44M21.4%

4–10$189.62M35.2%

11–25$221.12M41.0%

Rest$12.67M2.4%

Top 3 weight

21.4%

Top 10 weight

56.6%

Voting Authority Distribution

Total shares with voting rights: 6.16M

Sole

Full voting authority

5.98M

% of voting shares97.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

182.20K

% of voting shares3.0%

Investment Discretion (by position count)

Sole45

Shared0

Other0

Dominant voting typeSole · 97.0% of voting shares

Institutional Holdings45

Rows:

ISHARES TR

SOLE

1 3 YR TREAS BD

Shares535.58K

TypeSH

Market value$43.98M

8.16%

Sole

518.28K

Shared

0.00

None

17.30K

ALPHABET INC

SOLE

CAP STK CL A

Shares101.22K

TypeSH

Market value$36.17M

6.71%

Sole

98.31K

Shared

0.00

None

2.92K

JOHNSON & JOHNSON

SOLE

COM

Shares138.96K

TypeSH

Market value$35.29M

6.55%

Sole

134.45K

Shared

0.00

None

4.50K

AMAZON COM INC

SOLE

COM

Shares122.62K

TypeSH

Market value$29.22M

5.42%

Sole

118.76K

Shared

0.00

None

3.86K

ENBRIDGE INC

SOLE

COM

Shares520.72K

TypeSH

Market value$28.23M

5.24%

Sole

502.47K

Shared

0.00

None

18.25K

BERKLEY W R CORP

SOLE

COM

Shares383.61K

TypeSH

Market value$27.06M

5.02%

Sole

370.47K

Shared

0.00

None

13.14K

THERMO FISHER SCIENTIFIC INC

SOLE

COM

Shares53.15K

TypeSH

Market value$26.65M

4.94%

Sole

51.21K

Shared

0.00

None

1.94K

SLB LIMITED

SOLE

COM STK

Shares565.99K

TypeSH

Market value$26.31M

4.88%

Sole

547.20K

Shared

0.00

None

18.79K

BROOKFIELD CORP

SOLE

CL A LTD VT SH

Shares616.18K

TypeSH

Market value$26.24M

4.87%

Sole

594.68K

Shared

0.00

None

21.50K

AUTOMATIC DATA PROCESSING IN

SOLE

COM

Shares115.69K

TypeSH

Market value$25.91M

4.81%

Sole

111.70K

Shared

0.00

None

3.99K

VISA INC

SOLE

COM CL A

Shares73.70K

TypeSH

Market value$25.29M

4.69%

Sole

71.02K

Shared

0.00

None

2.68K

FRANCO NEV CORP

SOLE

COM

Shares113.63K

TypeSH

Market value$23.68M

4.40%

Sole

109.56K

Shared

0.00

None

4.07K

VERISK ANALYTICS INC

SOLE

COM

Shares130.92K

TypeSH

Market value$23.50M

4.36%

Sole

126.39K

Shared

0.00

None

4.54K

MASTERCARD INCORPORATED

SOLE

CL A

Shares45.23K

TypeSH

Market value$23.23M

4.31%

Sole

43.57K

Shared

0.00

None

1.66K

ABBOTT LABORATORIES

SOLE

COM

Shares238.90K

TypeSH

Market value$21.68M

4.02%

Sole

230.81K

Shared

0.00

None

8.09K

ROYAL GOLD INC

SOLE

COM

Shares107.57K

TypeSH

Market value$21.47M

3.98%

Sole

103.71K

Shared

0.00

None

3.86K

CME GROUP INC

SOLE

COM

Shares96.01K

TypeSH

Market value$21.20M

3.93%

Sole

92.80K

Shared

0.00

None

3.21K

FISERV INC

SOLE

COM

Shares409.49K

TypeSH

Market value$20.09M

3.73%

Sole

394.92K

Shared

0.00

None

14.57K

BROOKFIELD ASSET MANAGMT LTD

SOLE

CL A LMT VTG SHS

Shares285.38K

TypeSH

Market value$12.80M

2.38%

Sole

275.55K

Shared

0.00

None

9.82K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL A

Shares10.00

TypeSH

Market value$7.49M

1.39%

Sole

10.00

Shared

0.00

None

0.00

CLOROX CO DEL

SOLE

COM

Shares75.11K

TypeSH

Market value$7.17M

1.33%

Sole

75.11K

Shared

0.00

None

0.00

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares8K

TypeSH

Market value$4.00M

0.74%

Sole

6.50K

Shared

0.00

None

1.50K

MICRON TECHNOLOGY INC

SOLE

COM

Shares3.33K

TypeSH

Market value$3.85M

0.71%

Sole

3.33K

Shared

0.00

None

0.00

US BANCORP

SOLE

COM NEW

Shares54.84K

TypeSH

Market value$3.31M

0.61%

Sole

54.84K

Shared

0.00

None

0.00

APPLE INC

SOLE

COM

Shares8.16K

TypeSH

Market value$2.36M

0.44%

Sole

8.16K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
ISHARES TRSOLE	1 3 YR TREAS BD	535.58K	SH	$43.98M 8.16%	518.28K	17.30K
ALPHABET INCSOLE	CAP STK CL A	101.22K	SH	$36.17M 6.71%	98.31K	2.92K
JOHNSON & JOHNSONSOLE	COM	138.96K	SH	$35.29M 6.55%	134.45K	4.50K
AMAZON COM INCSOLE	COM	122.62K	SH	$29.22M 5.42%	118.76K	3.86K
ENBRIDGE INCSOLE	COM	520.72K	SH	$28.23M 5.24%	502.47K	18.25K
BERKLEY W R CORPSOLE	COM	383.61K	SH	$27.06M 5.02%	370.47K	13.14K
THERMO FISHER SCIENTIFIC INCSOLE	COM	53.15K	SH	$26.65M 4.94%	51.21K	1.94K
SLB LIMITEDSOLE	COM STK	565.99K	SH	$26.31M 4.88%	547.20K	18.79K
BROOKFIELD CORPSOLE	CL A LTD VT SH	616.18K	SH	$26.24M 4.87%	594.68K	21.50K
AUTOMATIC DATA PROCESSING INSOLE	COM	115.69K	SH	$25.91M 4.81%	111.70K	3.99K
VISA INCSOLE	COM CL A	73.70K	SH	$25.29M 4.69%	71.02K	2.68K
FRANCO NEV CORPSOLE	COM	113.63K	SH	$23.68M 4.40%	109.56K	4.07K
VERISK ANALYTICS INCSOLE	COM	130.92K	SH	$23.50M 4.36%	126.39K	4.54K
MASTERCARD INCORPORATEDSOLE	CL A	45.23K	SH	$23.23M 4.31%	43.57K	1.66K
ABBOTT LABORATORIESSOLE	COM	238.90K	SH	$21.68M 4.02%	230.81K	8.09K
ROYAL GOLD INCSOLE	COM	107.57K	SH	$21.47M 3.98%	103.71K	3.86K
CME GROUP INCSOLE	COM	96.01K	SH	$21.20M 3.93%	92.80K	3.21K
FISERV INCSOLE	COM	409.49K	SH	$20.09M 3.73%	394.92K	14.57K
BROOKFIELD ASSET MANAGMT LTDSOLE	CL A LMT VTG SHS	285.38K	SH	$12.80M 2.38%	275.55K	9.82K
BERKSHIRE HATHAWAY INC DELSOLE	CL A	10.00	SH	$7.49M 1.39%	10.00	0.00
CLOROX CO DELSOLE	COM	75.11K	SH	$7.17M 1.33%	75.11K	0.00
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	8K	SH	$4.00M 0.74%	6.50K	1.50K
MICRON TECHNOLOGY INCSOLE	COM	3.33K	SH	$3.85M 0.71%	3.33K	0.00
US BANCORPSOLE	COM NEW	54.84K	SH	$3.31M 0.61%	54.84K	0.00
APPLE INCSOLE	COM	8.16K	SH	$2.36M 0.44%	8.16K	0.00

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