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Asset Manager ← All Institutions

America First Investment Advisors, LLC

10050 REGENCY CIRCLE SUITE 515, OMAHA, NE 68114 • 402-991-3388

Q4 2025 · Filed 2026-02-09
Market Value
$534M
+4.0%
Holdings
44
+1
New Purchases
1
Added To
13
Closed
3
Reduced
13
Top 10 Concentration
57.7%
Turnover
9.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FI 4.69% 0.00% +4.69% $25M
TMO 5.78% 5.27% +0.52% $31M
SLB 4.17% 3.77% +0.40% $22M
SHY 7.84% 7.60% +0.24% $42M
JNJ 5.65% 5.41% +0.24% $30M
MU 0.18% 0.11% +0.07% $952K
RGLD 6.05% 5.99% +0.06% $32M
AMZN 5.27% 5.24% +0.04% $28M
USB 0.55% 0.52% +0.03% $3M
V 4.78% 4.76% +0.03% $26M
RSP 0.09% 0.07% +0.01% $465K
CVX 0.11% 0.10% +0.01% $578K
KO 0.22% 0.22% +0.00% $1M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BRK-A 1.13% 2.35% -1.22% $6M
FNV 5.69% 6.86% -1.18% $30M
WRB 4.98% 5.67% -0.69% $27M
ADP 4.16% 4.72% -0.56% $22M
ABT 4.67% 5.10% -0.43% $25M
ENB 4.69% 5.08% -0.39% $25M
CLX 1.42% 1.80% -0.39% $8M
BN 5.31% 5.57% -0.26% $28M
AAPL 0.42% 0.65% -0.23% $2M
GHI 0.08% 0.24% -0.16% $451K
GOOGL 6.20% 6.34% -0.14% $33M
PFE 3.89% 4.00% -0.10% $21M
BRK-B 0.91% 1.00% -0.09% $5M
MA 4.76% 4.85% -0.09% $25M
CME 4.90% 4.98% -0.08% $26M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 34.8%
Healthcare 20.7%
Energy 11.4%
Basic Materials 10.6%
Communication Services 5.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 21 $163M 30.4%
Large Cap 19 $370M 69.3%
Mid Cap 1 $0 0.0%
Small Cap 1 $961K 0.2%
Micro Cap 2 $466K 0.1%

Portfolio Analytics

Avg Market Cap
$664.7B
Median Market Cap
$159.4B
Avg P/E
33.9
Median P/E
24.5
Avg Dividend Yield
0.03%
Avg Beta
0.84
# Stocks
40
# ETFs / Funds
4

Top Holdings (44 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SHY 7.84% 505,362 $42M $82.82 $3M +35,511 +7.6%
2 GOOGL 6.20% 105,770 $33M $313.00 $547K -28,163 -21.0%
3 RGLD 6.05% 145,422 $32M $222.29 $2M -7,926 -5.2%
4 TMO 5.78% 53,300 $31M $579.45 $4M -2,422 -4.3%
5 FNV 5.69% 146,440 $30M $207.28 -$5M -11,496 -7.3%
6 JNJ 5.65% 145,660 $30M $206.95 $2M -4,021 -2.7%
7 BN 5.31% 617,483 $28M $45.89 -$251K +200,630 +48.1%
8 AMZN 5.27% 121,965 $28M $230.82 $1M -397 -0.3%
9 WRB 4.98% 379,387 $27M $70.12 -$2M -261 -0.1%
10 CME 4.90% 95,881 $26M $273.08 $606K +1,219 +1.3%
11 V 4.78% 72,836 $26M $350.71 $1M +1,341 +1.9%
12 MA 4.76% 44,541 $25M $570.88 $544K +794 +1.8%
13 ENB 4.69% 524,043 $25M $47.83 -$1M +7,261 +1.4%
14 FI 4.69% 372,979 $25M $67.17 +372,979 NEW
15 ABT 4.67% 199,156 $25M $125.29 -$1M +3,659 +1.9%
16 SLB 4.17% 580,380 $22M $38.38 $3M +17,280 +3.1%
17 ADP 4.16% 86,242 $22M $257.23 -$2M +3,730 +4.5%
18 PFE 3.89% 834,814 $21M $24.90 $275K +29,798 +3.7%
19 CLX 1.42% 75,110 $8M $100.83 -$2M
20 BRK-A 1.13% 8 $6M $754,800.00 -$6M -8 -50.0%
21 BRK-B 0.91% 9,652 $5M $502.65 -$277K -549 -5.4%
22 USB 0.55% 54,842 $3M $53.36 $276K
23 AAPL 0.42% 8,303 $2M $271.85 -$1M -4,774 -36.5%
24 KO 0.22% 16,848 $1M $69.91 $60K
25 MFA 0.18% 103,225 $961K $9.31 $12K
26 MU 0.18% 3,335 $952K $285.41 $394K
27 MSFT 0.16% 1,820 $880K $483.71 -$356K -568 -23.8%
28 PSX 0.16% 6,580 $849K $129.04 -$46K
29 JPM 0.15% 2,529 $815K $322.22 $17K
30 SPY 0.12% 950 $648K $681.63 $16K +2 +0.2%
31 GD 0.12% 1,918 $646K $336.66 -$8K
32 PG 0.12% 4,492 $644K $143.31 -$46K
33 HSY 0.11% 3,217 $585K $181.98 -$16K
34 CVX 0.11% 3,792 $578K $152.41 $50K +394 +11.6%
35 RSP 0.09% 2,427 $465K $191.56 $87K +435 +21.8%
36 GHI 0.08% 65,528 $451K $6.89 -$786K -54,661 -45.5%
37 TSLA 0.08% 929 $418K $449.72 $5K
38 PEP 0.08% 2,819 $405K $143.52 $9K
39 META 0.06% 450 $297K $660.09 -$33K
40 ORCL 0.04% 1,153 $225K $194.91 -$234K -478 -29.3%
41 ZONE —% 57,471 $15K $0.26 -$101K
42 QQQ —% -$389K -648 -100.0% SOLD
43 LLY —% -$230K -301 -100.0% SOLD
44 NGD —% -$72K -10,000 -100.0% SOLD

New Positions

SymbolValue% Port
FI $25M 4.69%

Sold Out Positions

SymbolValue% Port
LLY —%
QQQ —%
NGD —%
View SEC EDGAR Filings for America First Investment Advisors, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms