America First Investment Advisors, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), America First Investment Advisors, LLC reported 42 stock positions worth $474.1 million. Its top holding was iShares 1-3 Year Treasury Bo (SHY) at 7.9% of the portfolio, followed by WR Berkley (WRB, 6.2%) and Franco-Nevada (FNV, 5.7%). Compared with Q4 2024, it opened 1 new position, sold out of 1, added to 17 and reduced 9. The biggest buy was a new position in SLB (SLB) and the biggest sale an exit from Palantir Technologies Class A (PLTR).
- Most Recent 13F
- Q2 2026
- Location
- OMAHA, NE
- CIK
- 0001308778
- Portfolio Value
- $474.1M (Q1 2025)
- SEC Filing
- 0001308778-25-000003 ↗ filed May 14, 2025
Holdings Value
Holdings 42 stocks · $474.1M
| SHY iShares 1-3 Year Treasury Bo | 7.88% | 451,616 | $37.4M | Reduce -1.2% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 6.20% | 413,318 | $29.4M | Add +0.5% |
| FNV Franco-Nevada Corp. | 5.74% | 172,827 | $27.2M | Add +5.0% |
| RGLD Royal Gold Inc. | 5.68% | 164,830 | $27.0M | Add +2.5% |
| ABT Abbott Laboratories | 5.52% | 197,437 | $26.2M | Add +5.7% |
| CME Cme Group Inc. | 5.49% | 98,158 | $26.0M | Add +1.5% |
| ADP Automatic Data Processing | 5.44% | 84,352 | $25.8M | Reduce -0.3% |
| V Visa Inc. Class A | 5.40% | 73,007 | $25.6M | Reduce -1.4% |
| JNJ Johnson & Johnson | 5.26% | 150,508 | $25.0M | Add +17.8% |
| MA Mastercard Inc. Class A | 5.12% | 44,301 | $24.3M | Add +0.1% |
| AMZN Amazon.com Inc. | 5.08% | 126,615 | $24.1M | Reduce -2.7% |
| ENB Enbridge Inc. | 4.84% | 517,934 | $22.9M | Add +1.0% |
| BN Brookfield Corp. | 4.80% | 434,199 | $22.8M | Reduce -1.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 4.68% | 530,236 | $22.2M | New |
| BAM Brookfield Asset Mgmt-A | 4.60% | 450,279 | $21.8M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 4.48% | 137,413 | $21.2M | Reduce -0.1% |
| PFE Pfizer Inc. | 4.19% | 784,467 | $19.9M | Add +20.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 2.86% | 17 | $13.6M | No change |
| CLX Clorox Company | 2.33% | 75,110 | $11.1M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 1.01% | 8,987 | $4.8M | Reduce -0.2% |
| AAPL Apple Inc. | 0.61% | 13,065 | $2.9M | Add +0.2% |
| USB US Bancorp | 0.49% | 54,842 | $2.3M | No change |
| KO The Coca-Cola Co. | 0.25% | 16,848 | $1.2M | No change |
| MFA Mfa Financial Inc. | 0.22% | 103,225 | $1.1M | Add +217.6% |
| MSFT Microsoft Corp. | 0.20% | 2,482 | $932K | Add +0.5% |
| PSX Phillips 66 | 0.18% | 7,067 | $873K | Reduce -0.2% |
| PG The Procter & Gamble Co. | 0.16% | 4,492 | $766K | No change |
| GHI Greystone Housing Impact Inv | 0.15% | 56,772 | $700K | Add +0.1% |
| JPM JPMorgan Chase & Co. | 0.13% | 2,538 | $623K | Add +0.4% |
| CVX Chevron Corp. | 0.13% | 3,638 | $609K | No change |
| HSY The Hershey Co. | 0.12% | 3,217 | $550K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.11% | 944 | $528K | Reduce -4.7% |
| GD General Dynamics Corp. | 0.11% | 1,918 | $523K | No change |
| PEP Pepsico Inc. | 0.09% | 2,833 | $425K | Add +0.5% |
| RSP Invesco S&P 500 Equal Weight | 0.07% | 1,918 | $332K | Add +13.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.06% | 648 | $304K | No change |
| MU Micron Technology Inc. | 0.06% | 3,335 | $290K | No change |
| LLY Eli Lilly & Co. | 0.05% | 301 | $249K | No change |
| META Meta Platforms Inc. Class A | 0.05% | 430 | $248K | No change |
| TSLA Tesla Inc. | 0.05% | 886 | $230K | No change |
| ORCL Oracle Corp. | 0.05% | 1,631 | $228K | No change |
| NGD New Gold Inc. | 0.02% | 22,660 | $84K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −7.68 |
| GOOGL Alphabet Inc. Class A | Reduce -0.1% | 4.48% | −1.21 |
| AMZN Amazon.com Inc. | Reduce -2.7% | 5.08% | −1.16 |
| BN Brookfield Corp. | Reduce -1.2% | 4.80% | −0.71 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -1.2% | 7.88% | −0.31 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.7% | 0.11% | −0.02 |
| PSX Phillips 66 | Reduce -0.2% | 0.18% | +0.01 |
| ADP Automatic Data Processing | Reduce -0.3% | 5.44% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 1.01% | +0.12 |
| V Visa Inc. Class A | Reduce -1.4% | 5.40% | +0.29 |
Portfolio Buys Q4 2024 → Q1 2025
| SLB SLB Ltd. | New | 4.68% | +4.68 |
| FNV Franco-Nevada Corp. | Add +5.0% | 5.74% | +1.52 |
| JNJ Johnson & Johnson | Add +17.8% | 5.26% | +1.23 |
| RGLD Royal Gold Inc. | Add +2.5% | 5.68% | +1.05 |
| WRB WR Berkley Corp. | Add +0.5% | 6.20% | +0.94 |
| ABT Abbott Laboratories | Add +5.7% | 5.52% | +0.91 |
| CME Cme Group Inc. | Add +1.5% | 5.49% | +0.58 |
| PFE Pfizer Inc. | Add +20.1% | 4.19% | +0.40 |
| MFA Mfa Financial Inc. | Add +217.6% | 0.22% | +0.15 |
| ENB Enbridge Inc. | Add +1.0% | 4.84% | +0.09 |
| MA Mastercard Inc. Class A | Add +0.1% | 5.12% | +0.03 |
| GHI Greystone Housing Impact Inv | Add +0.1% | 0.15% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +13.5% | 0.07% | +0.01 |
| JPM JPMorgan Chase & Co. | Add +0.4% | 0.13% | −0.00 |
| PEP Pepsico Inc. | Add +0.5% | 0.09% | −0.00 |
| MSFT Microsoft Corp. | Add +0.5% | 0.20% | −0.03 |
| AAPL Apple Inc. | Add +0.2% | 0.61% | −0.10 |
| BAM Brookfield Asset Mgmt-A | Add +0.2% | 4.60% | −0.72 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 45 | $538.9M | SHY, GOOGL, JNJ, AMZN, ENB |
| Q1 2026 | 41 | $536.5M | SHY, JNJ, GOOGL, SLB, ENB |
| Q4 2025 | 42 | $549.1M | SHY, GOOGL, RGLD, TMO, FNV |
| Q3 2025 | 44 | $538.3M | SHY, FNV, GOOGL, RGLD, WRB |
| Q2 2025 | 43 | $501.4M | SHY, WRB, RGLD, AMZN, FNV |
| Q1 2025 | 42 | $474.1M | SHY, WRB, FNV, RGLD, ABT |
| Q4 2024 | 42 | $457.6M | SHY, PLTR, AMZN, GOOGL, BN |
| Q3 2024 | 42 | $445.6M | SHY, PLTR, AMZN, BN, ADP |
| Q2 2024 | 80 | $406.2M | SHY, PLTR, AMZN, GOOGL, WRB |
| Q1 2024 | 85 | $411.3M | SHY, PLTR, GOOGL, AMZN, WRB |