# EDGAR Filing Document

**Accession Number:** 0001308778
**File Stem:** 0001308778-25-000009
**Filing Date:** 2025-8
**Character Count:** 45018
**Document Hash:** 34221ee20f51f4eab695c7380cf94802
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001308778-25-000009.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001308778-25-000009

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**EFFECTIVENESS DATE**: 20250825

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** America First Investment Advisors, LLC
- **CENTRAL INDEX KEY:** 0001308778

**ORGANIZATION NAME:**
- **EIN:** 476197829
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11259
- **FILM NUMBER:** 251251192

**BUSINESS ADDRESS:**
- **STREET 1:** 10050 REGENCY CIRCLE
- **STREET 2:** SUITE 515
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68114
- **BUSINESS PHONE:** 402-991-3388

**MAIL ADDRESS:**
- **STREET 1:** 10050 REGENCY CIRCLE
- **STREET 2:** SUITE 515
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68114

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001308778

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** America First Investment Advisors, LLC

**Address:** 10050 REGENCY CIRCLE, OMAHA, NE 68114

**Telephone number:** 402-991-5651

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-11259

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                        | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                 | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   | SHARES VOTED FOR OR AGAINST MANAGEMENT   | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| The Procter  Gamble Company           | 742718109 | 10/17/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           4492 |                0 | FOR         | 4492                                     | FOR                         |  |
| Medtronic Plc                         | G5960L103 | 11/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |            695 |                0 | FOR         | 695                                      | FOR                         |  |
| Automatic Data Processing, Inc.       | 053015103 | 11/14/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          84165 |                0 | FOR         | 84165                                    | FOR                         |  |
| Oracle Corporation                    | 68389X105 | 11/20/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1631 |                0 | FOR         | 1631                                     | FOR                         |  |
| The Clorox Company                    | 189054109 | 12/10/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          22070 |                0 | FOR         | 22070                                    | FOR                         |  |
| Microsoft Corporation                 | 594918104 | 01/16/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           2368 |                0 | FOR         | 2368                                     | FOR                         |  |
| Micron Technology, Inc.               | 595112103 | 01/16/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           3335 |                0 | FOR         | 3335                                     | FOR                         |  |
| Micron Technology, Inc.               | 595112103 | 01/28/2025     | Approve Omnibus Stock Plan                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |           3335 |                0 | FOR         | 3335                                     | FOR                         |  |
| Visa Inc.                             | 92826C839 | 02/25/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          71063 |                0 | FOR         | 71063                                    | FOR                         |  |
| Apple Inc.                            | 037833100 | 03/20/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          13039 |                0 | FOR         | 13039                                    | FOR                         |  |
| The Walt Disney Company               | 254687106 | 04/02/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Schlumberger N.V.                     | 806857108 | 04/02/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         505218 |                0 | FOR         | 505218                                   | FOR                         |  |
| Schlumberger N.V.                     | 806857108 | 04/15/2025     | Amend Qualified Employee Stock Purchase Plan                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         505218 |                0 | FOR         | 505218                                   | FOR                         |  |
| U.S. Bancorp                          | 902973304 | 04/23/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          54842 |                0 | FOR         | 54842                                    | FOR                         |  |
| ASML Holding NV                       | N07059202 | 04/23/2025     | Approve Remuneration Report                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ASML Holding NV                       | N07059202 | 04/23/2025     | Approve Number of Shares FOR Management Board                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ASML Holding NV                       | N07059202 | 04/23/2025     | Amend Remuneration Policy of Executive Board                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ASML Holding NV                       | N07059202 | 04/24/2025     | Amend Remuneration of Supervisory Board                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Approve Compensation Report of Corporate Officers                                                                                                | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Approve Compensation of Antoine Gosset-Grainville, Chairman of the Board                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Approve Compensation of Thomas Buberl, CEO                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Approve Remuneration Policy of Chairman of the Board                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Approve Remuneration Policy of CEO                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Approve Remuneration Policy of Directors                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Authorize Capital Issuances FOR Use in Employee Stock Purchase Plans                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Authorize Capital Issuances FOR Use in Employee Stock Purchase Plans Reserved FOR Employees and Corporate Officers of International Subsidiaries | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Authorize up to 1 Percent of Issued Capital FOR Use in Restricted Stock Plans With PerFORmance Conditions Attached                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AXA SA                                | F06106102 | 04/24/2025     | Authorize up to 0.40 Percent of Issued Capital FOR Use in Restricted Stock Plans Reserved FOR Pension Contribution                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Johnson  Johnson                      | 478160104 | 04/24/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         145229 |                0 | FOR         | 145229                                   | FOR                         |  |
| Johnson  Johnson                      | 478160104 | 04/24/2025     | Submit Severance Agreement to Shareholder Vote                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         145229 |                0 | Against     | 145229                                   | FOR                         |  |
| Pfizer Inc.                           | 717081103 | 04/24/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         750586 |                0 | FOR         | 750586                                   | FOR                         |  |
| Pfizer Inc.                           | 717081103 | 04/25/2025     | Submit Severance Agreement to Shareholder Vote                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         750586 |                0 | Against     | 750586                                   | FOR                         |  |
| Abbott Laboratories                   | 002824100 | 04/25/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         190932 |                0 | FOR         | 190932                                   | FOR                         |  |
| Agnico Eagle Mines Limited            | 008474108 | 04/29/2025     | Advisory Vote on Executive Compensation Approach                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           1490 |                0 | FOR         | 1490                                     | FOR                         |  |
| American Electric Power Company, Inc. | 025537101 | 04/29/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| The Williams Companies, Inc.          | 969457100 | 04/29/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Wells Fargo  Company                  | 949746101 | 04/30/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| The Coca-Cola Company                 | 191216100 | 05/05/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          16848 |                0 | FOR         | 16848                                    | FOR                         |  |
| Brookfield Asset Management Ltd.      | 113004105 | 05/05/2025     | Advisory Vote on Executive Compensation Approach                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         430820 |                0 | FOR         | 430820                                   | FOR                         |  |
| Eli Lilly and Company                 | 532457108 | 05/06/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| New Gold Inc.                         | 644535106 | 05/06/2025     | Amend Long Term Incentive Plan                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| New Gold Inc.                         | 644535106 | 05/06/2025     | Advisory Vote on Executive Compensation Approach                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| The Hershey Company                   | 427866108 | 05/07/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           3217 |                0 | FOR         | 3217                                     | FOR                         |  |
| Enbridge Inc.                         | 29250N105 | 05/07/2025     | Advisory Vote on Executive Compensation Approach                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         499345 |                0 | FOR         | 499345                                   | FOR                         |  |
| General Dynamics Corporation          | 369550108 | 05/07/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1918 |                0 | FOR         | 1918                                     | FOR                         |  |
| GSK Plc                               | G3910J179 | 05/07/2025     | Approve Remuneration Report                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| GSK Plc                               | G3910J179 | 05/07/2025     | Approve Remuneration Policy                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| GSK Plc                               | G3910J179 | 05/07/2025     | Approve Share Value Plan                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| PepsiCo, Inc.                         | 713448108 | 05/08/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           2819 |                0 | FOR         | 2819                                     | FOR                         |  |
| CME Group Inc.                        | 12572Q105 | 05/08/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          94850 |                0 | FOR         | 94850                                    | FOR                         |  |
| Franco-Nevada Corporation             | 351858105 | 05/08/2025     | Advisory Vote on Executive Compensation Approach                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         166252 |                0 | FOR         | 166252                                   | FOR                         |  |
| Stryker Corporation                   | 863667101 | 05/08/2025     | Amend Omnibus Stock Plan                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Stryker Corporation                   | 863667101 | 05/08/2025     | Amend Restricted Stock Plan                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Stryker Corporation                   | 863667101 | 05/08/2025     | Amend Qualified Employee Stock Purchase Plan                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Stryker Corporation                   | 863667101 | 05/08/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Union Pacific Corporation             | 907818108 | 05/08/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Union Pacific Corporation             | 907818108 | 05/09/2025     | Amend Clawback Policy                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Camden Property Trust                 | 133131102 | 05/13/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| ConocoPhillips                        | 20825C104 | 05/15/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1000 |                0 | FOR         | 1000                                     | FOR                         |  |
| AT Inc.                               | 00206R102 | 05/15/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| BlackRock, Inc.                       | 09290D101 | 05/15/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Chubb Limited                         | H1467J104 | 05/15/2025     | Approve Remuneration of Directors in the Amount of USD 6.5 Million                                                                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Chubb Limited                         | H1467J104 | 05/15/2025     | Approve Remuneration of Executive Management in the Amount of USD 78 Million FOR Fiscal 2026                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Chubb Limited                         | H1467J104 | 05/15/2025     | Approve Remuneration Report                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Chubb Limited                         | H1467J104 | 05/15/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Morgan Stanley                        | 617446448 | 05/15/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Morgan Stanley                        | 617446448 | 05/15/2025     | Amend Omnibus Stock Plan                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Motorola Solutions, Inc.              | 620076307 | 05/16/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| nVent Electric Plc                    | G6700G107 | 05/16/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| nVent Electric Plc                    | G6700G107 | 05/20/2025     | Advisory Vote on Say on Pay Frequency                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Honeywell International Inc.          | 438516106 | 05/20/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| JPMorgan Chase  Co.                   | 46625H100 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           2538 |                0 | FOR         | 2538                                     | FOR                         |  |
| Amazon.com, Inc.                      | 023135106 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         121647 |                0 | FOR         | 121647                                   | FOR                         |  |
| Diamondback Energy, Inc.              | 25278X109 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Diamondback Energy, Inc.              | 25278X109 | 05/21/2025     | Submit Severance Agreement to Shareholder Vote                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Mondelez International, Inc.          | 609207105 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1150 |                0 | FOR         | 1150                                     | FOR                         |  |
| Mondelez International, Inc.          | 609207105 | 05/21/2025     | Approve Nonqualified Employee Stock Purchase Plan                                                                                                | SECTION 14A SAY-ON-PAY VOTES |           1150 |                0 | FOR         | 1150                                     | FOR                         |  |
| ONEOK, Inc.                           | 682680103 | 05/21/2025     | Approve Omnibus Stock Plan                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |           1200 |                0 | FOR         | 1200                                     | FOR                         |  |
| ONEOK, Inc.                           | 682680103 | 05/21/2025     | Approve Restricted Stock Plan                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |           1200 |                0 | FOR         | 1200                                     | FOR                         |  |
| ONEOK, Inc.                           | 682680103 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1200 |                0 | FOR         | 1200                                     | FOR                         |  |
| Phillips 66                           | 718546104 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           7067 |                0 |  |  |  |  |
| Phillips 66                           | 718546104 | 05/21/2025     | Advisory Vote on Say on Pay Frequency                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |           7067 |                0 |  |  |  |  |
| Phillips 66                           | 718546104 | 05/21/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           7067 |                0 | FOR         | 7067                                     | FOR                         |  |
| Phillips 66                           | 718546104 | 05/21/2025     | Advisory Vote on Say on Pay Frequency                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |           7067 |                0 | One Year    | 7067                                     | FOR                         |  |
| Zoetis Inc.                           | 98978V103 | 05/22/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Fresenius Medical Care AG             | D2734Z107 | 05/22/2025     | Approve Remuneration Report                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Kenvue Inc.                           | 49177J102 | 05/22/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| NextEra Energy, Inc.                  | 65339F101 | 05/22/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Royal Gold, Inc.                      | 780287108 | 05/22/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         158096 |                0 | FOR         | 158096                                   | FOR                         |  |
| Royal Gold, Inc.                      | 780287108 | 05/22/2025     | Approve Omnibus Stock Plan                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         158096 |                0 | FOR         | 158096                                   | FOR                         |  |
| The Home Depot, Inc.                  | 437076102 | 05/22/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Verizon Communications Inc.           | 92343V104 | 05/23/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| TotalEnergies SE                      | F92124100 | 05/23/2025     | Approve Compensation Report of Corporate Officers                                                                                                | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| TotalEnergies SE                      | F92124100 | 05/23/2025     | Approve Remuneration Policy of Directors; Approve Remuneration of Directors in the Aggregate Amount of EUR 2.15 Million                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| TotalEnergies SE                      | F92124100 | 05/23/2025     | Approve Compensation of Patrick Pouyanne, Chairman and CEO                                                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| TotalEnergies SE                      | F92124100 | 05/23/2025     | Approve Remuneration Policy of Chairman and CEO                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| TotalEnergies SE                      | F92124100 | 05/23/2025     | Authorize up to 1 Percent of Issued Capital FOR Use in Restricted Stock Plans                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| TotalEnergies SE                      | F92124100 | 05/28/2025     | Authorize Capital Issuances FOR Use in Employee Stock Purchase Plans                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Chevron Corporation                   | 166764100 | 05/28/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Exxon Mobil Corporation               | 30231G102 | 05/28/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Haleon Plc                            | G4232K100 | 05/28/2025     | Approve Remuneration Report                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Meta PlatFORms, Inc.                  | 30303M102 | 05/28/2025     | Approve Omnibus Stock Plan                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Meta PlatFORms, Inc.                  | 30303M102 | 05/28/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Meta PlatFORms, Inc.                  | 30303M102 | 05/29/2025     | Advisory Vote on Say on Pay Frequency                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Sealed Air Corporation                | 81211K100 | 05/30/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Lowe's Companies, Inc.                | 548661107 | 06/02/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| UnitedHealth Group Incorporated       | 91324P102 | 06/02/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| UnitedHealth Group Incorporated       | 91324P102 | 06/02/2025     | Submit Severance Agreement to Shareholder Vote                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Warner Bros. Discovery, Inc.          | 934423104 | 06/02/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Warner Bros. Discovery, Inc.          | 934423104 | 06/03/2025     | Amend Qualified Employee Stock Purchase Plan                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| MFA Financial, Inc.                   | 55272X607 | 06/03/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          76279 |                0 | FOR         | 76279                                    | FOR                         |  |
| MFA Financial, Inc.                   | 55272X607 | 06/04/2025     | Amend Omnibus Stock Plan                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |          76279 |                0 | FOR         | 76279                                    | FOR                         |  |
| Devon Energy Corporation.             | 25179M103 | 06/05/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Netflix, Inc.                         | 64110L106 | 06/05/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Walmart Inc.                          | 931142103 | 06/05/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           1113 |                0 | FOR         | 1113                                     | FOR                         |  |
| Walmart Inc.                          | 931142103 | 06/06/2025     | Amend Omnibus Stock Plan                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |           1113 |                0 | FOR         | 1113                                     | FOR                         |  |
| Alphabet Inc.                         | 02079K305 | 06/06/2025     | Adjust Executive Compensation Metrics FOR Share Buybacks                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         132870 |                0 | Against     | 132870                                   | FOR                         |  |
| Brookfield Corporation                | 11271J107 | 06/11/2025     | Advisory Vote on Executive Compensation Approach                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         418059 |                0 | FOR         | 418059                                   | FOR                         |  |
| Caterpillar, Inc.                     | 149123101 | 06/11/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Freeport-McMoRan Inc.                 | 35671D857 | 06/11/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Freeport-McMoRan Inc.                 | 35671D857 | 06/11/2025     | Approve Omnibus Stock Plan                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| W. R. Berkley Corporation             | 084423102 | 06/16/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         396076 |                0 | FOR         | 396076                                   | FOR                         |  |
| Greystone Housing Impact Investors LP | 02364V206 | 06/17/2025     | Amend Omnibus Stock Plan                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| MetLife, Inc.                         | 59156R108 | 06/24/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Mastercard Incorporated               | 57636Q104 | 06/25/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          42625 |                0 | FOR         | 42625                                    | FOR                         |  |
| NVIDIA Corporation                    | 67066G104 | 06/27/2025     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Trisura Group Ltd.                    | 89679A209 | 06/27/2025     | Approve Equity Incentive Plan                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         434079 |                0 | FOR         | 434079                                   | FOR                         |  |
| Trisura Group Ltd.                    | 89679A209 | 06/27/2025     | Approve Escrowed Stock Plan                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         434079 |                0 | FOR         | 434079                                   | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** America First Investment Advisors, LLC

**By (Signature):** Andrew Holloway

**By (Printed Signature):** Andrew Holloway

**By (Title):** Chief Compliance Officer

**Date:** 08/25/2025