# EDGAR Filing Document

**Accession Number:** 0001308778
**File Stem:** 0001308778-23-000002
**Filing Date:** 2023-1
**Character Count:** 12224
**Document Hash:** e17ddcc02f34d5f48716bb28ec79869b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001308778-23-000002.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001308778-23-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**EFFECTIVENESS DATE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** America First Investment Advisors, LLC
- **CENTRAL INDEX KEY:** 0001308778
- **IRS NUMBER:** 476197829
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11259
- **FILM NUMBER:** 23571643

**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 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** America First Investment Advisors LLC<br>**Address:** 10050 REGENCY CIRCLE<br>SUITE 515<br>OMAHA, NE 68114

**Form 13F File Number:** 028-11259

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Eric Ball<br>**Title:** CEO and Chief Compliance Officer<br>**Phone:** (402) 991-0994

**Signature, Place, and Date of Signing:**

Eric Ball  Omaha, NE  01-31-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 94

**Form 13F Information Table Value Total:** $338973

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

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|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Apple Inc. | COM | 037833100 |  | 867 | 6674 | SH |  | SOLE | 0 | 6674 | 0 | 0 |
| AbbVie Inc | COM | 00287Y109 |  | 48 | 300 | SH |  | SOLE | 0 | 300 | 0 | 0 |
| Abbott Laboratories | COM | 002824100 |  | 17871 | 162777 | SH |  | SOLE | 0 | 155360 | 0 | 7417 |
| Archer-Daniels-Midland | COM | 039483102 |  | 54 | 581 | SH |  | SOLE | 0 | 581 | 0 | 0 |
| Automatic Data Processin | COM | 053015103 |  | 20905 | 87520 | SH |  | SOLE | 0 | 82963 | 0 | 4557 |
| Agnico Eagle Mines Ltd | COM | 008474108 |  | 77 | 1490 | SH |  | SOLE | 0 | 1490 | 0 | 0 |
| Albemarle Corp. | COM | 012653101 |  | 3 | 15 | SH |  | SOLE | 0 | 15 | 0 | 0 |
| Amazon.com Inc. | COM | 023135106 |  | 11059 | 131656 | SH |  | SOLE | 0 | 125666 | 0 | 5990 |
| Brookfield Asset Managem | COM | 113004105 |  | 2927 | 102105 | SH |  | SOLE | 0 | 96443 | 0 | 5662 |
| Booking Holdings Inc. | COM | 09857L108 |  | 6 | 3 | SH |  | SOLE | 0 | 3 | 0 | 0 |
| Brookfield Corp. | CL A LTD VT S | 11271J107 |  | 12487 | 396918 | SH |  | SOLE | 0 | 377399 | 0 | 19519 |
| Berkshire Hathaway A | CL A | 084670108 |  | 10312 | 22 | SH |  | SOLE | 0 | 21 | 0 | 1 |
| Berkshire Hathaway B | CL B | 084670702 |  | 3872 | 12535 | SH |  | SOLE | 0 | 12072 | 0 | 463 |
| Crown Castle Intl Corp. | COM | 22822V101 |  | 8 | 62 | SH |  | SOLE | 0 | 62 | 0 | 0 |
| Clorox Co. | COM | 189054109 |  | 10540 | 75110 | SH |  | SOLE | 0 | 75110 | 0 | 0 |
| CME Group Inc. | COM CL A | 12572Q105 |  | 15013 | 89278 | SH |  | SOLE | 0 | 84250 | 0 | 5028 |
| ConocoPhillips | COM | 20825C104 |  | 147 | 1249 | SH |  | SOLE | 0 | 1249 | 0 | 0 |
| Cardiff Oncology Inc | COM | 14147L108 |  | 6 | 4000 | SH |  | SOLE | 0 | 0 | 0 | 4000 |
| CVS Corp. | COM | 126650100 |  | 18 | 190 | SH |  | SOLE | 0 | 190 | 0 | 0 |
| Chevron Corp. | COM | 166764100 |  | 606 | 3378 | SH |  | SOLE | 0 | 3378 | 0 | 0 |
| Diageo PLC | SPON ADR | 25243Q205 |  | 16338 | 91686 | SH |  | SOLE | 0 | 86801 | 0 | 4885 |
| Walt Disney Co. | COM | 254687106 |  | 108 | 1243 | SH |  | SOLE | 0 | 1243 | 0 | 0 |
| Devon Energy Corp. | COM | 25179M103 |  | 9 | 151 | SH |  | SOLE | 0 | 151 | 0 | 0 |
| iShares Trust MSCI Denma | ETF | 46429B523 |  | 19 | 200 | SH |  | SOLE | 0 | 200 | 0 | 0 |
| Emerson Electric Co. | COM | 291011104 |  | 14 | 150 | SH |  | SOLE | 0 | 150 | 0 | 0 |
| Enbridge Inc. | COM | 29250N105 |  | 16428 | 420150 | SH |  | SOLE | 0 | 398267 | 0 | 21883 |
| Invesco Russell 1000 Equ | ETF | 46138E420 |  | 11 | 282 | SH |  | SOLE | 0 | 282 | 0 | 0 |
| Diamondback Energy | COM | 25278X109 |  | 113 | 827 | SH |  | SOLE | 0 | 827 | 0 | 0 |
| Fifth Third Bancorp. | COM | 316773100 |  | 0 | 6 | SH |  | SOLE | 0 | 6 | 0 | 0 |
| Fresenius Medical Care A | SPONSORED ADR | 358029106 |  | 9 | 538 | SH |  | SOLE | 0 | 538 | 0 | 0 |
| Franco-Nevada Corp. | COM | 351858105 |  | 18718 | 137149 | SH |  | SOLE | 0 | 130437 | 0 | 6712 |
| General Dynamics Corp. | COM | 369550108 |  | 412 | 1662 | SH |  | SOLE | 0 | 1662 | 0 | 0 |
| Greystone Housing Impact | BEN UNIT CTF | 02364V206 |  | 2144 | 123200 | SH |  | SOLE | 0 | 0 | 0 | 123200 |
| Alphabet Inc. - Cl A | CL A | 02079K305 |  | 16548 | 187557 | SH |  | SOLE | 0 | 178005 | 0 | 9552 |
| Goldman Sachs Group Inc. | COM | 38141G104 |  | 3 | 10 | SH |  | SOLE | 0 | 10 | 0 | 0 |
| GlaxoSmithKline Plc | ADR | 37733W204 |  | 14 | 400 | SH |  | SOLE | 0 | 400 | 0 | 0 |
| Haleon PLC ADR | COM | 405552100 |  | 4 | 500 | SH |  | SOLE | 0 | 500 | 0 | 0 |
| Hershey Foods Corp. | COM | 427866108 |  | 770 | 3327 | SH |  | SOLE | 0 | 3327 | 0 | 0 |
| iShares Russell Midcap G | ETF | 464287481 |  | 17 | 202 | SH |  | SOLE | 0 | 202 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 17829 | 100926 | SH |  | SOLE | 0 | 95850 | 0 | 5076 |
| JP Morgan Chase  Co. | COM | 46625H100 |  | 282 | 2100 | SH |  | SOLE | 0 | 2100 | 0 | 0 |
| Kinder Morgan Inc. | COM | 49456B101 |  | 3 | 160 | SH |  | SOLE | 0 | 160 | 0 | 0 |
| Coca Cola Co. | COM | 191216100 |  | 1008 | 15848 | SH |  | SOLE | 0 | 15848 | 0 | 0 |
| Mastercard Inc. | CL A | 57636Q104 |  | 14705 | 42289 | SH |  | SOLE | 0 | 40083 | 0 | 2206 |
| McDonalds Corp. | COM | 580135101 |  | 47 | 180 | SH |  | SOLE | 0 | 180 | 0 | 0 |
| Mondelez Intl Inc Cl A | CL A | 609207105 |  | 77 | 1150 | SH |  | SOLE | 0 | 1150 | 0 | 0 |
| Medtronic Inc. | SHS | G5960L103 |  | 54 | 695 | SH |  | SOLE | 0 | 695 | 0 | 0 |
| MetLife Inc. | COM | 59156R108 |  | 38 | 530 | SH |  | SOLE | 0 | 530 | 0 | 0 |
| Meta Platforms Inc. | CL A | 30303M102 |  | 5 | 40 | SH |  | SOLE | 0 | 40 | 0 | 0 |
| MFA Financial Inc. | COM | 55272X607 |  | 205 | 20838 | SH |  | SOLE | 0 | 0 | 0 | 20838 |
| 3M Co. | COM | 88579Y101 |  | 13 | 106 | SH |  | SOLE | 0 | 106 | 0 | 0 |
| Merck  Co Inc. | COM | 58933Y105 |  | 127 | 1149 | SH |  | SOLE | 0 | 1149 | 0 | 0 |
| Microsoft Corp. | COM | 594918104 |  | 473 | 1972 | SH |  | SOLE | 0 | 1972 | 0 | 0 |
| Micron Technology Inc. | COM | 595112103 |  | 167 | 3335 | SH |  | SOLE | 0 | 3335 | 0 | 0 |
| Netflix Inc. | COM | 64110L106 |  | 38 | 128 | SH |  | SOLE | 0 | 128 | 0 | 0 |
| New Gold Inc. | COM | 644535106 |  | 22 | 22660 | SH |  | SOLE | 0 | 660 | 0 | 22000 |
| Organon  Co | COM | 68622V106 |  | 3 | 109 | SH |  | SOLE | 0 | 109 | 0 | 0 |
| Omega Healthcare Investo | COM | 681936100 |  | 11 | 400 | SH |  | SOLE | 0 | 400 | 0 | 0 |
| ONEOK Inc. | COM | 682680103 |  | 79 | 1200 | SH |  | SOLE | 0 | 1200 | 0 | 0 |
| Universal Display Corp | COM | 91347P105 |  | 20 | 183 | SH |  | SOLE | 0 | 183 | 0 | 0 |
| Oracle Corp. | COM | 68389X105 |  | 94 | 1153 | SH |  | SOLE | 0 | 1153 | 0 | 0 |
| Occidental Petroleum Cor | COM | 674599105 |  | 23 | 358 | SH |  | SOLE | 0 | 358 | 0 | 0 |
| Paramount Global | Class B COM | 92556H206 |  | 7 | 432 | SH |  | SOLE | 0 | 432 | 0 | 0 |
| Pepsico Inc. | COM | 713448108 |  | 509 | 2819 | SH |  | SOLE | 0 | 2819 | 0 | 0 |
| Pfizer Inc. | COM | 717081103 |  | 20336 | 396885 | SH |  | SOLE | 0 | 375617 | 0 | 21268 |
| Procter  Gamble | COM | 742718109 |  | 681 | 4492 | SH |  | SOLE | 0 | 4492 | 0 | 0 |
| Invesco Global Water ETF | ETF | 46138E651 |  | 13 | 400 | SH |  | SOLE | 0 | 400 | 0 | 0 |
| Palantir Technologies In | COM | 69608A108 |  | 10870 | 1693164 | SH |  | SOLE | 0 | 1604404 | 0 | 88760 |
| Phillips 66 | COM | 718546104 |  | 749 | 7198 | SH |  | SOLE | 0 | 7198 | 0 | 0 |
| Royal Gold Inc. | COM | 780287108 |  | 17888 | 158692 | SH |  | SOLE | 0 | 150599 | 0 | 8093 |
| Reliance Steel  Aluminu | COM | 759509102 |  | 20 | 100 | SH |  | SOLE | 0 | 100 | 0 | 0 |
| Invesco S 500 Equal We | ETF | 46137V357 |  | 280 | 1983 | SH |  | SOLE | 0 | 1983 | 0 | 0 |
| Charles Schwab Corp. | COM | 808513105 |  | 83 | 1000 | SH |  | SOLE | 0 | 1000 | 0 | 0 |
| Sealed Air Corp. | COM | 81211K100 |  | 10 | 200 | SH |  | SOLE | 0 | 200 | 0 | 0 |
| iShares 1-3 Yr Treas. | ETF | 464287457 |  | 16438 | 202510 | SH |  | SOLE | 0 | 194773 | 0 | 7737 |
| SLB | COM | 806857108 |  | 18878 | 353125 | SH |  | SOLE | 0 | 334574 | 0 | 18551 |
| SPDR S 500 | TR UNIT | 78462F103 |  | 360 | 941 | SH |  | SOLE | 0 | 941 | 0 | 0 |
| AT Inc. | COM | 00206R102 |  | 10 | 541 | SH |  | SOLE | 0 | 541 | 0 | 0 |
| iShares TIPS Bond | ETF | 464287176 |  | 415 | 3899 | SH |  | SOLE | 0 | 3899 | 0 | 0 |
| Thermo Fisher Scientific | COM | 883556102 |  | 55 | 100 | SH |  | SOLE | 0 | 100 | 0 | 0 |
| Tesla Inc. | COM | 88160R101 |  | 137 | 1110 | SH |  | SOLE | 0 | 1110 | 0 | 0 |
| Tyson Foods Inc. | CL A | 902494103 |  | 22 | 350 | SH |  | SOLE | 0 | 350 | 0 | 0 |
| Union Pacific Corp. | COM | 907818108 |  | 60 | 290 | SH |  | SOLE | 0 | 290 | 0 | 0 |
| US Bancorp. | COM | 902973304 |  | 2166 | 49670 | SH |  | SOLE | 0 | 49670 | 0 | 0 |
| Visa Inc | COM CL A | 92826C839 |  | 14069 | 67719 | SH |  | SOLE | 0 | 64213 | 0 | 3506 |
| Verizon Communications | COM | 92343V104 |  | 10 | 253 | SH |  | SOLE | 0 | 253 | 0 | 0 |
| Warner Bros Discovery In | COM | 934423104 |  | 1 | 61 | SH |  | SOLE | 0 | 61 | 0 | 0 |
| Wells Fargo Co. | COM | 949746101 |  | 23 | 561 | SH |  | SOLE | 0 | 561 | 0 | 0 |
| Williams Cos. Inc. | COM | 969457100 |  | 29 | 883 | SH |  | SOLE | 0 | 883 | 0 | 0 |
| Wheaton Precious Metals | COM | 962879102 |  | 19 | 480 | SH |  | SOLE | 0 | 480 | 0 | 0 |
| WR Berkley Corp. | COM | 084423102 |  | 20951 | 288700 | SH |  | SOLE | 0 | 272901 | 0 | 15799 |
| SPDR Energy Select Secto | ETF | 81369Y506 |  | 31 | 360 | SH |  | SOLE | 0 | 360 | 0 | 0 |
| Xylem Inc. | COM | 98419M100 |  | 22 | 200 | SH |  | SOLE | 0 | 200 | 0 | 0 |
| Zoetis Inc. Cl A | CL A | 98978V103 |  | 3 | 23 | SH |  | SOLE | 0 | 23 | 0 | 0 |

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