AF
America First Investment Advisors, LLC 13F Holdings Tracker (Q2 2026)
America First Investment Advisors, LLCCIK: 0001308778
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$538.9M
Reporting period: 2026-06-30 · Number of holdings: 45
America First Investment Advisors, LLC disclosed 45 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $538.9M and a quarterly turnover rate of 19.4%.
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Personality snowflake
- Concentration
- 19.34
- Portfolio Stability
- 19.4
- Momentum
- 100
- Sector conviction
- 50.73
- Diversification
- 90
- Sizing Uniformity
- 89.04
America First Investment Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.048 — mathematically equivalent to about 21 equally-sized positions, well below its 45 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.10), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.4 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out PFE
New buy VRSK
Trim CME
+1.0% -$6.9M
Add GOOGL
-1.9% $6.5M
Trim RGLD
+0.3% -$5.8M
Trim FNV
-0.2% -$4.4M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 8.16% | -0.11% | -0.27% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 6.71% | +1.18% | -1.93% | |
| 3 | JNJ | Johnson & Johnson | Stock-Healthcare | 6.55% | +0.16% | -0.86% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 5.42% | +0.61% | -0.93% | |
| 5 | ENB | Enbridge Inc | Stock-Energy | 5.24% | -0.03% | -0.29% | |
| 6 | WRB | Wr Berkley CORP | Stock-Financials | 5.02% | +0.32% | +0.86% | |
| 7 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 4.94% | +0.10% | +0.60% | |
| 8 | SLB | Slb LTD | Stock-Energy | 4.88% | -0.61% | -1.19% | |
| 9 | BN | Brookfield CORP | Stock-Financials | 4.87% | +0.22% | +0.03% | |
| 10 | ADP | Automatic Data Processing | Stock-Tech | 4.81% | +0.47% | +1.02% | |
| 11 | V | Visa Inc-class A Shares | Stock-Financials | 4.69% | +0.57% | +0.80% | |
| 12 | FNV | Franco-nevada CORP | Stock-Materials | 4.40% | -0.84% | -0.21% | |
| 13 | VRSK | Verisk Analytics Inc | Stock-Industrials | 4.36% | +4.36% | NEW | |
| 14 | MA | Mastercard Inc - A | Stock-Financials | 4.31% | +0.15% | +1.21% | |
| 15 | ABT | Abbott Laboratories | Stock-Healthcare | 4.02% | -0.22% | +7.84% | |
| 16 | RGLD | Royal Gold Inc | Stock-Materials | 3.98% | -1.11% | +0.28% | |
| 17 | CME | Cme Group Inc | Stock-Financials | 3.93% | -1.31% | +0.95% | |
| 18 | FISV | Fiserv Inc | Stock-Other | 3.73% | -0.45% | +2.02% | |
| 19 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 2.38% | +0.02% | +0.15% | |
| 20 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 1.39% | +0.32% | +25.00% | |
| 21 | CLX | Clorox Company | Stock-Consumer Staples | 1.33% | -0.12% | — | |
| 22 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.74% | -0.12% | -17.11% | |
| 23 | MU | Micron Technology Inc | Stock-Tech | 0.71% | +0.50% | — | |
| 24 | USB | US Bancorp | Stock-Financials | 0.61% | +0.08% | — | |
| 25 | AAPL | Apple Inc | Stock-Tech | 0.44% | +0.05% | -1.77% | |
| 26 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.25% | +0.01% | — | |
| 27 | PSX | Phillips 66 | Stock-Energy | 0.21% | -0.01% | — | |
| 28 | ZONE | Cleancore Solutions Inc-cl B | Stock-Other | 0.19% | +0.19% | +2081.47% | |
| 29 | MSFT | Microsoft CORP | Stock-Tech | 0.16% | — | +1.84% | |
| 30 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.15% | +0.01% | — | |
| 31 | GD | General Dynamics CORP | Stock-Industrials | 0.13% | +0.01% | — | |
| 32 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.13% | +0.01% | -4.62% | |
| 33 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.12% | — | — | |
| 34 | CASY | Casey's General Stores Inc | Stock-Consumer Disc | 0.12% | +0.01% | — | |
| 35 | CVX | Chevron CORP | Stock-Energy | 0.11% | -0.04% | -2.90% | |
| 36 | CSCO | Cisco Systems Inc | Stock-Tech | 0.11% | +0.11% | NEW | |
| 37 | HSY | Hershey Co/the | Stock-Consumer Staples | 0.10% | -0.02% | — | |
| 38 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.10% | +0.02% | +4.41% | |
| 39 | WMT | Walmart Inc | Stock-Consumer Staples | 0.09% | +0.09% | NEW | |
| 40 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.08% | — | -1.32% | |
| 41 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.08% | +0.01% | — | |
| 42 | MFA | Mfa Financial Inc | Stock-Other | 0.07% | — | — | |
| 43 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.07% | -0.01% | — | |
| 44 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.04% | +0.04% | NEW | |
| 45 | NVDA | Nvidia CORP | Stock-Tech | 0.04% | +0.04% | NEW |
Portfolio Performance
Performance for Q4 2026
+2.3%
Performance Last 4 Quarters
+12.8%
- Stdev
- +13%
- Beta
- +0.57
- Alpha
- +13.5%
- Max Drawdown
- -6.3%
- Annualized Perf
- +28.9%
- Batting Avg vs S&P
- +55.6%
- Sortino
- +4.62
- Stutzer
- +0.59
- Treynor
- +0.46
- Sterling
- +2.11
- Calmar
- +4.57
- Information Ratio
- +0.32
- Tracking Error
- +12.2%
- Stdev Down
- +5.7%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +49.9%
- Worst 12 Months
- +6.5%
- Efficiency Ratio
- +0.91
- Sharpe
- +2.03
- Stdev Sectors
- +8%
- Skewness
- -0.07
- Kurtosis
- +0.31
- Upside Potential
- +5.94
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 45 | $538.9M | 19 | ||
| 2026 Q1 | 41 | $536.5M | 12 | ||
| 2025 Q4 | 42 | $549.1M | 14 | ||
| 2025 Q3 | 44 | $538.3M | 16 | ||
| 2025 Q2 | 43 | $501.4M | 0 | ||
| 2025 Q1 | 42 | $474.1M | 100 | ||
| 2024 Q4 | 42 | $457.6M | 0 | ||
| 2024 Q3 | 42 | $445.6M | 0 | ||
| 2024 Q2 | 80 | $406.2M | 0 | ||
| 2024 Q1 | 85 | $411.3M | 0 | ||
| 2023 Q4 | 98 | $382.5M | 0 | ||
| 2023 Q3 | 96 | $360.5M | 0 | ||
| 2023 Q2 | 98 | $372.0M | 0 | ||
| 2023 Q1 | 99 | $349.2M | 0 | ||
| 2022 Q4 | 94 | $339.0M | 0 | ||
| 2022 Q3 | 82 | $287.2M | 0 | ||
| 2022 Q2 | 72 | $310.7M | 0 | ||
| 2022 Q1 | 74 | $345.7M | 0 | ||
| 2021 Q4 | 75 | $353.9M | 0 | ||
| 2021 Q3 | 82 | $328.9M | 0 | ||
| 2021 Q2 | 77 | $341.4M | 100 | ||
| 2021 Q1 | 77 | $329.6M | 19 | ||
| 2020 Q4 | 77 | $330.4M | 11 | ||
| 2020 Q3 | 78 | $313.1M | 11 | ||
| 2020 Q2 | 83 | $315.2M | 15 | ||
| 2020 Q1 | 85 | $275.5M | 32 | ||
| 2019 Q4 | 83 | $340.3M | 6 | ||
| 2019 Q3 | 88 | $331.7M | 6 | ||
| 2019 Q2 | 88 | $329.1M | 8 | ||
| 2019 Q1 | 93 | $326.1M | 11 | ||
| 2018 Q4 | 93 | $299.0M | 11 | ||
| 2018 Q3 | 97 | $316.6M | 10 | ||
| 2018 Q2 | 99 | $307.2M | 14 | ||
| 2018 Q1 | 105 | $270.3M | 11 | ||
| 2017 Q4 | 131 | $292.4M | 17 | ||
| 2017 Q3 | 105 | $278.2M | 14 | ||
| 2017 Q2 | 109 | $268.4M | 12 | ||
| 2017 Q1 | 147 | $267.0M | 21 | ||
| 2016 Q4 | 110 | $245.5M | 9 | ||
| 2016 Q3 | 147 | $237.6M | 12 | ||
| 2016 Q2 | 109 | $239.4M | 10 | ||
| 2016 Q1 | 145 | $226.1M | 18 | ||
| 2015 Q4 | 114 | $222.9M | 24 | ||
| 2015 Q3 | 124 | $213.1M | 17 | ||
| 2015 Q2 | 119 | $228.2M | 6 | ||
| 2015 Q1 | 131 | $232.8M | 18 | ||
| 2014 Q4 | 146 | $236.0M | 26 | ||
| 2014 Q3 | 168 | $222.2M | 12 | ||
| 2014 Q2 | 162 | $223.6M | 15 | ||
| 2014 Q1 | 174 | $212.3M | 5 | ||
| 2013 Q4 | 199 | $214.1M | 8 | ||
| 2013 Q3 | 196 | $199.7M | 12 | ||
| 2013 Q2 | 158 | $188.9M | — |
Holding changes this quarter
America First Investment Advisors, LLC's most significant position changes for 2026-06-30: Sold out: Pfizer Inc (PFE); New buy: Verisk Analytics Inc (VRSK); New buy: Cisco Systems Inc (CSCO); New buy: Walmart Inc (WMT); New buy: Starbucks CORP (SBUX).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VRSK | Verisk Analytics Inc | +4.4% | NEW | New buy |
| 2 | GOOGL | Alphabet Inc-cl A | +1.2% | -1.93% | Trim |
| 3 | AMZN | Amazon.com Inc | +0.6% | -0.93% | Trim |
| 4 | V | Visa Inc-class A Shares | +0.6% | +0.80% | Add |
| 5 | MU | Micron Technology Inc | +0.5% | — | Unchanged |
| 6 | ADP | Automatic Data Processing | +0.5% | +1.02% | Add |
| 7 | WRB | Wr Berkley CORP | +0.3% | +0.86% | Add |
| 8 | BRK-A | Berkshire Hathaway Inc-cl A | +0.3% | +25.00% | Add |
| 9 | BN | Brookfield CORP | +0.2% | +0.03% | Add |
| 10 | ZONE | Cleancore Solutions Inc-cl B | +0.2% | +2081.47% | Add |
| 11 | JNJ | Johnson & Johnson | +0.2% | -0.86% | Trim |
| 12 | MA | Mastercard Inc - A | +0.2% | +1.21% | Add |
| 13 | CSCO | Cisco Systems Inc | +0.1% | NEW | New buy |
| 14 | TMO | Thermo Fisher Scientific Inc | +0.1% | +0.60% | Add |
| 15 | WMT | Walmart Inc | +0.1% | NEW | New buy |
| 16 | USB | US Bancorp | +0.1% | — | Unchanged |
| 17 | AAPL | Apple Inc | +0.1% | -1.77% | Trim |
| 18 | SBUX | Starbucks CORP | 0% | NEW | New buy |
| 19 | NVDA | Nvidia CORP | 0% | NEW | New buy |
| 20 | BAM | Brookfield Asset Mgmt-a | 0% | +0.15% | Add |
| 21 | RSP | Invesco S&p 500 Equal Weight | 0% | +4.41% | Add |
| 22 | KO | Coca-cola Co/the | 0% | — | Unchanged |
| 23 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 24 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -4.62% | Trim |
| 25 | CASY | Casey's General Stores Inc | 0% | — | Unchanged |
| 26 | TSLA | Tesla Inc | 0% | — | Unchanged |
| 27 | GD | General Dynamics CORP | 0% | — | Unchanged |
| 28 | MSFT | Microsoft CORP | — | +1.84% | Add |
| 29 | META | Meta Platforms Inc-class A | — | -1.32% | Trim |
| 30 | PG | Procter & Gamble Co/the | — | — | Unchanged |
| 31 | MFA | Mfa Financial Inc | — | — | Unchanged |
| 32 | PSX | Phillips 66 | 0% | — | Unchanged |
| 33 | PEP | Pepsico Inc | 0% | — | Unchanged |
| 34 | HSY | Hershey Co/the | 0% | — | Unchanged |
| 35 | ENB | Enbridge Inc | 0% | -0.29% | Trim |
| 36 | CVX | Chevron CORP | 0% | -2.90% | Trim |
| 37 | SHY | Ishares 1-3 Year Treasury Bo | -0.1% | -0.27% | Trim |
| 38 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -17.11% | Trim |
| 39 | CLX | Clorox Company | -0.1% | — | Unchanged |
| 40 | ABT | Abbott Laboratories | -0.2% | +7.84% | Add |
| 41 | FISV | Fiserv Inc | -0.5% | +2.02% | Add |
| 42 | SLB | Slb LTD | -0.6% | -1.19% | Trim |
| 43 | FNV | Franco-nevada CORP | -0.8% | -0.21% | Trim |
| 44 | RGLD | Royal Gold Inc | -1.1% | +0.28% | Add |
| 45 | CME | Cme Group Inc | -1.3% | +0.95% | Add |
| 46 | PFE | Pfizer Inc | -4.7% | EXIT | Sold out |
Filing History
FAQ
What is America First Investment Advisors, LLC and what type of investor is it?
America First Investment Advisors, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $538.9M, spread across 45 disclosed positions.
What are America First Investment Advisors, LLC's largest equity positions?
Based on the latest 13F filing, America First Investment Advisors, LLC's top holdings by market value are:
1. Ishares 1-3 Year Treasury Bo (SHY) — $44.0M (8.2%)
2. Alphabet Inc-cl A (GOOGL) — $36.2M (6.7%)
3. Johnson & Johnson (JNJ) — $35.3M (6.5%)
4. Amazon.com Inc (AMZN) — $29.2M (5.4%)
5. Enbridge Inc (ENB) — $28.2M (5.2%)
What changes did America First Investment Advisors, LLC make in its most recent portfolio filing?
In the latest reported quarter, America First Investment Advisors, LLC made 33 notable position adjustments: 5 new positions were initiated, 15 existing holdings were added to, 12 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Pfizer Inc (PFE); New buy: Verisk Analytics Inc (VRSK); New buy: Cisco Systems Inc (CSCO); New buy: Walmart Inc (WMT); New buy: Starbucks CORP (SBUX)
What sectors does America First Investment Advisors, LLC focus on?
America First Investment Advisors, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 30.4%
• Health Care: 18.1%
• Energy: 12.2%
• Materials: 9.8%
• Communication Services: 7.9%
• Information Technology: 7.3%
Investment Profile
America First Investment Advisors, LLC returned an annualized 28.9% over the trailing 36 months — outperforming the S&P 500 by 13.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.57 (less volatile than the market) and a 56% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 30.4% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 19 over the past 4 quarters — a shift toward more active trading.
It has added to its JNJ position over the past two quarters (+$5.1M, now $35.3M), while trimming RGLD over the same stretch (-$10.9M, still holding $21.5M).
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Developer Access
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