PANERA BREAD CO

CUSIP: 69840W108 Class: CL A

America First Investment Advisors, LLC's Holding History (CIK: 0001308778)

Note: Option positions (PUT/CALL) are excluded.

Q1 2014
Shares 200 Value ($000) $35 Avg Close — Range —
Q4 2013
Shares 200 Value ($000) $35 Avg Close — Range —
Q3 2013
Shares 200 Value ($000) $32 Avg Close — Range —