Avenir Corp.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Avenir Corp. reported 73 stock positions worth $960.1 million. Its top holding was Microsoft (MSFT) at 13.6% of the portfolio, followed by Markel (MKL, 9.3%) and Amazon.com (AMZN, 8.8%). Compared with Q2 2025, it opened 2 new positions, sold out of 3, added to 12 and reduced 24. The biggest buy was Adobe (ADBE, shares +42%) and the biggest sale American Tower (AMT, shares −3%).

Most Recent 13F
Q2 2026
Location
ALEXANDRIA, VA
CIK
0001033475
Portfolio Value
$960.1M (Q3 2025)
SEC Filing
0001033475-25-000009 ↗ filed Nov 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.0B Q2 2024 Q3 2024: $991.7M Q3 2024 Q4 2024: $976.8M Q4 2024 Q1 2025: $953.0M Q1 2025 Q2 2025: $972.9M Q2 2025 Q3 2025: $960.1M $960.1M Q3 2025 Q4 2025: $921.7M Q4 2025 Q1 2026: $820.5M Q1 2026 Q2 2026: $820.7M Q2 2026

Holdings 73 stocks · $960.1M
MSFT Microsoft Corp. 13.62% 252,418 $130.7M Reduce -5.0%
MKL Markel Group Inc. 9.31% 46,742 $89.3M Reduce -4.2%
AMZN Amazon.com Inc. 8.79% 384,194 $84.4M Reduce -4.0%
ORLY O'reilly Automotive Inc. 8.58% 764,083 $82.4M Reduce -3.8%
AMT American Tower Corp. 8.40% 419,466 $80.7M Reduce -3.1%
AAPL Apple Inc. 6.20% 233,792 $59.5M Reduce -3.4%
BRK.B Berkshire Hathaway Inc. Class B 5.80% 110,707 $55.7M Reduce -2.1%
CPRT Copart Inc. 5.22% 1,114,345 $50.1M Reduce -3.5%
ADBE Adobe Inc. 3.95% 107,525 $37.9M Add +42.2%
MA Mastercard Inc. Class A 3.72% 62,708 $35.7M Reduce -4.1%
LMT Lockheed Martin Corp. 3.63% 69,853 $34.9M Reduce -4.9%
OLED Universal Display Corp. 3.23% 216,045 $31.0M Reduce -3.2%
WAY Waystar Holding Corp. 2.85% 721,557 $27.4M Add +9.7%
AMTM Amentum Holdings Inc. 2.15% 862,453 $20.7M Reduce -3.7%
ERII Energy Recovery Inc. 1.65% 1,025,816 $15.8M Reduce -3.0%
BOKF Bok Financial Corporation 1.46% 125,500 $14.0M No change
V Visa Inc. Class A 1.44% 40,472 $13.8M Reduce -3.5%
SBAC SBA Communications Corp. 1.24% 61,493 $11.9M Reduce -1.6%
KMX Carmax Inc. 1.02% 218,839 $9.8M Reduce -2.7%
MPLX MPLX LP 0.97% 186,892 $9.3M Add +2.1%
ET Energy Transfer LP 0.81% 451,017 $7.7M Add +2.5%
CTSO Cytosorbents Corp. 0.49% 5,082,838 $4.7M Add +0.5%
BRK.A Berkshire Hathaway Inc. Class A 0.47% 6 $4.5M No change
KMI Kinder Morgan Inc. 0.43% 145,785 $4.1M No change
EPD Enterprise Products Partners 0.41% 125,478 $3.9M No change
ATOM Atomera Inc. 0.28% 604,385 $2.7M Add +5.2%
GOOG Alphabet Inc. Class C 0.27% 10,770 $2.6M No change
STWD Starwood Property Trust Inc. 0.26% 127,838 $2.5M Add +33.5%
EQIX Equinix Inc. 0.22% 2,741 $2.1M No change
AES AES Corp. 0.19% 138,942 $1.8M Reduce -27.1%
PHYS Sprott Physical Gold Trust 0.19% 60,310 $1.8M No change
AX Axos Financial Inc. 0.18% 20,790 $1.8M No change
AIG American International Group 0.17% 21,130 $1.7M Reduce -0.4%
OPRX Optimizerx Corp. 0.17% 77,260 $1.6M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.13% 24,440 $1.3M Reduce -1.0%
BRSP Brightspire Capital Inc. 0.13% 221,900 $1.2M No change
VOO Vanguard S&P 500 ETF 0.12% 1,930 $1.2M No change
ADPT Adaptive Biotechnologies 0.12% 76,365 $1.1M No change
BN Brookfield Corp. 0.11% 15,000 $1.0M No change
BSM Black Stone Minerals LP 0.10% 73,900 $971K No change
XOM Exxon Mobil Corp. 0.10% 8,345 $941K No change
PRVA Privia Health Group Inc. 0.10% 36,745 $915K No change
DBRG Digitalbridge Group Inc. 0.09% 73,139 $856K Reduce -37.6%
GOOD Gladstone Commercial Corp. 0.09% 66,988 $825K No change
BIP Brookfield Infrastructure Pa 0.08% 23,071 $759K No change
GLD SPDR Gold Shares 0.08% 2,114 $751K No change
LAMR Lamar Advertising Co. Class A 0.07% 5,830 $714K Add +51.0%
COHR Coherent Corp. 0.07% 6,110 $658K No change
ENVX Enovix Corp. 0.07% 62,828 $626K Add +32.3%
CCC CCC Intelligent Solutions Ho 0.06% 65,772 $599K Reduce -0.2%
ANET Arista Networks Inc. 0.05% 3,370 $491K No change
NEWT Newtekone Inc. 0.05% 40,800 $467K Add +7.9%
COST Costco Wholesale Corp. 0.05% 500 $463K No change
VABK Virginia National Bankshares 0.04% 10,800 $419K No change
LHX L3HARRIS Technologies Inc. 0.04% 1,357 $414K No change
INTC Intel Corp. 0.04% 11,393 $382K Reduce -8.1%
ORCL Oracle Corp. 0.04% 1,350 $380K No change
WMT Walmart Inc. 0.04% 3,588 $370K No change
ABBV Abbvie Inc. 0.04% 1,462 $339K No change
LULU Lululemon Athletica Inc. 0.03% 1,837 $327K Reduce -15.5%
CCI Crown Castle Inc. 0.03% 3,240 $313K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 2,646 $303K No change
GE General Electric filed as GE AEROSPACE 0.03% 925 $278K No change
RTX RTX Corp. 0.03% 1,634 $273K No change
DLTR Dollar Tree Inc. 0.03% 2,860 $270K No change
TRGP Targa Resources Corp. 0.03% 1,602 $268K No change
PNC PNC Financial Services Group 0.03% 1,266 $254K No change
PCAR Paccar Inc. 0.02% 2,250 $221K No change
ABT Abbott Laboratories 0.02% 1,553 $208K Add +1.2%
QQQ Invesco QQQ Trust Series 1 0.02% 344 $207K New
ENB Enbridge Inc. 0.02% 3,975 $201K New
DENN Denny's Corp. 0.02% 30,040 $157K Reduce -2.1%
TPVG Triplepoint Venture Growth B 0.01% 11,000 $63K Add +10.0%

Portfolio Sells Q2 2025 → Q3 2025
AMT American Tower Corp. Reduce -3.1% 8.40% −1.43
MKL Markel Group Inc. Reduce -4.2% 9.31% −0.71
CPRT Copart Inc. Reduce -3.5% 5.22% −0.60
KMX Carmax Inc. Reduce -2.7% 1.02% −0.53
OLED Universal Display Corp. Reduce -3.2% 3.23% −0.31
SBAC SBA Communications Corp. Reduce -1.6% 1.24% −0.27
AMZN Amazon.com Inc. Reduce -4.0% 8.79% −0.24
V Visa Inc. Class A Reduce -3.5% 1.44% −0.09
MA Mastercard Inc. Class A Reduce -4.1% 3.72% −0.06
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.06
DBRG Digitalbridge Group Inc. Reduce -37.6% 0.09% −0.04
AMTM Amentum Holdings Inc. Reduce -3.7% 2.15% −0.02
BHRB Burke & Herbert Financial SE Sold out 0.00% −0.02
LULU Lululemon Athletica Inc. Reduce -15.5% 0.03% −0.02
AES AES Corp. Reduce -27.1% 0.19% −0.02
AIG American International Group Reduce -0.4% 0.17% −0.01
LUNA Luna Innovations Inc. Sold out 0.00% −0.01
CCC CCC Intelligent Solutions Ho Reduce -0.2% 0.06% −0.00
DENN Denny's Corp. Reduce -2.1% 0.02% +0.00
BAC Bank of America Corp. Reduce -1.0% 0.13% +0.01
INTC Intel Corp. Reduce -8.1% 0.04% +0.01
MSFT Microsoft Corp. Reduce -5.0% 13.62% +0.04
LMT Lockheed Martin Corp. Reduce -4.9% 3.63% +0.14
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.1% 5.80% +0.15
ERII Energy Recovery Inc. Reduce -3.0% 1.65% +0.26
AAPL Apple Inc. Reduce -3.4% 6.20% +1.10
ORLY O'reilly Automotive Inc. Reduce -3.8% 8.58% +1.22

Portfolio Buys Q2 2025 → Q3 2025
ADBE Adobe Inc. Add +42.2% 3.95% +0.94
WAY Waystar Holding Corp. Add +9.7% 2.85% +0.09
STWD Starwood Property Trust Inc. Add +33.5% 0.26% +0.06
LAMR Lamar Advertising Co. Class A Add +51.0% 0.07% +0.03
QQQ Invesco QQQ Trust Series 1 New 0.02% +0.02
ENB Enbridge Inc. New 0.02% +0.02
ENVX Enovix Corp. Add +32.3% 0.07% +0.01
NEWT Newtekone Inc. Add +7.9% 0.05% +0.00
MPLX MPLX LP Add +2.1% 0.97% +0.00
ABT Abbott Laboratories Add +1.2% 0.02% +0.00
TPVG Triplepoint Venture Growth B Add +10.0% 0.01% −0.00
ET Energy Transfer LP Add +2.5% 0.81% −0.01
ATOM Atomera Inc. Add +5.2% 0.28% −0.02
CTSO Cytosorbents Corp. Add +0.5% 0.49% −0.17

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 79$820.7MMSFT, MKL, AMZN, ORLY, AMT
Q1 2026 72$820.5MMSFT, MKL, AMZN, AMT, ORLY
Q4 2025 71$921.7MMSFT, MKL, AMZN, AMT, ORLY
Q3 2025 73$960.1MMSFT, MKL, AMZN, ORLY, AMT
Q2 2025 74$972.9MMSFT, MKL, AMT, AMZN, ORLY
Q1 2025 70$953.0MMSFT, AMT, MKL, ORLY, AMZN
Q4 2024 69$976.8MMSFT, MKL, AMZN, AMT, ORLY
Q3 2024 66$991.7MMSFT, AMT, MKL, AMZN, ORLY
Q2 2024 67$1.0BMSFT, MKL, AMT, AMZN, ORLY
Q1 2024 66$1.2BMSFT, MKL, AMT, AMZN, CPRT