Avenir Corp.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Avenir Corp. reported 71 stock positions worth $921.7 million. Its top holding was Microsoft (MSFT) at 12.9% of the portfolio, followed by Markel (MKL, 10.8%) and Amazon.com (AMZN, 9.5%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 13 and reduced 17. The biggest buy was Adobe (ADBE, shares +6%) and the biggest sale O'reilly Automotive (ORLY, shares −1%).

Most Recent 13F
Q2 2026
Location
ALEXANDRIA, VA
CIK
0001033475
Portfolio Value
$921.7M (Q4 2025)
SEC Filing
0001033475-26-000002 ↗ filed Feb 13, 2026

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 Q3 2025 Q4 2025: $921.7M $921.7M Q4 2025 Q1 2026: $820.5M Q1 2026 Q2 2026: $820.7M Q2 2026

Holdings 71 stocks · $921.7M
MSFT Microsoft Corp. 12.88% 245,425 $118.7M Reduce -2.8%
MKL Markel Group Inc. 10.82% 46,372 $99.7M Reduce -0.8%
AMZN Amazon.com Inc. 9.49% 378,735 $87.4M Reduce -1.4%
AMT American Tower Corp. 7.96% 417,712 $73.3M Reduce -0.4%
ORLY O'reilly Automotive Inc. 7.50% 757,632 $69.1M Reduce -0.8%
AAPL Apple Inc. 6.80% 230,558 $62.7M Reduce -1.4%
BRK.B Berkshire Hathaway Inc. Class B 5.99% 109,748 $55.2M Reduce -0.9%
CPRT Copart Inc. 4.74% 1,116,292 $43.7M Add +0.2%
ADBE Adobe Inc. 4.34% 114,324 $40.0M Add +6.3%
MA Mastercard Inc. Class A 3.91% 63,087 $36.0M Add +0.6%
LMT Lockheed Martin Corp. 3.38% 64,336 $31.1M Reduce -7.9%
OLED Universal Display Corp. 2.92% 230,181 $26.9M Add +6.5%
AMTM Amentum Holdings Inc. 2.68% 850,944 $24.7M Reduce -1.3%
WAY Waystar Holding Corp. 2.65% 746,467 $24.4M Add +3.5%
BOKF Bok Financial Corporation 1.61% 124,997 $14.8M Reduce -0.4%
V Visa Inc. Class A 1.58% 41,492 $14.6M Add +2.5%
ERII Energy Recovery Inc. 1.42% 969,580 $13.1M Reduce -5.5%
SBAC SBA Communications Corp. 1.32% 62,909 $12.2M Add +2.3%
MPLX MPLX LP 1.08% 186,892 $10.0M No change
ET Energy Transfer LP 0.81% 451,327 $7.4M Add +0.1%
BRK.A Berkshire Hathaway Inc. Class A 0.49% 6 $4.5M No change
EPD Enterprise Products Partners 0.44% 125,478 $4.0M No change
KMI Kinder Morgan Inc. 0.43% 145,185 $4.0M Reduce -0.4%
GOOG Alphabet Inc. Class C 0.37% 10,770 $3.4M No change
CTSO Cytosorbents Corp. 0.36% 5,230,099 $3.3M Add +2.9%
STWD Starwood Property Trust Inc. 0.27% 136,758 $2.5M Add +7.0%
EQIX Equinix Inc. 0.23% 2,741 $2.1M No change
PHYS Sprott Physical Gold Trust 0.22% 60,310 $2.0M No change
AX Axos Financial Inc. 0.19% 20,790 $1.8M No change
AIG American International Group 0.19% 20,180 $1.7M Reduce -4.5%
KMX Carmax Inc. 0.16% 37,701 $1.5M Reduce -82.8%
AES AES Corp. 0.15% 95,722 $1.4M Reduce -31.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.15% 24,690 $1.4M Add +1.0%
ATOM Atomera Inc. 0.15% 614,385 $1.4M Add +1.6%
BRSP Brightspire Capital Inc. 0.13% 221,900 $1.2M No change
ADPT Adaptive Biotechnologies 0.13% 76,365 $1.2M No change
VOO Vanguard S&P 500 ETF 0.13% 1,930 $1.2M No change
COHR Coherent Corp. 0.12% 6,110 $1.1M No change
DBRG Digitalbridge Group Inc. 0.12% 73,139 $1.1M No change
BN Brookfield Corp. 0.11% 22,500 $1.0M No change
XOM Exxon Mobil Corp. 0.11% 8,345 $1.0M No change
BSM Black Stone Minerals LP 0.11% 73,900 $982K No change
OPRX Optimizerx Corp. 0.10% 77,260 $947K No change
PRVA Privia Health Group Inc. 0.09% 36,745 $871K No change
LAMR Lamar Advertising Co. Class A 0.09% 6,780 $858K Add +16.3%
GLD SPDR Gold Shares 0.09% 2,114 $838K No change
BIP Brookfield Infrastructure Pa 0.09% 23,071 $801K No change
GOOD Gladstone Commercial Corp. 0.08% 66,988 $715K No change
CCC CCC Intelligent Solutions Ho 0.06% 65,772 $523K No change
NEWT Newtekone Inc. 0.05% 40,800 $463K No change
ENVX Enovix Corp. 0.05% 62,828 $459K No change
ANET Arista Networks Inc. 0.05% 3,370 $442K No change
COST Costco Wholesale Corp. 0.05% 500 $431K No change
VABK Virginia National Bankshares 0.05% 10,800 $430K No change
INTC Intel Corp. 0.05% 11,393 $420K No change
LHX L3HARRIS Technologies Inc. 0.04% 1,357 $398K No change
WMT Walmart Inc. 0.04% 3,501 $390K Reduce -2.4%
DLTR Dollar Tree Inc. 0.04% 2,860 $352K No change
LULU Lululemon Athletica Inc. 0.04% 1,637 $340K Reduce -10.9%
ABBV Abbvie Inc. 0.04% 1,462 $334K No change
BHRB Burke & Herbert Financial SE 0.03% 4,980 $310K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 2,646 $301K No change
RTX RTX Corp. 0.03% 1,634 $300K No change
TRGP Targa Resources Corp. 0.03% 1,602 $296K No change
CCI Crown Castle Inc. 0.03% 3,240 $288K No change
GE General Electric filed as GE AEROSPACE 0.03% 925 $285K No change
PNC PNC Financial Services Group 0.03% 1,266 $264K No change
ORCL Oracle Corp. 0.03% 1,350 $263K No change
PCAR Paccar Inc. 0.03% 2,250 $246K No change
QQQ Invesco QQQ Trust Series 1 0.02% 344 $211K No change
TPVG Triplepoint Venture Growth B 0.01% 11,000 $72K No change

Portfolio Sells Q3 2025 → Q4 2025
ORLY O'reilly Automotive Inc. Reduce -0.8% 7.50% −1.08
KMX Carmax Inc. Reduce -82.8% 0.16% −0.86
MSFT Microsoft Corp. Reduce -2.8% 12.88% −0.74
AMT American Tower Corp. Reduce -0.4% 7.96% −0.45
LMT Lockheed Martin Corp. Reduce -7.9% 3.38% −0.26
ERII Energy Recovery Inc. Reduce -5.5% 1.42% −0.23
AES AES Corp. Reduce -31.1% 0.15% −0.04
ABT Abbott Laboratories Sold out 0.00% −0.02
ENB Enbridge Inc. Sold out 0.00% −0.02
DENN Denny's Corp. Sold out 0.00% −0.02
LULU Lululemon Athletica Inc. Reduce -10.9% 0.04% +0.00
KMI Kinder Morgan Inc. Reduce -0.4% 0.43% +0.00
WMT Walmart Inc. Reduce -2.4% 0.04% +0.00
AIG American International Group Reduce -4.5% 0.19% +0.01
BOKF Bok Financial Corporation Reduce -0.4% 1.61% +0.15
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.9% 5.99% +0.19
AMTM Amentum Holdings Inc. Reduce -1.3% 2.68% +0.53
AAPL Apple Inc. Reduce -1.4% 6.80% +0.60
AMZN Amazon.com Inc. Reduce -1.4% 9.49% +0.70
MKL Markel Group Inc. Reduce -0.8% 10.82% +1.51

Portfolio Buys Q3 2025 → Q4 2025
ADBE Adobe Inc. Add +6.3% 4.34% +0.39
MA Mastercard Inc. Class A Add +0.6% 3.91% +0.19
V Visa Inc. Class A Add +2.5% 1.58% +0.14
SBAC SBA Communications Corp. Add +2.3% 1.32% +0.08
BHRB Burke & Herbert Financial SE New 0.03% +0.03
LAMR Lamar Advertising Co. Class A Add +16.3% 0.09% +0.02
BAC Bank of America Corp. Add +1.0% 0.15% +0.02
STWD Starwood Property Trust Inc. Add +7.0% 0.27% +0.01
ET Energy Transfer LP Add +0.1% 0.81% +0.00
ATOM Atomera Inc. Add +1.6% 0.15% −0.13
CTSO Cytosorbents Corp. Add +2.9% 0.36% −0.13
WAY Waystar Holding Corp. Add +3.5% 2.65% −0.20
OLED Universal Display Corp. Add +6.5% 2.92% −0.32
CPRT Copart Inc. Add +0.2% 4.74% −0.48

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