Avenir 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ACORN ENERGY INC	COM	004848107	93	39,500	SH		SOLE	0	39,500	0	0
AES CORP	COM	00130H105	58,873	3,786,021	SH		SOLE	0	3,786,021	0	0
AES TR III	PFD CV 6.75%	00808N202	984	18,980	SH		SOLE	0	18,980	0	0
ALLSTATE CORP	COM	020002101	31,252	532,220	SH		SOLE	0	532,220	0	0
AMERICAN INTL GROUP INC	*W EXP 01/19/21	026874156	1,347	50,636	SH		SOLE	0	50,636	0	0
AMERICAN INTL GROUP INC	COM NEW	026874784	89,176	1,633,865	SH		SOLE	0	1,633,865	0	0
AMERICAN TOWER CORP	CL A	03027X100	100,007	1,111,436	SH		SOLE	0	1,111,436	0	0
ANTARES PHARMA INC	COM	036642106	911	341,035	SH		SOLE	0	341,035	0	0
AUTOZONE INC	COM	053332102	12,772	23,818	SH		SOLE	0	23,818	0	0
B O K FINL CORP	COM NEW	05561Q201	10,637	159,714	SH		SOLE	0	159,714	0	0
BANK OF AMERICA CORPORATION	*W EXP 01/16/19	060505146	322	46,960	SH		SOLE	0	46,960	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	3,608	19	SH		SOLE	0	19	0	0
BERKSHIRE HATHAWAY INC DEL	CL B	084670702	8,228	65,013	SH		SOLE	0	65,013	0	0
BROOKFIELD INFRAST PARTNERS	LP INT UNIT	G16252101	4,336	103,938	SH		SOLE	0	103,938	0	0
CAPITAL ONE FINL CORP	COM	14040H105	661	8,000	SH		SOLE	0	8,000	0	0
CARMAX INC	COM	143130102	70,119	1,348,185	SH		SOLE	0	1,348,185	0	0
CEDAR FAIR LP	DEPOSITRY UNIT	150185106	3,814	72,104	SH		SOLE	0	72,104	0	0
CINCINNATI BELL INC NEW	COM	171871106	31,357	7,978,941	SH		SOLE	0	7,978,941	0	0
CINCINNATI BELL INC NEW	PFD CV DEP1/20	171871403	516	10,691	SH		SOLE	0	10,691	0	0
CROWN HOLDINGS INC	COM	228368106	63,518	1,276,480	SH		SOLE	0	1,276,480	0	0
CYRUSONE INC	COM	23283R100	4,135	166,046	SH		SOLE	0	166,046	0	0
DENNYS CORP	COM	24869P104	61,803	9,478,955	SH		SOLE	0	9,478,955	0	0
DIRECTV	COM CL A	25490A309	1,253	14,745	SH		SOLE	0	14,745	0	0
DOLLAR TREE INC	COM	256746108	49,807	914,570	SH		SOLE	0	914,570	0	0
ENERGY RECOVERY INC	COM	29270J100	551	111,900	SH		SOLE	0	111,900	0	0
ENERGY TRANSFER EQUITY LP	COM UT LTD PTN	29273V100	5,556	94,260	SH		SOLE	0	94,260	0	0
ENTERPRISE PRODS PARTNERS LP	COM	293792107	5,995	76,569	SH		SOLE	0	76,569	0	0
EQUINIX	COM NEW	29444U502	2,799	13,322	SH		SOLE	0	13,322	0	0
EXXON MOBIL CORP	COM	30231G102	398	3,950	SH		SOLE	0	3,950	0	0
FAUQUIER BANKSHARES INC VA	COM	312059108	243	16,000	SH		SOLE	0	16,000	0	0
GENERAL ELECTRIC CO	COM	369604103	339	12,900	SH		SOLE	0	12,900	0	0
GENWORTH FINL INC	COM CL A	37247D106	8,655	497,432	SH		SOLE	0	497,432	0	0
GLADSTONE COML CORP	COM	376536108	2,392	133,858	SH		SOLE	0	133,858	0	0
HORSEHEAD HLDG CORP	COM	440694305	322	17,645	SH		SOLE	0	17,645	0	0
INTERNAP NETWORK SVCS CORP	COM PAR $.001	45885A300	58,745	8,332,620	SH		SOLE	0	8,332,620	0	0
IRIDIUM COMMUNICATIONS INC	COM	46269C102	21,364	2,525,299	SH		SOLE	0	2,525,299	0	0
KINDER MORGAN ENERGY PARTNERS	UT LTD PARTNER	494550106	658	8,000	SH		SOLE	0	8,000	0	0
KINDER MORGAN INC	COM	49456B101	40,563	1,118,678	SH		SOLE	0	1,118,678	0	0
KINDER MORGAN INC DEL	*W EXP 05/25/2017	49456B119	147	52,800	SH		SOLE	0	52,800	0	0
LEXINGTON REALTY TRUST	COM	529043101	1,105	100,386	SH		SOLE	0	100,386	0	0
MACQUARIE INFRASTR CO LLC	MEMBERSHIP INT	55608b105	1,941	31,123	SH		SOLE	0	31,123	0	0
MARKEL CORP	COM	570535104	91,125	138,986	SH		SOLE	0	138,986	0	0
MARKWEST ENERGY PARTNERS LP	UNIT LTD PARTN	570759100	16,975	237,149	SH		SOLE	0	237,149	0	0
MICROS SYS INC	COM	594901100	7,953	117,123	SH		SOLE	0	117,123	0	0
MICROSOFT CORP	COM	594918104	49,761	1,193,319	SH		SOLE	0	1,193,319	0	0
NII HLDGS INC	CL B NEW	62913F201	112	204,199	SH		SOLE	0	204,199	0	0
NOVAVAX INC	COM	670002104	74	16,000	SH		SOLE	0	16,000	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	5,483	140,185	SH		SOLE	0	140,185	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	1,026	10,000	SH		SOLE	0	10,000	0	0
PIONEER NAT RES CO	COM	723787107	96,477	419,814	SH		SOLE	0	419,814	0	0
POPEYES LA KITCHEN INC	COM	732872106	35,285	807,250	SH		SOLE	0	807,250	0	0
REGENCY ENERGY PARTNERS LP	COM UNITS LP	75885Y107	9,165	284,535	SH		SOLE	0	284,535	0	0
ROSS STORES INC	COM	778296103	26,034	393,678	SH		SOLE	0	393,678	0	0
SBA COMMUNICATIONS CORP	COM	78388J106	1,782	17,418	SH		SOLE	0	17,418	0	0
SEADRILL LIMITED	SHS	G7945E105	686	17,160	SH		SOLE	0	17,160	0	0
SIRIUS XM RADIO INC	COM	82968B103	496	143,440	SH		SOLE	0	143,440	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	3,056	71,813	SH		SOLE	0	71,813	0	0
TEEKAY CORPORATION	COM	Y8564W103	23,440	376,551	SH		SOLE	0	376,551	0	0
TEEKAY OFFSHORE PARTNERS LP	PARTNERSHIP UN	Y8565J101	3,309	91,675	SH		SOLE	0	91,675	0	0
TIGERLOGIC CORPORATION	COM	8867EQ101	384	286,859	SH		SOLE	0	286,859	0	0
TIME WARNER CABLE INC	COM	88732J207	36,806	249,873	SH		SOLE	0	249,873	0	0
TWENTY FIRST CENTY FOX INC	CL A	90130A101	441	12,556	SH		SOLE	0	12,556	0	0
PROSHARES TR	PSHS ULSHT SP500	74347b300	755	29,670	SH		SOLE	0	29,670	0	0
UNIVERSAL DISPLAY CORP	COM	91347P105	18,606	579,618	SH		SOLE	0	579,618	0	0
VANGUARD NATURAL RESOURCES L	COM UNIT	92205F106	913	28,340	SH		SOLE	0	28,340	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	670	13,700	SH		SOLE	0	13,700	0	0
WALKER & DUNLOP INC	COM	93148P102	144	10,200	SH		SOLE	0	10,200	0	0
WASHINGTON PRIME GROUP INC	COM	939647103	676	36,050	SH		SOLE	0	36,050	0	0
WELLS FARGO & CO NEW	COM	949746101	12,969	246,744	SH		SOLE	0	246,744	0	0