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	4	39,500	SH		SOLE	0	39,500	0	0
AES CORP	COM	00130H105	42,380	4,328,908	SH		SOLE	0	4,328,908	0	0
AES TR III	PFD CV 6.75%	00808N202	942	18,980	SH		SOLE	0	18,980	0	0
ALLSTATE CORP	COM	020002101	1,397	23,995	SH		SOLE	0	23,995	0	0
AMERICAN INTL GROUP INC	*W EXP 01/19/21	026874156	786	34,615	SH		SOLE	0	34,615	0	0
AMERICAN INTL GROUP INC	COM NEW	026874784	83,310	1,466,205	SH		SOLE	0	1,466,205	0	0
AMERICAN TOWER CORP	CL A	03027X100	93,786	1,065,992	SH		SOLE	0	1,065,992	0	0
ANTARES PHARMA INC	COM	036642106	547	321,535	SH		SOLE	0	321,535	0	0
AUTOZONE INC	COM	053332102	22,750	31,430	SH		SOLE	0	31,430	0	0
B O K FINL CORP	COM NEW	05561Q201	10,018	154,810	SH		SOLE	0	154,810	0	0
BANK AMER CORP	COM	60505104	29,229	1,876,060	SH		SOLE	0	1,876,060	0	0
BANK AMER CORP	*W EXP 01/16/19	060505146	812	141,675	SH		SOLE	0	141,675	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	3,514	18	SH		SOLE	0	18	0	0
BERKSHIRE HATHAWAY INC DEL	CL B	084670702	8,163	62,603	SH		SOLE	0	62,603	0	0
BROOKFIELD INFRAST PARTNERS	LP INT UNIT	G16252101	3,738	101,658	SH		SOLE	0	101,658	0	0
CARMAX INC	COM	143130102	73,399	1,237,333	SH		SOLE	0	1,237,333	0	0
CEDAR FAIR LP	DEPOSITRY UNIT	150185106	4,242	80,635	SH		SOLE	0	80,635	0	0
CINCINNATI BELL INC NEW	COM	171871106	27,481	8,808,058	SH		SOLE	0	8,808,058	0	0
CINCINNATI BELL INC NEW	PFD CV DEP1/20	171871403	631	13,160	SH		SOLE	0	13,160	0	0
CROWN HOLDINGS INC	COM	228368106	55,237	1,207,359	SH		SOLE	0	1,207,359	0	0
DENNYS CORP	COM	24869P104	99,925	9,059,355	SH		SOLE	0	9,059,355	0	0
DOLLAR TREE INC	COM	256746108	59,122	886,923	SH		SOLE	0	886,923	0	0
ENERGY RECOVERY INC	COM	29270J100	548	256,000	SH		SOLE	0	256,000	0	0
ENERGY TRANSFER EQUITY LP	COM UT LTD PTN	29273V100	3,836	184,322	SH		SOLE	0	184,322	0	0
ENERGY TRANSFER PRTNRS LP	UNIT LTD PARTN	29273R109	4,220	102,747	SH		SOLE	0	102,747	0	0
ENTERPRISE PRODS PARTNERS LP	COM	293792107	3,939	158,208	SH		SOLE	0	158,208	0	0
EQUINIX	COM NEW	29444U502	40,517	148,196	SH		SOLE	0	148,196	0	0
EXXON MOBIL CORP	COM	30231G102	204	2,748	SH		SOLE	0	2,748	0	0
FAUQUIER BANKSHARES INC VA	COM	312059108	224	16,000	SH		SOLE	0	16,000	0	0
GENERAL ELECTRIC CO	COM	369604103	290	11,500	SH		SOLE	0	11,500	0	0
GENWORTH FINL INC	COM CL A	37247D106	85	18,410	SH		SOLE	0	18,410	0	0
GLADSTONE COML CORP	COM	376536108	1,628	115,361	SH		SOLE	0	115,361	0	0
HORSEHEAD HLDG CORP	COM	440694305	84	27,685	SH		SOLE	0	27,685	0	0
INTERNAP NETWORK SVCS CORP	COM PAR $.001	45885A300	43,528	7,100,897	SH		SOLE	0	7,100,897	0	0
KINDER MORGAN INC	COM	49456B101	32,132	1,160,842	SH		SOLE	0	1,160,842	0	0
KINDER MORGAN INC DEL	*W EXP 05/25/2017	49456B119	569	618,970	SH		SOLE	0	618,970	0	0
MACQUARIE INFRASTR CO LLC	MEMBERSHIP INT	55608b105	3,571	47,830	SH		SOLE	0	47,830	0	0
MARKEL CORP	COM	570535104	102,419	127,726	SH		SOLE	0	127,726	0	0
MARKWEST ENERGY PARTNERS LP	UNIT LTD PARTN	570759100	9,935	231,539	SH		SOLE	0	231,539	0	0
MASTERCARD INC	CL A	57636Q104	4,177	46,350	SH		SOLE	0	46,350	0	0
MICROSOFT CORP	COM	594918104	55,010	1,242,882	SH		SOLE	0	1,242,882	0	0
NOVAVAX INC	COM	670002104	127	18,000	SH		SOLE	0	18,000	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	3,585	134,135	SH		SOLE	0	134,135	0	0
PIONEER NAT RES CO	COM	723787107	49,982	410,900	SH		SOLE	0	410,900	0	0
POPEYES LA KITCHEN INC	COM	732872106	55,139	978,342	SH		SOLE	0	978,342	0	0
REAL IND INC	COM	75601W104	487	55,252	SH		SOLE	0	55,252	0	0
ROSS STORES INC	COM	778296103	25,512	526,356	SH		SOLE	0	526,356	0	0
SBA COMMUNICATIONS CORP	COM	78388J106	1,821	17,383	SH		SOLE	0	17,383	0	0
SIRIUS XM RADIO INC	COM	82968B103	63	16,940	SH		SOLE	0	16,940	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	261	5,695	SH		SOLE	0	5,695	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	589	5,510	SH		SOLE	0	5,510	0	0
TEEKAY CORPORATION	COM	Y8564W103	23,404	789,595	SH		SOLE	0	789,595	0	0
TEEKAY OFFSHORE PARTNERS LP	PARTNERSHIP UN	Y8565J101	12,915	897,464	SH		SOLE	0	897,464	0	0
TIGERLOGIC CORPORATION	COM	8867EQ101	33	169,735	SH		SOLE	0	169,735	0	0
TWENTY FIRST CENTY FOX INC	CL A	90130A101	339	12,556	SH		SOLE	0	12,556	0	0
UNIVERSAL DISPLAY CORP	COM	91347P105	18,126	534,682	SH		SOLE	0	534,682	0	0
VANGUARD NATURAL RESOURCES L	COM UNIT	92205F106	404	53,200	SH		SOLE	0	53,200	0	0
VISA INC	COM CL A	92826C839	4,210	60,439	SH		SOLE	0	60,439	0	0
WALKER & DUNLOP INC	COM	93148P102	266	10,200	SH		SOLE	0	10,200	0	0
WELLS FARGO & CO NEW	COM	949746101	11,560	225,129	SH		SOLE	0	225,129	0	0
WP GLIMCHER INC	COM	92939N102	601	51,580	SH		SOLE	0	51,580	0	0
ZAYO GROUP HLDGS INC	COM	98919V105	64,315	2,536,078	SH		SOLE	0	2,536,078	0	0