9AT: AVENIR CORPORATION

AVENIR CORPORATION

other names

Revenue	{{ Info.Revenue \| formatUSD }}
Headquarters	{{ Info.Headquarters }}

Adviser Profile

As of Date	05/14/2025
Adviser Type - Large advisory firm
Number of Employees	6 -14.29%
of those in investment advisory functions	3 -25.00%
Registration	District of Columbia, Terminated, 04/10/2002
Other registrations (1)	SEC, Approved, 07/22/1988

AUM^*	1,003,294,487 -8.70%
of that, discretionary	1,003,294,487 -8.70%
Private Fund GAV^*	0
Avg Account Size	2,077,214 12.28%
% High Net Worth	59.51% 0.93%
SMA’s	Yes
Private Funds	0
Contact Info	(20 xxxxxxx
Websites

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

1B 1B 1B 825M 618M 412M 206M

2015 2016 2017 2018 2019 2020 2021 2022 2023

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker594918104	Stock NameMICROSOFT CORP	$ Position$101,486,620	% Position11.00%	$ Change-12.00%	# Change-1.00%
Stck Ticker570535104	Stock NameMARKEL GROUP INC	$ Position$92,807,147	% Position10.00%	$ Change-1.00%	# Change-9.00%
Stck Ticker03027X100	Stock NameAMERICAN TOWER CORP NEW	$ Position$94,752,208	% Position10.00%	$ Change18.00%	# Change-1.00%
Stck Ticker67103H107	Stock NameOREILLY AUTOMOTIVE INC	$ Position$84,364,278	% Position9.00%	$ Change17.00%	# Change-3.00%
Stck Ticker023135106	Stock NameAMAZON COM INC	$ Position$76,888,442	% Position8.00%	$ Change-14.00%	# Change-1.00%
Stck Ticker217204106	Stock NameCOPART INC	$ Position$63,823,504	% Position7.00%	$ Change-3.00%	# Change-1.00%
Stck Ticker084670702	Stock NameBERKSHIRE HATHAWAY INC DEL	$ Position$60,627,496	% Position6.00%	$ Change17.00%	# Change-1.00%
Stck Ticker037833100	Stock NameAPPLE INC	$ Position$55,398,959	% Position6.00%	$ Change-13.00%	# Change-2.00%
Stck Ticker550021109	Stock NameLULULEMON ATHLETICA INC	$ Position$34,547,827	% Position4.00%	$ Change-27.00%	# Change-1.00%
Stck Ticker57636Q104	Stock NameMASTERCARD INCORPORATED	$ Position$36,011,236	% Position4.00%	$ Change3.00%	# Change-1.00%

Brochure Summary

Overview

Avenir Corporation is an investment management firm registered with the Securities and Exchange Commission. The company was incorporated in July 1980, and functioned primarily as a family office prior to registering with the SEC on July 22, 1988, at which point the firm began accepting new accounts. Avenir is majority owned by its Chairman, Charles G. Mackall, Jr. (through the CGM 2006 Trust, as amended) and its active portfolio manager, James H. Rooney. Another shareholder identified in Schedule A of Part 1 ADV holds a controlling minority interest in the firm. Avenir provides investment management services on a discretionary basis. These services include the selection of securities for purchase or sale, placement of orders for securities transactions, and related services. Avenir’s services do not include processing claims relating to class action lawsuits or bankruptcies. Avenir provides advisory services for a diverse client base, ranging from taxable individual and family accounts, trusts and partnerships to non-taxable pension accounts and foundations. Avenir’s investment style is a highly disciplined core value strategy focused on capital preservation and real rates

of return, taking into consideration inflation and taxes. Avenir’s portfolios are relatively concentrated, reflecting Avenir’s belief that portfolios comprised of a limited number of superior investment opportunities combined with a high margin of safety can achieve better overall results than broadly diversified portfolios. Avenir understands that each client has special requirements and goals, and therefore clients may impose restrictions on investing in certain securities or types of securities. Avenir provides investment management services to certain clients who participate in wrap fee programs. Wrap fee programs are typically characterized by a bundled fee arrangement that covers both the investment manager’s services (i.e. those provided by Avenir) and any advisory fees paid to the wrap sponsor, as well as all brokerage commissions, custodial costs and related administrative costs. The total fees charged by these programs are set by the sponsoring broker, not by Avenir. From Avenir’s perspective, clients with wrap fee arrangements receive the same level of investment advisory services as non-wrap fee clients. Avenir managed approximately $1,267,094,000 of discretionary assets as of March 28, 2024.