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BCM
Bares Capital Management Portfolio holdings
AUM
$1.08B
Turnover
8.33%
1-Year Est. Return
38.13%
This Fund
S&P 500
This Quarter Est. Return
+13.78%
1 Year Est. Return
+38.13%
3 Year Est. Return
+137.82%
5 Year Est. Return
+31.6%
10 Year Est. Return
+374.72%
AUM
$1.08B
AUM Growth
+$53.8M
(+5.2%)
Cap. Flow
-$52.2M
Cap. Flow % of AUM
Cap. Flow %
-4.82%
Top 10 Holdings %
Top 10 Hldgs %
96.39%
Holding
24
New
2
Increased
3
Reduced
9
Closed
–
Avg Time Held
2.7
years
Top 10 Avg Time Held
4.9
years
Top 20 Avg Time Held
3.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Globus Medical
GMED
|
+$30M |
| 2 |
Align Technology
ALGN
|
+$15.3M |
| 3 |
Workday
WDAY
|
+$14.1M |
| 4 |
Onto Innovation
ONTO
|
+$8.08M |
| 5 |
CoStar Group
CSGP
|
+$1.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Interactive Brokers
IBKR
|
+$59.8M |
| 2 |
Medpace
MEDP
|
+$19.9M |
| 3 |
Block Inc
XYZ
|
+$11.8M |
| 4 |
StoneX
SNEX
|
+$9.5M |
| 5 |
Pegasystems
PEGA
|
+$8.95M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 45.3% |
| 2 | Healthcare | 17.1% |
| 3 | Consumer Discretionary | 14.28% |
| 4 | Financials | 13.09% |
| 5 | Real Estate | 9.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Pegasystems
PEGA
$5.52B
| $194M | 17.93% |
3,380,345
-162,371
| -5% | -$8.95M |
2019 Q3
24 quarters
|
|
|
2
Block Inc
XYZ
$46.3B
| $144M | 13.28% |
1,991,847
-157,116
| -7% | -$11.8M |
2018 Q2
29 quarters
|
|
|
3
Workday
WDAY
$46.9B
| $143M | 13.19% |
593,755
+60,920
| +11% | +$14.1M |
2018 Q2
29 quarters
|
|
|
4
Interactive Brokers
IBKR
$36.9B
| $142M | 13.08% |
2,060,589
-950,511
| -32% | -$59.8M |
2015 Q3
40 quarters
|
|
|
5
CoStar Group
CSGP
$11.4B
| $103M | 9.54% |
1,226,251
+11,599
| +1% | +$1.03M |
2016 Q2
37 quarters
|
|
6
Etsy
ETSY
$7.92B
| $94.7M | 8.73% |
1,425,825
-7,646
| -0.5% | -$457K |
2021 Q2
17 quarters
|
|
|
7
Align Technology
ALGN
$10.9B
| $76.3M | 7.04% |
609,722
+97,378
| +19% | +$15.3M |
2018 Q4
27 quarters
|
|
8
Wayfair
W
$16.5B
| $60.1M | 5.54% |
672,486
-63,526
| -9% | -$4.65M |
2019 Q1
26 quarters
|
|
|
9
Medpace
MEDP
$19B
| $57.3M | 5.29% |
111,507
-45,577
| -29% | -$19.9M |
2025 Q1
2 quarters
|
|
|
10
Globus Medical
GMED
$11.2B
| $29.8M | 2.75% |
+521,129
| New | +$30M |
2025 Q3
0 quarters
|
|
11
Veeva Systems
VEEV
$50.4B
| $21.9M | 2.02% |
73,360
-20,001
| -21% | -$5.63M |
2024 Q1
6 quarters
|
|
|
12
Onto Innovation
ONTO
$10.9B
| $9.7M | 0.9% |
+75,450
| New | +$8.08M |
2025 Q3
0 quarters
|
|
13
Middleby
MIDD
$5.3B
| $7.26M | 0.67% |
54,625
| – | – |
2025 Q2
1 quarter
|
|
14
Amphenol
APH
$203B
| $43.7K | ﹤0.01% |
706
| – | – |
2025 Q1
2 quarters
|
|
|
15
StoneX
SNEX
$6.57B
| $40.6K | ﹤0.01% |
905
-223,875
| -100% | -$9.5M |
2025 Q1
2 quarters
|
|
16
HEICO Corp Class A
HEI.A
$34B
| $31K | ﹤0.01% |
122
| – | – |
2025 Q1
2 quarters
|
|
17
APi Group
APG
$19.3B
| $30.1K | ﹤0.01% |
877
-1
| -0.1% | -$35 |
2025 Q2
1 quarter
|
|
18
Ametek
AME
$57.6B
| $28.6K | ﹤0.01% |
152
| – | – |
2025 Q1
2 quarters
|
|
19
Brown & Brown
BRO
$22.6B
| $24.3K | ﹤0.01% |
259
| – | – |
2025 Q1
2 quarters
|
|
20
Ferguson
FERG
$46.3B
| $23.1K | ﹤0.01% |
103
| – | – |
2025 Q2
1 quarter
|
|
21
Watsco Inc
WSO
$12.5B
| $18.2K | ﹤0.01% |
45
| – | – |
2025 Q1
2 quarters
|
|
22
Moody's
MCO
$84B
| $16.2K | ﹤0.01% |
34
| – | – |
2025 Q1
2 quarters
|
|
23
Tyler Technologies
TYL
$15.3B
| $14.6K | ﹤0.01% |
28
| – | – |
2025 Q1
2 quarters
|
|
24
Verisk Analytics
VRSK
$24.7B
| $14.6K | ﹤0.01% |
58
| – | – |
2025 Q1
2 quarters
|
|
Similar funds
BFS
Bares Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Bares Capital Management held 24 positions worth $1.08B, up 5.2% from $1.03B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Bares Capital Management withdrew a net $52.2M in Q3 2025, reducing 9 holdings. Its largest reduction was Interactive Brokers, cutting an estimated $59.8M.
By sector, the portfolio is most concentrated in Technology at 45% of assets, up from 45% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Bares Capital Management opened a new position in Globus Medical worth $29.8M.
- Bares Capital Management's largest Q3 2025 buy was Globus Medical: 521,129 shares worth $29.8M.
- Bares Capital Management added most to Align Technology in Q3 2025, an estimated $15.3M increase.
- Bares Capital Management's biggest Q3 2025 reduction was Interactive Brokers, cutting an estimated $59.8M.
- Bares Capital Management's ten largest holdings make up 96% of its $1.08B portfolio in Q3 2025.
- Bares Capital Management opened 2 new positions and closed 0 in Q3 2025.
- Bares Capital Management's portfolio value rose 5.2% quarter-over-quarter to $1.08B.
Based on Bares Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.