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BCM

Bares Capital Management Portfolio holdings

AUM $1.08B
1-Year Est. Return 38.13%
This Fund
S&P 500
This Quarter Est. Return
-11.79%
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
$2.34B
AUM Growth
-$550M
Cap. Flow
-$158M
Cap. Flow %
-6.76%
Top 10 Hldgs %
82.17%
Holding
38
New
–
Increased
10
Reduced
21
Closed
1

Top Buys

Rank Stock Value
1
ETSY icon
Etsy
ETSY
+$117M
2
TFIN icon
Triumph Financial Inc
TFIN
+$10M
3
AYX
Alteryx Inc
AYX
+$7.51M
4
PD icon
PagerDuty
PD
+$5.46M
5
WOW
WideOpenWest
WOW
+$2.86M

Top Sells

Rank Stock Value
1
PLNT icon
Planet Fitness
PLNT
+$135M
2
WDAY icon
Workday
WDAY
+$109M
3
ALGN icon
Align Technology
ALGN
+$30.3M
4
RDFN
Redfin
RDFN
+$7.87M
5
PZZA icon
Papa John's
PZZA
+$3.86M

Sector Composition

Rank Sector Weight
1 Technology 45.04%
2 Consumer Discretionary 20.53%
3 Real Estate 11.78%
4 Financials 10.79%
5 Healthcare 7.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVTC icon
26
Evertec
EVTC
$1.85B
$12.6M 0.54%
340,000
– –
IRMD icon
27
iRadimed
IRMD
$1.17B
$12.3M 0.53%
277,000
– –
TDUP icon
28
ThredUp
TDUP
$401M
$12M 0.51%
3,000,000
– –
SSTI icon
29
SoundThinking
SSTI
$101M
$11.9M 0.51%
667,508
+74,521
+13% +$1.58M
ATRO icon
30
Astronics
ATRO
$3.75B
$11.5M 0.49%
866,542
-10,200
-1% -$153K
OLO
31
DELISTED
Olo Inc
OLO
$10M 0.43%
1,654,863
-518,436
-24% -$3.39M
MODN
32
DELISTED
MODEL N, INC.
MODN
$8.42M 0.36%
345,000
– –
FTCH
33
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$8.29M 0.35%
3,965,887
-5,000
-0.1% -$20.4K
HCAT icon
34
Health Catalyst
HCAT
$171M
$7.08M 0.3%
700,000
-80,000
-10% -$955K
ZUO
35
DELISTED
Zuora, Inc.
ZUO
$6.59M 0.28%
800,000
-100,000
-11% -$986K
PZZA icon
36
Papa John's
PZZA
$811M
$4.5M 0.19%
66,000
-50,000
-43% -$3.86M
INMD icon
37
InMode
INMD
$869M
$3.96M 0.17%
130,000
– –
PLNT icon
38
Planet Fitness
PLNT
$4.05B
– –
-1,998,888
Closed -$135M
1
2

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Bares Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, Bares Capital Management held 38 positions worth $2.34B, down 19% from $2.89B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Bares Capital Management withdrew a net $158M in Q3 2023, closing 1 position and reducing 21 holdings. Its most notable exit was Planet Fitness, an estimated $135M position sold in full.

By sector, the portfolio is most concentrated in Technology at 45% of assets, down from 46% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Bares Capital Management added an estimated $117M to Etsy.

  • Bares Capital Management added most to Etsy in Q3 2023, an estimated $117M increase.
  • Bares Capital Management's biggest Q3 2023 reduction was Workday, cutting an estimated $109M.
  • Bares Capital Management fully exited Planet Fitness in Q3 2023, selling an estimated $135M.
  • Bares Capital Management's ten largest holdings make up 82% of its $2.34B portfolio in Q3 2023.
  • Bares Capital Management opened 0 new positions and closed 1 in Q3 2023.
  • Bares Capital Management's portfolio value fell 19% quarter-over-quarter to $2.34B.

Based on Bares Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.