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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
+4.44%
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
$1.22B
AUM Growth
-$31.4M
Cap. Flow
-$56.7M
Cap. Flow %
-4.65%
Top 10 Hldgs %
76.92%
Holding
70
New
1
Increased
24
Reduced
16
Closed
7

Top Buys

Rank Stock Value
1
POST icon
Post Holdings
POST
+$9.42M
2
HEI.A icon
HEICO Corp Class A
HEI.A
+$9.15M
3
CEB
CEB Inc.
CEB
+$4.61M
4
GHM icon
Graham Corp
GHM
+$4.15M
5
MLAB icon
Mesa Laboratories
MLAB
+$3.43M

Top Sells

Rank Stock Value
1
WINA icon
Winmark
WINA
+$23.6M
2
TZOO icon
Travelzoo
TZOO
+$22.7M
3
SNEX icon
StoneX
SNEX
+$15.8M
4
VERU icon
Veru
VERU
+$9.97M
5
XPO icon
XPO
XPO
+$8.84M

Sector Composition

Rank Sector Weight
1 Industrials 46.32%
2 Healthcare 12.36%
3 Consumer Staples 10.36%
4 Real Estate 8.79%
5 Consumer Discretionary 8.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KMR
51
DELISTED
KINDER MORGAN MANAGEMENT LLC
KMR
$688K 0.06%
8,997
+1,816
+25% +$129K
NNN icon
52
NNN REIT
NNN
$9.29B
$521K 0.04%
14,000
– –
EMR icon
53
Emerson Electric
EMR
$81.6B
$512K 0.04%
7,711
– –
PFE icon
54
Pfizer
PFE
$143B
$492K 0.04%
17,474
– –
CHH icon
55
Choice Hotels
CHH
$5.26B
$471K 0.04%
10,000
– –
MSFT icon
56
Microsoft
MSFT
$2.9T
$436K 0.04%
10,449
– –
WOOF
57
DELISTED
VCA Inc.
WOOF
$355K 0.03%
10,122
-92
-0.9% -$2.99K
ASCMA
58
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$325K 0.03%
4,931
– –
UGI icon
59
UGI
UGI
$7.87B
$313K 0.03%
9,296
+240
+3% +$7.59K
VMBS icon
60
Vanguard Mortgage-Backed Securities ETF
VMBS
$15.4B
$301K 0.02%
5,716
-839
-13% -$43.8K
CAG icon
61
Conagra Brands
CAG
$7.42B
$297K 0.02%
12,850
– –
MRK icon
62
Merck
MRK
$322B
$219K 0.02%
3,976
– –
EXC icon
63
Exelon
EXC
$48.1B
$209K 0.02%
+8,045
New +$205K
PZA icon
64
Invesco National AMT-Free Municipal Bond ETF
PZA
$4.23B
– –
-8,668
Closed -$209K
SVC
65
Service Properties Trust
SVC
$1.05B
– –
-4,816
Closed -$687K
TZOO icon
66
Travelzoo
TZOO
$76.7M
– –
-990,969
Closed -$22.7M
VGK icon
67
Vanguard FTSE Europe ETF
VGK
$30.1B
– –
-12,981
Closed -$765K
HALL
68
DELISTED
Hallmark Financial Services, Inc.
HALL
– –
-7,584
Closed -$630K
WRI
69
DELISTED
Weingarten Realty Investors
WRI
– –
-7,900
Closed -$237K
PEI
70
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
– –
-677
Closed -$183K
1 2
3

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SFI
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Bares Capital Management's Q2 2014 Portfolio in Review

As of Q2 2014, Bares Capital Management held 70 positions worth $1.22B, down 2.5% from $1.25B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Bares Capital Management withdrew a net $56.7M in Q2 2014, closing 7 positions and reducing 16 holdings. Its most notable exit was Travelzoo, an estimated $22.7M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 46% of assets, up from 44% a quarter earlier, followed by Healthcare and Consumer Staples.

Against the trend, Bares Capital Management opened a new position in Exelon worth $209K.

  • Bares Capital Management's largest Q2 2014 buy was Exelon: 8,045 shares worth $209K.
  • Bares Capital Management added most to Post Holdings in Q2 2014, an estimated $9.42M increase.
  • Bares Capital Management's biggest Q2 2014 reduction was Winmark, cutting an estimated $23.6M.
  • Bares Capital Management fully exited Travelzoo in Q2 2014, selling an estimated $22.7M.
  • Bares Capital Management's ten largest holdings make up 77% of its $1.22B portfolio in Q2 2014.
  • Bares Capital Management opened 1 new position and closed 7 in Q2 2014.
  • Bares Capital Management's portfolio value fell 2.5% quarter-over-quarter to $1.22B.

Based on Bares Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.