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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
+8.09%
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
$2.87B
AUM Growth
+$256M
Cap. Flow
+$99.4M
Cap. Flow %
3.47%
Top 10 Hldgs %
75.08%
Holding
24
New
7
Increased
11
Reduced
4
Closed
2

Top Buys

Rank Stock Value
1
MIDD icon
Middleby
MIDD
+$177M
2
PZZA icon
Papa John's
PZZA
+$77.7M
3
SCOR icon
Comscore
SCOR
+$14.9M
4
IBKR icon
Interactive Brokers
IBKR
+$13.9M
5
FAST icon
Fastenal
FAST
+$8.35M

Top Sells

Rank Stock Value
1
FDS icon
Factset
FDS
+$152M
2
TWLO icon
Twilio
TWLO
+$73.8M
3
ENOV icon
Enovis
ENOV
+$1.68M
4
BOX icon
Box
BOX
+$1.45M
5
ALRM icon
Alarm.com
ALRM
+$591K

Sector Composition

Rank Sector Weight
1 Technology 33.07%
2 Consumer Discretionary 17.26%
3 Industrials 12.25%
4 Financials 11.33%
5 Real Estate 9.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IBKR icon
1
Interactive Brokers
IBKR
$38.4B
$325M 11.33%
20,176,548
+768,480
+4% +$13.9M
CSGP icon
2
CoStar Group
CSGP
$12.2B
$259M 9.03%
6,277,800
+52,230
+0.8% +$2.01M
TRIP icon
3
TripAdvisor
TRIP
$1.7B
$245M 8.54%
4,394,668
+154,366
+4% +$7.38M
IT icon
4
Gartner
IT
$11.1B
$217M 7.57%
1,634,024
+46,453
+3% +$5.95M
ESI icon
5
Element Solutions
ESI
$8.48B
$208M 7.27%
17,962,209
+64,556
+0.4% +$704K
FAST icon
6
Fastenal
FAST
$54.8B
$188M 6.55%
15,608,792
+645,220
+4% +$8.35M
ANSS
7
DELISTED
Ansys
ANSS
$187M 6.53%
1,075,286
+4,752
+0.4% +$791K
BOX icon
8
Box
BOX
$4.49B
$180M 6.29%
7,214,196
-58,553
-0.8% -$1.45M
UA icon
9
Under Armour Class C
UA
$2.95B
$180M 6.28%
8,535,681
+245,365
+3% +$4.36M
MIDD icon
10
Middleby
MIDD
$6.01B
$163M 5.69%
+1,561,494
New +$177M
NATI
11
DELISTED
National Instruments Corp
NATI
$156M 5.44%
3,716,187
+173,141
+5% +$7.68M
WAT icon
12
Waters Corp
WAT
$37.3B
$151M 5.28%
781,463
+34,203
+5% +$6.74M
ALRM icon
13
Alarm.com
ALRM
$2.75B
$137M 4.79%
3,402,644
-14,247
-0.4% -$591K
ENOV icon
14
Enovis
ENOV
$1.74B
$96.3M 3.36%
1,826,175
-31,094
-2% -$1.68M
PZZA icon
15
Papa John's
PZZA
$1.01B
$70.2M 2.45%
+1,384,929
New +$77.7M
SCOR icon
16
Comscore
SCOR
$113M
$68.6M 2.39%
157,330
+31,716
+25% +$14.9M
ELF icon
17
e.l.f. Beauty
ELF
$4.77B
$33.1M 1.15%
2,168,757
-15,615
-0.7% -$296K
WDAY icon
18
Workday
WDAY
$41.5B
$392K 0.01%
+3,234
New +$414K
GWRE icon
19
Guidewire Software
GWRE
$13.9B
$363K 0.01%
+4,089
New +$362K
XYZ
20
Block Inc
XYZ
$48.9B
$359K 0.01%
+5,824
New +$320K
TYL icon
21
Tyler Technologies
TYL
$13.7B
$352K 0.01%
+1,587
New +$357K
ATHN
22
DELISTED
Athenahealth, Inc.
ATHN
$296K 0.01%
+1,858
New +$276K
FDS icon
23
Factset
FDS
$10B
– –
-761,077
Closed -$152M
TWLO icon
24
Twilio
TWLO
$28.6B
– –
-1,932,511
Closed -$73.8M

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Bares Capital Management's Q2 2018 Portfolio in Review

As of Q2 2018, Bares Capital Management held 24 positions worth $2.87B, up 9.8% from $2.61B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Bares Capital Management deployed $99.4M of net new capital in Q2 2018, opening 7 new positions and adding to 11 existing holdings. Its largest new stake was Middleby: 1,561,494 shares worth $163M.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 36% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Enovis, an estimated $1.68M trimmed.

  • Bares Capital Management's largest Q2 2018 buy was Middleby: 1,561,494 shares worth $163M.
  • Bares Capital Management added most to Comscore in Q2 2018, an estimated $14.9M increase.
  • Bares Capital Management's biggest Q2 2018 reduction was Enovis, cutting an estimated $1.68M.
  • Bares Capital Management fully exited Factset in Q2 2018, selling an estimated $152M.
  • Bares Capital Management's ten largest holdings make up 75% of its $2.87B portfolio in Q2 2018.
  • Bares Capital Management opened 7 new positions and closed 2 in Q2 2018.
  • Bares Capital Management's portfolio value rose 9.8% quarter-over-quarter to $2.87B.

Based on Bares Capital Management's 13F filing for Q2 2018, filed 13 Aug 2018.