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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
+2.37%
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
$3.65B
AUM Growth
+$91.8M
Cap. Flow
+$47.9M
Cap. Flow %
1.31%
Top 10 Hldgs %
77.49%
Holding
24
New
1
Increased
6
Reduced
11
Closed
–

Top Buys

Rank Stock Value
1
XYZ
Block Inc
XYZ
+$213M
2
ZUO
Zuora, Inc.
ZUO
+$45.9M
3
DESP
Despegar.com
DESP
+$29.9M
4
W icon
Wayfair
W
+$10.5M
5
CMPR icon
Cimpress
CMPR
+$4.48M

Top Sells

Rank Stock Value
1
MIDD icon
Middleby
MIDD
+$222M
2
CSGP icon
CoStar Group
CSGP
+$8.35M
3
FAST icon
Fastenal
FAST
+$8.15M
4
TRIP icon
TripAdvisor
TRIP
+$7.3M
5
NATI
National Instruments Corp
NATI
+$4.1M

Sector Composition

Rank Sector Weight
1 Technology 42.77%
2 Consumer Discretionary 21.71%
3 Financials 10.76%
4 Industrials 10.38%
5 Real Estate 8.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IBKR icon
1
Interactive Brokers
IBKR
$38.4B
$393M 10.76%
28,975,696
+237,420
+0.8% +$3.22M
IT icon
2
Gartner
IT
$11.1B
$380M 10.4%
2,359,185
-4,835
-0.2% -$756K
WDAY icon
3
Workday
WDAY
$41.5B
$377M 10.33%
1,833,652
+2,003
+0.1% +$404K
CSGP icon
4
CoStar Group
CSGP
$12.2B
$296M 8.12%
5,347,500
-163,470
-3% -$8.35M
FAST icon
5
Fastenal
FAST
$54.8B
$283M 7.75%
17,354,196
-494,260
-3% -$8.15M
XYZ
6
Block Inc
XYZ
$48.9B
$262M 7.19%
3,616,765
+3,053,548
+542% +$213M
W icon
7
Wayfair
W
$11.8B
$243M 6.65%
1,663,326
+70,137
+4% +$10.5M
UA icon
8
Under Armour Class C
UA
$2.95B
$223M 6.11%
10,043,880
-114,483
-1% -$2.38M
TRIP icon
9
TripAdvisor
TRIP
$1.7B
$201M 5.5%
4,337,698
-149,723
-3% -$7.3M
NATI
10
DELISTED
National Instruments Corp
NATI
$171M 4.69%
4,080,541
-96,070
-2% -$4.1M
ESI icon
11
Element Solutions
ESI
$8.48B
$169M 4.64%
16,371,447
– –
BOX icon
12
Box
BOX
$4.49B
$150M 4.1%
8,501,522
– –
PZZA icon
13
Papa John's
PZZA
$1.01B
$83.8M 2.29%
1,872,812
– –
ALRM icon
14
Alarm.com
ALRM
$2.75B
$78.1M 2.14%
1,460,378
– –
MIDD icon
15
Middleby
MIDD
$6.01B
$56.9M 1.56%
419,651
-1,648,270
-80% -$222M
DESP
16
DELISTED
Despegar.com
DESP
$42.2M 1.16%
3,041,218
+2,184,768
+255% +$29.9M
CMPR icon
17
Cimpress
CMPR
$2.37B
$39.2M 1.07%
430,811
+49,825
+13% +$4.48M
ZUO
18
DELISTED
Zuora, Inc.
ZUO
$37.1M 1.02%
+2,420,736
New +$45.9M
GWRE icon
19
Guidewire Software
GWRE
$13.9B
$31.7M 0.87%
312,601
-25,632
-8% -$2.61M
ELF icon
20
e.l.f. Beauty
ELF
$4.77B
$30.8M 0.84%
2,183,273
– –
ANSS
21
DELISTED
Ansys
ANSS
$29M 0.79%
141,554
-15,900
-10% -$3.03M
TYL icon
22
Tyler Technologies
TYL
$13.7B
$28.8M 0.79%
133,405
-6,235
-4% -$1.35M
ALGN icon
23
Align Technology
ALGN
$12.9B
$28.8M 0.79%
105,273
-377
-0.4% -$114K
SCOR icon
24
Comscore
SCOR
$113M
$16.5M 0.45%
159,542
– –

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BFS
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SFI
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Bares Capital Management's Q2 2019 Portfolio in Review

As of Q2 2019, Bares Capital Management held 24 positions worth $3.65B, up 2.6% from $3.56B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Trading was light in Q2 2019: portfolio turnover was 4.2%. Bares Capital Management opened 1 new position and made no exits, leaving the 24-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 43% of assets, up from 38% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Bares Capital Management's largest Q2 2019 buy was Zuora, Inc.: 2,420,736 shares worth $37.1M.
  • Bares Capital Management added most to Block Inc in Q2 2019, an estimated $213M increase.
  • Bares Capital Management's biggest Q2 2019 reduction was Middleby, cutting an estimated $222M.
  • Bares Capital Management's ten largest holdings make up 77% of its $3.65B portfolio in Q2 2019.
  • Bares Capital Management opened 1 new position and closed 0 in Q2 2019.
  • Bares Capital Management's portfolio value rose 2.6% quarter-over-quarter to $3.65B.

Based on Bares Capital Management's 13F filing for Q2 2019, filed 14 Aug 2019.