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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
+5.37%
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
$3.57B
AUM Growth
+$234M
Cap. Flow
+$152M
Cap. Flow %
4.27%
Top 10 Hldgs %
84.43%
Holding
24
New
–
Increased
12
Reduced
11
Closed
1

Top Buys

Rank Stock Value
1
PEGA icon
Pegasystems
PEGA
+$236M
2
W icon
Wayfair
W
+$188M
3
WDAY icon
Workday
WDAY
+$68M
4
ALGN icon
Align Technology
ALGN
+$35.1M
5
XYZ
Block Inc
XYZ
+$20.5M

Top Sells

Rank Stock Value
1
FAST icon
Fastenal
FAST
+$214M
2
TRIP icon
TripAdvisor
TRIP
+$127M
3
NATI
National Instruments Corp
NATI
+$32.5M
4
PZZA icon
Papa John's
PZZA
+$16.1M
5
ESI icon
Element Solutions
ESI
+$15.6M

Sector Composition

Rank Sector Weight
1 Technology 47.85%
2 Consumer Discretionary 20.22%
3 Financials 9.77%
4 Healthcare 9.32%
5 Real Estate 6.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WDAY icon
1
Workday
WDAY
$41.5B
$404M 11.34%
2,457,908
+409,763
+20% +$68M
W icon
2
Wayfair
W
$11.8B
$399M 11.18%
4,413,102
+2,011,660
+84% +$188M
IT icon
3
Gartner
IT
$11.1B
$370M 10.39%
2,403,892
-22,690
-0.9% -$3.46M
IBKR icon
4
Interactive Brokers
IBKR
$38.4B
$348M 9.77%
29,894,460
+141,604
+0.5% +$1.66M
ALGN icon
5
Align Technology
ALGN
$12.9B
$332M 9.32%
1,190,404
+140,891
+13% +$35.1M
XYZ
6
Block Inc
XYZ
$48.9B
$324M 9.1%
5,185,949
+321,411
+7% +$20.5M
PEGA icon
7
Pegasystems
PEGA
$5.09B
$285M 7.99%
7,152,726
+6,230,000
+675% +$236M
CSGP icon
8
CoStar Group
CSGP
$12.2B
$220M 6.16%
3,674,110
+42,570
+1% +$2.49M
UA icon
9
Under Armour Class C
UA
$2.95B
$198M 5.55%
10,318,273
-15,026
-0.1% -$264K
ESI icon
10
Element Solutions
ESI
$8.48B
$130M 3.63%
11,088,703
-1,415,548
-11% -$15.6M
BOX icon
11
Box
BOX
$4.49B
$99.7M 2.8%
5,942,871
-514,671
-8% -$8.63M
PZZA icon
12
Papa John's
PZZA
$1.01B
$74.2M 2.08%
1,174,963
-272,440
-19% -$16.1M
ALRM icon
13
Alarm.com
ALRM
$2.75B
$65.5M 1.84%
1,524,386
+321,796
+27% +$14.5M
ZUO
14
DELISTED
Zuora, Inc.
ZUO
$43.3M 1.21%
3,018,897
+300,150
+11% +$4.4M
TYL icon
15
Tyler Technologies
TYL
$13.7B
$38.9M 1.09%
129,657
+1,452
+1% +$404K
CMPR icon
16
Cimpress
CMPR
$2.37B
$38.7M 1.09%
307,601
-26,054
-8% -$3.39M
GWRE icon
17
Guidewire Software
GWRE
$13.9B
$37.4M 1.05%
340,444
+34,843
+11% +$3.9M
MIDD icon
18
Middleby
MIDD
$6.01B
$36.5M 1.02%
333,221
+14,526
+5% +$1.67M
FAST icon
19
Fastenal
FAST
$54.8B
$33.4M 0.94%
1,805,762
-11,987,784
-87% -$214M
DESP
20
DELISTED
Despegar.com
DESP
$29.4M 0.83%
2,182,693
-150,028
-6% -$1.77M
NATI
21
DELISTED
National Instruments Corp
NATI
$26.9M 0.75%
634,398
-776,413
-55% -$32.5M
TRIP icon
22
TripAdvisor
TRIP
$1.7B
$20.7M 0.58%
680,611
-3,771,309
-85% -$127M
SCOR icon
23
Comscore
SCOR
$113M
$10.7M 0.3%
108,291
-10,933
-9% -$748K
ELF icon
24
e.l.f. Beauty
ELF
$4.77B
– –
-11,052
Closed -$194K

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Bares Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Bares Capital Management held 24 positions worth $3.57B, up 7% from $3.33B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Bares Capital Management deployed $152M of net new capital in Q4 2019, adding to 12 existing holdings.

By sector, the portfolio is most concentrated in Technology at 48% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Fastenal, an estimated $214M trimmed.

  • Bares Capital Management added most to Pegasystems in Q4 2019, an estimated $236M increase.
  • Bares Capital Management's biggest Q4 2019 reduction was Fastenal, cutting an estimated $214M.
  • Bares Capital Management fully exited e.l.f. Beauty in Q4 2019, selling an estimated $194K.
  • Bares Capital Management's ten largest holdings make up 84% of its $3.57B portfolio in Q4 2019.
  • Bares Capital Management opened 0 new positions and closed 1 in Q4 2019.
  • Bares Capital Management's portfolio value rose 7% quarter-over-quarter to $3.57B.

Based on Bares Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.