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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
+84.63%
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
$4.05B
AUM Growth
+$1.28B
Cap. Flow
-$428M
Cap. Flow %
-10.56%
Top 10 Hldgs %
92.91%
Holding
27
New
1
Increased
3
Reduced
21
Closed
2

Top Buys

Rank Stock Value
1
AYX
Alteryx Inc
AYX
+$187M
2
PEGA icon
Pegasystems
PEGA
+$58.7M
3
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
+$15.5M
4
MIDD icon
Middleby
MIDD
+$1.48M

Top Sells

Rank Stock Value
1
W icon
Wayfair
W
+$265M
2
XYZ
Block Inc
XYZ
+$77.5M
3
UA icon
Under Armour Class C
UA
+$72.8M
4
ESI icon
Element Solutions
ESI
+$50.6M
5
BOX icon
Box
BOX
+$36.3M

Sector Composition

Rank Sector Weight
1 Technology 61.26%
2 Consumer Discretionary 14.92%
3 Healthcare 9.49%
4 Real Estate 6.52%
5 Financials 5.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XYZ
1
Block Inc
XYZ
$48.9B
$655M 16.18%
6,246,363
-1,012,667
-14% -$77.5M
W icon
2
Wayfair
W
$11.8B
$591M 14.58%
2,990,042
-1,768,933
-37% -$265M
WDAY icon
3
Workday
WDAY
$41.5B
$534M 13.18%
2,849,238
-182,427
-6% -$29.5M
PEGA icon
4
Pegasystems
PEGA
$5.09B
$477M 11.78%
9,432,974
+1,354,612
+17% +$58.7M
ALGN icon
5
Align Technology
ALGN
$12.9B
$385M 9.49%
1,401,657
-146,251
-9% -$32.9M
IT icon
6
Gartner
IT
$11.1B
$293M 7.24%
2,418,294
-105,645
-4% -$12.2M
AYX
7
DELISTED
Alteryx Inc
AYX
$267M 6.6%
1,627,230
+1,444,738
+792% +$187M
CSGP icon
8
CoStar Group
CSGP
$12.2B
$264M 6.52%
3,718,100
-56,010
-1% -$3.62M
IBKR icon
9
Interactive Brokers
IBKR
$38.4B
$239M 5.89%
22,845,212
-1,475,236
-6% -$15.4M
TWLO icon
10
Twilio
TWLO
$28.6B
$59.1M 1.46%
269,438
-7,000
-3% -$1.12M
GWRE icon
11
Guidewire Software
GWRE
$13.9B
$50.1M 1.24%
451,544
-44,000
-9% -$4.23M
MIDD icon
12
Middleby
MIDD
$6.01B
$32.9M 0.81%
416,726
+22,916
+6% +$1.48M
ALRM icon
13
Alarm.com
ALRM
$2.75B
$29.8M 0.74%
460,431
-551,919
-55% -$27.8M
TYL icon
14
Tyler Technologies
TYL
$13.7B
$29.8M 0.73%
85,840
-24,450
-22% -$8.2M
BOX icon
15
Box
BOX
$4.49B
$29.8M 0.73%
1,433,211
-2,065,391
-59% -$36.3M
NATI
16
DELISTED
National Instruments Corp
NATI
$27.7M 0.68%
715,092
-7,740
-1% -$293K
FTCH
17
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$19.7M 0.49%
+1,143,104
New +$15.5M
ESI icon
18
Element Solutions
ESI
$8.48B
$19.1M 0.47%
1,762,994
-5,039,914
-74% -$50.6M
ZUO
19
DELISTED
Zuora, Inc.
ZUO
$13.3M 0.33%
1,044,134
-1,401,547
-57% -$15.6M
PZZA icon
20
Papa John's
PZZA
$1.01B
$9.64M 0.24%
121,438
-214,772
-64% -$16M
PD icon
21
PagerDuty
PD
$830M
$8.97M 0.22%
313,516
-246,057
-44% -$5.93M
MIME
22
DELISTED
Mimecast Limited
MIME
$6.28M 0.15%
150,688
-9,516
-6% -$374K
DESP
23
DELISTED
Despegar.com
DESP
$4.19M 0.1%
583,316
-747,581
-56% -$5.2M
CMPR icon
24
Cimpress
CMPR
$2.37B
$3.94M 0.1%
51,606
-81,309
-61% -$5.79M
ATRO icon
25
Astronics
ATRO
$3.21B
$1.95M 0.05%
221,928
-117,218
-35% -$916K
1
2

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Bares Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, Bares Capital Management held 27 positions worth $4.05B, up 46% from $2.77B the previous quarter. Its ten largest holdings account for 93% of the portfolio.

Bares Capital Management withdrew a net $428M in Q2 2020, closing 2 positions and reducing 21 holdings. Its most notable exit was Under Armour Class C, an estimated $72.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 61% of assets, up from 57% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Bares Capital Management opened a new position in Farfetch Limited Class A Ordinary Shares worth $19.7M.

  • Bares Capital Management's largest Q2 2020 buy was Farfetch Limited Class A Ordinary Shares: 1,143,104 shares worth $19.7M.
  • Bares Capital Management added most to Alteryx Inc in Q2 2020, an estimated $187M increase.
  • Bares Capital Management's biggest Q2 2020 reduction was Wayfair, cutting an estimated $265M.
  • Bares Capital Management fully exited Under Armour Class C in Q2 2020, selling an estimated $72.8M.
  • Bares Capital Management's ten largest holdings make up 93% of its $4.05B portfolio in Q2 2020.
  • Bares Capital Management opened 1 new position and closed 2 in Q2 2020.
  • Bares Capital Management's portfolio value rose 46% quarter-over-quarter to $4.05B.

Based on Bares Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.