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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
-0.97%
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
$2.56B
AUM Growth
-$170M
Cap. Flow
-$49.6M
Cap. Flow %
-1.93%
Top 10 Hldgs %
78.03%
Holding
38
New
1
Increased
15
Reduced
18
Closed
–

Top Buys

Rank Stock Value
1
ETSY icon
Etsy
ETSY
+$73.1M
2
ALGN icon
Align Technology
ALGN
+$57.4M
3
PLNT icon
Planet Fitness
PLNT
+$41.5M
4
PEGA icon
Pegasystems
PEGA
+$8.19M
5
UPWK icon
Upwork
UPWK
+$6.94M

Top Sells

Rank Stock Value
1
W icon
Wayfair
W
+$109M
2
AYX
Alteryx Inc
AYX
+$79.6M
3
XPEL icon
XPEL
XPEL
+$15.6M
4
ALRM icon
Alarm.com
ALRM
+$14.4M
5
PD icon
PagerDuty
PD
+$12.9M

Sector Composition

Rank Sector Weight
1 Technology 50.7%
2 Consumer Discretionary 17.27%
3 Real Estate 10.65%
4 Healthcare 8.3%
5 Financials 7.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WDAY icon
1
Workday
WDAY
$41.5B
$363M 14.17%
2,387,255
-17,018
-0.7% -$2.66M
XYZ
2
Block Inc
XYZ
$48.9B
$363M 14.16%
6,606,430
-30,644
-0.5% -$2.17M
IBKR icon
3
Interactive Brokers
IBKR
$38.4B
$201M 7.85%
12,604,216
-288,744
-2% -$4.45M
ALGN icon
4
Align Technology
ALGN
$12.9B
$189M 7.38%
913,324
+223,091
+32% +$57.4M
PEGA icon
5
Pegasystems
PEGA
$5.09B
$176M 6.87%
10,970,468
+402,840
+4% +$8.19M
AYX
6
DELISTED
Alteryx Inc
AYX
$164M 6.39%
2,933,808
-1,358,198
-32% -$79.6M
CSGP icon
7
CoStar Group
CSGP
$12.2B
$157M 6.12%
2,255,303
-8,213
-0.4% -$570K
ETSY icon
8
Etsy
ETSY
$8.12B
$155M 6.02%
1,543,233
+716,680
+87% +$73.1M
PLNT icon
9
Planet Fitness
PLNT
$4.45B
$116M 4.53%
2,014,197
+575,627
+40% +$41.5M
RDFN
10
DELISTED
Redfin
RDFN
$116M 4.53%
19,883,921
-8,018
-0% -$71.2K
W icon
11
Wayfair
W
$11.8B
$93M 3.63%
2,856,699
-2,057,420
-42% -$109M
XPEL icon
12
XPEL
XPEL
$1.22B
$49.1M 1.92%
762,552
-240,802
-24% -$15.6M
FTCH
13
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$45.3M 1.77%
6,078,784
-1,227,112
-17% -$10.9M
ALRM icon
14
Alarm.com
ALRM
$2.75B
$42.7M 1.67%
658,657
-210,069
-24% -$14.4M
AGYS icon
15
Agilysys
AGYS
$3.21B
$33.5M 1.3%
604,500
– –
PD icon
16
PagerDuty
PD
$830M
$29.3M 1.14%
1,269,625
-500,133
-28% -$12.9M
TWLO icon
17
Twilio
TWLO
$28.6B
$25.7M 1%
371,377
+76,055
+26% +$6.08M
OLO
18
DELISTED
Olo Inc
OLO
$20.9M 0.82%
2,648,862
+537,650
+25% +$5.14M
MODN
19
DELISTED
MODEL N, INC.
MODN
$20.8M 0.81%
607,000
-150,000
-20% -$4.34M
NATI
20
DELISTED
National Instruments Corp
NATI
$20.5M 0.8%
542,225
-98,877
-15% -$3.74M
GWRE icon
21
Guidewire Software
GWRE
$13.9B
$19.4M 0.76%
315,256
+39,541
+14% +$2.86M
ESI icon
22
Element Solutions
ESI
$8.48B
$17.7M 0.69%
1,086,506
-65,238
-6% -$1.22M
ONTO icon
23
Onto Innovation
ONTO
$10.9B
$14.6M 0.57%
227,700
+25,000
+12% +$1.84M
ZUO
24
DELISTED
Zuora, Inc.
ZUO
$14.3M 0.56%
1,943,242
-312,506
-14% -$2.69M
PZZA icon
25
Papa John's
PZZA
$1.01B
$14.1M 0.55%
201,600
+25,000
+14% +$2.12M
1
2

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Bares Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, Bares Capital Management held 38 positions worth $2.56B, down 6.2% from $2.73B the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Trading was light in Q3 2022: portfolio turnover was 2.6%. Bares Capital Management opened 1 new position and made no exits, leaving the 38-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 51% of assets, down from 54% a quarter earlier, followed by Consumer Discretionary and Real Estate.

  • Bares Capital Management's largest Q3 2022 buy was StoneX: 202,500 shares worth $3.32M.
  • Bares Capital Management added most to Etsy in Q3 2022, an estimated $73.1M increase.
  • Bares Capital Management's biggest Q3 2022 reduction was Wayfair, cutting an estimated $109M.
  • Bares Capital Management's ten largest holdings make up 78% of its $2.56B portfolio in Q3 2022.
  • Bares Capital Management opened 1 new position and closed 0 in Q3 2022.
  • Bares Capital Management's portfolio value fell 6.2% quarter-over-quarter to $2.56B.

Based on Bares Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.