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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
+24.87%
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
$2.82B
AUM Growth
+$198M
Cap. Flow
-$314M
Cap. Flow %
-11.12%
Top 10 Hldgs %
81.58%
Holding
39
New
1
Increased
12
Reduced
26
Closed
–

Top Buys

Rank Stock Value
1
ETSY icon
Etsy
ETSY
+$64.6M
2
SSTI icon
SoundThinking
SSTI
+$8.9M
3
SNEX icon
StoneX
SNEX
+$6.22M
4
FC icon
Franklin Covey
FC
+$4.76M
5
HSKA
Heska Corp
HSKA
+$4.57M

Top Sells

Rank Stock Value
1
XYZ
Block Inc
XYZ
+$190M
2
IBKR icon
Interactive Brokers
IBKR
+$38.1M
3
WDAY icon
Workday
WDAY
+$27.1M
4
ALGN icon
Align Technology
ALGN
+$24.8M
5
AYX
Alteryx Inc
AYX
+$22.5M

Sector Composition

Rank Sector Weight
1 Technology 47.02%
2 Consumer Discretionary 18.71%
3 Healthcare 11.53%
4 Real Estate 10.92%
5 Financials 8.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WDAY icon
1
Workday
WDAY
$41.5B
$460M 16.3%
2,229,350
-148,961
-6% -$27.1M
ALGN icon
2
Align Technology
ALGN
$12.9B
$284M 10.07%
851,351
-83,895
-9% -$24.8M
XYZ
3
Block Inc
XYZ
$48.9B
$279M 9.87%
4,062,403
-2,544,371
-39% -$190M
PEGA icon
4
Pegasystems
PEGA
$5.09B
$259M 9.18%
10,699,410
-401,992
-4% -$8.47M
ETSY icon
5
Etsy
ETSY
$8.12B
$223M 7.9%
2,004,303
+521,260
+35% +$64.6M
IBKR icon
6
Interactive Brokers
IBKR
$38.4B
$214M 7.59%
10,386,684
-1,872,596
-15% -$38.1M
RDFN
7
DELISTED
Redfin
RDFN
$164M 5.8%
18,073,771
-1,810,150
-9% -$13.5M
PLNT icon
8
Planet Fitness
PLNT
$4.45B
$150M 5.3%
1,926,857
-136,295
-7% -$10.9M
CSGP icon
9
CoStar Group
CSGP
$12.2B
$145M 5.12%
2,101,058
-57,390
-3% -$4.23M
AYX
10
DELISTED
Alteryx Inc
AYX
$126M 4.45%
2,137,519
-385,746
-15% -$22.5M
W icon
11
Wayfair
W
$11.8B
$77.9M 2.76%
2,268,935
-187,764
-8% -$8.31M
XPEL icon
12
XPEL
XPEL
$1.22B
$44.1M 1.56%
649,593
-18,185
-3% -$1.28M
ALRM icon
13
Alarm.com
ALRM
$2.75B
$31.8M 1.13%
632,652
-8,206
-1% -$422K
AGYS icon
14
Agilysys
AGYS
$3.21B
$25.6M 0.91%
310,000
-194,500
-39% -$15.7M
TWLO icon
15
Twilio
TWLO
$28.6B
$22.1M 0.78%
332,377
-66,000
-17% -$4.07M
FTCH
16
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$19.5M 0.69%
3,970,887
-650,000
-14% -$3.53M
GWRE icon
17
Guidewire Software
GWRE
$13.9B
$19.1M 0.68%
232,664
-58,000
-20% -$4.22M
ONTO icon
18
Onto Innovation
ONTO
$10.9B
$18.6M 0.66%
212,000
+9,300
+5% +$754K
NATI
19
DELISTED
National Instruments Corp
NATI
$17.9M 0.63%
340,723
-123,502
-27% -$6.19M
OLO
20
DELISTED
Olo Inc
OLO
$17.7M 0.63%
2,165,424
-207,879
-9% -$1.6M
ESI icon
21
Element Solutions
ESI
$8.48B
$17.4M 0.62%
902,664
-51,324
-5% -$1.01M
HSKA
22
DELISTED
Heska Corp
HSKA
$16.1M 0.57%
165,000
+54,500
+49% +$4.57M
PD icon
23
PagerDuty
PD
$830M
$16.1M 0.57%
459,940
-333,042
-42% -$9.78M
WOW
24
DELISTED
WideOpenWest
WOW
$15.2M 0.54%
1,430,000
+172,000
+14% +$1.86M
EVTC icon
25
Evertec
EVTC
$1.97B
$14.7M 0.52%
435,000
+29,800
+7% +$1.05M
1
2

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Bares Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Bares Capital Management held 39 positions worth $2.82B, up 7.5% from $2.63B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Bares Capital Management withdrew a net $314M in Q1 2023, reducing 26 holdings. Its largest reduction was Block Inc, cutting an estimated $190M.

By sector, the portfolio is most concentrated in Technology at 47% of assets, down from 51% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Bares Capital Management opened a new position in SoundThinking worth $9.7M.

  • Bares Capital Management's largest Q1 2023 buy was SoundThinking: 246,689 shares worth $9.7M.
  • Bares Capital Management added most to Etsy in Q1 2023, an estimated $64.6M increase.
  • Bares Capital Management's biggest Q1 2023 reduction was Block Inc, cutting an estimated $190M.
  • Bares Capital Management's ten largest holdings make up 82% of its $2.82B portfolio in Q1 2023.
  • Bares Capital Management opened 1 new position and closed 0 in Q1 2023.
  • Bares Capital Management's portfolio value rose 7.5% quarter-over-quarter to $2.82B.

Based on Bares Capital Management's 13F filing for Q1 2023, filed 15 May 2023.