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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
+11.98%
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
$2.52B
AUM Growth
-$28.4M
Cap. Flow
-$229M
Cap. Flow %
-9.08%
Top 10 Hldgs %
87.77%
Holding
33
New
1
Increased
9
Reduced
17
Closed
2

Top Buys

Rank Stock Value
1
ALGN icon
Align Technology
ALGN
+$74M
2
IBKR icon
Interactive Brokers
IBKR
+$26.3M
3
VEEV icon
Veeva Systems
VEEV
+$23.4M
4
ZUO
Zuora, Inc.
ZUO
+$4.46M
5
WOW
WideOpenWest
WOW
+$1.92M

Top Sells

Rank Stock Value
1
AYX
Alteryx Inc
AYX
+$117M
2
WDAY icon
Workday
WDAY
+$63.6M
3
XYZ
Block Inc
XYZ
+$36.3M
4
CSGP icon
CoStar Group
CSGP
+$34.1M
5
W icon
Wayfair
W
+$22M

Sector Composition

Rank Sector Weight
1 Technology 45.46%
2 Consumer Discretionary 18.13%
3 Financials 13.58%
4 Healthcare 12.29%
5 Real Estate 6.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PEGA icon
1
Pegasystems
PEGA
$5.09B
$360M 14.31%
11,153,652
-571,040
-5% -$16M
XYZ
2
Block Inc
XYZ
$48.9B
$337M 13.38%
3,985,479
-501,772
-11% -$36.3M
IBKR icon
3
Interactive Brokers
IBKR
$38.4B
$314M 12.46%
11,240,524
+1,058,172
+10% +$26.3M
WDAY icon
4
Workday
WDAY
$41.5B
$307M 12.18%
1,124,956
-223,511
-17% -$63.6M
ALGN icon
5
Align Technology
ALGN
$12.9B
$269M 10.67%
819,930
+252,220
+44% +$74M
ETSY icon
6
Etsy
ETSY
$8.12B
$265M 10.52%
3,858,217
-222,121
-5% -$15.9M
CSGP icon
7
CoStar Group
CSGP
$12.2B
$153M 6.05%
1,578,735
-396,460
-20% -$34.1M
W icon
8
Wayfair
W
$11.8B
$125M 4.95%
1,836,082
-388,825
-17% -$22M
ALRM icon
9
Alarm.com
ALRM
$2.75B
$43M 1.71%
593,911
-71,223
-11% -$4.84M
XPEL icon
10
XPEL
XPEL
$1.22B
$39.2M 1.56%
726,082
– –
VEEV icon
11
Veeva Systems
VEEV
$33.8B
$25.1M 1%
+108,504
New +$23.4M
DESP
12
DELISTED
Despegar.com
DESP
$20.8M 0.83%
1,739,460
-339,703
-16% -$3.22M
TFIN icon
13
Triumph Financial Inc
TFIN
$1.81B
$20.3M 0.81%
256,235
– –
CMPR icon
14
Cimpress
CMPR
$2.37B
$19.9M 0.79%
225,031
-35,592
-14% -$3.02M
FC icon
15
Franklin Covey
FC
$239M
$18.1M 0.72%
461,661
+3,570
+0.8% +$142K
ESI icon
16
Element Solutions
ESI
$8.48B
$17.3M 0.69%
691,389
-1,383
-0.2% -$32.2K
ATRO icon
17
Astronics
ATRO
$3.21B
$17.1M 0.68%
1,079,221
+101,591
+10% +$1.51M
MODN
18
DELISTED
MODEL N, INC.
MODN
$16.1M 0.64%
565,000
– –
ZUO
19
DELISTED
Zuora, Inc.
ZUO
$15.9M 0.63%
1,746,292
+511,292
+41% +$4.46M
TWLO icon
20
Twilio
TWLO
$28.6B
$15.8M 0.63%
258,730
-170,000
-40% -$11.2M
AGYS icon
21
Agilysys
AGYS
$3.21B
$15.2M 0.6%
180,000
-30,000
-14% -$2.42M
ONTO icon
22
Onto Innovation
ONTO
$10.9B
$14.3M 0.57%
79,000
-33,000
-29% -$5.57M
UPWK icon
23
Upwork
UPWK
$1.18B
$13.1M 0.52%
1,070,000
-60,000
-5% -$816K
EVTC icon
24
Evertec
EVTC
$1.97B
$12.9M 0.51%
322,449
-17,551
-5% -$692K
SSTI icon
25
SoundThinking
SSTI
$108M
$12.3M 0.49%
775,400
+36,187
+5% +$691K
1
2

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Bares Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Bares Capital Management held 33 positions worth $2.52B, down 1.1% from $2.55B the previous quarter. Its ten largest holdings account for 88% of the portfolio.

Bares Capital Management withdrew a net $229M in Q1 2024, closing 2 positions and reducing 17 holdings. Its most notable exit was Alteryx Inc, an estimated $117M position sold in full.

By sector, the portfolio is most concentrated in Technology at 45% of assets, down from 51% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Bares Capital Management opened a new position in Veeva Systems worth $25.1M.

  • Bares Capital Management's largest Q1 2024 buy was Veeva Systems: 108,504 shares worth $25.1M.
  • Bares Capital Management added most to Align Technology in Q1 2024, an estimated $74M increase.
  • Bares Capital Management's biggest Q1 2024 reduction was Workday, cutting an estimated $63.6M.
  • Bares Capital Management fully exited Alteryx Inc in Q1 2024, selling an estimated $117M.
  • Bares Capital Management's ten largest holdings make up 88% of its $2.52B portfolio in Q1 2024.
  • Bares Capital Management opened 1 new position and closed 2 in Q1 2024.
  • Bares Capital Management's portfolio value fell 1.1% quarter-over-quarter to $2.52B.

Based on Bares Capital Management's 13F filing for Q1 2024, filed 15 May 2024.