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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
-10.72%
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
$2.08B
AUM Growth
-$441M
Cap. Flow
-$133M
Cap. Flow %
-6.37%
Top 10 Hldgs %
86.76%
Holding
31
New
–
Increased
10
Reduced
17
Closed
2

Top Buys

Rank Stock Value
1
WDAY icon
Workday
WDAY
+$7.4M
2
UPWK icon
Upwork
UPWK
+$4.03M
3
SNEX icon
StoneX
SNEX
+$2.16M
4
ZUO
Zuora, Inc.
ZUO
+$1.86M
5
VEEV icon
Veeva Systems
VEEV
+$1.61M

Top Sells

Rank Stock Value
1
IBKR icon
Interactive Brokers
IBKR
+$33.1M
2
W icon
Wayfair
W
+$25.6M
3
CSGP icon
CoStar Group
CSGP
+$16.6M
4
MODN
MODEL N, INC.
MODN
+$16.1M
5
ALGN icon
Align Technology
ALGN
+$13.6M

Sector Composition

Rank Sector Weight
1 Technology 46.46%
2 Consumer Discretionary 16.69%
3 Financials 16.46%
4 Healthcare 10.58%
5 Real Estate 4.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PEGA icon
1
Pegasystems
PEGA
$5.09B
$330M 15.86%
10,895,732
-257,920
-2% -$7.73M
IBKR icon
2
Interactive Brokers
IBKR
$38.4B
$311M 14.93%
10,130,660
-1,109,864
-10% -$33.1M
WDAY icon
3
Workday
WDAY
$41.5B
$258M 12.43%
1,155,675
+30,719
+3% +$7.4M
XYZ
4
Block Inc
XYZ
$48.9B
$256M 12.3%
3,966,279
-19,200
-0.5% -$1.34M
ETSY icon
5
Etsy
ETSY
$8.12B
$226M 10.88%
3,833,881
-24,336
-0.6% -$1.56M
ALGN icon
6
Align Technology
ALGN
$12.9B
$186M 8.95%
771,193
-48,737
-6% -$13.6M
CSGP icon
7
CoStar Group
CSGP
$12.2B
$103M 4.93%
1,382,835
-195,900
-12% -$16.6M
W icon
8
Wayfair
W
$11.8B
$74.1M 3.56%
1,405,582
-430,500
-23% -$25.6M
ALRM icon
9
Alarm.com
ALRM
$2.75B
$36.5M 1.75%
573,911
-20,000
-3% -$1.32M
XPEL icon
10
XPEL
XPEL
$1.22B
$24M 1.16%
676,082
-50,000
-7% -$2.15M
VEEV icon
11
Veeva Systems
VEEV
$33.8B
$21.3M 1.03%
116,599
+8,095
+7% +$1.61M
TFIN icon
12
Triumph Financial Inc
TFIN
$1.81B
$20.9M 1.01%
256,235
– –
ZUO
13
DELISTED
Zuora, Inc.
ZUO
$19.3M 0.93%
1,940,000
+193,708
+11% +$1.86M
ATRO icon
14
Astronics
ATRO
$3.21B
$18.1M 0.87%
1,085,221
+6,000
+0.6% +$93.1K
FC icon
15
Franklin Covey
FC
$239M
$17.7M 0.85%
466,661
+5,000
+1% +$188K
WOW
16
DELISTED
WideOpenWest
WOW
$17.5M 0.84%
3,237,870
+68,666
+2% +$304K
ESI icon
17
Element Solutions
ESI
$8.48B
$17.4M 0.84%
641,389
-50,000
-7% -$1.23M
AGYS icon
18
Agilysys
AGYS
$3.21B
$16.7M 0.8%
160,000
-20,000
-11% -$1.79M
DESP
19
DELISTED
Despegar.com
DESP
$15.5M 0.75%
1,174,447
-565,013
-32% -$7.44M
CMPR icon
20
Cimpress
CMPR
$2.37B
$15.4M 0.74%
176,031
-49,000
-22% -$4.27M
UPWK icon
21
Upwork
UPWK
$1.18B
$15.3M 0.74%
1,425,000
+355,000
+33% +$4.03M
IRMD icon
22
iRadimed
IRMD
$1.2B
$12.5M 0.6%
283,600
+4,600
+2% +$196K
TWLO icon
23
Twilio
TWLO
$28.6B
$12.3M 0.59%
216,135
-42,595
-16% -$2.51M
PD icon
24
PagerDuty
PD
$830M
$11.9M 0.57%
519,286
– –
SNEX icon
25
StoneX
SNEX
$8.72B
$10.7M 0.52%
480,938
+101,250
+27% +$2.16M
1
2

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BFS
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Bares Capital Management's Q2 2024 Portfolio in Review

As of Q2 2024, Bares Capital Management held 31 positions worth $2.08B, down 17% from $2.52B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Bares Capital Management withdrew a net $133M in Q2 2024, closing 2 positions and reducing 17 holdings. Its most notable exit was MODEL N, INC., an estimated $16.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 46% of assets, up from 45% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Bares Capital Management added an estimated $7.4M to Workday.

  • Bares Capital Management added most to Workday in Q2 2024, an estimated $7.4M increase.
  • Bares Capital Management's biggest Q2 2024 reduction was Interactive Brokers, cutting an estimated $33.1M.
  • Bares Capital Management fully exited MODEL N, INC. in Q2 2024, selling an estimated $16.1M.
  • Bares Capital Management's ten largest holdings make up 87% of its $2.08B portfolio in Q2 2024.
  • Bares Capital Management opened 0 new positions and closed 2 in Q2 2024.
  • Bares Capital Management's portfolio value fell 17% quarter-over-quarter to $2.08B.

Based on Bares Capital Management's 13F filing for Q2 2024, filed 14 Aug 2024.