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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
+8.65%
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
$1.1B
AUM Growth
-$981M
Cap. Flow
-$1.08B
Cap. Flow %
-98.31%
Top 10 Hldgs %
98.89%
Holding
31
New
2
Increased
1
Reduced
19
Closed
9

Top Buys

Rank Stock Value
1
VEEV icon
Veeva Systems
VEEV
+$1.03M
2
IIIV icon
i3 Verticals
IIIV
+$351K
3
PZZA icon
Papa John's
PZZA
+$311K

Top Sells

Rank Stock Value
1
PEGA icon
Pegasystems
PEGA
+$184M
2
IBKR icon
Interactive Brokers
IBKR
+$175M
3
WDAY icon
Workday
WDAY
+$119M
4
ETSY icon
Etsy
ETSY
+$108M
5
XYZ
Block Inc
XYZ
+$65.4M

Sector Composition

Rank Sector Weight
1 Technology 51.61%
2 Consumer Discretionary 15.5%
3 Financials 14.2%
4 Healthcare 14.04%
5 Real Estate 4.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XYZ
1
Block Inc
XYZ
$48.9B
$198M 18.05%
2,953,234
-1,013,045
-26% -$65.4M
PEGA icon
2
Pegasystems
PEGA
$5.09B
$194M 17.67%
5,310,704
-5,585,028
-51% -$184M
WDAY icon
3
Workday
WDAY
$41.5B
$159M 14.51%
652,132
-503,543
-44% -$119M
IBKR icon
4
Interactive Brokers
IBKR
$38.4B
$156M 14.16%
4,466,096
-5,664,564
-56% -$175M
ALGN icon
5
Align Technology
ALGN
$12.9B
$129M 11.71%
505,888
-265,305
-34% -$62.6M
ETSY icon
6
Etsy
ETSY
$8.12B
$107M 9.72%
1,922,119
-1,911,762
-50% -$108M
W icon
7
Wayfair
W
$11.8B
$55.3M 5.03%
983,522
-422,060
-30% -$20.3M
CSGP icon
8
CoStar Group
CSGP
$12.2B
$48.9M 4.45%
648,467
-734,368
-53% -$55.7M
VEEV icon
9
Veeva Systems
VEEV
$33.8B
$25.6M 2.33%
121,830
+5,231
+4% +$1.03M
TWLO icon
10
Twilio
TWLO
$28.6B
$14M 1.27%
214,135
-2,000
-0.9% -$120K
DESP
11
DELISTED
Despegar.com
DESP
$7.23M 0.66%
583,447
-591,000
-50% -$7.11M
ALRM icon
12
Alarm.com
ALRM
$2.75B
$711K 0.06%
12,998
-560,913
-98% -$34.4M
XPEL icon
13
XPEL
XPEL
$1.22B
$654K 0.06%
15,070
-661,012
-98% -$26.7M
FC icon
14
Franklin Covey
FC
$239M
$496K 0.05%
12,061
-454,600
-97% -$18.2M
ATRO icon
15
Astronics
ATRO
$3.21B
$484K 0.04%
29,821
-1,055,400
-97% -$17.9M
ESI icon
16
Element Solutions
ESI
$8.48B
$445K 0.04%
16,389
-625,000
-97% -$16.4M
WOW
17
DELISTED
WideOpenWest
WOW
$424K 0.04%
80,729
-3,157,141
-98% -$16.8M
CMPR icon
18
Cimpress
CMPR
$2.37B
$412K 0.04%
5,031
-171,000
-97% -$15.2M
TFIN icon
19
Triumph Financial Inc
TFIN
$1.81B
$379K 0.03%
4,759
-251,476
-98% -$21M
PZZA icon
20
Papa John's
PZZA
$1.01B
$363K 0.03%
+6,747
New +$311K
IIIV icon
21
i3 Verticals
IIIV
$419M
$334K 0.03%
+15,655
New +$351K
PD icon
22
PagerDuty
PD
$830M
$254K 0.02%
13,709
-505,577
-97% -$9.86M
AGYS icon
23
Agilysys
AGYS
$3.21B
– –
-160,000
Closed -$16.7M
EVTC icon
24
Evertec
EVTC
$1.97B
– –
-285,000
Closed -$9.48M
IRMD icon
25
iRadimed
IRMD
$1.2B
– –
-283,600
Closed -$12.5M
1
2

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Bares Capital Management's Q3 2024 Portfolio in Review

As of Q3 2024, Bares Capital Management held 31 positions worth $1.1B, down 47% from $2.08B the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Bares Capital Management withdrew a net $1.08B in Q3 2024, closing 9 positions and reducing 19 holdings. Its most notable exit was Zuora, Inc., an estimated $19.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 52% of assets, up from 46% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Bares Capital Management opened a new position in i3 Verticals worth $334K.

  • Bares Capital Management's largest Q3 2024 buy was i3 Verticals: 15,655 shares worth $334K.
  • Bares Capital Management added most to Veeva Systems in Q3 2024, an estimated $1.03M increase.
  • Bares Capital Management's biggest Q3 2024 reduction was Pegasystems, cutting an estimated $184M.
  • Bares Capital Management fully exited Zuora, Inc. in Q3 2024, selling an estimated $19.3M.
  • Bares Capital Management's ten largest holdings make up 99% of its $1.1B portfolio in Q3 2024.
  • Bares Capital Management opened 2 new positions and closed 9 in Q3 2024.
  • Bares Capital Management's portfolio value fell 47% quarter-over-quarter to $1.1B.

Based on Bares Capital Management's 13F filing for Q3 2024, filed 18 Nov 2024.