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Bares Capital Management, Inc.

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$1.1B

Reporting period: 2025-09-30 · Number of holdings: 24

Bares Capital Management, Inc. disclosed 24 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $1.1B and a quarterly turnover rate of 25.7%.

Personality snowflake

Concentration
45.26
Portfolio Stability
25.69
Momentum/Contrarian
100
Sector conviction
100
Diversification
48
Sizing Uniformity
86.62

Recent moves

  • Add MEDP

    -29.0%　$45.9M

  • Trim IBKR

    -31.6%　$1.9M

  • Trim ALGN

    +19.0%　-$9.1M

  • Add W

    -8.6%　$34.6M

  • Trim WDAY

    +11.4%　$9.6M

  • Add PEGA

    -4.6%　$54.9M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1PEGAPegasystems INCStock-Tech17.93%+1.56%-4.58%
2XYZBlock INCStock-Financials13.28%-1.19%-7.31%
3WDAYWorkday Inc-class AStock-Tech13.19%-2.46%+11.43%
4IBKRInteractive Brokers Gro-cl AStock-Financials13.08%-3.34%-31.57%
5CSGPCostar Group INCStock-Real Estate9.54%-1.00%+0.95%
6ETSYEtsy INCStock-Consumer Disc8.73%+0.37%-0.53%
7ALGNAlign Technology INCStock-Healthcare7.04%-2.99%+19.01%
8WWayfair Inc- Class AStock-Consumer Disc5.54%+2.55%-8.63%
9MEDPMedpace Holdings INCStock-Healthcare5.29%+3.95%-29.01%
10GMEDGlobus Medical INC - AStock-Healthcare2.75%+2.75%NEW
11VEEVVeeva Systems Inc-class AStock-Healthcare2.02%-0.82%-21.42%
12ONTOOnto Innovation INCStock-Tech0.90%+0.90%NEW
13MIDDMiddleby CORPStock-Industrials0.67%+0.67%NEW
14APHAmphenol Corp-cl AStock-Tech———
15SNEXStonex Group INCStock-Financials—-0.99%-99.60%
16HEI-AHeico Corp-class AStock-Other———
17APGApi Group CORPStock-Industrials——NEW
18AMEAmetek INCStock-Industrials———
19BROBrown & Brown INCStock-Financials———
20FERGFerguson Enterprises INCStock-Industrials——NEW
21WSOWatsco INCStock-Industrials———
22MCOMoody's CORPStock-Financials———
23TYLTyler Technologies INCStock-Tech———
24VRSKVerisk Analytics INCStock-Industrials———

Holding changes this quarter

Bares Capital Management, Inc.'s most significant position changes for 2025-09-30: New buy: Globus Medical INC - A (GMED); New buy: Onto Innovation INC (ONTO); New buy: Middleby CORP (MIDD); New buy: Api Group CORP (APG); New buy: Ferguson Enterprises INC (FERG).

Position changes disclosed by Bares Capital Management, Inc. for the quarter ending 2025-09-30, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1MEDPMedpace Holdings INC+4%-29.01%Add
2WWayfair Inc- Class A+2.6%-8.63%Trim
3PEGAPegasystems INC+1.6%-4.58%Add
4ETSYEtsy INC+0.4%-0.53%Trim
5APHAmphenol Corp-cl A——Unchanged
6HEI-AHeico Corp-class A——Unchanged
7VRSKVerisk Analytics INC——Unchanged
8AMEAmetek INC——Unchanged
9BROBrown & Brown INC——Add
10TYLTyler Technologies INC——Unchanged
11WSOWatsco INC——Add
12MCOMoody's CORP——Unchanged
13VEEVVeeva Systems Inc-class A-0.8%-21.42%Trim
14SNEXStonex Group INC-1%-99.60%Trim
15CSGPCostar Group INC-1%+0.95%Add
16XYZBlock INC-1.2%-7.31%Trim
17WDAYWorkday Inc-class A-2.5%+11.43%Add
18ALGNAlign Technology INC-3%+19.01%Add
19IBKRInteractive Brokers Gro-cl A-3.3%-31.57%Add
20GMEDGlobus Medical INC - A—NEWNew buy
21ONTOOnto Innovation INC—NEWNew buy
22MIDDMiddleby CORP—NEWNew buy
23APGApi Group CORP—NEWNew buy
24FERGFerguson Enterprises INC—NEWNew buy
25KAIKadant INC—EXITSold out
26DHRDanaher CORP—EXITSold out

FAQ

What is Bares Capital Management, Inc. and what type of investor is it?
Bares Capital Management, Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-09-30), the firm manages a tracked equity portfolio valued at approximately $1.1B, spread across 24 disclosed positions.
What are Bares Capital Management, Inc.'s largest equity positions?
Based on the latest 13F filing, Bares Capital Management, Inc.'s top holdings by market value are: 1. Pegasystems INC (PEGA) — $194.4M (17.9%) 2. Block INC (XYZ) — $144.0M (13.3%) 3. Workday Inc-class A (WDAY) — $142.9M (13.2%) 4. Interactive Brokers Gro-cl A (IBKR) — $141.8M (13.1%) 5. Costar Group INC (CSGP) — $103.5M (9.5%)
What changes did Bares Capital Management, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Bares Capital Management, Inc. made 20 notable position adjustments: 5 new positions were initiated, 8 existing holdings were added to, 5 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Globus Medical INC - A (GMED); New buy: Onto Innovation INC (ONTO); New buy: Middleby CORP (MIDD); New buy: Api Group CORP (APG); New buy: Ferguson Enterprises INC (FERG)
What sectors does Bares Capital Management, Inc. focus on?
Bares Capital Management, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 36.9% • Information Technology: 36.6% • Real Estate: 26.5%