Bares Capital Management, Inc.
Filing Date
Global Rank
#1,667
/ 7,976
▼ 15
Top Industry
Software - Application
31.1%
3Y Alpha vs SPY
-19.6%
Period ended 9 months ago
Filed Nov 14, 2025 · 7mo
23 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+3.8%
SPY
+76.3%
Annualised alpha
-19.6%
Max drawdown
−34.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
23 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025Top Position
17.9%
−0.7 pts
Top 5
67.0%
−4.1 pts
Top 10
96.4%
−2.2 pts
HHI
1,132
Diversified−111
Portfolio Trend
23 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 45.3% | $491,063,240 |
| Healthcare | 17.1% | $185,381,561 |
| Consumer Cyclical | 14.3% | $154,733,695 |
| Financial Services | 13.1% | $141,856,666 |
| Real Estate | 9.5% | $103,458,796 |
| Industrials | 0.7% | $7,375,930 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
4 positions
Trimmed
Positions the filer reduced
8 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| IBKR | Interactive Brokers Group, Inc. | −950,511 | 2,060,589 | $141,789,129 | |
| PEGA | Pegasystems Inc | −162,371 | 3,380,345 | $194,369,837 | |
| XYZ | Block, Inc. | −157,116 | 1,991,847 | $143,950,782 | |
| SNEX | StoneX Group Inc. | −99,500 | 402 | $27,046 | |
| W | Wayfair Inc. | −63,526 | 672,486 | $60,073,174 | |
| MEDP | Medpace Holdings, Inc. | −45,577 | 111,507 | $57,332,439 | |
| VEEV | Veeva Systems Inc | −20,001 | 73,360 | $21,854,677 | |
| ETSY | Etsy Inc | −7,646 | 1,425,825 | $94,660,521 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
6 positions ·
$491,063,240 total
· Technology only
· as of Sep 30, 2025
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| PEGA |
Pegasystems Inc
Technology
|
Reduced | 3,380,345 | $194,369,837 | 39.58% | |
| XYZ |
Block, Inc.
Technology
|
Reduced | 1,991,847 | $143,950,782 | 29.31% | |
| WDAY |
Workday, Inc.
Technology
|
Added | 593,755 | $142,934,641 | 29.11% | |
| ONTO |
Onto Innovation Inc.
Technology
|
NEW | 75,450 | $9,749,649 | 1.99% | |
| APH |
Amphenol Corp /De/
Technology
|
Held | 353 | $43,683 | 0.01% | |
| TYL |
Tyler Technologies Inc
Technology
|
Held | 28 | $14,648 | 0.00% |