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Bares Capital Management, Inc.

Q2 2025 · Filed 2025-08-14
Market Value
$1.0B
+20.9%
Holdings
24
+1
New Purchases
3
Added To
6
Closed
2
Reduced
7
Top 10 Concentration
98.3%
Turnover
20.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MEDP 4.79% 1.34% +3.45% $49M
PEGA 18.62% 16.37% +2.25% $192M
MIDD 0.76% 0.00% +0.76% $8M
W 3.65% 2.99% +0.66% $38M
APG 0.00% 0.00% +0.00% $30K
FERG 0.00% 0.00% +0.00% $22K
APH 0.00% 0.00% +0.00% $35K
HEI-A 0.00% 0.00% +0.00% $32K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WDAY 12.41% 15.65% -3.23% $128M
ETSY 6.98% 8.36% -1.38% $72M
CSGP 9.48% 10.54% -1.06% $98M
ALGN 9.42% 10.03% -0.61% $97M
SQ 14.17% 14.47% -0.29% $146M
VEEV 2.61% 2.84% -0.23% $27M
IBKR 16.20% 16.42% -0.22% $167M
SNEX 0.88% 0.99% -0.10% $9M
KAI 0.00% 0.00% -0.00% $0
DHR 0.00% 0.00% -0.00% $0
AME 0.00% 0.00% -0.00% $28K
BRO 0.00% 0.00% -0.00% $29K
TYL 0.00% 0.00% -0.00% $17K
VRSK 0.00% 0.00% -0.00% $18K
MCO 0.00% 0.00% -0.00% $17K

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 18 $712M 69.1%
Mid Cap 6 $318M 30.9%

Portfolio Analytics

Avg Market Cap
$37.8B
Median Market Cap
$18.8B
Avg P/E
32.5
Median P/E
31.8
Avg Dividend Yield
0.00%
Avg Beta
1.25
# Stocks
24
# ETFs / Funds
0

Top Holdings (24 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 PEGA 18.62% 3,542,716 $192M $54.13 $52M +1,536,726 +76.6%
2 IBKR 16.20% 3,011,100 $167M $55.41 $27M +2,166,563 +256.5%
3 SQ 14.17% 2,148,963 $146M $67.93 $23M -119,142 -5.2%
4 WDAY 12.41% 532,835 $128M $240.00 -$5M -37,998 -6.7%
5 CSGP 9.48% 1,214,652 $98M $80.40 $8M +81,650 +7.2%
6 ALGN 9.42% 512,344 $97M $189.33 $12M -25,262 -4.7%
7 ETSY 6.98% 1,433,471 $72M $50.16 $708K -75,530 -5.0%
8 MEDP 4.79% 157,084 $49M $313.86 $38M +119,608 +319.2%
9 W 3.65% 736,012 $38M $51.14 $12M -59,049 -7.4%
10 VEEV 2.61% 93,361 $27M $287.98 $3M -11,000 -10.5%
11 SNEX 0.88% 99,902 $9M $91.14 $711K -10,000 -9.1%
12 MIDD 0.76% 54,625 $8M $144.00 +54,625 NEW
13 APH —% 353 $35K $98.75 $12K
14 HEI-A —% 122 $32K $258.75 $6K
15 APG —% 585 $30K $51.05 +585 NEW
16 BRO —% 259 $29K $110.87 $2K +46 +21.6%
17 AME —% 152 $28K $180.96 $1K
18 FERG —% 103 $22K $217.75 +103 NEW
19 WSO —% 45 $20K $441.62 $3K +12 +36.4%
20 VRSK —% 58 $18K $311.50 $805
21 MCO —% 34 $17K $501.59 $1K
22 TYL —% 28 $17K $592.86 $321
23 KAI —% -$20K -60 -100.0% SOLD
24 DHR —% -$14K -68 -100.0% SOLD

New Positions

SymbolValue% Port
MIDD $8M 0.76%
APG $30K —%
FERG $22K —%

Sold Out Positions

SymbolValue% Port
DHR —%
KAI —%
View SEC EDGAR Filings for Bares Capital Management, Inc. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms