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Bares Capital Management, Inc.

Q3 2025 · Filed 2025-11-14
Market Value
$1.1B
+5.2%
Holdings
24
New Purchases
2
Added To
4
Closed
0
Reduced
8
Top 10 Concentration
96.4%
Turnover
8.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GMED 2.75% 0.00% +2.75% $30M
W 5.54% 3.65% +1.89% $60M
ETSY 8.73% 6.98% +1.75% $95M
ONTO 0.90% 0.00% +0.90% $10M
WDAY 13.19% 12.41% +0.77% $143M
MEDP 5.29% 4.79% +0.50% $57M
CSGP 9.54% 9.48% +0.06% $103M
APH 0.00% 0.00% +0.00% $44K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBKR 13.08% 16.20% -3.12% $142M
ALGN 7.04% 9.42% -2.37% $76M
SQ 13.28% 14.17% -0.89% $144M
SNEX 0.00% 0.88% -0.88% $41K
PEGA 17.93% 18.62% -0.68% $194M
VEEV 2.02% 2.61% -0.59% $22M
MIDD 0.67% 0.76% -0.09% $7M
BRO 0.00% 0.00% -0.00% $24K
VRSK 0.00% 0.00% -0.00% $15K
TYL 0.00% 0.00% -0.00% $15K
WSO 0.00% 0.00% -0.00% $18K
HEI-A 0.00% 0.00% -0.00% $31K
MCO 0.00% 0.00% -0.00% $16K
APG 0.00% 0.00% -0.00% $30K
FERG 0.00% 0.00% -0.00% $23K

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 19 $728M 67.1%
Mid Cap 5 $356M 32.9%

Portfolio Analytics

Avg Market Cap
$33.6B
Median Market Cap
$16.6B
Avg P/E
36.0
Median P/E
29.0
Avg Dividend Yield
0.00%
Avg Beta
1.28
# 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 17.93% 3,380,345 $194M $57.50 $3M -162,371 -4.6%
2 SQ 13.28% 1,991,847 $144M $72.27 -$2M -157,116 -7.3%
3 WDAY 13.19% 593,755 $143M $240.73 $15M +60,920 +11.4%
4 IBKR 13.08% 2,060,589 $142M $68.81 -$25M -950,511 -31.6%
5 CSGP 9.54% 1,226,251 $103M $84.37 $6M +11,599 +0.9%
6 ETSY 8.73% 1,425,825 $95M $66.39 $23M -7,646 -0.5%
7 ALGN 7.04% 609,722 $76M $125.22 -$21M +97,378 +19.0%
8 W 5.54% 672,486 $60M $89.33 $22M -63,526 -8.6%
9 MEDP 5.29% 111,507 $57M $514.16 $8M -45,577 -29.0%
10 GMED 2.75% 521,129 $30M $57.27 +521,129 NEW
11 VEEV 2.02% 73,360 $22M $297.91 -$5M -20,001 -21.4%
12 ONTO 0.90% 75,450 $10M $129.22 +75,450 NEW
13 MIDD 0.67% 54,625 $7M $132.93 -$605K
14 APH —% 353 $44K $123.75 $9K
15 SNEX —% 402 $41K $100.92 -$9M -99,500 -99.6%
16 HEI-A —% 122 $31K $254.09 -$569
17 APG —% 877 $30K $34.37 $278 +292 +49.9%
18 AME —% 152 $29K $188.00 $1K
19 BRO —% 259 $24K $93.79 -$4K
20 FERG —% 103 $23K $224.58 $704
21 WSO —% 45 $18K $404.31 -$2K
22 MCO —% 34 $16K $476.47 -$854
23 TYL —% 28 $15K $523.14 -$2K
24 VRSK —% 58 $15K $251.52 -$3K

New Positions

SymbolValue% Port
GMED $30M 2.75%
ONTO $10M 0.90%
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