Bares Capital Management
13F Holdings and Portfolio Analysis
Brian Bares 2025 Q1 13F holdings, quarterly changes, portfolio value trend and position weight distribution.
Bares Capital Management Overview
Bares Capital Management held 21 stocks in 2025 Q1, with total market value around $0.85B.
Bares Capital Management's top five holdings in 2025 Q1: INTERACTIVE BROKERS GRO-CL A(IBKR) 16.42%, Pegasystems Inc(PEGA) 16.37%, WORKDAY INC CL A(WDAY) 15.65%, Block, Inc.(XYZ) 14.47%, COSTAR GROUP INC COM(CSGP) 10.54%.
- Portfolio Value
- $0.85B
- Current Holdings
- 21 stocks
- New / Increased
- 12 / 2
- Reduced / Exited
- 7 / 2
Current Holdings
| 1 | INTERACTIVE BROKERS GRO-CL AIBKR | 0.14 | 16.42% | 0.84 -11.26% | $165.59 | - | $51.46 | -0.11 | 9.75 | +$0.10B+221.80% | Reduced |
| 2 | Pegasystems IncPEGA | 0.14 | 16.37% | 2.01 -15.18% | $69.52 | - | $157.42 | -0.36 | 5.75 | -$0.18B-55.84% | Reduced |
| 3 | WORKDAY INC CL AWDAY | 0.13 | 15.65% | 0.57 -8.46% | $233.53 | $146.95 -37.07% | $149.95 | -0.05 | 7.00 | -$0.00B-2.00% | Reduced |
| 4 | Block, Inc.XYZ | 0.12 | 14.47% | 2.27 -12.38% | $54.33 | $75.20 +38.41% | $35.88 | -0.32 | 7.00 | +$0.09B+109.58% | Reduced |
| 5 | COSTAR GROUP INC COMCSGP | 0.09 | 10.54% | 1.13 +74.52% | $79.23 | $32.72 -58.70% | $48.76 | +0.48 | 9.00 | -$0.02B-32.90% | Increased |
| 6 | Align Technology, Inc.ALGN | 0.09 | 10.03% | 0.54 +4.77% | $158.86 | $130.45 -17.88% | $235.14 | +0.02 | 6.50 | -$0.06B-44.52% | Increased |
| 7 | ETSY INCETSY | 0.07 | 8.36% | 1.51 -20.23% | $47.18 | - | $70.67 | -0.38 | 4.00 | -$0.04B-33.24% | Reduced |
| 8 | Wayfair IncW | 0.03 | 2.99% | 0.80 -17.90% | $32.03 | - | $96.14 | -0.17 | 6.25 | -$0.05B-66.68% | Reduced |
| 9 | VEEVA SYS INC CL A COMVEEV | 0.02 | 2.84% | 0.10 -19.86% | $231.63 | $178.72 -22.84% | $226.40 | -0.03 | 1.25 | -$0.00B-21.06% | Reduced |
| 10 | MEDPACE HLDGS INC COMMEDP | 0.01 | 1.34% | 0.04 | $304.69 | - | $304.69 | +0.04 | 0.25 | $0.00B0.00% | New |
| 11 | StoneX Group IncSNEX | 0.01 | 0.99% | 0.11 | $76.38 | - | $76.38 | +0.11 | 0.25 | $0.00B0.00% | New |
| 12 | Brown & Brown IncBRO | 0.00 | 0.00% | 0.00 | $124.40 | - | $124.40 | +0.00 | 0.25 | $0.00B0.00% | New |
| 13 | AMETEK IncAME | 0.00 | 0.00% | 0.00 | $172.14 | - | $172.14 | +0.00 | 0.25 | $0.00B0.00% | New |
| 14 | HEICO CORP NEW CL AHEI.A | 0.00 | 0.00% | 0.00 | $210.97 | - | $210.97 | +0.00 | 0.25 | $0.00B0.00% | New |
| 15 | AMPHENOL CORP NEW CL AAPH | 0.00 | 0.00% | 0.00 | $65.59 | - | $65.59 | +0.00 | 0.25 | $0.00B0.00% | New |
| 16 | Kadant IncKAI | 0.00 | 0.00% | 0.00 | $336.92 | - | $336.92 | +0.00 | 0.25 | $0.00B0.00% | New |
| 17 | Verisk Analytics, Inc.VRSK | 0.00 | 0.00% | 0.00 | $297.62 | $243.36 -18.23% | $297.62 | +0.00 | 0.25 | -$0.00B-18.23% | New |
| 18 | Watsco IncWSO | 0.00 | 0.00% | 0.00 | $508.30 | - | $508.30 | +0.00 | 0.25 | $0.00B0.00% | New |
| 19 | Tyler Technologies, Inc.TYL | 0.00 | 0.00% | 0.00 | $581.39 | - | $581.39 | +0.00 | 0.25 | $0.00B0.00% | New |
| 20 | Moody's CorporationMCO | 0.00 | 0.00% | 0.00 | $465.68 | $459.29 -1.37% | $465.68 | +0.00 | 0.25 | -$0.00B-1.37% | New |
| 21 | Danaher CorporationDHR | 0.00 | 0.00% | 0.00 | $205.00 | $178.12 -13.11% | $205.00 | +0.00 | 0.25 | -$0.00B-13.11% | New |
Showing 1-21 of 21
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis is an estimate and can differ materially from the actual cost, especially in edge cases.
Cost basis estimate: from the latest uninterrupted holding period, new or increased shares are added to the cost pool at the report price; reductions remove shares at the then-average cost. Example: buy 100 shares at $10 in Q1 and add 50 shares at $16 in Q2, estimated cost basis is (100 x 10 + 50 x 16) / 150 = $12 per share.
Return shows estimated dollar return on top and percentage return below. It uses current price when available, otherwise report price.
Exited Holdings
Stocks no longer disclosed in the current 13F portfolio for 2025 Q1.
| 1 | Twilio Inc.TWLO | 0.16 | 5.00 | $64.27 | $108.08 | +$0.01B+68.17% |
| 2 | Despegar.com CorpDESP | 0.03 | 6.25 | $11.44 | $19.25 | +$0.00B+68.22% |
Showing 1-2 of 2
Exited holdings are stocks disclosed in the previous report period but no longer disclosed in the current 13F portfolio.
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis uses the same weighted cost-pool method as current holdings. Estimated exit price uses the current report period weighted report price when available, otherwise the previous report price; it does not represent the actual sale price.
Exit return shows estimated dollar return on top and percentage return below.
Portfolio Visuals
Track portfolio value, position weights and Top 10 history.