Bares Capital Management
13F Holdings and Portfolio Analysis
Brian Bares 2025 Q3 13F holdings, quarterly changes, portfolio value trend and position weight distribution.
Bares Capital Management Overview
Bares Capital Management held 24 stocks in 2025 Q3, with total market value around $1.08B.
Bares Capital Management's top five holdings in 2025 Q3: Pegasystems Inc(PEGA) 17.93%, Block, Inc.(XYZ) 13.28%, WORKDAY INC CL A(WDAY) 13.19%, INTERACTIVE BROKERS GRO-CL A(IBKR) 13.08%, COSTAR GROUP INC COM(CSGP) 9.54%.
- Portfolio Value
- $1.08B
- Current Holdings
- 24 stocks
- New / Increased
- 2 / 4
- Reduced / Exited
- 8 / 0
Current Holdings
| 1 | Pegasystems IncPEGA | 0.19 | 17.93% | 3.38 -4.58% | $57.50 | - | $112.62 | -0.16 | 6.25 | -$0.19B-48.94% | Reduced |
| 2 | Block, Inc.XYZ | 0.14 | 13.28% | 1.99 -7.31% | $72.27 | $75.20 +4.05% | $35.88 | -0.16 | 7.50 | +$0.08B+109.58% | Reduced |
| 3 | WORKDAY INC CL AWDAY | 0.14 | 13.19% | 0.59 +11.43% | $240.73 | $146.95 -38.96% | $159.26 | +0.06 | 7.50 | -$0.01B-7.73% | Increased |
| 4 | INTERACTIVE BROKERS GRO-CL AIBKR | 0.14 | 13.08% | 2.06 -31.57% | $68.81 | - | $81.13 | -0.95 | 10.25 | -$0.03B-15.18% | Reduced |
| 5 | COSTAR GROUP INC COMCSGP | 0.10 | 9.54% | 1.23 +0.95% | $84.37 | $32.72 -61.22% | $51.21 | +0.01 | 9.50 | -$0.02B-36.10% | Increased |
| 6 | ETSY INCETSY | 0.09 | 8.73% | 1.43 -0.53% | $66.39 | - | $70.67 | -0.01 | 4.50 | -$0.01B-6.05% | Reduced |
| 7 | Align Technology, Inc.ALGN | 0.08 | 7.04% | 0.61 +19.01% | $125.22 | $130.45 +4.18% | $217.58 | +0.10 | 7.00 | -$0.05B-40.05% | Increased |
| 8 | Wayfair IncW | 0.06 | 5.54% | 0.67 -8.63% | $89.33 | - | $96.14 | -0.06 | 6.75 | -$0.00B-7.09% | Reduced |
| 9 | MEDPACE HLDGS INC COMMEDP | 0.06 | 5.29% | 0.11 -29.01% | $514.16 | - | $470.35 | -0.05 | 0.75 | +$0.00B+9.32% | Reduced |
| 10 | Globus Medical Inc Class AGMED | 0.03 | 2.75% | 0.52 | $57.27 | - | $57.27 | +0.52 | 0.25 | $0.00B0.00% | New |
| 11 | VEEVA SYS INC CL A COMVEEV | 0.02 | 2.02% | 0.07 -21.42% | $297.91 | $178.72 -40.01% | $226.40 | -0.02 | 1.75 | -$0.00B-21.06% | Reduced |
| 12 | Onto Innovation Inc.ONTO | 0.01 | 0.90% | 0.08 | $129.22 | - | $129.22 | +0.08 | 0.25 | $0.00B0.00% | New |
| 13 | Middleby CorpMIDD | 0.01 | 0.67% | 0.05 - | $132.93 | - | $144.00 | 0.00 | 0.50 | -$0.00B-7.69% | Held |
| 14 | AMPHENOL CORP NEW CL AAPH | 0.00 | 0.00% | 0.00 - | $123.75 | - | $65.59 | 0.00 | 0.75 | +$0.00B+88.68% | Held |
| 15 | StoneX Group IncSNEX | 0.00 | 0.00% | 0.00 -99.60% | $100.92 | - | $76.38 | -0.10 | 0.75 | +$0.00B+32.13% | Reduced |
| 16 | HEICO CORP NEW CL AHEI.A | 0.00 | 0.00% | 0.00 - | $254.09 | - | $210.97 | 0.00 | 0.75 | +$0.00B+20.44% | Held |
| 17 | APi Group Corporation COM STKAPG | 0.00 | 0.00% | 0.00 +49.91% | $34.37 | - | $34.03 | +0.00 | 0.50 | +$0.00B+0.99% | Increased |
| 18 | AMETEK IncAME | 0.00 | 0.00% | 0.00 - | $188.00 | - | $172.14 | 0.00 | 0.75 | +$0.00B+9.21% | Held |
| 19 | Brown & Brown IncBRO | 0.00 | 0.00% | 0.00 - | $93.79 | - | $122.00 | 0.00 | 0.75 | -$0.00B-23.12% | Held |
| 20 | FERGUSON ENTERPRISES INC COMMON STOCKFERG | 0.00 | 0.00% | 0.00 - | $224.58 | $220.91 -1.64% | $217.75 | 0.00 | 0.50 | +$0.00B+1.45% | Held |
| 21 | Watsco IncWSO | 0.00 | 0.00% | 0.00 - | $404.31 | - | $490.52 | 0.00 | 0.75 | -$0.00B-17.58% | Held |
| 22 | Moody's CorporationMCO | 0.00 | 0.00% | 0.00 - | $476.47 | $459.29 -3.61% | $465.68 | 0.00 | 0.75 | -$0.00B-1.37% | Held |
| 23 | Tyler Technologies, Inc.TYL | 0.00 | 0.00% | 0.00 - | $523.14 | - | $581.39 | 0.00 | 0.75 | -$0.00B-10.02% | Held |
| 24 | Verisk Analytics, Inc.VRSK | 0.00 | 0.00% | 0.00 - | $251.52 | $243.36 -3.24% | $297.62 | 0.00 | 0.75 | -$0.00B-18.23% | Held |
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"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.
Portfolio Visuals
Track portfolio value, position weights and Top 10 history.