Bares Capital Management, Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Bares Capital Management, Inc. reported 29 stock positions worth $2.1 billion. Its top holding was Pegasystems (PEGA) at 15.9% of the portfolio, followed by Interactive Brokers Gro Class A (IBKR, 14.9%) and Workday Class A (WDAY, 12.4%). Compared with Q1 2024, it sold out of 2, added to 10 and reduced 17. The biggest buy was Wideopenwest (WOW, shares +2%) and the biggest sale Align Technology (ALGN, shares −6%).
- Most Recent 13F
- Q3 2025
- Location
- AUSTIN, TX
- CIK
- 0001340807
- Portfolio Value
- $2.1B (Q2 2024)
- SEC Filing
- 0001340807-24-000006 ↗ filed Aug 14, 2024
Holdings Value
Holdings 29 stocks · $2.1B
| PEGA Pegasystems Inc. | 15.86% | 5,447,866 | $329.8M | Reduce -2.3% |
| IBKR Interactive Brokers Gro Class A | 14.93% | 2,532,665 | $310.5M | Reduce -9.9% |
| WDAY Workday Inc. Class A | 12.43% | 1,155,675 | $258.4M | Add +2.7% |
| XYZ Block Inc. | 12.30% | 3,966,279 | $255.8M | Reduce -0.5% |
| ETSY Etsy Inc. | 10.88% | 3,833,881 | $226.1M | Reduce -0.6% |
| ALGN Align Technology Inc. | 8.95% | 771,193 | $186.2M | Reduce -5.9% |
| CSGP Costar Group Inc. | 4.93% | 1,382,835 | $102.5M | Reduce -12.4% |
| W Wayfair Inc. Class A | 3.56% | 1,405,582 | $74.1M | Reduce -23.4% |
| ALRM Alarm.com Holdings Inc. | 1.75% | 573,911 | $36.5M | Reduce -3.4% |
| XPEL Xpel Inc. | 1.16% | 676,082 | $24.0M | Reduce -6.9% |
| VEEV Veeva Systems Inc. Class A | 1.03% | 116,599 | $21.3M | Add +7.5% |
| TFIN Triumph Financial Inc. | 1.01% | 256,235 | $20.9M | No change |
| ZUO Zuora Inc. Class A | 0.93% | 1,940,000 | $19.3M | Add +11.1% |
| ATRO Astronics Corp. | 0.87% | 904,351 | $18.1M | Add +0.6% |
| FC Franklin Covey Co. | 0.85% | 466,661 | $17.7M | Add +1.1% |
| WOW Wideopenwest Inc. | 0.84% | 3,237,870 | $17.5M | Add +2.2% |
| ESI Element Solutions Inc. | 0.84% | 641,389 | $17.4M | Reduce -7.2% |
| AGYS Agilysys Inc. | 0.80% | 160,000 | $16.7M | Reduce -11.1% |
| DESP Despegar.com Corp. | 0.75% | 1,174,447 | $15.5M | Reduce -32.5% |
| CMPR Cimpress PLC | 0.74% | 176,031 | $15.4M | Reduce -21.8% |
| UPWK Upwork Inc. | 0.74% | 1,425,000 | $15.3M | Add +33.2% |
| IRMD Iradimed Corp. | 0.60% | 283,600 | $12.5M | Add +1.6% |
| TWLO Twilio Inc. Class A | 0.59% | 216,135 | $12.3M | Reduce -16.5% |
| PD Pagerduty Inc. | 0.57% | 519,286 | $11.9M | No change |
| SNEX Stonex Group Inc. | 0.52% | 142,500 | $10.7M | Add +26.7% |
| EVTC Evertec Inc. | 0.46% | 285,000 | $9.5M | Reduce -11.6% |
| ONTO Onto Innovation Inc. | 0.42% | 40,000 | $8.8M | Reduce -49.4% |
| SSTI Soundthinking Inc. | 0.35% | 595,466 | $7.3M | Reduce -23.2% |
| TDUP Thredup Inc. Class A | 0.35% | 4,250,000 | $7.2M | Add +19.8% |
Portfolio Sells Q1 2024 → Q2 2024
| ALGN Align Technology Inc. | Reduce -5.9% | 8.95% | −1.72 |
| W Wayfair Inc. Class A | Reduce -23.4% | 3.56% | −1.38 |
| CSGP Costar Group Inc. | Reduce -12.4% | 4.93% | −1.12 |
| XYZ Block Inc. | Reduce -0.5% | 12.30% | −1.07 |
| MODN Model N Inc. | Sold out | 0.00% | −0.64 |
| XPEL Xpel Inc. | Reduce -6.9% | 1.16% | −0.40 |
| ONTO Onto Innovation Inc. | Reduce -49.4% | 0.42% | −0.15 |
| SSTI Soundthinking Inc. | Reduce -23.2% | 0.35% | −0.14 |
| HCAT Health Catalyst Inc. | Sold out | 0.00% | −0.13 |
| DESP Despegar.com Corp. | Reduce -32.5% | 0.75% | −0.08 |
| EVTC Evertec Inc. | Reduce -11.6% | 0.46% | −0.05 |
| CMPR Cimpress PLC | Reduce -21.8% | 0.74% | −0.05 |
| TWLO Twilio Inc. Class A | Reduce -16.5% | 0.59% | −0.04 |
| ALRM Alarm.com Holdings Inc. | Reduce -3.4% | 1.75% | +0.05 |
| ESI Element Solutions Inc. | Reduce -7.2% | 0.84% | +0.15 |
| AGYS Agilysys Inc. | Reduce -11.1% | 0.80% | +0.20 |
| ETSY Etsy Inc. | Reduce -0.6% | 10.88% | +0.35 |
| PEGA Pegasystems Inc. | Reduce -2.3% | 15.86% | +1.55 |
| IBKR Interactive Brokers Gro Class A | Reduce -9.9% | 14.93% | +2.48 |
Portfolio Buys Q1 2024 → Q2 2024
| WOW Wideopenwest Inc. | Add +2.2% | 0.84% | +0.39 |
| ZUO Zuora Inc. Class A | Add +11.1% | 0.93% | +0.29 |
| WDAY Workday Inc. Class A | Add +2.7% | 12.43% | +0.25 |
| UPWK Upwork Inc. | Add +33.2% | 0.74% | +0.22 |
| SNEX Stonex Group Inc. | Add +26.7% | 0.52% | +0.20 |
| ATRO Astronics Corp. | Add +0.6% | 0.87% | +0.19 |
| FC Franklin Covey Co. | Add +1.1% | 0.85% | +0.13 |
| IRMD Iradimed Corp. | Add +1.6% | 0.60% | +0.11 |
| TDUP Thredup Inc. Class A | Add +19.8% | 0.35% | +0.07 |
| VEEV Veeva Systems Inc. Class A | Add +7.5% | 1.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 24 | $1.1B | PEGA, XYZ, WDAY, IBKR, CSGP |
| Q2 2025 | 22 | $1.0B | PEGA, IBKR, XYZ, WDAY, CSGP |
| Q1 2025 | 21 | $851.9M | IBKR, PEGA, WDAY, XYZ, CSGP |
| Q4 2024 | 11 | $1.1B | PEGA, XYZ, IBKR, WDAY, ALGN |
| Q3 2024 | 22 | $1.1B | XYZ, PEGA, WDAY, IBKR, ALGN |
| Q2 2024 | 29 | $2.1B | PEGA, IBKR, WDAY, XYZ, ETSY |
| Q1 2024 | 31 | $2.5B | PEGA, XYZ, IBKR, WDAY, ALGN |