Brian Bares
Bares Capital Management
Bares Capital Management Portfolio 13F
Bares Capital Management Holdings Activity
- Portfolio value:
- $1.03B≈ (+$178M≈)
- Previous value:
- $851.86M≈
- # of changes:
- 18
- New positions:
- 3
- Reported for:
- 30 Jun 2025 (Q2)
- Latest filing date:
- 14 Aug 2025
Bares Capital Management has disclosed a total of 18 changes to the portfolio in the (2025 Q2) SEC report(s): increased the number of shares of 5, bought 3 totally new, decreased the number of shares of 8 and completely sold out 2 position(s).
What stocks did Bares Capital Management buy in 2025 Q2?
During 2025 Q2 Bares Capital Management has bought 8 securities out of which top 5 purchases (by % change to portfolio) were (PEGA) Pegasystems Inc (added shares +76.61%), (CSGP) CoStar Group Inc (added shares +7.21%), (MEDP) Medpace Holdings Inc (added shares +319.16%), (MIDD) Middleby Corp (new buy) and (APG) Api GroupCorp (new buy).
In the 2025 Q2 report(s) the following changes have been made to the top investments: (PEGA) Pegasystems Inc (added shares +76.61%), (IBKR) Interactive Brokers Group Inc (reduced shares -10.87%), (XYZ) Block, Inc (reduced shares -5.25%), (WDAY) Workday Inc (reduced shares -6.66%) and (CSGP) CoStar Group Inc (added shares +7.21%).
18 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Api GroupCorp
|
new
|
+585
|
585
|
+0%
|
$51.05
|
-20.45%($40.61)
|
0.00%
|
2025 Q2
|
≈ 0.25 years
|
|
|
|
Ferguson Plc
|
new
|
+103
|
103
|
+0%
|
$217.75
|
+7.05%($233.09)
|
0.00%
|
2025 Q2
|
≈ 0.25 years
|
|
|
|
Middleby Corp
|
new
|
+54,625
|
54,625
|
+0.76%
|
$144.00
|
-5.98%($135.38)
|
0.76%
|
2025 Q2
|
≈ 0.25 years
|
|
|
|
Medpace Holdings Inc
|
+319.16%
|
+119,608
|
157,084
|
+3.64%
|
$313.86
|
+70.88%($536.31)
|
4.79%
|
2025 Q1
|
≈ 0.50 years
|
|
|
|
Pegasystems Inc
|
+76.61%
|
+1,536,726
|
3,542,716
|
+8.08%
|
$54.13
|
-40.74%($32.08)
|
18.62%
|
2019 Q3
|
≈ 6.00 years
|
|
|
|
Watsco Inc
|
+36.36%
|
+12
|
45
|
+0%
|
$441.62
|
-14.71%($376.64)
|
0.00%
|
2025 Q1
|
≈ 0.50 years
|
|
|
|
Brown & Brown Inc
|
+21.60%
|
+46
|
259
|
+0%
|
$110.87
|
-37.92%($68.83)
|
0.00%
|
2025 Q1
|
≈ 0.50 years
|
|
|
|
CoStar Group Inc
|
+7.21%
|
+81,650
|
1,214,652
|
+0.64%
|
$80.40
|
-62.99%($29.76)
|
9.48%
|
2016 Q2
|
≈ 9.25 years
|
|
|
|
Align Technology Inc
|
-4.70%
|
-25,262
|
512,344
|
-0.56%
|
$189.33
|
-7.19%($175.72)
|
9.42%
|
2018 Q4
|
≈ 6.75 years
|
|
|
|
Etsy, Inc
|
-5.01%
|
-75,530
|
1,433,471
|
-0.44%
|
$50.16
|
+66.67%($83.60)
|
6.98%
|
2021 Q2
|
≈ 4.25 years
|
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted.