Brian Bares - Bares Capital Management Portfolio Holdings (Jun 30, 2025)

As of Jun 30, 2025, the Bares Capital Management portfolio holdings is valued at approximately $1.03B, featuring 22 publicly traded holdings. This in-depth profile highlights the top investments led by Pegasystems Inc (PEGA), Interactive Brokers Group Inc (IBKR), Block Inc (SQ), Workday Inc. (WDAY), CoStar Group (CSGP), and others based on the company's latest SEC filings reported on Aug 14, 2025. Explore insights into portfolio composition, sector allocation, and recent trade activity.

Bares Capital Management’s stock portfolio spans 22 holdings across 6 different sectors, with a total market value of $1.03B. The Technology sector represents the largest allocation, while the top holdings account for nearly 71% of the total portfolio value. Pegasystems Inc remains single largest position at 18.6% of all equity investments.

Balances

Trends by sector

Investment Adjustments from Previous Filing

Bares Capital Management Holdings

Symbol	Company	Portfolio %	Price	Quantity	Change Qty	Change Value	% Change	Total Value
PEGA Pegasystems Inc	Pegasystems Inc	18.62%	$54.13	3,542,716	1,536,726	$83,182,978	76.61%	$191,767,217
IBKR Interactive Brokers Group Inc	Interactive Brokers Group Inc	16.20%	$55.41	3,011,100	2,166,563	$120,049,256	256.54%	$166,845,051
SQ Block Inc	Block Inc	14.17%	$67.93	2,148,963	-119,142	-$8,093,316	-5.25%	$145,979,057
WDAY Workday Inc.	Workday Inc.	12.41%	$240.00	532,835	-37,998	-$9,119,520	-6.66%	$127,880,400
CSGP CoStar Group	CoStar Group	9.48%	$80.40	1,214,652	81,650	$6,564,660	7.21%	$97,658,021
ALGN Align Technology Inc.	Align Technology Inc.	9.42%	$189.33	512,344	-25,262	-$4,782,854	-4.70%	$97,002,090
ETSY Etsy Inc	Etsy Inc	6.98%	$50.16	1,433,471	-75,530	-$3,788,585	-5.01%	$71,902,905
MEDP Medpace Holdings, Inc.	Medpace Holdings, Inc.	4.79%	$313.86	157,084	119,608	$37,540,167	319.16%	$49,302,384
W Wayfair Inc	Wayfair Inc	3.65%	$51.14	736,012	-59,049	-$3,019,766	-7.43%	$37,639,654
VEEV Veeva Systems Inc.	Veeva Systems Inc.	2.61%	$287.98	93,361	-11,000	-$3,167,780	-10.54%	$26,886,101
SNEX StoneX Group Inc	StoneX Group Inc	0.88%	$91.14	99,902	-10,000	-$911,400	-9.10%	$9,105,068
MIDD Middleby Corp	Middleby Corp	0.76%	$144.00	54,625	-183,395	-$26,408,880	-77.05%	$7,866,000
APH Amphenol Corporation Class A	Amphenol Corporation Class A	0.00%	$98.75	353	-	-	-	$34,859
HEI-A HEICO Corporation Class A	HEICO Corporation Class A	0.00%	$258.75	122	-	-	-	$31,568
APG APi Group Corporation	APi Group Corporation	0.00%	$51.05	585	585	$29,864	100.00%	$29,864
BRO Brown & Brown Inc	Brown & Brown Inc	0.00%	$110.87	259	46	$5,100	21.60%	$28,715
AME AMETEK Inc	AMETEK Inc	0.00%	$180.96	152	-	-	-	$27,506
FERG Ferguson Enterprises Inc.	Ferguson Enterprises Inc.	0.00%	$217.75	103	103	$22,428	100.00%	$22,428
WSO Watsco Inc	Watsco Inc	0.00%	$441.62	45	12	$5,299	36.36%	$19,873
VRSK Verisk Analytics Inc.	Verisk Analytics Inc.	0.00%	$311.50	58	-	-	-	$18,067
MCO Moody`s Corporation	Moody`s Corporation	0.00%	$501.59	34	-	-	-	$17,054
TYL Tyler Technologies, Inc.	Tyler Technologies, Inc.	0.00%	$592.86	28	-	-	-	$16,600