Brian Bares - Bares Capital Management Portfolio

Name: Investment Portfolio Data
License: https://creativecommons.org/licenses/by/4.0/

Period Date		Mar 31, 2025
Filing Date		May 15, 2025
Total Stocks		21
Portfolio Value		$851.86M

Bares Capital Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q4 2022Dec 31, 2022	SQ Block, Inc.	Block, Inc.	Buy	+344+0.0%	$415.17M	6,606,774
Q4 2022Dec 31, 2022	WDAY Workday, Inc.	Workday, Inc.	Sell	-8,944-0.4%	$397.96M	2,378,311
Q4 2022Dec 31, 2022	ALRM Alarm.com Holdings, Inc.	Alarm.com Holdings, Inc.	Sell	-17,799-2.7%	$31.71M	640,858
Q4 2022Dec 31, 2022	GWRE Guidewire Software, Inc.	Guidewire Software, Inc.	Sell	-24,592-7.8%	$18.18M	290,664
Q4 2022Dec 31, 2022	ONTO Onto Innovation Inc.	Onto Innovation Inc.	Sell	-25,000-11.0%	$13.80M	202,700
Q4 2022Dec 31, 2022	PZZA Papa John's International, Inc.	Papa John's International, Inc.	Sell	-50,000-24.8%	$12.48M	151,600
Q4 2022Dec 31, 2022	ETSY Etsy, Inc.	Etsy, Inc.	Sell	-60,190-3.9%	$177.64M	1,483,043
Q4 2022Dec 31, 2022	IBKR Interactive Brokers Group, Inc.	Interactive Brokers Group, Inc.	Sell	-86,234-2.7%	$221.74M	3,064,820
Q4 2022Dec 31, 2022	XPEL XPEL, Inc.	XPEL, Inc.	Sell	-94,774-12.4%	$40.11M	667,778
Q4 2022Dec 31, 2022	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Sell	-96,855-4.3%	$166.80M	2,158,448
Q4 2022Dec 31, 2022	AGYS Agilysys, Inc.	Agilysys, Inc.	Sell	-100,000-16.5%	$39.93M	504,500
Q4 2022Dec 31, 2022	ESI Element Solutions Inc.	Element Solutions Inc.	Sell	-132,518-12.2%	$17.35M	953,988
Q4 2022Dec 31, 2022	ATRO Astronics Corporation	Astronics Corporation	Sell	-148,096-8.8%	$15.84M	1,538,107
Q4 2022Dec 31, 2022	ZUO Zuora, Inc.	Zuora, Inc.	Sell	-260,970-13.4%	$10.70M	1,682,272
Q4 2022Dec 31, 2022	OLO Olo Inc.	Olo Inc.	Sell	-275,559-10.4%	$14.83M	2,373,303
Q4 2022Dec 31, 2022	W Wayfair Inc.	Wayfair Inc.	Sell	-400,000-14.0%	$80.80M	2,456,699
Q4 2022Dec 31, 2022	PD PagerDuty, Inc.	PagerDuty, Inc.	Sell	-476,643-37.5%	$21.06M	792,982
Q3 2022Sep 30, 2022	TDUP ThredUp Inc.	ThredUp Inc.	Buy	+1,000,000+66.2%	$4.62K	2,510,000
Q3 2022Sep 30, 2022	ETSY Etsy, Inc.	Etsy, Inc.	Buy	+716,680+86.7%	$154.52K	1,543,233
Q3 2022Sep 30, 2022	PLNT Planet Fitness, Inc.	Planet Fitness, Inc.	Buy	+575,627+40.0%	$116.14K	2,014,197
Q3 2022Sep 30, 2022	OLO Olo Inc.	Olo Inc.	Buy	+537,650+25.5%	$20.93K	2,648,862
Q3 2022Sep 30, 2022	UPWK Upwork Inc.	Upwork Inc.	Buy	+369,200+282.3%	$6.81K	500,000
Q3 2022Sep 30, 2022	ALGN Align Technology, Inc.	Align Technology, Inc.	Buy	+223,091+32.3%	$189.16K	913,324
Q3 2022Sep 30, 2022	PEGA Pegasystems Inc.	Pegasystems Inc.	Buy	+201,420+3.8%	$176.29K	5,485,234
Q3 2022Sep 30, 2022	HCAT Health Catalyst, Inc	Health Catalyst, Inc	Buy	+200,000+79.2%	$4.39K	452,400
Q3 2022Sep 30, 2022	IRMD iRadimed Corporation	iRadimed Corporation	Buy	+94,762+73.3%	$6.73K	224,002
Q3 2022Sep 30, 2022	TWLO Twilio Inc.	Twilio Inc.	Buy	+76,055+25.8%	$25.68K	371,377
Q3 2022Sep 30, 2022	SNEX StoneX Group Inc.	StoneX Group Inc.	Buy - Position Entry	+40,000	$3.32K	40,000
Q3 2022Sep 30, 2022	GWRE Guidewire Software, Inc.	Guidewire Software, Inc.	Buy	+39,541+14.3%	$19.41K	315,256
Q3 2022Sep 30, 2022	ONTO Onto Innovation Inc.	Onto Innovation Inc.	Buy	+25,000+12.3%	$14.58K	227,700

Page 10 of 35 • 1031 total trades

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