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Bares Capital Management, Inc.

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13F filer, CIK 1340807, AUSTIN, TX

Bares Capital Management, Inc. reported $1,030,080,482 across 22 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 98.33% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001340807-25-000005

Period
2025-06-30
Reported value
$1.03B
Holdings
22
Top 10 weight
98.33%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IBKRadded+2,166,563$120M
PEGAadded+1,536,726$83.2M
MEDPadded+119,608$37.5M
MIDDnew+54,625$7.87M
CSGPadded+81,650$6.56M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
WDAYreduced-37,998-$9.12M
XYZreduced-119,142-$8.09M
ALGNreduced-25,262-$4.78M
ETSYreduced-75,530-$3.79M
VEEVreduced-11,000-$3.17M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001340807-25-000005, largest first. % of portfolio is the value over $1,030,080,482, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PEGAPEGASYSTEMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 5,862,346 shares; 2024Q1: 5,576,826 shares; 2024Q2: 5,447,866 shares; 2024Q3: 2,655,352 shares; 2024Q4: 2,364,949 shares; 2025Q1: 2,005,990 shares; 2025Q2: 3,542,716 shares 3,542,716$192M18.62%+1,536,726Timeline
IBKRINTERACTIVE BROKERS GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 2,545,588 shares; 2024Q1: 2,810,131 shares; 2024Q2: 2,532,665 shares; 2024Q3: 1,116,524 shares; 2024Q4: 951,647 shares; 2025Q1: 844,537 shares; 2025Q2: 3,011,100 shares 3,011,100$167M16.2%+2,166,563Timeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 4,487,251 shares; 2024Q1: 3,985,479 shares; 2024Q2: 3,966,279 shares; 2024Q3: 2,953,234 shares; 2024Q4: 2,588,616 shares; 2025Q1: 2,268,105 shares; 2025Q2: 2,148,963 shares 2,148,963$146M14.17%-119,142Timeline
WDAYWORKDAY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 1,348,467 shares; 2024Q1: 1,124,956 shares; 2024Q2: 1,155,675 shares; 2024Q3: 652,132 shares; 2024Q4: 623,585 shares; 2025Q1: 570,833 shares; 2025Q2: 532,835 shares 532,835$128M12.41%-37,998Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 1,975,195 shares; 2024Q1: 1,578,735 shares; 2024Q2: 1,382,835 shares; 2024Q3: 648,467 shares; 2024Q4: 649,205 shares; 2025Q1: 1,133,002 shares; 2025Q2: 1,214,652 shares 1,214,652$97.7M9.48%+81,650Timeline
ALGNALIGN TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 567,710 shares; 2024Q1: 819,930 shares; 2024Q2: 771,193 shares; 2024Q3: 505,888 shares; 2024Q4: 513,125 shares; 2025Q1: 537,606 shares; 2025Q2: 512,344 shares 512,344$97M9.42%-25,262Timeline
ETSYETSY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 4,080,338 shares; 2024Q1: 3,858,217 shares; 2024Q2: 3,833,881 shares; 2024Q3: 1,922,119 shares; 2024Q4: 1,891,645 shares; 2025Q1: 1,509,001 shares; 2025Q2: 1,433,471 shares 1,433,471$71.9M6.98%-75,530Timeline
MEDPMEDPACE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 37,476 shares; 2025Q2: 157,084 shares 157,084$49.3M4.79%+119,608Timeline
WWAYFAIR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 2,224,907 shares; 2024Q1: 1,836,082 shares; 2024Q2: 1,405,582 shares; 2024Q3: 983,522 shares; 2024Q4: 968,349 shares; 2025Q1: 795,061 shares; 2025Q2: 736,012 shares 736,012$37.6M3.65%-59,049Timeline
VEEVVEEVA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 108,504 shares; 2024Q2: 116,599 shares; 2024Q3: 121,830 shares; 2024Q4: 130,230 shares; 2025Q1: 104,361 shares; 2025Q2: 93,361 shares 93,361$26.9M2.61%-11,000Timeline
SNEXSTONEX GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: 165,000 shares; 2024Q1: 112,500 shares; 2024Q2: 142,500 shares; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 109,902 shares; 2025Q2: 99,902 shares 99,902$9.11M0.88%-10,000Timeline
MIDDMIDDLEBY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 54,625 shares 54,625$7.87M0.76%newTimeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 353 shares; 2025Q2: 353 shares 353$34.9K<0.01%0Timeline
HEI-AHEICO CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 122 shares; 2025Q2: 122 shares 122$31.6K<0.01%0Timeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 585 shares 585$29.9K<0.01%newTimeline
BROBROWN & BROWN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 213 shares; 2025Q2: 259 shares 259$28.7K<0.01%+46Timeline
AMEAMETEK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 152 shares; 2025Q2: 152 shares 152$27.5K<0.01%0Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 103 shares 103$22.4K<0.01%newTimeline
WSOWATSCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 33 shares; 2025Q2: 45 shares 45$19.9K<0.01%+12Timeline
VRSKVERISK ANALYTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 58 shares; 2025Q2: 58 shares 58$18.1K<0.01%0Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 34 shares; 2025Q2: 34 shares 34$17.1K<0.01%0Timeline
TYLTYLER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 28 shares; 2025Q2: 28 shares 28$16.6K<0.01%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
KAIKADANT INC60$20.2Kshares
DHRDANAHER CORP DEL68$13.9Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001340807-25-000005 base2025-08-14acceptance time not in the bulk data set