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Bares Capital Management, Inc.
Bares Capital Management, Inc. is an independent investment adviser headquartered in Austin, Texas. Founded in 2000 by Brian Bares, the firm specializes in providing asset management services primarily to institutional clients and high-net-worth individuals. The team is small, with around 9 employees, including investment professionals. Their focus is on long-term investments in publicly traded companies, emphasizing fundamental research and active portfolio management. Bares Capital is known for its concentrated approach and value-driven investment philosophy.
Investment Strategy
Bares Capital Management pursues a long-term, fundamental approach to equity investing, focusing on a concentrated portfolio of high-quality companies. The firm relies on deep, proprietary research to identify businesses with durable competitive advantages, strong management teams, and the potential for significant capital appreciation. Investment decisions are driven by valuation discipline with an emphasis on risk management, resulting in a focused portfolio that eschews market speculation in favor of steady compounding over time. The firm applies a value-oriented philosophy and seeks to partner with clients for long-term wealth accumulation.
Latest 13F Filing Activity
Bares Capital Management, Inc. filed their most recent 13F report on Jun 30, 2025 disclosing 22 equity positions with a total 13F market value of $1B. The fund increased holdings in Pegasystems Inc., Medpace Holdings, Inc., Interactive Brokers Group Inc. among other positions. Bares Capital Management, Inc. reduced exposure to Workday Inc., Kadant Inc., Danaher Corporation among others.
Top Holdings
Equity Positions (22)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PEGA | Pegasystems Inc | 18.62% | $191.8M | 3,542,716 | $68.05 | $54.13 | +$52.3M |
I IBKR | Interactive Brokers Group Inc | 16.20% | $166.8M | 3,011,100 | $54.33 | $55.41 | +$27.0M |
X XYZ | Block Inc | 14.17% | $146.0M | 2,148,963 | $83.25 | $67.93 | +$22.8M |
W WDAY | Workday Inc. | 12.41% | $127.9M | 532,835 | $149.93 | $240.00 | -$5.4M |
C CSGP | CoStar Group | 9.48% | $97.7M | 1,214,652 | $50.89 | $80.40 | +$7.9M |
Industry Allocation
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