Brian Bares - Bares Capital Management 13F Activity & Position Changes (Q1 2015)
According to the SEC 13F filed on Nov 14, 2025, the Bares Capital Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2015. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q1 2015, the filing reported:
New Buys - Dorman Products, Inc.
Increases - None reported
Reductions - America's Car-Mart, Inc., Heico Corporation
Complete Exits - Automatic Data Processing, Inc., American Express Company, Brookfield Asset Management Ltd., Bristol-Myers Squibb Company, Berkshire Hathaway Inc., and 29 more
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Type | Change Qty |
|---|---|---|---|
|
Q1 2015
|
ADP
Automatic Data Processing, Inc.
|
Sell - Position Exit |
-9,738
|
|
Q1 2015
|
AXP
American Express Company
|
Sell - Position Exit |
-9,032
|
|
Q1 2015
|
BAM
Brookfield Asset Management Ltd.
|
Sell - Position Exit |
-54,659
|
|
Q1 2015
|
BMY
Bristol-Myers Squibb Company
|
Sell - Position Exit |
-3,834
|
|
Q1 2015
|
BRK-A
Berkshire Hathaway Inc.
|
Sell - Position Exit |
-9
|
|
Q1 2015
|
BRK-B
Berkshire Hathaway Inc. New
|
Sell - Position Exit |
-14,533
|
|
Q1 2015
|
BWX
SPDR Bloomberg International Tr
|
Sell - Position Exit |
-12,639
|
|
Q1 2015
|
CAG
ConAgra Brands, Inc.
|
Sell - Position Exit |
-10,000
|
|
Q1 2015
|
CHH
Choice Hotels International, In
|
Sell - Position Exit |
-10,000
|
|
Q1 2015
|
COP
ConocoPhillips
|
Sell - Position Exit |
-30,000
|
|
Q1 2015
|
CRMT
America's Car-Mart, Inc.
|
Sell |
-48,711
|
|
Q1 2015
|
CSWC
Capital Southwest Corporation
|
Sell - Position Exit |
-36,282
|
|
Q1 2015
|
DORM
Dorman Products, Inc.
|
Buy - Position Entry |
+378,831
|
|
Q1 2015
|
EMR
Emerson Electric Company
|
Sell - Position Exit |
-7,705
|
|
Q1 2015
|
EXC
Exelon Corporation
|
Sell - Position Exit |
-5,725
|
|
Q1 2015
|
EXPD
Expeditors International of Was
|
Sell - Position Exit |
-35,146
|
|
Q1 2015
|
G9618E107
White Mountains
|
Sell - Position Exit |
-2,503
|
|
Q1 2015
|
HEI-A
Heico Corporation
|
Sell |
-52,273
|
|
Q1 2015
|
KMI
Kinder Morgan, Inc.
|
Sell - Position Exit |
-46,378
|
|
Q1 2015
|
MIDD
The Middleby Corporation
|
Sell - Position Exit |
-586,120
|
|
Q1 2015
|
MORN
Morningstar, Inc.
|
Sell - Position Exit |
-16,695
|
|
Q1 2015
|
MRK
Merck & Company, Inc.
|
Sell - Position Exit |
-3,794
|
|
Q1 2015
|
MSFT
Microsoft Corporation
|
Sell - Position Exit |
-10,440
|
|
Q1 2015
|
NNN
NNN REIT, Inc.
|
Sell - Position Exit |
-14,000
|
|
Q1 2015
|
OXY
Occidental Petroleum Corporatio
|
Sell - Position Exit |
-12,000
|
|
Q1 2015
|
PFE
Pfizer, Inc.
|
Sell - Position Exit |
-16,579
|
|
Q1 2015
|
POST
Post Holdings, Inc.
|
Sell - Position Exit |
-44,040
|
|
Q1 2015
|
PSX
Phillips 66
|
Sell - Position Exit |
-15,000
|
|
Q1 2015
|
SPE
Special Opportunities Fund, Inc
|
Sell - Position Exit |
-124,640
|
|
Q1 2015
|
UGI
UGI Corporation
|
Sell - Position Exit |
-9,239
|
Page 1 of 2