Brian Bares - Bares Capital Management 13F Activity & Position Changes (Q4 2024)

As of Dec 31, 2024, the Bares Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 14, 2025. 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 Q4 2024, the filing reported:

New Buys - None reported

Increases - Align Technology, Inc., CoStar Group, Inc., Veeva Systems Inc.

Reductions - Etsy, Inc., Interactive Brokers Group, Inc., Pegasystems Inc., Block, Inc., Twilio Inc., and 2 more

Complete Exits - Alarm.com Holdings, Inc., Astronics Corporation, Element Solutions Inc., Franklin Covey Company, Cimpress, and 6 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2024	ALGN Align Technology, Inc.	Align Technology, Inc.	Buy	+7,237	+1.4%	$106.99M	513,125
Q4 2024	ALRM Alarm.com Holdings, Inc.	Alarm.com Holdings, Inc.	Sell - Position Exit	-12,998	-100.0%	$0.00	-
Q4 2024	ATRO Astronics Corporation	Astronics Corporation	Sell - Position Exit	-24,851	-100.0%	$0.00	-
Q4 2024	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Buy	+738	+0.1%	$46.48M	649,205
Q4 2024	ESI Element Solutions Inc.	Element Solutions Inc.	Sell - Position Exit	-16,389	-100.0%	$0.00	-
Q4 2024	ETSY Etsy, Inc.	Etsy, Inc.	Sell	-30,474	-1.6%	$100.05M	1,891,645
Q4 2024	FC Franklin Covey Company	Franklin Covey Company	Sell - Position Exit	-12,061	-100.0%	$0.00	-
Q4 2024	G2143T103 Cimpress	Cimpress	Sell - Position Exit	-5,031	-100.0%	$0.00	-
Q4 2024	IBKR Interactive Brokers Group, Inc.	Interactive Brokers Group, Inc.	Sell	-164,877	-14.8%	$168.13M	951,647
Q4 2024	IIIV i3 Verticals, Inc.	i3 Verticals, Inc.	Sell - Position Exit	-15,655	-100.0%	$0.00	-
Q4 2024	PD PagerDuty, Inc.	PagerDuty, Inc.	Sell - Position Exit	-13,709	-100.0%	$0.00	-
Q4 2024	PEGA Pegasystems Inc.	Pegasystems Inc.	Sell	-290,403	-10.9%	$220.41M	2,364,949
Q4 2024	PZZA Papa John's International, Inc.	Papa John's International, Inc.	Sell - Position Exit	-6,747	-100.0%	$0.00	-
Q4 2024	SQ Block, Inc.	Block, Inc.	Sell	-364,618	-12.3%	$220.01M	2,588,616
Q4 2024	TFIN Triumph Financial, Inc.	Triumph Financial, Inc.	Sell - Position Exit	-4,759	-100.0%	$0.00	-
Q4 2024	TWLO Twilio Inc.	Twilio Inc.	Sell	-55,090	-25.7%	$17.19M	159,045
Q4 2024	VEEV Veeva Systems Inc.	Veeva Systems Inc.	Buy	+8,400	+6.9%	$27.38M	130,230
Q4 2024	W Wayfair Inc.	Wayfair Inc.	Sell	-15,173	-1.5%	$42.92M	968,349
Q4 2024	WDAY Workday, Inc.	Workday, Inc.	Sell	-28,547	-4.4%	$160.90M	623,585
Q4 2024	WOW WideOpenWest, Inc.	WideOpenWest, Inc.	Sell - Position Exit	-80,729	-100.0%	$0.00	-
Q4 2024	XPEL XPEL, Inc.	XPEL, Inc.	Sell - Position Exit	-15,070	-100.0%	$0.00	-