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

According to the SEC 13F filed on Feb 14, 2025, the Bares Capital Management portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2024. 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	-