Brian Bares - Bares Capital Management Portfolio

Name: Investment Portfolio Data
License: https://creativecommons.org/licenses/by/4.0/

Period Date		Mar 31, 2025
Filing Date		May 15, 2025
Total Stocks		21
Portfolio Value		$851.86M

Bares Capital Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q1 2024Mar 31, 2024	TDUP ThredUp Inc.	ThredUp Inc.	Buy	+362,221+11.4%	$7.10M	3,548,800
Q1 2024Mar 31, 2024	IBKR Interactive Brokers Group, Inc.	Interactive Brokers Group, Inc.	Buy	+264,543+10.4%	$313.92M	2,810,131
Q1 2024Mar 31, 2024	ALGN Align Technology, Inc.	Align Technology, Inc.	Buy	+252,220+44.4%	$268.87M	819,930
Q1 2024Mar 31, 2024	VEEV Veeva Systems Inc.	Veeva Systems Inc.	Buy - Position Entry	+108,504	$25.14M	108,504
Q1 2024Mar 31, 2024	ATRO Astronics Corporation	Astronics Corporation	Buy	+84,659+10.4%	$17.12M	899,351
Q1 2024Mar 31, 2024	SSTI SoundThinking, Inc.	SoundThinking, Inc.	Buy	+36,187+4.9%	$12.31M	775,400
Q1 2024Mar 31, 2024	FC Franklin Covey Company	Franklin Covey Company	Buy	+3,570+0.8%	$18.12M	461,661
Q1 2024Mar 31, 2024	IRMD iRadimed Corporation	iRadimed Corporation	Buy	+2,000+0.7%	$12.27M	279,000
Q1 2024Mar 31, 2024	ESI Element Solutions Inc.	Element Solutions Inc.	Sell	-1,383-0.2%	$17.27M	691,389
Q1 2024Mar 31, 2024	EVTC Evertec, Inc.	Evertec, Inc.	Sell	-17,551-5.2%	$12.87M	322,449
Q1 2024Mar 31, 2024	AGYS Agilysys, Inc.	Agilysys, Inc.	Sell	-30,000-14.3%	$15.17M	180,000
Q1 2024Mar 31, 2024	ONTO Onto Innovation Inc.	Onto Innovation Inc.	Sell	-33,000-29.5%	$14.31M	79,000
Q1 2024Mar 31, 2024	SNEX StoneX Group Inc.	StoneX Group Inc.	Sell	-52,500-31.8%	$7.90M	112,500
Q1 2024Mar 31, 2024	UPWK Upwork Inc.	Upwork Inc.	Sell	-60,000-5.3%	$13.12M	1,070,000
Q1 2024Mar 31, 2024	PD PagerDuty, Inc.	PagerDuty, Inc.	Sell	-65,684-11.2%	$11.78M	519,286
Q1 2024Mar 31, 2024	ALRM Alarm.com Holdings, Inc.	Alarm.com Holdings, Inc.	Sell	-71,223-10.7%	$43.04M	593,911
Q1 2024Mar 31, 2024	TWLO Twilio Inc.	Twilio Inc.	Sell	-170,000-39.7%	$15.82M	258,730
Q1 2024Mar 31, 2024	GWRE Guidewire Software, Inc.	Guidewire Software, Inc.	Sell - Position Exit	-184,664-100.0%	$0.00	-
Q1 2024Mar 31, 2024	ETSY Etsy, Inc.	Etsy, Inc.	Sell	-222,121-5.4%	$265.14M	3,858,217
Q1 2024Mar 31, 2024	WDAY Workday, Inc.	Workday, Inc.	Sell	-223,511-16.6%	$306.83M	1,124,956
Q1 2024Mar 31, 2024	PEGA Pegasystems Inc.	Pegasystems Inc.	Sell	-285,520-4.9%	$360.49M	5,576,826
Q1 2024Mar 31, 2024	W Wayfair Inc.	Wayfair Inc.	Sell	-388,825-17.5%	$124.63M	1,836,082
Q1 2024Mar 31, 2024	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Sell	-396,460-20.1%	$152.51M	1,578,735
Q1 2024Mar 31, 2024	SQ Block, Inc.	Block, Inc.	Sell	-501,772-11.2%	$337.09M	3,985,479
Q4 2023Dec 31, 2023	ZUO Zuora, Inc.	Zuora, Inc.	Buy	+435,000+54.4%	$11.61M	1,235,000
Q4 2023Dec 31, 2023	WOW WideOpenWest, Inc.	WideOpenWest, Inc.	Buy	+332,224+14.5%	$10.65M	2,630,434
Q4 2023Dec 31, 2023	TDUP ThredUp Inc.	ThredUp Inc.	Buy	+186,579+6.2%	$7.17M	3,186,579
Q4 2023Dec 31, 2023	ALGN Align Technology, Inc.	Align Technology, Inc.	Buy	+104,799+22.6%	$155.55M	567,710
Q4 2023Dec 31, 2023	TWLO Twilio Inc.	Twilio Inc.	Buy	+95,258+28.6%	$32.53M	428,730
Q4 2023Dec 31, 2023	ATRO Astronics Corporation	Astronics Corporation	Buy	+92,574+12.8%	$14.19M	814,692

Page 5 of 35 • 1031 total trades

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