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
Q3 2023Sep 30, 2023	TWLO Twilio Inc.	Twilio Inc.	Buy	+1,095+0.3%	$19.52M	333,472
Q3 2023Sep 30, 2023	ALRM Alarm.com Holdings, Inc.	Alarm.com Holdings, Inc.	Sell	-231-0.0%	$40.83M	667,819
Q3 2023Sep 30, 2023	SNEX StoneX Group Inc.	StoneX Group Inc.	Sell	-1,000-0.6%	$15.41M	159,000
Q3 2023Sep 30, 2023	XPEL XPEL, Inc.	XPEL, Inc.	Sell	-1,077-0.2%	$49.56M	642,771
Q3 2023Sep 30, 2023	IBKR Interactive Brokers Group, Inc.	Interactive Brokers Group, Inc.	Sell	-4,904-0.2%	$222.15M	2,566,395
Q3 2023Sep 30, 2023	W Wayfair Inc.	Wayfair Inc.	Sell	-7,949-0.4%	$136.94M	2,260,786
Q3 2023Sep 30, 2023	ATRO Astronics Corporation	Astronics Corporation	Sell	-8,500-1.2%	$11.45M	722,118
Q3 2023Sep 30, 2023	GWRE Guidewire Software, Inc.	Guidewire Software, Inc.	Sell	-24,000-10.6%	$18.24M	202,664
Q3 2023Sep 30, 2023	ONTO Onto Innovation Inc.	Onto Innovation Inc.	Sell	-25,000-18.2%	$14.28M	112,000
Q3 2023Sep 30, 2023	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Sell	-27,522-1.3%	$158.79M	2,065,105
Q3 2023Sep 30, 2023	PEGA Pegasystems Inc.	Pegasystems Inc.	Sell	-36,240-0.6%	$250.53M	5,771,353
Q3 2023Sep 30, 2023	PZZA Papa John's International, Inc.	Papa John's International, Inc.	Sell	-50,000-43.1%	$4.50M	66,000
Q3 2023Sep 30, 2023	HCAT Health Catalyst, Inc	Health Catalyst, Inc	Sell	-80,000-10.3%	$7.08M	700,000
Q3 2023Sep 30, 2023	ALGN Align Technology, Inc.	Align Technology, Inc.	Sell	-87,725-15.9%	$141.34M	462,911
Q3 2023Sep 30, 2023	ZUO Zuora, Inc.	Zuora, Inc.	Sell	-100,000-11.1%	$6.59M	800,000
Q3 2023Sep 30, 2023	ESI Element Solutions Inc.	Element Solutions Inc.	Sell	-112,535-13.9%	$13.63M	695,129
Q3 2023Sep 30, 2023	WDAY Workday, Inc.	Workday, Inc.	Sell	-468,585-22.2%	$352.26M	1,639,542
Q3 2023Sep 30, 2023	OLO Olo Inc.	Olo Inc.	Sell	-518,436-23.9%	$10.03M	1,654,863
Q3 2023Sep 30, 2023	RDFN Redfin Corporation	Redfin Corporation	Sell	-716,723-4.1%	$116.91M	16,606,557
Q3 2023Sep 30, 2023	PLNT Planet Fitness, Inc.	Planet Fitness, Inc.	Sell - Position Exit	-1,998,888-100.0%	$0.00	-
Q2 2023Jun 30, 2023	UPWK Upwork Inc.	Upwork Inc.	Buy	+660,000+82.5%	$13.64M	1,460,000
Q2 2023Jun 30, 2023	ETSY Etsy, Inc.	Etsy, Inc.	Buy	+558,757+27.9%	$216.86M	2,563,060
Q2 2023Jun 30, 2023	WOW WideOpenWest, Inc.	WideOpenWest, Inc.	Buy	+507,520+35.5%	$16.35M	1,937,520
Q2 2023Jun 30, 2023	PEGA Pegasystems Inc.	Pegasystems Inc.	Buy	+457,888+8.6%	$286.31M	5,807,593
Q2 2023Jun 30, 2023	SSTI SoundThinking, Inc.	SoundThinking, Inc.	Buy	+346,298+140.4%	$12.96M	592,987
Q2 2023Jun 30, 2023	HCAT Health Catalyst, Inc	Health Catalyst, Inc	Buy	+330,000+73.3%	$9.75M	780,000
Q2 2023Jun 30, 2023	SQ Block, Inc.	Block, Inc.	Buy	+325,646+8.0%	$292.11M	4,388,049
Q2 2023Jun 30, 2023	FC Franklin Covey Company	Franklin Covey Company	Buy	+133,401+48.9%	$17.75M	406,461
Q2 2023Jun 30, 2023	TFIN Triumph Financial, Inc.	Triumph Financial, Inc.	Buy - Position Entry	+79,166	$4.81M	79,166
Q2 2023Jun 30, 2023	PLNT Planet Fitness, Inc.	Planet Fitness, Inc.	Buy	+72,031+3.7%	$134.81M	1,998,888

Page 7 of 35 • 1031 total trades

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