Bares Capital Management Q3 vs. Q4 2022: Insights on Fund Holdings Changes

Investors who keep a close eye on the stock market understand the importance of following 13F filings. These quarterly presentations offer insight into the holdings of hedge funds and investment management firms like Bares Capital Management, Inc. The Q3 vs. Q4 2022 13F Holdings Comparison for Bares Capital Management is out, and there are some significant changes worth noting.

Block Inc, Workday, and Interactive Brokers Group Inc, are the top three holdings in the portfolio, with Block Inc maintaining the same number of shares held in Q3 and Q4. Workday saw a slight decrease in shares held, while Interactive Brokers Group Inc saw a more substantial decline of 2.7%.

Align Technology Inc., Pegasystems Inc, and Etsy Inc, all saw an increase in the number of shares held, ranging from 4.3% to 15%. CoStar Group also caught the eye of Bares Capital Management, with an increase in value of 6.2%.

A standout in the comparison is Planet Fitness Inc, which saw a massive 40% increase in value quarter-over-quarter, thanks to an increase in shares held. Conversely, Alteryx Inc saw a significant decrease in shares held, resulting in a 22% drop in value of the stock.

Redfin Corp had the biggest decline in the comparison, with Bares Capital Management selling their entire position, resulting in a decrease in value of 27.4%. This decision follows a downward trend of Redfin stock throughout 2021.

On the smaller end of the holdings spectrum, ThredUp Inc, Health Catalyst Inc, and StoneX Group Inc, saw increases of 19%, 9.6%, and 41.8% respectively, while Inmode Ltd saw a modest 22.6% increase.

Bares Capital Management also made the decision to reduce holdings in Alarm.com Holdings, Inc, and Farfetch Ltd, resulting in a decline in value of 25.8% and 51.7%, respectively.

While there were some interesting changes in holdings, it's important to note that overall, the portfolio saw an increase in value of 7.11%. This increase suggests that the fund's investment strategy, which focuses on finding high-quality, undervalued firms, is working well.

As always, it's essential to keep in mind that information concerning holdings is just one factor to consider when analyzing an investment portfolio. In any case, it's worth keeping an eye on Bares Capital Management, as their quarterly 13F filings can offer valuable insights into market trends and investment strategies.