Bares Capital Management 13F holdings, Q4 2014
Holdings as of December 31, 2014 · filings on SEC EDGAR · latest filing →
Bares Capital Management disclosed 52 US equity positions worth $829.6m in its Q4 2014 13F filing. The largest position was Colfax Corporation at 17.4% of the reported book, followed by Actuant Corporation and Interactive Intelligence Group. Against the Q3 2014 filing, it opened 3 new positions, added to 9 and reduced 12 among the top 50 holdings.
What did Bares Capital Management own in Q4 2014? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2014 |
|---|---|---|---|---|---|---|---|
| 1 | Colfax Corporation | 17.4% | $144.5m | 2,801,459 | 63% | added | |
| 2 | Actuant Corporation | 13.1% | $108.4m | 3,979,360 | 14% | added | |
| 3 | Interactive Intelligence Group | 11.7% | $97.2m | 2,028,716 | 41% | added | |
| 4 | HEI/A Heico CP CL A | 11.5% | $95.0m | 2,005,661 | 6% | added | |
| 5 | RealD Inc. | 11.2% | $93.2m | 7,900,458 | -1% | reduced | |
| 6 | US Ecology, Inc. | 7.8% | $64.8m | 1,614,656 | 19% | added | |
| 7 | America's Car-Mart Inc. | 7.8% | $64.6m | 1,210,217 | -3% | reduced | |
| 8 | MIDD The Middleby Corporation | Industrials | 7.0% | $58.1m | 586,120 | -43% | reduced |
| 9 | Platform Specialty Products Corpora | 6.9% | $57.5m | 2,478,009 | -6% | reduced | |
| 10 | Brookfield Asset Management Inc. | 0.3% | $2.7m | 54,659 | -0% | held | |
| 11 | VWO Vanguard Emerging Markets VIPER | 0.3% | $2.4m | 59,272 | 1% | added | |
| 12 | BRK/B Berkshire Hathaway Inc 'B' | 0.3% | $2.2m | 14,533 | -1% | reduced | |
| 13 | COP ConocoPhillips | Energy | 0.2% | $2.1m | 30,000 | 0% | held |
| 14 | BRK/A Berkshire Hathaway Inc 'A' | 0.2% | $2.0m | 9 | 0% | held | |
| 15 | KMI Kinder Morgan, Inc. | Energy | 0.2% | $2.0m | 46,378 | – | new |
| 16 | Special Opportunities Fund, Inc. | 0.2% | $1.9m | 124,640 | 72% | added | |
| 17 | Brookfield Property Partners | 0.2% | $1.8m | 80,708 | -1% | reduced | |
| 18 | POST Post Holdings Inc | Consumer Defensive | 0.2% | $1.8m | 44,040 | 0% | held |
| 19 | Core Laboratories NV | 0.2% | $1.7m | 14,414 | – | new | |
| 20 | White Mountains Insurance Group | 0.2% | $1.6m | 2,503 | 0% | held | |
| 21 | EXPD Expeditors International of Washing | Industrials | 0.2% | $1.6m | 35,146 | -0% | held |
| 22 | ASCMA Ascent Capital Group | 0.2% | $1.4m | 26,376 | 138% | added | |
| 23 | CSWC Capital Southwest Corporation | 0.2% | $1.4m | 36,282 | -4% | reduced | |
| 24 | Ultra Petroleum Corp. | 0.2% | $1.3m | 99,219 | 144% | added | |
| 25 | Alleghany Corp. | 0.2% | $1.3m | 2,753 | -0% | held | |
| 26 | GLRE Greenlight Capital Re, Ltd. | Financial Services | 0.1% | $1.2m | 36,650 | 0% | held |
| 27 | MORN Morningstar, Inc | Financial Services | 0.1% | $1.1m | 16,695 | 0% | held |
| 28 | PSX Phillips 66 Common Stock | Energy | 0.1% | $1.1m | 15,000 | 0% | held |
| 29 | Leucadia National Corp. | 0.1% | $992.0k | 44,240 | 0% | held | |
| 30 | ZBH Zimmer Holdings, Inc. | Healthcare | 0.1% | $970.0k | 8,551 | 0% | held |
| 31 | WY Weyehaeuser Company | Real Estate | 0.1% | $970.0k | 27,023 | -5% | reduced |
| 32 | OXY Occidental Petroleum | Energy | 0.1% | $967.0k | 12,000 | 0% | held |
| 33 | XEL XCEL Energy Inc. | Utilities | 0.1% | $934.0k | 26,000 | 0% | held |
| 34 | AXP American Express Company | Financial Services | 0.1% | $840.0k | 9,032 | 0% | held |
| 35 | ADP Automatic Data Processing, Inc | Technology | 0.1% | $812.0k | 9,738 | 0% | held |
| 36 | SPDR Lehman Intl Treasury Bond ETF | 0.1% | $699.0k | 12,639 | 0% | held | |
| 37 | VCSH Vanguard ST Corp Bond ETF | 0.1% | $672.0k | 8,443 | -1% | reduced | |
| 38 | SPDR S&P Middle East & Africa ETF | 0.1% | $645.0k | 9,634 | -1% | reduced | |
| 39 | CHH Choice Hotels International Inc. | Consumer Cyclical | 0.1% | $560.0k | 10,000 | 0% | held |
| 40 | NNN National Retail Properties, Inc. | Real Estate | 0.1% | $551.0k | 14,000 | 0% | held |
| 41 | PFE Pfizer Inc. | Healthcare | 0.1% | $516.0k | 16,579 | 0% | held |
| 42 | MSFT Microsoft Corp | Technology | 0.1% | $485.0k | 10,440 | 0% | held |
| 43 | Vanguard FTSE All-Wld ex-US SmCp Id | 0.1% | $483.0k | 5,067 | 0% | held | |
| 44 | EMR Emerson Electric Co. | Industrials | 0.1% | $476.0k | 7,705 | 0% | held |
| 45 | VCA Inc. | 0.0% | $411.0k | 8,434 | -14% | reduced | |
| 46 | CAG Conagra Food Inc | Consumer Defensive | 0.0% | $363.0k | 10,000 | 0% | held |
| 47 | UGI UGI Corp. | Utilities | 0.0% | $351.0k | 9,239 | -0% | held |
| 48 | BMY Bristol_Myers Squibb Company | Healthcare | 0.0% | $226.0k | 3,834 | – | new |
| 49 | Vanguard MBS ETF | 0.0% | $221.0k | 4,167 | -1% | reduced | |
| 50 | MRK Merck & Company, Inc | Healthcare | 0.0% | $215.0k | 3,794 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.