13F-HR 1 bcm13f-hr20101231.txt 2010-12-31 BCM 13F-HR FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F-HR Form 13F-HR COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2010 Check here if Amendment: | |; Amendment Number: This Amendment (Check only one): | | is a restatement. | | adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Bares Capital Management, Inc. Address: 221 W 6th Street, Suite 1225 Austin, TX 78701 Form 13F File Number: The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Brian T Bares Title: President Phone: 512-542-1083 Signature, Place, and Date of Signing: /s/Brian T Bares Brian T Bares Austin, Texas February 11, 2011 Report Type (Check one only): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 64 Form 13F Information Table Value Total: $345,316 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file nember(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------- ----------------- -------- --------------------------- ------ ------------------- INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) MARKET SHARED VALUE SOLE SHARED OTHER SOLE SHARED NONE SECURITY DESCRIPTION CLASS CUSIP SHARES ($000) (A) (B) (C) MGR (A) (B) (C) Advisory Board Co COM 762W107 95707 4559 X 95707 0 0 Alaska Communications Systems COM 01167P101 40700 452 X 40700 0 0 AltiGen Communications Inc COM 21489109 267600 174 X 267600 0 0 American Dental Partners COM 25353103 907120 12255 X 907120 0 0 American Express Company COM 25816109 17079 733 X 17079 0 0 American Public Education COM 2913V103 291596 10859 X 291596 0 0 Automatic Data Processing COM 53015103 15536 719 X 15536 0 0 Berkshire Hathaway Inc CL A 84670108 5 602 X 5 0 0 Berkshire Hathaway Inc CL B 84670207 5400 433 X 5400 0 0 BIDZ.com Inc. COM 08883T200 1465198 1777 X 1465198 0 0 Brookfield Asset Management Inc COM 112585104 31617 1053 X 31617 0 0 Choice Hotels International COM 169905106 10000 383 X 10000 0 0 Colfax Corporation COM 194014106 400092 7366 X 400092 0 0 Conagra Food Inc COM 205887102 10000 226 X 10000 0 0 ConocoPhillips COM 20825C104 30000 2043 X 30000 0 0 Corporate Executive Board COM 21988R102 228736 8589 X 228736 0 0 Derma Sciences Inc COM 249827502 15000 71 X 15000 0 0 Emergent Group Inc COM 29089V203 57000 373 X 57000 0 0 Emerson Electric Co COM 291011104 11173 639 X 11173 0 0 Exelon Corp COM 30161N101 6080 253 X 6080 0 0 Female Health Company COM 314462102 957092 5446 X 957092 0 0 Greenlight Capital Re LTD CL A G4095J109 277829 7449 X 277829 0 0 Hallmark Financial Services COM 40624Q203 2392193 21769 X 2392193 0 0 HEICO Corp CL A 422806208 112303 4191 X 112303 0 0 Hospitality Properties Trust COM 44106M102 23915 551 X 23915 0 0 Interactive Intelligence Inc. COM 45839M103 2488638 65103 X 2488638 0 0 International Assets Holding Corp COM 459028106 2277023 53738 X 2277023 0 0 Interval Leisure Group COM 46113M108 275837 4452 X 275837 0 0 iShares Trust iBoxx Inv Grade CPBD CPBD 464287242 3034 329 X 3034 0 0 iShares Trust Treas Inflat US TIP B 464287176 9675 610 X 9675 0 0 Kinder Morgan Energy Partner LTD PTN 494550106 9600 674 X 9600 0 0 Leucadia National Corp. COM 527288104 12084 353 X 12084 0 0 Level 3 Communications COM 52729N100 14500 14 X 14500 0 0 Lockheed Martin Corporation COM 539830109 9394 657 X 9394 0 0 Microsoft Corp. COM 594918104 31989 893 X 31989 0 0 Morningstar, Inc. COM 617700109 103711 5505 X 103711 0 0 National Retail Properties, Inc. COM 637417106 14000 371 X 14000 0 0 Occidental Petroleum COM 674599105 12000 1177 X 12000 0 0 Omega Flex, Inc. COM 682095104 321770 5322 X 321770 0 0 Pennsylvania Real Estate Invt SH BEN IN709102107 10155 148 X 10155 0 0 Pfizer Inc. COM 717081103 10000 175 X 10000 0 0 Pizza Inn Inc COM 725848105 70502 137 X 70502 0 0 PowerShares Global Trust Nat Muni 73936T474 28967 653 X 28967 0 0 Psychemedics Corp COM 744375205 11917 98 X 11917 0 0 Reis Inc COM 75936P105 15000 105 X 15000 0 0 Sears Holdings Corp COM 812350106 15896 1172 X 15896 0 0 Simulations Plus Inc COM 829214105 30622 82 X 30622 0 0 SPDR Series Trust IN TR ETF78464A516 15235 891 X 15235 0 0 SPDR Index Shares IN SM ETF78463X871 6721 207 X 6721 0 0 Stamps.com COM 852857200 1020874 13527 X 1020874 0 0 Stratasys Inc. COM 862685104 611439 19957 X 611439 0 0 Tandy Leather Factory Inc. COM 87538X105 1647336 7775 X 1647336 0 0 The Dolan Company COM 25659P402 629165 8758 X 629165 0 0 The Middleby Corp COM 596278101 7089 598 X 7089 0 0 TravelCenters of America COM 894174101 30000 113 X 30000 0 0 Travelzoo Inc. COM 89421Q106 328217 13580 X 328217 0 0 Utah Medical Products COM 917488108 330348 8880 X 330348 0 0 Walgreens Co COM 931422109 11752 458 X 11752 0 0 Weight Watcher's International COM 948626106 141044 5288 X 141044 0 0 Western Union Co COM 959802109 34413 639 X 34413 0 0 Winmark Corp COM 974250102 846500 28476 X 846500 0 0 Winthrop Realty Trust, Inc. COM 976391102 11891 152 X 11891 0 0 XCEL Energy Inc. COM 98389B100 26000 612 X 26000 0 0 Zimmer Holdings, Inc. COM 98956P102 12555 674 X 12555 0 0