13F-HR 1 bcm13f-hr20120930.txt 2012-09-31 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: September 30, 2012 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: 12600 Hill Country Blvd, Suite R-230 Austin, TX 78738 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 November 12, 2012 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: 73 Form 13F Information Table Value Total: $451,821 (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 115855 5541 X 115855 0 0 Alleghany Corp COM 17175100 1598 551 X 1598 0 0 American Express Company COM 25816109 9107 518 X 9107 0 0 American Public Education COM 2913V103 738300 26896 X 738300 0 0 American Science & Engin COM 29429107 149872 9833 X 149872 0 0 Ascent Capital Group CL A 43632108 5221 282 X 5221 0 0 Automatic Data Processing COM 53015103 9744 572 X 9744 0 0 Berkshire Hathaway Inc CL A 84670108 9 1194 X 9 0 0 Berkshire Hathaway Inc CL B 84670207 18283 1613 X 18283 0 0 Brookfield Asset Management Inc COM 112585104 42256 1458 X 42256 0 0 Capital Southwest Corp COM 140501107 5453 610 X 5453 0 0 Central European Distribution COM 153435102 10300 29 X 10300 0 0 Cherokee Inc COM 16444H102 101747 1481 X 101747 0 0 Choice Hotels International COM 169905106 10000 320 X 10000 0 0 Colfax Corporation COM 194014106 862626 31632 X 862626 0 0 Conagra Food Inc COM 205887102 10000 276 X 10000 0 0 ConocoPhillips COM 20825C104 30000 1715 X 30000 0 0 Contango Oil & Gas Co. COM 21075N204 10621 522 X 10621 0 0 Corporate Executive Board COM 21988R102 317490 17027 X 317490 0 0 Ebix COM 278715206 17629 416 X 17629 0 0 Emerson Electric Co COM 291011104 7711 372 X 7711 0 0 Exelon Corp COM 30161N101 5738 204 X 5738 0 0 Expeditors International COM 302130109 8122 295 X 8122 0 0 Female Health Company COM 314462102 4125298 29496 X 4125298 0 0 Greenlight Capital Re LTD CL A G4095J109 26165 648 X 26165 0 0 Guggenheim Canada Engergy-Claymore ETF CA ENER 18383Q606 23556 397 X 23556 0 0 Hallmark Financial Services COM 40624Q203 1923486 15660 X 1923486 0 0 HEICO Corp CL A 422806208 211120 6441 X 211120 0 0 Hospitality Properties Trust COM 44106M102 23915 569 X 23915 0 0 Interactive Intelligence Inc. COM 45839M103 2225360 66872 X 2225360 0 0 Interval Leisure Group COM 46113M108 565599 10691 X 565599 0 0 INTL FCStone Inc COM 459028106 3137107 59793 X 3137107 0 0 iShares Trust Dow Jones US Real Estate US RE 464287739 4330 279 X 4330 0 0 iShares Trust Treas Inflat US TIP B 464287176 5230 637 X 5230 0 0 Kinder Morgan Energy Partner LTD PTN 494550106 9600 792 X 9600 0 0 Kinder Morgan Management SHS 49455U100 3506 268 X 3506 0 0 Leucadia National Corp COM 527288104 16833 383 X 16833 0 0 Lockheed Martin Corporation COM 539830109 7075 661 X 7075 0 0 Microsoft Corp. COM 594918104 23944 713 X 23944 0 0 Morningstar, Inc. COM 617700109 119075 7459 X 119075 0 0 National Retail Properties, Inc. COM 637417106 14000 427 X 14000 0 0 Occidental Petroleum COM 674599105 12000 1033 X 12000 0 0 Omega Flex, Inc. COM 682095104 543559 5767 X 543559 0 0 Pennsylvania Real Estate Invt SH BEN IN709102107 10155 161 X 10155 0 0 Pfizer Inc. COM 717081103 16579 412 X 16579 0 0 Phillips 66 COM 718546104 15000 696 X 15000 0 0 Pizza Inn Inc COM 725848105 126530 369 X 126530 0 0 Powershares Emerging Market Sov Debt 73936T573 17013 522 X 17013 0 0 PowerShares Global Trust Nat Muni 73936T474 48713 1254 X 48713 0 0 Sears Holdings Corp COM 812350106 6458 358 X 6458 0 0 SPDR Series Trust-Inter Treas ETF 78464A516 15643 963 X 15643 0 0 SPDR Barclays Capital High Yield High Yld 78464A417 5627 226 X 5627 0 0 SPDR S&P Middle East & Africa Mid East 78463X806 8343 585 X 8343 0 0 Stamps.com COM 852857200 448254 12535 X 448254 0 0 Stratasys Inc. COM 862685104 187456 10198 X 187456 0 0 Tandy Leather Factory Inc. COM 87538X105 1634836 8665 X 1634836 0 0 The Dolan Company COM 25659P402 2540335 13667 X 2540335 0 0 The Middleby Corp COM 596278101 132643 15339 X 132643 0 0 TravelCenters of America COM 894174101 30000 161 X 30000 0 0 Travelzoo Inc. COM 89421Q106 388432 9155 X 388432 0 0 Utah Medical Products COM 917488108 425557 14465 X 425557 0 0 Vanguard Scottsdale MBS Mort Bck 92206C771 6659 352 X 6659 0 0 Vanguard Scottsdale Short Term Corp ST Corp 92206C409 10358 832 X 10358 0 0 Vanguard Index ETF VALUE 922908744 14444 848 X 14444 0 0 Vanguard Intern Index Emer Mkt 922042858 19201 801 X 19201 0 0 Vanguard Intern Index Europe 922042874 14189 642 X 14189 0 0 Weingarten Realty SH BEN T 948741103 7900 222 X 7900 0 0 Western Union Co COM 959802109 20539 374 X 20539 0 0 Weyerhaeuser Co COM 962166104 29966 783 X 29966 0 0 White Mountains Insurance Group COM G9618E107 542 278 X 542 0 0 Winmark Corp COM 974250102 840900 45476 X 840900 0 0 XCEL Energy Inc. COM 98389B100 26000 720 X 26000 0 0 Zimmer Holdings, Inc. COM 98956P102 8551 578 X 8551 0 0