13F-HR 1 bcm13f-hr20081231.txt 2008-12-31 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, 2008 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 13, 2009 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: 49 Form 13F Information Table Value Total: $138,275 (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) AAON, Inc. COM 360206 568614 11873 X 568614 0 0 Advisory Board Co. COM 00762W107 77141 1720 X 77141 0 0 Alaska Communications Systems COM 01167P101 40000 375 X 40000 0 0 Align Technology, Inc. COM 16255101 290839 2545 X 290839 0 0 AltiGen Communications Inc COM 21489109 140357 124 X 140357 0 0 American Dental Partners COM 25353103 1323912 9188 X 1323912 0 0 American Express Company COM 025816109 25116 466 X 25116 0 0 AutoZone Inc. COM 53332102 6285 877 X 6285 0 0 Berkshire Hathaway Inc CL A 84670108 5 483 X 5 0 0 Berkshire Hathaway Inc CL B 84670207 174 559 X 174 0 0 BIDZ.com Inc. COM 08883T200 1376546 6332 X 1376546 0 0 Blue Nile, Inc. COM 09578R103 10105 247 X 10105 0 0 Brookfield Asset Management Inc COM 112585104 25801 394 X 25801 0 0 Choice Hotels International COM 169905106 39536 1188 X 39536 0 0 Conagra Food Inc COM 205887102 10000 165 X 10000 0 0 ConocoPhillips COM 20825C104 30000 1554 X 30000 0 0 Corporate Executive Board COM 21988R102 99086 2186 X 99086 0 0 Diamond Hill Investment Group Inc. COM 25264R207 179819 11688 X 179819 0 0 Emerson Electric Co. COM 291011104 12341 452 X 12341 0 0 Greenlight Capital Re LTD CL A G4095J109 142441 1850 X 142441 0 0 Hospitality Properties Trust COM 44106M102 23915 356 X 23915 0 0 Interactive Intelligence Inc. COM 45839M103 2362028 15141 X 2362028 0 0 International Assets Holding Corp COM 459028106 1208722 10371 X 1208722 0 0 Kinder Morgan Energy Partner LTD PTN 494550106 4600 210 X 4600 0 0 Leucadia National Corp. COM 527288104 23545 466 X 23545 0 0 Level 3 Communications COM 52729N100 14500 10 X 14500 0 0 Mediware Information Systems COM 584946107 497685 2389 X 497685 0 0 Microsoft Corp. COM 594918104 33615 653 X 33615 0 0 Morningstar, Inc. COM 617700109 76149 2703 X 76149 0 0 MSCI, Inc. CL A 55354G100 64297 1142 X 64297 0 0 National Retail Properties, Inc. COM 637417106 14000 241 X 14000 0 0 Occidental Petroleum COM 674599105 12000 720 X 12000 0 0 OneBeacon Insurance Group CL A G67742109 117816 1230 X 117816 0 0 Penn National Gaming Inc. COM 707569109 105257 2250 X 105257 0 0 Pennsylvania Real Estate Invt SH BEN IN709102107 10155 76 X 10155 0 0 Pfizer Inc. COM 717081103 10000 177 X 10000 0 0 Princeton Review, Inc. COM 742352107 58086 286 X 58086 0 0 Rentrak Corp. COM 760174102 504014 5942 X 504014 0 0 Sears Holdings Corp COM 812350106 15697 610 X 15697 0 0 SPDR Series Trust IN TR ETF78464A516 10676 581 X 10676 0 0 Stamps.com COM 852857200 777150 7639 X 777150 0 0 Stratasys Inc. COM 862685104 961567 10337 X 961567 0 0 Tandy Leather Factory Inc. COM 87538X105 1533282 3297 X 1533282 0 0 Utah Medical Products COM 917488108 268523 5894 X 268523 0 0 Walgreens Co COM 931422109 23598 582 X 23598 0 0 Washington Post Co. CL B 939640108 1261 492 X 1261 0 0 White Mountains Insurance Group COM G9618E107 1539 411 X 1539 0 0 Winmark Corp COM 974250102 810395 9320 X 810395 0 0 XCEL Energy Inc. COM 98389B100 26000 482 X 26000 0 0