13F-HR 1 bcm13f-hr20100930.txt BCM 13F-HR 2010-09-30 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, 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 November 12, 2010 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: 59 Form 13F Information Table Value Total: $288,358 (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 98609 4354 X 98609 0 0 Alaska Communications Systems COM 01167P101 40700 413 X 40700 0 0 AltiGen Communications Inc COM 21489109 267600 201 X 267600 0 0 American Dental Partners COM 25353103 902582 10885 X 902582 0 0 American Express Company COM 25816109 17476 735 X 17476 0 0 American Public Education COM 2913V103 270523 8889 X 270523 0 0 Automatic Data Processing COM 53015103 15580 655 X 15580 0 0 Berkshire Hathaway Inc CL A 84670108 5 623 X 5 0 0 Berkshire Hathaway Inc CL B 84670207 5450 451 X 5450 0 0 BIDZ.com Inc. COM 08883T200 1473964 2447 X 1473964 0 0 Brookfield Asset Management Inc COM 112585104 33978 964 X 33978 0 0 Choice Hotels International COM 169905106 10000 365 X 10000 0 0 Colfax Corporation COM 194014106 390335 5804 X 390335 0 0 Conagra Food Inc COM 205887102 10000 219 X 10000 0 0 ConocoPhillips COM 20825C104 30000 1723 X 30000 0 0 Corporate Executive Board COM 21988R102 223364 7049 X 223364 0 0 Derma Sciences Inc COM 249827502 10439 50 X 10439 0 0 Emergent Group Inc COM 29089V203 30000 175 X 30000 0 0 Emerson Electric Co COM 291011104 11208 590 X 11208 0 0 Exelon Corp COM 30161N101 6866 292 X 6866 0 0 Female Health Company COM 314462102 727837 3748 X 727837 0 0 Greenlight Capital Re LTD CL A G4095J109 277944 6954 X 277944 0 0 Hallmark Financial Services COM 40624Q203 2343035 20478 X 2343035 0 0 HEICO Corp CL A 422806208 109832 3742 X 109832 0 0 Hospitality Properties Trust COM 44106M102 23915 534 X 23915 0 0 Interactive Intelligence Inc. COM 45839M103 2479851 43645 X 2479851 0 0 International Assets Holding Corp COM 459028106 2264851 40994 X 2264851 0 0 Interval Leisure Group COM 46113M108 275837 3716 X 275837 0 0 iShares Trust Treas Inflat US TIP B 464287176 8652 944 X 8652 0 0 Kinder Morgan Energy Partner LTD PTN 494550106 9600 658 X 9600 0 0 Leucadia National Corp. COM 527288104 12132 287 X 12132 0 0 Level 3 Communications COM 52729N100 14500 14 X 14500 0 0 Lockheed Martin Corporation COM 539830109 9585 683 X 9585 0 0 Microsoft Corp. COM 594918104 30695 752 X 30695 0 0 Morningstar, Inc. COM 617700109 103701 4621 X 103701 0 0 National Retail Properties, Inc. COM 637417106 14000 352 X 14000 0 0 Occidental Petroleum COM 674599105 12000 940 X 12000 0 0 Omega Flex, Inc. COM 682095104 319600 4564 X 319600 0 0 Pennsylvania Real Estate Invt SH BEN IN709102107 10155 120 X 10155 0 0 Pfizer Inc. COM 717081103 10000 172 X 10000 0 0 Pizza Inn Inc COM 725848105 60502 114 X 60502 0 0 Reis Inc COM 75936P105 15000 96 X 15000 0 0 Sears Holdings Corp COM 812350106 7899 570 X 7899 0 0 Simulations Plus Inc COM 829214105 30622 87 X 30622 0 0 SPDR Series Trust IN TR ETF78464A516 18764 1125 X 18764 0 0 SPDR Index Shares IN SM ETF78463X871 7452 208 X 7452 0 0 Stamps.com COM 852857200 1020306 13264 X 1020306 0 0 Stratasys Inc. COM 862685104 852874 23642 X 852874 0 0 Tandy Leather Factory Inc. COM 87538X105 1636019 7280 X 1636019 0 0 The Dolan Company COM 25659P402 364178 4141 X 364178 0 0 TravelCenters of America COM 894174101 30000 104 X 30000 0 0 Travelzoo Inc. COM 89421Q106 333884 8601 X 333884 0 0 Utah Medical Products COM 917488108 328035 9595 X 328035 0 0 Walgreens Co COM 931422109 24729 828 X 24729 0 0 Weight Watcher's International COM 948626106 143809 4485 X 143809 0 0 Western Union Co COM 959802109 34521 610 X 34521 0 0 Winmark Corp COM 974250102 839318 28067 X 839318 0 0 Winthrop Realty Trust, Inc. COM 976391102 11725 145 X 11725 0 0 XCEL Energy Inc. COM 98389B100 26000 597 X 26000 0 0