Andrew Brenton - Turtle Creek Asset Management 13F Activity & Position Changes (Q1 2021)

According to the SEC 13F filed on May 14, 2021, the Turtle Creek Asset Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2021. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2021, the filing reported:

New Buys - Encore Capital Group Inc

Increases - Berry Global Group, Inc., BorgWarner Inc., Discover Financial Services, Flowserve Corporation, Ingersoll Rand Inc., and 5 more

Reductions - Bread Financial Holdings, Inc., BRP Inc., F5, Inc., Gildan Activewear, Inc., Magna International, Inc., and 7 more

Complete Exits - None reported

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2021	BERY Berry Global Group, Inc.	Berry Global Group, Inc.	Buy	+372,300	+8.1%	$306.71K	4,995,212
Q1 2021	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-453,262	-33.4%	$101.09K	901,869
Q1 2021	BWA BorgWarner Inc.	BorgWarner Inc.	Buy	+62,050	+2.6%	$112.19K	2,420,074
Q1 2021	DFS Discover Financial Services	Discover Financial Services	Buy	+8,300	+0.7%	$108.57K	1,142,975
Q1 2021	DOOO BRP Inc.	BRP Inc.	Sell	-4,300	-71.7%	$148.00	1,700
Q1 2021	ECPG Encore Capital Group Inc	Encore Capital Group Inc	Buy - Position Entry	+1,328,290	-	$53.44K	1,328,290
Q1 2021	FFIV F5, Inc.	F5, Inc.	Sell	-3,200	-30.9%	$1.49K	7,150
Q1 2021	FLS Flowserve Corporation	Flowserve Corporation	Buy	+12,734	+0.8%	$63.90K	1,646,462
Q1 2021	GIL Gildan Activewear, Inc.	Gildan Activewear, Inc.	Sell	-120,750	-2.2%	$165.61K	5,401,402
Q1 2021	IR Ingersoll Rand Inc.	Ingersoll Rand Inc.	Buy	+66,250	+3.9%	$86.83K	1,764,456
Q1 2021	KMX CarMax Inc	CarMax Inc	Buy	+129,750	+34.7%	$66.85K	503,918
Q1 2021	KNX Knight-Swift Transportation Hol	Knight-Swift Transportation Hol	Buy	+300	+1.9%	$756.00	15,713
Q1 2021	MGA Magna International, Inc.	Magna International, Inc.	Sell	-195,300	-12.7%	$118.37K	1,344,500
Q1 2021	MIDD The Middleby Corporation	The Middleby Corporation	Sell	-21,000	-1.8%	$187.87K	1,133,473
Q1 2021	OTEX Open Text Corporation	Open Text Corporation	Sell	-22,750	-1.2%	$90.12K	1,888,866
Q1 2021	PBH Prestige Consumer Healthcare In	Prestige Consumer Healthcare In	Sell	-196,081	-8.3%	$96.10K	2,180,057
Q1 2021	PII Polaris Inc.	Polaris Inc.	Sell	-2,000	-15.6%	$1.44K	10,800
Q1 2021	PRAA PRA Group, Inc.	PRA Group, Inc.	Buy	+414,499	+18.9%	$96.77K	2,610,412
Q1 2021	SCI Service Corporation Internation	Service Corporation Internation	Buy	+231,301	+16.1%	$85.25K	1,669,845
Q1 2021	SSNC SS&C Technologies Holdings, Inc	SS&C Technologies Holdings, Inc	Buy	+193,537	+10.7%	$140.45K	2,010,115
Q1 2021	TFII TFI International Inc.	TFI International Inc.	Sell	-214,250	-15.3%	$88.72K	1,186,739
Q1 2021	ULTA Ulta Beauty, Inc.	Ulta Beauty, Inc.	Sell	-1,050	-17.9%	$1.48K	4,800
Q1 2021	URBN Urban Outfitters, Inc.	Urban Outfitters, Inc.	Sell	-715,167	-23.4%	$87.11K	2,342,439