Andrew Brenton - Turtle Creek Asset Management 13F Activity & Position Changes (Q1 2023)

According to the SEC 13F filed on May 15, 2023, the Turtle Creek Asset Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2023. 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 2023, the filing reported:

New Buys - Docebo Inc., Lulu's Fashion Lounge Holdings,, The Pennant Group, Inc., Tennant Company

Increases - Bread Financial Holdings, Inc., Builders FirstSource, Inc., Celanese Corporation, Colliers International Group In, CVS Health Corporation, and 17 more

Reductions - Brunswick Corporation, Berry Global Group, Inc., BorgWarner Inc., BRP Inc., Euronet Worldwide, Inc., and 6 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 2023	BC Brunswick Corporation	Brunswick Corporation	Sell	-7,438	-0.5%	$127.59M	1,555,948
Q1 2023	BERY Berry Global Group, Inc.	Berry Global Group, Inc.	Sell	-506,080	-8.1%	$337.19M	5,724,830
Q1 2023	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+678,429	+15.9%	$149.93M	4,944,810
Q1 2023	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy	+6,800	+46.1%	$1.91M	21,550
Q1 2023	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-373,365	-13.8%	$114.31M	2,327,659
Q1 2023	CE Celanese Corporation	Celanese Corporation	Buy	+85,256	+13.0%	$80.94M	743,356
Q1 2023	CIGI Colliers International Group In	Colliers International Group In	Buy	+87,036	+8.8%	$113.47M	1,074,990
Q1 2023	CVS CVS Health Corporation	CVS Health Corporation	Buy	+26,500	+486.2%	$2.37M	31,950
Q1 2023	DCBO Docebo Inc.	Docebo Inc.	Buy - Position Entry	+900	-	$36.67K	900
Q1 2023	DFS Discover Financial Services	Discover Financial Services	Buy	+232,700	+23.3%	$121.65M	1,230,805
Q1 2023	DOOO BRP Inc.	BRP Inc.	Sell	-50	-0.3%	$1.54M	19,750
Q1 2023	ECPG Encore Capital Group Inc	Encore Capital Group Inc	Buy	+592,906	+39.3%	$105.97M	2,100,466
Q1 2023	EEFT Euronet Worldwide, Inc.	Euronet Worldwide, Inc.	Sell	-127,063	-14.0%	$87.00M	777,461
Q1 2023	FI Fiserv, Inc.	Fiserv, Inc.	Buy	+8,000	+296.3%	$1.21M	10,700
Q1 2023	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Buy	+24,400	+2.2%	$109.95M	1,119,460
Q1 2023	GIL Gildan Activewear, Inc.	Gildan Activewear, Inc.	Buy	+279,652	+6.0%	$165.14M	4,975,649
Q1 2023	IR Ingersoll Rand Inc.	Ingersoll Rand Inc.	Sell	-69,346	-2.5%	$156.52M	2,690,310
Q1 2023	JBT John Bean Technologies Corporat	John Bean Technologies Corporat	Buy	+83,500	+12.0%	$85.35M	780,949
Q1 2023	JELD JELD-WEN Holding, Inc.	JELD-WEN Holding, Inc.	Buy	+190,700	+1.4%	$176.61M	13,949,920
Q1 2023	KMX CarMax Inc	CarMax Inc	Buy	+155,700	+5.3%	$197.70M	3,075,639
Q1 2023	KNX Knight-Swift Transportation Hol	Knight-Swift Transportation Hol	Buy	+1,050	+1.5%	$4.07M	71,863
Q1 2023	LVLU Lulu's Fashion Lounge Holdings,	Lulu's Fashion Lounge Holdings,	Buy - Position Entry	+28,000	-	$66.64K	28,000
Q1 2023	MGA Magna International, Inc.	Magna International, Inc.	Buy	+36,850	+1.7%	$117.51M	2,193,529
Q1 2023	MIDD The Middleby Corporation	The Middleby Corporation	Buy	+7,400	+0.6%	$181.24M	1,236,222
Q1 2023	OSK Oshkosh Corporation (Holding Co	Oshkosh Corporation (Holding Co	Sell	-550	-1.5%	$2.93M	35,250
Q1 2023	OTEX Open Text Corporation	Open Text Corporation	Sell	-635,650	-14.9%	$139.51M	3,618,909
Q1 2023	PBH Prestige Consumer Healthcare In	Prestige Consumer Healthcare In	Buy	+9,700	+173.2%	$958.24K	15,300
Q1 2023	PNTG The Pennant Group, Inc.	The Pennant Group, Inc.	Buy - Position Entry	+7,200	-	$102.82K	7,200
Q1 2023	RVLV Revolve Group, Inc.	Revolve Group, Inc.	Sell	-1,600	-1.2%	$3.33M	126,699
Q1 2023	SCI Service Corporation Internation	Service Corporation Internation	Buy	+242,929	+17.8%	$110.56M	1,607,375

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