Andrew Brenton - Turtle Creek Asset Management 13F Activity & Position Changes (Q1 2025)

As of Mar 31, 2025, the Turtle Creek Asset Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2025. 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 2025, the filing reported:

New Buys - None reported

Increases - Brunswick Corporation, Bread Financial Holdings, Inc., Builders FirstSource, Inc., BorgWarner Inc., Cogent Communications Holdings,, and 18 more

Reductions - Magnera, ATS Corporation, Berry Global Group, Inc., CVS Health Corporation, Euronet Worldwide, Inc., and 9 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 2025	55939A107 Magnera	Magnera	Sell	-257,854	-45.0%	$5.72M	314,733
Q1 2025	ATS ATS Corporation	ATS Corporation	Sell	-37,045	-0.4%	$206.96M	8,301,528
Q1 2025	BC Brunswick Corporation	Brunswick Corporation	Buy	+800,157	+27.0%	$202.78M	3,765,617
Q1 2025	BERY Berry Global Group, Inc.	Berry Global Group, Inc.	Sell	-234,249	-9.0%	$166.26M	2,381,600
Q1 2025	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+263,753	+7.1%	$200.56M	4,004,747
Q1 2025	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy	+13,800	+72.1%	$4.12M	32,940
Q1 2025	BWA BorgWarner Inc.	BorgWarner Inc.	Buy	+120,709	+3.0%	$120.32M	4,199,489
Q1 2025	CCOI Cogent Communications Holdings,	Cogent Communications Holdings,	Buy	+36,377	+29.1%	$9.91M	161,577
Q1 2025	CE Celanese Corporation	Celanese Corporation	Buy	+998,925	+28.5%	$255.77M	4,505,365
Q1 2025	CIGI Colliers International Group In	Colliers International Group In	Buy	+19,160	+1.5%	$158.16M	1,303,883
Q1 2025	CLW Clearwater Paper Corporation	Clearwater Paper Corporation	Buy	+500	+5.4%	$246.09K	9,700
Q1 2025	CVS CVS Health Corporation	CVS Health Corporation	Sell	-254,550	-13.0%	$115.07M	1,698,441
Q1 2025	DCBO Docebo Inc.	Docebo Inc.	Buy	+2,400	+72.7%	$163.65K	5,700
Q1 2025	DOOO BRP Inc.	BRP Inc.	Buy	+645,841	+21.7%	$122.27M	3,616,521
Q1 2025	ECPG Encore Capital Group Inc	Encore Capital Group Inc	Buy	+87,962	+4.3%	$73.53M	2,145,105
Q1 2025	EEFT Euronet Worldwide, Inc.	Euronet Worldwide, Inc.	Sell	-78,008	-9.5%	$79.19M	741,149
Q1 2025	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Buy	+405,673	+29.6%	$143.02M	1,777,356
Q1 2025	GIL Gildan Activewear, Inc.	Gildan Activewear, Inc.	Sell	-865,650	-33.2%	$76.94M	1,739,830
Q1 2025	IR Ingersoll Rand Inc.	Ingersoll Rand Inc.	Buy	+153,203	+8.9%	$150.59M	1,881,619
Q1 2025	JELD JELD-WEN Holding, Inc.	JELD-WEN Holding, Inc.	Buy	+486,355	+3.3%	$91.52M	15,329,275
Q1 2025	KMX CarMax Inc	CarMax Inc	Buy	+12,179	+0.5%	$202.77M	2,602,250
Q1 2025	KNSL Kinsale Capital Group, Inc.	Kinsale Capital Group, Inc.	Buy	+16,050	+6.6%	$126.97M	260,873
Q1 2025	KNX Knight-Swift Transportation Hol	Knight-Swift Transportation Hol	Sell	-66,800	-27.8%	$7.54M	173,263
Q1 2025	MGA Magna International, Inc.	Magna International, Inc.	Buy	+416,774	+18.2%	$91.81M	2,701,152
Q1 2025	MIDD The Middleby Corporation	The Middleby Corporation	Sell	-401,152	-21.5%	$222.68M	1,465,207
Q1 2025	OTEX Open Text Corporation	Open Text Corporation	Sell	-246,650	-4.6%	$129.33M	5,120,053
Q1 2025	PATK Patrick Industries, Inc.	Patrick Industries, Inc.	Buy	+6,600	+9.7%	$6.32M	74,700
Q1 2025	PHIN PHINIA Inc.	PHINIA Inc.	Buy	+300	+20.0%	$76.37K	1,800
Q1 2025	PNTG The Pennant Group, Inc.	The Pennant Group, Inc.	Buy	+6,500	+260.0%	$226.35K	9,000
Q1 2025	SCI Service Corporation Internation	Service Corporation Internation	Sell	-43,968	-2.6%	$130.18M	1,623,179

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