Andrew Brenton - Turtle Creek Asset Management 13F Activity & Position Changes (Q3 2025)

As of Sep 30, 2025, the Turtle Creek Asset Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 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 Q3 2025, the filing reported:

New Buys - ArcBest Corporation, The Ensign Group, Inc., Fiserv, Inc., WEX Inc.

Increases - Cogent Communications Holdings,, Celanese Corporation, Clearwater Paper Corporation, Euronet Worldwide, Inc., JELD-WEN Holding, Inc., and 8 more

Reductions - ATS Corporation, Brunswick Corporation, Bread Financial Holdings, Inc., Builders FirstSource, Inc., BorgWarner Inc., and 18 more

Complete Exits - CVS Health Corporation, Amcor, PHINIA Inc., Sealed Air Corporation

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
Q3 2025	ARCB ArcBest Corporation	ArcBest Corporation	Buy - Position Entry	+565,450	-	$39.51M	565,450
Q3 2025	ATS ATS Corporation	ATS Corporation	Sell	-617,528	-8.1%	$182.69M	6,973,010
Q3 2025	BC Brunswick Corporation	Brunswick Corporation	Sell	-648,394	-18.1%	$185.05M	2,926,223
Q3 2025	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-311,050	-8.7%	$183.12M	3,283,546
Q3 2025	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Sell	-10,050	-15.1%	$6.86M	56,540
Q3 2025	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-2,785,803	-77.8%	$34.85M	792,686
Q3 2025	CCOI Cogent Communications Holdings,	Cogent Communications Holdings,	Buy	+1,811,222	+64.9%	$176.56M	4,603,933
Q3 2025	CE Celanese Corporation	Celanese Corporation	Buy	+887,600	+21.0%	$215.25M	5,115,365
Q3 2025	CIGI Colliers International Group In	Colliers International Group In	Sell	-434,400	-34.7%	$127.49M	816,133
Q3 2025	CLW Clearwater Paper Corporation	Clearwater Paper Corporation	Buy	+1,500	+14.0%	$253.27K	12,200
Q3 2025	CVS CVS Health Corporation	CVS Health Corporation	Sell - Position Exit	-10,500	-100.0%	$0.00	-
Q3 2025	DCBO Docebo Inc.	Docebo Inc.	Sell	-500	-4.9%	$265.10K	9,700
Q3 2025	DOOO BRP Inc.	BRP Inc.	Sell	-1,268,625	-42.5%	$104.40M	1,717,746
Q3 2025	ECPG Encore Capital Group Inc	Encore Capital Group Inc	Sell	-92,000	-4.5%	$81.29M	1,947,490
Q3 2025	EEFT Euronet Worldwide, Inc.	Euronet Worldwide, Inc.	Buy	+249,676	+35.4%	$83.89M	955,346
Q3 2025	ENSG The Ensign Group, Inc.	The Ensign Group, Inc.	Buy - Position Entry	+456,332	-	$78.84M	456,332
Q3 2025	FI Fiserv, Inc.	Fiserv, Inc.	Buy - Position Entry	+777,450	-	$100.24M	777,450
Q3 2025	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Sell	-102,788	-4.6%	$158.82M	2,155,011
Q3 2025	G0250X107 Amcor	Amcor	Sell - Position Exit	-8,400,523	-100.0%	$0.00	-
Q3 2025	GIL Gildan Activewear, Inc.	Gildan Activewear, Inc.	Sell	-115,800	-7.3%	$85.25M	1,474,955
Q3 2025	IR Ingersoll Rand Inc.	Ingersoll Rand Inc.	Sell	-35,326	-1.9%	$148.62M	1,798,850
Q3 2025	ITT ITT Inc.	ITT Inc.	Sell	-5,300	-16.8%	$4.69M	26,264
Q3 2025	JELD JELD-WEN Holding, Inc.	JELD-WEN Holding, Inc.	Buy	+407,947	+2.5%	$81.63M	16,625,557
Q3 2025	KMX CarMax Inc	CarMax Inc	Buy	+16,627	+0.6%	$121.48M	2,707,477
Q3 2025	KNSL Kinsale Capital Group, Inc.	Kinsale Capital Group, Inc.	Buy	+25,666	+12.8%	$96.07M	225,920
Q3 2025	KNX Knight-Swift Transportation Hol	Knight-Swift Transportation Hol	Buy	+9,700	+5.9%	$6.84M	173,213
Q3 2025	LVLU Lulu's Fashion Lounge Holdings,	Lulu's Fashion Lounge Holdings,	Sell	-51,332	-93.3%	$17.24K	3,668
Q3 2025	MEDP Medpace Holdings, Inc.	Medpace Holdings, Inc.	Sell	-6,200	-56.4%	$2.47M	4,800
Q3 2025	MGA Magna International, Inc.	Magna International, Inc.	Sell	-606,850	-23.7%	$92.39M	1,949,952
Q3 2025	MIDD The Middleby Corporation	The Middleby Corporation	Buy	+59,050	+4.2%	$194.32M	1,461,810

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