Turtle Creek Asset Management Inc.

Q3 2025 13F-HR Holdings

Location
Toronto, A6
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
41
Total value ($000)
$3,313,434
Net value change ($000)
-131,532 (-3.8%)
New positions
4
Sold out positions
4
Turnover %
11.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
FISV 100,237 NEW
WEX 93,289 NEW
ENSG 78,840 NEW
WSC 44,969 32.3%
CCOI 41,924 31.1%
ARCB 39,508 NEW
JELD 18,058 28.4%
EEFT 12,348 17.3%
GIL 6,923 8.8%
ECPG 2,339 3.0%
Top Reduces (Value $000, Stocks/ETFs)
OTEX -90,124 -97.8%
BWA -84,962 -70.9%
AMCR -77,201 -100.0%
KMX -59,368 -32.8%
ATS -59,293 -24.5%
DOO -40,344 -27.9%
CIGI -35,757 -21.9%
BFH -22,200 -10.8%
CE -18,667 -8.0%
VNT -17,475 -18.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type