TC
Turtle Creek Asset Management Inc. 13F Holdings (38 Positions, Q2 2026)
Turtle Creek Asset Management Inc.CIK: 0001484148
Momentum followerQuality / disciplined sizingDiversified strategy
Total reported value
$2.6B
Reporting period: 2026-06-30 · Number of holdings: 38
Turtle Creek Asset Management Inc. disclosed 38 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.6B and a quarterly turnover rate of 25.2%.
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Personality snowflake
- Concentration
- 17.55
- Portfolio Stability
- 25.23
- Momentum
- 100
- Sector conviction
- 61.33
- Diversification
- 76
- Sizing Uniformity
- 91.72
Turtle Creek Asset Management Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.044 — mathematically equivalent to about 23 equally-sized positions, close to its 38 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.83), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.1 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim TFII
-83.3% -$91.6M
Add BCO
+1550.7% $80.8M
Trim CE
-50.3% -$62.6M
Add ENSG
+11.1% $52.7M
Trim ATS
-70.3% -$49.3M
Add FISV
+26.7% $29.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | FISV | Fiserv Inc | Stock-Other | 6.90% | +1.38% | +26.71% | |
| 2 | CIGI | Colliers Intl Gr-subord Vot | Stock-Other | 6.74% | +0.21% | -24.22% | |
| 3 | FND | Floor & Decor Holdings Inc-a | Stock-Consumer Disc | 6.53% | +1.29% | -39.28% | |
| 4 | BFH | Bread Financial Holdings Inc | Stock-Financials | 5.55% | -1.26% | -73.66% | |
| 5 | KNSL | Kinsale Capital Group Inc | Stock-Financials | 5.14% | -0.12% | -2.95% | |
| 6 | WSC | Willscot Holdings CORP | Stock-Industrials | 4.99% | -0.12% | -43.80% | |
| 7 | EEFT | Euronet Worldwide Inc | Stock-Tech | 4.86% | +0.27% | -44.83% | |
| 8 | SUNB | Sunbelt Rentals Holdings Inc | Stock-Industrials | 4.53% | -0.83% | -29.64% | |
| 9 | IR | Ingersoll-rand Inc | Stock-Industrials | 4.35% | +0.45% | -40.90% | |
| 10 | CE | Celanese CORP | Stock-Materials | 4.10% | -2.17% | -50.27% | |
| 11 | ENSG | Ensign Group Inc/the | Stock-Healthcare | 4.08% | +2.14% | +11.08% | |
| 12 | WEX | Wex Inc | Stock-Tech | 4.01% | +0.18% | +8.78% | |
| 13 | VNT | Vontier CORP | Stock-Tech | 4.01% | +1.20% | +67.48% | |
| 14 | MIDD | Middleby CORP | Stock-Industrials | 3.95% | -0.73% | -22.57% | |
| 15 | ATS | Ats CORP | Stock-Other | 3.47% | -1.70% | -70.30% | |
| 16 | BCO | Brink's Co/the | Stock-Industrials | 3.38% | +3.16% | +1550.67% | |
| 17 | SCI | Service CORP International | Stock-Consumer Disc | 3.35% | -0.24% | -2.67% | |
| 18 | SSNC | Ss&c Technologies Holdings | Stock-Tech | 2.94% | +0.02% | +4.85% | |
| 19 | MEDP | Medpace Holdings Inc | Stock-Healthcare | 2.83% | +0.39% | +0.80% | |
| 20 | PNTG | Pennant Group Inc/the | Stock-Other | 2.47% | +0.67% | +8.32% | |
| 21 | CCOI | Cogent Communications Holdin | Stock-Other | 2.28% | -0.79% | -49.07% | |
| 22 | GIL | Gildan Activewear Inc | Stock-Consumer Disc | 2.19% | +0.49% | -41.81% | |
| 23 | BC | Brunswick CORP | Stock-Consumer Disc | 2.18% | +0.03% | -63.82% | |
| 24 | MGA | Magna International Inc | Stock-Consumer Disc | 1.36% | +0.11% | -11.44% | |
| 25 | TFII | Tfi International Inc | Stock-Other | 1.02% | -3.38% | -83.25% | |
| 26 | JELD | Jeld-wen Holding Inc | Stock-Other | 0.97% | +0.20% | — | |
| 27 | DOO | Brp Inc/ca- Sub Voting | Stock-Other | 0.53% | -0.10% | -76.31% | |
| 28 | PATK | Patrick Industries Inc | Stock-Consumer Disc | 0.36% | +0.19% | +143.37% | |
| 29 | BLDR | Builders Firstsource Inc | Stock-Industrials | 0.34% | +0.05% | -40.91% | |
| 30 | ITT | Itt Inc | Stock-Industrials | 0.29% | +0.05% | +10.96% | |
| 31 | FSV | Firstservice CORP | Stock-Other | 0.10% | +0.04% | +50.40% | |
| 32 | SYF | Synchrony Financial | Stock-Financials | 0.07% | +0.01% | +2.47% | |
| 33 | DCBO | Docebo Inc | Stock-Other | 0.03% | +0.02% | +32.05% | |
| 34 | TNC | Tennant Co | Stock-Other | 0.03% | — | -26.15% | |
| 35 | OTEX | Open Text CORP | Stock-Other | 0.02% | — | -1.88% | |
| 36 | CLW | Clearwater Paper CORP | Stock-Other | 0.02% | +0.01% | -9.41% | |
| 37 | WFG | West Fraser Timber Co LTD | Stock-Other | 0.02% | -0.01% | -58.18% | |
| 38 | ROCK | Gibraltar Industries Inc | Stock-Other | 0.01% | +0.01% | NEW |
Portfolio Performance
Performance for Q3 2026
-0.1%
Performance Last 4 Quarters
+2%
- Stdev
- +21.6%
- Beta
- +1.19
- Alpha
- -18.8%
- Max Drawdown
- -22.8%
- Annualized Perf
- +2.7%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +0.36
- Stutzer
- +0.07
- Treynor
- +0.04
- Sterling
- +0.11
- Calmar
- +0.12
- Information Ratio
- -0.98
- Tracking Error
- +15.4%
- Stdev Down
- +13.8%
- Winning Months %
- +47.2%
- Losing Months %
- +52.8%
- Best 12 Months
- +27.7%
- Worst 12 Months
- -17.7%
- Efficiency Ratio
- +0.05
- Sharpe
- +0.23
- Stdev Sectors
- +7.9%
- Skewness
- +0.22
- Kurtosis
- -0.75
- Upside Potential
- +2.43
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 38 | $2.6B | 25 | ||
| 2026 Q1 | 39 | $2.7B | 40 | ||
| 2025 Q4 | 38 | $2.3B | 40 | ||
| 2025 Q3 | 41 | $3.3B | 43 | ||
| 2025 Q2 | 41 | $3.4B | 0 | ||
| 2025 Q1 | 38 | $3.6B | 100 | ||
| 2024 Q4 | 38 | $3.8B | 0 | ||
| 2024 Q3 | 38 | $4.2B | 0 | ||
| 2024 Q2 | 39 | $3.9B | 0 | ||
| 2024 Q1 | 40 | $4.1B | 0 | ||
| 2023 Q4 | 39 | $3.8B | 0 | ||
| 2023 Q3 | 39 | $3.5B | 0 | ||
| 2023 Q2 | 38 | $3.5B | 0 | ||
| 2023 Q1 | 37 | $3.2B | 0 | ||
| 2022 Q4 | 33 | $2.8B | 0 | ||
| 2022 Q3 | 31 | $2.4B | 0 | ||
| 2022 Q2 | 26 | $2.6B | 0 | ||
| 2022 Q1 | 26 | $2.9B | 0 | ||
| 2021 Q4 | 26 | $3.0B | 0 | ||
| 2021 Q3 | 26 | $2.6B | 0 | ||
| 2021 Q2 | 26 | $2.4B | 94 | ||
| 2021 Q1 | 26 | $2.1B | 17 | ||
| 2020 Q4 | 25 | $1.8B | 16 | ||
| 2020 Q3 | 26 | $1.6B | 18 | ||
| 2020 Q2 | 24 | $1.5B | 27 | ||
| 2020 Q1 | 24 | $1.2B | 50 | ||
| 2019 Q4 | 27 | $1.5B | 11 | ||
| 2019 Q3 | 26 | $1.4B | 13 | ||
| 2019 Q2 | 26 | $1.3B | 16 | ||
| 2019 Q1 | 26 | $1.3B | 22 | ||
| 2018 Q4 | 26 | $1.1B | 20 | ||
| 2018 Q3 | 26 | $1.3B | 36 | ||
| 2018 Q2 | 27 | $1.1B | 33 | ||
| 2018 Q1 | 27 | $1.1B | 7 | ||
| 2017 Q4 | 27 | $1.1B | 29 | ||
| 2017 Q3 | 26 | $1.0B | 24 | ||
| 2017 Q2 | 25 | $878.2M | 26 | ||
| 2017 Q1 | 14 | $858.3M | 51 | ||
| 2016 Q4 | 13 | $541.7M | 55 | ||
| 2016 Q3 | 11 | $331.8M | 32 | ||
| 2016 Q2 | 10 | $243.7M | 23 | ||
| 2016 Q1 | 9 | $193.2M | 33 | ||
| 2015 Q4 | 8 | $148.3M | 8 | ||
| 2015 Q3 | 8 | $137.7M | 24 | ||
| 2015 Q2 | 8 | $161.8M | 13 | ||
| 2015 Q1 | 8 | $145.4M | 19 | ||
| 2014 Q4 | 8 | $162.9M | 25 | ||
| 2014 Q3 | 8 | $134.8M | 0 |
Holding changes this quarter
Turtle Creek Asset Management Inc.'s most significant position changes for 2026-06-30: Sold out: Encore Capital Group Inc (ECPG); Sold out: Knight-swift Transportation (KNX); New buy: Gibraltar Industries Inc (ROCK); Trim: Tfi International Inc (TFII) — shares -83.25%; Add: Brink's Co/the (BCO) — shares +1550.67%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BCO | Brink's Co/the | +3.2% | +1550.67% | Add |
| 2 | ENSG | Ensign Group Inc/the | +2.1% | +11.08% | Add |
| 3 | FISV | Fiserv Inc | +1.4% | +26.71% | Add |
| 4 | FND | Floor & Decor Holdings Inc-a | +1.3% | -39.28% | Add |
| 5 | VNT | Vontier CORP | +1.2% | +67.48% | Add |
| 6 | PNTG | Pennant Group Inc/the | +0.7% | +8.32% | Add |
| 7 | GIL | Gildan Activewear Inc | +0.5% | -41.81% | Add |
| 8 | IR | Ingersoll-rand Inc | +0.5% | -40.90% | Add |
| 9 | MEDP | Medpace Holdings Inc | +0.4% | +0.80% | Add |
| 10 | EEFT | Euronet Worldwide Inc | +0.3% | -44.83% | Trim |
| 11 | CIGI | Colliers Intl Gr-subord Vot | +0.2% | -24.22% | Add |
| 12 | JELD | Jeld-wen Holding Inc | +0.2% | — | Unchanged |
| 13 | PATK | Patrick Industries Inc | +0.2% | +143.37% | Add |
| 14 | WEX | Wex Inc | +0.2% | +8.78% | Add |
| 15 | MGA | Magna International Inc | +0.1% | -11.44% | Trim |
| 16 | ITT | Itt Inc | +0.1% | +10.96% | Add |
| 17 | BLDR | Builders Firstsource Inc | +0.1% | -40.91% | Add |
| 18 | FSV | Firstservice CORP | 0% | +50.40% | Add |
| 19 | BC | Brunswick CORP | 0% | -63.82% | Trim |
| 20 | SSNC | Ss&c Technologies Holdings | 0% | +4.85% | Add |
| 21 | DCBO | Docebo Inc | 0% | +32.05% | Add |
| 22 | SYF | Synchrony Financial | 0% | +2.47% | Add |
| 23 | CLW | Clearwater Paper CORP | 0% | -9.41% | Add |
| 24 | ROCK | Gibraltar Industries Inc | 0% | NEW | New buy |
| 25 | TNC | Tennant Co | — | -26.15% | Trim |
| 26 | OTEX | Open Text CORP | — | -1.88% | Trim |
| 27 | WFG | West Fraser Timber Co LTD | 0% | -58.18% | Trim |
| 28 | DOO | Brp Inc/ca- Sub Voting | -0.1% | -76.31% | Trim |
| 29 | KNX | Knight-swift Transportation | -0.1% | EXIT | Sold out |
| 30 | WSC | Willscot Holdings CORP | -0.1% | -43.80% | Trim |
| 31 | KNSL | Kinsale Capital Group Inc | -0.1% | -2.95% | Trim |
| 32 | SCI | Service CORP International | -0.2% | -2.67% | Trim |
| 33 | MIDD | Middleby CORP | -0.7% | -22.57% | Trim |
| 34 | CCOI | Cogent Communications Holdin | -0.8% | -49.07% | Trim |
| 35 | SUNB | Sunbelt Rentals Holdings Inc | -0.8% | -29.64% | Trim |
| 36 | ECPG | Encore Capital Group Inc | -1% | EXIT | Sold out |
| 37 | BFH | Bread Financial Holdings Inc | -1.3% | -73.66% | Trim |
| 38 | ATS | Ats CORP | -1.7% | -70.30% | Trim |
| 39 | CE | Celanese CORP | -2.2% | -50.27% | Trim |
| 40 | TFII | Tfi International Inc | -3.4% | -83.25% | Trim |
Filing History
FAQ
What is Turtle Creek Asset Management Inc. and what type of investor is it?
Turtle Creek Asset Management Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $2.6B, spread across 38 disclosed positions.
What are Turtle Creek Asset Management Inc.'s largest equity positions?
Based on the latest 13F filing, Turtle Creek Asset Management Inc.'s top holdings by market value are:
1. Fiserv Inc (FISV) — $176.6M (6.9%)
2. Colliers Intl Gr-subord Vot (CIGI) — $172.5M (6.7%)
3. Floor & Decor Holdings Inc-a (FND) — $167.2M (6.5%)
4. Bread Financial Holdings Inc (BFH) — $142.0M (5.5%)
5. Kinsale Capital Group Inc (KNSL) — $131.6M (5.1%)
What changes did Turtle Creek Asset Management Inc. make in its most recent portfolio filing?
In the latest reported quarter, Turtle Creek Asset Management Inc. made 39 notable position adjustments: 1 new positions were initiated, 19 existing holdings were added to, 17 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Encore Capital Group Inc (ECPG); Sold out: Knight-swift Transportation (KNX); New buy: Gibraltar Industries Inc (ROCK); Trim: Tfi International Inc (TFII) — shares -83.25%; Add: Brink's Co/the (BCO) — shares +1550.67%
What sectors does Turtle Creek Asset Management Inc. focus on?
Turtle Creek Asset Management Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 28.9%
• Consumer Discretionary: 21.2%
• Information Technology: 21.0%
• Financials: 14.3%
• Health Care: 9.2%
• Materials: 5.4%
Investment Profile
Turtle Creek Asset Management Inc. returned an annualized 2.7% over the trailing 36 months — underperforming the S&P 500 by 18.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.19 (more volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 25 over the past 4 quarters — a shift toward more active trading.
It has added to its FISV position over the past two quarters (+$160.0M, now $176.6M), while trimming TFII over the same stretch (-$116.1M, still holding $26.0M).
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Developer Access
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