Andrew Brenton’s Portfolio — Turtle Creek Asset Management Inc.

Andrew Brenton co-founded Toronto's Turtle Creek Asset Management, which compounded at extraordinary rates for two decades by running concentrated mid-cap value with a distinctive discipline of continuous position resizing as prices move around intrinsic value.

Turtle Creek's 13F shows its U.S. mid-cap sleeve — engineered-products, industrial technology, and consumer names — with weights that visibly shift quarter to quarter as its rebalancing rule trims winners and adds to laggards.

Turtle Creek Asset Management Inc. reported $2.7B in U.S.-listed holdings across 39 positions for Q1 2026.

Its largest position, BFH, represents 6.8% of the portfolio.

Compared with Q4 2025, the fund opened 2 new positions and exited 1.