Turtle Creek Asset Management’s Q3 2025 Investor Letter

Turtle Creek Asset Management, an investment management company, has released its third-quarter 2025 investor letter. The firm believes that the portfolio offered a compelling opportunity in a highly valued market environment. The net asset value of the Turtle Creek Equity Fund increased by 0.4% in the third quarter, lagging behind the S&P MidCap 400 index’s 7.7% increase and the S&P/TSX Completion index’s 16.3% gain. Turtle Creek Synthetic PE Fund increased 1.4%, Turtle Creek United States Equity Fund decreased 1.0% and Turtle Creek Canadian Equity Fund increased 7.8% during the same...