SCHEDULE 13G: Turtle Creek Asset Management Boosts Stake in BRP Inc. to 10.5%

Turtle Creek Asset Management Inc. has disclosed an increased beneficial ownership stake in BRP Inc.'s Subordinate Voting Shares, reaching 10.5% as of March 31, 2025.

Summary

• Turtle Creek Asset Management Inc., a Canadian investment adviser, has filed a Schedule 13G indicating its beneficial ownership in BRP Inc.'s Subordinate Voting Shares.
• As of March 31, 2025, Turtle Creek Asset Management Inc. beneficially owned 3,616,521 Subordinate Voting Shares of BRP Inc., representing approximately 10.5% of the class outstanding.
• This ownership stake has increased over time: from 2,302,073 shares (6.7%) as of September 30, 2024, to 2,970,680 shares (8.6%) as of December 31, 2024.
• The percentages are based on the issuer's reported outstanding shares: 34,483,199 as of September 4, 2024; 34,490,799 as of December 4, 2024; and 34,512,399 as of March 24, 2025.
• Turtle Creek Asset Management Inc. holds sole voting and sole dispositive power over all the reported shares.
• The shares are held for the benefit of unit holders of mutual funds managed by Turtle Creek, with no single unit holder known to have an interest exceeding 5% of the class.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of BRP Inc.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as an investment firm has increased its stake, indicating confidence. However, it's a factual disclosure without explicit forward-looking statements or financial performance details from the issuer, limiting a strong positive or negative sentiment.

Positives

• Increased stake by an investment adviser may signal confidence in BRP Inc.'s long-term prospects.
• The acquisition of shares is stated to be in the ordinary course of business, not for control purposes, suggesting a passive investment strategy.

Future Outlook

NA

Industry Context

This filing indicates a significant investment by an asset management firm in a recreational product manufacturer. Such disclosures are common in the investment landscape, reflecting institutional investor interest in specific companies within various sectors.

Stakeholder Impact

• Shareholders: The disclosure of a significant and increasing stake by an institutional investor like Turtle Creek Asset Management Inc. may be viewed positively, potentially signaling confidence in BRP Inc.'s value and future performance. This could influence investor sentiment and trading activity.

Key Dates

Keywords

BRP Inc., Turtle Creek Asset Management Inc., Schedule 13G, Beneficial Ownership, Subordinate Voting Shares, Investment Adviser, Shareholding, SEC Filing, Public Disclosure