# EDGAR Filing Document

**Accession Number:** 0001748797
**File Stem:** 0000905148-25-002005
**Filing Date:** 2025-6
**Character Count:** 10041
**Document Hash:** 116bc0863bf942a256f728b22608a09a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000905148-25-002005.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0000905148-25-002005

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BRP Inc.
- **CENTRAL INDEX KEY:** 0001748797
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A8

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90665
- **FILM NUMBER:** 251026128

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 726 SAINT-JOSEPH STREET
- **CITY:** VALCOURT
- **NON US STATE TERRITORY:** QUEBEC, CANADA
- **PROVINCE COUNTRY:** A8
- **BUSINESS PHONE:** 450-532-2211

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 726 SAINT-JOSEPH STREET
- **CITY:** VALCOURT
- **NON US STATE TERRITORY:** QUEBEC, CANADA
- **PROVINCE COUNTRY:** A8
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Turtle Creek Asset Management Inc.
- **CENTRAL INDEX KEY:** 0001484148

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1109

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** SCOTIA PLAZA
- **STREET 2:** 40 KING STREET WEST, SUITE 5100
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 3Y2
- **BUSINESS PHONE:** (416) 363-7400

**MAIL ADDRESS:**
- **STREET 1:** SCOTIA PLAZA
- **STREET 2:** 40 KING STREET WEST, SUITE 5100
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5H 3Y2

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** BRP Inc.

**Title of Class of Securities:** Subordinate Voting Shares

**CUSIP Number:** 05577W200

**Date of Event Which Requires Filing of this Statement:** 09/30/2024

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [x] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Turtle Creek Asset Management Inc. | Names of Reporting Persons<br>Turtle Creek Asset Management Inc. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>Z4 | Citizenship or Place of Organization<br>Z4 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>3616521 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>3616521 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3616521 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>3616521 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>10.5% | Percent of Class Represented by Amount in Row (9)<br>10.5% |
| 12. | Type of Reporting Person (See Instructions)<br>FI | Type of Reporting Person (See Instructions)<br>FI |

**Comment for Type of Reporting Person:** See the response to Item 4(a).

---

**Item 1(a). Name of Issuer:**
BRP Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
726 Saint-Joseph Street, Valcourt, Quebec, Canada, J0E 2L0

**Item 2(a). Name of Person Filing:**
This statement on Schedule 13G is being filed by Turtle Creek Asset Management Inc. ("Turtle Creek").

**Item 2(b). Address of Principal Business Office:**
Scotia Plaza, 40 King Street West, Suite 5100, Toronto, Ontario M5H 3Y2 Canada

**Item 2(c). Citizenship:**
Canada

**Item 2(d). Title of Class of Securities:**
Subordinate Voting Shares

**Item 2(e). CUSIP Number:**
05577W200

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

The information set forth on the cover page of this Schedule 13G reflects information as of March 31, 2025, on which date the Reporting Person may have been deemed the beneficial owner of, and had sole voting and dispositive power over, 3,616,521 shares of Subordinate Voting Shares, which represent approximately 10.5% of the shares of Subordinate Voting Shares outstanding. This percentage is based on 34,512,399 shares of Subordinate Voting Shares outstanding as of March 24, 2025, as reported by the Issuer in its annual report on Form 40-F for the fiscal year ended January 31, 2025 filed with the Securities and Exchange Commission on March 26, 2025.
As of December 31, 2024, the Reporting Person may have been deemed the beneficial owner of, and had sole voting and dispositive power over, 2,970,680 shares of Subordinate Voting Shares, which represent approximately 8.6% of the shares of Subordinate Voting Shares outstanding. This percentage is based on 34,490,799 shares of Subordinate Voting Shares outstanding as of December 4, 2024, as reported by the Issuer in Exhibit 99.1 to its Form 6-K filed with the Securities and Exchange Commission on December 6, 2024.
As of September 30, 2024, the Date of Event Which Requires Filing of this Statement of this Schedule 13G, the Reporting Person may have been deemed the beneficial owner of, and had sole voting and dispositive power over, 2,302,073 shares of Subordinate Voting Shares, which represent approximately 6.7% of the shares of Subordinate Voting Shares outstanding. This percentage is based on 34,483,199 shares of Subordinate Voting Shares outstanding as of September 4, 2024, as reported by the Issuer in Exhibit 99.2 to its Form 6-K filed with the Securities and Exchange Commission on September 6, 2024.

**(b) Percent of class:**

See the response(s) to Item 11 on the attached cover page and Item 4(a).

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See the response(s) to Item 5 on the attached cover page and Item 4(a).

**(ii) Shared power to vote or to direct the vote:**

See the response(s) to Item 6 on the attached cover page and Item 4(a).

**(iii) Sole power to dispose or to direct the disposition of:**

See the response(s) to Item 7 on the attached cover page and Item 4(a).

**(iv) Shared power to dispose or to direct the disposition of:**

See the response(s) to Item 8 on the attached cover page and Item 4(a).

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Turtle Creek holds the shares of Subordinate Voting Shares reported herein for the benefit of unit holders of mutual funds managed by Turtle Creek, none of whom is known to Turtle Creek to have an interest of more than 5 percent of the class.

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Turtle Creek Asset Management Inc.**

**Date:** 06/05/2025

**By:** /s/ Meaghan Einav

**Name & Title:** Meaghan Einav, Chief Compliance Officer