Turtle Creek holds 3.2% stake in Bread Financial

Turtle Creek Asset Management Inc. filed an amended Schedule 13G reporting its beneficial ownership of common stock of Bread Financial Holdings, Inc. as of June 30, 2026.

Rhea-AI Filing Summary

Turtle Creek Asset Management Inc. filed an amended Schedule 13G reporting its beneficial ownership of common stock of Bread Financial Holdings, Inc. as of June 30, 2026. Turtle Creek reports beneficial ownership of 1,310,339 shares, representing 3.2% of the outstanding common stock. It has sole voting power and sole dispositive power over all reported shares, with no shared voting or dispositive power. The shares are held for unit holders of mutual funds managed by Turtle Creek, and no underlying investor is known to hold more than 5% of the class.

Key Figures

Shares beneficially owned: 1,310,339 shares Ownership percentage: 3.2% Sole Voting Power: 1,310,339 shares +2 more

5 metrics

Shares beneficially owned 1,310,339 shares Common stock of Bread Financial Holdings, Inc. beneficially owned by Turtle Creek

Ownership percentage 3.2% Percent of Bread Financial common stock class beneficially owned

Sole Voting Power 1,310,339 shares Shares over which Turtle Creek has sole power to vote

Sole Dispositive Power 1,310,339 shares Shares over which Turtle Creek has sole power to dispose

Reporting date reference 06/30/2026 Date associated with the reported ownership figures

Key Terms

Schedule 13G, beneficially owned, Sole Voting Power, dispositive power, +1 more

5 terms

Schedule 13G regulatory

"I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Amount beneficially owned: See the response(s) to Item 9 on the attached cover page."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"Sole Voting Power 1,310,339.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

dispositive power financial

"Sole Dispositive Power 1,310,339.00 8 | Shared Dispositive Power 0.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

investment advisor financial

"CUSIP No.: 018581108 | Investment advisor"

An investment advisor is a person or firm that provides personalized guidance on buying, selling and managing investments and often oversees client portfolios for a fee. For investors this matters because the advisor shapes risk, costs and long-term returns, and is typically required by law to act in the client’s best interests — think of them as a financial coach or GPS that helps navigate choices and avoid costly detours.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Bread Financial (BFH) does Turtle Creek Asset Management own?

Turtle Creek Asset Management reports beneficial ownership of 3.2% of Bread Financial Holdings, Inc. common stock, based on 1,310,339 shares held as of June 30, 2026, with sole voting and dispositive power over all such shares.

How many Bread Financial (BFH) shares are reported by Turtle Creek on this Schedule 13G/A?

Turtle Creek Asset Management reports beneficial ownership of 1,310,339 shares of Bread Financial Holdings, Inc. common stock. These shares represent 3.2% of the class and are held with sole voting and sole dispositive power.

Does Turtle Creek share voting or dispositive power over Bread Financial (BFH) shares?

No. Turtle Creek Asset Management reports sole voting power and sole dispositive power over all 1,310,339 shares of Bread Financial common stock, with no shared voting or dispositive power reported.

On whose behalf does Turtle Creek hold its Bread Financial (BFH) position?

Turtle Creek holds the reported 1,310,339 shares of Bread Financial common stock for the benefit of unit holders of mutual funds it manages, and states that no such investor is known to hold more than 5% of the class.

What is Turtle Creek Asset Management’s role regarding Bread Financial (BFH) shares?

Turtle Creek Asset Management is identified as an investment advisor that beneficially owns and manages 1,310,339 shares of Bread Financial common stock, with sole power to vote and dispose of these shares on behalf of its mutual fund clients.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 04:18 PM Accepted by SEC EDGAR 08/14/2026 - 04:10 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

BREAD FINANCIAL HOLDINGS, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

018581108

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

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

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 018581108

1

Names of Reporting Persons

Turtle Creek Asset Management Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,310,339.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,310,339.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,310,339.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.2 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BREAD FINANCIAL HOLDINGS, INC.
(b)	Address of issuer's principal executive offices: 3095 Loyalty Circle, Columbus, Ohio, 43219
Item 2.
(a)	Name of person filing: This statement on Schedule 13G is being filed by Turtle Creek Asset Management Inc. ("Turtle Creek").
(b)	Address or principal business office or, if none, residence: Scotia Plaza, 40 King Street West, Suite 5100, Toronto, Ontario M5H 3Y2 Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 018581108
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).
	Investment advisor
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page.
(b)	Percent of class: See the response(s) to Item 11 on the attached cover page.
(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.
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page.
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page.
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Turtle Creek holds the shares of Common Stock 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 Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	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.

Certifications:

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. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to investment fund managers and portfolio managers registered with the Ontario Securities Commission is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Signature:	/s/ Meaghan Einav
Name/Title:	Meaghan Einav, Chief Compliance Officer
Date:	08/14/2026