<SEC-DOCUMENT>0000905148-25-000673.txt : 20250214
<SEC-HEADER>0000905148-25-000673.hdr.sgml : 20250214
<ACCEPTANCE-DATETIME>20250214164646
ACCESSION NUMBER:		0000905148-25-000673
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250214
DATE AS OF CHANGE:		20250214

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BREAD FINANCIAL HOLDINGS, INC.
		CENTRAL INDEX KEY:			0001101215
		STANDARD INDUSTRIAL CLASSIFICATION:	PERSONAL CREDIT INSTITUTIONS [6141]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				311429215
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-77892
		FILM NUMBER:		25630204

	BUSINESS ADDRESS:	
		STREET 1:		3095 LOYALTY CIRCLE
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43219
		BUSINESS PHONE:		6147294000

	MAIL ADDRESS:	
		STREET 1:		3095 LOYALTY CIRCLE
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43219

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE DATA SYSTEMS CORP
		DATE OF NAME CHANGE:	19991217

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Turtle Creek Asset Management Inc.
		CENTRAL INDEX KEY:			0001484148
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Z4
		FISCAL YEAR END:			1109

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<previousAccessionNumber>0001140361-23-006942</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001484148</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>4</amendmentNo>
<securitiesClassTitle>Common Stock</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001101215</issuerCik>
<issuerName>BREAD FINANCIAL HOLDINGS, INC.</issuerName>
<issuerCusip>018581108</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>3095 Loyalty Circle</com:street1>
<com:city>Columbus</com:city>
<com:stateOrCountry>OH</com:stateOrCountry>
<com:zipCode>43219</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Turtle Creek Asset Management Inc.</reportingPersonName>
<citizenshipOrOrganization>Z4</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>3740994</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>3740994</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>3740994</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>7.5</classPercent>
<typeOfReportingPerson>FI</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>BREAD FINANCIAL HOLDINGS, INC.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>3095 Loyalty Circle, Columbus, Ohio, 43219</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>This statement on Schedule 13G is being filed by Turtle Creek Asset Management Inc. ("Turtle Creek").</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>Scotia Plaza, 40 King Street West, Suite 5100, Toronto, Ontario M5H 3Y2 Canada</principalBusinessOfficeOrResidenceAddress>
<citizenship>Canada</citizenship>
</item2>
<item3>
<notApplicableFlag>N</notApplicableFlag>
<typeOfPersonFiling>FI</typeOfPersonFiling>
<otherTypeOfPersonFiling>Investment advisor</otherTypeOfPersonFiling>
</item3>
<item4>
<amountBeneficiallyOwned>See the response(s) to Item 9 on the attached cover page.</amountBeneficiallyOwned>
<classPercent>7.5</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>See the response(s) to Item 5 on the attached cover page.</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>See the response(s) to Item 6 on the attached cover page.</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>See the response(s) to Item 7 on the attached cover page.</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>See the response(s) to Item 8 on the attached cover page.</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>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.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<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.&#13;
&#13;
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.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>Turtle Creek Asset Management Inc.</reportingPersonName>
<signatureDetails>
<signature>/s/ Meaghan Einav</signature>
<title>Meaghan Einav, Chief Compliance Officer</title>
<date>02/14/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
