Black Creek Investment Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Black Creek Investment Management Inc. reported 24 stock positions worth $2.1 billion. Its top holding was Nice Ltd. - Spon ADR (NICE) at 11.9% of the portfolio, followed by Elanco Animal Health (ELAN, 10.9%) and Hologic (HOLX, 9.3%). Compared with Q4 2024, it opened 2 new positions, sold out of 3, added to 15 and reduced 6. The biggest buy was Booz Allen Hamilton (BAH, shares +87%) and the biggest sale PayPal (PYPL, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001528593
- Portfolio Value
- $2.1B (Q1 2025)
- SEC Filing
- 0001821268-25-000104 ↗ filed May 13, 2025
Holdings Value
Holdings 24 stocks · $2.1B
| NICE Nice Ltd. - Spon ADR | 11.93% | 1,642,518 | $253.2M | Reduce -8.3% |
| ELAN Elanco Animal Health Inc. | 10.91% | 22,042,616 | $231.4M | Add +7.9% |
| HOLX Hologic Inc. | 9.30% | 3,195,385 | $197.4M | Add +37.7% |
| BIDU Baidu Inc. - Spon ADR | 8.95% | 2,062,954 | $189.9M | Reduce -9.8% |
| BAH Booz Allen Hamilton Holdings | 8.89% | 1,803,825 | $188.6M | Add +86.5% |
| NTR Nutrien Ltd. | 8.48% | 3,627,123 | $180.0M | Reduce -25.8% |
| PYPL PayPal Holdings Inc. | 8.38% | 2,724,053 | $177.7M | Reduce -1.9% |
| PSMT Pricesmart Inc. | 7.87% | 1,900,680 | $167.0M | Add +7.1% |
| FCN Fti Consulting Inc. | 6.41% | 829,163 | $136.0M | Add +27.0% |
| FMX Fomento Economico Mex-SP ADR | 4.56% | 991,195 | $96.7M | Reduce -1.3% |
| GRFS Grifols SA-ADR | 4.25% | 12,690,887 | $90.2M | Add +12.8% |
| CDW CDW Corp. | 2.36% | 312,963 | $50.2M | Add +136.6% |
| BF.B Brown-Forman Corp. Class B | 2.07% | 1,296,119 | $44.0M | New |
| ARMK Aramark | 1.12% | 688,817 | $23.8M | Add +11.5% |
| GOOGL Alphabet Inc. Class A | 0.91% | 124,950 | $19.3M | Add +8.9% |
| UBER Uber Technologies Inc. | 0.85% | 246,988 | $18.0M | Add +1.1% |
| FISV Fiserv Inc. | 0.76% | 73,307 | $16.2M | Add +19.4% |
| IBN Icici Bank Ltd.-Spon ADR | 0.73% | 492,789 | $15.5M | Reduce -27.7% |
| COR Cencora Inc. | 0.67% | 50,813 | $14.1M | Add +44.3% |
| FIGS Figs Inc. Class A | 0.26% | 1,192,995 | $5.5M | Add +1.5% |
| BWA Borgwarner Inc. | 0.10% | 76,000 | $2.2M | Add +26.7% |
| ARCO Arcos Dorados Holdings Inc. Class A | 0.10% | 270,000 | $2.2M | Add +46.0% |
| LRCX Lam Research Corp. | 0.09% | 25,781 | $1.9M | New |
| CRTO Criteo SA-Spon | 0.05% | 32,233 | $1.1M | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $10.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VAREX IMAGING CORPORATIO (VREX 4 06/01/25) | NOTE 4.000% 6/0 · principal | 9,775,000 | $9.7M | No change |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 100,000 | $246K | No change |
Total filed on the 13F, all lines: $2.1B.
Portfolio Sells Q4 2024 → Q1 2025
| PYPL PayPal Holdings Inc. | Reduce -1.9% | 8.38% | −2.89 |
| NICE Nice Ltd. - Spon ADR | Reduce -8.3% | 11.93% | −2.52 |
| NTR Nutrien Ltd. | Reduce -25.8% | 8.48% | −1.91 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.50 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.35 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -27.7% | 0.73% | −0.24 |
| BIDU Baidu Inc. - Spon ADR | Reduce -9.8% | 8.95% | −0.22 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.07 |
| FMX Fomento Economico Mex-SP ADR | Reduce -1.3% | 4.56% | +0.48 |
Portfolio Buys Q4 2024 → Q1 2025
| BAH Booz Allen Hamilton Holdings | Add +86.5% | 8.89% | +2.97 |
| BF.B Brown-Forman Corp. Class B | New | 2.07% | +2.07 |
| HOLX Hologic Inc. | Add +37.7% | 9.30% | +1.35 |
| CDW CDW Corp. | Add +136.6% | 2.36% | +1.27 |
| FCN Fti Consulting Inc. | Add +27.0% | 6.41% | +0.48 |
| COR Cencora Inc. | Add +44.3% | 0.67% | +0.29 |
| GRFS Grifols SA-ADR | Add +12.8% | 4.25% | +0.27 |
| FISV Fiserv Inc. | Add +19.4% | 0.76% | +0.16 |
| UBER Uber Technologies Inc. | Add +1.1% | 0.85% | +0.15 |
| PSMT Pricesmart Inc. | Add +7.1% | 7.87% | +0.09 |
| LRCX Lam Research Corp. | New | 0.09% | +0.09 |
| ARCO Arcos Dorados Holdings Inc. Class A | Add +46.0% | 0.10% | +0.04 |
| ARMK Aramark | Add +11.5% | 1.12% | +0.03 |
| BWA Borgwarner Inc. | Add +26.7% | 0.10% | +0.01 |
| FIGS Figs Inc. Class A | Add +1.5% | 0.26% | −0.09 |
| GOOGL Alphabet Inc. Class A | Add +8.9% | 0.91% | −0.12 |
| ELAN Elanco Animal Health Inc. | Add +7.9% | 10.91% | −0.85 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 27 | $1.8B | ELAN, FCN, PSMT, EXP, BAH |
| Q1 2026 | 25 | $1.9B | ELAN, BAH, FCN, PSMT, EXP |
| Q4 2025 | 27 | $2.0B | ELAN, BAH, PSMT, PYPL, FCN |
| Q3 2025 | 28 | $2.1B | HOLX, ELAN, BAH, PSMT, PYPL |
| Q2 2025 | 26 | $2.2B | ELAN, HOLX, NICE, BAH, PSMT |
| Q1 2025 | 24 | $2.1B | NICE, ELAN, HOLX, BIDU, BAH |
| Q4 2024 | 25 | $2.1B | NICE, ELAN, PYPL, NTR, BIDU |
| Q3 2024 | 27 | $2.8B | NICE, BIDU, PYPL, ELAN, NTR |
| Q2 2024 | 32 | $2.7B | IPG, NTR, ELAN, BIDU, PYPL |
| Q1 2024 | 35 | $3.3B | BIDU, IPG, ELAN, NTR, PYPL |