-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IIZqTm0kZ06map8PU8p+N2Z9LjbG6nRu8x93BGqr3j34+WRgKWuWcX5jCfDVUu0w
 AsVlx+HhccQtQpuQ+6AquA==

<SEC-DOCUMENT>0001509220-11-000001.txt : 20110118
<SEC-HEADER>0001509220-11-000001.hdr.sgml : 20110117
<ACCEPTANCE-DATETIME>20110118152929
ACCESSION NUMBER:		0001509220-11-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(1)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20110118
DATE AS OF CHANGE:		20110118
EFFECTIVENESS DATE:		20110118

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Turtle Creek Equity Fund
		CENTRAL INDEX KEY:			0001509220
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-153928
		FILM NUMBER:		11533172

	BUSINESS ADDRESS:	
		STREET 1:		4 KING STREET WEST, SUITE 1300
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 1B6
		BUSINESS PHONE:		416-363-7400

	MAIL ADDRESS:	
		STREET 1:		4 KING STREET WEST, SUITE 1300
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 1B6
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001509220</cik>
        <entityName>Turtle Creek Equity Fund</entityName>
        <issuerAddress>
            <street1>4 KING STREET WEST, SUITE 1300</street1>
            <city>TORONTO</city>
            <stateOrCountry>A6</stateOrCountry>
            <stateOrCountryDescription>ONTARIO, CANADA</stateOrCountryDescription>
            <zipCode>M5H 1B6</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>416-363-7400</issuerPhoneNumber>
        <jurisdictionOfInc>ONTARIO, CANADA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Business Trust</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeffrey</firstName>
                <lastName>Cole</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4 KING STREET WEST, SUITE 1300</street1>
                <city>TORONTO</city>
                <stateOrCountry>A6</stateOrCountry>
                <stateOrCountryDescription>ONTARIO, CANADA</stateOrCountryDescription>
                <zipCode>M5H 1B6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director and Officer of Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <lastName>Brenton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4 KING STREET WEST, SUITE 1300</street1>
                <city>TORONTO</city>
                <stateOrCountry>A6</stateOrCountry>
                <stateOrCountryDescription>ONTARIO, CANADA</stateOrCountryDescription>
                <zipCode>M5H 1B6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director and Officer of Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeffrey</firstName>
                <lastName>Hebel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4 KING STREET WEST, SUITE 1300</street1>
                <city>TORONTO</city>
                <stateOrCountry>A6</stateOrCountry>
                <stateOrCountryDescription>ONTARIO, CANADA</stateOrCountryDescription>
                <zipCode>M5H 1B6</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director and Officer of Manager</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-07-31</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Scotia Capital Inc.</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Paul White</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>350 Albert Street, Suite 2100</street1>
                    <city>Ottawa</city>
                    <stateOrCountry>A6</stateOrCountry>
                    <stateOrCountryDescription>ONTARIO, CANADA</stateOrCountryDescription>
                    <zipCode>K1R 1A4</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>1046339</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The manager does receive a management fee based on the valuation of investment.  Registered broker/dealers may receive a trailer fee.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The manager does receive a management fee based on the amount invested.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Turtle Creek Equity Fund</issuerName>
                <signatureName>JEFFREY COLE</signatureName>
                <nameOfSigner>JEFFREY COLE</nameOfSigner>
                <signatureTitle>Managing Partner of the Manager of the Fund</signatureTitle>
                <signatureDate>2011-01-18</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----