13F-HR 1 d13fhr.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2008 Check here if Amendment [_]; Amendment Number: _____ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Burgundy Asset Management Ltd Address: 181 Bay Street, Suite 4510 Bay Wellington Tower Toronto, Ontario M5J 2T3 Form 13F File Number: 28-11129 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: James Meadows Title: Vice President Phone: (416) 868-3570 Signature, Place, and Date of Signing: /s/ James Meadows Toronto, Ontario Canada February 12, 2009 ------------------------ ------------------------ ------------------------ [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28-_________________ ________________________________ [Repeat as necessary.] FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: NONE Form 13F Information Table Entry Total: 101 Form 13F Information Table Value Total: 2,210,919 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE FORM 13F INFORMATION TABLE

VOTING AUTHORITY ------------------- TITLE SHRS OF VALUE OR PRN SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER CLASS CUSIP (x1000) AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ----- ----------- ------- ------- --- ---- ---------- -------- ------- ------ ---- 3M Co. COM 88579Y 10 1 48945 850620 SH SOLE 850620 Aflac Inc. COM 001055 10 2 32760 714669 SH SOLE 714669 Air Products & Chemicals Inc. COM 009158 10 6 13744 273399 SH SOLE 273399 Altria Group Inc. COM 02209S 10 3 19355 1285208 SH SOLE 1285208 AmerisourceBergen Corp COM 03073E 10 5 37574 1053671 SH SOLE 1053671 Ares Capital Corp. COM 04010L 10 3 16721 2641604 SH SOLE 2641604 Arthur J. Gallagher & Co. COM 363576 10 9 11181 431528 SH SOLE 431528 Asbury Automotive Group Inc. COM 043436 10 4 7496 1640211 SH SOLE 1640211 Automatic Data Processing, Inc. COM 053015 10 3 18477 469682 SH SOLE 469682 AutoNation Inc. COM 05329W 10 2 1638 165787 SH SOLE 165787 Bank of Montreal COM 063671 10 1 724 28200 SH SOLE 28200 Bank of Nova Scotia COM 064149 10 7 60379 2219810 SH SOLE 2219810 Bare Escentuals Inc. COM 067511 10 5 16447 3144798 SH SOLE 3144798 Becton, Dickinson and Co. COM 075887 10 9 23720 346841 SH SOLE 346841 Berkshire Hathaway Inc. CL A 084670 10 8 28787 298 SH SOLE 298 Berkshire Hathaway Inc. CL B 084670 20 7 1118 348 SH SOLE 348 Brown & Brown Inc. COM 115236 10 1 31432 1503940 SH SOLE 1503940 Calamos Asset Management Inc. COM 12811R 10 4 3087 417179 SH SOLE 417179 Canadian Natural Resources Ltd. COM 136385 10 1 40604 1015614 SH SOLE 1015614 Citigroup Inc. COM 172967 10 1 671 100000 SH SOLE 100000 Cohen & Steers Inc. COM 19247A 10 0 12432 1131253 SH SOLE 1131253 Corel Corp. COM 21869X 10 3 2271 832010 SH SOLE 832010 Corporate Executive Board Co. COM 21988R 10 2 25045 1135319 SH SOLE 1135319 Corus Entertainment Inc. CL B 220874 10 1 71277 6214230 SH SOLE 6214230 DealerTrack Holdings Inc. COM 242309 10 2 22466 1889503 SH SOLE 1889503 Dentsply International Inc. COM 249030 10 7 21548 763023 SH SOLE 763023 Dollar Financial Corp. COM 256664 10 3 12879 1250409 SH SOLE 1250409 Double-Take Software Inc. COM 258598 10 1 13016 1451044 SH SOLE 1451044 Eaton Vance Floating-Rate Income Trust COM 278279 10 4 401 50000 SH SOLE 50000 EchoStar Corp. CL A 278768 10 6 15034 1011042 SH SOLE 1011042 Emerson Electric Co. COM 291011 10 4 25867 706568 SH SOLE 706568 Enbridge Inc. COM 29250N 10 5 184 5660 SH SOLE 5660 EnCana Corp. COM 292505 10 4 90838 1954345 SH SOLE 1954345 Equifax Inc. COM 294429 10 5 53626 2022110 SH SOLE 2022110 Expedia Inc. COM 30212P 10 5 23213 2817153 SH SOLE 2817153 Exxon Mobil Corp. COM 30231G 10 2 25899 324426 SH SOLE 324426 Fairfax Financial Holdings Ltd. SUB VTG 303901 10 2 2821 9000 SH SOLE 9000 FirstService Corp. SUB VTG 33761N 10 9 23190 1763483 SH SOLE 1763483 Franklin Resources, Inc. COM 354613 10 1 345 5412 SH SOLE 5412 Gladstone Investment Corp. COM 376546 10 7 9485 1931870 SH SOLE 1931870 Graco Inc. COM 384109 10 4 24381 1027427 SH SOLE 1027427 H&R Block Inc. COM 093671 10 5 45008 1980997 SH SOLE 1980997 HCC Insurance Holdings Inc. COM 404132 10 2 37824 1413980 SH SOLE 1413980 IAC/InterActiveCorp COM 44919P 50 8 1166 74122 SH SOLE 74122 Infogroup Inc. COM 45670G 10 8 10671 2251208 SH SOLE 2251208 Intel Corp. COM 458140 10 0 20930 1427695 SH SOLE 1427695 Interactive Data Corp. COM 45840J 10 7 36416 1476720 SH SOLE 1476720 International Speedway Corp. CL A 460335 20 1 20522 714295 SH SOLE 714295 Interval Leisure Group Inc. COM 46113M 10 8 201 37214 SH SOLE 37214 IVCI Corp CL B 450704 10 1 - 10000 SH SOLE 10000 Johnson & Johnson COM 478160 10 4 43656 729675 SH SOLE 729675 Jupitermedia Corp. COM 48207D 10 1 1019 2754676 SH SOLE 2754676 Kayne Anderson Energy Development Co. COM 48660Q 10 2 6647 885090 SH SOLE 885090 Laboratory Corporation of America Holdings COM 50540R 40 9 4714 73192 SH SOLE 73192 Lender Processing Services Inc. COM 52602E 10 2 30340 1030229 SH SOLE 1030229 Liberty Media Corp. - Interactive CL A 53071M 10 4 687 220039 SH SOLE 220039 Lockheed Martin Corp. COM 539830 10 9 24419 290427 SH SOLE 290427 Lorillard Inc. COM 544147 10 1 47356 840383 SH SOLE 840383 M&T Bank Corp. COM 55261F 10 4 281 4888 SH SOLE 4888 Manulife Financial Corp. COM 56501R 10 6 133493 7838711 SH SOLE 7838711 MarketAxess Holdings Inc. COM 57060D 10 8 22535 2761623 SH SOLE 2761623 McDonald's Corp. COM 580135 10 1 27405 440669 SH SOLE 440669 Merck & Co., Inc. COM 589331 10 7 1388 45673 SH SOLE 45673 Microsoft Corp. COM 594918 10 4 44456 2286822 SH SOLE 2286822 Moody's Corp. COM 615369 10 5 15233 758222 SH SOLE 758222 Move Inc. COM 62458M 10 8 11846 7403869 SH SOLE 7403869 NGP Capital Resources Co. COM 62912R 10 7 8684 1037456 SH SOLE 1037456 Nike, Inc. CL B 654106 10 3 16282 319258 SH SOLE 319258 Nutraceutical International Corp. COM 67060Y 10 1 6441 837571 SH SOLE 837571 Omnicom Group Inc. COM 681919 10 6 44025 1635386 SH SOLE 1635386 Oracle Corporation COM 68389X 10 5 41848 2360307 SH SOLE 2360307 Patterson-UTI Energy Inc. COM 703481 10 1 2900 251936 SH SOLE 251936 Pepsico Incorporated COM 713448 10 8 21301 388919 SH SOLE 388919 Petro-Canada COM 71644E 10 2 45109 2060696 SH SOLE 2060696 Pfizer Inc. COM 717081 10 3 354 20000 SH SOLE 20000 Philip Morris International Inc. COM 718172 10 9 21768 500307 SH SOLE 500307 Phillips-Van Heusen Corp. COM 718592 10 8 15822 786007 SH SOLE 786007 Prestige Brands Holdings Inc. COM 74112D 10 1 9740 923248 SH SOLE 923248 Procter & Gamble Co. COM 742718 10 9 20165 326192 SH SOLE 326192 Quest Diagnostics Inc. COM 74834L 10 0 613 11800 SH SOLE 11800 Regis Corp. COM 758932 10 7 7153 492322 SH SOLE 492322 Rogers Communications Inc. CL B 775109 20 0 51113 1699241 SH SOLE 1699241 Royal Bank of Canada COM 780087 10 2 1533 51700 SH SOLE 51700 Sherwin-Williams Co. COM 824348 10 6 370 6200 SH SOLE 6200 Skechers USA Inc. CL A 830566 10 5 22211 1732550 SH SOLE 1732550 Starwood Hotels & Resorts Worldwide Inc. COM 85590A 40 1 12724 710816 SH SOLE 710816 Sun Life Financial Inc. COM 866796 10 5 67048 2897481 SH SOLE 2897481 TCF Financial Corp. COM 872275 10 2 14817 1084684 SH SOLE 1084684 TFS Financial Corp. COM 87240R 10 7 26176 2029166 SH SOLE 2029166 The McGraw-Hill Companies, Inc. COM 580645 10 9 36813 1587444 SH SOLE 1587444 Thomson Reuters Corp. COM 884903 10 5 4197 143972 SH SOLE 143972 TICC Capital Corp. COM 87244T 10 9 237 62300 SH SOLE 62300 Tim Hortons Inc. COM 88706M 10 3 88528 3069635 SH SOLE 3069635 Time Warner Inc. COM 887317 10 5 205 20400 SH SOLE 20400 Toronto-Dominion Bank COM 891160 50 9 74694 2082355 SH SOLE 2082355 Ultra Petroleum Corp. COM 903914 10 9 12793 370697 SH SOLE 370697 United Technologies Corp. COM 913017 10 9 30126 562056 SH SOLE 562056 US Gold Corp. COM 912023 20 7 - 9100 SH SOLE 9100 Viacom Inc. CL A 92553P 10 2 472 23458 SH SOLE 23458 Wal-Mart Stores Inc. COM 931142 10 3 280 5000 SH SOLE 5000 Walt Disney Co. COM 254687 10 6 25081 1105364 SH SOLE 1105364 Total 2210919 Count 101