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: September 30, 2009 ------------------ 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, Brookfield Place 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: Franca DeBartolo Title: Vice President Phone: (416) 640-2678 Signature, Place, and Date of Signing: /s/ Franca DeBartolo Toronto, Ontario Canada November 11, 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: 103 Form 13F Information Table Value Total: 2,838,504 ---------- (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

VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (x1000) PRN AMT PRN CALL DISCRETION MANAGERS VOTING AUTHORITY SOLE SHARED NONE 3M Co.............................. COM 88579Y 10 1 17371 235373 SH SOLE 235373 Abbott Laboratories................ COM 002824 10 0 28088 567784 SH SOLE 567784 Altria Group Inc................... COM 02209S 10 3 24242 1361154 SH SOLE 1361154 AmerisourceBergen Corp............. COM 3073E 10 8 45420 2029481 SH SOLE 2029481 Arbitron Inc....................... COM 03875Q 10 8 2788 134316 SH SOLE 134316 Ares Capital Corp.................. COM 04010L 10 3 26845 2436028 SH SOLE 2436028 Arthur J. Gallagher & Co........... COM 363576 10 9 7817 320769 SH SOLE 320769 Automatic Data Processing Inc...... COM 053015 10 3 15145 385369 SH SOLE 385369 Bank of Montreal................... COM 063671 10 1 507 10000 SH SOLE 10000 Bank of Nova Scotia................ COM 064149 10 7 105460 2306496 SH SOLE 2306496 Bare Escentuals Inc................ COM 067511 10 5 32900 2767014 SH SOLE 2767014 Baxter International Inc........... COM 071813 10 9 15905 278989 SH SOLE 278989 Becton, Dickinson and Co........... COM 075887 10 9 44445 637210 SH SOLE 637210 Berkshire Hathaway Inc............. CL A 084670 10 8 28381 281 SH SOLE 281 Berkshire Hathaway Inc............. CL B 084670 20 7 1093 329 SH SOLE 329 Brown & Brown Inc.................. COM 115236 10 1 23970 1251033 SH SOLE 1251033 Canadian National Railway Co....... COM 136375 10 2 30124 610600 SH SOLE 610600 Canadian Natural Resources Ltd..... COM 136385 10 1 84254 1245542 SH SOLE 1245542 Citigroup Inc...................... COM 172967 10 1 484 100000 SH SOLE 100000 Copart, Inc........................ COM 217204 10 6 9940 299296 SH SOLE 299296 Corel Corp......................... COM 21869X 10 3 2134 755410 SH SOLE 755410 Corporate Executive Board Co....... COM 21988R 10 2 27339 1097947 SH SOLE 1097947 Corus Entertainment Inc............ COM CL B NON VTG 220874 10 1 96792 5678032 SH SOLE 5678032 CoStar Group Inc................... COM 22160N 10 9 6216 150792 SH SOLE 150792 DealerTrack Holdings Inc........... COM 242309 10 2 15555 822594 SH SOLE 822594 Deckers Outdoor Corp............... COM 243537 10 7 23857 281165 SH SOLE 281165 Dentsply International Inc......... COM 249030 10 7 21669 627373 SH SOLE 627373 Dollar Financial Corp.............. COM 256664 10 3 18426 1150206 SH SOLE 1150206 Double-Take Software Inc........... COM 258598 10 1 21533 2113149 SH SOLE 2113149 Dun & Bradstreet Corp.............. COM 26483E 10 4 2051 27225 SH SOLE 27225 Eaton Vance Credit Opportunities Fund.............................. COM 278271 10 1 99 11900 SH SOLE 11900 Eaton Vance Floating-Rate Income Trust............................. COM 278279 10 4 2548 199851 SH SOLE 199851 EchoStar Corp...................... CL A 278768 10 6 24003 1300260 SH SOLE 1300260 Emerson Electric Co................ COM 291011 10 4 17860 445615 SH SOLE 445615 Enbridge Inc....................... COM 29250N 10 5 220 5660 SH SOLE 5660 EnCana Corp........................ COM 292505 10 4 118362 2040449 SH SOLE 2040449 Equifax Inc........................ COM 294429 10 5 65305 2241077 SH SOLE 2241077 Expedia Inc........................ COM 30212P 10 5 38766 1618625 SH SOLE 1618625 Exxon Mobil Corp................... COM 30231G 10 2 27064 394459 SH SOLE 394459 Fairfax Financial Holdings Ltd..... SUB VTG 303901 10 2 2828 7600 SH SOLE 7600 FirstService Corp.................. SUB VTG 33761N 10 9 31754 1643561 SH SOLE 1643561 General Electric Co................ COM 369604 10 3 821 50000 SH SOLE 50000 Gladstone Investment Corp.......... COM 376546 10 7 9029 1861666 SH SOLE 1861666 Graco Inc.......................... COM 384109 10 4 15165 544134 SH SOLE 544134 H&R Block Inc...................... COM 093671 10 5 52604 2862047 SH SOLE 2862047 HCC Insurance Holdings Inc......... COM 404132 10 2 21409 782782 SH SOLE 782782 Hilltop Holdings Inc............... COM 432748 10 1 11796 962186 SH SOLE 962186 IAC/InterActiveCorp................ COM 44919P 50 8 22442 1111551 SH SOLE 1111551 Infogroup Inc...................... COM 45670G 10 8 9643 1375562 SH SOLE 1375562 Interactive Data Corp.............. COM 45840J 10 7 34853 1329772 SH SOLE 1329772 iShares iBoxx High Yield Corporate Bond Fund......................... COM 464288 51 3 2463 28526 SH SOLE 28526 IVCI CORP.......................... CL B 450704 10 1 0 10000 SH SOLE 10000 Johnson & Johnson Inc.............. COM 478160 10 4 51094 839127 SH SOLE 839127 Kayne Anderson Energy Development Co................................ COM 48660Q 10 2 10630 803482 SH SOLE 803482 Kraft Foods Inc.................... COM 50075N 10 4 394 15000 SH SOLE 15000 Laboratory Corporation of America Holdings.......................... COM 50540R 40 9 3844 58509 SH SOLE 58509 Lender Processing Services Inc..... COM 52602E 10 6 32797 859235 SH SOLE 859235 Lockheed Martin Corp............... COM 539830 10 9 26573 340331 SH SOLE 340331 Lorillard Inc...................... COM 544147 10 1 56767 764026 SH SOLE 764026 M&T Bank Corp...................... COM 55261F 10 4 230 3691 SH SOLE 3691 MarketAxess Holdings Inc........... COM 57060D 10 8 30534 2533912 SH SOLE 2533912 McCormick & Co., Inc............... COM 579780 20 6 13599 400689 SH SOLE 400689 McDonald's Corp.................... COM 580135 10 1 25808 452218 SH SOLE 452218 Merck & Co., Inc................... COM 589331 10 7 1291 40827 SH SOLE 40827 Microsoft Corp..................... COM 594918 10 4 53310 2059111 SH SOLE 2059111 Monsanto Co........................ COM 61166W 10 1 12610 162924 SH SOLE 162924 Moody's Corp....................... COM 615369 10 5 12686 620056 SH SOLE 620056 Move Inc........................... COM 62458M 10 8 14835 5494624 SH SOLE 5494624 MSCI Inc........................... COM 55354G 10 0 9315 314478 SH SOLE 314478 NGP Capital Resources Co........... COM 62912R 10 7 6846 943024 SH SOLE 943024 Nike Inc........................... CL B 654106 10 3 18123 280101 SH SOLE 280101 Nutraceutical International Corp... COM 67060Y 10 1 8156 723659 SH SOLE 723659 Omnicom Group Inc.................. COM 681919 10 6 56518 1530005 SH SOLE 1530005 OptiSolar Inc. Junior Preferred A-7 Stock Purchase Agreement...... COM 996254 37 1 99 36000 SH SOLE 36000 Oracle Corp........................ COM 68389X 10 5 44285 2125011 SH SOLE 2125011 Patterson-UTI Energy Inc........... COM 703481 10 1 3009 199279 SH SOLE 199279 PepsiCo Inc........................ COM 713448 10 8 39167 667692 SH SOLE 667692 Pfizer Inc......................... COM 717081 10 3 331 20000 SH SOLE 20000 Pharmaceutical Product Development, Inc.................. COM 717124 10 1 7793 355180 SH SOLE 355180 Philip Morris International Inc.... COM 718172 10 9 28361 581888 SH SOLE 581888 Prestige Brands Holdings Inc....... COM 74112D 10 1 6092 865290 SH SOLE 865290 Procter & Gamble Co................ COM 742718 10 9 31287 540177 SH SOLE 540177 Raymond James Financial, Inc....... COM 754730 10 9 9044 388484 SH SOLE 388484 Riskmetrics Group Inc.............. COM 767735 10 3 15043 1028907 SH SOLE 1028907 Ritchie Bros. Auctioneers Inc...... COM 767744 10 5 16844 686409 SH SOLE 686409 Rogers Communications Inc.......... CL B 775109 20 0 54421 1924127 SH SOLE 1924127 Royal Bank of Canada............... COM 780087 10 2 2746 51000 SH SOLE 51000 Solera Holdings Inc................ COM 83421A 10 4 12466 400703 SH SOLE 400703 SPDR Barclays Capital High Yield Bond ETF.......................... COM 78464A 41 7 2503 65025 SH SOLE 65025 Sun Life Financial Inc............. COM 866796 10 5 116429 3709156 SH SOLE 3709156 Suncor Energy Inc.................. COM 867224 10 7 108707 3106648 SH SOLE 3106648 TFS Financial Corp................. COM 87240R 10 7 25831 2170661 SH SOLE 2170661 Thomson Reuters Corp............... COM 884903 10 5 168522 5017273 SH SOLE 5017273 Tim Hortons Inc.................... COM 88706M 10 3 124053 4355823 SH SOLE 4355823 Toronto-Dominion Bank.............. COM 891160 50 9 139333 2153826 SH SOLE 2153826 Ultra Petroleum Corp............... COM 903914 10 9 23630 482644 SH SOLE 482644 United Technologies Corp........... COM 913017 10 9 36997 607213 SH SOLE 607213 US Gold Corp....................... COM 912023 20 7 29 10000 SH SOLE 10000 Viacom Inc......................... CL A 92553P 10 2 318 10782 SH SOLE 10782 Wal-Mart Stores Inc................ COM 931142 10 3 540 11000 SH SOLE 11000 Walt Disney Co..................... COM 254687 10 6 16352 595489 SH SOLE 595489 Washington Post Co................. CL B 939640 10 8 26220 56017 SH SOLE 56017 Western Union Co................... COM 959802 10 9 42303 2235870 SH SOLE 2235870 TOTAL 2838504 COUNT 103