13F-HR 1 burg_51372.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: March 31, 2006 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, BCE 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: James Meadows Title: Vice President Phone: (416) 868-3570 Signature, Place, and Date of Signing: /s/ James Meadows Toronto, Ontario, Canada May 2, 2006 ___________________ ________________________ _________________ [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: 96 Form 13F Information Table Value Total: 2,386,809 ----------- (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 - MARCH 31, 2006

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 Title of Market Total Investment Other Voting Name of Issuer Class Cusip Value Shares Decision Managers Authority (x$1000) ---------------------------------------------------------------------------------------------------------------------------------- Abercrombie & Fitch Co. CL A 002896 20 7 16050 275300 SH SOLE 275300 ACE Cash Express, Inc. COM 004403 10 1 23404 940300 SH SOLE 940300 Affiliated Computer Services Inc. CL A 008190 10 0 66127 1108400 SH SOLE 1108400 Altria Group Inc. COM 02209S103 62457 881419 SH SOLE 881419 Anheuser-Busch Companies, Incorporated COM 035229 10 3 248 5800 SH SOLE 5800 Apria Healthcare Group Inc. COM 037933 10 8 14038 610900 SH SOLE 610900 Ares Capital Corporation COM 04010L103 14638 852044 SH SOLE 852044 AutoNation Inc. COM 05329W102 4441 206100 SH SOLE 206100 Belo Corp. COM SER A 080555 10 5 2616 131600 SH SOLE 131600 Berkshire Hathaway Inc. CL A 084670 10 8 50415 558 SH SOLE 558 Berkshire Hathaway Inc. CL B 084670 20 7 1096 364 SH SOLE 364 Bioscrip Inc. COM 09069N108 15328 2125920 SH SOLE 2125920 Briggs & Stratton Corporation COM 109043 10 9 31966 903750 SH SOLE 903750 CBS Corporation COM 124857 10 3 4420 183400 SH SOLE 183400 Cardinal Health Inc. COM 14149Y108 70850 950745 SH SOLE 950745 Career Education Corporation COM 141665 10 9 2883 76400 SH SOLE 76400 Citigroup Financial Canada Inc. COM 172967 10 1 76 1600 SH SOLE 1600 COMCAST CORP CL A SPL 20030N200 0 2 SH SOLE 2 Conagra Foods Incorporated COM 205887 10 2 43 2000 SH SOLE 2000 Digital Theater Systems Inc. COM 23335C101 29114 1480852 SH SOLE 1480852 Dell Inc. COM 24702R101 90088 3027150 SH SOLE 3027150 Walt Disney Co Common COM 254687 10 6 56 2000 SH SOLE 2000 Discovery Holding CL A 25468Y107 2984 198907 SH SOLE 198907 Dollar Financial Corporation COM 256664 10 3 1618 91000 SH SOLE 91000 Emerson Electric Company COM 291011 10 4 84 1000 SH SOLE 1000 EXPEDIA INC COM 30212P105 1940 95700 SH SOLE 95700 Federated Investors Inc. CL B 314211 10 3 4776 122300 SH SOLE 122300 Fidelity National Title Group, Inc. COM 31620R105 327 14377 SH SOLE 14377 Fidelity National Financial, Inc. COM 316326 10 7 2915 82050 SH SOLE 82050 First Data Corporation COM 319963 10 4 55740 1190512 SH SOLE 1190512 Fossil, Inc. COM 349882 10 0 19526 1050932 SH SOLE 1050932 Furniture Brands International Inc. COM 360921 10 0 15137 617600 SH SOLE 617600 Arthur J. Gallagher & Co. COM 363576 10 9 19806 712200 SH SOLE 712200 Gannett Co., Inc. COM 364730 10 1 19101 318781 SH SOLE 318781 Gladstone Investment Corporation COM 376546 10 7 21205 1404273 SH SOLE 1404273 Global Imaging Systems, Inc. COM 37934A100 44190 1163500 SH SOLE 1163500 Golden West Financial Corporation CL B 381317 10 6 60100 885130 SH SOLE 885130 Greenfield Online Inc COM 395150 10 5 13602 2270800 SH SOLE 2270800 HCC Insurance Holdings Inc. COM 404132 10 2 52045 1495550 SH SOLE 1495550 Hewlett-Packard Company COM 428236 10 3 99 3000 SH SOLE 3000 Home Depot Inc. COM 437076 10 2 65055 1537954 SH SOLE 1537954 Hudson City Bancorp Inc. COM 443683 10 7 96227 7240520 SH SOLE 7240520 IVCI CORP CL B 450704 10 1 0 10000 SH SOLE 10000 infoUSA Inc. COM 456818 30 1 22478 1731724 SH SOLE 1731724 Intel Corporation COM 458140 10 0 39 2000 SH SOLE 2000 Interactive Data Corporation COM 45840J107 54607 2323690 SH SOLE 2323690 Interpublic Group of Companies, Inc. COM 460690 10 0 33976 3554000 SH SOLE 3554000 JPMorgan Chase & Co. COM 46625H100 83 2000 SH SOLE 2000 Jackson Hewitt Tax Service Inc. COM 468202 10 6 44067 1395400 SH SOLE 1395400 Johnson & Johnson COM 478160 10 4 98982 1671426 SH SOLE 1671426 KKR Financial Corp. REIT 482476 30 6 3865 172300 SH SOLE 172300 K-Swiss Inc. CL A 482686 10 2 32926 1092444 SH SOLE 1092444 Kimberly-Clark Corporation COM 494368 10 3 35 600 SH SOLE 600 Laboratory Corporation of America Holdings COM 50540R409 4281 73200 SH SOLE 73200 Liz Claiborne, Inc. COM 539320 10 1 3980 97130 SH SOLE 97130 M&T Bank Corporation COM 55261F104 39574 346714 SH SOLE 346714 Macrovision Corporation COM 555904 10 1 42320 1910600 SH SOLE 1910600 Maidenform Brands, Incorporated COM 560305 10 4 10790 980000 SH SOLE 980000 Marsh & McLennan Companies Inc. COM 571748 10 2 58734 2000480 SH SOLE 2000480 McDonald's Corporation COM 580135 10 1 89194 2595870 SH SOLE 2595870 The McGraw-Hill Companies, Incorporated COM 580645 10 9 288 5000 SH SOLE 5000 Merck & Co., Inc. COM 589331 10 7 2399 68100 SH SOLE 68100 Merit Medical Systems, Inc. COM 589889 10 4 18234 1518233 SH SOLE 1518233 Metrologic Instruments, Inc. COM 591676 10 1 41190 1780800 SH SOLE 1780800 Motorola Inc Common COM 620076 10 9 26149 1141400 SH SOLE 1141400 NBTY Inc. COM 628782 10 4 32240 1431600 SH SOLE 1431600 NU Skin Enterprises Inc. CL A 67018T105 20124 1148000 SH SOLE 1148000 Nutraceutical International Corporation COM 67060Y101 15957 1058890 SH SOLE 1058890 Pfizer Inc. COM 717081 10 3 25244 1013012 SH SOLE 1013012 Price T. Rowe Group COM 74144T108 35 450 SH SOLE 450 Priceline.com Incorporated COM 741503 40 3 5075 204300 SH SOLE 204300 Quest Diagnostics Incorporated COM 74834L100 44934 875910 SH SOLE 875910 RC2 Corporation COM 749388 10 4 45497 1142860 SH SOLE 1142860 RLI Corp. COM 749607 10 7 27504 479995 SH SOLE 479995 Radio One, Inc. CL D 75040P405 26905 3606623 SH SOLE 3606623 Rent-A-Center Inc. COM 76009N100 2259 88375 SH SOLE 88375 Rewards Network Inc. COM 761557 10 7 18692 2348300 SH SOLE 2348300 SK Telekom CO LTD - ADR COM 78440P108 123 5200 SH SOLE 5200 Sabre Holding Corporation CL A 785905 10 0 3532 150100 SH SOLE 150100 Safenet Inc. COM 78645R107 28448 1074320 SH SOLE 1074320 School Specialty Inc. COM 807863 10 5 16714 484454 SH SOLE 484454 E.W. Scripps Company CL A 811054 20 4 30555 683408 SH SOLE 683408 Speedway Motorsports Inc. COM 847788 10 6 22605 591600 SH SOLE 591600 Stratasys, Inc. COM 862685 10 4 20996 712200 SH SOLE 712200 Tempur-Pedic International Inc. COM 88023U101 37771 2669300 SH SOLE 2669300 3M Co. COM 88579Y101 58199 768910 SH SOLE 768910 Time Warner Inc. COM 887317 10 5 53707 3198769 SH SOLE 3198769 UST INC. COM 902911 10 6 166 4000 SH SOLE 4000 United Auto Group Inc. COM 909440 10 9 28332 658890 SH SOLE 658890 VF Corp COM 918204 10 8 2538 44600 SH SOLE 44600 Viacom Inc. CL A 92553P102 5977 154200 SH SOLE 154200 Wal-Mart Stores, Inc. COM 931142 10 3 92378 1955510 SH SOLE 1955510 Wendy's International Inc. COM 950590 10 9 6305 101600 SH SOLE 101600 Wesco Financial Corporation COM 950817 10 6 40 100 SH SOLE 100 Wyeth COM 983024 10 0 50937 1049810 SH SOLE 1049810 Yankee Candle Company Inc. COM 984757 10 4 37998 1388300 SH SOLE 1388300