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: MARCH 31, 2011 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 & CCO Phone: (416) 640-2678 Signature, Place, and Date of Signing: /s/ Franca DeBartolo Toronto, Ontario Canada May 12, 2011 _______________________ ________________________ _______________________ [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: 106 Form 13F Information Table Value Total: 3,836,068 (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

VOTING AUTHORITY TITLE OF SHRS OR INVESTMENT OTHER ------------------- NAME OF CLASS CUSIP VALUE (x1000) PRN AMT SH/PRN PUT/CALL DISCRETION MANAGERS SOLE SHARED NONE ISSUER -------- ----------- ------------- ------- ------ -------- ---------- -------- ------- ------ ---- 3M Co................ COM 88579Y 10 1 34543 369445 SH SOLE 369445 Activision Blizzard Inc................. COM 00507V 10 9 23229 2117514 SH SOLE 2117514 Altria Group Inc................. COM 02209S 10 3 9176 352506 SH SOLE 352506 AmerisourceBergen Corp................ COM 03073E 10 8 44313 1120143 SH SOLE 1120143 Arbitron Inc......... COM 03875Q 10 8 40460 1010745 SH SOLE 1010745 Ares Capital Corp................ COM 04010L 10 3 54979 3253167 SH SOLE 3253167 Arthur J. Gallagher & Co................ COM 363576 10 9 37662 1238463 SH SOLE 1238463 Artio Global Investors Inc....... COM 04315B 10 7 14511 897947 SH SOLE 897947 Bank of Montreal............ COM 063671 10 1 972 15000 SH SOLE 15000 Bank of New York Mellon Corp......... COM 064058 10 0 44489 1489412 SH SOLE 1489412 Bank of Nova Scotia.............. COM 064149 10 7 100340 1639108 SH SOLE 1639108 Barrick Gold Corp................ COM 067901 10 8 3402 65600 SH SOLE 65600 Baxter International Inc................. COM 071813 10 9 56330 1047619 SH SOLE 1047619 BB&T Corp............ COM 054937 10 7 22378 815216 SH SOLE 815216 Becton, Dickinson and Co.............. COM 075887 10 9 31064 390159 SH SOLE 390159 Berkshire Hathaway Inc................. CL A 084670 10 8 31074 248 SH SOLE 248 Berkshire Hathaway Inc................. CL B 084670 70 2 2316 27693 SH SOLE 27693 Bridgepoint Education Inc................. COM 10807M 10 5 16186 946565 SH SOLE 946565 Brown & Brown Inc................. COM 115236 10 1 50224 1946686 SH SOLE 1946686 Canadian National Railway Co.......... COM 136375 10 2 83917 1114838 SH SOLE 1114838 Canadian Natural Resources Ltd................. COM 136385 10 1 109687 2223474 SH SOLE 2223474 Canadian Pacific Railway Ltd......... COM 13645T 10 0 72539 1131149 SH SOLE 1131149 CareFusion Corp................ COM 14170T 10 1 17174 609007 SH SOLE 609007 Cenovus Energy Inc................. COM 15135U 10 9 132638 3365478 SH SOLE 3365478 Cisco Systems Inc................. COM 17275R 10 2 62652 3653175 SH SOLE 3653175 Citigroup Inc........ COM 172967 10 1 1105 250000 SH SOLE 250000 Copart, Inc.......... COM 217204 10 6 25878 597227 SH SOLE 597227 Corporate Executive Board Co.................. COM 21988R 10 2 44534 1103152 SH SOLE 1103152 DealerTrack Holdings Inc........ COM 242309 10 2 30549 1330552 SH SOLE 1330552 Dentsply International Inc................. COM 249030 10 7 533 14400 SH SOLE 14400 Dollar Financial Corp................ COM 256664 10 3 43115 2077816 SH SOLE 2077816 Dun & Bradstreet Corp................ COM 26483E 10 4 1833 22845 SH SOLE 22845 Eaton Vance Floating-Rate Income Trust........ COM 278279 10 4 3984 241623 SH SOLE 241623 EchoStar Corp........ CL A 278768 10 6 73297 1936525 SH SOLE 1936525 Enbridge Inc......... COM 29250N 10 5 346 5660 SH SOLE 5660 EnCana Corp.......... COM 292505 10 4 169814 4921707 SH SOLE 4921707 Equifax Inc.......... COM 294429 10 5 110327 2839817 SH SOLE 2839817 Expedia Inc.......... COM 30212P 10 5 63078 2783661 SH SOLE 2783661 FirstService SUB VTG Corp................ SH 33761N 10 9 39340 1041705 SH SOLE 1041705 FXCM Inc............. CL A 302693 10 6 998 76587 SH SOLE 76587 General Electric Co.................. COM 369604 10 3 1003 50000 SH SOLE 50000 Gilead Sciences, Inc................. COM 375558 10 3 32589 767884 SH SOLE 767884 Gladstone Investment Corp................ COM 376546 10 7 18200 2345400 SH SOLE 2345400 Graco Inc............ COM 384109 10 4 20695 454943 SH SOLE 454943 HCC Insurance Holdings Inc........ COM 404132 10 2 30660 979244 SH SOLE 979244 Hilltop Holdings Inc................. COM 432748 10 1 28040 2792806 SH SOLE 2792806 IAC/ InterActiveCorp..... COM 44919P 50 8 44499 1440556 SH SOLE 1440556 Iconix Brand Group Inc........... COM 451055 10 7 57886 2694886 SH SOLE 2694886 iShares iBoxx High Yield Corporate Bond Fund........... COM 464288 51 3 3585 38981 SH SOLE 38981 Johnson & Johnson Inc................. COM 478160 10 4 49272 831603 SH SOLE 831603 Kayne Anderson Energy Development Co.................. COM 48660Q 10 2 16470 842040 SH SOLE 842040 Kimberly-Clark Corp................ COM 494368 10 3 31775 486828 SH SOLE 486828 Kraft Foods Inc...... COM 50075N 10 4 470 15000 SH SOLE 15000 Laboratory Corporation of America Holdings............ COM 50540R 40 9 4166 45214 SH SOLE 45214 Lender Processing Services Inc........ COM 52602E 10 2 52384 1627326 SH SOLE 1627326 LoJack Corporation......... COM 539451 10 4 313 66794 SH SOLE 66794 Lorillard Inc........ COM 544147 10 1 43094 453578 SH SOLE 453578 M&T Bank Corp................ COM 55261F 10 4 317 3583 SH SOLE 3583 Madison Square Garden Inc.......... COM 55826P 10 0 62176 2303683 SH SOLE 2303683 MarketAxess Holdings Inc........ COM 57060D 10 8 82854 3423733 SH SOLE 3423733 McCormick & Co., Inc................. COM 579780 20 6 24635 515061 SH SOLE 515061 McDonald's Corp................ COM 580135 10 1 1820 23917 SH SOLE 23917 McGraw-Hill Companies, Inc................. COM 580645 10 9 353 8960 SH SOLE 8960 Medtronic Inc........ COM 585055 10 6 34059 865542 SH SOLE 865542 Merck & Co., Inc................. COM 58933Y 10 5 1104 33440 SH SOLE 33440 Microsoft Corp....... COM 594918 10 4 55833 2201601 SH SOLE 2201601 Monsanto Co.......... COM 61166W 10 1 20298 280904 SH SOLE 280904 Moody's Corp......... COM 615369 10 5 4967 146466 SH SOLE 146466 MSCI Inc............. COM 55354G 10 0 26868 729706 SH SOLE 729706 NGP Capital Resources Co........ COM 62912R 10 7 11903 1234760 SH SOLE 1234760 Nutraceutical International Corp................ COM 67060Y 10 1 13935 930247 SH SOLE 930247 Occidental Petroleum Corp................ COM 674599 10 5 48490 464063 SH SOLE 464063 Omnicom Group Inc................. COM 681919 10 6 1706 34773 SH SOLE 34773 Oracle Corp.......... COM 68389X 10 5 63236 1894999 SH SOLE 1894999 Patterson-UTI Energy Inc.......... COM 703481 10 1 3026 102944 SH SOLE 102944 Penske Auto Group Inc................. COM 70959W 10 3 46283 2311836 SH SOLE 2311836 PepsiCo Inc.......... COM 713448 10 8 43895 681497 SH SOLE 681497 Pfizer Inc........... COM 717081 10 3 474 23329.3 SH SOLE 23329.3 Philip Morris International Inc................. COM 718172 10 9 46531 708994 SH SOLE 708994 Primerica Inc........ COM 74164M 10 8 41783 1637914 SH SOLE 1637914 Procter & Gamble Co.................. COM 742718 10 9 20016 324935 SH SOLE 324935 Qualcomm Inc......... COM 747525 10 3 37303 680337 SH SOLE 680337 Ritchie Bros. Auctioneers Inc................. COM 767744 10 5 67899 2412052 SH SOLE 2412052 Rogers Communications Inc................. CL B 775109 20 0 99616 2747081 SH SOLE 2747081 Royal Bank of Canada.............. COM 780087 10 2 108948 1764892 SH SOLE 1764892 SG Preferred Capital II LLC................. COM 784210 30 4 960 1000 SH SOLE 1000 Shaw Communications Inc................. CL B 82028K 20 0 1058 50302 SH SOLE 50302 Solera Holdings Inc................. COM 83421A 10 4 24706 483487 SH SOLE 483487 SPDR Barclays Capital High Yield Bond ETF................. COM 78464A 41 7 3535 87261 SH SOLE 87261 Sun Life Financial Inc................. COM 866796 10 5 50448 1608983 SH SOLE 1608983 Suncor Energy Inc................. COM 867224 10 7 37627 840973 SH SOLE 840973 Symantec Corp........ COM 871503 10 8 241 13023 SH SOLE 13023 Tech Data Corporation......... COM 878237 10 6 26920 529294 SH SOLE 529294 Thomson Reuters Corp................ COM 884903 10 5 169641 4332651 SH SOLE 4332651 Tim Hortons Inc................. COM 88706M 10 3 119028 2630697 SH SOLE 2630697 Time Warner Inc................. COM 887317 30 3 243 6800 SH SOLE 6800 Toronto-Dominion Bank................ COM 891160 50 9 110957 1256735 SH SOLE 1256735 U.S. Concrete Inc................. COM 90333L 20 1 173 18161 SH SOLE 18161 United Technologies Corp................ COM 913017 10 9 40958 483848 SH SOLE 483848 US Gold Corp......... COM 912023 20 7 88 10000 SH SOLE 10000 Viacom Inc........... CL A 92553P 10 2 575 10782 SH SOLE 10782 Visa Inc............. COM 92826C 83 9 32680 443899 SH SOLE 443899 Wal-Mart Stores Inc................. COM 931142 10 3 833 16000 SH SOLE 16000 Washington Post Co.................. CL B 939640 10 8 31772 72612 SH SOLE 72612 Western Union Co.................. COM 959802 10 9 50642 2438218 SH SOLE 2438218 Yahoo! Inc........... COM 984332 10 6 22567 1355379 SH SOLE 1355379 TOTAL 3836068 COUNT 106