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, 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 November 12, 2008 -------------------------------- ----------------------- ----------------- [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: 89 Form 13F Information Table Value Total: 1,960,155 ----------- (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

VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRNT AMT PRN CALL DECISION MANAGERS SOLE SHARED NONE -------------- -------------- ----------- --------- --------- --- ---- ---------- -------- --------- ------ ---- 3M Co. COM 88579Y 10 1 68,971 1,009,683 SH SOLE 1,009,683 Aflac Inc. COM 001055 10 2 28,980 493,278 SH SOLE 493,278 Altria Group Inc. COM 02209S 10 3 25,434 1,281,967 SH SOLE 1,281,967 AmerisourceBergen Corp COM 03073E 10 5 33,046 877,724 SH SOLE 877,724 Ares Capital Corp. COM 04010L 10 3 23,769 2,278,903 SH SOLE 2,278,903 Arthur J. Gallagher & Co. COM 363576 10 9 27,310 1,064,286 SH SOLE 1,064,286 Asbury Automotive Group Inc. COM 043436 10 4 22,709 1,971,284 SH SOLE 1,971,284 Automatic Data Processing, Inc. COM 053015 10 3 17,469 408,634 SH SOLE 408,634 AutoNation Inc. COM 05329W 10 2 6,940 617,453 SH SOLE 617,453 Bare Escentuals Inc. COM 067511 10 5 27,839 2,561,111 SH SOLE 2,561,111 Berkshire Hathaway Inc. CL A 084670 10 8 33,042 253 SH SOLE 253 Berkshire Hathaway Inc. CL B 084670 20 7 1,604 365 SH SOLE 365 Brown & Brown Inc. COM 115236 10 1 47,500 2,197,018 SH SOLE 2,197,018 Cintas Corp. COM 172908 10 5 3,776 131,524 SH SOLE 131,524 Cohen & Steers Inc. COM 19247A 10 0 18,979 669,936 SH SOLE 669,936 Corporate Executive Board Co. COM 21988R 10 2 21,940 702,067 SH SOLE 702,067 DealerTrack Holdings Inc. COM 242309 10 2 27,311 1,621,813 SH SOLE 1,621,813 Dollar Financial Corp. COM 256664 10 3 21,295 1,383,690 SH SOLE 1,383,690 EchoStar Corp. CL A 278768 10 6 25,497 1,057,987 SH SOLE 1,057,987 Emerson Electric Co. COM 291011 10 4 23,834 584,300 SH SOLE 584,300 Entravision Communications Corp. CL A 29382R 10 7 1,332 495,121 SH SOLE 495,121 Equifax Inc. COM 294429 10 5 44,319 1,286,487 SH SOLE 1,286,487 Expedia Inc. COM 30212P 10 5 6,698 443,288 SH SOLE 443,288 FedEx Corp. COM 31428X 10 6 17,112 216,497 SH SOLE 216,497 Fidelity National Information Services Inc. COM 31620M 10 6 1,786 96,730 SH SOLE 96,730 First Advantage Corp. CL A 31845F 10 0 141 10,000 SH SOLE 10,000 Franklin Resources, Inc. COM 354613 10 1 291 3,300 SH SOLE 3,300 Gladstone Investment Corp. COM 376546 10 7 14,702 2,136,959 SH SOLE 2,136,959 Graco Inc. COM 384109 10 4 15,074 423,303 SH SOLE 423,303 Greenfield Online Inc. COM 395150 10 5 28,445 1,634,774 SH SOLE 1,634,774 Grubb & Ellis Co. COM 400095 20 4 2,278 843,527 SH SOLE 843,527 H&R Block Inc. COM 093671 10 5 81,258 3,571,792 SH SOLE 3,571,792 HCC Insurance Holdings Inc. COM 404132 10 2 47,768 1,769,197 SH SOLE 1,769,197 Hercules Offshore Inc. COM 427093 10 9 7,495 494,375 SH SOLE 494,375 Herman Miller, Inc. COM 600544 10 0 16,926 691,700 SH SOLE 691,700 IAC/InterActiveCorp COM 44919P 50 8 1,560 90,169 SH SOLE 90,169 Infogroup Inc. COM 45670G 10 8 18,602 2,814,174 SH SOLE 2,814,174 Intel Corp. COM 458140 10 0 16,053 857,067 SH SOLE 857,067 Interactive Data Corp. COM 45840J 10 7 36,058 1,429,747 SH SOLE 1,429,747 International Speedway Corp. CL A 460335 20 1 34,967 898,661 SH SOLE 898,661 Interval Leisure Group Inc. COM 46113M 10 8 435 41,825 SH SOLE 41,825 IVCI CORP CL B 450704 10 1 - 10,000 SH SOLE 10,000 Jackson Hewitt Tax Service Inc. COM 468202 10 6 22,901 1,492,865 SH SOLE 1,492,865 Johnson & Johnson COM 478160 10 4 80,039 1,155,297 SH SOLE 1,155,297 Jupitermedia Corp. COM 48207D 10 1 3,563 3,071,614 SH SOLE 3,071,614 Kayne Anderson Energy Development Co. COM 48660Q 10 2 15,465 913,462 SH SOLE 913,462 Laboratory Corporation of America Holdings COM 50540R 40 9 6,377 91,762 SH SOLE 91,762 LECG Corp. COM 523234 10 2 4,400 545,204 SH SOLE 545,204 Lender Processing Services Inc. COM 52602E 10 2 32,518 1,065,474 SH SOLE 1,065,474 Liberty Media Corp. - Interactive CL A 53071M 10 4 19,793 1,533,189 SH SOLE 1,533,189 Lockheed Martin Corp. COM 539830 10 9 21,834 199,086 SH SOLE 199,086 Lorillard Inc. COM 544147 10 1 70,849 995,771 SH SOLE 995,771 M&T Bank Corp. COM 55261F 10 4 589 6,600 SH SOLE 6,600 MarketAxess Holdings Inc. COM 57060D 10 8 23,159 2,869,739 SH SOLE 2,869,739 McDonald's Corp. COM 580135 10 1 26,819 434,669 SH SOLE 434,669 Merck & Co., Inc. COM 589331 10 7 1,774 56,205 SH SOLE 56,205 Microsoft Corp. COM 594918 10 4 67,391 2,524,969 SH SOLE 2,524,969 Moody's Corp. COM 615369 10 5 5,144 151,300 SH SOLE 151,300 Move Inc. COM 62458M 10 8 16,764 7,907,326 SH SOLE 7,907,326 NBTY Inc. COM 628782 10 4 15,597 528,342 SH SOLE 528,342 NGP Capital Resources Co. COM 62912R 10 7 15,666 1,075,256 SH SOLE 1,075,256 Nike, Inc. CL B 654106 10 3 26,003 388,682 SH SOLE 388,682 Nutraceutical International Corp. COM 67060Y 10 1 10,903 986,656 SH SOLE 986,656 Omnicom Group Inc. COM 681919 10 6 73,312 1,901,250 SH SOLE 1,901,250 Patterson-UTI Energy Inc. COM 703481 10 1 5,556 277,500 SH SOLE 277,500 Pfizer Inc. COM 717081 10 3 369 20,000 SH SOLE 20,000 Philip Morris International Inc. COM 718172 10 9 23,004 478,249 SH SOLE 478,249 Phillips-Van Heusen Corp. COM 718592 10 8 25,580 674,750 SH SOLE 674,750 Prestige Brands Holdings Inc. COM 74112D 10 1 9,053 1,019,460 SH SOLE 1,019,460 Procter & Gamble Co. COM 742718 10 9 26,033 373,560 SH SOLE 373,560 Quest Diagnostics Inc. COM 74834L 10 0 29,622 573,291 SH SOLE 573,291 Regis Corp. COM 758932 10 7 19,454 707,409 SH SOLE 707,409 Saga Communications Inc. COM 786598 10 2 378 66,400 SH SOLE 66,400 School Specialty Inc. COM 807863 10 5 24,374 781,463 SH SOLE 781,463 Sherwin-Williams Co. COM 824348 10 6 26,620 465,707 SH SOLE 465,707 Skechers USA Inc. CL A 830566 10 5 28,212 1,676,276 SH SOLE 1,676,276 Steven Madden Ltd. COM 556269 10 8 7,945 320,621 SH SOLE 320,621 Stratasys Inc. COM 862685 10 4 4,246 243,065 SH SOLE 243,065 TCF Financial Corp. COM 872275 10 2 21,716 1,206,457 SH SOLE 1,206,457 Tempur-Pedic International Inc. COM 88023U 10 1 11,068 941,166 SH SOLE 941,166 TFS Financial Corp. COM 87240R 10 7 29,656 2,368,680 SH SOLE 2,368,680 The McGraw-Hill Companies, Inc. COM 580645 10 9 59,823 1,892,537 SH SOLE 1,892,537 Tim Hortons Inc. COM 88706M 10 3 68,284 2,304,568 SH SOLE 2,304,568 United Technologies Corp. COM 913017 10 9 37,303 621,090 SH SOLE 621,090 US Gold Corp. COM 912023 20 7 13 10,000 SH SOLE 10,000 Viacom Inc. CL A 92553P 10 2 433 17,400 SH SOLE 17,400 W.W. Grainger Inc. COM 384802 10 4 3,263 37,523 SH SOLE 37,523 Wal-Mart Stores Inc. COM 931142 10 3 299 5,000 SH SOLE 5,000 Walt Disney Co. COM 254687 10 6 36,446 1,187,566 SH SOLE 1,187,566 Total 1,960,155 Count 89