13F-HR 1 d13fhr.txt FORM 13F-HR 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, 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 February 1, 2007 ------------------------ ------------------------ ------------------------ [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 reportingmanager(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: 82 Form 13F Information Table Value Total: 2,546,517 ---------- (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 Security Listing by Country Report - December 31, 2006

Title of Mkt Val. Investment Other Voting Name of Issuer Class Cusip (x$1000) Total Shrs Decision Managers Authority ---------------------------------------------------------------------------------------------------- 3M Co. COM 88579Y101 59727 766418 SH SOLE 766418 Abbott Laboratories COM 002824 10 0 44600 915629 SH SOLE 915629 Abercrombie & Fitch Co. COM 002896 20 7 17695 254128 SH SOLE 254128 Adesa Inc. COM 00686U104 34673 1249492 SH SOLE 1249492 Altria Group Inc. COM 02209S103 68031 792723 SH SOLE 792723 Apollo Group Inc., Class A CL A 037604 10 5 39773 1020604 SH SOLE 1020604 Ares Capital Corp. COM 04010L103 28140 1472507 SH SOLE 1472507 Arthur J. Gallagher & Co. COM 363576 10 9 29416 995465 SH SOLE 995465 AutoNation Inc. COM 05329W102 5330 250000 SH SOLE 250000 Belo Corp., Class A CL A 080555 10 5 2934 159700 SH SOLE 159700 Berkshire Hathaway Inc., Class A CL A 084670 10 8 55105 501 SH SOLE 501 Berkshire Hathaway Inc., Class B CL B 084670 20 7 920 251 SH SOLE 251 BioScrip Inc. COM 09069N108 6325 1828102 SH SOLE 1828102 Bristol West Holdings Inc. COM 11037M105 11873 750000 SH SOLE 750000 Cavco Industries Inc. COM 149568 10 7 4163 118799 SH SOLE 118799 CBS Corp., Class A CL A 124857 10 3 5318 170350 SH SOLE 170350 CBS Corp., Class B Non- voting CL B 124857 20 2 37059 1188546 SH SOLE 1188546 Dell Inc. COM 24702R101 106681 4251945 SH SOLE 4251945 Dollar Financial Corp. COM 256664 10 3 29549 1060623 SH SOLE 1060623 DTS Inc. COM 23335C101 31144 1287463 SH SOLE 1287463 E.W. Scripps Co., Class A CL A 811054 20 4 28793 576543 SH SOLE 576543 Entravision Communications Corp., Class A CL A 29382R107 12055 1466604 SH SOLE 1466604 Equifax Inc. COM 294429 10 5 37047 912492 SH SOLE 912492 Expedia Inc. COM 30212P105 7293 347600 SH SOLE 347600 Federated Investors Inc., Class B CL B 314211 10 3 6131 181500 SH SOLE 181500 Fidelity National Information Services Inc. COM 31620M106 2147 53565 SH SOLE 53565 First American Corp. CL A 318522 30 7 3604 88600 SH SOLE 88600 Fossil Inc. COM 349882 10 0 21237 940541 SH SOLE 940541 Gladstone Investment Corp. COM 376546 10 7 18382 1200649 SH SOLE 1200649 Global Imaging Systems Inc. COM 37934A100 45358 2066430 SH SOLE 2066430 Greenfield Online Inc. COM 395150 10 5 28188 1971187 SH SOLE 1971187 HCC Insurance Holdings Inc. COM 404132 10 2 41659 1298188 SH SOLE 1298188 Hilb Rogal & Hobbs Company COM 431294 10 7 9405 223300 SH SOLE 223300 Home Depot Inc. COM 437076 10 2 61909 1541552 SH SOLE 1541552 Hudson City Bancorp Inc. COM 443683 10 7 86710 6247137 SH SOLE 6247137 infoUSA Inc. COM 456818 30 1 20884 1753453 SH SOLE 1753453 Interactive Data Corp. COM 45840J107 49757 2069755 SH SOLE 2069755 International Speedway Corp., Class A CL A 460335 20 1 17874 350201 SH SOLE 350201 IVCI CORP CLASS B CL B 450704 10 1 0 10000 SH SOLE 10000 Jackson Hewitt Tax Service Inc. COM 468202 10 6 33548 987580 SH SOLE 987580 Johnson & Johnson COM 478160 10 4 119679 1812765 SH SOLE 1812765 Jupitermedia Corp. COM 48207D101 25612 3233875 SH SOLE 3233875 KKR Financial Corp. COM 482476 30 6 3014 112500 SH SOLE 112500 Kohlberg Capital Corp. COM 500233 10 1 9484 548200 SH SOLE 548200 Laboratory Corporation of America Holdings COM 50540R409 6524 88800 SH SOLE 88800 M&T Bank Corp. COM 55261F104 1222 10000 SH SOLE 10000 McDonald's Corp. COM 580135 10 1 115150 2597560 SH SOLE 2597560 Merck & Co., Inc. COM 589331 10 7 2960 67900 SH SOLE 67900 Merit Medical Systems Inc. COM 589889 10 4 20526 1295838 SH SOLE 1295838 Microsoft Corp. COM 594918 10 4 110482 3699986 SH SOLE 3699986 Motorola Inc. COM 620076 10 9 39776 1934628 SH SOLE 1934628 NAVTEQ Corp. COM 63936L100 25286 723091 SH SOLE 723091 NGP Capital Resources Co. COM 62912R107 19584 1169184 SH SOLE 1169184 Nike, Inc., Class B CL B 654106 10 3 37889 382600 SH SOLE 382600 NU Skin Enterprises Inc., Class A CL A 67018T105 18721 1026937 SH SOLE 1026937 Nutraceutical International Corp. COM 67060Y101 15010 980437 SH SOLE 980437 Pfizer Inc. COM 717081 10 3 518 20000 SH SOLE 20000 Priceline.com Inc. COM 741503 40 3 31519 722736 SH SOLE 722736 Procter & Gamble Co. COM 742718 10 9 44617 694210 SH SOLE 694210 Quest Diagnostics Inc. COM 74834L100 36112 681367 SH SOLE 681367 Radio One Inc., Class D CL D 75040P405 24273 3601395 SH SOLE 3601395 RC2 Corp. COM 749388 10 4 43838 996317 SH SOLE 996317 Realogy Corp. COM 75605E100 3320 109500 SH SOLE 109500 Rent-A-Center Inc. COM 76009N100 3154 106875 SH SOLE 106875 RLI Corp. COM 749607 10 7 24443 433233 SH SOLE 433233 Sabre Holding Corp., Class A CL A 785905 10 0 7701 241500 SH SOLE 241500 Safenet Inc. COM 78645R107 25570 1068091 SH SOLE 1068091 School Specialty Inc. COM 807863 10 5 15554 414879 SH SOLE 414879 Speedway Motorsports Inc. COM 847788 10 6 26177 681690 SH SOLE 681690 Stratasys Inc. COM 862685 10 4 19151 609717 SH SOLE 609717 TALX Corp. COM 874918 10 5 4726 172173 SH SOLE 172173 Tempur-Pedic International Inc. COM 88023U101 48839 2387051 SH SOLE 2387051 Tim Hortons Inc. COM 88706M103 80421 2387100 SH SOLE 2387100 Time Warner Inc. COM 887317 10 5 53634 2462518 SH SOLE 2462518 U.S. Gold Corp. COM 912023 20 7 51 10000 SH SOLE 10000 United Auto Group Inc. COM 909440 10 9 28023 1188934 SH SOLE 1188934 VF Corp. COM 918204 10 8 4416 53800 SH SOLE 53800 Wachovia Corp. COM 929903 10 2 46466 815904 SH SOLE 815904 Wal-Mart Stores Inc. COM 931142 10 3 101789 2204183 SH SOLE 2204183 Wells Fargo & Co. COM 949746 10 1 51599 1451037 SH SOLE 1451037 Wyeth COM 983024 10 0 63469 1246439 SH SOLE 1246439 Yankee Candle Co., Inc. COM 984757 10 4 35780 1043760 SH SOLE 1043760 $2,546,517,369.05 Count 82

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