Burgundy Asset Management Ltd. Top Holdings and 13F Report (2025)

About Burgundy Asset Management Ltd.

Investment Activity

Burgundy Asset Management Ltd. has $9.65 billion in total holdings as of March 31, 2025.
Burgundy Asset Management Ltd. owns shares of 109 different stocks, but just 47 companies or ETFs make up 80% of its holdings.
Approximately 9.64% of the portfolio was purchased this quarter.
About 10.68% of the portfolio was sold this quarter.
This quarter, Burgundy Asset Management Ltd. has purchased 104 new stocks and bought additional shares in 50 stocks.
Burgundy Asset Management Ltd. sold shares of 45 stocks and completely divested from 5 stocks this quarter.

Largest Holdings

SS&C Technologies: $433,212,224
Primerica: $372,739,706
Willis Towers Watson Public: $304,606,839
Intercontinental Exchange: $220,281,465
Wyndham Hotels & Resorts: $214,459,915

Largest New Holdings this Quarter

912008109 - US Foods: $110,244,721 Holding
654106103 - NIKE: $89,279,034 Holding
929740108 - Westinghouse Air Brake Technologies: $85,912,749 Holding
44891N208 - IAC: $66,555,713 Holding
49456W105 - KinderCare Learning Companies, Inc. (KC Holdco): $26,302,868 Holding

Largest Purchases this Quarter

US Foods: 1,684,154 shares (about $110.24M)
NIKE: 1,406,412 shares (about $89.28M)
Westinghouse Air Brake Technologies: 473,740 shares (about $85.91M)
IAC: 1,448,753 shares (about $66.56M)
Gentex: 2,211,392 shares (about $51.53M)

Largest Sales this Quarter

Kennametal: 4,131,537 shares (about $88.00M)
Intercontinental Exchange: 460,617 shares (about $79.46M)
Main Street Capital: 1,115,976 shares (about $63.12M)
Mastercard: 111,930 shares (about $61.35M)
Microsoft: 161,448 shares (about $60.61M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
SSNC SS&C Technologies	$433,212,224	$15,219,166 ▲	3.6%	5,186,307	4.5%	Computer and Technology
PRI Primerica	$372,739,706	$6,130,483 ▲	1.7%	1,310,019	3.9%	Finance
WTW Willis Towers Watson Public	$304,606,839	$10,529,846 ▼	-3.3%	901,337	3.2%	Finance
ICE Intercontinental Exchange	$220,281,465	$79,456,433 ▼	-26.5%	1,276,994	2.3%	Finance
WH Wyndham Hotels & Resorts	$214,459,915	$6,170,248 ▲	3.0%	2,369,461	2.2%	Consumer Discretionary
ALSN Allison Transmission	$213,769,449	$22,706,892 ▼	-9.6%	2,234,446	2.2%	Auto/Tires/Trucks
COR Cencora	$213,434,631	$8,281,242 ▼	-3.7%	767,502	2.2%	Medical
GMED Globus Medical	$205,087,880	$13,442,375 ▲	7.0%	2,801,747	2.1%	Medical
MDLZ Mondelez International	$200,804,246	$23,316,856 ▼	-10.4%	2,959,532	2.1%	Consumer Staples
JNJ Johnson & Johnson	$193,921,190	$6,307,890 ▼	-3.2%	1,169,327	2.0%	Medical
MSFT Microsoft	$193,048,061	$60,605,965 ▼	-23.9%	514,260	2.0%	Computer and Technology
HLI Houlihan Lokey	$192,156,253	$10,014,454 ▼	-5.0%	1,189,822	2.0%	Finance
KAR OPENLANE	$191,366,744	$12,477,322 ▲	7.0%	9,925,661	2.0%	Auto/Tires/Trucks
EME EMCOR Group	$190,552,397	$12,223,294 ▲	6.9%	515,522	2.0%	Construction
MDT Medtronic	$189,811,727	$6,296,939 ▼	-3.2%	2,112,305	2.0%	Medical
AWI Armstrong World Industries	$180,748,476	$11,861,392 ▲	7.0%	1,282,996	1.9%	Construction
GNTX Gentex	$180,067,270	$51,525,434 ▲	40.1%	7,728,209	1.9%	Auto/Tires/Trucks
GOOGL Alphabet	$178,326,827	$50,225,062 ▼	-22.0%	1,153,174	1.8%	Computer and Technology
CBZ CBIZ	$168,429,379	$10,535,892 ▲	6.7%	2,220,266	1.7%	Business Services
LOPE Grand Canyon Education	$163,703,219	$10,560,103 ▲	6.9%	946,152	1.7%	Consumer Discretionary
EA Electronic Arts	$163,124,493	$25,778,755 ▼	-13.6%	1,128,733	1.7%	Consumer Discretionary
CME CME Group	$157,314,582	$5,425,976 ▼	-3.3%	592,991	1.6%	Finance
KVUE Kenvue	$157,211,489	$12,794,001 ▲	8.9%	6,555,942	1.6%	Consumer Staples
AMH American Homes 4 Rent	$155,448,102	$10,085,591 ▲	6.9%	4,111,296	1.6%	Finance
ROST Ross Stores	$153,861,077	$6,753,829 ▲	4.6%	1,204,015	1.6%	Retail/Wholesale
HSIC Henry Schein	$153,104,532	$38,801,640 ▲	33.9%	2,235,429	1.6%	Medical
NWSA News	$152,953,726	$4,927,773 ▼	-3.1%	5,619,167	1.6%	Consumer Discretionary
SYY Sysco	$151,280,190	$42,316,632 ▲	38.8%	2,015,994	1.6%	Consumer Staples
LNW Light & Wonder	$136,375,153	$8,838,637 ▲	6.9%	1,574,589	1.4%	Consumer Discretionary
AMZN Amazon.com	$130,166,760	$26,988,191 ▼	-17.2%	684,152	1.3%	Retail/Wholesale
BRK.A Berkshire Hathaway	$126,952,214	$1,596,883 ▼	-1.2%	159	1.3%	Finance
DLTR Dollar Tree	$126,043,431	$3,723,922 ▼	-2.9%	1,679,012	1.3%	Retail/Wholesale
EEFT Euronet Worldwide	$125,166,868	$8,027,213 ▲	6.9%	1,171,426	1.3%	Finance
PAG Penske Automotive Group	$124,330,905	$8,159,203 ▲	7.0%	863,529	1.3%	Retail/Wholesale
STRA Strategic Education	$123,910,771	$18,231,998 ▲	17.3%	1,475,831	1.3%	Consumer Discretionary
TD Toronto-Dominion Bank	$115,988,796	$19,502,474 ▼	-14.4%	1,933,740	1.2%	Finance
NYT New York Times	$115,331,110	$45,521,193 ▲	65.2%	2,325,224	1.2%	Consumer Staples
MA Mastercard	$113,272,287	$61,351,072 ▼	-35.1%	206,656	1.2%	Business Services
USFD US Foods	$110,244,721	$110,244,721 ▲	New Holding	1,684,154	1.1%	Consumer Staples
CABO Cable One	$106,946,645	$22,861,270 ▲	27.2%	402,403	1.1%	Consumer Discretionary
QSR Restaurant Brands International	$106,265,919	$28,373,332 ▲	36.4%	1,592,502	1.1%	Retail/Wholesale
SSD Simpson Manufacturing	$105,798,878	$6,769,991 ▲	6.8%	673,535	1.1%	Construction
RCI Rogers Communications	$93,827,714	$26,153,109 ▲	38.6%	3,509,952	1.0%	Consumer Discretionary
PG Procter & Gamble	$92,742,053	$19,447,819 ▼	-17.3%	544,197	1.0%	Consumer Staples
NKE NIKE	$89,279,034	$89,279,034 ▲	New Holding	1,406,412	0.9%	Consumer Discretionary
MKTX MarketAxess	$87,083,255	$34,235,224 ▲	64.8%	402,511	0.9%	Finance
CARR Carrier Global	$86,502,263	$37,010,765 ▼	-30.0%	1,364,389	0.9%	Computer and Technology
WAB Westinghouse Air Brake Technologies	$85,912,749	$85,912,749 ▲	New Holding	473,740	0.9%	Transportation
TFC Truist Financial	$85,023,842	$2,593,273 ▼	-3.0%	2,066,193	0.9%	Finance
HLMN Hillman Solutions	$83,415,957	$5,395,873 ▲	6.9%	9,489,870	0.9%	Construction
STN Stantec	$81,007,904	$3,134,900 ▼	-3.7%	976,338	0.8%	Business Services
GGG Graco	$79,502,439	$5,137,285 ▲	6.9%	952,011	0.8%	Industrials
SKY Skyline Champion	$76,964,451	$4,913,590 ▲	6.8%	812,204	0.8%	Construction
RY Royal Bank of Canada	$72,416,676	$747,239 ▼	-1.0%	642,238	0.8%	Finance
DV DoubleVerify	$69,871,192	$4,265,765 ▲	6.5%	5,225,968	0.7%	Computer and Technology
CNI Canadian National Railway	$69,339,587	$795,757 ▼	-1.1%	711,819	0.7%	Transportation
GNRC Generac	$67,663,016	$11,887,749 ▲	21.3%	534,252	0.7%	Industrials
ORCL Oracle	$66,834,353	$2,027,944 ▼	-2.9%	478,037	0.7%	Computer and Technology
IAC IAC	$66,555,713	$66,555,713 ▲	New Holding	1,448,753	0.7%	Multi-Sector Conglomerates
EYE National Vision	$63,850,209	$4,096,821 ▲	6.9%	4,996,104	0.7%	Consumer Staples
GIB CGI	$62,944,842	$1,152,092 ▼	-1.8%	629,890	0.7%	Computer and Technology
NWS News	$59,228,273	$1,951,850 ▼	-3.2%	1,950,223	0.6%	Consumer Discretionary
BN Brookfield	$58,571,594	$678,865 ▼	-1.1%	1,118,085	0.6%	Finance
BNS Bank of Nova Scotia	$57,187,449	$613,004 ▼	-1.1%	1,204,941	0.6%	Finance
BRK.B Berkshire Hathaway	$52,608,785	$3,765,341 ▼	-6.7%	98,781	0.5%	Finance
TSLX Sixth Street Specialty Lending	$52,526,889	$3,459,053 ▲	7.0%	2,347,046	0.5%	Finance
CIGI Colliers International Group	$51,871,730	$774,682 ▼	-1.5%	428,201	0.5%	Finance
ALRM Alarm.com	$49,102,833	$10,211,942 ▲	26.3%	882,351	0.5%	Industrials
AZO AutoZone	$44,693,407	$27,882,860 ▼	-38.4%	11,722	0.5%	Retail/Wholesale
CPRT Copart	$44,179,870	$2,995,761 ▲	7.3%	780,701	0.5%	Business Services
ATS ATS	$44,133,184	$7,940,810 ▲	21.9%	1,768,782	0.5%	Industrials
WCN Waste Connections	$44,033,139	$577,912 ▼	-1.3%	225,685	0.5%	Business Services
EL Estée Lauder Companies	$29,855,298	$927,564 ▼	-3.0%	452,353	0.3%	Consumer Staples
KLC KinderCare Learning Companies, Inc. (KC Holdco)	$26,302,868	$26,302,868 ▲	New Holding	2,269,445	0.3%	Consumer Discretionary
LABCORP HOLDINGS INC	$22,259,952	$1,570,530 ▲	7.6%	95,643	0.2%	COM SHS
BFAM Bright Horizons Family Solutions	$20,928,824	$1,142,344 ▲	5.8%	164,742	0.2%	Business Services
MCD McDonald's	$18,942,742	$40,920 ▼	-0.2%	60,642	0.2%	Retail/Wholesale
ATAT Atour Lifestyle	$16,580,299	$1,060,290 ▲	6.8%	584,843	0.2%	Consumer Discretionary
MMM 3M	$16,154,600		0.0%	110,000	0.2%	Multi-Sector Conglomerates
SNX TD SYNNEX	$15,964,513	$1,007,372 ▲	6.7%	153,564	0.2%	Computer and Technology
BA Boeing	$14,496,750		0.0%	85,000	0.2%	Aerospace
HDB HDFC Bank	$13,543,661	$2,059,374 ▼	-13.2%	203,848	0.1%	Finance
YMM Full Truck Alliance	$12,656,947	$963,458 ▲	8.2%	991,147	0.1%	Business Services
FAF First American Financial	$11,349,330	$766,033 ▲	7.2%	172,929	0.1%	Finance
EVRI Everi	$10,695,230	$693,780 ▲	6.9%	782,387	0.1%	Business Services
KMT Kennametal	$10,254,566	$88,001,742 ▼	-89.6%	481,435	0.1%	Industrials
DFIN Donnelley Financial Solutions	$8,303,938	$8,303,938 ▲	New Holding	189,978	0.1%	Computer and Technology
NTR Nutrien	$8,197,159	$1,738,791 ▲	26.9%	165,000	0.1%	Basic Materials
ENB Enbridge	$7,157,510	$460,793 ▼	-6.0%	161,559	0.1%	Energy
LOW Lowe's Companies	$7,103,253	$309,963 ▼	-4.2%	30,456	0.1%	Retail/Wholesale
TRP TC Energy	$5,780,492	$177,085 ▼	-3.0%	122,279	0.1%	Energy
EQC Equity Commonwealth	$2,894,170	$3,232,244 ▼	-52.8%	1,797,621	0.0%	Finance
TU TELUS	$2,829,543	$23,345 ▼	-0.8%	197,082	0.0%	Utilities
CNQ Canadian Natural Resources	$2,314,246	$74,878 ▲	3.3%	75,135	0.0%	Energy
BAM Brookfield Asset Management	$2,300,376	$723,828 ▲	45.9%	47,474	0.0%	Finance
BROOKFIELD INFRASTRUCTURE CO	$2,172,599	$2,172,599 ▲	New Holding	60,099	0.0%	COM SUB VTG A
MAIN Main Street Capital	$2,128,013	$63,119,590 ▼	-96.7%	37,624	0.0%	Finance
GRANITE REAL ESTATE INVT TR	$1,853,706	$1,853,706 ▲	New Holding	39,745	0.0%	TR UNIT NEW
YUMC Yum China	$1,517,080	$30,507 ▼	-2.0%	29,141	0.0%	Retail/Wholesale
NEOG Neogen	$838,398	$838,398 ▲	New Holding	96,701	0.0%	Medical

Showing largest 100 holdings. View all holdings.

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Burgundy Asset Management Ltd. Top Holdings and 13F Report (2025)

About Burgundy Asset Management Ltd.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

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Burgundy Asset Management Ltd. Top Holdings and 13F Report (2025)

About Burgundy Asset Management Ltd.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofBurgundy Asset Management Ltd.

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools