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

About Burgundy Asset Management Ltd.

Investment Activity

Burgundy Asset Management Ltd. has $9.90 billion in total holdings as of December 31, 2024.
Burgundy Asset Management Ltd. owns shares of 104 different stocks, but just 46 companies or ETFs make up 80% of its holdings.
Approximately 6.22% of the portfolio was purchased this quarter.
About 8.64% of the portfolio was sold this quarter.
This quarter, Burgundy Asset Management Ltd. has purchased 106 new stocks and bought additional shares in 45 stocks.
Burgundy Asset Management Ltd. sold shares of 46 stocks and completely divested from 7 stocks this quarter.

Largest Holdings

SS&C Technologies: $379,211,228
Primerica: $349,717,342
Willis Towers Watson Public: $292,094,734
Microsoft: $284,810,922
Alphabet: $279,778,017

Largest New Holdings this Quarter

G5960L103 - Medtronic: $174,328,514 Holding
011642105 - Alarm.com: $42,489,958 Holding
109194100 - Bright Horizons Family Solutions: $17,264,888 Holding
464287465 - iShares MSCI EAFE ETF: $15,905,093 Holding
596278101 - Middleby: $206,832 Holding

Largest Purchases this Quarter

Medtronic: 2,182,380 shares (about $174.33M)
Sysco: 1,039,088 shares (about $79.45M)
Toronto-Dominion Bank: 1,306,946 shares (about $69.51M)
Alarm.com: 698,848 shares (about $42.49M)
DoubleVerify: 2,073,279 shares (about $39.83M)

Largest Sales this Quarter

Brookfield Asset Management: 1,489,587 shares (about $80.71M)
Alphabet: 334,920 shares (about $63.40M)
Allison Transmission: 572,044 shares (about $61.82M)
TD SYNNEX: 499,352 shares (about $58.56M)
Procter & Gamble: 294,408 shares (about $49.36M)

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	$379,211,228	$8,597,393 ▼	-2.2%	5,004,107	3.8%	Computer and Technology
PRI Primerica	$349,717,342	$5,756,275 ▲	1.7%	1,288,473	3.5%	Finance
WTW Willis Towers Watson Public	$292,094,734	$28,954,339 ▼	-9.0%	932,495	3.0%	Finance
MSFT Microsoft	$284,810,922	$28,555,782 ▼	-9.1%	675,708	2.9%	Computer and Technology
GOOGL Alphabet	$279,778,017	$63,400,356 ▼	-18.5%	1,477,961	2.8%	Computer and Technology
ALSN Allison Transmission	$267,101,844	$61,815,075 ▼	-18.8%	2,471,792	2.7%	Auto/Tires/Trucks
ICE Intercontinental Exchange	$258,921,415	$25,476,836 ▼	-9.0%	1,737,611	2.6%	Finance
WH Wyndham Hotels & Resorts	$231,946,918	$3,813,087 ▲	1.7%	2,301,289	2.3%	Consumer Discretionary
EME EMCOR Group	$218,985,417	$3,539,966 ▲	1.6%	482,453	2.2%	Construction
HLI Houlihan Lokey	$217,392,971	$3,534,676 ▲	1.7%	1,251,831	2.2%	Finance
GMED Globus Medical	$216,543,713	$3,583,824 ▲	1.7%	2,618,108	2.2%	Medical
MDLZ Mondelez International	$197,299,240	$6,851,748 ▲	3.6%	3,303,185	2.0%	Consumer Staples
EA Electronic Arts	$191,229,900	$18,810,230 ▼	-9.0%	1,307,108	1.9%	Consumer Discretionary
KAR OPENLANE	$184,085,380	$3,054,864 ▲	1.7%	9,278,497	1.9%	Auto/Tires/Trucks
AMZN Amazon.com	$181,216,359	$18,600,542 ▼	-9.3%	826,001	1.8%	Retail/Wholesale
COR Cencora	$179,133,095	$17,638,953 ▼	-9.0%	797,281	1.8%	Medical
JNJ Johnson & Johnson	$174,608,837	$16,894,653 ▼	-8.8%	1,207,363	1.8%	Medical
MDT Medtronic	$174,328,514	$174,328,514 ▲	New Holding	2,182,380	1.8%	Medical
ROST Ross Stores	$174,136,578	$17,989,633 ▼	-9.4%	1,151,164	1.8%	Retail/Wholesale
AJG Arthur J. Gallagher & Co.	$170,864,643	$6,388,044 ▲	3.9%	601,954	1.7%	Finance
CBZ CBIZ	$170,319,325	$2,557,433 ▲	1.5%	2,081,380	1.7%	Business Services
AWI Armstrong World Industries	$169,426,545	$2,796,497 ▲	1.7%	1,198,801	1.7%	Construction
MA Mastercard	$167,757,830	$16,605,385 ▼	-9.0%	318,586	1.7%	Business Services
NWSA News	$159,737,563	$16,642,560 ▼	-9.4%	5,800,202	1.6%	Consumer Discretionary
GNTX Gentex	$158,498,152	$2,497,470 ▲	1.6%	5,516,817	1.6%	Auto/Tires/Trucks
LOPE Grand Canyon Education	$144,982,328	$2,402,455 ▲	1.7%	885,118	1.5%	Consumer Discretionary
AMH American Homes 4 Rent	$143,863,136	$2,273,490 ▲	1.6%	3,844,552	1.5%	Finance
CME CME Group	$142,460,100	$14,351,350 ▼	-9.2%	613,444	1.4%	Finance
CARR Carrier Global	$132,981,060	$41,754,983 ▼	-23.9%	1,948,155	1.3%	Computer and Technology
DLTR Dollar Tree	$129,542,633	$14,225,710 ▼	-9.9%	1,728,618	1.3%	Retail/Wholesale
KVUE Kenvue	$128,578,539	$12,776,929 ▼	-9.0%	6,022,414	1.3%	Consumer Staples
LNW Light & Wonder	$127,197,832	$2,449,564 ▲	2.0%	1,472,538	1.3%	Consumer Discretionary
PAG Penske Automotive Group	$122,997,738	$1,997,879 ▲	1.7%	806,860	1.2%	Retail/Wholesale
TD Toronto-Dominion Bank	$120,142,696	$69,512,301 ▲	137.3%	2,258,881	1.2%	Finance
STRA Strategic Education	$117,585,886	$1,911,000 ▲	1.7%	1,258,680	1.2%	Consumer Discretionary
HSIC Henry Schein	$115,487,811	$11,580,828 ▼	-9.1%	1,668,899	1.2%	Medical
CABO Cable One	$114,568,974	$7,077,635 ▲	6.6%	316,384	1.2%	Consumer Discretionary
EEFT Euronet Worldwide	$112,743,492	$19,586,187 ▲	21.0%	1,096,300	1.1%	Finance
SYY Sysco	$111,025,502	$79,448,669 ▲	251.6%	1,452,073	1.1%	Consumer Staples
KMT Kennametal	$110,803,587	$10,494,026 ▼	-8.7%	4,612,972	1.1%	Industrials
PG Procter & Gamble	$110,366,342	$49,357,501 ▼	-30.9%	658,314	1.1%	Consumer Staples
BRK.A Berkshire Hathaway	$109,628,120		0.0%	161	1.1%	Finance
SSD Simpson Manufacturing	$104,545,202	$1,814,180 ▲	1.8%	630,436	1.1%	Construction
EBAY eBay	$94,326,619	$9,278,066 ▼	-9.0%	1,522,625	1.0%	Retail/Wholesale
DV DoubleVerify	$94,261,799	$39,827,690 ▲	73.2%	4,906,913	1.0%	Computer and Technology
TFC Truist Financial	$92,365,260	$9,323,056 ▼	-9.2%	2,129,213	0.9%	Finance
HLMN Hillman Solutions	$86,452,289	$1,563,319 ▲	1.8%	8,876,005	0.9%	Construction
ORCL Oracle	$82,077,199	$34,011,391 ▼	-29.3%	492,542	0.8%	Computer and Technology
STN Stantec	$79,486,646	$418,627 ▼	-0.5%	1,014,121	0.8%	Business Services
RY Royal Bank of Canada	$78,158,342	$318,842 ▼	-0.4%	648,865	0.8%	Finance
RCI Rogers Communications	$77,748,511	$529,092 ▼	-0.7%	2,531,604	0.8%	Consumer Discretionary
QSR Restaurant Brands International	$76,005,962	$290,663 ▲	0.4%	1,167,299	0.8%	Retail/Wholesale
GGG Graco	$75,059,739	$1,200,121 ▲	1.6%	890,494	0.8%	Industrials
NYT New York Times	$73,258,189	$10,298,561 ▲	16.4%	1,407,458	0.7%	Consumer Staples
CNI Canadian National Railway	$73,040,069	$24,971,091 ▲	51.9%	719,988	0.7%	Transportation
GIB CGI	$70,111,237	$500,296 ▼	-0.7%	641,419	0.7%	Computer and Technology
GNRC Generac	$68,282,314	$1,146,750 ▲	1.7%	440,389	0.7%	Industrials
MAIN Main Street Capital	$67,577,888	$1,007,342 ▲	1.5%	1,153,600	0.7%	Finance
SKY Skyline Champion	$66,986,923	$2,266,989 ▼	-3.3%	760,351	0.7%	Construction
BNS Bank of Nova Scotia	$65,332,555	$905,000 ▼	-1.4%	1,217,857	0.7%	Finance
BN Brookfield	$64,943,695	$41,427,757 ▼	-38.9%	1,131,044	0.7%	Finance
NWS News	$61,300,992	$6,245,088 ▼	-9.2%	2,014,492	0.6%	Consumer Discretionary
AZO AutoZone	$60,950,070	$6,026,164 ▼	-9.0%	19,035	0.6%	Retail/Wholesale
CIGI Colliers International Group	$59,041,905	$429,029 ▼	-0.7%	434,596	0.6%	Finance
MKTX MarketAxess	$55,215,017	$36,373,001 ▼	-39.7%	244,271	0.6%	Finance
EYE National Vision	$48,719,116	$28,296,364 ▲	138.6%	4,675,539	0.5%	Consumer Staples
BRK.B Berkshire Hathaway	$47,980,141	$11,659,268 ▼	-19.5%	105,851	0.5%	Finance
TSLX Sixth Street Specialty Lending	$46,699,952	$797,515 ▲	1.7%	2,192,486	0.5%	Finance
WLY John Wiley & Sons	$44,926,493	$768,553 ▲	1.7%	1,027,831	0.5%	Consumer Staples
ATS ATS	$44,194,576	$344,227 ▼	-0.8%	1,450,528	0.4%	Industrials
ALRM Alarm.com	$42,489,958	$42,489,958 ▲	New Holding	698,848	0.4%	Industrials
CPRT Copart	$41,766,319	$1,028,716 ▲	2.5%	727,763	0.4%	Business Services
WCN Waste Connections	$39,185,996	$191,434 ▼	-0.5%	228,647	0.4%	Business Services
EL Estée Lauder Companies	$34,971,197	$3,489,794 ▼	-9.1%	466,407	0.4%	Consumer Staples
LABCORP HOLDINGS INC	$20,385,401	$490,286 ▲	2.5%	88,895	0.2%	COM SHS
MCD McDonald's	$17,617,485		0.0%	60,773	0.2%	Retail/Wholesale
BFAM Bright Horizons Family Solutions	$17,264,888	$17,264,888 ▲	New Holding	155,750	0.2%	Business Services
SNX TD SYNNEX	$16,873,543	$58,564,004 ▼	-77.6%	143,874	0.2%	Computer and Technology
EFA iShares MSCI EAFE ETF	$15,905,093	$15,905,093 ▲	New Holding	210,357	0.2%	Finance
BMO Bank of Montreal	$15,517,513		0.0%	160,000	0.2%	Finance
BA Boeing	$15,045,000	$6,195,000 ▲	70.0%	85,000	0.2%	Aerospace
HDB HDFC Bank	$14,997,138	$6,806,263 ▼	-31.2%	234,844	0.2%	Finance
ATAT Atour Lifestyle	$14,720,742	$853,489 ▼	-5.5%	547,443	0.1%	Consumer Discretionary
MMM 3M	$14,199,900	$1,290,900 ▲	10.0%	110,000	0.1%	Multi-Sector Conglomerates
FAF First American Financial	$10,068,887	$240,394 ▲	2.4%	161,257	0.1%	Finance
YMM Full Truck Alliance	$9,907,874	$9,304,129 ▲	1,541.1%	915,700	0.1%	Business Services
EVRI Everi	$9,884,389	$168,254 ▲	1.7%	731,635	0.1%	Business Services
LOW Lowe's Companies	$7,844,538	$742,128 ▼	-8.6%	31,785	0.1%	Retail/Wholesale
ENB Enbridge	$7,291,229	$258,687 ▲	3.7%	171,960	0.1%	Energy
EQC Equity Commonwealth	$6,735,250	$16,776 ▲	0.2%	3,805,226	0.1%	Finance
TRP TC Energy	$5,867,309	$2,242,590 ▼	-27.7%	126,025	0.1%	Energy
NTR Nutrien	$5,811,145	$1,542,188 ▲	36.1%	130,000	0.1%	Basic Materials
TU TELUS	$2,691,532	$556,964 ▲	26.1%	198,708	0.0%	Utilities
CNQ Canadian Natural Resources	$2,242,425	$984,916 ▲	78.3%	72,704	0.0%	Energy
BAM Brookfield Asset Management	$1,762,821	$80,706,763 ▼	-97.9%	32,536	0.0%	Finance
YUMC Yum China	$1,431,950	$400,582 ▼	-21.9%	29,727	0.0%	Retail/Wholesale
CW Curtiss-Wright	$602,214	$244,860 ▼	-28.9%	1,697	0.0%	Aerospace
TME Tencent Music Entertainment Group	$476,473	$110,719 ▲	30.3%	41,980	0.0%	Consumer Discretionary
LSTR Landstar System	$442,196		0.0%	2,573	0.0%	Transportation
CDW CDW	$329,284		0.0%	1,892	0.0%	Computer and Technology

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

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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