Burgundy Asset Management Ltd.
13F Reported Value
ⓘ$10.6B
Holdings
109
Latest Filing
2025-09-30
Filing Quarter
Q3 2025
Portfolio Overview
Burgundy Asset Management Ltd. disclosed 109 positions worth $10.6B in its Form 13F-HR for Q3 2025, led by $SSNC (SS&C Technologies Holdings Inc) at 4.3% of the equity portfolio, followed by $PRI and $WTW. During the quarter the fund opened 3 new positions and exited 3 — including a new stake in $DHR and a full exit from $HDB. The portfolio is most concentrated in Financials (18.8% of disclosed assets). All figures are sourced directly from Burgundy Asset Management Ltd.’s Form 13F-HR filing with the SEC under CIK 1315868.
AI Fund Analysis
Stable
$SSNC
$PRI
$WTW
$EME
$AWI
$MKTX
$SKY
$ALRM
$ATATSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q3 2025
Click any card to unlockTop Holdings
- 68.2#325
Quality
$460.5M5,193,498 sh - 67.0#383
Quality
$356.9M1,324,968 sh - —
Quality
$286.8M877,476 sh - 69.3
Quality
$275.3M443,982 sh - 65.7
Quality
$257.2M1,313,676 sh - 61.0
Quality
$245.2M8,477,474 sh - 67.8
Quality
$243.0M1,219,617 sh - 78.2
Quality
$238.0M1,117,913 sh - 58.4
Quality
$230.6M2,971,782 sh - 79.8
Quality
$230.1M454,086 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| SS&C Technologies Holdings Inc$SSNC | 68.2#325 | $460.5M | 5,193,498 |
| Primerica, Inc.$PRI | 67.0#383 | $356.9M | 1,324,968 |
| WILLIS TOWERS WATSON PLC$WTW | — | $286.8M | 877,476 |
| EMCOR Group, Inc.$EME | 69.3 | $275.3M | 443,982 |
| ARMSTRONG WORLD INDUSTRIES INC$AWI | 65.7 | $257.2M | 1,313,676 |
 OPENLANE, Inc.$OPLN | 61.0 | $245.2M | 8,477,474 |
 HOULIHAN LOKEY, INC.$HLI | 67.8 | $243.0M | 1,219,617 |
 Alphabet Inc.$GOOG | 78.2 | $238.0M | 1,117,913 |
 US Foods Holding Corp.$USFD | 58.4 | $230.6M | 2,971,782 |
 MICROSOFT CORP$MSFT | 79.8 | $230.1M | 454,086 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Burgundy Asset Management Ltd.'s 109 positions.
Showing top 10 of 109 holdings.
Sector Allocation
Financials
$2.0B
Technology
$1.7B
Consumer Discretionary
$1.7B
Industrials
$1.6B
Other
$1.1B
Healthcare
$688.9M
Consumer Staples
$622.2M
Communication Services
$564.9M
Full Holdings — Burgundy Asset Management Ltd. (Q3 2025)
All 109 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SSNC | SS&C Technologies Holdings Inc | $460.5M | 4.3% | -1% | 68.2 |
| 2 | $PRI | Primerica, Inc. | $356.9M | 3.4% | -1% | 67 |
| 3 | $WTW | WILLIS TOWERS WATSON PLC | $286.8M | 2.7% | -2% | — |
| 4 | $EME | EMCOR Group, Inc. | $275.3M | 2.6% | -16% | 69.3 |
| 5 | $AWI | ARMSTRONG WORLD INDUSTRIES INC | $257.2M | 2.4% | -1% | 65.7 |
| 6 | $OPLN | OPENLANE, Inc. | $245.2M | 2.3% | -18% | 61 |
| 7 | $HLI | HOULIHAN LOKEY, INC. | $243.0M | 2.3% | -1% | 67.8 |
| 8 | $GOOG | Alphabet Inc. | $238.0M | 2.3% | -2% | 78.2 |
| 9 | $USFD | US Foods Holding Corp. | $230.6M | 2.2% | +35% | 58.4 |
| 10 | $MSFT | MICROSOFT CORP | $230.1M | 2.2% | -11% | 79.8 |
| 11 |  $GNTX | GENTEX CORP | $221.9M | 2.1% | -1% | 64.7 |
| 12 | — | INTERCONTINENTAL EXCHANGE IN | $219.7M | 2.1% | -2% | — |
| 13 |  $WH | WYNDHAM HOTELS & RESORTS, INC. | $212.6M | 2.0% | -0% | 51.3 |
| 14 | — | GLOBUS MED INC | $212.1M | 2.0% | -1% | — |
| 15 |  $MDT | Medtronic plc | $202.7M | 1.9% | -2% | 68.7 |
| 16 |  $JNJ | JOHNSON & JOHNSON | $201.4M | 1.9% | -2% | 69 |
| 17 |  $LOPE | Grand Canyon Education, Inc. | $197.0M | 1.9% | -1% | 65.2 |
| 18 |  $ALSN | Allison Transmission Holdings Inc | $193.0M | 1.8% | -1% | 66.8 |
| 19 |  $MDLZ | Mondelez International, Inc. | $178.1M | 1.7% | -2% | 56.4 |
| 20 |  $COR | Cencora, Inc. | $174.9M | 1.6% | -2% | 61.1 |
| 21 |  $ROST | ROSS STORES, INC. | $172.2M | 1.6% | -2% | 70.4 |
| 22 |  $EA | ELECTRONIC ARTS INC. | $167.4M | 1.6% | -2% | 62.9 |
| 23 | — | PENSKE AUTOMOTIVE GRP INC | $163.4M | 1.5% | -1% | — |
| 24 |  $NWSA | NEWS CORP | $160.4M | 1.5% | -2% | 55.4 |
| 25 |  $CME | CME GROUP INC. | $153.3M | 1.4% | -2% | 69.5 |
| 26 |  $AMH | American Homes 4 Rent | $152.6M | 1.4% | -0% | 64.1 |
| 27 |  $AMZN | AMAZON COM INC | $152.3M | 1.4% | -2% | 68.7 |
| 28 |  $HSIC | HENRY SCHEIN INC | $151.0M | 1.4% | -2% | 58.8 |
| 29 |  $CBZ | CBIZ, Inc. | $149.4M | 1.4% | -0% | 58.8 |
| 30 |  $KVUE | Kenvue Inc. | $145.6M | 1.4% | -2% | 60.3 |
| 31 |  $TD | TORONTO DOMINION BANK | $142.3M | 1.3% | -1% | 80.5 |
| 32 |  $NYT | NEW YORK TIMES CO | $141.0M | 1.3% | -0% | 68.2 |
| 33 |  $WAB | WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP | $139.1M | 1.3% | +12% | 66.3 |
| 34 |  $SSD | Simpson Manufacturing Co., Inc. | $131.9M | 1.2% | -1% | 59.9 |
| 35 | $MKTX | MARKETAXESS HOLDINGS INC | $127.3M | 1.2% | +67% | 63.1 |
| 36 | — | LIGHT & WONDER INC | $125.8M | 1.2% | -17% | — |
| 37 | — | STRATEGIC ED INC | $123.4M | 1.2% | -1% | — |
| 38 |  $GNRC | GENERAC HOLDINGS INC. | $120.1M | 1.1% | -1% | 54.4 |
| 39 |  $MA | Mastercard Inc | $119.4M | 1.1% | -2% | 85.1 |
| 40 |  $RCI | ROGERS COMMUNICATIONS INC | $119.3M | 1.1% | -20% | — |
| 41 |  $BRK.A | BERKSHIRE HATHAWAY INC | $116.3M | 1.1% | +0% | 73.8 |
| 42 |  $EEFT | EURONET WORLDWIDE, INC. | $112.9M | 1.1% | -1% | 55.4 |
| 43 |  $HLMN | Hillman Solutions Corp. | $110.3M | 1.0% | -0% | 51.5 |
| 44 |  $QSR | Restaurant Brands International Inc. | $110.3M | 1.0% | +10% | 69.7 |
| 45 |  $NKE | NIKE, Inc. | $105.5M | 1.0% | -2% | 49.3 |
| 46 |  $ORCL | ORACLE CORP | $104.7M | 1.0% | -2% | 66.2 |
| 47 |  $TFC | TRUIST FINANCIAL CORP | $93.9M | 0.9% | -2% | 76.4 |
| 48 |  $STN | STANTEC INC | $93.2M | 0.9% | -0% | — |
| 49 |  $RY | ROYAL BANK OF CANADA | $92.8M | 0.9% | -0% | 74.8 |
| 50 | — | IAC INC | $91.6M | 0.9% | -1% | — |
| 51 |  $PPG | PPG INDUSTRIES INC | $90.6M | 0.8% | -1% | 59.1 |
| 52 |  $GGG | GRACO INC | $84.3M | 0.8% | -0% | 63.4 |
| 53 |  $PG | PROCTER & GAMBLE Co | $83.3M | 0.8% | -2% | 64.6 |
| 54 |  $CNI | CANADIAN NATIONAL RAILWAY CO | $81.8M | 0.8% | +19% | — |
| 55 |  $GIB | CGI INC | $77.6M | 0.7% | +27% | — |
| 56 |  $CABO | Cable One, Inc. | $76.2M | 0.7% | -1% | 32.2 |
| 57 |  $CARR | CARRIER GLOBAL Corp | $76.0M | 0.7% | -14% | 56.6 |
| 58 |  $BNS | BANK OF NOVA SCOTIA | $74.8M | 0.7% | -0% | 71.1 |
| 59 |  $BN | BROOKFIELD Corp /ON/ | $73.0M | 0.7% | -0% | — |
| 60 |  $CIGI | Colliers International Group Inc. | $70.1M | 0.7% | -0% | — |
| 61 |  $NWS | NEWS CORP | $64.2M | 0.6% | -2% | 55.4 |
| 62 | $SKY | Champion Homes, Inc. | $63.7M | 0.6% | +1% | 60.6 |
| 63 |  $SYY | SYSCO CORP | $60.7M | 0.6% | -51% | 54.7 |
| 64 | — | D R HORTON INC | $59.4M | 0.6% | -3% | — |
| 65 |  $DV | DoubleVerify Holdings, Inc. | $58.7M | 0.6% | -0% | 61.6 |
| 66 | $ALRM | Alarm.com Holdings, Inc. | $58.6M | 0.6% | +1% | 57.1 |
| 67 | — | SIXTH STREET SPECIALTY LENDI | $57.8M | 0.5% | -1% | — |
| 68 |  $ATS | ATS Corp /ATS | $50.0M | 0.5% | -0% | — |
| 69 |  $DLTR | DOLLAR TREE, INC. | $49.4M | 0.5% | -2% | 68 |
| 70 |  $DHR | DANAHER CORP /DE/ | $48.7M | 0.5% | NEW | 64.8 |
| 71 |  $AZO | AUTOZONE INC | $47.5M | 0.5% | -2% | 66.2 |
| 72 |  $BRK.B | BERKSHIRE HATHAWAY INC | $47.1M | 0.4% | -4% | 73.8 |
| 73 |  $CRL | CHARLES RIVER LABORATORIES INTERNATIONAL, INC. | $45.5M | 0.4% | -1% | 43.8 |
| 74 |  $WCN | Waste Connections, Inc. | $41.4M | 0.4% | -0% | 68.2 |
| 75 |  $EL | ESTEE LAUDER COMPANIES INC | $40.4M | 0.4% | -2% | 51.2 |
| 76 | $ATAT | Atour Lifestyle Holdings Ltd | $30.2M | 0.3% | +22% | — |
| 77 |  $KLC | KinderCare Learning Companies, Inc. | $28.2M | 0.3% | +47% | 38.3 |
| 78 |  $LH | LABCORP HOLDINGS INC. | $26.0M | 0.3% | -2% | 65 |
| 79 |  $SNX | TD SYNNEX CORP | $23.5M | 0.2% | -1% | 58.4 |
| 80 |  $IBP | Installed Building Products, Inc. | $20.0M | 0.2% | -1% | 56.3 |
| 81 |  $BA | BOEING CO | $19.9M | 0.2% | +0% | 61.6 |
| 82 |  $JEF | Jefferies Financial Group Inc. | $19.1M | 0.2% | -2% | 57.5 |
| 83 |  $MCD | MCDONALDS CORP | $19.0M | 0.2% | +0% | 69 |
| 84 |  $MMM | 3M CO | $17.1M | 0.2% | +0% | 64.9 |
| 85 |  $CPRT | COPART INC | $15.6M | 0.1% | -2% | 69.1 |
| 86 | — | LANDSTAR SYS INC | $11.3M | 0.1% | +19% | — |
| 87 |  $ALGN | ALIGN TECHNOLOGY INC | $11.2M | 0.1% | NEW | 58.9 |
| 88 |  $NTR | Nutrien Ltd. | $9.5M | 0.1% | +0% | — |
| 89 |  $ENB | ENBRIDGE INC | $8.0M | 0.1% | +3% | 66.7 |
| 90 |  $EYE | National Vision Holdings, Inc. | $5.8M | 0.1% | -90% | 52.5 |
| 91 |  $YMM | Full Truck Alliance Co. Ltd. | $5.3M | 0.1% | -61% | — |
| 92 |  $TU | TELUS CORP | $3.4M | 0.0% | +5% | 48.2 |
| 93 |  $BIPC | Brookfield Infrastructure Corp | $2.8M | 0.0% | +8% | — |
| 94 | — | CANADIAN NAT RES LTD | $2.8M | 0.0% | +19% | — |
| 95 |  $KMX | CARMAX INC | $2.5M | 0.0% | +63% | 50 |
| 96 | — | GRANITE REAL ESTATE INVT TR | $2.3M | 0.0% | +0% | — |
| 97 |  $BAM | Brookfield Asset Management Ltd. | $2.2M | 0.0% | -11% | — |
| 98 |  $TRP | TC ENERGY CORP | $2.2M | 0.0% | +0% | — |
| 99 | — | VANGUARD INTL EQUITY INDEX F | $1.5M | 0.0% | +1% | — |
| 100 |  $CW | CURTISS WRIGHT CORP | $852,541 | 0.0% | +0% | 69.5 |
| 101 |  $YUMC | Yum China Holdings, Inc. | $517,142 | 0.0% | +12% | 61.2 |
| 102 |  $CDW | CDW Corp | $432,825 | 0.0% | +0% | 55.5 |
| 103 |  $FAF | First American Financial Corp | $421,146 | 0.0% | +0% | 72.6 |
| 104 |  $TME | Tencent Music Entertainment Group | $293,872 | 0.0% | -33% | — |
| 105 | — | THOMSON REUTERS CORP | $282,747 | 0.0% | +0% | — |
| 106 |  $META | Meta Platforms, Inc. | $277,012 | 0.0% | +0% | 79.6 |
| 107 |  $CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | $271,080 | 0.0% | NEW | 69.7 |
| 108 |  $SOBO | South Bow Corp | $229,103 | 0.0% | +0% | — |
| 109 |  $MIDD | MIDDLEBY Corp | $219,507 | 0.0% | +0% | 40.6 |
New Positions (3)
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