Burgundy Asset Management Ltd.

Registered investment adviser · Toronto, Ontario · CRD #114317

Form ADV data as of 2026-09-01

Regulatory assets

$19.09 billion

Total accounts

3,335

Employees

140

Disclosure events

Firm details

Website: https://x.com/burgundyasset?lang=en
Telephone: (416) 869-3222
SEC file number: 801-60503
Most recent Form ADV filing: 2026-01-28
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 1 disclosure question answered Yes, covering 1 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

SEC or CFTC found a violation of its regulations or statutes

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$19.09 billion
Non-discretionary regulatory assets under management	$0
Total regulatory assets under management	$19.09 billion
Discretionary accounts	3,335
Non-discretionary accounts	0
Total accounts	3,335
Regulatory assets under management attributable to non-U.S. persons	$16.17 billion

People

Total employees (excluding clerical)	140
Employees performing investment advisory functions (including research)	49
Employees who are registered representatives of a broker-dealer	0
Employees registered as investment adviser representatives with a state	0
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	0
Firms or persons who solicit advisory clients on the firm's behalf	0

Custody

Has custody of client cash or bank accounts	Yes
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$1.36 billion
Clients for whom the firm has custody	5
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	No
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No
Number of persons acting as qualified custodians for the firm's clients	1

How the firm is compensated

A percentage of assets under managementPerformance-based fees

Advisory services offered

Portfolio management for individuals and/or small businessesPortfolio management for pooled investment vehiclesPortfolio management for businesses or institutional clients

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Registered security-based swap dealerMajor security-based swap participantCommodity pool operator or commodity trading advisorFutures commission merchantBanking or thrift institutionTrust companyInsurance company or agencyPension consultantSponsor, general partner, or managing member of pooled investment vehicles

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys or sells for itself securities it also recommends to clients
Brokers or dealers selected under 8.C.(3) are related persons

Client types

Type of client	Clients	Assets
Individuals (other than high net worth individuals)	1,423	$521.9 million
High net worth individuals	1,583	$9.63 billion
Pooled investment vehicles (other than investment companies and BDCs)	5	$1.36 billion
Pension and profit sharing plans (not the participants or government plans)	70	$3.35 billion
Charitable organizations	221	$2.41 billion
Other investment advisers	Not reported	$889.3 million
Insurance companies	4	$155.6 million
Corporations or other businesses not listed above	28	$770.4 million