9AT: BURGUNDY ASSET MANAGEMENT LTD.

other names

BURGUNDY ASSET MANAGEMENT LTD.
BEAUJOLAIS PRIVATE INVESTMENT MANAGEMENT
BMO BURGUNDY ASSET MANAGEMENT
BMO BURGUNDY

Adviser Profile

As of Date	01/28/2026
ADV Location	TORONTO, ONTARIO, Canada
Adviser Type - Large advisory firm - Outside the United States
Number of Employees	140 -4%
of those in investment advisory functions	49 -9%
Registration	SEC, Approved, 08/31/2001

AUM^*	19,093,067,539 -1%
of that, discretionary	19,093,067,539 -1%
Private Fund GAV^*	1,386,175,269 12%
Avg Account Size	5,725,058 -6%
% High Net Worth	47.42% 9%
SMA’s	Yes
Private Funds	5 1
Contact Info	(41 xxxxxxx
Websites

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- Other investment advisers
- Insurance companies
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count5	GAV$1,386,175,269

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser PEMBERTON CAPITAL ADVISORS LLP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund922.0m	Total Private Fund GAV922.0m	AUM25.1b	#Funds5
Adviser COMGEST ASSET MANAGEMENT INTERNATIONAL LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund9.7b	Total Private Fund GAV9.7b	AUM13.7b	#Funds23
Adviser WASATCH ADVISORS LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund188.0m	Total Private Fund GAV188.0m	AUM23.3b	#Funds5
Adviser T. ROWE PRICE JAPAN, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM24.1b	#Funds-
Adviser KUVARE ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM27.6b	#Funds-
Adviser BARING INTERNATIONAL INVESTMENT LTD	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund1.7b	Total Private Fund GAV1.7b	AUM22.6b	#Funds1
Adviser GREAT LAKES ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund52.4m	Total Private Fund GAV52.4m	AUM16.2b	#Funds3
Adviser BRANDES INVESTMENT PARTNERS, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.4b	Total Private Fund GAV2.4b	AUM40.6b	#Funds18
Adviser SPECTRUM ASSET MANAGEMENT, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund33.3m	Total Private Fund GAV33.3m	AUM18.3b	#Funds1
Adviser GABELLI FUNDS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund633.6m	Total Private Fund GAV633.6m	AUM24.6b	#Funds4

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78467J100	Stock NameSS&C TECHNOLOGIES HLDGS INC	$ Position$460,455,533	% Position4.00%	$ Change6.00%	# Change-1.00%
Stck Ticker74164M108	Stock NamePRIMERICA INC	$ Position$356,866,881	% Position3.00%	$ Change-2.00%	# Change-1.00%
Stck TickerG96629103	Stock NameWILLIS TOWERS WATSON PLC LTD	$ Position$286,750,382	% Position3.00%	$ Change5.00%	# Change-2.00%
Stck Ticker29084Q100	Stock NameEMCOR GROUP INC	$ Position$275,268,840	% Position3.00%	$ Change-3.00%	# Change-16.00%
Stck Ticker03073E105	Stock NameCENCORA INC	$ Position$174,893,972	% Position2.00%	$ Change-4.00%	# Change-2.00%
Stck Ticker01973R101	Stock NameALLISON TRANSMISSION HLDGS I	$ Position$193,035,949	% Position2.00%	$ Change-9.00%	# Change-1.00%
Stck Ticker04247X102	Stock NameARMSTRONG WORLD INDS INC NEW	$ Position$257,178,351	% Position2.00%	$ Change20.00%	# Change-1.00%
Stck Ticker285512109	Stock NameELECTRONIC ARTS INC	$ Position$167,371,659	% Position2.00%	$ Change6.00%	# Change-2.00%
Stck Ticker379577208	Stock NameGLOBUS MED INC	$ Position$212,054,428	% Position2.00%	$ Change3.00%	# Change-1.00%
Stck Ticker371901109	Stock NameGENTEX CORP	$ Position$221,948,775	% Position2.00%	$ Change27.00%	# Change-1.00%

Brochure Summary

Overview

Burgundy is an independent, value-focused global investment manager committed to preserving our clients’ capital while providing long-term strong investment returns. Burgundy manages investments globally with the belief that owning outstanding businesses, at attractive valuations, generates strong long-term performance. Burgundy was incorporated in 1990 and commenced investment management operations in Toronto, Canada in May 1991. Since the firm’s inception, Burgundy has remained 100% independent and employee-owned. Burgundy’s senior partners are the firm’s majority shareholders. The senior partners are: Tony Arrell (who holds shares through a personal holding company, Laucam Holdings Ltd.), Robert Sankey, Richard Rooney (who holds shares through his personal holding company, 1000532722 Ontario Inc.), David Vanderwood (who holds shares through a personal partnership, Bam DV Investment Partnership 2), Craig Pho, Ken Broekaert (who holds shares through a personal partnership, Bamvest KB Investment Partnership), Anne-Mette de Place Filippini, Jennifer Dunsdon, Steve Boutin, and Kyle Coatsworth. The principal owners are Tony Arrell (who holds shares through a personal holding company, Laucam Holdings Ltd.) and Richard Rooney (who holds shares through his personal holding company, 1000532722 Ontario Inc.) Types of services offered Burgundy offers discretionary investment management services to institutions (foundations,

endowments and pension funds) and private individuals through separately managed accounts and commingled funds. Commingled Funds Burgundy has created a series of commingled products that are managed in accordance with their stated investment objectives and strategies and are not tailored to any particular investor. Burgundy’s commingled products are designed to be an efficient and cost-effective method of investing, and are not subject to sales or redemption charges. Separately Managed Accounts For accounts with very specific needs that may not be met through our commingled products, we offer separately managed portfolios holding individual securities directly. The investments for each separate account are managed in accordance with a client’s investment objectives and various restrictions and limitations that are negotiated with or provided by such client. Such restrictions and investment limitations are monitored by Burgundy using compliance systems and other techniques, and may be changed from time to time as Burgundy and the client may agree or according to the client’s instructions or specific restrictions, as the case may be. Assets Under Management As of June 30, 2023, Burgundy managed approximately US$19 billion in assets, on a discretionary basis. Burgundy does not manage any assets on a non-discretionary basis. Wrap Fee Programs Burgundy does not participate in wrap fee programs.

BURGUNDY ASSET MANAGEMENT LTD.

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