13F-HR 1 june07.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2007 Check here if Amendment [ ]; Amendment Number: The Amendment (check only one): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment manager Filing this Report: Name: Select Equity Group, Inc. Address: 380 Lafayette St., 6th Floor New York, NY 10003 13F File Number: The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person signing this report on behalf of Reporting Manager: Name: George S. Loening Title: President Phone: 212-475-8335 Signature, place and date of signing: New York, New York August 14, 2007 Report Type (check only one): [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Select Equity Group, Inc. Report Summary: Number of Other Included managers: 1 Form 13F Information Table Entry Total: 179 Form 13F Information Table Value Total: $ 7,040,762(Thousands) List of Other Included Managers: Select Offshore Advisors, LLC FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Align Technology Inc ALGN COM 016255101 42816 1772194 SH Sole 1772194 Align Technology Inc ALGN COM 016255101 46698 1932861 SH Defined 01 1932861 American Express Co AXP COM 025816109 875 14305 SH Sole 14305 Automatic Data Processing A COM 053015103 13247 273305 SH Sole 273305 Automatic Data Processing A COM 053015103 14763 304590 SH Defined 01 304590 BLACKROCK INC COM STK COM 09247X101 8315 53100 SH Sole 53100 BLACKROCK INC COM STK COM 09247X101 6483 41400 SH Defined 01 41400 Bright Horizons Family Solutio COM 109195107 33886 870886 SH Sole 863681 7205 Bright Horizons Family Solutio COM 109195107 1790 46000 SH Defined 01 46000 Brookfield Asset Management BA CL A LTD VT SH 112585104 64827 1624734 SH Sole 1624734 Brookfield Asset Management BA CL A LTD VT SH 112585104 50393 1262992 SH Defined 01 1262992 Brookfield Properties Corp B COM 112900105 4907 201847 SH Sole 201847 Brookfield Properties Corp B COM 112900105 3803 156440 SH Defined 01 156440 Brown and Brown Inc BRO COM 115236101 207736 8263156 SH Sole 8208096 55060 Brown and Brown Inc BRO COM 115236101 45473 1808793 SH Defined 01 1808793 C.H. Robinson Worldwide Inc COM NEW 12541W209 112467 2141408 SH Sole 2126108 15300 C.H. Robinson Worldwide Inc COM NEW 12541W209 15852 301825 SH Defined 01 301825 CB Richard Ellis Group Inc A CL A 12497t101 119571 3275920 SH Sole 3254165 21755 CB Richard Ellis Group Inc A CL A 12497t101 21958 601576 SH Defined 01 601576 Carlisle Companies CSL COM 142339100 22167 476600 SH Sole 476600 Carlisle Companies CSL COM 142339100 17297 371900 SH Defined 01 371900 CitiGroup Inc C CALL 172967101 19492 384000 SH CALL Sole 384000 CitiGroup Inc C CALL 172967101 15208 299600 SH CALL Defined 01 299600 Cooper Industries LTD - CL A CL A G24182100 185696 3252681 SH Sole 3232481 20200 Cooper Industries LTD - CL A CL A G24182100 41259 722697 SH Defined 01 722697 Dade Behring Hlds DADE COM 23342J206 450 8480 SH Sole 8480 Danaher Corporation COM 235851102 33423 442685 SH Sole 442685 Danaher Corporation COM 235851102 36507 483542 SH Defined 01 483542 Doral Financial Corp DRL COM 25811p100 3594 3046143 SH Sole 3046143 Doral Financial Corp DRL COM 25811p100 2788 2362657 SH Defined 01 2362657 Ebay Inc EBAY COM 278642103 10384 322700 SH CALL Sole 322700 Ebay Inc EBAY COM 278642103 8032 249600 SH CALL Defined 01 249600 Electronic Arts Inc ERTS COM 285512109 992 20965 SH Sole 20965 Fastenal Co FAST COM 311900104 114361 2731997 SH Sole 2718502 13495 Fastenal Co FAST COM 311900104 21245 507527 SH Defined 01 507527 First Republic Bank FRC COM 336158100 27518 512825 SH Sole 512825 First Republic Bank FRC COM 336158100 4310 80315 SH Defined 01 80315 Fortune Brands Inc. COM 349631101 43022 522300 SH CALL Sole 522300 Fortune Brands Inc. COM 349631101 33541 407200 SH CALL Defined 01 407200 Franklin Electric Co Inc FELE COM 353514102 133594 2831573 SH Sole 2813228 18345 Franklin Electric Co Inc FELE COM 353514102 26850 569089 SH Defined 01 569089 General Electric Company CALL 369604103 34157 892300 SH CALL Sole 892300 General Electric Company CALL 369604103 38092 995100 SH CALL Defined 01 995100 Graco Inc GGG COM 384109104 68823 1708621 SH Sole 1697831 10790 Graco Inc GGG COM 384109104 14728 365644 SH Defined 01 365644 HCC Insurance Holdings HCC COM 404132102 17600 526792 SH Sole 526792 HCC Insurance Holdings HCC COM 404132102 19622 587300 SH Defined 01 587300 Healthways Inc HWAY COM 422245100 5655 119370 SH Sole 119370 Healthways Inc HWAY COM 422245100 4386 92600 SH Defined 01 92600 Henry Schein HSIC COM 806407102 24165 452265 SH Sole 452265 Henry Schein HSIC COM 806407102 26941 504222 SH Defined 01 504222 IAC/Interactive Corp IACI CALL 44919P300 5638 162900 SH CALL Sole 162900 IAC/Interactive Corp IACI CALL 44919P300 4423 127800 SH CALL Defined 01 127800 IDEXX Laboratories Inc. COM 45168D104 121687 1285923 SH Sole 1277888 8035 IDEXX Laboratories Inc. COM 45168D104 26580 280888 SH Defined 01 280888 IHS Inc Class A IHS CL A 451734107 85124 1850525 SH Sole 1839680 10845 IHS Inc Class A IHS CL A 451734107 16505 358811 SH Defined 01 358811 Icon PLC - Sponsered ADR ICL SPONSORED ADR 45103T107 8590 196382 SH Sole 196382 Icon PLC - Sponsered ADR ICL SPONSORED ADR 45103T107 6234 142518 SH Defined 01 142518 Idex Corp. IEX COM 45167R104 170855 4433182 SH Sole 4402402 30780 Idex Corp. IEX COM 45167R104 29622 768608 SH Defined 01 768608 Jones Lang Lasalle Inc JLL COM 48020Q107 28462 250766 SH Sole 250766 Jones Lang Lasalle Inc JLL COM 48020Q107 31347 276188 SH Defined 01 276188 KBW Inc. KBW COM 482423100 39680 1350588 SH Sole 1343713 6875 KBW Inc. KBW COM 482423100 8697 296025 SH Defined 01 296025 Kennametal Inc. KMT COM 489170100 16590 202245 SH Sole 202245 Kennametal Inc. KMT COM 489170100 12984 158285 SH Defined 01 158285 Kirby Corp KEX COM 497266106 188042 4898197 SH Sole 4872332 25865 Kirby Corp KEX COM 497266106 57285 1492178 SH Defined 01 1492178 Laureate Education Inc. LAU COM 518613104 199900 3241969 SH Sole 3230449 11520 Laureate Education Inc. LAU COM 518613104 112735 1828340 SH Defined 01 1828340 Legg Mason Inc LM COM 524901105 7344 74651 SH Sole 74651 Legg Mason Inc LM COM 524901105 7312 74320 SH Defined 01 74320 Lehman Bros Holdings CALL 524908100 ? 380600 SH CALL Sole 380600 Lehman Bros Holdings CALL 524908100 ? 297400 SH CALL Defined 01 297400 Lennox International Inc LII COM 526107107 10550 308200 SH Sole 308200 Lennox International Inc LII COM 526107107 8222 240200 SH Defined 01 240200 MGIC Investment Corp MTG COM 552848103 36447 641000 SH PUT Sole 641000 MGIC Investment Corp MTG COM 552848103 46534 818400 SH PUT Defined 01 818400 Martin Marietta Materials ML COM 573284106 155157 957643 SH Sole 953048 4595 Martin Marietta Materials ML COM 573284106 54056 333636 SH Defined 01 333636 McGraw-Hill Companies Inc. COM 580645109 19031 279539 SH Sole 279539 McGraw-Hill Companies Inc. COM 580645109 19338 284041 SH Defined 01 284041 Medtronic Inc MDT COM 585055106 30604 590130 SH Sole 590130 Medtronic Inc MDT COM 585055106 30746 592865 SH Defined 01 592865 Meredith Corporation COM 589433101 142000 2305189 SH Sole 2289589 15600 Meredith Corporation COM 589433101 27726 450093 SH Defined 01 450093 Mettler Toledo International COM 592688105 20688 216610 SH Sole 216610 Mettler Toledo International COM 592688105 15721 164605 SH Defined 01 164605 Microsoft Corp MSFT COM 594918104 854 28985 SH Sole 28985 Microsoft Corp MSFT COM 594918104 4892 166000 SH CALL Sole 166000 Microsoft Corp MSFT COM 594918104 13848 469900 SH CALL Sole 469900 Microsoft Corp MSFT COM 594918104 36174 1227500 SH CALL Sole 1227500 Microsoft Corp MSFT COM 594918104 40341 1368900 SH CALL Defined 01 1368900 Microsoft Corp MSFT COM 594918104 3752 127300 SH CALL Defined 01 127300 Microsoft Corp MSFT COM 594918104 10674 362200 SH CALL Defined 01 362200 Millipore Corporation COM 601073109 330713 4404219 SH Sole 4378254 25965 Millipore Corporation COM 601073109 89497 1191860 SH Defined 01 1191860 Mohawk Industries Inc MHK COM 608190104 331680 3290799 SH Sole 3269732 21067 Mohawk Industries Inc MHK COM 608190104 70492 699393 SH Defined 01 699393 Monster Worldwide Inc MNST CALL 611742107 8927 217200 SH CALL Sole 217200 Monster Worldwide Inc MNST CALL 611742107 6884 167500 SH CALL Defined 01 167500 Moodys Investors Service MC COM 615369105 137322 2207754 SH Sole 2194119 13635 Moodys Investors Service MC COM 615369105 30485 490115 SH Defined 01 490115 Morgans Hotel Group MHGC COM 61748W108 3514 144155 SH Sole 144155 Morgans Hotel Group MHGC COM 61748W108 3326 136435 SH Defined 01 136435 Nastech Pharmaceutical Company COM PAR $0.006 631728409 1706 156340 SH Sole 156340 Nastech Pharmaceutical Company COM PAR $0.006 631728409 1902 174345 SH Defined 01 174345 Nike Inc. CL B NKE CL B 654106103 587 10070 SH Sole 10070 OReilly Automotive ORLY COM 686091109 213194 5832933 SH Sole 5796428 36505 OReilly Automotive ORLY COM 686091109 41896 1146269 SH Defined 01 1146269 Onebeacon Insurance Group LT CL A G67742109 11912 470265 SH Sole 470265 Onebeacon Insurance Group LT CL A G67742109 9272 366040 SH Defined 01 366040 Orient Express Hotels Ltd -A CL A G67743107 10878 203716 SH Sole 203716 Orient Express Hotels Ltd -A CL A G67743107 8502 159209 SH Defined 01 159209 PSS World Medical Inc PSSI COM 69366a100 94857 5206224 SH Sole 5179629 26595 PSS World Medical Inc PSSI COM 69366a100 36989 2030134 SH Defined 01 2030134 Patterson Cos Inc PDCO COM 703395103 137400 3686619 SH Sole 3662469 24150 Patterson Cos Inc PDCO COM 703395103 26681 715896 SH Defined 01 715896 Polo Ralph Lauren RL CL A 731572103 8495 86585 SH Sole 86585 Polo Ralph Lauren RL CL A 731572103 6624 67515 SH Defined 01 67515 Pool Corporation POOL COM 73278L105 112103 2872215 SH Sole 2854215 18000 Pool Corporation POOL COM 73278L105 24399 625144 SH Defined 01 625144 Qiagen NV QGEN(F) ORD n72482107 191 10730 SH Sole 10730 R and G Financial Corp Cl B R CL B 749136107 4902 1324845 SH Sole 1324845 R and G Financial Corp Cl B R CL B 749136107 5606 1515035 SH Defined 01 1515035 Radian Group Inc RDN COM 750236101 20207 374200 SH PUT Sole 374200 Radian Group Inc RDN COM 750236101 25855 478800 SH PUT Defined 01 478800 Roper Industries ROP COM 776696106 184321 3228038 SH Sole 3210688 17350 Roper Industries ROP COM 776696106 67057 1174382 SH Defined 01 1174382 Southcoast Financial Corp SO COM 84129R100 5245 252402 SH Sole 252402 Southcoast Financial Corp SO COM 84129R100 4054 195109 SH Defined 01 195109 Stryker Corp. SYK COM 863667101 314 4975 SH Sole 4975 Techne TECH COM 878377100 50688 885996 SH Sole 878766 7230 Techne TECH COM 878377100 2682 46885 SH Defined 01 46885 Tennant Co TNC COM 880345103 6070 166300 SH Sole 166300 Tennant Co TNC COM 880345103 4723 129400 SH Defined 01 129400 Texas Pacific Land Trust TP SUB CTF PROP I T 882610108 12147 39503 SH Sole 39503 Texas Pacific Land Trust TP SUB CTF PROP I T 882610108 9437 30688 SH Defined 01 30688 The PMI Group Inc PMI COM 69344M101 27083 606300 SH PUT Sole 606300 The PMI Group Inc PMI COM 69344M101 10828 242400 SH PUT Sole 242400 The PMI Group Inc PMI COM 69344M101 34494 772200 SH PUT Defined 01 772200 The PMI Group Inc PMI COM 69344M101 13852 310100 SH PUT Defined 01 310100 Thermo Fisher Scientic Inc. COM 883556102 147405 2850055 SH Sole 2831080 18975 Thermo Fisher Scientic Inc. COM 883556102 34057 658484 SH Defined 01 658484 Tiffany and Co TIF COM 886547108 70945 1337062 SH Sole 1326247 10815 Tiffany and Co TIF COM 886547108 3760 70865 SH Defined 01 70865 Umpqua Holdings Corp UMPQ COM 904214103 101966 4337143 SH Sole 4306753 30390 Umpqua Holdings Corp UMPQ COM 904214103 27589 1173500 SH Defined 01 1173500 VCA Antech Inc. WOOF COM 918194101 146990 3899978 SH Sole 3875203 24775 VCA Antech Inc. WOOF COM 918194101 30054 797388 SH Defined 01 797388 Wabtec Corp WAB COM 929740108 14217 389181 SH Sole 389181 Wabtec Corp WAB COM 929740108 11128 304619 SH Defined 01 304619 Wal Mart Stores Inc. WMT COM 931142103 7654 159100 SH CALL Sole 159100 Wal Mart Stores Inc. WMT COM 931142103 5946 123600 SH CALL Defined 01 123600 Weight Watchers Intl Inc WT COM 948626106 66904 1315978 SH Sole 1307753 8225 Weight Watchers Intl Inc WT COM 948626106 14705 289237 SH Defined 01 289237 Yahoo! Inc. CALL 984332106 4398 162100 SH CALL Sole 162100 Yahoo! Inc. CALL 984332106 3421 126100 SH CALL Defined 01 126100 Zebra Technologies ZBRA CL A 989207105 5636 145490 SH Sole 145490 Zebra Technologies ZBRA CL A 989207105 6285 162237 SH Defined 01 162237 Babcock and Brown Wind Partner INTL B0LN825 174 105000 SH Sole 105000 EFG International - REG B0LF INTL B0LF188 411 8925 SH Sole 8925 Intertek Group PLC 3163836 INTL 3163836 8152 412900 SH Sole 412900 Intertek Group PLC 3163836 INTL 3163836 6383 323300 SH Defined 01 323300 Kuehne and Nagel Intl AG REG INTL B142S60 60785 660441 SH Sole 660441 Kuehne and Nagel Intl AG REG INTL B142S60 58766 638503 SH Defined 01 638503 LPS Brasil Cons De Imoveis INTL B1L86W3 14427 1109251 SH Sole 1109251 LPS Brasil Cons De Imoveis INTL B1L86W3 12680 974909 SH Defined 01 974909 Li and Fung Ltd HK 6286257 INTL 6286257 13606 3778612 SH Sole 3778612 Li and Fung Ltd HK 6286257 INTL 6286257 10602 2944310 SH Defined 01 2944310 Nobel Biocare Holding AG INTL 7385722 424 1297 SH Sole 1297 Orascom Telecom GDR 4007739 INTL 4007739 19302 298325 SH Sole 298325 Orascom Telecom GDR 4007739 INTL 4007739 15117 233640 SH Defined 01 233640 Power Corp of Canada 2697701 INTL 2697701 30744 831945 SH Sole 831945 Power Corp of Canada 2697701 INTL 2697701 23845 645255 SH Defined 01 645255 Sartorius AG 5843307 INTL 5843307 435 7165 SH Sole 7165 LPS Brasil Cons De Imoveis SWA B1L86W3 14427 1109251 SH Sole 1109251 LPS Brasil Cons De Imoveis SWA B1L86W3 12680 974909 SH Defined 01 974909