13F-HR 1 sep09.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: September 30, 2009 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: James R. Berman Title: General Counsel Phone: 212-475-8335 Signature, place and date of signing: New York, New York November 16, 2009 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: 171 Form 13F Information Table Value Total: $ 4,303,388 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 99 Cents Only Stores NDN COM 65440k106 24,966 1,856,205 SH Sole 1,856,205 99 Cents Only Stores NDN COM 65440k106 16,062 1,194,165 SH Defined 01 1,194,165 Aon Corp AOC COM 037389103 23,479 577,018 SH Sole 577,018 Aon Corp AOC COM 037389103 18,462 453,723 SH Defined 01 453,723 Apollo Group Inc CL A APOL CL A 037604105 72,316 981,617 SH Sole 981,617 Apollo Group Inc CL A APOL CL A 037604105 58,133 789,095 SH Defined 01 789,095 Atlantic Tele-Network INC ATNI COM NEW 049079205 7,361 137,803 SH Sole 137,803 Atlantic Tele-Network INC ATNI COM NEW 049079205 4,835 90,511 SH Defined 01 90,511 BB&T Corp BBT COM 054937107 22,805 837,194 SH Sole 837,194 BB&T Corp BBT COM 054937107 16,728 614,091 SH Defined 01 614,091 Brookfield Asset Management CL A LTD VT SH 112585104 139,624 6,148,107 SH Sole 6,148,107 Brookfield Asset Management CL A LTD VT SH 112585104 47,916 2,109,906 SH Defined 01 2,109,906 Brown and Brown Inc BRO COM 115236101 94,090 4,910,751 SH Sole 4,910,751 Brown and Brown Inc BRO COM 115236101 22,289 1,163,326 SH Defined 01 1,163,326 C.H. Robinson Worldwide Inc COM NEW 12541W209 62,615 1,084,245 SH Sole 1,084,245 C.H. Robinson Worldwide Inc COM NEW 12541W209 14,369 248,810 SH Defined 01 248,810 CB Richard Ellis Group Inc A CL A 12497T101 80,925 6,893,124 SH Sole 6,893,124 CB Richard Ellis Group Inc A CL A 12497T101 39,066 3,327,575 SH Defined 01 3,327,575 CR Bard Inc BCR COM 067383109 7,013 89,210 SH Sole 89,210 CR Bard Inc BCR COM 067383109 4,360 55,468 SH Defined 01 55,468 Chevron Corporation cvx COM 166764100 775 11,000 SH CALL Sole 11,000 Chevron Corporation cvx COM 166764100 563 8,000 SH CALL Defined 01 8,000 Chinacast Education Corp CAS COM 16946T109 108 14,885 SH Sole 14,885 Church & Dwight Co Inc CHD COM 171340102 83,496 1,471,553 SH Sole 1,471,553 Church & Dwight Co Inc CHD COM 171340102 21,363 376,506 SH Defined 01 376,506 Colgate-Palmolive Co CL COM 194162103 6,435 84,362 SH Sole 84,362 Colgate-Palmolive Co CL COM 194162103 7,214 94,578 SH Defined 01 94,578 Concur Technologies Inc. CNQ COM 206708109 7,926 199,355 SH Sole 199,355 Concur Technologies Inc. CNQ COM 206708109 5,733 144,190 SH Defined 01 144,190 Corporate Executive Board Co COM 21988R102 24,498 983,840 SH Sole 983,840 Corporate Executive Board Co COM 21988R102 5,945 238,747 SH Defined 01 238,747 Danaher Corporation DHR COM 235851102 8,091 120,180 SH Sole 120,180 Danaher Corporation DHR COM 235851102 8,923 132,544 SH Defined 01 132,544 Dentsply International Inc X COM 249030107 67,397 1,951,286 SH Sole 1,951,286 Dentsply International Inc X COM 249030107 19,491 564,297 SH Defined 01 564,297 Ebay Inc EBAY COM 278642103 5,367 227,400 SH CALL Sole 227,400 Ebay Inc EBAY COM 278642103 3,906 165,500 SH CALL Defined 01 165,500 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 3,613 67,000 SH CALL Sole 67,000 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 1,591 29,500 SH CALL Defined 01 29,500 Fairfax Financial Hldgs Ltd SUB VTG 303901102 11,278 30,421 SH Sole 30,421 Fairfax Financial Hldgs Ltd SUB VTG 303901102 8,159 22,008 SH Defined 01 22,008 Fastenal Co FAST COM 311900104 87,773 2,268,031 SH Sole 2,268,031 Fastenal Co FAST COM 311900104 21,797 563,221 SH Defined 01 563,221 Financial Select Sector Spdr SBI INT-FINL 81369Y605 13,316 891,300 SH CALL Sole 891,300 Financial Select Sector Spdr SBI INT-FINL 81369Y605 6,205 415,300 SH CALL Sole 415,300 Financial Select Sector Spdr SBI INT-FINL 81369Y605 10,141 678,800 SH CALL Defined 01 678,800 Financial Select Sector Spdr SBI INT-FINL 81369Y605 4,670 312,600 SH CALL Defined 01 312,600 Franklin Electric Co Inc FELE COM 353514102 65,559 2,285,073 SH Sole 2,285,073 Franklin Electric Co Inc FELE COM 353514102 17,854 622,297 SH Defined 01 622,297 Franklin Res Inc BEN COM 354613101 7,569 75,240 SH Sole 75,240 Franklin Res Inc BEN COM 354613101 8,524 84,730 SH Defined 01 84,730 General Electric Co. ge COM 369604103 7,205 438,800 SH CALL Sole 438,800 General Electric Co. ge COM 369604103 39,621 2,413,000 SH CALL Sole 2,413,000 General Electric Co. ge COM 369604103 31,382 1,911,200 SH CALL Defined 01 1,911,200 General Electric Co. ge COM 369604103 5,312 323,500 SH CALL Defined 01 323,500 HCC Insurance Holdings HCC COM 404132102 94,469 3,454,072 SH Sole 3,454,072 HCC Insurance Holdings HCC COM 404132102 29,547 1,080,329 SH Defined 01 1,080,329 Harry Winston Diamond Corp H COM 41587B100 6,846 817,883 SH Sole 817,883 Harry Winston Diamond Corp H COM 41587B100 4,431 529,400 SH Defined 01 529,400 Henry Schein HSIC COM 806407102 21,077 383,841 SH Sole 383,841 Henry Schein HSIC COM 806407102 14,399 262,235 SH Defined 01 262,235 IDEXX Laboratories Inc. IDX COM 45168D104 43,498 869,960 SH Sole 869,960 IDEXX Laboratories Inc. IDX COM 45168D104 9,329 186,572 SH Defined 01 186,572 IHS Inc Class A IHS CL A 451734107 77,122 1,508,346 SH Sole 1,508,346 IHS Inc Class A IHS CL A 451734107 22,740 444,743 SH Defined 01 444,743 ITT Educational Services ESI COM 45068B109 30,645 277,552 SH Sole 277,552 ITT Educational Services ESI COM 45068B109 22,170 200,795 SH Defined 01 200,795 Icon PLC - Sponsered ADR ICL SPONSORED ADR 45103T107 11,474 468,531 SH Sole 468,531 Icon PLC - Sponsered ADR ICL SPONSORED ADR 45103T107 7,903 322,701 SH Defined 01 322,701 Intel Corp INTC COM 458140100 9,012 460,500 SH CALL Sole 460,500 Intel Corp INTC COM 458140100 6,820 348,500 SH CALL Defined 01 348,500 Interface Inc CL A IFSIA CL A 458665106 246 29,600 SH Sole 29,600 Jarden Corp JAH COM 471109108 4,960 176,700 SH PUT Sole 176,700 Jarden Corp JAH COM 471109108 3,239 115,400 SH PUT Defined 01 115,400 Jones Lang Lasalle Inc JLL COM 48020Q107 41,667 879,610 SH Sole 879,610 Jones Lang Lasalle Inc JLL COM 48020Q107 28,791 607,800 SH Defined 01 607,800 K Swiss Inc CL A KSWS CL A 482686102 768 87,343 SH Sole 87,343 K Swiss Inc CL A KSWS CL A 482686102 462 52,557 SH Defined 01 52,557 Kirby Corp KEX COM 497266106 82,079 2,229,202 SH Sole 2,229,202 Kirby Corp KEX COM 497266106 21,937 595,786 SH Defined 01 595,786 Laboratory Corp of Amer Hldgs COM NEW 50540R409 99,268 1,510,935 SH Sole 1,510,935 Laboratory Corp of Amer Hldgs COM NEW 50540R409 33,160 504,712 SH Defined 01 504,712 Legg Mason Inc LM COM 524901105 3,952 127,353 SH Sole 127,353 Legg Mason Inc LM COM 524901105 4,426 142,647 SH Defined 01 142,647 Manitowo Inc MTW COM 563571108 16,823 1,776,500 SH CALL Sole 1,776,500 Manitowo Inc MTW COM 563571108 9,115 962,500 SH CALL Sole 962,500 Manitowo Inc MTW COM 563571108 11,975 1,264,500 SH CALL Defined 01 1,264,500 Manitowo Inc MTW COM 563571108 6,681 705,500 SH CALL Defined 01 705,500 Meredith Corp. mdp COM 589433101 74,251 2,480,005 SH Sole 2,480,005 Meredith Corp. mdp COM 589433101 18,846 629,469 SH Defined 01 629,469 Mettler Toledo International COM 592688105 812 8,965 SH Sole 8,965 Microsoft Corp MSFT COM 594918104 6,938 269,735 SH Sole 269,735 Microsoft Corp MSFT COM 594918104 5,429 211,062 SH Defined 01 211,062 Microsoft Corp MSFT COM 594918104 11,088 431,100 SH CALL Sole 431,100 Microsoft Corp MSFT COM 594918104 32,322 1,256,700 SH CALL Sole 1,256,700 Microsoft Corp MSFT COM 594918104 25,995 1,010,700 SH CALL Defined 01 1,010,700 Microsoft Corp MSFT COM 594918104 7,636 296,900 SH CALL Defined 01 296,900 Millipore Corporation MIL COM 601073109 71,049 1,010,229 SH Sole 1,010,229 Millipore Corporation MIL COM 601073109 17,412 247,575 SH Defined 01 247,575 Mohawk Industries Inc MHK COM 608190104 71,335 1,495,801 SH Sole 1,495,801 Mohawk Industries Inc MHK COM 608190104 18,148 380,541 SH Defined 01 380,541 Nike Inc. CL B NKE CL B 654106103 498 7,700 SH Sole 7,700 OReilly Automotive ORLY COM 686091109 114,910 3,179,571 SH Sole 3,179,571 OReilly Automotive ORLY COM 686091109 30,433 842,089 SH Defined 01 842,089 Omnicom Group Inc. omc COM 681919106 440 11,905 SH Sole 11,905 Orient Express Hotels Ltd -A CL A G67743107 4,423 384,239 SH Sole 384,239 Orient Express Hotels Ltd -A CL A G67743107 3,254 282,746 SH Defined 01 282,746 Patterson Cos Inc PDCO COM 703395103 86,242 3,164,845 SH Sole 3,164,845 Patterson Cos Inc PDCO COM 703395103 20,894 766,753 SH Defined 01 766,753 Paychex PAYX COM 704326107 81,401 2,802,087 SH Sole 2,802,087 Paychex PAYX COM 704326107 20,351 700,558 SH Defined 01 700,558 Perkinelmer Inc PKI COM 714046109 76,064 3,953,440 SH Sole 3,953,440 Perkinelmer Inc PKI COM 714046109 23,854 1,239,795 SH Defined 01 1,239,795 Pfizer Inc. pfe COM 717081103 19,090 1,153,500 SH CALL Sole 1,153,500 Pfizer Inc. pfe COM 717081103 43,651 2,637,500 SH CALL Sole 2,637,500 Pfizer Inc. pfe COM 717081103 14,010 846,500 SH CALL Defined 01 846,500 Pfizer Inc. pfe COM 717081103 33,580 2,029,000 SH CALL Defined 01 2,029,000 Philip Morris International In COM 718172109 18,375 377,000 SH CALL Sole 377,000 Philip Morris International In COM 718172109 13,209 271,000 SH CALL Defined 01 271,000 Polo Ralph Lauren RL CL A 731572103 68,123 889,098 SH Sole 889,098 Polo Ralph Lauren RL CL A 731572103 18,319 239,083 SH Defined 01 239,083 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 10,545 239,600 SH CALL Sole 239,600 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 1,928 43,800 SH CALL Sole 43,800 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 7,380 167,700 SH CALL Defined 01 167,700 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 1,826 41,500 SH CALL Defined 01 41,500 Quest Diagnostics DGX COM 74834L100 1,920 36,791 SH Sole 36,791 Quest Diagnostics DGX COM 74834L100 2,151 41,209 SH Defined 01 41,209 Rockwell Collins Inc. col COM 774341101 38,879 765,333 SH Sole 765,333 Rockwell Collins Inc. col COM 774341101 23,727 467,058 SH Defined 01 467,058 Roper Industries ROP COM 776696106 10,767 211,195 SH Sole 211,195 Roper Industries ROP COM 776696106 7,789 152,780 SH Defined 01 152,780 Sherwin Williams Co SHW COM 824348106 105,604 1,755,381 SH Sole 1,755,381 Sherwin Williams Co SHW COM 824348106 25,984 431,921 SH Defined 01 431,921 Signet Jewlers Ltd SIG SHS G81276100 47,604 1,807,974 SH Sole 1,807,974 Signet Jewlers Ltd SIG SHS G81276100 21,523 817,418 SH Defined 01 817,418 Sirona Dental Systems Inc. S COM 82966c103 421 14,135 SH Sole 14,135 Solera Holdings Inc SLH COM 83421A104 245 7,860 SH Sole 7,860 Staples Inc SPLS COM 855030102 16,892 727,463 SH Sole 727,463 Staples Inc SPLS COM 855030102 9,769 420,706 SH Defined 01 420,706 Strayer Education STRA COM 863236105 88,065 404,564 SH Sole 404,564 Strayer Education STRA COM 863236105 21,272 97,721 SH Defined 01 97,721 Stryker Corp. SYK COM 863667101 14,806 325,913 SH Sole 325,913 Stryker Corp. SYK COM 863667101 12,493 274,998 SH Defined 01 274,998 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 17,712 562,286 SH Sole 562,286 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 11,142 353,710 SH Defined 01 353,710 The Coca-cola Company ko COM 191216100 29,535 550,000 SH CALL Sole 550,000 The Coca-cola Company ko COM 191216100 22,742 423,500 SH CALL Defined 01 423,500 The Procter Gamble Company COM 742718109 2,053 35,450 SH Sole 35,450 The Procter Gamble Company COM 742718109 2,299 39,690 SH Defined 01 39,690 The Washington Post Co. wpo CL B 939640108 83,041 177,408 SH Sole 177,408 The Washington Post Co. wpo CL B 939640108 21,550 46,039 SH Defined 01 46,039 Thermo Fisher Scientic Inc. COM 883556102 99,678 2,282,535 SH Sole 2,282,535 Thermo Fisher Scientic Inc. COM 883556102 42,051 962,923 SH Defined 01 962,923 Transocean Ltd. RIG REG SHS H8817H100 7,612 89,000 SH PUT Sole 89,000 Transocean Ltd. RIG REG SHS H8817H100 6,543 76,500 SH PUT Defined 01 76,500 US Bancorp USB COM NEW 902973304 2,138 97,815 SH Sole 97,815 US Bancorp USB COM NEW 902973304 2,335 106,833 SH Defined 01 106,833 Ultrashort Basic Materials P PSHS BASIC MTRL 74347R651 18,839 1,720,500 SH CALL Sole 1,720,500 Ultrashort Basic Materials P PSHS BASIC MTRL 74347R651 13,173 1,203,000 SH CALL Defined 01 1,203,000 United States Oil Fund LP Unit UNITS 91232N108 6,308 174,300 SH CALL Sole 174,300 United States Oil Fund LP Unit UNITS 91232N108 24,363 673,200 SH CALL Sole 673,200 United States Oil Fund LP Unit UNITS 91232N108 4,603 127,200 SH CALL Defined 01 127,200 United States Oil Fund LP Unit UNITS 91232N108 17,592 486,100 SH CALL Defined 01 486,100 VCA Antech Inc. WOOF COM 918194101 58,642 2,180,811 SH Sole 2,180,811 VCA Antech Inc. WOOF COM 918194101 14,305 531,984 SH Defined 01 531,984 Waters Corp WAT COM 941848103 13,766 246,445 SH Sole 246,445 Waters Corp WAT COM 941848103 8,928 159,835 SH Defined 01 159,835 Williams Sonoma Inc WSM COM 969904101 46,953 2,320,959 SH Sole 2,320,959 Williams Sonoma Inc WSM COM 969904101 10,027 495,635 SH Defined 01 495,635 Zep Inc ZEP COM 98944B108 2,518 154,941 SH Sole 154,941 Zep Inc ZEP COM 98944B108 1,729 106,377 SH Defined 01 106,377