13F-HR 1 sep10.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, 2010 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 15, 2010 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: 164 Form 13F Information Table Value Total: $ 5,727,212 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Apogee Enterprises Inc APOG COM 037598109 527 57,569 SH Sole 57,569 Apogee Enterprises Inc APOG COM 037598109 418 45,669 SH Defined 01 45,669 Apollo Group Inc CL A APOL CL A 037604105 77,432 1,507,924 SH Sole 1,507,924 Apollo Group Inc CL A APOL CL A 037604105 67,248 1,309,600 SH Defined 01 1,309,600 Atlantic Tele-Network INC ATNI COM NEW 049079205 10,709 217,482 SH Sole 217,482 Atlantic Tele-Network INC ATNI COM NEW 049079205 7,186 145,946 SH Defined 01 145,946 Banco Santander SA - SPON ADR ADR 05964H105 15,009 1,185,516 SH Sole 1,185,516 Banco Santander SA - SPON ADR ADR 05964H105 14,753 1,165,334 SH Defined 01 1,165,334 Blackrock Inc COM STK BLK COM 09247X101 29,529 173,443 SH Sole 173,443 Blackrock Inc COM STK BLK COM 09247X101 27,645 162,377 SH Defined 01 162,377 Blackstone Group The COM UNIT LTD 09253U108 50,302 3,963,900 SH CALL Sole 3,963,900 Blackstone Group The COM UNIT LTD 09253U108 40,762 3,212,100 SH CALL Defined 01 3,212,100 Blount International BLT COM 095180105 49,101 3,857,118 SH Sole 3,857,118 Blount International BLT COM 095180105 17,477 1,372,883 SH Defined 01 1,372,883 Brookfield Asset Management CL A LTD VT SH 112585104 192,063 6,769,932 SH Sole 6,769,932 Brookfield Asset Management CL A LTD VT SH 112585104 67,931 2,394,480 SH Defined 01 2,394,480 C.H. Robinson Worldwide Inc COM NEW 12541W209 28,366 405,699 SH Sole 405,699 C.H. Robinson Worldwide Inc COM NEW 12541W209 12,297 175,868 SH Defined 01 175,868 CA Inc CA COM 12673p105 43,178 2,044,400 SH CALL Sole 2,044,400 CA Inc CA COM 12673p105 34,886 1,651,800 SH CALL Defined 01 1,651,800 CB Richard Ellis Group Inc A CL A 12497T101 6,994 382,597 SH Sole 382,597 CB Richard Ellis Group Inc A CL A 12497T101 6,102 333,833 SH Defined 01 333,833 CR Bard Inc BCR COM 067383109 68,573 842,105 SH Sole 842,105 CR Bard Inc BCR COM 067383109 18,181 223,277 SH Defined 01 223,277 Cisco Systems Inc CSCO COM 17275r102 10,602 484,100 SH CALL Sole 484,100 Cisco Systems Inc CSCO COM 17275r102 8,469 386,700 SH CALL Defined 01 386,700 Corelogic Inc CLGX COM 21871d103 35,235 1,838,963 SH Sole 1,838,963 Corelogic Inc CLGX COM 21871d103 11,669 609,038 SH Defined 01 609,038 Covidien Plc COV SHS G2554F105 2,306 57,384 SH Sole 57,384 Covidien Plc COV SHS G2554F105 2,178 54,201 SH Defined 01 54,201 Dentsply International Inc X COM 249030107 113,243 3,542,172 SH Sole 3,542,172 Dentsply International Inc X COM 249030107 33,784 1,056,752 SH Defined 01 1,056,752 Doral Financial Corp DRL COM NEW 25811P886 1,850 1,114,420 SH Sole 1,114,420 Doral Financial Corp DRL COM NEW 25811P886 1,495 900,685 SH Defined 01 900,685 Education Management Corp ED COM 28140M103 48,687 3,316,548 SH Sole 3,316,548 Education Management Corp ED COM 28140M103 47,614 3,243,440 SH Defined 01 3,243,440 Emc Corp. EMC COM 268648102 20,215 995,300 SH CALL Sole 995,300 Emc Corp. EMC COM 268648102 15,761 776,000 SH CALL Defined 01 776,000 Financial Select Sector Spdr SBI INT-FINL 81369Y605 92,095 6,420,200 SH PUT Sole 6,420,200 Financial Select Sector Spdr SBI INT-FINL 81369Y605 70,971 4,947,600 SH PUT Defined 01 4,947,600 Firstservice Corporation-VTG SUB VTG SH 33761N109 15,769 653,771 SH Sole 653,771 Firstservice Corporation-VTG SUB VTG SH 33761N109 10,410 431,612 SH Defined 01 431,612 Franklin Electric Co Inc FELE COM 353514102 5,705 172,035 SH Sole 172,035 Franklin Electric Co Inc FELE COM 353514102 4,609 139,005 SH Defined 01 139,005 Garmin Ltd GRMN SHS h2906t109 60,658 1,998,600 SH Sole 1,998,600 Garmin Ltd GRMN SHS h2906t109 24,080 793,410 SH Defined 01 793,410 Goldman Sachs Group Inc GS COM 38141g104 17,477 120,880 SH Sole 120,880 Goldman Sachs Group Inc GS COM 38141g104 14,219 98,345 SH Defined 01 98,345 Google Inc GOOG CL A 38259P508 10,187 19,375 SH Sole 19,375 Google Inc GOOG CL A 38259P508 9,964 18,950 SH Defined 01 18,950 Graco Inc GGG COM 384109104 66,378 2,091,973 SH Sole 2,091,973 Graco Inc GGG COM 384109104 20,871 657,760 SH Defined 01 657,760 HCC Insurance Holdings HCC COM 404132102 1,928 73,895 SH Sole 73,895 HCC Insurance Holdings HCC COM 404132102 528 20,247 SH Defined 01 20,247 HandR Block Inc HRB COM 093671105 6,915 534,000 SH CALL Sole 534,000 HandR Block Inc HRB COM 093671105 5,378 415,300 SH CALL Defined 01 415,300 Henry Schein HSIC COM 806407102 53,154 907,374 SH Sole 907,374 Henry Schein HSIC COM 806407102 52,059 888,680 SH Defined 01 888,680 Hewlett-packard Company hpq COM 428236103 28,010 665,787 SH Sole 665,787 Hewlett-packard Company hpq COM 428236103 27,404 651,383 SH Defined 01 651,383 I Shares Russell 2000 IWM RUSSELL 2000 464287655 3,004 44,529 SH Sole 44,529 IDEXX Laboratories Inc. IDX COM 45168D104 75,373 1,221,211 SH Sole 1,221,211 IDEXX Laboratories Inc. IDX COM 45168D104 20,707 335,500 SH Defined 01 335,500 IHS Inc Class A IHS CL A 451734107 93,815 1,379,629 SH Sole 1,379,629 IHS Inc Class A IHS CL A 451734107 26,768 393,651 SH Defined 01 393,651 Iberiabank Corp IBKC COM 450828108 2,773 55,474 SH Sole 55,474 Iberiabank Corp IBKC COM 450828108 1,338 26,770 SH Defined 01 26,770 Interface Inc CL A IFSIA CL A 458665106 33,785 2,374,190 SH Sole 2,374,190 Interface Inc CL A IFSIA CL A 458665106 10,521 739,348 SH Defined 01 739,348 Intl Speedway Corp CL A ISCA CL A 460335201 9,266 379,755 SH Sole 379,755 Intl Speedway Corp CL A ISCA CL A 460335201 6,208 254,435 SH Defined 01 254,435 Itt Corporation ITT COM 450911102 26,025 555,725 SH Sole 555,725 Itt Corporation ITT COM 450911102 17,749 379,005 SH Defined 01 379,005 Johnson Johnson jnj COM 478160104 1,115 18,000 SH CALL Sole 18,000 Johnson Johnson jnj COM 478160104 929 15,000 SH CALL Defined 01 15,000 Jones Lang Lasalle Inc JLL COM 48020Q107 9,389 108,830 SH Sole 108,830 Jones Lang Lasalle Inc JLL COM 48020Q107 9,172 106,318 SH Defined 01 106,318 K Swiss Inc CL A KSWS CL A 482686102 1,362 106,798 SH Sole 106,798 K Swiss Inc CL A KSWS CL A 482686102 1,103 86,500 SH Defined 01 86,500 Kirby Corp KEX COM 497266106 81,193 2,026,792 SH Sole 2,026,792 Kirby Corp KEX COM 497266106 22,119 552,154 SH Defined 01 552,154 Laboratory Corp of Amer Hldgs COM NEW 50540R409 114,968 1,465,862 SH Sole 1,465,862 Laboratory Corp of Amer Hldgs COM NEW 50540R409 36,910 470,611 SH Defined 01 470,611 Legg Mason Inc LM COM 524901105 1,295 42,720 SH Sole 42,720 Markel Corp MKL COM 570535104 9,758 28,319 SH Sole 28,319 Markel Corp MKL COM 570535104 6,982 20,262 SH Defined 01 20,262 Mastercard Inc. CL A MA CL A 57636Q104 3,905 17,435 SH Sole 17,435 Mastercard Inc. CL A MA CL A 57636Q104 3,818 17,045 SH Defined 01 17,045 Meredith Corporation mdp COM 589433101 54,119 1,624,717 SH Sole 1,624,717 Meredith Corporation mdp COM 589433101 16,366 491,326 SH Defined 01 491,326 Microsoft Corp MSFT COM 594918104 29,890 1,220,502 SH Sole 1,220,502 Microsoft Corp MSFT COM 594918104 29,362 1,198,922 SH Defined 01 1,198,922 Moodys Investors Service MC COM 615369105 20,446 818,500 SH CALL Sole 818,500 Moodys Investors Service MC COM 615369105 16,514 661,100 SH CALL Defined 01 661,100 Neustar Inc CL A NSR CL A 64126x201 27,219 1,094,874 SH Sole 1,094,874 Neustar Inc CL A NSR CL A 64126x201 25,105 1,009,861 SH Defined 01 1,009,861 OReilly Automotive ORLY COM 686091109 182,544 3,431,276 SH Sole 3,431,276 OReilly Automotive ORLY COM 686091109 52,449 985,890 SH Defined 01 985,890 Patterson Cos Inc PDCO COM 703395103 118,066 4,120,993 SH Sole 4,120,993 Patterson Cos Inc PDCO COM 703395103 37,246 1,300,049 SH Defined 01 1,300,049 Patterson Cos Inc PDCO COM 703395103 4,848 169,200 SH CALL Sole 169,200 Patterson Cos Inc PDCO COM 703395103 3,561 124,300 SH CALL Defined 01 124,300 Paychex PAYX COM 704326107 53,886 1,960,210 SH Sole 1,960,210 Paychex PAYX COM 704326107 16,046 583,705 SH Defined 01 583,705 Paychex PAYX COM 704326107 4,222 153,600 SH CALL Sole 153,600 Paychex PAYX COM 704326107 3,420 124,400 SH CALL Defined 01 124,400 Perkinelmer Inc PKI COM 714046109 117,222 5,065,789 SH Sole 5,065,789 Perkinelmer Inc PKI COM 714046109 51,069 2,206,977 SH Defined 01 2,206,977 Perrigo Co. prgo COM 714290103 51,645 804,186 SH Sole 804,186 Perrigo Co. prgo COM 714290103 18,386 286,295 SH Defined 01 286,295 Pfizer Inc. pfe COM 717081103 19,849 1,156,000 SH CALL Sole 1,156,000 Pfizer Inc. pfe COM 717081103 15,195 885,000 SH CALL Defined 01 885,000 Philip Morris International In COM 718172109 15,377 274,500 SH CALL Sole 274,500 Philip Morris International In COM 718172109 12,212 218,000 SH CALL Defined 01 218,000 Polo Ralph Lauren RL CL A 731572103 91,489 1,018,126 SH Sole 1,018,126 Polo Ralph Lauren RL CL A 731572103 26,359 293,335 SH Defined 01 293,335 Pool Corporation POOL COM 73278L105 35,479 1,767,771 SH Sole 1,767,771 Pool Corporation POOL COM 73278L105 10,725 534,374 SH Defined 01 534,374 Potash Corp of Saskatchewan COM 73755L107 36,730 255,000 SH PUT Sole 255,000 Potash Corp of Saskatchewan COM 73755L107 28,736 199,500 SH PUT Defined 01 199,500 Resources Connection Inc REC COM 76122Q105 1,749 127,115 SH Sole 127,115 Resources Connection Inc REC COM 76122Q105 1,369 99,470 SH Defined 01 99,470 Roper Industries ROP COM 776696106 6,218 95,393 SH Sole 95,393 Roper Industries ROP COM 776696106 6,079 93,269 SH Defined 01 93,269 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 74,631 1,395,500 SH PUT Sole 1,395,500 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 57,518 1,075,500 SH PUT Defined 01 1,075,500 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 54,410 1,287,500 SH PUT Sole 1,287,500 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 41,816 989,500 SH PUT Defined 01 989,500 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 215,304 6,444,300 SH PUT Sole 6,444,300 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 165,349 4,949,100 SH PUT Defined 01 4,949,100 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 201,415 6,439,100 SH PUT Sole 6,439,100 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 21,674 692,900 SH PUT Sole 692,900 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 154,808 4,949,100 SH PUT Defined 01 4,949,100 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 18,064 577,500 SH PUT Defined 01 577,500 Sherwin Williams Co SHW COM 824348106 119,620 1,591,957 SH Sole 1,591,957 Sherwin Williams Co SHW COM 824348106 33,238 442,344 SH Defined 01 442,344 Sigma-Aldrich Corporation SI COM 826552101 79,299 1,313,329 SH Sole 1,313,329 Sigma-Aldrich Corporation SI COM 826552101 25,361 420,022 SH Defined 01 420,022 Signet Jewlers Ltd SIG SHS G81276100 126,574 3,987,848 SH Sole 3,987,848 Signet Jewlers Ltd SIG SHS G81276100 37,082 1,168,291 SH Defined 01 1,168,291 Sirona Dental Systems Inc. S COM 82966c103 26,695 740,718 SH Sole 740,718 Sirona Dental Systems Inc. S COM 82966c103 26,091 723,953 SH Defined 01 723,953 Strayer Education STRA COM 863236105 43,263 247,925 SH Sole 247,925 Strayer Education STRA COM 863236105 10,779 61,770 SH Defined 01 61,770 Stryker Corp. SYK COM 863667101 6,403 127,935 SH Sole 127,935 Stryker Corp. SYK COM 863667101 6,421 128,282 SH Defined 01 128,282 Symantec Corp SYMC COM 871503108 6,627 438,000 SH CALL Sole 438,000 Symantec Corp SYMC COM 871503108 5,264 347,900 SH CALL Defined 01 347,900 Techne Corp TECH COM 878377100 2,220 35,960 SH Sole 35,960 Techne Corp TECH COM 878377100 1,732 28,065 SH Defined 01 28,065 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 23,566 588,696 SH Sole 588,696 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 14,882 371,777 SH Defined 01 371,777 The Coca-cola Company ko COM 191216100 31,320 535,200 SH CALL Sole 535,200 The Coca-cola Company ko COM 191216100 24,871 425,000 SH CALL Defined 01 425,000 The Interpublic Group Of Compa COM 460690100 86,222 8,596,369 SH Sole 8,596,369 The Interpublic Group Of Compa COM 460690100 26,263 2,618,399 SH Defined 01 2,618,399 Thermo Fisher Scientic Inc. COM 883556102 25,542 533,461 SH Sole 533,461 Thermo Fisher Scientic Inc. COM 883556102 24,866 519,350 SH Defined 01 519,350 Wabtec Corp WAB COM 929740108 87,663 1,834,341 SH Sole 1,834,341 Wabtec Corp WAB COM 929740108 26,699 558,666 SH Defined 01 558,666 West Marine Inc COM 954235107 6,501 639,840 SH Sole 639,840 West Marine Inc COM 954235107 4,918 484,082 SH Defined 01 484,082 Wright Express Corp WXS COM 98233Q105 54,873 1,536,636 SH Sole 1,536,636 Wright Express Corp WXS COM 98233Q105 16,276 455,786 SH Defined 01 455,786