13F-HR 1 september07.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, 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 November 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: 160 Form 13F Information Table Value Total: $ 6,671,201 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Agco Corp AG COM 001084102 2292 45140 SH Sole 45140 Agco Corp AG COM 001084102 1878 37000 SH Defined 01 37000 Align Technology Inc ALGN COM 016255101 32075 1266298 SH Sole 1266298 Align Technology Inc ALGN COM 016255101 36006 1421478 SH Defined 01 1421478 Ambassadors International AM COM 023178106 2137 87117 SH Sole 87117 Ambassadors International AM COM 023178106 1749 71318 SH Defined 01 71318 American Express Co AXP COM 025816109 3261 54935 SH Sole 54935 American Express Co AXP COM 025816109 3190 53725 SH Defined 01 53725 American Standard Cos Inc AS COM 029712106 16075 451290 SH Sole 451290 American Standard Cos Inc AS COM 029712106 13216 371025 SH Defined 01 371025 Atwood Oceanics Inc ATW COM 050095108 16758 218883 SH Sole 218883 Atwood Oceanics Inc ATW COM 050095108 13752 179627 SH Defined 01 179627 Bright Horizons Family Solutio COM 109195107 33188 774688 SH Sole 768263 6425 Bright Horizons Family Solutio COM 109195107 1871 43685 SH Defined 01 43685 Brookfield Asset Management BA CL A LTD VT SH 112585104 111022 2883701 SH Sole 2883701 Brookfield Asset Management BA CL A LTD VT SH 112585104 95716 2486142 SH Defined 01 2486142 Brookfield Properties Corp B COM 112900105 9999 401552 SH Sole 401552 Brookfield Properties Corp B COM 112900105 8184 328685 SH Defined 01 328685 Brown and Brown Inc BRO COM 115236101 206952 7868890 SH Sole 7821190 47700 Brown and Brown Inc BRO COM 115236101 48758 1853926 SH Defined 01 1853926 C.H. Robinson Worldwide Inc COM NEW 12541W209 112455 2071367 SH Sole 2057312 14055 C.H. Robinson Worldwide Inc COM NEW 12541W209 14270 262840 SH Defined 01 262840 CB Richard Ellis Group Inc A CL A 12497t101 223660 8033750 SH Sole 7995750 38000 CB Richard Ellis Group Inc A CL A 12497t101 80112 2877583 SH Defined 01 2877583 Central European Media Ent-A CL A NEW G20045202 3769 41100 SH Sole 41100 Central European Media Ent-A CL A NEW G20045202 3109 33900 SH Defined 01 33900 CitiGroup Inc C CALL 172967101 10687 229000 SH CALL Sole 229000 CitiGroup Inc C CALL 172967101 37079 794500 SH CALL Sole 794500 CitiGroup Inc C CALL 172967101 36333 778500 SH CALL Defined 01 778500 CitiGroup Inc C CALL 172967101 9115 195300 SH CALL Defined 01 195300 Cooper Industries LTD - CL A CL A G24182100 273483 5352969 SH Sole 5322804 30165 Cooper Industries LTD - CL A CL A G24182100 65539 1282817 SH Defined 01 1282817 Curtiss-Wright Corporation COM 231561101 2708 57010 SH Sole 57010 Curtiss-Wright Corporation COM 231561101 2223 46810 SH Defined 01 46810 Danaher Corporation COM 235851102 4483 54205 SH Sole 54205 Danaher Corporation COM 235851102 4384 53010 SH Defined 01 53010 Doral Financial Corp DRL COM NEW 25811P886 3327 151511 SH Sole 151511 Doral Financial Corp DRL COM NEW 25811P886 2612 118926 SH Defined 01 118926 Ebay Inc EBAY CALL 278642103 12338 316200 SH CALL Sole 316200 Ebay Inc EBAY CALL 278642103 10305 264100 SH CALL Defined 01 264100 Electronic Arts Inc ERTS COM 285512109 7358 131415 SH Sole 131415 Electronic Arts Inc ERTS COM 285512109 7196 128520 SH Defined 01 128520 Fastenal Co FAST COM 311900104 83889 1847371 SH Sole 1834856 12515 Fastenal Co FAST COM 311900104 10890 239820 SH Defined 01 239820 Fortune Brands Inc. CALL 349631101 42318 519300 SH CALL Sole 519300 Fortune Brands Inc. CALL 349631101 34446 422700 SH CALL Defined 01 422700 Franklin Electric Co Inc FELE COM 353514102 121606 2958070 SH Sole 2941165 16905 Franklin Electric Co Inc FELE COM 353514102 26570 646314 SH Defined 01 646314 General Cable Corp BGC COM 369300108 21860 325680 SH Sole 325680 General Cable Corp BGC COM 369300108 17920 266981 SH Defined 01 266981 Graco Inc GGG COM 384109104 65082 1664072 SH Sole 1654137 9935 Graco Inc GGG COM 384109104 13705 350424 SH Defined 01 350424 HCC Insurance Holdings HCC COM 404132102 15260 532812 SH Sole 532812 HCC Insurance Holdings HCC COM 404132102 17466 609830 SH Defined 01 609830 Henry Schein HSIC COM 806407102 14324 235442 SH Sole 235442 Henry Schein HSIC COM 806407102 16393 269452 SH Defined 01 269452 IDEXX Laboratories Inc. COM 45168D104 134136 1223984 SH Sole 1216594 7390 IDEXX Laboratories Inc. COM 45168D104 27357 249635 SH Defined 01 249635 IHS Inc Class A IHS CL A 451734107 55892 989408 SH Sole 983728 5680 IHS Inc Class A IHS CL A 451734107 3406 60295 SH Defined 01 60295 Icon PLC - Sponsered ADR ICL SPONSORED ADR 45103T107 12138 237862 SH Sole 237862 Icon PLC - Sponsered ADR ICL SPONSORED ADR 45103T107 9431 184808 SH Defined 01 184808 Idex Corp. IEX COM 45167R104 155351 4269071 SH Sole 4241506 27565 Idex Corp. IEX COM 45167R104 26701 733753 SH Defined 01 733753 International Game Technology COM 459902102 15876 368349 SH Sole 368349 International Game Technology COM 459902102 13049 302757 SH Defined 01 302757 Jones Lang Lasalle Inc JLL COM 48020Q107 32332 314640 SH Sole 314640 Jones Lang Lasalle Inc JLL COM 48020Q107 36504 355239 SH Defined 01 355239 KBW Inc. KBW COM 482423100 53840 1870731 SH Sole 1862826 7905 KBW Inc. KBW COM 482423100 11401 396159 SH Defined 01 396159 Kennametal Inc. KMT COM 489170100 34507 410897 SH Sole 410897 Kennametal Inc. KMT COM 489170100 30497 363141 SH Defined 01 363141 Kirby Corp KEX COM 497266106 223254 5057860 SH Sole 5032195 25665 Kirby Corp KEX COM 497266106 66157 1498795 SH Defined 01 1498795 Legg Mason Inc LM COM 524901105 8703 103251 SH Sole 103251 Legg Mason Inc LM COM 524901105 9961 118180 SH Defined 01 118180 Lehman Bros Holdings CALL 524908100 31464 509700 SH CALL Sole 509700 Lehman Bros Holdings CALL 524908100 25951 420400 SH CALL Defined 01 420400 MGIC Investment Corp MTG COM 552848103 6646 205700 SH PUT Sole 205700 MGIC Investment Corp MTG COM 552848103 8611 266500 SH PUT Defined 01 266500 Martin Marietta Materials ML COM 573284106 259337 1941872 SH Sole 1931302 10570 Martin Marietta Materials ML COM 573284106 70993 531582 SH Defined 01 531582 McGraw-Hill Companies Inc. COM 580645109 2336 45885 SH Sole 45885 McGraw-Hill Companies Inc. COM 580645109 2294 45055 SH Defined 01 45055 Medtronic Inc MDT COM 585055106 27063 479755 SH Sole 479755 Medtronic Inc MDT COM 585055106 29634 525340 SH Defined 01 525340 Meredith Corporation COM 589433101 139187 2429089 SH Sole 2414934 14155 Meredith Corporation COM 589433101 27706 483528 SH Defined 01 483528 Mettler Toledo International COM 592688105 456 4470 SH Sole 4470 Microsoft Corp MSFT COM 594918104 5486 186225 SH Sole 186225 Microsoft Corp MSFT COM 594918104 5365 182120 SH Defined 01 182120 Microsoft Corp MSFT COM 594918104 1090 37000 SH CALL Sole 37000 Microsoft Corp MSFT COM 594918104 3049 103500 SH CALL Sole 103500 Microsoft Corp MSFT COM 594918104 26753 908100 SH CALL Sole 908100 Microsoft Corp MSFT COM 594918104 30615 1039200 SH CALL Defined 01 1039200 Microsoft Corp MSFT COM 594918104 896 30400 SH CALL Defined 01 30400 Microsoft Corp MSFT COM 594918104 2504 85000 SH CALL Defined 01 85000 Millipore Corporation COM 601073109 326952 4313352 SH Sole 4289512 23840 Millipore Corporation COM 601073109 89011 1174294 SH Defined 01 1174294 Mohawk Industries Inc MHK COM 608190104 295310 3632344 SH Sole 3611997 20347 Mohawk Industries Inc MHK COM 608190104 72744 894757 SH Defined 01 894757 Moodys Investors Service MC COM 615369105 159642 3167503 SH Sole 3151948 15555 Moodys Investors Service MC COM 615369105 57319 1137273 SH Defined 01 1137273 Morgans Hotel Group MHGC COM 61748W108 4961 228078 SH Sole 228078 Morgans Hotel Group MHGC COM 61748W108 4982 229068 SH Defined 01 229068 Nastech Pharmaceutical Company COM PAR $0.006 631728409 2052 154198 SH Sole 154198 Nastech Pharmaceutical Company COM PAR $0.006 631728409 2349 176487 SH Defined 01 176487 Nike Inc. CL B NKE CL B 654106103 4620 78765 SH Sole 78765 Nike Inc. CL B NKE CL B 654106103 3785 64525 SH Defined 01 64525 OReilly Automotive ORLY COM 686091109 185388 5548869 SH Sole 5514189 34680 OReilly Automotive ORLY COM 686091109 37922 1135039 SH Defined 01 1135039 Omnicom GP Inc OMC COM 681919106 12076 251113 SH Sole 251113 Omnicom GP Inc OMC COM 681919106 10666 221797 SH Defined 01 221797 Onebeacon Insurance Group LT CL A G67742109 19832 920282 SH Sole 920282 Onebeacon Insurance Group LT CL A G67742109 16263 754668 SH Defined 01 754668 Orient Express Hotels Ltd -A CL A G67743107 4276 83400 SH Sole 83400 Orient Express Hotels Ltd -A CL A G67743107 3507 68400 SH Defined 01 68400 PSS World Medical Inc PSSI COM 69366a100 45670 2387354 SH Sole 2376859 10495 PSS World Medical Inc PSSI COM 69366a100 22307 1166088 SH Defined 01 1166088 Patterson Cos Inc PDCO COM 703395103 95542 2474546 SH Sole 2457271 17275 Patterson Cos Inc PDCO COM 703395103 9980 258479 SH Defined 01 258479 Polo Ralph Lauren RL CL A 731572103 103260 1328100 SH Sole 1322365 5735 Polo Ralph Lauren RL CL A 731572103 38775 498716 SH Defined 01 498716 Qiagen NV QGEN(F) ORD n72482107 208 10730 SH Sole 10730 R and G Financial Corp Cl B R COM 749136107 2033 1311900 SH Sole 1311900 R and G Financial Corp Cl B R COM 749136107 2368 1527980 SH Defined 01 1527980 Resources Connection Inc REC COM 76122Q105 11473 495600 SH Sole 495600 Resources Connection Inc REC COM 76122Q105 9420 406900 SH Defined 01 406900 Roper Industries ROP COM 776696106 76577 1169111 SH Sole 1160966 8145 Roper Industries ROP COM 776696106 9455 144355 SH Defined 01 144355 SEI Investments Company SEI COM 784117103 9590 351542 SH Sole 351542 SEI Investments Company SEI COM 784117103 10976 402354 SH Defined 01 402354 SPX Corp SPW COM 784635104 16243 175487 SH Sole 175487 SPX Corp SPW COM 784635104 13317 143876 SH Defined 01 143876 Steiner Leisure LTD STNR ORD P8744Y102 9415 216947 SH Sole 216947 Steiner Leisure LTD STNR ORD P8744Y102 7718 177841 SH Defined 01 177841 Techne TECH COM 878377100 55478 879481 SH Sole 872811 6670 Techne TECH COM 878377100 2803 44430 SH Defined 01 44430 Texas Pacific Land Trust TP SUB CTF PROP I T 882610108 9478 179163 SH Sole 179163 Texas Pacific Land Trust TP SUB CTF PROP I T 882610108 7728 146092 SH Defined 01 146092 The Cooper Cos Inc. COO COM NEW 216648402 1109 21162 SH Sole 21162 The Cooper Cos Inc. COO COM NEW 216648402 914 17438 SH Defined 01 17438 The PMI Group Inc PMI COM 69344M101 1570 48000 SH PUT Sole 48000 The PMI Group Inc PMI COM 69344M101 4856 148500 SH PUT Sole 148500 The PMI Group Inc PMI COM 69344M101 2040 62400 SH PUT Defined 01 62400 The PMI Group Inc PMI COM 69344M101 6383 195200 SH PUT Defined 01 195200 Thermo Fisher Scientic Inc. COM 883556102 203207 3520569 SH Sole 3500609 19960 Thermo Fisher Scientic Inc. COM 883556102 59373 1028641 SH Defined 01 1028641 Tiffany and Co TIF COM 886547108 73456 1403163 SH Sole 1393163 10000 Tiffany and Co TIF COM 886547108 6746 128865 SH Defined 01 128865 US Bancorp USB COM NEW 902973304 80268 2467500 SH PUT Sole 2467500 US Bancorp USB COM NEW 902973304 104060 3198900 SH PUT Defined 01 3198900 Umpqua Holdings Corp UMPQ COM 904214103 88716 4433601 SH Sole 4406771 26830 Umpqua Holdings Corp UMPQ COM 904214103 19754 987229 SH Defined 01 987229 VCA Antech Inc. WOOF COM 918194101 160021 3832844 SH Sole 3809804 23040 VCA Antech Inc. WOOF COM 918194101 32781 785173 SH Defined 01 785173 Wabtec Corp WAB COM 929740108 100091 2671942 SH Sole 2657212 14730 Wabtec Corp WAB COM 929740108 27359 730359 SH Defined 01 730359 Weight Watchers Intl Inc WT COM 948626106 57813 1004387 SH Sole 996802 7585 Weight Watchers Intl Inc WT COM 948626106 2925 50815 SH Defined 01 50815