13F-HR 1 sep11.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, 2011 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 14, 2011 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: 215 Form 13F Information Table Value Total: $ 5,294,584 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Ametek Inc. AME COM 031100100 94,648 2,870,729 SH Sole 2,870,729 Ametek Inc. AME COM 031100100 41,244 1,250,968 SH Defined 01 1,250,968 Amphenol Corporation CL A 032095101 48,209 1,182,456 SH Sole 1,182,456 Amphenol Corporation CL A 032095101 19,237 471,853 SH Defined 01 471,853 Anheuser-busch Companies Inc. SPONSORED ADR 03524A108 361 6,820 SH Sole 6,820 Apollo Group Inc CL A APOL CL A 037604105 5,414 136,694 SH Sole 136,694 Apollo Group Inc CL A APOL CL A 037604105 7,560 190,871 SH Defined 01 190,871 Banco Santander SA - SPON ADR ADR 05964H105 1,572 195,568 SH Sole 195,568 Blackrock Inc COM STK BLK COM 09247X101 1,723 11,641 SH Sole 11,641 Blackrock Inc COM STK BLK COM 09247X101 2,246 15,176 SH Defined 01 15,176 Blackstone Group The COM UNIT LTD 09253U108 13,135 1,096,400 SH CALL Sole 1,096,400 Blackstone Group The COM UNIT LTD 09253U108 13,058 1,090,000 SH CALL Defined 01 1,090,000 Blount International BLT COM 095180105 44,004 3,293,745 SH Sole 3,293,745 Blount International BLT COM 095180105 17,768 1,329,962 SH Defined 01 1,329,962 Brookfield Asset Management CL A LTD VT SH 112585104 144,354 5,239,715 SH Sole 5,239,715 Brookfield Asset Management CL A LTD VT SH 112585104 64,064 2,325,372 SH Defined 01 2,325,372 Brown and Brown Inc BRO COM 115236101 5,857 329,072 SH Sole 329,072 Brown and Brown Inc BRO COM 115236101 5,708 320,695 SH Defined 01 320,695 C.H. Robinson Worldwide Inc COM NEW 12541W209 45,038 657,778 SH Sole 657,778 C.H. Robinson Worldwide Inc COM NEW 12541W209 26,545 387,685 SH Defined 01 387,685 CBRE Group Inc CBG CL A 12497T101 56,215 4,176,455 SH Sole 3,943,432 233,023 CBRE Group Inc CBG CL A 12497T101 48,788 3,624,687 SH Defined 01 3,624,687 Chubb Corp CB COM 171232101 16,150 269,208 SH Sole 269,208 Chubb Corp CB COM 171232101 14,387 239,815 SH Defined 01 239,815 Compass Minerals International COM 20451N101 11,632 174,179 SH Sole 174,179 Compass Minerals International COM 20451N101 10,704 160,283 SH Defined 01 160,283 Computer Services Inc CSVI COM 20539a105 192 6,970 SH Sole 6,970 Computer Services Inc CSVI COM 20539a105 175 6,366 SH Defined 01 6,366 Covidien Plc COV SHS G2554F113 289 6,546 SH Sole 6,546 Danaher Corporation DHR COM 235851102 10,701 255,139 SH Sole 243,949 11,190 Danaher Corporation DHR COM 235851102 12,330 293,982 SH Defined 01 293,982 Dentsply International Inc X COM 249030107 66,603 2,170,200 SH Sole 2,170,200 Dentsply International Inc X COM 249030107 25,119 818,474 SH Defined 01 818,474 Doral Financial Corp DRL COM NEW 25811P886 790 724,790 SH Sole 724,790 Doral Financial Corp DRL COM NEW 25811P886 802 735,811 SH Defined 01 735,811 Ecolab Inc ECL COM 278865100 68,794 1,407,116 SH Sole 1,347,383 59,733 Ecolab Inc ECL COM 278865100 46,156 944,073 SH Defined 01 944,073 Education Management Corp ED COM 28140M103 27,808 1,873,842 SH Sole 1,669,956 203,886 Education Management Corp ED COM 28140M103 25,504 1,718,632 SH Defined 01 1,718,632 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 2,182 37,300 SH PUT Sole 37,300 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 8,414 143,800 SH PUT Sole 143,800 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 10,818 184,900 SH PUT Sole 184,900 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 2,165 37,000 SH PUT Defined 01 37,000 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 8,162 139,500 SH PUT Defined 01 139,500 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 10,544 180,200 SH PUT Defined 01 180,200 Expeditors Intl Wash Inc EXP COM 302130109 64,273 1,585,040 SH Sole 1,580,575 4,465 Expeditors Intl Wash Inc EXP COM 302130109 33,499 826,126 SH Defined 01 826,126 Financial Select Sector Spdr SBI INT-FINL 81369Y605 5,994 507,500 SH PUT Sole 507,500 Financial Select Sector Spdr SBI INT-FINL 81369Y605 21,706 1,837,900 SH PUT Sole 1,837,900 Financial Select Sector Spdr SBI INT-FINL 81369Y605 2,281 193,100 SH PUT Sole 193,100 Financial Select Sector Spdr SBI INT-FINL 81369Y605 6,093 515,900 SH PUT Sole 515,900 Financial Select Sector Spdr SBI INT-FINL 81369Y605 3,890 329,400 SH PUT Sole 329,400 Financial Select Sector Spdr SBI INT-FINL 81369Y605 5,831 493,700 SH PUT Sole 493,700 Financial Select Sector Spdr SBI INT-FINL 81369Y605 5,864 496,500 SH PUT Defined 01 496,500 Financial Select Sector Spdr SBI INT-FINL 81369Y605 21,211 1,796,000 SH PUT Defined 01 1,796,000 Financial Select Sector Spdr SBI INT-FINL 81369Y605 2,192 185,600 SH PUT Defined 01 185,600 Financial Select Sector Spdr SBI INT-FINL 81369Y605 3,649 309,000 SH PUT Defined 01 309,000 Financial Select Sector Spdr SBI INT-FINL 81369Y605 3,790 320,900 SH PUT Defined 01 320,900 Financial Select Sector Spdr SBI INT-FINL 81369Y605 5,639 477,500 SH PUT Defined 01 477,500 First Republic Bank FRC COM 33616C100 51,325 2,216,098 SH Sole 2,216,098 First Republic Bank FRC COM 33616C100 25,284 1,091,731 SH Defined 01 1,091,731 Firstservice Corporation-VTG SUB VTG SH 33761N109 18,173 706,584 SH Sole 706,584 Firstservice Corporation-VTG SUB VTG SH 33761N109 14,382 559,184 SH Defined 01 559,184 Garmin Ltd GRMN SHS h2906t109 112,745 3,548,789 SH Sole 3,548,789 Garmin Ltd GRMN SHS h2906t109 45,595 1,435,168 SH Defined 01 1,435,168 Google Inc GOOG CL A 38259P508 24,058 46,710 SH Sole 41,586 5,124 Google Inc GOOG CL A 38259P508 22,075 42,860 SH Defined 01 42,860 Graco Inc GGG COM 384109104 34,551 1,012,041 SH Sole 1,012,041 Graco Inc GGG COM 384109104 13,911 407,460 SH Defined 01 407,460 Harry Winston Diamond Corp H COM 41587B100 21,332 2,101,704 SH Sole 2,101,704 Harry Winston Diamond Corp H COM 41587B100 12,719 1,253,149 SH Defined 01 1,253,149 Henry Schein HSIC COM 806407102 72,797 1,173,956 SH Sole 1,045,179 128,777 Henry Schein HSIC COM 806407102 66,798 1,077,213 SH Defined 01 1,077,213 I Shares Russell 2000 IWM RUSSELL 2000 464287655 1,252 19,464 SH Sole 19,464 IDEXX Laboratories Inc. IDX COM 45168D104 58,965 854,935 SH Sole 854,935 IDEXX Laboratories Inc. IDX COM 45168D104 20,606 298,771 SH Defined 01 298,771 IHS Inc Class A IHS CL A 451734107 88,226 1,179,335 SH Sole 1,179,335 IHS Inc Class A IHS CL A 451734107 34,602 462,526 SH Defined 01 462,526 ITT Educational Services ESI COM 45068B109 95,354 1,656,025 SH Sole 1,544,179 111,846 ITT Educational Services ESI COM 45068B109 73,081 1,269,207 SH Defined 01 1,269,207 Interface Inc CL A IFSIA CL A 458665106 43,865 3,698,593 SH Sole 3,698,593 Interface Inc CL A IFSIA CL A 458665106 15,871 1,338,192 SH Defined 01 1,338,192 Intuit Inc INTU COM 461202103 30,831 649,893 SH Sole 649,893 Intuit Inc INTU COM 461202103 26,658 561,922 SH Defined 01 561,922 Ishares MSCI Emerging Markets MSCI EMERG MKT 464287234 58,746 1,673,900 SH PUT Sole 1,673,900 Ishares MSCI Emerging Markets MSCI EMERG MKT 464287234 57,247 1,631,200 SH PUT Defined 01 1,631,200 Itt Corporation ITT COM 450911102 30,355 722,735 SH Sole 722,735 Itt Corporation ITT COM 450911102 11,458 272,807 SH Defined 01 272,807 Jones Lang Lasalle Inc JLL COM 48020Q107 1,680 32,425 SH Sole 28,872 3,553 Jones Lang Lasalle Inc JLL COM 48020Q107 1,542 29,760 SH Defined 01 29,760 K Swiss Inc CL A KSWS CL A 482686102 600 141,169 SH Sole 141,169 K Swiss Inc CL A KSWS CL A 482686102 596 140,300 SH Defined 01 140,300 Kirby Corp KEX COM 497266106 117,963 2,240,929 SH Sole 2,240,929 Kirby Corp KEX COM 497266106 45,632 866,877 SH Defined 01 866,877 Laboratory Corp of Amer Hldgs COM NEW 50540R409 47,589 602,017 SH Sole 602,017 Laboratory Corp of Amer Hldgs COM NEW 50540R409 16,735 211,704 SH Defined 01 211,704 Markel Corp MKL COM 570535104 87,188 244,135 SH Sole 244,135 Markel Corp MKL COM 570535104 36,904 103,334 SH Defined 01 103,334 Materials Select Sector Spdr - SBI MATERIALS 81369y100 9,945 338,800 SH PUT Sole 338,800 Materials Select Sector Spdr - SBI MATERIALS 81369y100 58,455 1,991,300 SH PUT Sole 1,991,300 Materials Select Sector Spdr - SBI MATERIALS 81369y100 5,671 193,200 SH PUT Sole 193,200 Materials Select Sector Spdr - SBI MATERIALS 81369y100 9,702 330,500 SH PUT Defined 01 330,500 Materials Select Sector Spdr - SBI MATERIALS 81369y100 56,969 1,940,700 SH PUT Defined 01 1,940,700 Materials Select Sector Spdr - SBI MATERIALS 81369y100 5,557 189,300 SH PUT Defined 01 189,300 Micro Systems MCRS COM 594901100 16,207 368,919 SH Sole 368,919 Micro Systems MCRS COM 594901100 13,762 313,278 SH Defined 01 313,278 Mistras Group Inc MG COM 60649T107 7,225 411,438 SH Sole 411,438 Mistras Group Inc MG COM 60649T107 6,406 364,808 SH Defined 01 364,808 Moodys Investors Service MC COM 615369105 8,672 284,803 SH Sole 284,803 Moodys Investors Service MC COM 615369105 8,469 278,129 SH Defined 01 278,129 Moodys Investors Service MC COM 615369105 2,619 86,000 SH CALL Sole 86,000 Moodys Investors Service MC COM 615369105 2,588 85,000 SH CALL Defined 01 85,000 Neustar Inc CL A NSR CL A 64126x201 21,602 859,253 SH Sole 781,146 78,107 Neustar Inc CL A NSR CL A 64126x201 19,368 770,412 SH Defined 01 770,412 OReilly Automotive ORLY COM 67103H107 124,687 1,871,334 SH Sole 1,871,334 OReilly Automotive ORLY COM 67103H107 47,692 715,774 SH Defined 01 715,774 Patterson Cos Inc PDCO COM 703395103 76,156 2,660,007 SH Sole 2,660,007 Patterson Cos Inc PDCO COM 703395103 27,954 976,385 SH Defined 01 976,385 Paychex PAYX COM 704326107 31,737 1,203,527 SH Sole 1,203,527 Paychex PAYX COM 704326107 13,530 513,092 SH Defined 01 513,092 Perkinelmer Inc PKI COM 714046109 68,873 3,585,247 SH Sole 3,585,247 Perkinelmer Inc PKI COM 714046109 23,019 1,198,277 SH Defined 01 1,198,277 Perrigo Co. prgo COM 714290103 56,194 578,668 SH Sole 578,668 Perrigo Co. prgo COM 714290103 22,960 236,434 SH Defined 01 236,434 Polaris Industries Inc PII COM 731068102 5,676 113,595 SH Sole 113,595 Polaris Industries Inc PII COM 731068102 5,531 110,689 SH Defined 01 110,689 Ralph Lauren Corp RL CL A 751212101 29,273 225,699 SH Sole 225,699 Ralph Lauren Corp RL CL A 751212101 11,218 86,494 SH Defined 01 86,494 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 3,394 75,700 SH PUT Sole 75,700 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 18,161 405,100 SH PUT Sole 405,100 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 49,358 1,101,000 SH PUT Sole 1,101,000 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 3,474 77,500 SH PUT Sole 77,500 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 3,308 73,800 SH PUT Sole 73,800 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 3,273 73,000 SH PUT Defined 01 73,000 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 17,699 394,800 SH PUT Defined 01 394,800 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 48,170 1,074,500 SH PUT Defined 01 1,074,500 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 3,385 75,500 SH PUT Defined 01 75,500 SPDR Metals & Mining ETF XME S&P METALS MNG 78464A755 2,981 66,500 SH PUT Defined 01 66,500 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 11,156 260,300 SH PUT Sole 260,300 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 896 20,900 SH PUT Sole 20,900 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 814 19,000 SH PUT Sole 19,000 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 16,805 392,100 SH PUT Sole 392,100 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 10,908 254,500 SH PUT Defined 01 254,500 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 639 14,900 SH PUT Defined 01 14,900 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 570 13,300 SH PUT Defined 01 13,300 SPDR S&P Oil & Gas Exp & Pr ET S&P OILGAS EXP 78464A730 16,317 380,700 SH PUT Defined 01 380,700 SPDR S&P Retail ETF XRT S&P RETAIL ETF 78464A714 1,881 40,700 SH PUT Sole 40,700 SPDR S&P Retail ETF XRT S&P RETAIL ETF 78464A714 5,907 127,800 SH PUT Sole 127,800 SPDR S&P Retail ETF XRT S&P RETAIL ETF 78464A714 1,179 25,500 SH PUT Sole 25,500 SPDR S&P Retail ETF XRT S&P RETAIL ETF 78464A714 1,890 40,900 SH PUT Defined 01 40,900 SPDR S&P Retail ETF XRT S&P RETAIL ETF 78464A714 6,078 131,500 SH PUT Defined 01 131,500 SPDR S&P Retail ETF XRT S&P RETAIL ETF 78464A714 1,132 24,500 SH PUT Defined 01 24,500 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 15,962 457,900 SH PUT Sole 457,900 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 5,731 164,400 SH PUT Sole 164,400 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 2,343 67,200 SH PUT Sole 67,200 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 15,401 441,800 SH PUT Defined 01 441,800 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 4,089 117,300 SH PUT Defined 01 117,300 Select Sector Spdr Tr SBI Cons SBI CONS DISCR 81369Y407 2,287 65,600 SH PUT Defined 01 65,600 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 4,459 152,600 SH PUT Sole 152,600 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 5,359 183,400 SH PUT Sole 183,400 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 28,291 968,200 SH PUT Sole 968,200 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 2,831 96,900 SH PUT Sole 96,900 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 8,290 283,700 SH PUT Sole 283,700 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 9,450 323,400 SH PUT Sole 323,400 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 4,368 149,500 SH PUT Defined 01 149,500 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 5,254 179,800 SH PUT Defined 01 179,800 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 27,595 944,400 SH PUT Defined 01 944,400 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 2,758 94,400 SH PUT Defined 01 94,400 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 8,065 276,000 SH PUT Defined 01 276,000 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 7,866 269,200 SH PUT Defined 01 269,200 Sherwin Williams Co SHW COM 824348106 166,213 2,236,454 SH Sole 2,236,454 Sherwin Williams Co SHW COM 824348106 63,482 854,167 SH Defined 01 854,167 Sigma-Aldrich Corporation SI COM 826552101 138,773 2,245,882 SH Sole 2,245,882 Sigma-Aldrich Corporation SI COM 826552101 55,983 906,022 SH Defined 01 906,022 Signet Jewlers Ltd SIG SHS G81276100 118,737 3,512,918 SH Sole 3,512,918 Signet Jewlers Ltd SIG SHS G81276100 48,876 1,446,034 SH Defined 01 1,446,034 Sirona Dental Systems Inc. S COM 82966c103 13,908 327,948 SH Sole 292,212 35,736 Sirona Dental Systems Inc. S COM 82966c103 12,678 298,932 SH Defined 01 298,932 Snap-On Inc. SNA COM 833034101 16,394 369,224 SH Sole 328,741 40,483 Snap-On Inc. SNA COM 833034101 15,045 338,858 SH Defined 01 338,858 Staples Inc SPLS COM 855030102 10,115 760,500 SH CALL Sole 760,500 Staples Inc SPLS COM 855030102 10,040 754,900 SH CALL Defined 01 754,900 Steiner Leisure LTD STNR ORD P8744Y102 12,342 302,724 SH Sole 302,724 Steiner Leisure LTD STNR ORD P8744Y102 11,158 273,682 SH Defined 01 273,682 Stryker Corp. SYK COM 863667101 2,868 60,863 SH Sole 60,863 Stryker Corp. SYK COM 863667101 3,762 79,831 SH Defined 01 79,831 Symantec Corp SYMC COM 871503108 22,028 1,351,400 SH CALL Sole 1,351,400 Symantec Corp SYMC COM 871503108 21,901 1,343,600 SH CALL Defined 01 1,343,600 T. Rowe Price TROW COM 74144t108 23,472 491,344 SH Sole 491,344 T. Rowe Price TROW COM 74144t108 20,720 433,753 SH Defined 01 433,753 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 17,185 472,892 SH Sole 472,892 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 15,706 432,193 SH Defined 01 432,193 The Interpublic Group Of Compa COM 460690100 65,751 9,132,054 SH Sole 9,132,054 The Interpublic Group Of Compa COM 460690100 26,298 3,652,550 SH Defined 01 3,652,550 Thermo Fisher Scientic Inc. COM 883556102 10,631 209,937 SH Sole 209,937 Thermo Fisher Scientic Inc. COM 883556102 12,637 249,547 SH Defined 01 249,547 Thomson Reuters Corporation TR COM 884903105 353 13,056 SH Sole 11,623 1,433 Thomson Reuters Corporation TR COM 884903105 324 11,971 SH Defined 01 11,971 TransDigm Group Inc. TDG COM 893641100 35,328 432,564 SH Sole 432,564 TransDigm Group Inc. TDG COM 893641100 29,904 366,160 SH Defined 01 366,160 Tyco International Ltd TYC SHS H89128104 383 9,411 SH Sole 9,411 Urban Outfitters Inc. URBN COM 917047102 3,567 159,870 SH Sole 159,870 Urban Outfitters Inc. URBN COM 917047102 3,476 155,795 SH Defined 01 155,795 VeriSign, Inc VRSN COM 92343E102 3,596 125,704 SH Sole 125,704 VeriSign, Inc VRSN COM 92343E102 3,557 124,325 SH Defined 01 124,325 Wabtec Corp WAB COM 929740108 117,445 2,221,388 SH Sole 2,221,388 Wabtec Corp WAB COM 929740108 45,714 864,642 SH Defined 01 864,642 Wal Mart Stores Inc. WMT COM 931142103 12,767 246,000 SH CALL Sole 228,500 17,500 Wal Mart Stores Inc. WMT COM 931142103 10,588 204,000 SH CALL Defined 01 204,000 Waters Corp WAT COM 941848103 25,529 338,177 SH Sole 328,227 9,950 Waters Corp WAT COM 941848103 25,048 331,810 SH Defined 01 331,810 Watsco Inc WSO COM 942622200 14,792 289,465 SH Sole 257,725 31,740 Watsco Inc WSO COM 942622200 13,575 265,650 SH Defined 01 265,650 West Marine Inc COM 954235107 6,532 848,292 SH Sole 848,292 West Marine Inc COM 954235107 5,540 719,455 SH Defined 01 719,455