13F-HR 1 dec09.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: December 31, 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 February 16, 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: 177 Form 13F Information Table Value Total: $ 4,702,242 (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 30,214 2,311,679 SH Sole 2,311,679 99 Cents Only Stores NDN COM 65440k106 20,835 1,594,113 SH Defined 01 1,594,113 Aaron's Inc AAN COM 002535201 2,633 94,945 SH Sole 94,945 Aaron's Inc AAN COM 002535201 2,090 75,360 SH Defined 01 75,360 Aetna Inc AET COM 00817Y108 14,791 466,588 SH Sole 466,588 Aetna Inc AET COM 00817Y108 12,394 390,982 SH Defined 01 390,982 Aetna Inc AET COM 00817Y108 25,566 806,500 SH CALL Sole 806,500 Aetna Inc AET COM 00817Y108 20,288 640,000 SH CALL Defined 01 640,000 Aon Corp AON COM 037389103 23,975 625,334 SH Sole 625,334 Aon Corp AON COM 037389103 19,360 504,952 SH Defined 01 504,952 Apollo Group Inc CL A APOL CL A 037604105 37,883 625,344 SH Sole 625,344 Apollo Group Inc CL A APOL CL A 037604105 31,421 518,670 SH Defined 01 518,670 Apollo Group Inc CL A APOL CL A 037604105 23,341 385,300 SH CALL Sole 385,300 Apollo Group Inc CL A APOL CL A 037604105 18,398 303,700 SH CALL Defined 01 303,700 Athenahealth Inc ATHN COM 04685W103 7,824 172,946 SH Sole 172,946 Athenahealth Inc ATHN COM 04685W103 5,024 111,054 SH Defined 01 111,054 Atlantic Tele-Network INC ATNI COM NEW 049079205 6,239 113,542 SH Sole 113,542 Atlantic Tele-Network INC ATNI COM NEW 049079205 3,972 72,286 SH Defined 01 72,286 Berkshire Hathaway-Cl A CL A 084670108 5,158 52 SH Sole 52 Berkshire Hathaway-Cl A CL A 084670108 3,770 38 SH Defined 01 38 Blount International BLT COM 095180105 6,540 647,485 SH Sole 647,485 Blount International BLT COM 095180105 4,549 450,381 SH Defined 01 450,381 Brookfield Asset Management CL A LTD VT SH 112585104 181,350 8,176,298 SH Sole 8,176,298 Brookfield Asset Management CL A LTD VT SH 112585104 66,547 3,000,334 SH Defined 01 3,000,334 Brown and Brown Inc BRO COM 115236101 80,185 4,462,132 SH Sole 4,462,132 Brown and Brown Inc BRO COM 115236101 20,108 1,118,972 SH Defined 01 1,118,972 C.H. Robinson Worldwide Inc COM NEW 12541W209 33,979 578,571 SH Sole 578,571 C.H. Robinson Worldwide Inc COM NEW 12541W209 6,933 118,042 SH Defined 01 118,042 CB Richard Ellis Group Inc A CL A 12497T101 104,242 7,681,820 SH Sole 7,681,820 CB Richard Ellis Group Inc A CL A 12497T101 50,210 3,700,093 SH Defined 01 3,700,093 CR Bard Inc BCR COM 067383109 33,705 432,667 SH Sole 432,667 CR Bard Inc BCR COM 067383109 12,275 157,575 SH Defined 01 157,575 Chinacast Education Corp CAS COM 16946T109 99 13,055 SH Sole 13,055 Church & Dwight Co Inc CHD COM 171340102 67,812 1,121,790 SH Sole 1,121,790 Church & Dwight Co Inc CHD COM 171340102 19,142 316,664 SH Defined 01 316,664 Colgate-Palmolive Co CL COM 194162103 4,848 59,017 SH Sole 59,017 Colgate-Palmolive Co CL COM 194162103 4,746 57,778 SH Defined 01 57,778 Danaher Corporation DHR COM 235851102 3,761 50,011 SH Sole 50,011 Danaher Corporation DHR COM 235851102 3,676 48,878 SH Defined 01 48,878 Dentsply International Inc X COM 249030107 77,020 2,189,933 SH Sole 2,189,933 Dentsply International Inc X COM 249030107 20,964 596,069 SH Defined 01 596,069 Ebay Inc EBAY COM 278642103 2,774 117,900 SH CALL Sole 117,900 Ebay Inc EBAY COM 278642103 1,849 78,600 SH CALL Defined 01 78,600 Education Management Corp ED COM 28140M103 43,836 1,991,623 SH Sole 1,991,623 Education Management Corp ED COM 28140M103 33,143 1,505,822 SH Defined 01 1,505,822 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 3,820 67,000 SH CALL Sole 67,000 Energy Select Sector Spdr XLE SBI INT-ENERGY 81369Y506 1,682 29,500 SH CALL Defined 01 29,500 Fastenal Co FAST COM 311900104 21,992 528,156 SH Sole 528,156 Fastenal Co FAST COM 311900104 3,535 84,895 SH Defined 01 84,895 Financial Select Sector Spdr SBI INT-FINL 81369Y605 6,530 453,500 SH CALL Sole 453,500 Financial Select Sector Spdr SBI INT-FINL 81369Y605 3,057 212,300 SH CALL Sole 212,300 Financial Select Sector Spdr SBI INT-FINL 81369Y605 4,775 331,600 SH CALL Defined 01 331,600 Financial Select Sector Spdr SBI INT-FINL 81369Y605 2,184 151,700 SH CALL Defined 01 151,700 First American Corp FAF COM 318522307 59,895 1,808,956 SH Sole 1,808,956 First American Corp FAF COM 318522307 23,178 700,027 SH Defined 01 700,027 Firstservice Corporation-VTG SUB VTG SH 33761N109 6,672 348,958 SH Sole 348,958 Firstservice Corporation-VTG SUB VTG SH 33761N109 4,706 246,141 SH Defined 01 246,141 Franklin Electric Co Inc FELE COM 353514102 43,299 1,490,512 SH Sole 1,490,512 Franklin Electric Co Inc FELE COM 353514102 12,775 439,765 SH Defined 01 439,765 Franklin Res Inc BEN COM 354613101 4,995 47,417 SH Sole 47,417 Franklin Res Inc BEN COM 354613101 4,905 46,563 SH Defined 01 46,563 Garmin Ltd GRMN ORD g37260109 2,289 74,555 SH Sole 74,555 Garmin Ltd GRMN ORD g37260109 1,237 40,308 SH Defined 01 40,308 General Electric Co. ge COM 369604103 36,509 2,413,000 SH CALL Sole 2,413,000 General Electric Co. ge COM 369604103 28,916 1,911,200 SH CALL Defined 01 1,911,200 HCC Insurance Holdings HCC COM 404132102 52,824 1,888,594 SH Sole 1,888,594 HCC Insurance Holdings HCC COM 404132102 17,154 613,287 SH Defined 01 613,287 Harry Winston Diamond Corp H COM 41587B100 9,737 1,023,870 SH Sole 1,023,870 Harry Winston Diamond Corp H COM 41587B100 6,988 734,814 SH Defined 01 734,814 Henry Schein HSIC COM 806407102 30,440 578,702 SH Sole 578,702 Henry Schein HSIC COM 806407102 22,320 424,333 SH Defined 01 424,333 IDEXX Laboratories Inc. IDX COM 45168D104 41,307 772,812 SH Sole 772,812 IDEXX Laboratories Inc. IDX COM 45168D104 8,627 161,396 SH Defined 01 161,396 IHS Inc Class A IHS CL A 451734107 80,899 1,475,991 SH Sole 1,475,991 IHS Inc Class A IHS CL A 451734107 22,483 410,193 SH Defined 01 410,193 ITT Educational Services ESI COM 45068B109 26,323 274,311 SH Sole 274,311 ITT Educational Services ESI COM 45068B109 20,022 208,650 SH Defined 01 208,650 Iberiabank Corp IBKC COM 450828108 7,866 146,176 SH Sole 146,176 Iberiabank Corp IBKC COM 450828108 4,971 92,378 SH Defined 01 92,378 Intel Corp INTC COM 458140100 9,394 460,500 SH CALL Sole 460,500 Intel Corp INTC COM 458140100 7,109 348,500 SH CALL Defined 01 348,500 Interface Inc CL A IFSIA CL A 458665106 215 25,905 SH Sole 25,905 Jarden Corp. jah COM 471109108 5,462 176,700 SH PUT Sole 176,700 Jarden Corp. jah COM 471109108 3,567 115,400 SH PUT Defined 01 115,400 Jones Lang Lasalle Inc JLL COM 48020Q107 93,941 1,555,322 SH Sole 1,555,322 Jones Lang Lasalle Inc JLL COM 48020Q107 57,464 951,392 SH Defined 01 951,392 Kirby Corp KEX COM 497266106 71,739 2,059,700 SH Sole 2,059,700 Kirby Corp KEX COM 497266106 20,610 591,721 SH Defined 01 591,721 Laboratory Corp of Amer Hldgs COM NEW 50540R409 110,886 1,481,641 SH Sole 1,481,641 Laboratory Corp of Amer Hldgs COM NEW 50540R409 37,308 498,497 SH Defined 01 498,497 Legg Mason Inc LM COM 524901105 9,619 318,948 SH Sole 318,948 Legg Mason Inc LM COM 524901105 9,408 311,951 SH Defined 01 311,951 Manitowo Inc MTW COM 563571108 620 62,162 SH Sole 62,162 Manitowo Inc MTW COM 563571108 17,712 1,776,500 SH CALL Sole 1,776,500 Manitowo Inc MTW COM 563571108 9,596 962,500 SH CALL Sole 962,500 Manitowo Inc MTW COM 563571108 13,868 1,391,000 SH CALL Defined 01 1,391,000 Manitowo Inc MTW COM 563571108 7,034 705,500 SH CALL Defined 01 705,500 Meredith Corporation mdp COM 589433101 59,135 1,916,843 SH Sole 1,916,843 Meredith Corporation mdp COM 589433101 17,177 556,796 SH Defined 01 556,796 Mettler Toledo International COM 592688105 1,000 9,525 SH Sole 9,525 Microsoft Corp MSFT COM 594918104 12,500 410,100 SH CALL Sole 410,100 Microsoft Corp MSFT COM 594918104 67,666 2,220,000 SH CALL Sole 2,220,000 Microsoft Corp MSFT COM 594918104 19,154 628,400 SH CALL Sole 628,400 Microsoft Corp MSFT COM 594918104 15,402 505,300 SH CALL Defined 01 505,300 Microsoft Corp MSFT COM 594918104 9,918 325,400 SH CALL Defined 01 325,400 Microsoft Corp MSFT COM 594918104 52,471 1,721,500 SH CALL Defined 01 1,721,500 Millipore Corporation MIL COM 601073109 66,549 919,816 SH Sole 919,816 Millipore Corporation MIL COM 601073109 17,072 235,966 SH Defined 01 235,966 Mohawk Industries Inc MHK COM 608190104 64,188 1,348,492 SH Sole 1,348,492 Mohawk Industries Inc MHK COM 608190104 17,202 361,386 SH Defined 01 361,386 Neogen Corp NEOG COM 640491106 6,897 292,101 SH Sole 292,101 Neogen Corp NEOG COM 640491106 5,241 221,980 SH Defined 01 221,980 OReilly Automotive ORLY COM 686091109 130,929 3,434,665 SH Sole 3,434,665 OReilly Automotive ORLY COM 686091109 38,295 1,004,588 SH Defined 01 1,004,588 Orient Express Hotels Ltd -A CL A G67743107 2,047 201,869 SH Sole 201,869 Orient Express Hotels Ltd -A CL A G67743107 1,624 160,169 SH Defined 01 160,169 Patterson Cos Inc PDCO COM 703395103 91,632 3,274,899 SH Sole 3,274,899 Patterson Cos Inc PDCO COM 703395103 23,981 857,087 SH Defined 01 857,087 Paychex PAYX COM 704326107 27,450 895,875 SH Sole 895,875 Paychex PAYX COM 704326107 6,622 216,139 SH Defined 01 216,139 Perkinelmer Inc PKI COM 714046109 73,486 3,569,012 SH Sole 3,569,012 Perkinelmer Inc PKI COM 714046109 23,926 1,162,008 SH Defined 01 1,162,008 Pfizer Inc. pfe COM 717081103 27,931 1,535,500 SH CALL Sole 1,535,500 Pfizer Inc. pfe COM 717081103 71,881 3,951,700 SH CALL Sole 3,951,700 Pfizer Inc. pfe COM 717081103 21,664 1,191,000 SH CALL Defined 01 1,191,000 Pfizer Inc. pfe COM 717081103 55,445 3,048,100 SH CALL Defined 01 3,048,100 Philip Morris International In COM 718172109 18,168 377,000 SH CALL Sole 377,000 Philip Morris International In COM 718172109 13,059 271,000 SH CALL Defined 01 271,000 Polo Ralph Lauren RL CL A 731572103 65,518 809,063 SH Sole 809,063 Polo Ralph Lauren RL CL A 731572103 18,440 227,709 SH Defined 01 227,709 Pool Corporation POOL COM 73278L105 33,098 1,734,707 SH Sole 1,734,707 Pool Corporation POOL COM 73278L105 10,932 572,973 SH Defined 01 572,973 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 11,951 239,600 SH CALL Sole 239,600 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 2,185 43,800 SH CALL Sole 43,800 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 8,365 167,700 SH CALL Defined 01 167,700 Proshares Ultrashort 20+Y Tr E PSHS ULTSH 20YRS 74347R297 2,070 41,500 SH CALL Defined 01 41,500 Quest Diagnostics DGX COM 74834L100 3,540 58,634 SH Sole 58,634 Quest Diagnostics DGX COM 74834L100 3,456 57,235 SH Defined 01 57,235 Roper Industries ROP COM 776696106 24,964 476,694 SH Sole 476,694 Roper Industries ROP COM 776696106 18,995 362,712 SH Defined 01 362,712 SPDR Gold Trust ETF GLD GOLD SHS 78463v107 68,743 640,600 SH PUT Sole 640,600 SPDR Gold Trust ETF GLD GOLD SHS 78463v107 54,449 507,400 SH PUT Defined 01 507,400 SPDR Oil & Gas Equip & Serv E OILGAS EQUIP 78464a748 84,150 2,954,700 SH PUT Sole 2,954,700 SPDR Oil & Gas Equip & Serv E OILGAS EQUIP 78464a748 58,250 2,045,300 SH PUT Defined 01 2,045,300 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 18,592 669,000 SH PUT Sole 669,000 Select Sector Spdr Tr SBI Int- SBI INT-INDS 81369Y704 14,701 529,000 SH PUT Defined 01 529,000 Sherwin Williams Co SHW COM 824348106 95,419 1,547,752 SH Sole 1,547,752 Sherwin Williams Co SHW COM 824348106 23,537 381,790 SH Defined 01 381,790 Signet Jewlers Ltd SIG SHS G81276100 62,556 2,341,185 SH Sole 2,341,185 Signet Jewlers Ltd SIG SHS G81276100 22,142 828,677 SH Defined 01 828,677 Sirona Dental Systems Inc. S COM 82966c103 463 14,596 SH Sole 14,596 Strayer Education STRA COM 863236105 75,571 355,595 SH Sole 355,595 Strayer Education STRA COM 863236105 17,641 83,008 SH Defined 01 83,008 Stryker Corp. SYK COM 863667101 18,465 366,588 SH Sole 366,588 Stryker Corp. SYK COM 863667101 14,732 292,474 SH Defined 01 292,474 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 16,439 547,041 SH Sole 547,041 Texas Pacific Land Trust TPL SUB CTF PROP I T 882610108 11,139 370,680 SH Defined 01 370,680 The Coca-cola Company ko COM 191216100 31,350 550,000 SH CALL Sole 550,000 The Coca-cola Company ko COM 191216100 24,140 423,500 SH CALL Defined 01 423,500 The Interpublic Group Of Compa COM 460690100 12,647 1,713,679 SH Sole 1,713,679 The Interpublic Group Of Compa COM 460690100 8,979 1,216,728 SH Defined 01 1,216,728 The Washington Post Co. wpo CL B 939640108 70,316 159,954 SH Sole 159,954 The Washington Post Co. wpo CL B 939640108 18,817 42,805 SH Defined 01 42,805 Thermo Fisher Scientic Inc. COM 883556102 60,713 1,273,078 SH Sole 1,273,078 Thermo Fisher Scientic Inc. COM 883556102 30,741 644,608 SH Defined 01 644,608 Transocean Ltd. RIG REG SHS H8817H100 7,369 89,000 SH PUT Sole 89,000 Transocean Ltd. RIG REG SHS H8817H100 6,334 76,500 SH PUT Defined 01 76,500 Ultrashort Basic Materials P PSHS BASIC MTRL 74347R651 36,682 4,320,600 SH CALL Sole 4,320,600 Ultrashort Basic Materials P PSHS BASIC MTRL 74347R651 29,019 3,418,000 SH CALL Defined 01 3,418,000 VCA Antech Inc. WOOF COM 918194101 36,172 1,451,540 SH Sole 1,451,540 VCA Antech Inc. WOOF COM 918194101 7,708 309,305 SH Defined 01 309,305 Williams Sonoma Inc WSM COM 969904101 36,899 1,775,689 SH Sole 1,775,689 Williams Sonoma Inc WSM COM 969904101 5,597 269,358 SH Defined 01 269,358 Wright Express Corp WXS COM 98233Q105 5,366 168,420 SH Sole 168,420 Wright Express Corp WXS COM 98233Q105 3,750 117,695 SH Defined 01 117,695 Wynn Resorts Ltd wynn COM 983134107 19,798 340,000 SH PUT Sole 340,000 Wynn Resorts Ltd wynn COM 983134107 15,693 269,500 SH PUT Defined 01 269,500