Select Equity Group 13F, Q4 2025
Select Equity Group · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1592643
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 19 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2025
The 25 largest of 163 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| VIKING HOLDINGS LTD | $993.09M | 4.6% | -9% shares | |
| SOMNIGROUP INTERNATIONAL INC | SGI | $931.10M | 4.3% | -11% shares |
| MARKEL GROUP INC | MKL | $919.80M | 4.3% | +12% shares |
| CRH PLC | $846.07M | 3.9% | -21% shares | |
| LIVE NATION ENTERTAINMENT IN | LYV | $796.03M | 3.7% | unchanged |
| WABTEC | WAB | $759.76M | 3.5% | -4% shares |
| BROWN & BROWN INC | BRO | $751.95M | 3.5% | +55% shares |
| MARTIN MARIETTA MATLS INC | MLM | $664.71M | 3.1% | +3% shares |
| PAYCHEX INC | PAYX | $641.25M | 3.0% | +31% shares |
| ITT INC | ITT | $629.02M | 2.9% | -8% shares |
| TRACTOR SUPPLY CO | TSCO | $627.35M | 2.9% | +3% shares |
| TRIMBLE INC | TRMB | $571.82M | 2.6% | -5% shares |
| LABCORP HOLDINGS INC | LH | $529.55M | 2.5% | +15% shares |
| SERVICE CORP INTL | SCI | $501.08M | 2.3% | -3% shares |
| ALCON AG | $496.68M | 2.3% | -8% shares | |
| STERIS PLC | $488.79M | 2.3% | -3% shares | |
| MIDDLEBY CORP | MIDD | $450.22M | 2.1% | -28% shares |
| CORE & MAIN INC | CNM | $404.24M | 1.9% | -20% shares |
| NASDAQ INC | NDAQ | $364.51M | 1.7% | +26% shares |
| CORPAY INC | CPAY | $337.62M | 1.6% | -3% shares |
| MORNINGSTAR INC | MORN | $330.85M | 1.5% | -28% shares |
| CANADIAN PACIFIC KANSAS CITY | CP | $327.62M | 1.5% | +12% shares |
| CDW CORP | CDW | $310.19M | 1.4% | -45% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $308.07M | 1.4% | -54% shares |
| JONES LANG LASALLE INC | JLL | $306.77M | 1.4% | -20% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Select Equity Group opened 28 new positions, added to 54, trimmed 75, left 6 unchanged and exited 17. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- CHRW$181.31M
- SPOTIFY TECHNOLOGY S A$97.19M
- ON HLDG AG$87.10M
- AIZ$83.96M
- NKE$78.77M
- UNP$41.47M
- ACWX$40.30M
- SPDW$40.29M
and 20 more
Exited
- COOwas $86.74M
- OWLwas $63.31M
- PYPLwas $48.39M
- MHKwas $41.82M
- ZTSwas $41.25M
- VCTRwas $39.94M
- WTwas $32.13M
- DOCUwas $32.05M
and 9 more
Other quarters
Source: SEC Form 13F-HR, accession 0001592643-26-000004, filed by Select Equity Group, L.P.. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.