Select Equity Group, L.P.
Reported US equity positions for Q1 2026 — $18.8B across 159 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| LYV Live Nation Entertainment, Inc. | $815.1M | 4.3% | 5,344,455 |
| G93A5A101 Viking Holdings LTD | $793.7M | 4.2% | 10,802,203 |
| ITT ITT Inc. | $745.6M | 4.0% | 3,913,486 |
| WAB Westinghouse Air Brake Technologies Corporation | $730.6M | 3.9% | 2,923,643 |
| MKL Markel Group Inc. | $722.8M | 3.9% | 377,643 |
| SGI Somnigroup International Inc. | $685.5M | 3.7% | 9,273,908 |
| MLM Martin Marietta Materials, Inc. | $608.4M | 3.2% | 1,033,420 |
| TSCO Tractor Supply Company | $602.3M | 3.2% | 13,296,464 |
| LH Labcorp Holdings Inc. | $580.3M | 3.1% | 2,174,785 |
| BRO Brown & Brown, Inc. | $523.1M | 2.8% | 8,022,123 |
| G25508105 Crh PLC | $510.6M | 2.7% | 4,857,488 |
| SCI Service Corporation International | $504.4M | 2.7% | 6,113,751 |
| G8473T100 Steris PLC | $474.0M | 2.5% | 2,143,379 |
| NDAQ Nasdaq, Inc. | $472.3M | 2.5% | 5,563,126 |
| H01301128 Alcon Ag | $418.6M | 2.2% | 5,676,304 |
| EME EMCOR Group, Inc. | $410.4M | 2.2% | 555,849 |
| CP Canadian Pacific Kansas City Limited | $388.8M | 2.1% | 4,956,024 |
| TRMB Trimble Inc. | $365.7M | 1.9% | 5,605,868 |
| CNM Core & Main, Inc. Class A | $358.4M | 1.9% | 7,254,207 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $347.4M | 1.9% | 1,027,926 |
| PAYX Paychex, Inc. | $338.1M | 1.8% | 3,670,073 |
| CHRW C.H. Robinson Worldwide, Inc. | $325.9M | 1.7% | 1,962,544 |
| CLH Clean Harbors, Inc. | $324.5M | 1.7% | 1,131,602 |
| CPAY Corpay, Inc. | $309.6M | 1.6% | 1,063,946 |
| G81276100 Signet Jewelers Limited | $277.2M | 1.5% | 3,274,816 |
| ROL Rollins, Inc. | $254.6M | 1.4% | 4,767,122 |
| V Visa Inc. | $230.8M | 1.2% | 763,640 |
| PKG Packaging Corporation of America | $217.1M | 1.2% | 1,023,041 |
| CAE CAE Inc | $214.2M | 1.1% | 8,251,691 |
| MIDD The Middleby Corporation | $198.9M | 1.1% | 1,500,467 |
| HUBB Hubbell Inc | $183.7M | 1.0% | 374,337 |
| L8681T102 Spotify Technology S A | $177.4M | 0.9% | 365,876 |
| NET Cloudflare, Inc. Class A | $176.4M | 0.9% | 854,924 |
| NVDA NVIDIA Corporation | $157.6M | 0.8% | 903,490 |
| APH Amphenol Corporation | $151.6M | 0.8% | 1,199,943 |
| BWXT BWX Technologies, Inc. | $148.5M | 0.8% | 726,424 |
| TMO Thermo Fisher Scientific Inc | $147.2M | 0.8% | 299,500 |
| PWR Quanta Services, Inc. | $144.8M | 0.8% | 263,823 |
| CDW CDW Corporation | $144.7M | 0.8% | 1,195,763 |
| TDY Teledyne Technologies Incorporated | $120.4M | 0.6% | 198,956 |
| ENTG Entegris, Inc. | $119.7M | 0.6% | 1,020,870 |
| DKS Dick's Sporting Goods Inc | $110.4M | 0.6% | 556,913 |
| MORN Morningstar, Inc. | $107.8M | 0.6% | 637,723 |
| FWONK Liberty Media Corporation - Series C Liberty Formula One | $107.4M | 0.6% | 1,262,695 |
| CR Crane Company | $105.3M | 0.6% | 615,821 |
| FNV Franco-Nevada Corporation | $102.6M | 0.5% | 415,524 |
| APO Apollo Global Management, Inc. (New) | $101.8M | 0.5% | 913,985 |
| FTV Fortive Corporation | $94.7M | 0.5% | 1,712,853 |
| CRM Salesforce, Inc. | $93.7M | 0.5% | 501,790 |
| WDAY Workday, Inc. | $84.8M | 0.5% | 652,998 |
| H5919C104 On Hldg Ag | $83.9M | 0.4% | 2,466,291 |
| H2906T109 Garmin LTD | $83.9M | 0.4% | 361,610 |
| JOE The St. Joe Company | $80.1M | 0.4% | 1,274,988 |
| VRSK Verisk Analytics, Inc. | $79.9M | 0.4% | 420,868 |
| MSFT Microsoft Corporation | $77.6M | 0.4% | 209,575 |
| DSGX The Descartes Systems Group Inc. | $77.1M | 0.4% | 1,080,155 |
| AMZN Amazon.com, Inc. | $67.9M | 0.4% | 326,241 |
| INTC Intel Corporation | $63.5M | 0.3% | 1,439,224 |
| AVGO Broadcom Inc. | $62.4M | 0.3% | 201,484 |
| INTU Intuit Inc. | $60.8M | 0.3% | 140,671 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| LYV Live Nation Entertainment, Inc. | Trim | $815.1M | $796.0M | -4% |
| G93A5A101 Viking Holdings LTD | Trim | $793.7M | $993.1M | -22% |
| ITT ITT Inc. | Add | $745.6M | $629.0M | +8% |
| WAB Westinghouse Air Brake Technologies Corporation | Trim | $730.6M | $759.8M | -18% |
| MKL Markel Group Inc. | Trim | $722.8M | $919.8M | -12% |
| SGI Somnigroup International Inc. | Trim | $685.5M | $931.1M | -11% |
| MLM Martin Marietta Materials, Inc. | Trim | $608.4M | $664.7M | -3% |
| TSCO Tractor Supply Company | Add | $602.3M | $627.4M | +6% |
| LH Labcorp Holdings Inc. | Add | $580.3M | $529.6M | +3% |
| BRO Brown & Brown, Inc. | Trim | $523.1M | $752.0M | -15% |
| G25508105 Crh PLC | Trim | $510.6M | $846.1M | -28% |
| SCI Service Corporation International | Trim | $504.4M | $501.1M | -5% |
| G8473T100 Steris PLC | Add | $474.0M | $488.8M | +11% |
| NDAQ Nasdaq, Inc. | Add | $472.3M | $364.5M | +48% |
| H01301128 Alcon Ag | Trim | $418.6M | $496.7M | -9% |
| EME EMCOR Group, Inc. | Add | $410.4M | $283.0M | +20% |
| CP Canadian Pacific Kansas City Limited | Add | $388.8M | $327.6M | +12% |
| TRMB Trimble Inc. | Trim | $365.7M | $571.8M | -23% |
| CNM Core & Main, Inc. Class A | Trim | $358.4M | $404.2M | -7% |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | Add | $347.4M | $308.1M | +1% |
| PAYX Paychex, Inc. | Trim | $338.1M | $641.2M | -36% |
| CHRW C.H. Robinson Worldwide, Inc. | Add | $325.9M | $181.3M | +74% |
| CLH Clean Harbors, Inc. | Add | $324.5M | $199.2M | +33% |
| CPAY Corpay, Inc. | Trim | $309.6M | $337.6M | -5% |
| G81276100 Signet Jewelers Limited | Trim | $277.2M | $294.8M | -8% |
| ROL Rollins, Inc. | Add | $254.6M | $89.7M | +219% |
| V Visa Inc. | Add | $230.8M | $261.4M | +2% |
| PKG Packaging Corporation of America | Add | $217.1M | $100.5M | +110% |
| CAE CAE Inc | Add | $214.2M | $231.0M | +9% |
| MIDD The Middleby Corporation | Trim | $198.9M | $450.2M | -50% |
| L8681T102 Spotify Technology S A | Add | $177.4M | $97.2M | +119% |
| NET Cloudflare, Inc. Class A | Add | $176.4M | $25.8M | +554% |
| NVDA NVIDIA Corporation | Add | $157.6M | $130.7M | +29% |
| APH Amphenol Corporation | Add | $151.6M | $89.9M | +80% |
| BWXT BWX Technologies, Inc. | Add | $148.5M | $74.3M | +69% |
| TMO Thermo Fisher Scientific Inc | Trim | $147.2M | $182.5M | -5% |
| PWR Quanta Services, Inc. | Trim | $144.8M | $128.5M | -13% |
| CDW CDW Corporation | Trim | $144.7M | $310.2M | -48% |
| ENTG Entegris, Inc. | Trim | $119.7M | $104.7M | -18% |
| DKS Dick's Sporting Goods Inc | Add | $110.4M | $104.9M | +5% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.