{
  "crd_number": 168496,
  "slug": "select-equity-group-l-p-new-york-ny-168496",
  "primary_business_name": "SELECT EQUITY GROUP, L.P.",
  "legal_name": "SELECT EQUITY GROUP, L.P.",
  "dbas": [],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2013-11-26",
  "years_registered": 12,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 36383791684.0,
  "raum_discretionary": 36383791684.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 171,
  "advisory_employees": 83,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 33937513.0,
      "count": 11,
      "description": "OTHER"
    },
    "charitable": {
      "raum": 598777322.0,
      "count": 45
    },
    "individuals": {
      "raum": 536799728.0,
      "count": 387
    },
    "banking_thrift": {
      "raum": 141280447.0,
      "count": null,
      "fewer_than_5": true
    },
    "state_municipal": {
      "raum": 279135870.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": null,
      "fewer_than_5": true
    },
    "investment_companies": {
      "raum": 1549815357.0,
      "count": 2
    },
    "pension_profit_sharing": {
      "raum": 1086194457.0,
      "count": 10
    },
    "other_investment_advisers": {
      "raum": 1726407241.0,
      "count": 5
    },
    "high_net_worth_individuals": {
      "raum": 959268056.0,
      "count": 249
    },
    "pooled_investment_vehicles": {
      "raum": 28737486356.0,
      "count": 50
    },
    "corporations_other_businesses": {
      "raum": 302713377.0,
      "count": 7
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 431975960.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "AL",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "NC",
    "NH",
    "NJ",
    "NM",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "RI",
    "SC",
    "TN",
    "TX",
    "UT",
    "VA",
    "VT",
    "WA"
  ],
  "websites": [
    "https://astorplaceholdings.com",
    "https://linkedin.com/company/select-equity-group",
    "https://selectequity.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/168496",
  "disclosure_items": [
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/select-equity-group-l-p-new-york-ny-168496",
  "display_name": "Select Equity Group, L.P.",
  "summary": "Select Equity Group, L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 2013, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Select Equity Group, L.P. (CRD 168496): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Select Equity Group, L.P. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Select Equity Group, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Select Equity Group, L.P. located?",
      "a": "Select Equity Group, L.P.'s principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Select Equity Group, L.P. registered with the SEC or a state?",
      "a": "Select Equity Group, L.P. is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 168496."
    },
    {
      "q": "How much does Select Equity Group, L.P. manage?",
      "a": "Select Equity Group, L.P. reports $36,383,791,684 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Select Equity Group, L.P.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Select Equity Group, L.P.: Regulatory assets under management: $43,912,338,273 in the October 2021 data and $36,383,791,684 in the October 2026 data, down 17%. Total employees: 170 in October 2021 and 171 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Select Equity Group, L.P. serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (387); high net worth individuals (249); pooled investment vehicles (other than investment companies and business development companies) (50)."
    },
    {
      "q": "Which custodians does Select Equity Group, L.P. use?",
      "a": "Select Equity Group, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., State Street Bank and Trust Company and The Bank of New York Mellon as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Select Equity Group, L.P. report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/168496"
    },
    {
      "q": "What changed in Select Equity Group, L.P.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Its Item 11 disclosure answers changed. Employees performing advisory functions went from 95 to 83. Regulatory assets under management went from $40,609,132,795 to $36,383,791,684 (-10%). No longer lists an office in Seattle, WA."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 43912338273.0,
      "total_employees": 170,
      "filing_date": "2021-05-10"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 58473340769.0,
      "total_employees": 195,
      "filing_date": "2022-06-13"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 45142182503.0,
      "total_employees": 199,
      "filing_date": "2023-08-08"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 46642934611.0,
      "total_employees": 203,
      "filing_date": "2024-08-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 40609132795.0,
      "total_employees": 200,
      "filing_date": "2025-04-08"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 36383791684.0,
      "total_employees": 171,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Its Item 11 disclosure answers changed.",
        "Employees performing advisory functions went from 95 to 83.",
        "Regulatory assets under management went from $40,609,132,795 to $36,383,791,684 (-10%).",
        "No longer lists an office in Seattle, WA."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "State Street Bank and Trust Company",
      "name_as_filed": "STATE STREET BANK AND TRUST COMPANY",
      "affiliated": false
    },
    {
      "name": "The Bank of New York Mellon",
      "name_as_filed": "THE BANK OF NEW YORK MELLON",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/select-equity-group-l-p-new-york-ny-168496.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 387,
      "fewer_than_5": false,
      "raum": 536799728.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 249,
      "fewer_than_5": false,
      "raum": 959268056.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": null,
      "fewer_than_5": true,
      "raum": 141280447.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 1549815357.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 50,
      "fewer_than_5": false,
      "raum": 28737486356.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 10,
      "fewer_than_5": false,
      "raum": 1086194457.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 45,
      "fewer_than_5": false,
      "raum": 598777322.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 279135870.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 5,
      "fewer_than_5": false,
      "raum": 1726407241.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": null,
      "fewer_than_5": true,
      "raum": 431975960.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 7,
      "fewer_than_5": false,
      "raum": 302713377.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 11,
      "fewer_than_5": false,
      "raum": 33937513.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/168496",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}