Initial Statement of Beneficial Ownership (Form 3)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Duggan John F. 2. Date of Event Requiring Statement (Month/Day/Year) 09/01/2025 3. Issuer Name and Ticker or Trading Symbol SELECT MEDICAL HOLDINGS CORP [SEM] (Last) (First) (Middle) C/O SELECT MEDICAL HOLDINGS CORPORATION, 4714 GETTYSBURG ROAD 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive Vice President 5. If Amendment, Date Original Filed (Month/Day/Year) (Street) MECHANICSBURG, PA 17055 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 149,575(1)(2)(3)(4) D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Duggan John F. C/O SELECT MEDICAL HOLDINGS CORPORATION 4714 GETTYSBURG ROAD MECHANICSBURG, PA 17055			Executive Vice President

Signatures

/s/ John F. Duggan		09/02/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Grant of 25,000 shares of restricted stock which, subject to certain exceptions and a special vesting of 1/3 of the shares on November 5, 2024, will fully vest on November 1, 2025, the fourth anniversary of the grant date. The restricted stock was granted on November 1, 2021.
(2)	Grant of 25,000 shares of restricted stock which, subject to certain exceptions and a special vesting of 1/3 of the shares on November 5, 2024, will fully vest on November 1, 2026, the fourth anniversary of the grant date. The restricted stock was granted on November 1, 2022.
(3)	Grant of 25,000 shares of restricted stock which, subject to certain exceptions and a special vesting of 1/3 of the shares on November 5, 2024, will fully vest on November 1, 2027, the fourth anniversary of the grant date. The restricted stock was granted on November 1, 2023.
(4)	Grant of 50,000 shares of restricted stock which, subject to certain exceptions and a special vesting of 1/3 of the shares on November 5, 2024, will fully vest on April 30, 2028, the fourth anniversary of the grant date. The restricted stock was granted on April 30, 2024.

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