UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13G


                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 8)*

                             SEI INVESTMENTS COMPANY
                                (Name of Issuer)

                          COMMON STOCK, $.01 PAR VALUE
                         (Title of Class of Securities)

                                   784117 10 3
                                 (CUSIP Number)

                                DECEMBER 31, 2005
             (Date of Event which Requires filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

| |   Rule 13d-1(b)

|X|   Rule 13d-1(c)

| |   Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).




CUSIP No.  784117 10 3

--------------------------------------------------------------------------------
    1           NAMES OF REPORTING PERSONS
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

                         THOMAS W. SMITH
--------------------------------------------------------------------------------
    2           CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a) | |
                                                                      (b) |x|
--------------------------------------------------------------------------------
    3           SEC USE ONLY

--------------------------------------------------------------------------------
    4           CITIZEN OR PLACE OF ORGANIZATION

                         UNITED STATES

--------------------------------------------------------------------------------
                                   5          SOLE VOTING POWER

                                                    1,235,364

          NUMBER OF                ---------------------------------------------
           SHARES                  6          SHARED VOTING POWER
        BENEFICIALLY
        OWNED BY EACH                               5,370,516
          REPORTING
           PERSON                  ---------------------------------------------
            WITH                   7          SOLE DISPOSITIVE POWER

                                                    1,922,296

                                   ---------------------------------------------
                                   8          SHARED DISPOSITIVE POWER

                                                    5,370,516

--------------------------------------------------------------------------------
    9           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                      7,292,812

--------------------------------------------------------------------------------
    10          CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                      NOT APPLICABLE

--------------------------------------------------------------------------------
    11          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                      7.3%

--------------------------------------------------------------------------------
    12          TYPE OF REPORTING PERSON

                      IN

--------------------------------------------------------------------------------


                                      -2-


CUSIP No.  784117 10 3

--------------------------------------------------------------------------------
    1           NAMES OF REPORTING PERSONS
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

                         SCOTT J. VASSALLUZZO

--------------------------------------------------------------------------------
    2           CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a) | |
                                                                      (b) |x|

--------------------------------------------------------------------------------
    3           SEC USE ONLY


--------------------------------------------------------------------------------
    4           CITIZEN OR PLACE OF ORGANIZATION

                         UNITED STATES

--------------------------------------------------------------------------------
                                   5          SOLE VOTING POWER

                                                            0

                                   ---------------------------------------------
                                   6          SHARED VOTING POWER
           NUMBER OF
            SHARES                                  5,370,516
         BENEFICIALLY
         OWNED BY EACH             ---------------------------------------------
           REPORTING               7          SOLE DISPOSITIVE POWER
            PERSON
             WITH                                           0

                                   ---------------------------------------------
                                   8          SHARED DISPOSITIVE POWER

                                                    5,370,516

--------------------------------------------------------------------------------
    9           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                      5,370,516

--------------------------------------------------------------------------------
    10          CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                      NOT APPLICABLE

--------------------------------------------------------------------------------
    11          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                      5.4%

--------------------------------------------------------------------------------
    12          TYPE OF REPORTING PERSON

                      IN

--------------------------------------------------------------------------------


                                      -3-



ITEM 1.  (A)  NAME OF ISSUER:

              SEI Investments Company

         (B)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

              1 Freedom Valley Drive
              Oaks, PA  19456-1100

ITEM 2.  (A)  NAME OF PERSON FILING:
              (i)      Thomas W. Smith
              (ii)     Scott J. Vassalluzzo

              The filing of this Statement shall not be deemed to be an
              admission that the filing persons (the "Reporting Persons")
              comprise a "group" within the meaning of Section 13(d)(3) of the
              Securities Exchange Act of 1934, as amended. The Reporting Persons
              each disclaim beneficial ownership of the shares reported in this
              Schedule 13G in excess of those shares as to which they have or
              share voting or investment authority.

         (B)  ADDRESS OF PRINCIPAL BUSINESS OFFICE:

              The following is the address of the principal business office of
              each of the filing persons:

              323 Railroad Avenue
              Greenwich, CT  06830

         (C)  CITIZENSHIP:

              Each of Thomas W. Smith and Scott J. Vassalluzzo is a United
              States citizen.

         (D)  TITLE OF CLASS OF SECURITIES:

              Common Stock, par value $.01 per share.

         (E)  CUSIP NUMBER:

              784117 10 3

ITEM 3   IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B) OR 13D-2(B) OR
         (C), CHECK WHETHER THE PERSON FILING IS A:

         Not applicable.

         IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(C), CHECK THIS BOX
         |X|

ITEM 4.  OWNERSHIP

         (a)      Thomas W. Smith - 7,292,812 shares; Scott J. Vassalluzzo -
                  5,370,516 shares;

         (b)      Thomas W. Smith - 7.3%; Scott J. Vassalluzzo - 5.4%

                                      -4-


         (c)      Mr. Thomas W. Smith has the sole power to vote or to direct
                  the vote of 1,235,364 shares and the sole power to dispose or
                  to direct the disposition of 1,922,296 shares. Mr. Scott J.
                  Vassalluzzo has the sole power to vote or dispose or to direct
                  the vote or the disposal of no shares. Messrs. Smith and
                  Vassalluzzo have the shared power to vote or dispose or to
                  direct the vote or the disposal of 5,370,516 shares. Voting
                  and investment authority over investment accounts established
                  for the benefit of certain family members and friends of the
                  Reporting Persons is subject to each beneficiary's right to
                  terminate or otherwise direct the disposition of the
                  investment account.

ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

         Not applicable.

ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

         Messrs. Smith and Vassalluzzo in the aggregate beneficially own
         6,180,812 shares in their capacities as investment managers for certain
         managed accounts. The managed accounts have the right to receive
         dividends from, and the proceeds from the sale of, the managed
         accounts' shares. Voting and investment authority over investment
         accounts established for the benefit of certain family members and
         friends of the Reporting Persons is subject to each beneficiary's
         right, if so provided, to terminate or otherwise direct the disposition
         of the managed account.

ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

         Not applicable.

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

         Not applicable.

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

         Not applicable.

ITEM 10. CERTIFICATION

         By signing below, I certify that, to the best of my knowledge and
         belief, the securities referred to above were not acquired and are not
         held for the purpose of or with the effect of changing or influencing
         the control of the issuer of the securities and were not acquired and
         are not held in connection with or as a participant in any transaction
         having that purpose or effect.


                                      -5-



                                    SIGNATURE


         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct. Date: February 14, 2006


                                             /s/ Thomas W. Smith
                                     --------------------------------------
                                                  Thomas W. Smith


                                             /s/ Scott J. Vassalluzzo
                                     --------------------------------------
                                                 Scott J. Vassalluzzo


                                      -6-



                             JOINT FILING AGREEMENT



         The undersigned agree that the foregoing Statement on Schedule 13G,
dated February 14, 2006, is being filed with the Securities and Exchange
Commission on behalf of each of the undersigned pursuant to Rule 13d-1(k) Dated:
February 14, 2006

                                             /s/ Thomas W. Smith
                                     --------------------------------------
                                                 Thomas W. Smith



                                             /s/ Scott J. Vassalluzzo
                                     --------------------------------------
                                                 Scott J. Vassalluzzo













                                      -7-