Robert Joseph Caruso‘s Select Equity Group has reported holding around 3.39 million shares of Shake Shack Inc (NYSE:SHAK) via a 13D filing with the US Securities and Exchange Commission. The filing showed that the position amasses 8.9% of the company’s common stock and is higher than the 2.44 million shares the fund reported in its 13F filing for the end of the fourth quarter. Select Equity added Shake Shack to its equity portfolio during the last three months of 2015.
Overall, Shake Shack was in 11 hedge funds’ portfolios at the end of the fourth quarter of 2015 (among the funds we track) and it registered a slight decrease in popularity as the number of funds with long positions declined by one over the quarter. Select Equity held the largest position, followed by Dirk Ziff’s ZBI Services, with a $21.2 million position. Other funds with long stakes include Joel Ramin’s 12 West Capital Management, Philippe Laffont’s Coatue Management and Ken Griffin’s Citadel Investment Group.
On the other hand, oe DiMenna’s ZWEIG DIMENNA PARTNERS dumped its stake in Shake Shack, worth close to $6.8 million in call options, and Frank Slattery’s Symmetry Peak Management was right behind this move, as the fund said goodbye to about $3.3 million worth of shares.
“The SEG Stockholders may sell A-Common Shares in market transactions during the Issuer’s current trading window, which opened on March 9, 2016 will close on March 30, 2016, unless shortened or extended by the Issuer. All such sales will be “Exempt Sales” under the Trading Agreement and therefore cannot exceed an aggregate of 50,000 shares for all SEG Stockholders on any trading day. Such sales will be subject to market conditions and the discretion of Select Equity (including as to sales price), and there can be no assurance as to the number of shares that may be sold by the SEG Stockholders during any trading day during the trading window,” the filing added.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Select Equity Group||0||3,392,935||0||3,392,935||3,392,935||8.9%|
|SEG Partners Holdings||0||303,559||0||303,559||303,559||0.8%|
|SEG Partners II||0||1,180,715||0||1,180,715||1,180,715||3.1%|
|SEG Partners II Holdings||0||1,180,715||0||1,180,715||1,180,715||3.1%|
|SEG Partners Offshore Master Fund, Ltd. (98-1007715)||0||1,908,661||0||1,908,661||1,908,661||5.0%|
|George S. Loening||0||3,392,935||0||3,392,935||3,392,935||8.9%|
|Evan C. Guillemin||8,251||0||8,251||0||8,251||0.02%|
Page 1 of 15 SEC Filing
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(Amendment No. 4)*
(Name of Issuer)
(Title of Class of Securities)
Select Equity Group, L.P.
Authorized to Receive Notices and Communications)
(Date of Event Which Requires Filing of Statement on Schedule 13D)