Select Equity Group Reports 8.9% stake in Shake Shack Inc. (SHAK)

(1) Name of Reporting Persons:

I.R.S. Identification No. of Above Persons (entities only):

SEG Partners L.P. (13-3991804)

(2) Check the Appropriate Box if a Member of a Group (See Instructions):

(a) ☐

(b) ☒

(3) SEC Use Only:

(4) Source of Funds (See Instructions): WC

(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e): ☐

(6) Citizenship or Place of Organization:

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED
BY EACH
REPORTING
PERSON WITH:

(7) Sole Voting

Power 0

(8) Shared Voting

Power 303,559

(9) Sole Dispositive

Power 0

(10) Shared Dispositive

Power 303,559

(11) Aggregate Amount Beneficially Owned by Each Reporting Person:

303,559

(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions): ☐

(13) Percent of Class Represented by Amount in Row (11):

0.8%*

(14) Type of Reporting Person (See Instructions): PN

Page 3 of 15 SEC Filing

(1) Name of Reporting Persons: I.R.S. Identification No. of Above Persons (entities only): SEG Partners L.P. (13-3991804)
(2) Check the Appropriate Box if a Member of a Group (See Instructions): (a) ☐ (b) ☒
(3) SEC Use Only:
(4) Source of Funds (See Instructions): WC
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e): ☐
(6) Citizenship or Place of Organization: Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	(7) Sole Voting Power 0
	(8) Shared Voting Power 303,559
	(9) Sole Dispositive Power 0
	(10) Shared Dispositive Power 303,559
(11) Aggregate Amount Beneficially Owned by Each Reporting Person: 303,559
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): ☐
(13) Percent of Class Represented by Amount in Row (11): 0.8%*
(14) Type of Reporting Person (See Instructions): PN