Shake Shack Inc. (SHAK): Select Equity Group Cuts Stake By 23%

(1) Name of Reporting Persons:

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

SEG Partners Holdings, LLC (13-3991559)

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

(a) [ ]

(b) [X]

(3) SEC Use Only:

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

(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 112,931

(9) Sole Dispositive

Power 0

(10) Shared Dispositive

Power 112,931

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

112,931

(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):

0.3%*

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

Page 4 of 15 – SEC Filing

(1) Name of Reporting Persons: I.R.S. Identification No. of Above Persons (entities only): SEG Partners Holdings, LLC (13-3991559)
(2) Check the Appropriate Box if a Member of a Group (See Instructions): (a) [ ] (b) [X]
(3) SEC Use Only:
(4) Source of Funds (See Instructions): AF
(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 112,931
	(9) Sole Dispositive Power 0
	(10) Shared Dispositive Power 112,931
(11) Aggregate Amount Beneficially Owned by Each Reporting Person: 112,931
(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): 0.3%*
(14) Type of Reporting Person (See Instructions): OO