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

Page 2 of 15 – SEC Filing

CUSIP No. 819047 101

Schedule 13D

Page 2 of 15 Pages

(1)       Name of Reporting Persons: I.R.S. Identification No. of Above Persons (entities only): Select Equity Group, L.P. (46-3465710)
(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 1,238,767
	(9)       Sole Dispositive Power 0
	(10)      Shared Dispositive Power 1,238,767
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person: 1,238,767
(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): 3.4%*
(14)     Type of Reporting Person (See Instructions):   PN

Note:  All share numbers on these cover pages presented on an as-converted basis.

* Beneficial ownership of the voting stock based on 36,329,750 shares of Common Stock outstanding on an as-converted basis as of August 3, 2016, as reported in the Issuer’s Form 10-Q for the quarter ended June 29, 2016.