Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  SEG Partners Offshore Master Fund, Ltd.
 2. Date of Event Requiring Statement (Month/Day/Year)
02/04/2015		 3. Issuer Name and Ticker or Trading Symbol
Shake Shack Inc. [SHAK]
(Last)
(First)
(Middle)
C/O SELECT EQUITY GROUP, 380 LAFAYETTE STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See Remarks
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10003		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Class B Common Stock, par value $0.001 per share 2,548,516
I
See Footnote (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Common Membership Interests   (2)   (2) Class A Common Stock, par value $0.001 per share 2,548,516 $ (2) I See Footnote (3)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SEG Partners Offshore Master Fund, Ltd.
C/O SELECT EQUITY GROUP
380 LAFAYETTE STREET
NEW YORK, NY 10003		   X   X   See Remarks

Signatures

SEG PARTNERS OFFSHORE MASTER FUND, LTD, By: /s/ George S. Loening 02/06/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Class B Shares (as defined below) held directly by SEGPO Investment Corp. LLC ("SEGPO"). As of February 4, 2015, SEG Offshore Master owned the entire equity interest in SEGPO. The Class B Shares (i) confer no incidents of economic ownership on the holders thereof, (ii) only confer voting rights on the holders thereof and (iii) may only be issued, on a one-for-one basis, to the permitted holders of LLC Interests.
(2) The common membership interests of SSE Holdings (the "LLC Interests") are redeemable (together with a corresponding number of shares of Class B common stock, par value $.001 per share of Shake Shack Inc. ("Class B Shares")) at any time and from time to time for an equal number of shares of Class A common stock, par value $.001 per share of Shake Shack Inc. or, at the election of Shake Shack Inc., cash equal to the volume-weighted average market price of such shares. The LLC Interests have no expiration date.
(3) LLC Interests held directly by SEGPO. As of February 4, 2015, SEG Offshore Master owned the entire equity interest in SEGPO.
 
Remarks:
Solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, SEG Partners Offshore Master Fund, Ltd. ("SEG Offshore Master") and certain affiliates of SEG Offshore Master may be deemed to be directors-by-designation by virtue of their right to designate a member of the board of directors of the Issuer.  SEG Offshore Master and such affiliates have designated Evan C. Guillemin as a member of the board of directors of the Issuer.

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