Market Overview

Leonard Green & Partners 13F Shows 9.2 Million Shares Of Shake Shack


The private equity investor Leonard Green & Partners L.P. took a $460 million stake in Shake Shack Inc (NYSE: SHAK) during the first quarter, according to a regulatory filing Friday.

The company held about 9.2 million shares of Shake Shack as of March 31.

The New York-based restaurant chain's shares are up more than 75 percent since going public in January.

Shake Shack rose sharply Thursday on higher-than-expected quarterly results, and traded recently on Friday at $68.89, up $3.39.

Green makes selective public equity investments while focusing on buyouts, going-private transactions and recapitalizations.

Green also disclosed that during the first quarter it opened a $430 million position in Nordstrom, Inc. (NYSE: JWN) and a $76 million position in Bed Bath & Beyond Inc. (NASDAQ: BBBY).

Nordstrom is off 6 percent since January 31; Bed Bath is off nearly 4 percent.

Green exited its $38 million position in Foot Locker, Inc. (NYSE: FL) during the first quarter along with its $14.9 million holdings in DSW Inc. (NYSE: DSW).

Foot Locker shares have gained nearly 10 percent year-to-date while DSW is down about 6 percent.

The value of Green's holdings as of March 31 according to its recent 13F filing rose to nearly $1.9 billion, up from $1.35 billion reported in an amended 13F filing for the period ended December 31.

Posted-In: 13-F 13F Leonard Green & Partners L.P.News Hedge Funds General


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