SHAKE SHACK INC

Ticker: SHAK CUSIP: 819047101 Class: EQTY

Madison Asset Management, LLC's Holding History (CIK: 0001299351)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 58,404 Value ($000) $4,741 Avg Close $88.17 Range $76.51 - $97.80

Q3 2025

Shares 42,552 Value ($000) $3,983 Avg Close $114.90 Range $91.85 - $144.65

Q2 2025

Shares 43,008 Value ($000) $6,047 Avg Close $108.92 Range $72.93 - $141.06

Q1 2025

Shares 51,251 Value ($000) $4,519 Avg Close $108.51 Range $81.31 - $138.45

Q4 2024

Shares 44,901 Value ($000) $5,828 Avg Close $122.51 Range $100.71 - $139.89

Q3 2024

Shares 49,445 Value ($000) $5,103 Avg Close $96.33 Range $77.50 - $111.17

Q2 2024

Shares 38,181 Value ($000) $3,436 Avg Close $97.58 Range $86.89 - $111.29

Q1 2024

Shares 37,875 Value ($000) $3,940 Avg Close $87.53 Range $64.16 - $110.90

Q4 2023

Shares 84,062 Value ($000) $6,231 Avg Close $61.32 Range $52.79 - $76.74

Q3 2023

Shares 55,087 Value ($000) $3,199 Avg Close $71.08 Range $56.22 - $80.58

Q2 2023

Shares 62,585 Value ($000) $4,864 Avg Close $64.25 Range $52.64 - $79.33

Q1 2023

Shares 92,066 Value ($000) $5,109 Avg Close $55.18 Range $40.90 - $61.39

Q4 2022

Shares 95,517 Value ($000) $4 Avg Close $48.72 Range $40.83 - $56.83

Q3 2022

Shares 66,166 Value ($000) $2,976 Avg Close $48.00 Range $38.69 - $54.88

Q2 2022

Shares 56,927 Value ($000) $2,247 Avg Close $51.03 Range $37.72 - $70.82

Q1 2022

Shares 56,573 Value ($000) $3,841 Avg Close $68.81 Range $58.19 - $79.62

Q4 2021

Shares 56,684 Value ($000) $4,090 Avg Close $76.05 Range $66.26 - $100.85

Q3 2021

Shares 39,220 Value ($000) $3,077 Avg Close $91.01 Range $77.59 - $109.88

Q2 2021

Shares 38,982 Value ($000) $4,172 Avg Close $100.90 Range $78.00 - $120.23

Q1 2021

Shares 32,607 Value ($000) $3,677 Avg Close $114.44 Range $82.16 - $138.38

Q4 2020

Shares 33,780 Value ($000) $2,864 Avg Close $77.61 Range $63.77 - $91.99

Q3 2020

Shares 33,780 Value ($000) $2,178 Avg Close $57.97 Range $47.12 - $72.49

Q2 2020

Shares 34,870 Value ($000) $1,847 Avg Close $50.57 Range $30.57 - $63.80

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	58,404	$4,741	$88.17	$76.51 - $97.80
Q3 2025	42,552	$3,983	$114.90	$91.85 - $144.65
Q2 2025	43,008	$6,047	$108.92	$72.93 - $141.06
Q1 2025	51,251	$4,519	$108.51	$81.31 - $138.45
Q4 2024	44,901	$5,828	$122.51	$100.71 - $139.89
Q3 2024	49,445	$5,103	$96.33	$77.50 - $111.17
Q2 2024	38,181	$3,436	$97.58	$86.89 - $111.29
Q1 2024	37,875	$3,940	$87.53	$64.16 - $110.90
Q4 2023	84,062	$6,231	$61.32	$52.79 - $76.74
Q3 2023	55,087	$3,199	$71.08	$56.22 - $80.58
Q2 2023	62,585	$4,864	$64.25	$52.64 - $79.33
Q1 2023	92,066	$5,109	$55.18	$40.90 - $61.39
Q4 2022	95,517	$4	$48.72	$40.83 - $56.83
Q3 2022	66,166	$2,976	$48.00	$38.69 - $54.88
Q2 2022	56,927	$2,247	$51.03	$37.72 - $70.82
Q1 2022	56,573	$3,841	$68.81	$58.19 - $79.62
Q4 2021	56,684	$4,090	$76.05	$66.26 - $100.85
Q3 2021	39,220	$3,077	$91.01	$77.59 - $109.88
Q2 2021	38,982	$4,172	$100.90	$78.00 - $120.23
Q1 2021	32,607	$3,677	$114.44	$82.16 - $138.38
Q4 2020	33,780	$2,864	$77.61	$63.77 - $91.99
Q3 2020	33,780	$2,178	$57.97	$47.12 - $72.49
Q2 2020	34,870	$1,847	$50.57	$30.57 - $63.80