QSR
Restaurant Brands International Inc. · Consumer Cyclical · Restaurants
Momentum inputs (comparable managers):
holder breadth +15.0% ·
share flow +3.5% ·
net new positions +8.7%
— formula
Broad accumulation — rising shares across more holders
All ownership figures: tracked 13F managers only, common-stock positions, reporting period Q3 2025
| Quarter | Holders | Δ | Shares | Reported value | New | Exits |
|---|---|---|---|---|---|---|
| Q2 2026 | 125 | 0 | 221.45M | $16.12B | +9 | −10 |
| Q1 2026 | 130 | +4 | 225.28M | $16.66B | +7 | −4 |
| Q4 2025 | 126 | -1 | 227.74M | $15.55B | +2 | −2 |
| Q3 2025 | 23 | +3 | 135.86M | $8.72B | +4 | −2 |
| Q2 2025 | 18 | 0 | 115.03M | $7.63B | +2 | −2 |
| Q1 2025 | 15 | -1 | 81.72M | $5.45B | +2 | −3 |
| Q4 2024 | 16 | 0 | 78.56M | $5.12B | +1 | −1 |
| Q3 2024 | 15 | +3 | 75.33M | $5.43B | +4 | −1 |
| Q2 2024 | 12 | — | 72.02M | $5.07B | — | — |
| # | Manager | Shares | Δ shares | Value | Their weight | Held | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Capital World Investors ✦ | 40.43M | -6.0% | $2.59B | 0.4% | ▼ Trim | 6 | SEC ↗ |
| 2 | Pershing Square Capital Management ✦ | 22.92M | -0.4% | $1.47B | 10.0% | ▼ Trim | 6 | SEC ↗ |
| 3 | The Vanguard Group ✦ (passive) | 15.64M | +2.2% | $1.00B | 0.0% | ▲ Add | 2 | SEC ↗ ×5 |
| 4 | Goldman Sachs Group ✦ | 10.24M | — | $656.52M | 0.1% | n/c | 1 | SEC ↗ ×2 |
| 5 | Fidelity (FMR) ✦ | 8.77M | -3.6% | $562.65M | 0.0% | ▼ Trim | 2 | SEC ↗ ×5 |
| 6 | Baupost Group ✦ | 8.25M | +103.8% | $529.34M | 11.1% | ▲ Add | 5 | SEC ↗ |
| 7 | BlackRock ✦ (passive) | 7.29M | +2.5% | $467.90M | 0.0% | ▲ Add | 2 | SEC ↗ ×9 |
| 8 | Morgan Stanley ✦ | 6.79M | — | $435.33M | 0.0% | n/c | 1 | SEC ↗ ×10 |
| 9 | Geode Capital Management ✦ (passive) | 4.92M | +14.6% | $322.95M | 0.0% | ▲ Add | 6 | SEC ↗ ×2 |
| 10 | State Street Global Advisors ✦ (passive) | 3.12M | +4.1% | $202.04M | 0.0% | ▲ Add | 4 | SEC ↗ |
| 11 | JPMorgan Chase ✦ | 3.05M | — | $195.32M | 0.0% | n/c | 1 | SEC ↗ ×22 |
| 12 | Citadel Advisors ✦ | 1.89M | New | $121.53M | 0.1% | New | 1 | SEC ↗ ×2 |
| 13 | Duquesne Family Office ✦ | 1.13M | +50.6% | $72.57M | 1.8% | ▲ Add | 2 | SEC ↗ |
| 14 | Point72 Asset Management ✦ | 870.10K | New | $55.81M | 0.1% | New | 1 | SEC ↗ |
| 15 | T. Rowe Price ✦ | 149.65K | +13.2% | $9.60M | 0.0% | ▲ Add | 2 | SEC ↗ ×2 |
| 16 | Bridgewater Associates ✦ | 113.91K | +775.6% | $7.31M | 0.0% | ▲ Add | 6 | SEC ↗ |
| 17 | Millennium Management ✦ | 62.45K | -92.4% | $4.01M | 0.0% | ▼ Trim | 5 | SEC ↗ |
| 18 | D. E. Shaw & Co. ✦ | 57.80K | New | $3.71M | 0.0% | New | 1 | SEC ↗ |
| 19 | Marshall Wace ✦ | 45.95K | New | $2.95M | 0.0% | New | 1 | SEC ↗ ×2 |
| 20 | PRIMECAP Management ✦ | 37.60K | -44.9% | $2.41M | 0.0% | ▼ Trim | 6 | SEC ↗ |
| 21 | Gotham Asset Management ✦ | 33.47K | +126.3% | $2.15M | 0.0% | ▲ Add | 3 | SEC ↗ |
| 22 | Wellington Management ✦ | 23.55K | +0.6% | $1.51M | 0.0% | ▲ Add | 6 | SEC ↗ ×2 |
| 23 | AQR Capital Management ✦ | 21.73K | +518.0% | $1.39M | 0.0% | ▲ Add | 3 | SEC ↗ ×5 |
“Their weight” = the position's share of that manager's reported 13F equity value — the conviction measure. ✦ = curated manager.
New buyers
| Citadel Advisors | $121.53M | 0.1% |
| Point72 Asset Management | $55.81M | 0.1% |
| D. E. Shaw & Co. | $3.71M | 0.0% |
| Marshall Wace | $2.95M | 0.0% |
Exited
| Norges Bank | $254.95M | was 0.0% |
| Arrowstreet Capital | $32.46M | was 0.0% |
Full-market context: across ALL 13F filers (SEC structured data, Q1 2026): 544 holders, 300.69M shares, $21.03B reported. This is a different, older period than the tracked-universe figures above and the two are never mixed.
What else this security's tracked holders most often hold — shared-ownership counts, not fundamental relationships.
Open-market purchases (P)
No open-market insider purchases in our coverage window.
Open-market sales (S)
Officer · 57.57K sh · $4.67M
Officer · 64.00K sh · $5.17M
Awards, exercises and tax withholding are never counted as buys or sales here. Methodology
21.3% of class · View original SEC filing ↗
22.1% of class · View original SEC filing ↗