Restaurant Brands InternQSR
13F holders, Q2 2025 (June 30)At the end of Q2 2025, 454 institutions reported holding Restaurant Brands Intern (QSR) in their 13F filings, down 4 from Q1 2025. 60 opened new positions and 63 sold out. The largest holders were Capital World Investors ($2.9B), Pershing Square ($1.5B) and Royal Bank of Canada ($1.4B). 8 famous investors held it, including Bill Ackman (11.1% of Pershing Square's portfolio), Seth Klarman (6.5% of Baupost Group's portfolio) and Stanley Druckenmiller (1.3% of Duquesne Family Office's portfolio).
- Company
- Restaurant Brands Intern
- CUSIP
- 76131D103
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q1 2025 → Q2 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 60 | $269.5M |
| Exits | 63 | $465.0M |
All 13F filers, Q1 2025 → Q2 2025: 33,358,726 shares bought and 26,506,242 shares sold, net +6,852,484 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 454 holders
| Capital World Investors | 0.42% | Add +1.0% | 43,010,053 | $2.9B |
| Pershing Square | 11.11% | No change | 23,000,914 | $1.5B |
| Royal Bank of Canada | 0.27% | Reduce -6.7% | 21,107,913 | $1.4B |
| Vanguard Group Inc. | 0.02% | Add +8.0% | 15,303,726 | $1.0B |
| EdgePoint Investment Group Inc. | 6.50% | Reduce -5.8% | 12,919,854 | $857.6M |
| Bank of Montreal | 0.38% | Reduce -0.4% | 11,321,433 | $751.5M |
| Goldman Sachs Group Inc. | 0.11% | Add +22.1% | 9,904,392 | $656.6M |
| FMR LLC | 0.03% | Add +12.5% | 9,095,773 | $603.3M |
| BlackRock, Inc. | 0.01% | Add +2919.3% | 7,117,775 | $471.8M |
| 1832 Asset Management L.P. | 0.79% | Reduce -1.7% | 6,840,030 | $453.4M |
| FIL Ltd | 0.33% | Add +7.1% | 5,746,631 | $381.2M |
| Beutel, Goodman & Co Ltd. | 2.12% | Reduce -3.0% | 5,624,674 | $372.4M |
| TD Asset Management Inc | 0.31% | Add +18.5% | 5,486,897 | $363.2M |
| Geode Capital Management, LLC | 0.02% | Add +112.8% | 4,296,050 | $286.2M |
| Fiera Capital Corp | 0.95% | Add +0.1% | 4,221,623 | $279.9M |
| Morgan Stanley | 0.02% | Add +107.5% | 4,115,907 | $272.8M |
| Baupost Group | 6.52% | Add +4.2% | 4,049,562 | $268.4M |
| Norges Bank | 0.03% | Reduce -8.3% | 3,842,462 | $254.9M |
| National Bank of Canada | 0.26% | Reduce -9.9% | 3,576,889 | $236.5M |
| Davis Selected Advisers | 1.21% | Add +1.4% | 3,419,715 | $226.7M |
| JARISLOWSKY, FRASER Ltd | 1.29% | Reduce -45.2% | 3,411,337 | $225.8M |
| Invesco Ltd. | 0.04% | Add +24.4% | 3,291,340 | $218.2M |
| Meritage Group LP | 5.96% | Reduce -0.6% | 3,280,877 | $217.5M |
| State Street Corp. | 0.01% | Add +9477.4% | 2,997,344 | $198.7M |
| Canada Pension Plan Investment Board | 0.16% | Add +56.4% | 2,855,081 | $189.5M |
| Cibc World Market Inc. | 0.40% | Reduce -25.3% | 2,708,154 | $179.5M |
| Capital Research Global Investors | 0.03% | Reduce -53.7% | 2,591,542 | $171.8M |
| Canoe Financial LP | 2.40% | Add +10.1% | 2,539,975 | $168.6M |
| Bank of America Corp. | 0.01% | Add +54.6% | 2,339,967 | $155.1M |
| CIBC Asset Management Inc | 0.48% | Reduce -27.4% | 2,287,372 | $152.3M |
| Mackenzie Financial Corp. | 0.17% | Reduce -60.8% | 1,926,427 | $127.9M |
| Burgundy Asset Management Ltd. | 1.02% | Reduce -0.4% | 1,586,110 | $105.0M |
| JPMorgan Chase & Co. | 0.01% | Add +2.6% | 1,530,765 | $101.5M |
| Legal & General Group Plc | 0.02% | Reduce -1.3% | 1,509,601 | $99.9M |
| Scotia Capital Inc. | 0.47% | Add +1.2% | 1,498,889 | $99.1M |
| Bank of Nova Scotia | 0.18% | Reduce -22.0% | 1,302,022 | $86.3M |
| TD Waterhouse Canada Inc. | 0.59% | Add +1.0% | 1,219,838 | $82.7M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.29% | Reduce -8.5% | 1,224,721 | $81.3M |
| Toronto Dominion Bank | 0.17% | Add +7.7% | 1,151,580 | $76.4M |
| Guardian Capital LP | 2.68% | Add +2.5% | 1,146,048 | $75.9M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.02% | Add +57.8% | 1,123,651 | $74.5M |
| Dimensional Fund Advisors LP | 0.02% | Add +5.1% | 1,098,563 | $72.8M |
| Alberta Investment Management Corp | 0.60% | Reduce -22.5% | 1,070,500 | $71.0M |
| RDST Capital LLC | 6.41% | Reduce -20.6% | 968,064 | $64.2M |
| Aviso Financial Inc. | 2.87% | Add +0.6% | 958,434 | $63.6M |
| Woodline Partners LP | 0.33% | Add +1131.9% | 948,519 | $62.9M |
| Swiss National Bank | 0.04% | Add +8.0% | 945,730 | $62.5M |
| Epoch Investment Partners, Inc. | 0.32% | Reduce -4.5% | 927,432 | $61.5M |
| Northern Trust Corp. | 0.01% | Add +190.6% | 911,416 | $60.4M |
| Charles Schwab Investment Management Inc. | 0.01% | Add +18.8% | 908,004 | $60.1M |
| River Road Asset Management, LLC | 0.74% | Add +90.5% | 863,170 | $58.6M |
| Corvex Management LP | 2.45% | New | 873,183 | $57.9M |
| Bank of New York Mellon Corp | 0.01% | Add +136.2% | 841,292 | $55.8M |
| Manufacturers Life Insurance Company, The | 0.05% | Reduce -29.7% | 827,060 | $54.6M |
| Millennium Management | 0.05% | Add +58.6% | 818,947 | $54.3M |
| Duquesne Family Office | 1.27% | New | 751,010 | $49.8M |
| Nuveen, LLC | 0.01% | Add +189.7% | 699,464 | $46.3M |
| Intact Investment Management Inc. | 1.54% | Reduce -2.1% | 686,591 | $45.5M |
| Cidel Asset Management Inc. | 2.66% | Add +2.3% | 669,683 | $44.3M |
| Federation des caisses Desjardins du Quebec | 0.19% | Reduce -53.5% | 648,145 | $42.9M |
| Man Group plc | 0.09% | Add +83.1% | 621,252 | $41.2M |
| GW&K Investment Management, LLC | 0.36% | Reduce -1.9% | 599,280 | $39.7M |
| Raymond James Financial Inc. | 0.01% | Add +2.6% | 578,345 | $38.3M |
| Continental Grain Co. | 10.43% | No change | 559,178 | $37.4M |
| Mufg Securities (canada), LTD. | 1.12% | Add +12.2% | 555,421 | $36.8M |
| Arrowstreet Capital, Limited Partnership | 0.02% | Reduce -53.9% | 489,232 | $32.5M |
| Envestnet Asset Management Inc. | 0.01% | Add +6.8% | 485,946 | $32.2M |
| Scheer, Rowlett & Associates Investment Management Ltd. | 2.04% | Reduce -23.5% | 475,142 | $31.5M |
| Letko, Brosseau & Associates Inc. | 0.60% | Add +4.7% | 472,917 | $31.3M |
| UBS Group AG | 0.01% | Reduce -39.0% | 463,150 | $30.7M |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd | 3.39% | Add +81.3% | 462,958 | $30.7M |
| Deutsche Bank AG | 0.01% | Add +8.2% | 451,937 | $30.0M |
| Janus Henderson Group PLC | 0.01% | Add +1.8% | 451,763 | $29.9M |
| Addenda Capital Inc. | 1.06% | Reduce -1.7% | 324,331 | $29.6M |
| MIC Capital Management UK LLP | 5.03% | No change | 386,203 | $25.6M |
| Cannell & Spears LLC | 0.47% | Reduce -1.7% | 351,554 | $23.3M |
| Amundi | 0.01% | Add +48.5% | 341,198 | $23.3M |
| Baskin Financial Services Inc. | 1.74% | Add +1.3% | 346,623 | $23.0M |
| Capital International Sarl | 0.42% | Add +5.9% | 330,643 | $21.9M |
| Rhumbline Advisers | 0.02% | Add +5463.0% | 315,256 | $20.9M |
| Soroban Capital Partners LP | 0.19% | No change | 300,000 | $19.9M |
| Bank of Nova Scotia Trust Co. | 1.90% | Add +0.2% | 290,751 | $19.3M |
| JCP Investment Management, LLC | 11.11% | Add +21.1% | 290,438 | $19.3M |
| Picton Mahoney Asset Management | 0.27% | New | 289,511 | $19.1M |
| Wells Fargo & Company | 0.00% | Add +36.5% | 286,754 | $19.0M |
| Aviva PLC | 0.03% | Add +141.0% | 233,337 | $15.5M |
| Capital International Ltd. | 0.59% | Add +3.8% | 232,717 | $15.4M |
| Balyasny Asset Management L.P. | 0.04% | New | 229,055 | $15.2M |
| Korea Investment CORP | 0.03% | Reduce -17.6% | 226,243 | $15.0M |
| Hudson Bay Capital Management LP | 0.11% | New | 221,102 | $14.7M |
| Rockefeller Capital Management L.P. | 0.03% | Reduce -0.4% | 219,299 | $14.5M |
| Twinbeech Capital LP | 0.33% | New | 218,225 | $14.5M |
| CANADA LIFE ASSURANCE Co | 0.02% | Reduce -26.5% | 215,657 | $14.3M |
| Galibier Capital Management Ltd. | 4.16% | Add +29.2% | 209,015 | $13.8M |
| Dana Investment Advisors, Inc. | 0.44% | Reduce -6.7% | 199,091 | $13.2M |
| Capital International, Inc. | 0.12% | Add +11.4% | 190,419 | $12.6M |
| State of Tennessee, Department of Treasury | 0.04% | No change | 179,975 | $11.9M |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | 0.07% | Reduce -1.6% | 177,506 | $11.8M |
| First Manhattan Co. Llc. | 0.03% | Add +822.0% | 174,441 | $11.6M |
| Barclays PLC | 0.00% | Add +247.6% | 162,233 | $10.8M |
| Verition Fund Management LLC | 0.06% | Add +29.6% | 156,800 | $10.4M |
| Treasurer of the State of North Carolina | 0.03% | New | 151,140 | $10.0M |
| Alta Capital Management LLC/ | 0.56% | Add +5.5% | 147,519 | $9.8M |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.02% | Reduce -8.2% | 139,845 | $9.3M |
| Alliancebernstein L.P. | 0.00% | Add +281.9% | 137,794 | $9.1M |
| T. Rowe Price Associates Inc. | 0.00% | New | 132,202 | $8.8M |
| New York State Common Retirement Fund | 0.01% | New | 129,500 | $8.6M |
| Cullen/Frost Bankers, Inc. | 0.11% | Add +90.6% | 128,943 | $8.5M |
| Capula Management Ltd | 0.10% | New | 124,539 | $8.3M |
| Armistice Capital, LLC | 0.31% | New | 124,391 | $8.2M |
| Public Employees Retirement System of Ohio | 0.03% | Add +123.8% | 120,184 | $8.0M |
| Pictet Asset Management Holding SA | 0.01% | Add +3.5% | 118,719 | $7.9M |
| Mn Services Vermogensbeheer B.V. | 0.05% | Add +8.3% | 116,300 | $7.7M |
| Citigroup Inc. | 0.01% | Reduce -29.8% | 112,418 | $7.4M |
| Jane Street Group, LLC | 0.01% | Reduce -84.1% | 112,089 | $7.4M |
| HSBC Holdings PLC | 0.00% | Add +15.2% | 111,847 | $7.4M |
| Cadence Bank | 0.49% | Add +49.2% | 111,601 | $7.4M |
| Voya Investment Management LLC | 0.01% | New | 102,712 | $6.8M |
| Northwest & Ethical Investments L.P. | 0.17% | Add +6.8% | 102,105 | $6.8M |
| Franklin Resources Inc. | 0.00% | Add +3.7% | 94,141 | $6.2M |
| Northwestern Mutual Wealth Management Co. | 0.00% | Add +8.7% | 88,487 | $5.9M |
| AIA Group Ltd | 0.13% | Add +20.7% | 88,015 | $5.8M |
| Teachers Retirement System of the State of Kentucky | 0.05% | No change | 86,700 | $5.7M |
| Massachusetts Financial Services Co. | 0.00% | Reduce -86.2% | 81,494 | $5.4M |
| Allspring Global Investments Holdings, LLC | 0.01% | Add +11.3% | 78,845 | $5.4M |
| American Century Companies Inc. | 0.00% | Add +37.7% | 75,670 | $5.0M |
| Earnest Partners LLC | 0.02% | Reduce -7.1% | 74,778 | $5.0M |
| Capricorn Fund Managers Ltd | 2.34% | Reduce -8.2% | 74,587 | $4.9M |
| Louisbourg Investments Inc. | 1.16% | Add +11.2% | 74,109 | $4.9M |
| Consolidated Capital Management, LLC | 1.75% | Add +3.7% | 73,162 | $4.8M |
| Engineers Gate Manager LP | 0.06% | Add +465.1% | 72,880 | $4.8M |
| Nebula Research & Development LLC | 0.39% | New | 69,833 | $4.6M |
| Primecap Management Co. | 0.00% | Reduce -30.5% | 68,240 | $4.5M |
| Forsta Ap-Fonden | 0.03% | Reduce -3.4% | 67,900 | $4.5M |
| Partners Capital Investment Group, LLP | 0.17% | Reduce -56.2% | 63,878 | $4.2M |
| Journey Advisory Group, LLC | 0.32% | Reduce -1.9% | 61,913 | $4.1M |
| State Board of Administration of Florida Retirement System | 0.01% | New | 61,073 | $4.0M |
| Lansforsakringar Fondforvaltning AB (publ) | 0.02% | Reduce -9.5% | 61,067 | $4.0M |
| Neuberger Berman Group LLC | 0.00% | Reduce -14.1% | 60,058 | $4.0M |
| Qsemble Capital Management, LP | 0.38% | New | 59,648 | $4.0M |
| LPL Financial LLC | 0.00% | Add +11.3% | 58,965 | $3.9M |
| Asset Management One Co., Ltd. | 0.01% | Add +20.9% | 57,318 | $3.8M |
| Creative Planning | 0.00% | Reduce -4.3% | 56,879 | $3.8M |
| Russell Investments Group, Ltd. | 0.00% | Reduce -29.6% | 56,634 | $3.7M |
| Utah Retirement Systems | 0.04% | Add +47.8% | 52,904 | $3.5M |
| Tidal Investments LLC | 0.02% | Reduce -22.6% | 52,443 | $3.5M |
| Sei Investments Co. | 0.00% | Add +188.0% | 52,335 | $3.5M |
| Natixis Advisors, LLC | 0.01% | Add +0.1% | 51,634 | $3.4M |
| Cary Street Partners Financial LLC | 0.10% | New | 51,046 | $3.4M |
| Inkwell Capital LLC | 3.62% | Reduce -1.1% | 50,838 | $3.4M |
| Police & Firemen's Retirement System of New Jersey | 0.03% | New | 49,156 | $3.3M |
| Harvest Portfolios Group Inc. | 0.08% | Add +8.0% | 48,906 | $3.2M |
| Iridian Asset Management LLC | 1.07% | Reduce -59.8% | 46,615 | $3.1M |
| Qube Research & Technologies Ltd | 0.00% | Reduce -70.8% | 45,339 | $3.0M |
| Skandinaviska Enskilda Banken AB (publ) | 0.01% | No change | 44,864 | $3.0M |
| Commerce Bank | 0.02% | New | 44,554 | $3.0M |
| Capital Group Investment Management Pte. LTD. | 0.52% | Add +4.9% | 44,314 | $2.9M |
| Gateway Investment Advisers LLC | 0.03% | Add +0.0% | 44,220 | $2.9M |
| Quartz Partners, LLC | 1.30% | Add +15.4% | 42,751 | $2.8M |
| DekaBank Deutsche Girozentrale | 0.01% | Add +1.3% | 42,344 | $2.8M |
| Nichols & Pratt Advisers LLP | 0.19% | Add +16.7% | 41,873 | $2.8M |
| Founders Capital Management, LLC | 0.48% | Reduce -0.3% | 41,816 | $2.8M |
| Cetera Investment Advisers | 0.00% | Add +1.8% | 40,618 | $2.7M |
| Stifel Financial Corp. | 0.00% | Reduce -0.9% | 38,758 | $2.6M |
| Savoir Faire Capital Management, L.P. | 1.19% | Add +39.6% | 37,032 | $2.5M |
| STRS Ohio | 0.01% | New | 35,756 | $2.4M |
| Delta Global Management LP | 0.16% | New | 35,679 | $2.4M |
| Seascape Capital Management | 0.74% | Add +7.8% | 35,489 | $2.4M |
| Truist Financial Corp. | 0.00% | Add +0.3% | 35,059 | $2.3M |
| Orion Porfolio Solutions, LLC | 0.02% | Add +47.1% | 34,576 | $2.3M |
| Xponance LLC | 0.02% | New | 34,535 | $2.3M |
| Squarepoint Ops LLC | 0.01% | Add +48.2% | 34,214 | $2.3M |
| Arkadios Wealth Advisors | 0.07% | Add +12.1% | 34,135 | $2.3M |
| AXA S.A. | 0.01% | Reduce -42.8% | 33,199 | $2.2M |
| Oppenheimer & Co. Inc. | 0.03% | Add +10.6% | 32,509 | $2.2M |
| Commonwealth Equity Services, LLC | 0.00% | Add +9.5% | 32,405 | $2.1M |
| SIG North Trading, ULC | 0.46% | Add +211.7% | 31,793 | $2.1M |
| Public Sector Pension Investment Board | 0.01% | Add +1.3% | 31,745 | $2.1M |
| Macquarie Group Ltd. | 0.00% | No change | 23,238 | $2.1M |
| Waverly Advisors, LLC | 0.02% | Add +0.7% | 30,298 | $2.0M |
| Aigen Investment Management, LP | 0.27% | Add +596.7% | 24,913 | $2.0M |
| Assetmark, Inc. | 0.00% | Add +3.7% | 29,470 | $2.0M |
| Avanza Fonder AB | 0.06% | Add +8.3% | 21,589 | $2.0M |
| USS Investment Management Ltd | 0.01% | No change | 28,149 | $1.9M |
| Ameriprise Financial Inc. | 0.00% | Reduce -18.8% | 25,846 | $1.9M |
| Entropy Technologies, LP | 0.15% | New | 27,635 | $1.8M |
| &partners | 0.01% | Add +84.0% | 26,406 | $1.8M |
| Landscape Capital Management, L.L.C. | 0.14% | New | 25,964 | $1.7M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Reduce -3.2% | 24,824 | $1.7M |
| Bennett Selby Investments LP | 0.61% | Reduce -1.4% | 25,650 | $1.7M |
| Capital Fund Management S.A. | 0.02% | Add +76.8% | 25,547 | $1.7M |
| Corient Private Wealth LP | 0.00% | Reduce -6.0% | 25,200 | $1.7M |
| Callahan Advisors, LLC | 0.15% | No change | 25,030 | $1.7M |
| M&T Bank Corp | 0.01% | Add +1.7% | 24,623 | $1.6M |
| Moloney Securities Asset Management, LLC | 0.19% | Add +0.9% | 23,474 | $1.6M |
| Wellington Management Group LLP | 0.00% | Add +22.0% | 23,405 | $1.5M |
| Aspire Private Capital, LLC | 0.36% | Add +6.5% | 23,211 | $1.5M |
| Quantinno Capital Management LP | 0.01% | Reduce -32.2% | 22,885 | $1.5M |
| Lee Financial Co | 0.21% | Add +10.3% | 22,421 | $1.5M |
| Virtu Financial LLC | 0.08% | New | 22,316 | $1.5M |
| Amalgamated Bank | 0.01% | New | 22,072 | $1.5M |
| Royal Fund Management, LLC | 0.16% | Reduce -5.2% | 21,930 | $1.5M |
| Susquehanna International Group, LLP | 0.00% | Reduce -64.7% | 21,471 | $1.4M |
| Mariner, LLC | 0.00% | Add +6.4% | 20,968 | $1.4M |
| California State Teachers Retirement System | 0.00% | New | 20,409 | $1.4M |
| Cerity Partners LLC | 0.00% | Reduce -19.8% | 20,186 | $1.3M |
| Investment Management Corp of Ontario | 0.02% | Reduce -3.9% | 19,938 | $1.3M |
| Osaic Holdings, Inc. | 0.00% | Add +40.8% | 19,701 | $1.3M |
| BNP Paribas Financial Markets | 0.00% | Add +1157.0% | 19,496 | $1.3M |
| Allianz Asset Management GmbH | 0.00% | Reduce -46.9% | 14,843 | $1.3M |
| Fiduciary Trust Co | 0.02% | Reduce -7.9% | 19,055 | $1.3M |
| Hudson Portfolio Management LLC | 1.18% | Reduce -0.5% | 19,042 | $1.3M |
| Wolverine Trading, LLC | 0.03% | Reduce -61.1% | 18,847 | $1.2M |
| Swiss Life Asset Management Ltd | 0.01% | Reduce -16.3% | 18,477 | $1.2M |
| Blueshift Asset Management, LLC | 0.38% | New | 18,432 | $1.2M |
| Capstone Investment Advisors, LLC | 0.01% | New | 17,890 | $1.2M |
| Crossmark Global Holdings, Inc. | 0.02% | Add +0.1% | 17,717 | $1.2M |
| Alerus Financial NA | 0.08% | Reduce -0.6% | 17,503 | $1.2M |
| Westerkirk Capital Inc. | 0.14% | — | 16,590 | $1.1M |
| Prudential Financial Inc. | 0.00% | New | 16,310 | $1.1M |
| Braun Stacey Associates Inc. | 0.04% | Add +0.1% | 16,269 | $1.1M |
| Royal London Asset Management Ltd. | 0.00% | No change | 16,189 | $1.1M |
| Hutner Capital Management Inc. | 0.48% | Reduce -26.3% | 15,954 | $1.1M |
| Maryland State Retirement & Pension System | 0.02% | New | 15,725 | $1.0M |
| Principal Financial Group Inc. | 0.00% | New | 15,537 | $1.0M |
| OneDigital Investment Advisors LLC | 0.01% | Add +39.2% | 15,054 | $998K |
| Walleye Capital LLC | 0.01% | Add +149.4% | 14,959 | $992K |
| Gotham Asset Management | 0.01% | Add +28.3% | 14,788 | $980K |
| MetLife Investment Management, LLC | 0.01% | New | 14,778 | $980K |
| Gulf International Bank (UK) Ltd | 0.03% | Reduce -16.9% | 14,686 | $974K |
| CIBC Private Wealth Group LLC | 0.00% | Reduce -52.0% | 14,310 | $949K |
| 111 Capital | 0.16% | New | 14,275 | $948K |
| Onex Canada Asset Management Inc. | 0.11% | Reduce -55.1% | 14,189 | $941K |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -0.8% | 14,159 | $939K |
| Waterfront Wealth Inc. | 0.20% | Reduce -3.8% | 13,511 | $896K |
| ASR Vermogensbeheer N.V. | 0.01% | No change | 13,364 | $885K |
| Metis Global Partners, LLC | 0.02% | Add +11.4% | 13,270 | $880K |
| Aspiriant, LLC | 0.03% | Add +0.0% | 13,088 | $868K |
| Bridgewater Associates | 0.00% | Reduce -43.8% | 13,010 | $861K |
| Maverick Capital | 0.01% | New | 12,636 | $838K |
| Leonteq Securities AG | 0.05% | Reduce -14.8% | 12,492 | $828K |
| Campbell & CO Investment Adviser LLC | 0.05% | Reduce -38.0% | 12,280 | $814K |
| Lanark Financial, Inc. | 0.07% | Add +6.2% | 12,198 | $808K |
| Banco Santander, S.A. | 0.01% | Reduce -23.0% | 11,787 | $781K |
| Kendall Capital Management | 0.21% | Add +0.9% | 11,725 | $777K |
| Quadrant Capital Group LLC | 0.03% | Reduce -12.8% | 11,281 | $748K |
| Oxford Asset Management LLP | 0.25% | Add +99.3% | 11,263 | $747K |
| Boston Partners | 0.00% | Add +8.4% | 21,542 | $745K |
| Lombard Odier Asset Management (Switzerland) SA | 0.04% | No change | 11,041 | $733K |
| Generali Asset Management SPA SGR | 0.02% | Add +3.8% | 7,975 | $720K |
| Wolverine Asset Management LLC | 0.05% | Add +28.9% | 10,833 | $718K |
| O'shaughnessy Asset Management, LLC | 0.00% | Reduce -3.9% | 10,459 | $693K |
| Vanguard Personalized Indexing Management, LLC | 0.01% | Add +2.4% | 10,330 | $685K |
| Kestra Advisory Services, LLC | 0.00% | Reduce -4.7% | 10,128 | $671K |
| Fiduciary Family Office, LLC | 0.21% | Reduce -41.6% | 9,726 | $645K |
| HB Wealth Management, LLC | 0.01% | Add +22.4% | 9,657 | $640K |
| AE Wealth Management LLC | 0.00% | Reduce -2.3% | 9,631 | $638K |
| Redwood Investment Management, LLC | 0.07% | Reduce -39.9% | 9,500 | $630K |
| Mercer Global Advisors Inc. | 0.00% | Reduce -21.1% | 9,190 | $609K |
| BKM Wealth Management, LLC | 0.24% | Reduce -2.4% | 9,164 | $607K |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Add +6.3% | 9,145 | $606K |
| Cullen Investment Group, LTD. | 0.08% | Add +0.1% | 8,948 | $593K |
| Novare Capital Management LLC | 0.05% | Reduce -87.3% | 8,827 | $585K |
| Prospera Financial Services Inc | 0.01% | Add +47.7% | 8,817 | $585K |
| Sumitomo Life Insurance Co. | 0.04% | Reduce -4.9% | 8,722 | $578K |
| Sumitomo Mitsui DS Asset Management Company, Ltd | 0.01% | Reduce -4.9% | 8,722 | $578K |
| Captrust Financial Advisors | 0.00% | Reduce -14.3% | 8,657 | $574K |
| Ossiam | 0.01% | Reduce -49.5% | 8,530 | $565K |
| D.A. Davidson & Co. | 0.00% | Add +0.0% | 8,296 | $550K |
| Sterling Capital Management LLC | 0.01% | New | 8,121 | $538K |
| Guardian Partners Inc. | 0.05% | Add +16.2% | 7,892 | $532K |
| Intech Investment Management LLC | 0.01% | Reduce -1.8% | 8,001 | $530K |
| New England Research & Management, Inc. | 0.25% | Reduce -1.2% | 7,949 | $527K |
| Sequoia Financial Advisors, LLC | 0.00% | Add +37.3% | 7,797 | $517K |
| Roundview Capital LLC | 0.03% | Reduce -1.1% | 7,754 | $514K |
| Legacy Wealth Asset Management, LLC | 0.13% | Add +1.8% | 7,676 | $509K |
| MML Investors Services, LLC | 0.00% | Reduce -0.9% | 7,594 | $503K |
| Pathstone Holdings, LLC | 0.00% | Reduce -48.0% | 7,471 | $496K |
| US Bancorp \de | 0.00% | Reduce -7.6% | 7,434 | $493K |
| Yousif Capital Management, LLC | 0.01% | Add +113.1% | 7,197 | $477K |
| Probity Advisors, Inc. | 0.08% | Add +0.0% | 7,147 | $474K |
| UniSuper Management Pty Ltd | 0.00% | Reduce -11.9% | 5,200 | $470K |
| Lebenthal Global Advisors, LLC | 0.09% | Reduce -2.3% | 6,986 | $463K |
| Raleigh Capital Management Inc. | 0.19% | Add +2.2% | 6,937 | $460K |
| Benjamin Edwards Inc. | 0.01% | Add +11.8% | 6,647 | $441K |
| Geneos Wealth Management Inc. | 0.01% | Add +5759.3% | 6,621 | $439K |
| Strategic Investment Advisors / MI | 0.04% | Reduce -19.0% | 6,628 | $434K |
| Exencial Wealth Advisors, LLC | 0.01% | Reduce -10.1% | 6,352 | $421K |
| Knollwood Investment Advisory, LLC | 0.04% | No change | 6,278 | $416K |
| Signaturefd, LLC | 0.01% | Reduce -21.6% | 6,137 | $407K |
| Principal Securities, Inc. | 0.01% | Reduce -33.8% | 6,054 | $401K |
| Janney Montgomery Scott LLC | 0.00% | Add +1.0% | 5,949 | $394K |
| Cumberland Partners Ltd | 0.03% | Add +46.1% | 5,700 | $377K |
| TD Private Client Wealth LLC | 0.01% | Add +1.7% | 5,675 | $376K |
| Beverly Hills Private Wealth, LLC | 0.07% | Reduce -6.0% | 5,572 | $369K |
| Shelton Capital Management | 0.01% | No change | 5,559 | $369K |
| Cigna Investments Inc. | 0.06% | Reduce -0.1% | 5,506 | $364K |
| Atria Investments, Inc | 0.00% | Add +12.1% | 5,250 | $348K |
| Wilmington Savings Fund Society, FSB | 0.01% | No change | 5,235 | $347K |
| Argonautica Private Wealth Management, Inc. | 0.11% | Reduce -0.8% | 5,048 | $335K |
| Richard W. Paul & Associates, LLC | 0.12% | Reduce -0.7% | 5,038 | $334K |
| Sowell Financial Services LLC | 0.01% | Add +62.4% | 5,022 | $333K |
| Envestnet Portfolio Solutions, Inc. | 0.00% | Reduce -6.5% | 5,001 | $331K |
| Ritholtz Wealth Management | 0.01% | Add +3.6% | 4,983 | $330K |
| MAI Capital Management | 0.00% | Add +4.1% | 4,595 | $305K |
| Tacita Capital Inc | 0.19% | Reduce -42.9% | 4,561 | $302K |
| Laird Norton Wetherby Wealth Management, LLC | 0.01% | — | 4,549 | $302K |
| Chase Investment Counsel Corp. | 0.10% | Reduce -2.7% | 4,503 | $298K |
| Burney Co./ | 0.01% | Reduce -35.3% | 4,491 | $298K |
| Waldron Private Wealth LLC | 0.01% | No change | 4,150 | $278K |
| Private Advisor Group, LLC | 0.00% | Add +7.1% | 4,120 | $273K |
| FSM Wealth Advisors, LLC | 0.04% | Add +1.4% | 3,981 | $270K |
| Syon Capital LLC | 0.02% | Reduce -4.6% | 4,052 | $269K |
| Hardy Reed LLC | 0.02% | New | 4,032 | $267K |
| WINTON GROUP Ltd | 0.01% | New | 4,000 | $265K |
| Vise Technologies, Inc. | 0.01% | — | 3,999 | $265K |
| Tower Research Capital LLC (TRC) | 0.01% | Reduce -86.6% | 3,923 | $260K |
| HighTower Advisors, LLC | 0.00% | Add +19.1% | 3,920 | $260K |
| Cardinal Point Capital Management ULC | 0.02% | New | 3,902 | $258K |
| HRT Financial LP | 0.00% | Reduce -98.7% | 3,857 | $255K |
| Avantax Advisory Services, Inc. | 0.00% | Add +24.6% | 3,808 | $252K |
| Erste Asset Management GmbH | 0.00% | Add +0.0% | 3,800 | $248K |
| First Trust Advisors LP | 0.00% | Reduce -2.4% | 3,569 | $237K |
| Phillips Wealth Planners LLC | 0.21% | Add +0.9% | 3,442 | $235K |
| Sanctuary Advisors, LLC | 0.00% | New | 3,539 | $235K |
| Robertson Stephens Wealth Management, LLC | 0.01% | No change | 3,490 | $234K |
| AQR Capital Management | 0.00% | Reduce -1.0% | 3,516 | $233K |
| Dimension Capital Management LLC | 0.04% | No change | 3,501 | $232K |
| Synovus Financial Corp. | 0.00% | No change | 3,478 | $231K |
| DAVENPORT & Co LLC | 0.00% | Reduce -3.2% | 3,478 | $231K |
| Assenagon Asset Management S.A. | 0.00% | New | 3,444 | $228K |
| Oppenheimer Asset Management Inc. | 0.00% | Reduce -0.5% | 3,390 | $225K |
| Hantz Financial Services, Inc. | 0.00% | Reduce -0.7% | 3,365 | $223K |
| Jones Financial Companies LLLP | 0.00% | Add +41.5% | 3,148 | $206K |
| Concurrent Investment Advisors, LLC | 0.00% | Reduce -19.2% | 3,092 | $205K |
| Coldstream Capital Management Inc. | 0.00% | Add +109.3% | 3,039 | $201K |
| Strategic Wealth Partners, Ltd. | 0.02% | — | 3,032 | $201K |
| Advisors Asset Management, Inc. | 0.00% | Reduce -39.4% | 3,001 | $199K |
| Parallax Volatility Advisers, L.P. | 0.01% | New | 2,847 | $189K |
| GeoWealth Management, LLC | 0.01% | Reduce -14.6% | 2,637 | $175K |
| Versant Capital Management, Inc | 0.02% | Reduce -6.4% | 2,252 | $149K |
| Caldwell Sutter Capital, Inc. | 0.06% | No change | 2,111 | $140K |
| GAMMA Investing LLC | 0.01% | Add +45.2% | 1,988 | $132K |
| Steward Partners Investment Advisory, LLC | 0.00% | Reduce -2.1% | 1,868 | $124K |
| NewEdge Advisors, LLC | 0.00% | Add +0.1% | 1,846 | $122K |
| Park Square Financial Group, LLC | 0.09% | Reduce -3.4% | 1,832 | $121K |
| Parallel Advisors, LLC | 0.00% | Reduce -30.2% | 1,656 | $110K |
| Andra AP-fonden | 0.00% | New | 1,200 | $108K |
| Cwm, LLC | 0.00% | Reduce -13.2% | 1,568 | $104K |
| Bank Julius Baer & Co. Ltd, Zurich | 0.00% | Reduce -26.8% | 1,118 | $101K |
| Allworth Financial LP | 0.00% | Reduce -0.4% | 1,521 | $101K |
| Bay Harbor Wealth Management, LLC | 0.03% | Add +4.4% | 1,334 | $89K |
| Stonehage Fleming Financial Services Holdings Ltd | 0.00% | No change | 1,300 | $86K |
| Natixis | 0.00% | Reduce -38.3% | 1,300 | $86K |
| Farther Finance Advisors, LLC | 0.00% | Add +23.7% | 1,227 | $81K |
| Caitong International Asset Management Co., Ltd | 0.05% | Add +29.6% | 1,115 | $74K |
| Crewe Advisors LLC | 0.01% | No change | 1,070 | $71K |
| Grove Bank & Trust | 0.01% | Reduce -0.4% | 1,059 | $70K |
| S.A. Mason LLC | 0.03% | No change | 1,000 | $66K |
| Rosenberg Matthew Hamilton | 0.02% | No change | 1,000 | $66K |
| Pension & Wealth Management Advisors, Inc. | 0.02% | Add +0.8% | 922 | $61K |
| Bogart Wealth, LLC | 0.00% | No change | 772 | $51K |
| Capital Analysts, LLC | 0.00% | Reduce -19.5% | 766 | $51K |
| Cromwell Holdings LLC | 0.03% | Reduce -36.1% | 741 | $50K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Reduce -8.8% | 732 | $49K |
| Pflug Koory, LLC | 0.02% | No change | 716 | $47K |
| New Vernon Capital Holdings II LLC | 0.02% | New | 707 | $47K |
| Huntington National Bank | 0.00% | Reduce -33.4% | 688 | $46K |
| IFP Advisors, Inc | 0.00% | Add +1.3% | 647 | $43K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 635 | $42K |
| HM Payson & Co. | 0.00% | Add +60.1% | 618 | $41K |
| UMB Bank, n.a. | 0.00% | Add +49.3% | 606 | $40K |
| Hazlett, Burt & Watson, Inc. | 0.02% | No change | 555 | $37K |
| Elevation Point Wealth Partners, LLC | 0.00% | New | 546 | $36K |
| Blue Trust, Inc. | 0.00% | No change | 543 | $36K |
| Parkside Financial Bank & Trust | 0.00% | Add +6.6% | 533 | $35K |
| SBI Securities Co., Ltd. | 0.00% | Reduce -2.6% | 533 | $35K |
| Cary Street Partners Investment Advisory LLC | 0.02% | New | 523 | $35K |
| Private Trust Co. NA | 0.00% | No change | 519 | $34K |
| CX Institutional | 0.00% | Add +928.0% | 514 | $34K |
| Legend Financial Advisors, Inc. | 0.02% | New | 500 | $33K |
| City State Bank | 0.01% | No change | 490 | $32K |
| Valley National Advisers Inc. | 0.01% | No change | 495 | $32K |
| Brown Brothers Harriman & Co. | 0.00% | New | 425 | $28K |
| Smartleaf Asset Management LLC | 0.00% | Reduce -21.5% | 428 | $28K |
| Towarzystwo Funduszy Inwestycyjnych Pzu SA | 0.01% | No change | 380 | $25K |
| Global Retirement Partners, LLC | 0.00% | — | 377 | $25K |
| AdvisorNet Financial, Inc | 0.00% | Reduce -42.9% | 330 | $22K |
| Hartford Financial Management Inc. | 0.01% | Reduce -31.0% | 314 | $21K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 261 | $17K |
| Annis Gardner Whiting Capital Advisors, LLC | 0.01% | New | 248 | $16K |
| Pacifica Partners Inc. | 0.01% | No change | 245 | $16K |
| EverSource Wealth Advisors, LLC | 0.00% | Reduce -39.3% | 230 | $15K |
| GPS Wealth Strategies Group, LLC | 0.00% | No change | 209 | $14K |
| Harbour Investments, Inc. | 0.00% | No change | 197 | $13K |
| Fifth Third Bancorp | 0.00% | Add +44.9% | 184 | $12K |
| Ogorek Anthony Joseph /NY/ | 0.00% | No change | 185 | $12K |
| Sound Income Strategies, LLC | 0.00% | No change | 177 | $12K |
| Mechanics Financial Corp | 0.00% | No change | 174 | $12K |
| Hillsdale Investment Management Inc. | 0.00% | No change | 170 | $11K |
| Aspect Partners, LLC | 0.01% | New | 154 | $10K |
| Quest 10 Wealth Builders, Inc. | 0.01% | No change | 132 | $9K |
| Wealth Preservation Advisors, LLC | 0.01% | Add +7.4% | 131 | $9K |
| Indiana Trust & Investment Management Co | 0.00% | No change | 127 | $8K |
| PMV Capital Advisers, LLC | 0.02% | New | 125 | $8K |
| Golden State Wealth Management, LLC | 0.00% | No change | 123 | $8K |
| Riggs Asset Managment Co. Inc. | 0.00% | New | 118 | $8K |
| Financial Management Professionals, Inc. | 0.00% | No change | 108 | $7K |
| Harbor Investment Advisory, LLC | 0.00% | No change | 108 | $7K |
| Spire Wealth Management | 0.00% | No change | 105 | $7K |
| Creative Financial Designs Inc. | 0.00% | No change | 104 | $7K |
| Salem Investment Counselors Inc. | 0.00% | No change | 100 | $7K |
| Cedar Mountain Advisors, LLC | 0.00% | No change | 96 | $6K |
| NBT Bank, N.A. | 0.00% | No change | 76 | $5K |
| First Community Trust NA | 0.00% | No change | 75 | $5K |
| JFS Wealth Advisors, LLC | 0.00% | No change | 73 | $5K |
| Twin Peaks Wealth Advisors, LLC | 0.00% | New | 74 | $5K |
| Avalon Trust Co | 0.00% | No change | 72 | $5K |
| Ridgewood Investments LLC | 0.00% | No change | 70 | $5K |
| Trust Co. of Toledo NA | 0.00% | New | 69 | $5K |
| CoreCap Advisors, LLC | 0.00% | Reduce -55.3% | 63 | $4K |
| Tsfg, LLC | 0.00% | No change | 60 | $4K |
| Whipplewood Advisors, LLC | 0.00% | Reduce -36.7% | 57 | $4K |
| Nalls Sherbakoff Group, LLC | 0.00% | No change | 54 | $4K |
| Bell Investment Advisors, Inc | 0.00% | No change | 53 | $4K |
| Gold Investment Management Ltd. | 0.00% | No change | 49 | $3K |
| First Horizon Advisors, Inc. | 0.00% | Reduce -97.8% | 42 | $3K |
| Hughes Financial Services, LLC | 0.00% | No change | 37 | $3K |
| Sierra Ocean, LLC | 0.00% | No change | 36 | $2K |
| Cornerstone Planning Group LLC | 0.00% | Add +288.9% | 35 | $2K |
| NewSquare Capital LLC | 0.00% | Add +13.8% | 33 | $2K |
| Asset Dedication, LLC | 0.00% | No change | 30 | $2K |
| Optiver Holding B.V. | 0.00% | New | 29 | $2K |
| Cape Investment Advisory, Inc. | 0.00% | New | 28 | $2K |
| Ameritas Advisory Services, LLC | 0.00% | New | 28 | $2K |
| Rossby Financial, LCC | 0.00% | No change | 24 | $2K |
| Arax Advisory Partners | 0.00% | Add +1800.0% | 19 | $1K |
| Millstone Evans Group, LLC | 0.00% | No change | 18 | $1K |
| Private Wealth Management Group, LLC | 0.00% | New | 17 | $1K |
| True Wealth Design, LLC | 0.00% | Add +23.1% | 16 | $1K |
| Bessemer Group Inc. | 0.00% | Reduce -98.3% | 15 | $1K |
| Penserra Capital Management LLC | 0.00% | No change | 27 | $1K |
| Nova Wealth Management, Inc. | 0.00% | No change | 15 | $994 |
| Raffa Wealth Management, LLC | 0.00% | No change | 11 | $729 |
| Rothschild Investment LLC | 0.00% | New | 10 | $663 |
| St Germain D J Co. Inc. | 0.00% | Reduce -81.1% | 10 | $663 |
| Physician Wealth Advisors, Inc. | 0.00% | No change | 8 | $551 |
| IAG Wealth Partners, LLC | 0.00% | No change | 6 | $398 |
| Manchester Capital Management LLC | 0.00% | New | 5 | $332 |
| Zions Bancorporation, National Association | 0.00% | No change | 4 | $265 |
| Smallwood Wealth Investment Management, LLC | 0.00% | No change | 2 | $132 |
| Safe Harbor Fiduciary, LLC | 0.00% | No change | 1 | $66 |
| Main Street Group, LTD | 0.00% | No change | 1 | $66 |
| Rakuten Securities, Inc. | 0.00% | No change | 1 | $66 |
"% of holder's portfolio" is QSR's weight in each manager's 13F, not the share of Restaurant Brands Intern the manager owns.