Restaurant Brands InternQSR
13F holders, Q4 2025 (December 31)At the end of Q4 2025, 506 institutions reported holding Restaurant Brands Intern (QSR) in their 13F filings, up 42 from Q3 2025. 67 opened new positions and 42 sold out. The largest holders were Capital World Investors ($3.0B), Pershing Square ($1.6B) and Royal Bank of Canada ($1.3B). 9 famous investors held it, including Seth Klarman (10.4% of Baupost Group's portfolio), Bill Ackman (10.0% of Pershing Square's portfolio) and Stanley Druckenmiller (2.0% 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 Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 67 | $188.0M |
| Exits | 42 | $212.6M |
All 13F filers, Q3 2025 → Q4 2025: 24,195,406 shares bought and 22,835,583 shares sold, net +1,359,823 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 506 holders
| Capital World Investors | 0.41% | Add +7.7% | 43,525,570 | $3.0B |
| Pershing Square | 10.05% | Reduce -0.2% | 22,866,773 | $1.6B |
| Royal Bank of Canada | 0.22% | Reduce -19.6% | 18,544,727 | $1.3B |
| EdgePoint Investment Group Inc. | 9.33% | Add +11.7% | 16,645,003 | $1.1B |
| Vanguard Group Inc. | 0.02% | Add +2.2% | 15,983,585 | $1.1B |
| Bank of Montreal | 0.43% | Add +25.5% | 15,219,947 | $1.0B |
| Morgan Stanley | 0.03% | Add +24.2% | 8,429,121 | $575.1M |
| Baupost Group | 10.44% | Reduce -2.1% | 8,080,112 | $551.3M |
| FMR LLC | 0.03% | Reduce -9.4% | 7,941,984 | $541.9M |
| BlackRock, Inc. | 0.01% | Add +3.1% | 7,522,380 | $513.3M |
| Fiera Capital Corp | 1.48% | Add +38.2% | 6,835,522 | $466.6M |
| Beutel, Goodman & Co Ltd. | 2.33% | Add +6.0% | 5,548,020 | $379.1M |
| TD Asset Management Inc | 0.30% | Add +0.7% | 5,544,780 | $378.9M |
| Geode Capital Management, LLC | 0.02% | Add +6.0% | 5,216,985 | $365.3M |
| FIL Ltd | 0.23% | Reduce -0.9% | 4,430,035 | $302.3M |
| Platinum Paramount Investment LTD. | 34.83% | — | 4,118,904 | $281.0M |
| Davis Selected Advisers | 1.23% | Add +13.5% | 4,020,791 | $274.3M |
| Norges Bank | 0.03% | — | 3,820,684 | $260.7M |
| 1832 Asset Management L.P. | 0.33% | Add +22.7% | 3,817,946 | $260.5M |
| National Bank of Canada | 0.27% | Add +5.9% | 3,832,184 | $259.4M |
| Cibc World Market Inc. | 0.45% | Add +31.5% | 3,689,706 | $251.7M |
| Invesco Ltd. | 0.02% | Reduce -4.6% | 3,469,979 | $236.8M |
| Toronto Dominion Bank | 0.40% | Add +165.2% | 3,307,584 | $225.7M |
| Meritage Group LP | 6.79% | Reduce -2.4% | 3,200,731 | $218.4M |
| State Street Corp. | 0.01% | Add +1.1% | 3,155,112 | $217.2M |
| Canada Pension Plan Investment Board | 0.13% | Reduce -5.1% | 2,750,378 | $187.7M |
| Goldman Sachs Group Inc. | 0.02% | Reduce -75.3% | 2,523,391 | $172.2M |
| Canoe Financial LP | 2.31% | Reduce -1.3% | 2,489,553 | $169.9M |
| Corvex Management LP | 5.47% | No change | 2,408,743 | $164.3M |
| Capital Research Global Investors | 0.03% | Add +0.1% | 2,040,125 | $139.2M |
| Bank of America Corp. | 0.01% | Add +4.5% | 2,022,208 | $138.0M |
| Mackenzie Financial Corp. | 0.15% | Reduce -3.9% | 1,818,754 | $124.7M |
| Legal & General Group Plc | 0.03% | Add +5.1% | 1,693,511 | $115.7M |
| JPMorgan Chase & Co. | 0.01% | Reduce -3.4% | 1,470,773 | $100.4M |
| Scotia Capital Inc. | 0.40% | Reduce -2.9% | 1,457,477 | $99.1M |
| UBS Group AG | 0.02% | Add +42.5% | 1,408,839 | $96.1M |
| CIBC Asset Management Inc | 0.22% | Reduce -38.9% | 1,317,198 | $90.4M |
| Dimensional Fund Advisors LP | 0.02% | Add +0.7% | 1,264,430 | $86.3M |
| Duquesne Family Office | 1.95% | Add +6.9% | 1,209,000 | $82.5M |
| Citadel Advisors | 0.06% | Reduce -37.3% | 1,188,246 | $81.1M |
| Manufacturers Life Insurance Company, The | 0.07% | Reduce -2.7% | 1,181,217 | $80.8M |
| Bank of New York Mellon Corp | 0.01% | Reduce -3.2% | 1,001,210 | $68.3M |
| Aviso Financial Inc. | 2.60% | Add +2.8% | 1,000,550 | $68.3M |
| TD Waterhouse Canada Inc. | 0.41% | Reduce -15.6% | 974,201 | $66.2M |
| Charles Schwab Investment Management Inc. | 0.01% | Add +3.1% | 959,998 | $65.6M |
| Northern Trust Corp. | 0.01% | Add +1.3% | 945,500 | $64.5M |
| Guardian Capital LP | 1.79% | Reduce -21.4% | 881,913 | $60.2M |
| Alberta Investment Management Corp | 0.39% | No change | 866,100 | $59.1M |
| River Road Asset Management, LLC | 0.65% | Reduce -40.8% | 863,570 | $58.9M |
| Epoch Investment Partners, Inc. | 0.33% | Reduce -3.6% | 846,963 | $57.8M |
| Swiss National Bank | 0.03% | Reduce -7.8% | 825,430 | $56.4M |
| Bank of Nova Scotia | 0.08% | Reduce -21.4% | 824,469 | $56.3M |
| Nuveen, LLC | 0.01% | Reduce -1.7% | 694,702 | $47.4M |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd | 3.72% | Reduce -3.5% | 467,154 | $43.8M |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.05% | New | 609,993 | $42.5M |
| Letko, Brosseau & Associates Inc. | 0.68% | Add +0.6% | 604,192 | $41.3M |
| GW&K Investment Management, LLC | 0.35% | Reduce -0.5% | 588,012 | $40.1M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.10% | Add +712.5% | 570,138 | $38.9M |
| Squarepoint Ops LLC | 0.08% | Add +49.5% | 569,717 | $38.9M |
| Continental Grain Co. | 11.36% | No change | 559,178 | $38.2M |
| Raymond James Financial Inc. | 0.01% | Reduce -16.4% | 526,648 | $35.9M |
| Intact Investment Management Inc. | 0.99% | Reduce -33.6% | 504,261 | $34.4M |
| Deutsche Bank AG | 0.01% | Reduce -29.8% | 499,889 | $34.1M |
| Mufg Securities (canada), LTD. | 0.95% | Reduce -8.0% | 499,134 | $34.1M |
| Millennium Management | 0.03% | Add +690.1% | 493,468 | $33.7M |
| Capital International Sarl | 0.52% | Add +32.9% | 471,677 | $32.2M |
| Envestnet Asset Management Inc. | 0.01% | Reduce -3.0% | 468,156 | $31.9M |
| Addenda Capital Inc. | 0.88% | Reduce -1.0% | 318,202 | $30.1M |
| Federation des caisses Desjardins du Quebec | 0.11% | Reduce -23.3% | 437,567 | $29.8M |
| Janus Henderson Group PLC | 0.01% | Add +1.4% | 430,868 | $29.4M |
| Woodline Partners LP | 0.11% | New | 406,487 | $27.7M |
| Cidel Asset Management Inc. | 1.87% | Reduce -43.8% | 386,561 | $26.4M |
| MIC Capital Management UK LLP | 5.97% | No change | 386,203 | $26.4M |
| Hillsdale Investment Management Inc. | 0.71% | Add +851.5% | 376,147 | $25.7M |
| Scheer, Rowlett & Associates Investment Management Ltd. | 1.75% | Reduce -13.1% | 373,562 | $25.5M |
| Man Group plc | 0.05% | Reduce -54.0% | 361,912 | $24.7M |
| Amundi | 0.01% | Add +7.2% | 354,158 | $24.2M |
| Wells Fargo & Company | 0.00% | Add +18.2% | 352,506 | $24.1M |
| Baskin Financial Services Inc. | 1.80% | Add +0.1% | 350,091 | $23.9M |
| Seven Grand Managers, LLC | 1.82% | New | 350,000 | $23.9M |
| Bank of Nova Scotia Trust Co. | 1.95% | Add +9.8% | 328,140 | $22.4M |
| Rockefeller Capital Management L.P. | 0.04% | Add +26.9% | 325,904 | $22.2M |
| Rhumbline Advisers | 0.02% | Reduce -1.6% | 304,025 | $20.7M |
| Cannell & Spears LLC | 0.38% | Reduce -0.7% | 298,769 | $20.4M |
| Capital International Ltd. | 0.69% | Add +23.8% | 288,203 | $19.7M |
| D. E. Shaw & Co. | 0.02% | Add +396.5% | 286,960 | $19.6M |
| Soroban Capital Partners LP | 0.14% | No change | 300,000 | $19.2M |
| Dana Investment Advisors, Inc. | 0.55% | Reduce -0.6% | 274,727 | $18.7M |
| Wealth Enhancement Advisory Services, LLC | 0.02% | Add +937.7% | 262,765 | $17.8M |
| Aviva PLC | 0.03% | Add +5.8% | 248,654 | $17.0M |
| Capital International, Inc. | 0.13% | Add +8.4% | 239,219 | $16.3M |
| Van Eck Associates Corp. | 0.01% | New | 223,566 | $15.3M |
| Hook Mill Capital Partners, LP | 1.43% | New | 222,958 | $15.2M |
| Ameriprise Financial Inc. | 0.00% | Add +716.5% | 203,312 | $14.0M |
| Korea Investment CORP | 0.03% | Reduce -8.5% | 197,115 | $13.5M |
| New York State Common Retirement Fund | 0.02% | No change | 196,100 | $13.4M |
| State Board of Administration of Florida Retirement System | 0.02% | Add +65.7% | 191,887 | $13.1M |
| Trexquant Investment LP | 0.12% | New | 189,069 | $12.9M |
| First Manhattan Co. Llc. | 0.03% | Add +1.0% | 182,326 | $12.6M |
| Engineers Gate Manager LP | 0.14% | Add +624.3% | 177,647 | $12.1M |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | 0.06% | Reduce -8.9% | 171,808 | $11.7M |
| State of Tennessee, Department of Treasury | 0.04% | Reduce -3.5% | 171,261 | $11.5M |
| T. Rowe Price Associates Inc. | 0.00% | Add +7.7% | 161,222 | $11.0M |
| American Century Companies Inc. | 0.01% | Add +28.7% | 160,913 | $11.0M |
| Cullen/Frost Bankers, Inc. | 0.12% | Add +12.4% | 159,816 | $10.9M |
| Tidal Investments LLC | 0.04% | Add +22.8% | 154,897 | $10.6M |
| LPL Financial LLC | 0.00% | Add +5.0% | 152,119 | $10.4M |
| Cadence Bank | 0.61% | Add +1.0% | 152,079 | $10.4M |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.02% | Add +8.1% | 148,717 | $10.2M |
| Barclays PLC | 0.00% | Reduce -7.2% | 146,392 | $10.0M |
| Alliancebernstein L.P. | 0.00% | Add +0.4% | 146,353 | $10.0M |
| Verition Fund Management LLC | 0.05% | Reduce -1.3% | 138,707 | $9.5M |
| Treasurer of the State of North Carolina | 0.03% | Reduce -6.8% | 135,566 | $9.3M |
| CANADA LIFE ASSURANCE Co | 0.02% | Reduce -37.5% | 135,610 | $9.2M |
| Citigroup Inc. | 0.01% | Reduce -21.1% | 133,787 | $9.1M |
| Russell Investments Group, Ltd. | 0.01% | Add +33.5% | 130,205 | $8.9M |
| Pictet Asset Management Holding SA | 0.01% | Add +4.1% | 125,016 | $8.5M |
| Jump Financial, LLC | 0.11% | Add +513.3% | 120,215 | $8.2M |
| Mn Services Vermogensbeheer B.V. | 0.05% | Add +1.5% | 118,082 | $8.1M |
| Public Employees Retirement System of Ohio | 0.03% | Reduce -2.8% | 117,801 | $8.0M |
| State of Wisconsin Investment Board | 0.02% | New | 109,043 | $7.5M |
| Purpose Unlimited Inc. | 0.34% | — | 107,443 | $7.3M |
| Northwestern Mutual Wealth Management Co. | 0.00% | Add +7.0% | 104,051 | $7.1M |
| Northwest & Ethical Investments L.P. | 0.16% | Reduce -0.2% | 100,972 | $6.9M |
| Commonwealth Equity Services, LLC | 0.01% | Add +69.3% | 93,836 | $6.4M |
| AIA Group Ltd | 0.09% | Reduce -19.3% | 89,710 | $6.1M |
| Franklin Resources Inc. | 0.00% | Add +6.3% | 88,747 | $6.1M |
| Teachers Retirement System of the State of Kentucky | 0.04% | No change | 86,700 | $5.9M |
| Voya Investment Management LLC | 0.01% | Add +162.7% | 84,170 | $5.7M |
| Qube Research & Technologies Ltd | 0.01% | Add +284.7% | 82,854 | $5.7M |
| Bridgewater Associates | 0.02% | Reduce -29.6% | 80,173 | $5.5M |
| Gotham Asset Management | 0.02% | Add +134.5% | 78,474 | $5.4M |
| Louisbourg Investments Inc. | 1.06% | Reduce -29.8% | 78,097 | $5.3M |
| Lansforsakringar Fondforvaltning AB (publ) | 0.03% | Add +1.4% | 75,061 | $5.1M |
| Quantinno Capital Management LP | 0.01% | Add +47.4% | 72,062 | $4.9M |
| Forsta Ap-Fonden | 0.03% | Reduce -4.3% | 71,600 | $4.9M |
| Quartz Partners, LLC | 1.80% | Add +14.0% | 70,810 | $4.8M |
| Federated Hermes, Inc. | 0.01% | Add +16.6% | 68,789 | $4.7M |
| Landscape Capital Management, L.L.C. | 0.30% | Add +9.7% | 66,603 | $4.5M |
| Occudo Quantitative Strategies LP | 0.30% | New | 65,144 | $4.4M |
| Capricorn Fund Managers Ltd | 1.07% | Reduce -8.2% | 65,089 | $4.4M |
| PensionDanmark Pensionsforsikringsaktieselskab | 0.04% | — | 62,882 | $4.3M |
| AQR Capital Management | 0.00% | Add +187.2% | 62,394 | $4.3M |
| Creative Planning | 0.00% | Add +5.5% | 60,644 | $4.1M |
| Earnest Partners LLC | 0.02% | Reduce -20.6% | 59,368 | $4.1M |
| Capital Group Investment Management Pte. LTD. | 0.65% | Add +25.6% | 58,966 | $4.0M |
| Allspring Global Investments Holdings, LLC | 0.01% | Add +1.7% | 59,306 | $4.0M |
| Asset Management One Co., Ltd. | 0.01% | Add +0.3% | 57,512 | $4.0M |
| Harvest Portfolios Group Inc. | 0.07% | Add +1.2% | 56,915 | $3.9M |
| Stifel Financial Corp. | 0.00% | Add +50.8% | 54,231 | $3.7M |
| Partners Capital Investment Group, LLP | 0.14% | Reduce -15.6% | 53,939 | $3.7M |
| Arkadios Wealth Advisors | 0.07% | Add +11.8% | 53,732 | $3.7M |
| Cetera Investment Advisers | 0.00% | Add +8.8% | 53,672 | $3.7M |
| Nichols & Pratt Advisers LLP | 0.23% | Add +24.2% | 53,634 | $3.7M |
| Boothbay Fund Management, LLC | 0.10% | New | 53,531 | $3.7M |
| Utah Retirement Systems | 0.03% | No change | 53,395 | $3.6M |
| Natixis Advisors, LLC | 0.01% | Add +14.4% | 52,868 | $3.6M |
| Sei Investments Co. | 0.00% | Add +0.5% | 52,564 | $3.6M |
| Cary Street Partners Financial LLC | 0.09% | Add +0.1% | 52,413 | $3.6M |
| DekaBank Deutsche Girozentrale | 0.01% | No change | 42,344 | $3.5M |
| Public Sector Pension Investment Board | 0.01% | Reduce -37.2% | 50,007 | $3.4M |
| Police & Firemen's Retirement System of New Jersey | 0.03% | Reduce -5.0% | 49,580 | $3.4M |
| Inkwell Capital LLC | 3.43% | Reduce -1.4% | 49,315 | $3.4M |
| Machina Capital S.A.S. | 0.63% | Add +156.7% | 48,590 | $3.3M |
| Alta Capital Management LLC/ | 0.22% | Reduce -69.4% | 47,423 | $3.2M |
| Freestone Grove Partners LP | 0.02% | Reduce -56.4% | 46,756 | $3.2M |
| Natixis | 0.01% | Add +3040.2% | 45,564 | $3.1M |
| Skandinaviska Enskilda Banken AB (publ) | 0.01% | Reduce -2.9% | 42,983 | $2.9M |
| Founders Capital Management, LLC | 0.43% | No change | 41,816 | $2.9M |
| Schonfeld Strategic Advisors LLC | 0.01% | New | 41,198 | $2.8M |
| Investment Management Corp of Ontario | 0.04% | Add +228.6% | 40,217 | $2.7M |
| Waverly Advisors, LLC | 0.02% | Add +12.1% | 39,954 | $2.7M |
| Range Rock Capital, LLC | 0.89% | — | 37,613 | $2.6M |
| Primecap Management Co. | 0.00% | No change | 37,600 | $2.6M |
| Dynamic Technology Lab Private Ltd | 0.58% | New | 37,367 | $2.5M |
| Iridian Asset Management LLC | 0.92% | Reduce -22.5% | 36,710 | $2.5M |
| Xponance LLC | 0.02% | Add +3.4% | 36,577 | $2.5M |
| &partners | 0.01% | Add +12.8% | 36,228 | $2.5M |
| Assetmark, Inc. | 0.00% | Add +11.9% | 35,224 | $2.4M |
| Oppenheimer & Co. Inc. | 0.03% | Add +2.0% | 35,205 | $2.4M |
| Wellington Management Group LLP | 0.00% | Add +45.5% | 34,276 | $2.3M |
| Truist Financial Corp. | 0.00% | Reduce -1.3% | 34,096 | $2.3M |
| Great Lakes Retirement, Inc. | 0.23% | New | 32,280 | $2.2M |
| Commerce Bank | 0.01% | Reduce -27.0% | 32,564 | $2.2M |
| Donoghue Forlines LLC | 0.68% | New | 32,389 | $2.2M |
| Entropy Technologies, LP | 0.12% | New | 31,872 | $2.2M |
| Skye Global Management LP | 0.04% | Reduce -74.8% | 31,815 | $2.2M |
| Orion Porfolio Solutions, LLC | 0.02% | Reduce -21.0% | 30,401 | $2.1M |
| Timelo Investment Management Inc. | 2.17% | New | 30,000 | $2.0M |
| Maven Securities LTD | 0.26% | New | 30,000 | $2.0M |
| Avanza Fonder AB | 0.05% | No change | 21,589 | $2.0M |
| Boston Partners | 0.00% | Add +40.6% | 29,564 | $2.0M |
| USS Investment Management Ltd | 0.01% | No change | 28,149 | $1.9M |
| Empowered Funds, LLC | 0.03% | Add +156.3% | 28,115 | $1.9M |
| Lebenthal Global Advisors, LLC | 0.29% | Add +118.5% | 27,831 | $1.9M |
| Corient Private Wealth LP | 0.00% | Add +93.6% | 26,792 | $1.8M |
| Gateway Investment Advisers LLC | 0.02% | Reduce -17.3% | 25,802 | $1.8M |
| M&T Bank Corp | 0.01% | Add +5.8% | 25,739 | $1.8M |
| Credit Agricole S A | 0.00% | Add +467.9% | 25,066 | $1.7M |
| Callahan Advisors, LLC | 0.14% | No change | 25,030 | $1.7M |
| Aspire Private Capital, LLC | 0.38% | Reduce -0.3% | 24,973 | $1.7M |
| Bennett Selby Investments LP | 0.55% | Reduce -2.5% | 24,842 | $1.7M |
| Burkett Asset Management Ltd | 1.71% | — | 24,772 | $1.7M |
| Partners Group Holding AG | 0.11% | New | 24,645 | $1.7M |
| Qsemble Capital Management, LP | 0.14% | New | 24,054 | $1.6M |
| Hilltop National Bank | 0.39% | New | 23,547 | $1.6M |
| Amalgamated Bank | 0.01% | Add +0.8% | 23,225 | $1.6M |
| Fiduciary Family Office, LLC | 0.45% | Add +4.3% | 22,848 | $1.6M |
| Osaic Holdings, Inc. | 0.00% | Add +27.2% | 22,274 | $1.5M |
| Neuberger Berman Group LLC | 0.00% | Reduce -6.0% | 22,210 | $1.5M |
| Arrowstreet Capital, Limited Partnership | 0.00% | New | 21,750 | $1.5M |
| Swiss Life Asset Management Ltd | 0.01% | Reduce -0.4% | 21,197 | $1.4M |
| Blueshift Asset Management, LLC | 0.41% | Reduce -33.5% | 20,985 | $1.4M |
| Janney Montgomery Scott LLC | 0.00% | Add +261.2% | 20,775 | $1.4M |
| Kentucky Retirement Systems | 0.04% | No change | 20,313 | $1.4M |
| California State Teachers Retirement System | 0.00% | Reduce -1.8% | 20,138 | $1.4M |
| Lee Financial Co | 0.18% | Reduce -10.8% | 19,720 | $1.3M |
| Y-Intercept (Hong Kong) Ltd | 0.03% | New | 19,701 | $1.3M |
| Fox Run Management, L.L.C. | 0.20% | Add +59.7% | 19,448 | $1.3M |
| Thrivent Financial for Lutherans | 0.00% | New | 19,019 | $1.3M |
| Hudson Portfolio Management LLC | 1.11% | No change | 18,942 | $1.3M |
| Fiduciary Trust Co | 0.01% | Reduce -1.0% | 18,843 | $1.3M |
| Capula Management Ltd | 0.01% | Reduce -80.7% | 18,794 | $1.3M |
| Savoir Faire Capital Management, L.P. | 0.58% | Reduce -48.6% | 18,063 | $1.2M |
| First Trust Advisors LP | 0.00% | Add +5.5% | 17,974 | $1.2M |
| Jane Street Group, LLC | 0.00% | Add +67.0% | 17,881 | $1.2M |
| Hutner Capital Management Inc. | 0.51% | Add +12.7% | 17,788 | $1.2M |
| BNP Paribas Financial Markets | 0.00% | Reduce -13.6% | 17,598 | $1.2M |
| OpenArc Corporate Advisory, LLC | 0.02% | — | 17,521 | $1.2M |
| Picton Mahoney Asset Management | 0.01% | Add +53.1% | 17,498 | $1.2M |
| Mariner, LLC | 0.00% | Reduce -1.1% | 17,336 | $1.2M |
| Bank Ozk | 0.42% | New | 17,274 | $1.2M |
| Royal London Asset Management Ltd. | 0.00% | Add +4.6% | 16,930 | $1.2M |
| PNC Financial Services Group, Inc. | 0.00% | Add +6.4% | 16,724 | $1.1M |
| Braun Stacey Associates Inc. | 0.04% | Add +0.0% | 16,274 | $1.1M |
| Maryland State Retirement & Pension System | 0.02% | No change | 15,725 | $1.1M |
| MetLife Investment Management, LLC | 0.01% | Add +0.5% | 15,240 | $1.0M |
| Captrust Financial Advisors | 0.00% | Add +1.9% | 15,136 | $1.0M |
| Cerity Partners LLC | 0.00% | Reduce -24.1% | 15,093 | $1.0M |
| Royal Fund Management, LLC | 0.09% | Reduce -24.6% | 15,030 | $1.0M |
| Nilsine Partners, LLC | 0.09% | Add +5.1% | 14,887 | $1.0M |
| PCM Encore, LLC | 0.21% | — | 14,604 | $996K |
| Gulf International Bank (UK) Ltd | 0.03% | No change | 14,292 | $975K |
| Lombard Odier Asset Management (Switzerland) SA | 0.04% | New | 13,841 | $945K |
| Dorato Capital Management | 0.70% | — | 13,356 | $933K |
| ASR Vermogensbeheer N.V. | 0.01% | No change | 13,583 | $928K |
| Waterfront Wealth Inc. | 0.17% | Reduce -0.0% | 13,467 | $917K |
| Crossmark Global Holdings, Inc. | 0.01% | Reduce -27.1% | 13,417 | $915K |
| Mercer Global Advisors Inc. | 0.00% | Add +29.6% | 13,292 | $907K |
| Aspiriant, LLC | 0.03% | Add +0.1% | 13,091 | $893K |
| Kendall Capital Management | 0.18% | Add +3.1% | 12,545 | $856K |
| Generali Asset Management SPA SGR | 0.02% | Add +10.6% | 8,965 | $840K |
| Vanguard Personalized Indexing Management, LLC | 0.01% | Add +29.2% | 12,094 | $825K |
| CIBC Private Wealth Group LLC | 0.00% | Reduce -18.2% | 12,023 | $820K |
| AE Wealth Management LLC | 0.00% | Add +5.5% | 11,626 | $793K |
| O'shaughnessy Asset Management, LLC | 0.00% | Add +9.2% | 11,511 | $785K |
| North Dakota State Investment Board | 0.03% | — | 11,400 | $778K |
| Aigen Investment Management, LP | 0.18% | New | 9,384 | $768K |
| Quadrant Capital Group LLC | 0.02% | Reduce -0.9% | 11,164 | $762K |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | New | 10,937 | $746K |
| HB Wealth Management, LLC | 0.00% | Add +28.0% | 10,795 | $737K |
| Wolverine Asset Management LLC | 0.04% | Reduce -0.4% | 10,787 | $736K |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | New | 10,504 | $717K |
| Steward Partners Investment Advisory, LLC | 0.00% | Add +383.9% | 10,298 | $703K |
| Metis Global Partners, LLC | 0.02% | Reduce -24.0% | 10,255 | $700K |
| Lanark Financial, Inc. | 0.05% | Reduce -0.3% | 9,883 | $674K |
| Pitcairn Wealth Advisors LLC | 0.06% | — | 9,672 | $660K |
| Pathstone Holdings, LLC | 0.00% | Add +1.5% | 9,549 | $652K |
| Prudential Financial Inc. | 0.00% | Reduce -43.3% | 9,442 | $644K |
| Applied Finance Capital Management, LLC | 0.05% | Add +1.9% | 9,440 | $644K |
| Guardian Partners Inc. | 0.05% | Add +12.7% | 9,188 | $643K |
| STRS Ohio | 0.00% | Reduce -0.6% | 9,349 | $638K |
| BKM Wealth Management, LLC | 0.23% | Add +1.0% | 9,199 | $628K |
| Cullen Investment Group, LTD. | 0.08% | Add +1.4% | 9,016 | $622K |
| Ieq Capital, LLC | 0.00% | Add +56.7% | 9,009 | $615K |
| Argonautica Private Wealth Management, Inc. | 0.18% | Add +60.7% | 9,006 | $614K |
| MML Investors Services, LLC | 0.00% | Add +23.1% | 8,980 | $613K |
| US Bancorp \de | 0.00% | Add +8.8% | 8,952 | $611K |
| Sequoia Financial Advisors, LLC | 0.00% | Add +10.8% | 8,929 | $609K |
| XTX Topco Ltd | 0.02% | Add +139.8% | 8,819 | $602K |
| Laird Norton Wetherby Trust Company, LLC | 0.01% | New | 8,570 | $590K |
| Kestra Advisory Services, LLC | 0.00% | Reduce -11.3% | 8,560 | $584K |
| Kentucky Retirement Systems Insurance Trust Fund | 0.04% | No change | 8,514 | $581K |
| D.A. Davidson & Co. | 0.00% | Add +1.9% | 8,451 | $577K |
| Sumitomo Life Insurance Co. | 0.02% | Reduce -0.1% | 8,442 | $576K |
| Sumitomo Mitsui DS Asset Management Company, Ltd | 0.00% | Reduce -0.1% | 8,442 | $576K |
| Sterling Capital Management LLC | 0.01% | Add +11.2% | 8,416 | $574K |
| Signaturefd, LLC | 0.01% | Add +24.1% | 8,270 | $564K |
| Jain Global LLC | 0.01% | New | 8,246 | $563K |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Reduce -2.6% | 8,186 | $559K |
| Chesapeake Capital Corp. | 0.46% | New | 8,101 | $553K |
| Legacy Wealth Asset Management, LLC | 0.13% | Add +2.0% | 8,029 | $548K |
| Intech Investment Management LLC | 0.00% | No change | 7,891 | $539K |
| Roundview Capital LLC | 0.03% | Add +0.8% | 7,816 | $533K |
| Principal Financial Group Inc. | 0.00% | Reduce -27.8% | 7,639 | $521K |
| OneDigital Investment Advisors LLC | 0.01% | Reduce -48.7% | 7,526 | $514K |
| Yousif Capital Management, LLC | 0.01% | Add +0.4% | 7,335 | $501K |
| Leonteq Securities AG | 0.03% | Reduce -30.6% | 7,312 | $499K |
| Exencial Wealth Advisors, LLC | 0.02% | Add +4.1% | 7,268 | $496K |
| Prospera Financial Services Inc | 0.01% | Reduce -11.7% | 7,215 | $493K |
| UniSuper Management Pty Ltd | 0.00% | No change | 5,200 | $487K |
| Principal Securities, Inc. | 0.01% | Add +6.3% | 7,032 | $480K |
| Cwm, LLC | 0.00% | Add +168.2% | 6,873 | $469K |
| Probity Advisors, Inc. | 0.07% | Reduce -8.3% | 6,537 | $446K |
| Raleigh Capital Management Inc. | 0.16% | Reduce -6.0% | 6,418 | $438K |
| Atria Investments, Inc | 0.00% | Add +12.3% | 6,289 | $429K |
| Knollwood Investment Advisory, LLC | 0.04% | No change | 6,278 | $428K |
| Geneos Wealth Management Inc. | 0.01% | Reduce -4.6% | 6,200 | $423K |
| Strategic Investment Advisors / MI | 0.04% | Reduce -5.0% | 6,174 | $421K |
| NewEdge Advisors, LLC | 0.00% | Add +14.7% | 5,847 | $399K |
| Syon Capital LLC | 0.02% | Add +9.7% | 5,661 | $386K |
| Benjamin Edwards Inc. | 0.00% | Add +8.8% | 5,659 | $386K |
| Sowell Financial Services LLC | 0.01% | Add +0.4% | 5,617 | $383K |
| New England Research & Management, Inc. | 0.17% | No change | 5,549 | $379K |
| Cigna Investments Inc. | 0.05% | No change | 5,506 | $376K |
| Shelton Capital Management | 0.01% | Reduce -1.8% | 5,460 | $373K |
| Jones Financial Companies LLLP | 0.00% | Add +32.6% | 5,444 | $371K |
| TD Private Client Wealth LLC | 0.01% | Reduce -5.7% | 5,432 | $371K |
| Hardy Reed LLC | 0.03% | Add +0.5% | 5,397 | $368K |
| Farringdon Capital, Ltd. | 0.09% | Reduce -35.8% | 5,373 | $367K |
| Beverly Hills Private Wealth, LLC | 0.06% | Reduce -2.9% | 5,308 | $362K |
| SG Americas Securities, LLC | 0.00% | New | 5,284 | $361K |
| Ritholtz Wealth Management | 0.01% | Add +5.5% | 5,257 | $359K |
| Vise Technologies, Inc. | 0.01% | Add +46.3% | 5,257 | $359K |
| WINTON GROUP Ltd | 0.01% | New | 5,200 | $355K |
| Foundations Investment Advisors, LLC | 0.00% | New | 5,169 | $353K |
| Stone Wealth Partners | 0.31% | — | 5,068 | $349K |
| Tacita Capital Inc | 0.20% | Add +8.3% | 5,061 | $346K |
| Richard W. Paul & Associates, LLC | 0.11% | Reduce -4.3% | 5,043 | $344K |
| Envestnet Portfolio Solutions, Inc. | 0.00% | Add +1.9% | 4,905 | $335K |
| Allianz Asset Management GmbH | 0.00% | Reduce -72.7% | 4,452 | $333K |
| Savant Capital, LLC | 0.00% | New | 4,874 | $333K |
| AlphaGrep UK Ltd | 0.11% | — | 4,823 | $329K |
| Meadowbrook Wealth Management, LLC | 0.37% | Reduce -6.6% | 4,740 | $323K |
| Sanctuary Advisors, LLC | 0.00% | Add +11.7% | 4,519 | $308K |
| MAI Capital Management | 0.00% | Add +0.8% | 4,466 | $305K |
| FSM Wealth Advisors, LLC | 0.04% | Add +8.9% | 4,378 | $299K |
| Abc Arbitrage SA | 0.03% | New | 4,344 | $296K |
| Wilmington Savings Fund Society, FSB | 0.01% | Add +0.1% | 4,328 | $295K |
| Phillips Wealth Planners LLC | 0.23% | Add +2.0% | 4,274 | $291K |
| Waldron Private Wealth LLC | 0.01% | No change | 4,150 | $286K |
| Private Advisor Group, LLC | 0.00% | Reduce -0.7% | 4,184 | $285K |
| Burney Co./ | 0.01% | Reduce -2.5% | 3,860 | $263K |
| Summit Trail Advisors, LLC | 0.00% | Reduce -69.9% | 3,648 | $250K |
| Mgo One Seven LLC | 0.01% | Add +0.4% | 3,647 | $249K |
| Nisa Investment Advisors, LLC | 0.00% | Add +94.6% | 3,610 | $249K |
| Bayforest Capital Ltd | 0.19% | Add +89.0% | 3,641 | $248K |
| Cardinal Point Capital Management ULC | 0.02% | Reduce -7.8% | 3,597 | $246K |
| Merit Financial Group, LLC | 0.00% | New | 3,539 | $241K |
| Robertson Stephens Wealth Management, LLC | 0.01% | No change | 3,490 | $240K |
| Caitong International Asset Management Co., Ltd | 0.06% | Add +238.1% | 3,520 | $240K |
| Dimension Capital Management LLC | 0.03% | No change | 3,501 | $239K |
| Pinnacle Financial Partners, Inc. | 0.00% | — | 3,478 | $237K |
| Consolidated Capital Management, LLC | 0.07% | Reduce -95.6% | 3,420 | $233K |
| Oppenheimer Asset Management Inc. | 0.00% | Reduce -1.3% | 3,403 | $232K |
| Focus Partners Wealth | 0.00% | New | 3,376 | $231K |
| NorthCrest Asset Manangement, LLC | 0.01% | New | 3,432 | $229K |
| Strategic Wealth Partners, Ltd. | 0.02% | Add +9.1% | 3,307 | $226K |
| Hantz Financial Services, Inc. | 0.00% | Reduce -0.9% | 3,275 | $223K |
| Cornerstone Select Advisors, LLC | 0.15% | New | 3,261 | $222K |
| Whetstone Capital Advisors, LLC | 0.07% | Reduce -11.0% | 3,245 | $221K |
| HighTower Advisors, LLC | 0.00% | Add +1.9% | 3,237 | $221K |
| DAVENPORT & Co LLC | 0.00% | New | 3,015 | $206K |
| Alerus Financial NA | 0.01% | Reduce -82.7% | 2,969 | $203K |
| Procyon Advisors, LLC | 0.01% | New | 2,961 | $202K |
| Caldwell Trust Co | 0.02% | New | 2,599 | $177K |
| Group One Trading LLC | 0.00% | New | 2,316 | $158K |
| GAMMA Investing LLC | 0.01% | Add +14.6% | 2,218 | $151K |
| Caldwell Sutter Capital, Inc. | 0.06% | Reduce -0.9% | 2,078 | $142K |
| Versant Capital Management, Inc | 0.02% | Add +81.3% | 1,916 | $131K |
| Allworth Financial LP | 0.00% | Add +31.1% | 1,912 | $130K |
| AdvisorShares Investments LLC | 0.02% | New | 1,900 | $130K |
| FNY Investment Advisers, LLC | 0.04% | New | 1,900 | $129K |
| Byrne Asset Management LLC | 0.07% | No change | 1,780 | $121K |
| Bank Julius Baer & Co. Ltd, Zurich | 0.00% | Add +9.0% | 1,670 | $114K |
| Parallel Advisors, LLC | 0.00% | Add +2.6% | 1,636 | $112K |
| Farther Finance Advisors, LLC | 0.00% | Add +17.1% | 1,606 | $110K |
| Covestor Ltd | 0.06% | Reduce -13.5% | 1,575 | $107K |
| Bay Harbor Wealth Management, LLC | 0.02% | Reduce -4.2% | 1,386 | $95K |
| Stonehage Fleming Financial Services Holdings Ltd | 0.00% | No change | 1,300 | $89K |
| Advisors Asset Management, Inc. | 0.00% | Reduce -3.4% | 1,300 | $89K |
| HSBC Holdings PLC | 0.00% | Reduce -98.9% | 1,211 | $83K |
| Basecamp Wealth Advisors LLC | 0.02% | — | 1,155 | $79K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Add +8.9% | 1,124 | $77K |
| Cromwell Holdings LLC | 0.04% | No change | 1,079 | $74K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +195.6% | 1,067 | $73K |
| Crewe Advisors LLC | 0.01% | No change | 1,013 | $69K |
| Rosenberg Matthew Hamilton | 0.01% | No change | 1,000 | $68K |
| DV Trading LLC | 0.01% | — | 1,000 | $68K |
| Pension & Wealth Management Advisors, Inc. | 0.02% | No change | 989 | $67K |
| New Vernon Capital Holdings II LLC | 0.03% | No change | 707 | $66K |
| Global Retirement Partners, LLC | 0.00% | Add +231.1% | 970 | $66K |
| Capital Analysts, LLC | 0.00% | Add +20.6% | 924 | $63K |
| Transamerica Financial Advisors, LLC | 0.01% | Add +4.7% | 889 | $61K |
| Westerkirk Capital Inc. | 0.01% | Reduce -93.5% | 890 | $61K |
| IFP Advisors, Inc | 0.00% | Add +12.6% | 860 | $59K |
| Huntington National Bank | 0.00% | Add +18.0% | 812 | $55K |
| Grove Bank & Trust | 0.01% | Reduce -4.8% | 805 | $55K |
| Parallax Volatility Advisers, L.P. | 0.00% | Reduce -67.3% | 780 | $53K |
| Pflug Koory, LLC | 0.02% | No change | 716 | $49K |
| Vision Retirement, LLC | 0.01% | — | 655 | $45K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 635 | $44K |
| UMB Bank, n.a. | 0.00% | Add +50.4% | 639 | $44K |
| HM Payson & Co. | 0.00% | No change | 618 | $42K |
| Parkside Financial Bank & Trust | 0.00% | Add +5.7% | 613 | $42K |
| Bogart Wealth, LLC | 0.00% | Reduce -23.4% | 613 | $42K |
| Blue Trust, Inc. | 0.00% | No change | 543 | $37K |
| Smartleaf Asset Management LLC | 0.00% | Reduce -0.2% | 535 | $37K |
| Cary Street Partners Investment Advisory LLC | 0.01% | Add +5.2% | 526 | $36K |
| SBI Securities Co., Ltd. | 0.00% | Add +4.4% | 525 | $36K |
| Wellington-Altus USA Inc. | 0.03% | — | 515 | $35K |
| City State Bank | 0.01% | No change | 490 | $33K |
| Hazlett, Burt & Watson, Inc. | 0.01% | No change | 480 | $33K |
| Valley National Advisers Inc. | 0.00% | No change | 495 | $33K |
| Steigerwald, Gordon & Koch Inc. | 0.00% | No change | 450 | $31K |
| Loring Wolcott & Coolidge Fiduciary Advisors LLP | 0.00% | New | 432 | $29K |
| Bessemer Group Inc. | 0.00% | Add +59.9% | 411 | $28K |
| Wealth Watch Advisors, INC | 0.01% | Add +26.4% | 397 | $27K |
| Brown Brothers Harriman & Co. | 0.00% | Add +18.0% | 386 | $26K |
| Towarzystwo Funduszy Inwestycyjnych Pzu SA | 0.01% | No change | 380 | $26K |
| Arax Advisory Partners | 0.00% | Reduce -6.4% | 378 | $26K |
| Lloyd Advisory Services, LLC. | 0.01% | New | 364 | $25K |
| Larson Financial Group LLC | 0.00% | Add +1922.2% | 364 | $25K |
| Pinnacle Bancorp, Inc. | 0.01% | No change | 357 | $24K |
| Measured Wealth Private Client Group, LLC | 0.01% | No change | 350 | $24K |
| Hartford Financial Management Inc. | 0.01% | No change | 347 | $24K |
| Pinnacle Wealth Planning Services, Inc. | 0.00% | New | 308 | $21K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 261 | $18K |
| Align Financial, LLC | 0.01% | — | 14,738 | $15K |
| Fifth Third Bancorp | 0.00% | Reduce -32.1% | 209 | $14K |
| Zions Bancorporation, National Association | 0.00% | New | 181 | $12K |
| Harbour Investments, Inc. | 0.00% | Reduce -17.1% | 179 | $12K |
| Sound Income Strategies, LLC | 0.00% | No change | 177 | $12K |
| Wealth Enhancement Trust Services, Inc. | 0.00% | — | 177 | $12K |
| Mechanics Financial Corp | 0.00% | No change | 174 | $12K |
| City Holding Co. | 0.00% | New | 163 | $11K |
| MidAtlantic Capital Management, Inc. | 0.01% | New | 155 | $11K |
| Wealth Preservation Advisors, LLC | 0.01% | Reduce -2.6% | 149 | $10K |
| Quarry LP | 0.00% | Reduce -97.7% | 147 | $10K |
| Quest 10 Wealth Builders, Inc. | 0.01% | Add +4.3% | 145 | $10K |
| Clearstead Trust, LLC | 0.00% | Add +236.8% | 128 | $9K |
| Indiana Trust & Investment Management Co | 0.00% | No change | 127 | $9K |
| Golden State Wealth Management, LLC | 0.00% | No change | 123 | $8K |
| Clearstead Advisors, LLC | 0.00% | Add +10.8% | 123 | $8K |
| POM Investment Strategies, LLC | 0.00% | New | 117 | $8K |
| Westside Investment Management, Inc. | 0.00% | No change | 116 | $8K |
| CoreCap Advisors, LLC | 0.00% | No change | 113 | $8K |
| McMillan Office, Inc. | 0.00% | — | 110 | $8K |
| Financial Management Professionals, Inc. | 0.00% | No change | 108 | $7K |
| Harbor Investment Advisory, LLC | 0.00% | No change | 108 | $7K |
| Creative Financial Designs Inc. | 0.00% | No change | 108 | $7K |
| Spire Wealth Management | 0.00% | Reduce -4.8% | 100 | $7K |
| Cedar Mountain Advisors, LLC | 0.00% | No change | 96 | $7K |
| GoalVest Advisory LLC | 0.00% | New | 95 | $6K |
| Kemnay Advisory Services Inc. | 0.00% | New | 95 | $6K |
| Meeder Asset Management Inc. | 0.00% | New | 94 | $6K |
| Rothschild Investment LLC | 0.00% | Add +314.3% | 87 | $6K |
| Navalign, LLC | 0.00% | New | 83 | $6K |
| First Command Advisory Services, Inc. | 0.00% | New | 83 | $6K |
| JFS Wealth Advisors, LLC | 0.00% | Add +5.5% | 77 | $5K |
| Quent Capital, LLC | 0.00% | Add +40.7% | 76 | $5K |
| NBT Bank, N.A. | 0.00% | Add +6.3% | 68 | $5K |
| First Community Trust NA | 0.00% | No change | 75 | $5K |
| Essential Partners LLC | 0.00% | Add +236.4% | 74 | $5K |
| Cornerstone Planning Group LLC | 0.00% | Add +630.0% | 73 | $5K |
| Entrust Financial LLC | 0.00% | — | 62 | $4K |
| Exchange Traded Concepts, LLC | 0.00% | Reduce -92.0% | 60 | $4K |
| Tsfg, LLC | 0.00% | No change | 61 | $4K |
| Bangor Savings Bank | 0.00% | New | 56 | $4K |
| Nalls Sherbakoff Group, LLC | 0.00% | No change | 54 | $4K |
| Bell Investment Advisors, Inc | 0.00% | No change | 53 | $4K |
| Walleye Capital LLC | 0.00% | Reduce -99.3% | 52 | $4K |
| Gold Investment Management Ltd. | 0.00% | No change | 49 | $3K |
| Ares Financial Consulting, LLC | 0.00% | — | 48 | $3K |
| Cape Investment Advisory, Inc. | 0.00% | Add +2.1% | 48 | $3K |
| True Wealth Design, LLC | 0.00% | Add +15.4% | 45 | $3K |
| CX Institutional | 0.00% | No change | 50 | $3K |
| Hughes Financial Services, LLC | 0.00% | Add +10.8% | 41 | $3K |
| Financial Consulate, Inc. | 0.00% | New | 32 | $2K |
| Rossby Financial, LCC | 0.00% | Add +12.5% | 27 | $2K |
| Cornerstone Financial Management LLC | 0.00% | — | 24 | $2K |
| Asset Dedication, LLC | 0.00% | No change | 23 | $2K |
| McGuire Capital Advisors Inc. | 0.00% | — | 18 | $1K |
| Millstone Evans Group, LLC | 0.00% | No change | 18 | $1K |
| Ancora Advisors LLC | 0.00% | New | 17 | $1K |
| MV Capital Management, Inc. | 0.00% | Add +50.0% | 15 | $1K |
| SageView Advisory Group, LLC | 0.00% | New | 15 | $1K |
| Nova Wealth Management, Inc. | 0.00% | No change | 15 | $1K |
| Motiv8 Investments LLC | 0.00% | New | 18 | $1K |
| Penserra Capital Management LLC | 0.00% | No change | 21 | $1K |
| United Financial Planning Group LLC | 0.00% | New | 14 | $955 |
| Sunbelt Securities, Inc. | 0.00% | Add +366.7% | 14 | $955 |
| Raffa Wealth Management, LLC | 0.00% | No change | 11 | $751 |
| Trust Co | 0.00% | New | 10 | $682 |
| St Germain D J Co. Inc. | 0.00% | No change | 10 | $682 |
| Physician Wealth Advisors, Inc. | 0.00% | No change | 8 | $575 |
| Turning Point Benefit Group, Inc. | 0.00% | No change | 6 | $409 |
| Activest Wealth Management | 0.00% | New | 6 | $409 |
| IAG Wealth Partners, LLC | 0.00% | No change | 6 | $409 |
| SouthState Bank Corp | 0.00% | No change | 5 | $342 |
| Manchester Capital Management LLC | 0.00% | No change | 3 | $205 |
| Horizon Investments, LLC | 0.00% | New | 3 | $205 |
| Safe Harbor Fiduciary, LLC | 0.00% | — | 1 | $68 |
| Rakuten Securities, Inc. | 0.00% | No change | 1 | $68 |
| Elyxium Wealth, LLC | 0.00% | New | 1 | $68 |
| Keating Financial Advisory Services, Inc. | 0.00% | — | 1 | $68 |
"% of holder's portfolio" is QSR's weight in each manager's 13F, not the share of Restaurant Brands Intern the manager owns.