Eminence Capital’s Restaurant Brands International QSR Stock Holding History

Eminence Capital’s Portfolio QSR Stock Details QSR Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2020 Q4	–	Sell	-1,224,996	Closed	-$70.5M	–	89
2020 Q3	$70.5M	Sell	1,224,996 -816,796	-40%	-$45.6M	0.69%	48
2020 Q2	$112M	Sell	2,041,792 -1,246,277	-38%	-$62.8M	1.11%	31
2020 Q1	$132M	Buy	+3,288,069	New	+$186M	1.44%	22
2019 Q2	–	Sell	-2,950,734	Closed	-$192M	–	53
2019 Q1	$192M	Sell	2,950,734 -708,450	-19%	-$43.5M	2.86%	13
2018 Q4	$191M	Buy	3,659,184 +1,410,830	+63%	+$78.3M	3.72%	8
2018 Q3	$133M	Buy	2,248,354 +604,584	+37%	+$36.8M	2.19%	21
2018 Q2	$99.1M	Buy	+1,643,770	New	+$94.2M	1.35%	31

Other funds holding QSR

Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return

PSCM

Pershing Square Capital Management New York $13.7B AUM 13.45% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

EIG

EdgePoint Investment Group Toronto, Ontario, Canada $12.5B AUM 31.7% 1-Year Est. Return

JFL

Jarislowsky, Fraser Ltd Montreal, Quebec, Canada $18.2B AUM 22.04% 1-Year Est. Return

Meritage Group San Francisco, California $2.65B AUM 6.3% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Principal Financial Group Des Moines, Iowa $187B AUM 18.48% 1-Year Est. Return

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return

Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada $62.4B AUM 23.7% 1-Year Est. Return

Eminence Capital's QSR Position: Q4 2020 in Review

Eminence Capital sold out of Restaurant Brands International (QSR) in Q4 2020, closing a stake of 1,224,996 shares — an estimated $70.5M sold.

Eminence Capital first reported a position in QSR in Q2 2018 and held it in 7 quarters. The position peaked at $192M in Q1 2019. 369 funds tracked by Wall St. Rank hold QSR as of Q4 2020.

Eminence Capital reported no remaining Restaurant Brands International position as of Q4 2020 after selling out during the quarter.
Eminence Capital sold 1,224,996 Restaurant Brands International shares in Q4 2020, an estimated $70.5M.
Eminence Capital first reported a position in Restaurant Brands International in Q2 2018 and held it in 7 quarters.
Eminence Capital's Restaurant Brands International position peaked at $192M in Q1 2019.
369 funds tracked by Wall St. Rank held Restaurant Brands International as of Q4 2020.

Based on Eminence Capital's 13F filing for Q4 2020, filed 16 Feb 2021.