Novare Capital Management’s Restaurant Brands International QSR Stock Holding History

Novare Capital Management’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
2025 Q3	–	Sell	-8,827	Closed	-$585K	–	204
2025 Q2	$585K	Sell	8,827 -60,776	-87%	-$4.06M	0.05%	137
2025 Q1	$4.64M	Sell	69,603 -7,974	-10%	-$514K	0.41%	65
2024 Q4	$5.06M	Sell	77,577 -15,805	-17%	-$1.1M	0.43%	67
2024 Q3	$6.73M	Sell	93,382 -108	-0.1%	-$7.59K	0.57%	64
2024 Q2	$6.58M	Buy	93,490 +2,618	+3%	+$187K	0.59%	62
2024 Q1	$7.22M	Buy	+90,872	New	+$7.08M	0.65%	62

Other funds holding QSR

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

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

PSCM

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

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

EIG

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

Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Baupost Group Boston, Massachusetts $5.12B AUM 15.99% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Novare Capital Management's QSR Position: Q3 2025 in Review

Novare Capital Management sold out of Restaurant Brands International (QSR) in Q3 2025, closing a stake of 8,827 shares — an estimated $585K sold.

Novare Capital Management first reported a position in QSR in Q1 2024 and held it in 6 quarters. The position peaked at $7.22M in Q1 2024. 463 funds tracked by Wall St. Rank hold QSR as of Q3 2025.

Novare Capital Management reported no remaining Restaurant Brands International position as of Q3 2025 after selling out during the quarter.
Novare Capital Management sold 8,827 Restaurant Brands International shares in Q3 2025, an estimated $585K.
Novare Capital Management first reported a position in Restaurant Brands International in Q1 2024 and held it in 6 quarters.
Novare Capital Management's Restaurant Brands International position peaked at $7.22M in Q1 2024.
463 funds tracked by Wall St. Rank held Restaurant Brands International as of Q3 2025.

Based on Novare Capital Management's 13F filing for Q3 2025, filed 3 Nov 2025.