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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2021 Q3	–	Sell	-15,500	Closed	-$999K	–	234
2021 Q2	$999K	Buy	15,500 +8,400	+118%	+$541K	0.08%	145
2021 Q1	$461K	Sell	7,100 -5,300	-43%	-$344K	0.04%	188
2020 Q4	$758K	Sell	12,400 -4,800	-28%	-$293K	0.05%	155
2020 Q3	$989K	Hold	17,200	–	–	0.09%	138
2020 Q2	$940K	Buy	17,200 +6,500	+61%	+$355K	0.08%	137
2020 Q1	$428K	Sell	10,700 -11,000	-51%	-$440K	0.04%	171
2019 Q4	$1.38M	Sell	21,700 -3,800	-15%	-$242K	0.1%	129
2019 Q3	$1.81M	Sell	25,500 -400	-2%	-$28.5K	0.13%	100
2019 Q2	$1.8M	Sell	25,900 -600	-2%	-$41.7K	0.13%	99
2019 Q1	$1.73M	Buy	26,500 +1,000	+4%	+$65.1K	0.13%	106
2018 Q4	$1.33M	Sell	25,500 -2,200	-8%	-$115K	0.12%	117
2018 Q3	$1.64M	Buy	27,700 +3,200	+13%	+$190K	0.12%	114
2018 Q2	$1.48M	Sell	24,500 -3,200	-12%	-$193K	0.12%	125
2018 Q1	$1.58M	Sell	27,700 -5,100	-16%	-$290K	0.13%	117
2017 Q4	$2.02M	Sell	32,800 -2,900	-8%	-$178K	0.18%	89
2017 Q3	$2.28M	Sell	35,700 -6,400	-15%	-$409K	0.2%	76
2017 Q2	$2.63M	Sell	42,100 -10,420	-20%	-$652K	0.23%	68
2017 Q1	$2.93M	Sell	52,520 -12,000	-19%	-$669K	0.29%	65
2016 Q4	$3.08M	Sell	64,520 -4,900	-7%	-$234K	0.36%	67
2016 Q3	$3.1M	Sell	69,420 -3,000	-4%	-$134K	0.4%	73
2016 Q2	$3.01M	Sell	72,420 -4,400	-6%	-$183K	0.44%	75
2016 Q1	$2.98M	Sell	76,820 -2,600	-3%	-$101K	0.47%	85
2015 Q4	$2.97M	Buy	79,420 +9,520	+14%	+$356K	0.49%	82
2015 Q3	$2.51M	Hold	69,900	–	–	0.42%	95
2015 Q2	$2.67M	Buy	+69,900	New	+$2.67M	0.42%	101