Two Creeks Capital Management’s Restaurant Brands International QSR Stock Holding History

Two Creeks 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
2020 Q4	–	Sell	-1,195,357	Closed	-$68.7M	–	18
2020 Q3	$68.7M	Sell	1,195,357 -147,217	-11%	-$8.21M	4.49%	13
2020 Q2	$73.3M	Sell	1,342,574 -4,600	-0.3%	-$232K	5.11%	11
2020 Q1	$53.9M	Sell	1,347,174 -123,800	-8%	-$7.01M	4.38%	11
2019 Q4	$93.8M	Hold	1,470,974	–	–	6.06%	7
2019 Q3	$105M	Sell	1,470,974 -218,127	-13%	-$16.1M	6.84%	6
2019 Q2	$117M	Sell	1,689,101 -241,160	-12%	-$16.1M	7.15%	7
2019 Q1	$126M	Hold	1,930,261	–	–	8.48%	3
2018 Q4	$101M	Hold	1,930,261	–	–	6.83%	5
2018 Q3	$114M	Sell	1,930,261 -289,272	-13%	-$17.6M	6.37%	4
2018 Q2	$134M	Hold	2,219,533	–	–	6.94%	3
2018 Q1	$126M	Buy	2,219,533 +77,543	+4%	+$4.6M	6.86%	3
2017 Q4	$132M	Buy	2,141,990 +320,686	+18%	+$20.6M	7.04%	3
2017 Q3	$116M	Buy	1,821,304 +175,000	+11%	+$10.8M	6.61%	6
2017 Q2	$103M	Buy	+1,646,304	New	+$97M	6.27%	7

Other funds holding QSR

Capital World Investors Los Angeles, California $846B AUM 46.74% 1-Year Est. Return

PSCM

Pershing Square Capital Management New York $19.5B AUM 2.08% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $672B AUM 33.48% 1-Year Est. Return

EIG

EdgePoint Investment Group Toronto, Ontario, Canada $13.2B AUM 32.43% 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 $2.6B AUM 15.71% 1-Year Est. Return

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

Principal Financial Group Des Moines, Iowa $204B AUM 27.99% 1-Year Est. Return

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $128B AUM 35.83% 1-Year Est. Return

Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada $70.2B AUM 30.95% 1-Year Est. Return

Two Creeks Capital Management's QSR Position: Q4 2020 in Review

Two Creeks Capital Management sold out of Restaurant Brands International (QSR) in Q4 2020, closing a stake of 1,195,357 shares — an estimated $68.7M sold.

Two Creeks Capital Management first reported a position in QSR in Q2 2017 and held it in 14 quarters. The position peaked at $134M in Q2 2018. 369 funds tracked by Wall St. Rank hold QSR as of Q4 2020.

Two Creeks Capital Management reported no remaining Restaurant Brands International position as of Q4 2020 after selling out during the quarter.
Two Creeks Capital Management sold 1,195,357 Restaurant Brands International shares in Q4 2020, an estimated $68.7M.
Two Creeks Capital Management first reported a position in Restaurant Brands International in Q2 2017 and held it in 14 quarters.
Two Creeks Capital Management's Restaurant Brands International position peaked at $134M in Q2 2018.
369 funds tracked by Wall St. Rank held Restaurant Brands International as of Q4 2020.

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