Valinor Management’s Restaurant Brands International QSR Stock Holding History

Valinor 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
2017 Q4	–	Sell	-3,291,810	Closed	-$210M	–	41
2017 Q3	$210M	Sell	3,291,810 -61,706	-2%	-$3.81M	6.59%	2
2017 Q2	$210M	Sell	3,353,516 -398,650	-11%	-$23.5M	6.38%	2
2017 Q1	$209M	Buy	3,752,166 +270,071	+8%	+$14.1M	6.09%	2
2016 Q4	$166M	Buy	3,482,095 +195,763	+6%	+$9.03M	4.95%	6
2016 Q3	$147M	Hold	3,286,332	–	–	5.04%	5
2016 Q2	$137M	Buy	3,286,332 +182,900	+6%	+$7.56M	4.55%	7
2016 Q1	$121M	Buy	+3,103,432	New	+$108M	3.47%	14

Other funds holding QSR

PSCM

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

Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $999B AUM 46.22% 1-Year Est. Return

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

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

Berkshire Hathaway Omaha, Nebraska $299B AUM 27.55% 1-Year Est. Return

Franklin Resources San Mateo, California $462B AUM 39.16% 1-Year Est. Return

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

Bank of Montreal Toronto, Ontario, Canada $304B AUM 35.64% 1-Year Est. Return

SCM

Suvretta Capital Management New York $5.47B AUM 131.34% 1-Year Est. Return

Valinor Management's QSR Position: Q4 2017 in Review

Valinor Management sold out of Restaurant Brands International (QSR) in Q4 2017, closing a stake of 3,291,810 shares — an estimated $210M sold.

Valinor Management first reported a position in QSR in Q1 2016 and held it in 7 quarters. The position peaked at $210M in Q3 2017. 308 funds tracked by Wall St. Rank hold QSR as of Q4 2017.

Valinor Management reported no remaining Restaurant Brands International position as of Q4 2017 after selling out during the quarter.
Valinor Management sold 3,291,810 Restaurant Brands International shares in Q4 2017, an estimated $210M.
Valinor Management first reported a position in Restaurant Brands International in Q1 2016 and held it in 7 quarters.
Valinor Management's Restaurant Brands International position peaked at $210M in Q3 2017.
308 funds tracked by Wall St. Rank held Restaurant Brands International as of Q4 2017.

Based on Valinor Management's 13F filing for Q4 2017, filed 14 Feb 2018.