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Restaurant Brands International
QSR

448 hedge funds and large institutions have $17.2B invested in Restaurant Brands International in 2024 Q4 according to their latest regulatory filings, with 47 funds opening new positions, 156 increasing their positions, 160 reducing their positions, and 55 closing their positions.

New
Increased
Maintained
Reduced
Closed

203% more call options, than puts

Call options by funds: $306M | Put options by funds: $101M

3% less repeat investments, than reductions

Existing positions increased: 156 | Existing positions reduced: 160

3% less funds holding

Funds holding: 462 → 448 (-14)

4.75% less ownership

Funds ownership: 86.24% → 81.48% (-4.8%)

13% less capital invested

Capital invested by funds: $19.7B → $17.2B (-$2.52B)

15% less first-time investments, than exits

New positions opened: 47 | Existing positions closed: 55

25% less funds holding in top 10

Funds holding in top 10: 12 → 9 (-3)

Holders
448
Holders Change
-14
Holders Change %
-3.03%
% of All Funds
5.9%
Holding in Top 10
9
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-25%
% of All Funds
0.12%
New
47
Increased
156
Reduced
160
Closed
55
Calls
$306M
Puts
$101M
Net Calls
+$205M
Net Calls Change
-$17.2M

Top Buyers

1
MG
Meritage Group
California
+$225M
2
BG
Baupost Group
Massachusetts
+$199M
3
EIG
EdgePoint Investment Group
Ontario, Canada
+$187M
4
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$94.9M
5
BCIM
British Columbia Investment Management
British Columbia, Canada
+$68.4M

Top Sellers

1
Capital Research Global Investors
Capital Research Global Investors
California
-$620M
2
N
Nuveen
North Carolina
-$180M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$110M
4
Connor, Clark & Lunn Investment Management (CC&L)
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
-$108M
5
JP Morgan Chase
JP Morgan Chase
New York
-$105M
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
26
Morgan Stanley
New York
$128M +$26.6M +383,973 +24%
Geode Capital Management
27
Geode Capital Management
Massachusetts
$123M +$32.5M +467,958 +34%
DCP
28
D1 Capital Partners
New York
$115M +$30.4M +438,379 +33%
Fidelity International
29
Fidelity International
Bermuda
$114M -$76.4M -1,100,835 -39%
DCM
30
Dorsal Capital Management
California
$111M -$13.9M -200,000 -11%
SC
31
Scotia Capital
Ontario, Canada
$100M +$1.69M +24,319 +2%
Legal & General Group
32
Legal & General Group
United Kingdom
$97.6M -$1.04K -15 -0%
Bank of New York Mellon
33
Bank of New York Mellon
New York
$86.8M +$4.75M +68,456 +5%
GCC
34
Guardian Capital (Canada)
Ontario, Canada
$85.2M +$2.38M +34,336 +3%
FDCDDQ
35
Federation des caisses Desjardins du Quebec
Quebec, Canada
$80.9M +$21.5M +310,498 +33%
Bank of Nova Scotia
36
Bank of Nova Scotia
Ontario, Canada
$79.4M -$35.4M -510,326 -30%
BAM
37
Burgundy Asset Management
Ontario, Canada
$76M +$310K +4,464 +0.4%
Arrowstreet Capital
38
Arrowstreet Capital
Massachusetts
$74.8M +$49.7M +715,754 +165%
TWC
39
TD Waterhouse Canada
Ontario, Canada
$74.7M +$73.5K +1,060 +0.1%
Bank of America
40
Bank of America
North Carolina
$71.8M -$13.4M -193,387 -15%
BCIM
41
British Columbia Investment Management
British Columbia, Canada
$70.8M +$68.4M +985,615 +967%
Citadel Advisors
42
Citadel Advisors
Florida
$67.8M -$60.1M -865,884 -45%
EIP
43
Epoch Investment Partners
New York
$65.8M -$4.86M -70,023 -6%
Dimensional Fund Advisors
44
Dimensional Fund Advisors
Texas
$63.5M +$13.6M +195,340 +25%
AF
45
Aviso Financial
Ontario, Canada
$61.4M +$2.58M +37,241 +4%
Toronto Dominion Bank
46
Toronto Dominion Bank
Ontario, Canada
$60.8M +$8.12M +117,001 +14%
AIMCA
47
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$59.6M +$416K +6,000 +0.7%
Swiss National Bank
48
Swiss National Bank
Switzerland
$58.2M -$1.14M -16,400 -2%
RC
49
RDST Capital
Washington
$51.7M +$6.94M +100,014 +14%
Charles Schwab
50
Charles Schwab
California
$48.7M +$2.79M +40,155 +6%
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QSR Hedge Fund Activity: Q4 2024 in Review

448 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in Restaurant Brands International (QSR) for Q4 2024, worth a combined $17.2B — down 13% from $19.7B a quarter earlier.

Sellers outnumbered buyers: 55 funds closed out of QSR and 47 opened new positions — a net loss of 8 holders — while 160 trimmed existing stakes and 156 added.

The largest buyer was Meritage Group, adding an estimated $225M. The largest seller was Capital Research Global Investors, cutting an estimated $620M.

  • 448 institutional investors held Restaurant Brands International (QSR) as of Q4 2024, down from 462 in Q3 2024.
  • Funds reported $17.2B of Restaurant Brands International stock for Q4 2024, down 13% quarter-over-quarter.
  • 47 funds opened new Restaurant Brands International positions in Q4 2024 and 55 closed out, a net change of -8 holders.
  • The largest Restaurant Brands International buyer in Q4 2024 was Meritage Group, an estimated $225M added.
  • The largest Restaurant Brands International seller in Q4 2024 was Capital Research Global Investors, an estimated $620M sold.

Based on aggregated 13F filings for Q4 2024.