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Restaurant Brands International
QSR

330 hedge funds and large institutions have $9.43B invested in Restaurant Brands International in 2020 Q1 according to their latest regulatory filings, with 44 funds opening new positions, 143 increasing their positions, 94 reducing their positions, and 100 closing their positions.

New
Increased
Maintained
Reduced
Closed

52% more repeat investments, than reductions

Existing positions increased: 143 | Existing positions reduced: 94

24% more call options, than puts

Call options by funds: $71.6M | Put options by funds: $57.8M

1.29% more ownership

Funds ownership: 77.58% → 78.87% (+1.3%)

16% less funds holding

Funds holding: 392 → 330 (-62)

36% less capital invested

Capital invested by funds: $14.8B → $9.43B (-$5.37B)

40% less funds holding in top 10

Funds holding in top 10: 15 → 9 (-6)

56% less first-time investments, than exits

New positions opened: 44 | Existing positions closed: 100

Holders
330
Holders Change
-62
Holders Change %
-15.82%
% of All Funds
7.27%
Holding in Top 10
9
Holding in Top 10 Change
-6
Holding in Top 10 Change %
-40%
% of All Funds
0.2%
New
44
Increased
143
Reduced
94
Closed
100
Calls
$71.6M
Puts
$57.8M
Net Calls
+$13.9M
Net Calls Change
+$21.7M

Top Buyers

Rank Fund Capital Flow
1
SCP
Soroban Capital Partners
New York
+$295M
2
MC
Maverick Capital
Texas
+$236M
3
EC
Eminence Capital
New York
+$186M
4
MG
Meritage Group
California
+$127M
5
JFL
Jarislowsky, Fraser Ltd
Quebec, Canada
+$118M

Top Sellers

Rank Fund Capital Flow
1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$757M
2
SCM
Steadfast Capital Management
New York
-$211M
3
Two Sigma Investments
Two Sigma Investments
New York
-$99.4M
4
SC
Samlyn Capital
New York
-$92.9M
5
Morgan Stanley
Morgan Stanley
New York
-$79.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
MCPPUI
76
MIC Capital Partners (Public) (US) IM
United Arab Emirates
$18.1M +$2.92M +51,584 +13%
Public Sector Pension Investment Board (PSP Investments)
77
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$18M -$12.3M -218,100 -33%
Geode Capital Management
78
Geode Capital Management
Massachusetts
$17.9M +$4.31M +76,192 +21%
Holocene Advisors
79
Holocene Advisors
New York
$17.7M +$25.1M +443,269 New
CCM
80
Clearfield Capital Management
New York
$16M +$22.6M +400,000 New
TAM
81
Taurus Asset Management
New York
$14M – – –
Millennium Management
82
Millennium Management
New York
$13.8M -$37.4M -660,217 -66%
MCM
83
Moore Capital Management
New York
$13.1M +$9.03M +159,630 +95%
Citigroup
84
Citigroup
New York
$12.5M -$40.3M -712,303 -69%
Northern Trust
85
Northern Trust
Illinois
$11.7M +$198K +3,499 +1%
GCC
86
Guardian Capital (Canada)
Ontario, Canada
$11M -$16.9M -298,263 -52%
State of Tennessee, Department of Treasury
87
State of Tennessee, Department of Treasury
Tennessee
$9.16M +$1.91M +33,714 +17%
AAMU
88
Amundi Asset Management US
Massachusetts
$9.03M +$3.8M +67,226 +42%
BONST
89
Bank of Nova Scotia Trust
Ontario, Canada
$8.36M +$1.07M +18,943 +10%
BCIM
90
British Columbia Investment Management
British Columbia, Canada
$7.81M -$12.9M -228,490 -54%
YCMGA
91
York Capital Management Global Advisors
New York
$7.57M +$10.7M +189,101 New
APG Asset Management
92
APG Asset Management
Netherlands
$7.48M +$10.2M +180,870 +2,899%
BCM
93
Bienville Capital Management
New York
$7.31M +$10.3M +182,705 New
CIP
94
Chartwell Investment Partners
Pennsylvania
$7.25M +$296K +5,225 +3%
CS
95
Cannell & Spears
New York
$7.19M +$10.2M +179,574 New
PPA
96
Parametric Portfolio Associates
Washington
$7.18M -$418K -7,385 -4%
AIMCA
97
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$7.09M -$6.92M -122,200 -41%
IMPI
98
Ilmarinen Mutual Pension Insurance
Finland
$7M +$2.83M +50,000 +40%
MGIM
99
M&G Investment Management
United Kingdom
$6.59M +$6.62K +117 +0.1%
JCM
100
Junto Capital Management
New York
$6.37M +$5.91M +104,486 +191%
2 3
4
5 6

QSR Hedge Fund Activity: Q1 2020 in Review

330 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Restaurant Brands International (QSR) for Q1 2020, worth a combined $9.43B — down 36% from $14.8B a quarter earlier.

Sellers outnumbered buyers: 100 funds closed out of QSR and 44 opened new positions — a net loss of 56 holders — while 94 trimmed existing stakes and 143 added.

The largest buyer was Soroban Capital Partners, opening a new position worth an estimated $295M. The largest seller was T. Rowe Price Associates, cutting an estimated $757M.

  • 330 institutional investors held Restaurant Brands International (QSR) as of Q1 2020, down from 392 in Q4 2019.
  • Funds reported $9.43B of Restaurant Brands International stock for Q1 2020, down 36% quarter-over-quarter.
  • 44 funds opened new Restaurant Brands International positions in Q1 2020 and 100 closed out, a net change of -56 holders.
  • The largest Restaurant Brands International buyer in Q1 2020 was Soroban Capital Partners, an estimated $295M added.
  • The largest Restaurant Brands International seller in Q1 2020 was T. Rowe Price Associates, an estimated $757M sold.

Based on aggregated 13F filings for Q1 2020.