Restaurant Brands International
QSR
462 hedge funds and large institutions have $18.6B invested in Restaurant Brands International in 2025 Q3 according to their latest regulatory filings, with 65 funds opening new positions, 181 increasing their positions, 148 reducing their positions, and 52 closing their positions.
25% more first-time investments, than exits
New positions opened: 65 | Existing positions closed: 52
22% more repeat investments, than reductions
Existing positions increased: 181 | Existing positions reduced: 148
15% more call options, than puts
Call options by funds: $106M | Put options by funds: $92.5M
2% more funds holding
Funds holding: 452 → 462 (+10)
1.53% more ownership
Funds ownership: 86.98% → 88.51% (+1.5%)
1% less capital invested
Capital invested by funds: $18.9B → $18.6B (-$270M)
20% less funds holding in top 10
Funds holding in top 10: 10 → 8 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BG
Baupost Group
Boston,
Massachusetts
|
+$277M |
| 2 |
Morgan Stanley
New York
|
+$176M |
| 3 |
EIG
EdgePoint Investment Group
Toronto,
Ontario, Canada
|
+$130M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$129M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$125M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
1832 Asset Management
Toronto,
Ontario, Canada
|
-$245M |
| 2 |
Capital World Investors
Los Angeles,
California
|
-$170M |
| 3 |
Fidelity International
Hamilton,
Bermuda
|
-$84.1M |
| 4 |
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
|
-$76M |
| 5 |
UBS AM
Chicago,
Illinois
|
-$74.5M |
QSR Hedge Fund Activity: Q3 2025 in Review
462 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Restaurant Brands International (QSR) for Q3 2025, worth a combined $18.6B — down 1.4% from $18.9B a quarter earlier.
Buyers outnumbered sellers: 65 funds opened new QSR positions and 52 closed out — a net gain of 13 holders — while 181 added to existing stakes and 148 trimmed.
The largest buyer was Baupost Group, adding an estimated $277M. The largest seller was 1832 Asset Management, cutting an estimated $245M.
- 462 institutional investors held Restaurant Brands International (QSR) as of Q3 2025, up from 452 in Q2 2025.
- Funds reported $18.6B of Restaurant Brands International stock for Q3 2025, down 1.4% quarter-over-quarter.
- 65 funds opened new Restaurant Brands International positions in Q3 2025 and 52 closed out, a net change of +13 holders.
- The largest Restaurant Brands International buyer in Q3 2025 was Baupost Group, an estimated $277M added.
- The largest Restaurant Brands International seller in Q3 2025 was 1832 Asset Management, an estimated $245M sold.
Based on aggregated 13F filings for Q3 2025.