Restaurant Brands International Inc.: which funds bought and sold

Institutions that bought and sold Restaurant Brands International shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 316 institutions that filed 13F reports for both quarters added to or opened positions in Restaurant Brands International, and 214 cut or closed them. Together they added a net 12.8M shares, +4.6% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 3.7M shares (−3.8%); index fund managers were net buyers of 7.6M shares (+22.9%). 77 opened a new position and 50 sold out entirely.

Bought, Q2 2026 316 institutions, 77 of them new holders Sold, Q2 2026 214 institutions, 50 of them sold out

Net change, all compared +12.8M shares (+4.6%)

Net change, active managers −3.7M shares (−3.8%), 25 bought, 26 sold

Buyers versus sellers

institutions compared, 616

316 bought 86 214 sold

Active managers and hedge funds 25 bought · 26 sold · −3.7M

Index fund managers 6 bought · 4 sold · +7.6M

Other institutions 285 bought · 184 sold · +8.9M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	+7.2M +90.6%	15.2M	$1.1B
Nomura Holdings Inc	+3.4M New position	3.4M	$245M
Blue Sparrow, LLC	+2.4M New position	2.4M	$173M
Bank Of Montreal	+2.3M +25.3%	11.3M	$818M
Royal Bank Of Canada	+1.9M +10.1%	20.2M	$1.5B
Canada Pension Plan Investment Board	+1.3M +43.7%	4.2M	$306M
D. E. Shaw & Co., Inc. Hedge fund	+1.0M +1240.1%	1.1M	$82.2M
Capital World Investors Active manager	+1.0M +2.3%	43.9M	$3.2B
UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC	+994K +554.9%	1.2M	$85.1M
Citadel Advisors LLC Hedge fund	+851K +41.0%	2.9M	$212M
Connor, Clark & Lunn Investment Management Ltd.	+824K +71.5%	2.0M	$143M
UBS Group AG	+704K +46.9%	2.2M	$160M
Cullen Capital Management, LLC	+664K +60.1%	1.8M	$128M
Jane Street Group, LLC	+614K +3487.7%	632K	$45.8M
Healthcare Of Ontario Pension Plan Trust Fund	+453K +366.2%	576K	$41.8M
Jones Financial Companies LLLP	+363K +1109.2%	395K	$29.4M
Natixis Advisors, LLC	+336K +481.0%	406K	$29.5M
Geode Capital Management, LLC Index funds	+306K +5.5%	5.9M	$436M
Manufacturers Life Insurance Company, The	+304K +27.5%	1.4M	$102M
Vanguard Global Advisers, LLC	+231K +9.6%	2.6M	$191M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
D. E. Shaw & Co., Inc. Hedge fund	+1.0M +1240.1%	1.1M	$82.2M
Capital World Investors Active manager	+1.0M +2.3%	43.9M	$3.2B
Citadel Advisors LLC Hedge fund	+851K +41.0%	2.9M	$212M
FMR LLC Active manager	+159K +1.9%	8.4M	$610M
Gotham Asset Management, LLC Hedge fund	+134K +106.7%	260K	$18.9M
Balyasny Asset Management L.P. Hedge fund	+89K New position	89K	$6.5M
Moore Capital Management, LP Hedge fund	+79K New position	79K	$5.7M
Millennium Management LLC Hedge fund	+73K +58.1%	198K	$14.4M
Franklin Resources Inc Active manager	+51K +37.8%	188K	$13.6M
American Century Companies Inc Active manager	+46K +25.1%	229K	$16.6M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Morgan Stanley	−2.5M −33.8%	4.8M	$351M
Edgepoint Investment Group Inc. Active manager	−2.2M −11.2%	17.2M	$1.2B
TD Asset Management Inc	−1.5M −26.2%	4.2M	$302M
Baupost Group LLC Hedge fund	−1.3M −16.4%	6.8M	$490M
Davis Selected Advisers Active manager	−799K −22.2%	2.8M	$203M
Beutel, Goodman & Co Ltd.	−674K −13.2%	4.4M	$321M
CIBC World Market Inc.	−654K −9.7%	6.1M	$443M
Public Sector Pension Investment Board	−621K −61.7%	385K	$27.9M
Federated Hermes, Inc. Active manager	−529K −87.5%	75K	$5.5M
Fiera Capital Corp	−523K −7.8%	6.2M	$447M
Fil Ltd Active manager	−511K −14.6%	3.0M	$217M
Capitolis Liquid Global Markets LLC	−474K Sold out	0	—
Duquesne Family Office LLC Hedge fund	−454K Sold out	0	—
CIBC Asset Management Inc	−441K −34.3%	843K	$61.6M
Omers Administration Corp	−391K −71.0%	159K	$11.6M
1832 Asset Management L.P.	−380K −10.6%	3.2M	$232M
Scotia Capital Inc.	−335K −25.4%	986K	$71.3M
Corvex Management LP Hedge fund	−313K −19.8%	1.3M	$91.7M
Man Group PLC Hedge fund	−307K Sold out	0	—
Point72 Asset Management, L.P. Hedge fund	−246K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Edgepoint Investment Group Inc. Active manager	−2.2M −11.2%	17.2M	$1.2B
Baupost Group LLC Hedge fund	−1.3M −16.4%	6.8M	$490M
Davis Selected Advisers Active manager	−799K −22.2%	2.8M	$203M
Federated Hermes, Inc. Active manager	−529K −87.5%	75K	$5.5M
Fil Ltd Active manager	−511K −14.6%	3.0M	$217M
Duquesne Family Office LLC Hedge fund	−454K Sold out	0	—
Corvex Management LP Hedge fund	−313K −19.8%	1.3M	$91.7M
Man Group PLC Hedge fund	−307K Sold out	0	—
Point72 Asset Management, L.P. Hedge fund	−246K Sold out	0	—
Woodline Partners LP Hedge fund	−177K −46.8%	202K	$14.6M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Nomura Holdings Inc	3.4M	$245M
Blue Sparrow, LLC	2.4M	$173M
Varma Mutual Pension Insurance Co	122K	$8.8M
Balyasny Asset Management L.P.Hedge fund	89K	$6.5M
Moore Capital Management, LPHedge fund	79K	$5.7M
Kiltearn Partners LLP	50K	$3.7M
Fideuram Asset Management (Ireland) Dac	23K	$2.3M
111 Capital	30K	$2.2M
Quinn Opportunity Partners LLC	30K	$2.2M
Gsa Capital Partners LLP	27K	$2M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Capitolis Liquid Global Markets LLC	474K	$35M
Duquesne Family Office LLCHedge fund	454K	$33.6M
Man Group PLCHedge fund	307K	$22.7M
Point72 Asset Management, L.P.Hedge fund	246K	$18.2M
Seven Grand Managers, LLC	175K	$12.9M
Soroban Capital Partners LPHedge fund	172K	$12.7M
Night Squared LP	146K	$10.8M
Hudson Bay Capital Management LPHedge fund	126K	$9.3M
Landscape Capital Management, L.L.C.	48K	$3.5M
Machina Capital S.A.S.	25K	$1.9M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 574
Ten largest holders: 51.7%
Index fund managers: 12.7%
Active managers and hedge funds: 37.6%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	25	26	5	5	−3.7M	−3.8%
Index fund managers	6	4	0	0	+7.6M	+22.9%
Other institutions	285	184	72	45	+8.9M	+6.1%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Restaurant Brands International.

Only managers that filed a holdings report for both quarters are compared (616 here). 15 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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