Who owns QSR
Which tracked institutional funds hold QSR, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See QSR company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
114 tracked funds added or opened QSR while 134 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
QSR’s largest tracked holder by dollar value, Capital World Investors, sizes it at 0.4% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in QSR divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 551 tracked filers holding QSR, 309 increased or opened the position and 241 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in QSR between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 25
- PERSHING SQUARE INC.$1.9B
- NOMURA HOLDINGS INC$245M
- Blue Sparrow, LLC /DE$173M
- Jupiter Topco LLC$31M
- Varma Mutual Pension Insurance Co$9M
- NewEdge Advisors, LLC$7M
Full exits 43
- Pershing Square Capital Management, L.P.$1.7B
- Beutel, Goodman & Co Ltd.$376M
- GW&K Investment Management, LLC$43M
- CAPITOLIS LIQUID GLOBAL MARKETS LLC$35M
- LINCLUDEN MANAGEMENT LTD$34M
- Duquesne Family Office LLC$34M
Largest adds
- BlackRock, Inc.$578M
- BANK OF MONTREAL /CAN/$151M
- ROYAL BANK OF CANADA$109M
- CANADA PENSION PLAN INVESTMENT BOARD$89M
- D. E. Shaw & Co., Inc.$76M
- UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC$72M
Largest trims
- MORGAN STANLEY$190M
- EdgePoint Investment Group Inc.$188M
- TD Asset Management Inc$114M
- BAUPOST GROUP LLC/MA$108M
- DAVIS SELECTED ADVISERS$63M
- CIBC WORLD MARKET INC.$57M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Capital World Investors added | 43,862,952 | $3.2B | 14.4% | 2026-Q2 |
| PERSHING SQUARE INC. new | 25,821,284 | $1.9B | 8.5% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 20,236,317 | $1.5B | 6.6% | 2026-Q2 |
| EdgePoint Investment Group Inc. trimmed | 17,171,552 | $1.2B | 5.6% | 2026-Q2 |
| BlackRock, Inc. added | 15,228,770 | $1.1B | 5.0% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ added | 11,295,632 | $818M | 3.7% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 10,489,509 | $761M | 3.4% | 2026-Q2 |
| FMR LLC added | 8,417,025 | $610M | 2.8% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 7,310,590 | $530M | 2.4% | 2026-Q2 |
| BAUPOST GROUP LLC/MA trimmed | 6,753,112 | $490M | 2.2% | 2026-Q2 |
| Fiera Capital Corp trimmed | 6,168,961 | $447M | 2.0% | 2026-Q2 |
| CIBC WORLD MARKET INC. trimmed | 6,106,449 | $443M | 2.0% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,854,909 | $436M | 2.0% | 2026-Q2 |
| MORGAN STANLEY trimmed | 4,844,426 | $351M | 1.6% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 4,769,956 | $346M | 1.6% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 4,224,874 | $306M | 1.4% | 2026-Q2 |
| TD Asset Management Inc trimmed | 4,160,083 | $302M | 1.4% | 2026-Q2 |
| PLATINUM PARAMOUNT INVESTMENT LTD. | 4,118,904 | $299M | 1.3% | 2026-Q2 |
| NORGES BANK trimmed | 3,821,569 | $277M | 1.3% | 2026-Q2 |
| NATIONAL BANK OF CANADA /FI/ added | 3,649,628 | $263M | 1.2% | 2026-Q2 |
| Invesco Ltd. trimmed | 3,404,367 | $247M | 1.1% | 2026-Q2 |
| NOMURA HOLDINGS INC new | 3,372,818 | $245M | 1.1% | 2026-Q2 |
| STATE STREET CORP trimmed | 3,368,699 | $247M | 1.1% | 2026-Q2 |
| Canoe Financial LP added | 3,354,908 | $243M | 1.1% | 2026-Q2 |
| 1832 Asset Management L.P. trimmed | 3,205,836 | $232M | 1.1% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 3,101,391 | $225M | 1.0% | 2026-Q2 |
| FIL Ltd trimmed | 2,994,122 | $217M | 1.0% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 2,927,875 | $212M | 1.0% | 2026-Q2 |
| DAVIS SELECTED ADVISERS trimmed | 2,800,345 | $203M | 0.9% | 2026-Q2 |
| Vanguard Global Advisers, LLC added | 2,629,509 | $191M | 0.9% | 2026-Q2 |
| Capital Research Global Investors added | 2,514,299 | $182M | 0.8% | 2026-Q2 |
| TD Waterhouse Canada Inc. added | 2,473,606 | $177M | 0.8% | 2026-Q2 |
| Blue Sparrow, LLC /DE new | 2,390,000 | $173M | 0.8% | 2026-Q2 |
| UBS Group AG added | 2,204,777 | $160M | 0.7% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 1,977,662 | $143M | 0.6% | 2026-Q2 |
| LONDON CO OF VIRGINIA trimmed | 1,960,645 | $142M | 0.6% | 2026-Q2 |
| TORONTO DOMINION BANK added | 1,904,305 | $138M | 0.6% | 2026-Q2 |
| Cullen Capital Management, LLC added | 1,770,095 | $128M | 0.6% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 1,714,650 | $126M | 0.6% | 2026-Q2 |
| Legal & General Group Plc trimmed | 1,595,151 | $116M | 0.5% | 2026-Q2 |
| MACKENZIE FINANCIAL CORP trimmed | 1,573,550 | $162M | 0.7% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 1,440,679 | $104M | 0.5% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 1,406,008 | $102M | 0.5% | 2026-Q2 |
| Corvex Management LP trimmed | 1,265,178 | $92M | 0.4% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 1,173,662 | $85M | 0.4% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 1,133,719 | $82M | 0.4% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,107,644 | $80M | 0.4% | 2026-Q2 |
| Bank of New York Mellon Corp added | 1,085,058 | $79M | 0.4% | 2026-Q2 |
| Swiss National Bank trimmed | 1,037,730 | $75M | 0.3% | 2026-Q2 |
| BANK OF NOVA SCOTIA trimmed | 1,018,288 | $74M | 0.3% | 2026-Q2 |
| SCOTIA CAPITAL INC. trimmed | 985,634 | $71M | 0.3% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 983,870 | $71M | 0.3% | 2026-Q2 |
| Aviso Financial Inc. trimmed | 980,833 | $71M | 0.3% | 2026-Q2 |
| NORTHERN TRUST CORP trimmed | 952,665 | $69M | 0.3% | 2026-Q2 |
| GUARDIAN CAPITAL LP trimmed | 942,679 | $68M | 0.3% | 2026-Q2 |
| Alberta Investment Management Corp trimmed | 869,121 | $63M | 0.3% | 2026-Q2 |
| CIBC Asset Management Inc trimmed | 843,087 | $62M | 0.3% | 2026-Q2 |
| Epoch Investment Partners, Inc. trimmed | 799,626 | $58M | 0.3% | 2026-Q2 |
| Nuveen, LLC added | 783,514 | $57M | 0.3% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 766,686 | $56M | 0.3% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 765,815 | $56M | 0.3% | 2026-Q2 |
| Caisse de depot et placement du Quebec | 739,937 | $54M | 0.2% | 2026-Q2 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed | 708,240 | $51M | 0.2% | 2026-Q2 |
| CAPITAL INTERNATIONAL SARL added | 666,592 | $48M | 0.2% | 2026-Q2 |
| LETKO, BROSSEAU & ASSOCIATES INC trimmed | 643,271 | $47M | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 637,863 | $46M | 0.2% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 632,013 | $46M | 0.2% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 576,200 | $42M | 0.2% | 2026-Q2 |
| CONTINENTAL GRAIN CO | 559,178 | $41M | 0.2% | 2026-Q2 |
| INTACT INVESTMENT MANAGEMENT INC. trimmed | 539,861 | $39M | 0.2% | 2026-Q2 |
| CIDEL ASSET MANAGEMENT INC trimmed | 526,104 | $38M | 0.2% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 516,521 | $37M | 0.2% | 2026-Q2 |
| MUFG SECURITIES (CANADA), LTD. trimmed | 491,312 | $36M | 0.2% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC trimmed | 485,772 | $35M | 0.2% | 2026-Q2 |
| VAN ECK ASSOCIATES CORP added | 439,207 | $32M | 0.1% | 2026-Q2 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp added | 425,604 | $31M | 0.1% | 2026-Q2 |
| Jupiter Topco LLC new | 425,259 | $31M | 0.1% | 2026-Q2 |
| Federation des caisses Desjardins du Quebec added | 424,021 | $31M | 0.1% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 395,400 | $29M | 0.1% | 2026-Q2 |
| BARCLAYS PLC added | 394,824 | $29M | 0.1% | 2026-Q2 |
| MIC Capital Management UK LLP | 386,203 | $28M | 0.1% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 385,088 | $28M | 0.1% | 2026-Q2 |
| CAPITAL INTERNATIONAL LTD /CA/ added | 371,644 | $27M | 0.1% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 365,666 | $27M | 0.1% | 2026-Q2 |
| Scheer, Rowlett & Associates Investment Management Ltd. trimmed | 355,630 | $26M | 0.1% | 2026-Q2 |
| Rockefeller Capital Management L.P. added | 351,783 | $26M | 0.1% | 2026-Q2 |
| AustralianSuper Pty Ltd trimmed | 329,373 | $24M | 0.1% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 318,337 | $23M | 0.1% | 2026-Q2 |
| Addenda Capital Inc. added | 312,203 | $32M | 0.1% | 2026-Q2 |
| Capital International, Inc./CA/ added | 307,813 | $22M | 0.1% | 2026-Q2 |
| BANK OF NOVA SCOTIA TRUST CO trimmed | 295,613 | $21M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 286,182 | $21M | 0.1% | 2026-Q2 |
| Cannell & Spears LLC trimmed | 284,931 | $21M | 0.1% | 2026-Q2 |
| PICTON MAHONEY ASSET MANAGEMENT added | 264,919 | $19M | 0.1% | 2026-Q2 |
| Gotham Asset Management, LLC added | 260,451 | $19M | 0.1% | 2026-Q2 |
| Dana Investment Advisors, Inc. trimmed | 259,280 | $19M | 0.1% | 2026-Q2 |
| AVIVA PLC added | 258,881 | $19M | 0.1% | 2026-Q2 |
| Hillsdale Investment Management Inc. trimmed | 254,553 | $18M | 0.1% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 229,453 | $17M | 0.1% | 2026-Q2 |
| Quantinno Capital Management LP added | 225,118 | $16M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.