Who owns QSR (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-Q1 13F filings. 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
The tracked-fund tape on QSR is one-sided between 2025-Q4 and 2026-Q1: 202 added or opened and 68 trimmed or exited — on balance accumulating.
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 0.2% of theirs — a 0.2pp 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 2025-Q4 and 2026-Q1, across 546 tracked filers holding QSR, 333 increased or opened the position and 194 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
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 2025-Q4 and 2026-Q1 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 38
- VANGUARD CAPITAL MANAGEMENT LLC$763M
- VANGUARD FIDUCIARY TRUST CO$227M
- Vanguard Global Advisers, LLC$177M
- LONDON CO OF VIRGINIA$148M
- Cullen Capital Management, LLC$82M
- Caisse de depot et placement du Quebec$55M
Full exits 26
- VANGUARD GROUP INC$1.1B
- Meritage Group LP$218M
- Hook Mill Capital Partners, LP$15M
- Trexquant Investment LP$13M
- Cadence Bank$10M
- Jump Financial, LLC$8M
Largest adds
- GOLDMAN SACHS GROUP INC$354M
- EdgePoint Investment Group Inc.$296M
- CIBC WORLD MARKET INC.$248M
- BANK OF AMERICA CORP /DE/$227M
- Capital World Investors$198M
- Pershing Square Capital Management, L.P.$113M
Largest trims
- BANK OF MONTREAL /CAN/$372M
- TORONTO DOMINION BANK$95M
- River Road Asset Management, LLC$50M
- Duquesne Family Office LLC$49M
- Corvex Management LP$48M
- FIL Ltd$43M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Capital World Investors trimmed | 42,858,035 | $3.2B | 13.6% | 2026-Q1 |
| Pershing Square Capital Management, L.P. trimmed | 22,645,483 | $1.7B | 7.2% | 2026-Q1 |
| EdgePoint Investment Group Inc. added | 19,348,137 | $1.4B | 6.1% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 18,386,132 | $1.4B | 5.8% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 10,311,116 | $763M | 3.3% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ trimmed | 9,011,952 | $667M | 2.9% | 2026-Q1 |
| FMR LLC added | 8,245,841 | $610M | 2.6% | 2026-Q1 |
| BAUPOST GROUP LLC/MA | 8,080,112 | $597M | 2.6% | 2026-Q1 |
| MORGAN STANLEY trimmed | 7,321,602 | $541M | 2.3% | 2026-Q1 |
| BlackRock, Inc. trimmed | 7,118,389 | $526M | 2.3% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 7,113,439 | $526M | 2.3% | 2026-Q1 |
| CIBC WORLD MARKET INC. added | 6,760,192 | $500M | 2.1% | 2026-Q1 |
| Fiera Capital Corp trimmed | 6,692,221 | $494M | 2.1% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,549,070 | $420M | 1.8% | 2026-Q1 |
| TD Asset Management Inc added | 5,638,563 | $416M | 1.8% | 2026-Q1 |
| Beutel, Goodman & Co Ltd. trimmed | 5,098,410 | $376M | 1.6% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 4,932,662 | $365M | 1.6% | 2026-Q1 |
| PLATINUM PARAMOUNT INVESTMENT LTD. | 4,118,904 | $304M | 1.3% | 2026-Q1 |
| NORGES BANK added | 4,191,851 | $279M | 1.2% | 2026-Q1 |
| DAVIS SELECTED ADVISERS trimmed | 3,599,127 | $266M | 1.1% | 2026-Q1 |
| 1832 Asset Management L.P. trimmed | 3,585,870 | $265M | 1.1% | 2026-Q1 |
| STATE STREET CORP added | 3,514,684 | $262M | 1.1% | 2026-Q1 |
| NATIONAL BANK OF CANADA /FI/ trimmed | 3,553,001 | $260M | 1.1% | 2026-Q1 |
| FIL Ltd trimmed | 3,504,680 | $259M | 1.1% | 2026-Q1 |
| Invesco Ltd. trimmed | 3,424,506 | $253M | 1.1% | 2026-Q1 |
| Canoe Financial LP added | 3,348,043 | $248M | 1.1% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 3,068,611 | $227M | 1.0% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 2,940,378 | $218M | 0.9% | 2026-Q1 |
| Capital Research Global Investors added | 2,508,986 | $185M | 0.8% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 2,398,167 | $177M | 0.8% | 2026-Q1 |
| TD Waterhouse Canada Inc. added | 2,361,339 | $174M | 0.7% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 2,077,208 | $154M | 0.7% | 2026-Q1 |
| LONDON CO OF VIRGINIA new | 2,002,235 | $148M | 0.6% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 1,766,273 | $131M | 0.6% | 2026-Q1 |
| Legal & General Group Plc added | 1,725,304 | $127M | 0.5% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP trimmed | 1,670,001 | $124M | 0.5% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 1,659,396 | $122M | 0.5% | 2026-Q1 |
| Corvex Management LP trimmed | 1,578,254 | $117M | 0.5% | 2026-Q1 |
| UBS Group AG added | 1,500,473 | $111M | 0.5% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 1,372,903 | $101M | 0.4% | 2026-Q1 |
| SCOTIA CAPITAL INC. trimmed | 1,320,532 | $97M | 0.4% | 2026-Q1 |
| CIBC Asset Management Inc trimmed | 1,283,774 | $95M | 0.4% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. added | 1,153,250 | $85M | 0.4% | 2026-Q1 |
| Swiss National Bank added | 1,107,530 | $82M | 0.4% | 2026-Q1 |
| Cullen Capital Management, LLC new | 1,105,654 | $82M | 0.4% | 2026-Q1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 1,102,497 | $82M | 0.3% | 2026-Q1 |
| BANK OF NOVA SCOTIA added | 1,095,285 | $81M | 0.3% | 2026-Q1 |
| Bank of New York Mellon Corp added | 1,065,880 | $79M | 0.3% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,049,343 | $77M | 0.3% | 2026-Q1 |
| Public Sector Pension Investment Board added | 1,006,381 | $74M | 0.3% | 2026-Q1 |
| Aviso Financial Inc. trimmed | 990,535 | $73M | 0.3% | 2026-Q1 |
| GUARDIAN CAPITAL LP added | 979,526 | $72M | 0.3% | 2026-Q1 |
| NORTHERN TRUST CORP added | 967,981 | $72M | 0.3% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 907,372 | $67M | 0.3% | 2026-Q1 |
| Alberta Investment Management Corp added | 881,080 | $65M | 0.3% | 2026-Q1 |
| Epoch Investment Partners, Inc. trimmed | 833,338 | $62M | 0.3% | 2026-Q1 |
| Nuveen, LLC added | 765,447 | $57M | 0.2% | 2026-Q1 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. added | 752,789 | $56M | 0.2% | 2026-Q1 |
| Caisse de depot et placement du Quebec added | 739,937 | $55M | 0.2% | 2026-Q1 |
| CIDEL ASSET MANAGEMENT INC added | 693,116 | $51M | 0.2% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 684,106 | $51M | 0.2% | 2026-Q1 |
| LETKO, BROSSEAU & ASSOCIATES INC added | 669,617 | $49M | 0.2% | 2026-Q1 |
| CAPITAL INTERNATIONAL SARL added | 650,735 | $48M | 0.2% | 2026-Q1 |
| INTACT INVESTMENT MANAGEMENT INC. added | 648,661 | $48M | 0.2% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 628,834 | $46M | 0.2% | 2026-Q1 |
| FEDERATED HERMES, INC. added | 604,681 | $45M | 0.2% | 2026-Q1 |
| GW&K Investment Management, LLC trimmed | 578,531 | $43M | 0.2% | 2026-Q1 |
| CONTINENTAL GRAIN CO | 559,178 | $41M | 0.2% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 550,078 | $41M | 0.2% | 2026-Q1 |
| OMERS ADMINISTRATION Corp new | 550,000 | $41M | 0.2% | 2026-Q1 |
| MUFG SECURITIES (CANADA), LTD. added | 513,703 | $38M | 0.2% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 513,347 | $38M | 0.2% | 2026-Q1 |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC new | 474,200 | $35M | 0.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 461,798 | $34M | 0.1% | 2026-Q1 |
| LINCLUDEN MANAGEMENT LTD trimmed | 453,400 | $34M | 0.1% | 2026-Q1 |
| Duquesne Family Office LLC trimmed | 454,435 | $34M | 0.1% | 2026-Q1 |
| Addenda Capital Inc. trimmed | 310,216 | $32M | 0.1% | 2026-Q1 |
| JANUS HENDERSON GROUP PLC added | 431,417 | $32M | 0.1% | 2026-Q1 |
| Amundi added | 428,535 | $32M | 0.1% | 2026-Q1 |
| AustralianSuper Pty Ltd added | 418,755 | $31M | 0.1% | 2026-Q1 |
| Federation des caisses Desjardins du Quebec trimmed | 415,381 | $30M | 0.1% | 2026-Q1 |
| Hillsdale Investment Management Inc. added | 393,580 | $29M | 0.1% | 2026-Q1 |
| MIC Capital Management UK LLP | 386,203 | $29M | 0.1% | 2026-Q1 |
| Woodline Partners LP trimmed | 378,893 | $28M | 0.1% | 2026-Q1 |
| CAPITAL INTERNATIONAL LTD /CA/ added | 370,702 | $27M | 0.1% | 2026-Q1 |
| Scheer, Rowlett & Associates Investment Management Ltd. trimmed | 359,229 | $27M | 0.1% | 2026-Q1 |
| Baskin Financial Services Inc. trimmed | 341,152 | $25M | 0.1% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 340,625 | $25M | 0.1% | 2026-Q1 |
| BANK OF NOVA SCOTIA TRUST CO added | 328,439 | $24M | 0.1% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 326,166 | $24M | 0.1% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP added | 308,785 | $23M | 0.1% | 2026-Q1 |
| Man Group plc trimmed | 307,326 | $23M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC added | 15,837,805 | $1.1B | 4.6% | 2025-Q4 stale |
| Meritage Group LP trimmed | 3,200,731 | $218M | 0.9% | 2025-Q4 stale |
| JARISLOWSKY, FRASER Ltd trimmed | 3,263,219 | $209M | 0.9% | 2025-Q3 stale |
| Burgundy Asset Management Ltd. added | 1,742,299 | $110M | 0.5% | 2025-Q3 stale |
| MUFG Securities EMEA plc added | 1,018,200 | $65M | 0.3% | 2025-Q3 stale |
| RDST Capital LLC trimmed | 968,064 | $64M | 0.3% | 2025-Q2 stale |
| AXA Investment Managers S.A. new | 643,585 | $41M | 0.2% | 2025-Q3 stale |
| BALYASNY ASSET MANAGEMENT L.P. added | 494,130 | $32M | 0.1% | 2025-Q3 stale |
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.